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 stocks on the move
Speaker 3: today in Europe. I'm James Wilcock with Caroline Hepka. We're
Speaker 3: joined by Bloomberg reporter Claim Chloe. Let's start with Orlando.
Speaker 3: Let's see quite the drop this morning. What is prompting
Speaker 3: that move?
Speaker 1: Yeah, well, it's all about Germany's financial regulator opening an
Speaker 1: investigation into Entry Zeland into the twenty twenty five financial report.
Speaker 1: And so the robe is around suspected violations of accounting
Speaker 1: rules that are related to the acquisition of About You,
Speaker 1: which is Xander's rival online retailer that I had bought
Speaker 1: for one point three billion dollars recently. And so the
Speaker 1: regulator is essentially saying that there was information connected with
Speaker 1: the acquisition of about that may have been incorrectly omitted
Speaker 1: from the notes to the financial statements. And so obviously
Speaker 1: that's the kind of thing that really worries investors, and
Speaker 1: we've seen shares really plunging, as you say, really taking
Speaker 1: that drop this morning. Solander's defended itself, saying that this
Speaker 1: was a purely formal and materially insignificant aspect of the
Speaker 1: notes to the financial statements and said that there's all
Speaker 1: the relevant information related to that deal, so you know,
Speaker 1: the companies involved, the transaction, trust structure, the purchase price,
Speaker 1: that all of that information was already fully publicly accessible
Speaker 1: and so now we're just waiting to see what happens.
Speaker 1: But in the meantime, this this is really taking a
Speaker 1: hit on Silando's shares this morning.
Speaker 2: Okay, so Zelando is one, Pandora is another. In the
Speaker 2: fashion retail space, also moving.
Speaker 1: Why Yeah, it just got upgraded to a by rating
Speaker 1: by Bank of America and the analyst said that the
Speaker 1: company had a very clear catalyst path head and it
Speaker 1: said that also it expects then, I said that they
Speaker 1: expect a much better than expected sales performance in the
Speaker 1: second quarter, and that is because there's a few of
Speaker 1: the pressures that had existed for Pandora potentially lifting. So
Speaker 1: one of the big problems was a very very high
Speaker 1: silver prices. Of course, Pandora makes jewelry and needs that silver,
Speaker 1: and so it meant that it was trying to really
Speaker 1: diversify the materials that it makes is jewelry with But
Speaker 1: now we've got silver down actually quite significantly from the
Speaker 1: peak that I've reached in January, so that's providing a
Speaker 1: little bit of relief. And then also Pandora might be
Speaker 1: benefiting from a US tarriff refunds if that does happen,
Speaker 1: because they've applied for those, so that could potentially lift
Speaker 1: that performance for the second quarter. If we look at
Speaker 1: the share price for Pandora, we can see really a
Speaker 1: slumping throughout the start of this year and then slowly
Speaker 1: recovering now, so it seems that potentially it is getting
Speaker 1: back on track. And that's what we got that Bank
Speaker 1: of America upgrade.
Speaker 3: Now and WISE is seeing a little bump this morning.
Speaker 3: What has got into investors' heads.
Speaker 1: Yeah, so it got a new and announced a new
Speaker 1: buyback program and also results that were in line with expectations.
Speaker 1: So and As has said that this showed kind of
Speaker 1: good momentum in the company, good customer growth, and of
Speaker 1: course the shareholder return part of it is always going
Speaker 1: to be seen as a positive, always going to be
Speaker 1: welcomed by shareholders. It's a bit of a relief for
Speaker 1: Wise because at the beginning of the month, shares took
Speaker 1: a huge hit because of a money laundering investigation. So
Speaker 1: there was a report that some of the wise accounts
Speaker 1: had been used to launder the proceeds of fraud, corruption,
Speaker 1: drug trafficking. And this is the transactions are worth more
Speaker 1: than five hundred million pounds and so why I said
Speaker 1: that it was working with prosecutors in Belgium around this investigation.
Speaker 1: But shares have really taken a plunge of the back
Speaker 1: of that. So having those pretty good results and that
Speaker 1: new buyback has been helpful for the company. This morning
Speaker 1: provided a little bit of relief after the huge plunge
Speaker 1: on June first, actually was at the beginning of the month.
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