Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks on
Speaker 3: the move then today here in Europe. I'm Caroline Hepga
Speaker 3: and I'm joined by Bloomberg's Breaking News editor Louise Moon.
Speaker 3: Good morning, Louise. Let's start with shares in Puma, which
Speaker 3: are doing really well. There is talk of m and a.
Speaker 1: There is, indeed, so China's Anta is one of the
Speaker 1: companies that's said to be weighing a bid for Puma.
Speaker 1: So Anta is one of China's largest sports companies. That
Speaker 1: there's kind of three or four that cover the top
Speaker 1: ones in China, and Anta is one of them that's
Speaker 1: been on quite a big buying spree in recent years
Speaker 1: as well across the globe. So it's listened in Hong Kong.
Speaker 1: It's said to be working with advisors to evaluate a
Speaker 1: potential bid for Puma, and if it does, it could
Speaker 1: team up with a private actually firm to make that bid.
Speaker 1: There are other bidders that they also being named, so
Speaker 1: Leaning is another one that's another Chinese company and Asex
Speaker 1: also a Japanese company. So, as you say, Puma sees
Speaker 1: surging on this news, up as much as fourteen percent
Speaker 1: this morning in Frankfort. Before that, they had dropped more
Speaker 1: than sixty percent so far this year. So they've been
Speaker 1: trying to kind of revamp themselves under their new CEO.
Speaker 1: So they've been kind of a lack of enthusiasm for
Speaker 1: a lot of their products in recent years from consumers.
Speaker 1: That and as I say that, they're revamping themselves. As
Speaker 1: part of that, they're cutting jobs, about nine hundred jobs.
Speaker 1: They're sharpening their focus on kind of their core and
Speaker 1: revamping marketing efforts as well, so telling their stories in
Speaker 1: a better way. So, yeah, shares haven't been doing well,
Speaker 1: but soaring on the back of this potential M and
Speaker 1: A that could be coming. So we'll be keeping an eye.
Speaker 2: Yeah.
Speaker 3: Interesting, I don't know and toer the brand, but apparently
Speaker 3: basketball trainers are huge and they still have massive souls
Speaker 3: if anyone's wondering. This's also well continue a bit of
Speaker 3: the retailer theme. Boohoo a firm with a name change
Speaker 3: on the horizon.
Speaker 1: Really Yeah, so they brought up Debenhams, a while ago,
Speaker 1: and they've been talking about changing their name to Debenlam's Group,
Speaker 1: and they say that that is finally gonna happen. So
Speaker 1: this came alongside their first half results and shares a
Speaker 1: swing on the back of those, up about twenty four
Speaker 1: percent at one point this morning. So revenues did still drop.
Speaker 1: So first half revenue dropped twenty three percent, but it
Speaker 1: was narrower losses than had previously happened for Boohoo. They
Speaker 1: also spoke about that their Debenham's brand in particular being
Speaker 1: very strong. Debt is a bit lower and for your
Speaker 1: guidances is above what some analysts had expected. So some
Speaker 1: positives as they turned themselves around. They've been embarking on
Speaker 1: a huge turnaround plan. They say that this is gathering
Speaker 1: pace and doing well and starting to reap those results,
Speaker 1: so looking forward, things are starting to look more positive.
Speaker 1: They also announced a new management incentive plan kind of
Speaker 1: a longside or as part of this turnaround. So yeah,
Speaker 1: some positive indications ahead for Booo, which has been struggling
Speaker 1: in recent years.
Speaker 3: Lastly, student housing Unite nearing a load today.
Speaker 1: Yeah, they've issued a profit warning this morning. As you say,
Speaker 1: the student accommodation provided us. So they're saying that a
Speaker 1: weak market will push their earnings down by as much
Speaker 1: as ten percent this year. So this is reflecting what
Speaker 1: they're saying, This is a reflecting lower occupancy property activity
Speaker 1: and rising finance costs. So student housing had kind of
Speaker 1: been a bit of a bright spot in the wider sector,
Speaker 1: but it's been slightly weaker more recently. There's been doubts
Speaker 1: over demand from international students, some overbuilding in some areas
Speaker 1: as well, and of course the budget yesterday there was
Speaker 1: a charge for international students for universities, so the charge
Speaker 1: per student as well, so that potentially could also could
Speaker 1: also weigh So Unite Group issuing this profit warning and
Speaker 1: yet shares hitting ten year.
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