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 1: Let's take a look at some stocks on the move
Speaker 1: today and you're I'm Charles's Caple with Caroline Hepka. We're
Speaker 1: joined by Bloomberg reporter Chloe Melee. Let's start with installation
Speaker 1: specialist Kingspan Whire Investors warming to the stock.
Speaker 3: Yeah, Well for Kingspan, calling it an installation specialists makes
Speaker 3: it sound a little bit more boring than it actually is,
Speaker 3: because it does have a big exposure to data center
Speaker 3: construction and that is what is really driving that stock
Speaker 3: this morning. So it's doing very well in the unit
Speaker 3: that makes that infrastructure for data centers and makes walls, ceilings,
Speaker 3: liquid calling systems as well for that end market.
Speaker 4: And it's a market that has been doing.
Speaker 3: Very very well, with sales really jumping in that unit
Speaker 3: and the backline also being very strong. It's particularly interesting
Speaker 3: given that this is actually a unit that they had
Speaker 3: wanted to list and it's now an IPO process that
Speaker 3: they've completely abandoned, and you know, it's the best performing
Speaker 3: unit by far, so I'm sure that they're glad that
Speaker 3: they kept it. They also mentioned that they are pausing
Speaker 3: their buyback to preserve some dry powder, and the CEO
Speaker 3: said to analyst this morning that the company was looking
Speaker 3: at some chunky deals, that they had a headroom of
Speaker 3: about one billion euros and there were loads of opportunities
Speaker 3: that would potentially fit within that scope. So this is
Speaker 3: one of those companies that's a little bit of a
Speaker 3: lesser known sort of AI winner, and we could probably
Speaker 3: hear something from this company about a potential deal coming soon.
Speaker 5: Okay, that's interesting. On Kingspan and the AI link, let's
Speaker 5: also talk about the German manufactured Daimler truck a drop
Speaker 5: in their shares why.
Speaker 3: Yeah, So this is really the same kind of challenge
Speaker 3: that i AM has been facing over the last few quarters,
Speaker 3: which is a lot of weakness in the North American
Speaker 3: truck market because of those tariffs, and it's something that
Speaker 3: it has been dealing with for a while because it
Speaker 3: makes a significant share of its trucks bound for the
Speaker 3: US in Mexico, so it's subject to the twenty five
Speaker 3: percent duty on those heavy truck imports that took effect
Speaker 3: last autumn. So In response to that, it said that
Speaker 3: it was planning on building a new manufacturing plant in
Speaker 3: the US to reduce some of that tariff exposure. But
Speaker 3: this probably was not enough to really reassure investors, given
Speaker 3: that there's been also just general weakness that in that business,
Speaker 3: both in the US business.
Speaker 4: But outside of that as well.
Speaker 3: The orders were quite weak, the guidance is quite soft,
Speaker 3: and so all of that is really weighing on the
Speaker 3: shares this morning, but the primary driver of.
Speaker 4: That is really that weakness in North America.
Speaker 1: Finally, solid earnings for Danish biotech company gen Mab tell
Speaker 1: us more.
Speaker 5: Yeah.
Speaker 3: Gen Mab makes antibody therapeutics and so reported better than
Speaker 3: expected revenue, better than expected profit for the second quarter,
Speaker 3: and it also boosted.
Speaker 4: Its outlook for the year. So the analysts have said that.
Speaker 3: Those were very solid results, and they have a pointed
Speaker 3: out as well that there are some readout some some
Speaker 3: clinical trial readouts coming out later this year in the
Speaker 3: fourth quarter of this year, which could be really big catalyst.
Speaker 3: There's one in particular that is related to lymphoma and
Speaker 3: that could be a six hundred million dollar commercial opportunity
Speaker 3: in twenty thirty five.
Speaker 4: According to Bloomberg Intelligence.
Speaker 3: So there's a few things coming down the pipeline for
Speaker 3: this company, and it seems that investors and analysts are
Speaker 3: quite enthusiastic about its growth prospects.
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