1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg data, 4 00:00:16,480 --> 00:00:16,840 Speaker 2: take a. 5 00:00:16,760 --> 00:00:18,479 Speaker 1: Look at some of the stocks on the move today 6 00:00:18,520 --> 00:00:18,960 Speaker 1: in Europe. 7 00:00:19,000 --> 00:00:23,320 Speaker 2: Were joined by our Bloomberg reporter Louise Moon. Louise Week. 8 00:00:23,520 --> 00:00:26,000 Speaker 2: That's how the CEO of British retailer B and M 9 00:00:26,040 --> 00:00:27,880 Speaker 2: has described its results. 10 00:00:27,920 --> 00:00:30,440 Speaker 1: Shares is hitting an all time low. 11 00:00:30,520 --> 00:00:31,400 Speaker 2: What's going on there? 12 00:00:31,560 --> 00:00:34,560 Speaker 1: Indeed, Ya, they plunged twenty two percent when markets open 13 00:00:34,600 --> 00:00:37,000 Speaker 1: this morning, so record dropped to a record low, adding 14 00:00:37,040 --> 00:00:40,200 Speaker 1: to losses already this year. They're already down about almost 15 00:00:40,200 --> 00:00:43,120 Speaker 1: forty percent so far this year. And essentially this is 16 00:00:43,120 --> 00:00:46,320 Speaker 1: because of a profit warning this morning. So anelys is 17 00:00:46,320 --> 00:00:48,839 Speaker 1: saying what bn M and now forecasting for the year 18 00:00:48,960 --> 00:00:53,480 Speaker 1: is significantly below guidance, so far below what was previously expected. 19 00:00:53,760 --> 00:00:57,360 Speaker 1: On the back of that, then new CEO is starting 20 00:00:57,400 --> 00:00:59,040 Speaker 1: a new plan that they're doing a bit of a 21 00:00:59,080 --> 00:01:01,720 Speaker 1: revamp of the business. So he joined in July. He's 22 00:01:01,720 --> 00:01:03,680 Speaker 1: been doing a review of the business and as you say, 23 00:01:03,720 --> 00:01:06,679 Speaker 1: he says that things are looking weak in his words, 24 00:01:07,080 --> 00:01:09,200 Speaker 1: and perhaps no surprise that shares is dropping as much 25 00:01:09,200 --> 00:01:12,800 Speaker 1: as they are. The problems he's noted are a wide 26 00:01:12,920 --> 00:01:17,280 Speaker 1: ranging things like too many product ranges, duplication of promotions, 27 00:01:17,600 --> 00:01:20,280 Speaker 1: poor availability on the shelves. He says, they need to 28 00:01:20,319 --> 00:01:23,400 Speaker 1: shop and they're pricing and this new plan is essentially 29 00:01:23,480 --> 00:01:27,320 Speaker 1: him going back what he says, back to basics, and 30 00:01:27,360 --> 00:01:29,639 Speaker 1: he says that could take up to eighteen months to achieve, 31 00:01:29,680 --> 00:01:31,720 Speaker 1: So twelve to eighteen months to achieve that, and the 32 00:01:31,720 --> 00:01:36,200 Speaker 1: core focus is really on growing their UK market, which 33 00:01:36,280 --> 00:01:39,639 Speaker 1: is their core. So back to basics. After a profit 34 00:01:39,680 --> 00:01:45,160 Speaker 1: warning this morning for BNM okay, meanwhile, Shell the all 35 00:01:45,240 --> 00:01:50,120 Speaker 1: giant rebounding. Why so, they had a third quarter update. 36 00:01:50,160 --> 00:01:52,480 Speaker 1: This is ahead of their actual earnings that are coming 37 00:01:52,920 --> 00:01:56,280 Speaker 1: later this month, and one of their biggest profit boosters, 38 00:01:56,320 --> 00:01:59,200 Speaker 1: one of their units that's the biggest contribution to profits, 39 00:01:59,320 --> 00:02:01,960 Speaker 1: has made a come back, essentially, so their energy trading unit, 40 00:02:02,200 --> 00:02:04,520 Speaker 1: that was the key focus. They're saying that gas trading 41 00:02:04,640 --> 00:02:07,760 Speaker 1: was significantly higher and oil trading was higher, and this 42 00:02:07,880 --> 00:02:10,079 Speaker 1: is a turnaround from the previous quarter it was hit 43 00:02:10,160 --> 00:02:13,120 Speaker 1: by they said, it was hit by a geopolitical kind 44 00:02:13,160 --> 00:02:15,880 Speaker 1: of volatility that was hitting the wider market and really 45 00:02:15,960 --> 00:02:18,320 Speaker 1: hit Shell and the energy trading unit, so and Lis 46 00:02:18,400 --> 00:02:21,079 Speaker 1: is saying it's a strong update. They also noted a 47 00:02:21,120 --> 00:02:24,079 Speaker 1: strong free cash flow for Shell as well, so shares 48 00:02:24,080 --> 00:02:26,360 Speaker 1: a rising on the back of that, and it just 49 00:02:26,400 --> 00:02:29,880 Speaker 1: shows that the efforts under Shell CEO are really paying off. 50 00:02:29,960 --> 00:02:33,160 Speaker 1: He's been focusing a lot on cost cutting, improving reliability, 51 00:02:33,200 --> 00:02:36,960 Speaker 1: and sharing a lot of underperforming units. So good work 52 00:02:37,000 --> 00:02:39,520 Speaker 1: from him and this is paying off and showing in 53 00:02:39,600 --> 00:02:41,800 Speaker 1: their share games this morning. Should note that there is 54 00:02:41,840 --> 00:02:45,040 Speaker 1: still some weakness that's come through from this update. So 55 00:02:45,320 --> 00:02:48,600 Speaker 1: they're expecting a six hundred million dollar hit from shelving 56 00:02:48,720 --> 00:02:52,920 Speaker 1: a biofuels project in Rotterdam, so that's one thing, and 57 00:02:52,960 --> 00:02:56,880 Speaker 1: then also continued losses in their chemicals unit. So this 58 00:02:56,960 --> 00:02:59,480 Speaker 1: has been hasn't been performing well over some time and 59 00:02:59,480 --> 00:03:01,359 Speaker 1: they've been played ding to turn it around, but losses 60 00:03:01,400 --> 00:03:04,240 Speaker 1: are continuing there. But overall things are improving, and that's 61 00:03:04,280 --> 00:03:07,120 Speaker 1: kind of des bite a broader weaker market. 62 00:03:07,280 --> 00:03:10,160 Speaker 2: And Louise, what's happening at Hello Fresh all we be 63 00:03:10,160 --> 00:03:11,320 Speaker 2: calling them Hello Rotten. 64 00:03:13,120 --> 00:03:16,280 Speaker 1: We could be soon. So their shares dropping as much 65 00:03:16,320 --> 00:03:19,519 Speaker 1: as seven percent today, so they're lower since about June 66 00:03:19,600 --> 00:03:22,040 Speaker 1: last year, and this is on a public health alert 67 00:03:22,080 --> 00:03:24,600 Speaker 1: in the US, so saying that some of they're ready 68 00:03:24,600 --> 00:03:27,639 Speaker 1: to eat meals that are sold by the company that 69 00:03:27,840 --> 00:03:31,120 Speaker 1: the spinach within them might be contaminated with a type 70 00:03:31,120 --> 00:03:33,840 Speaker 1: of bacteria and this bacteria can cause it will typically 71 00:03:33,840 --> 00:03:37,280 Speaker 1: cause kind of fever like symptoms. This is items that 72 00:03:37,320 --> 00:03:41,760 Speaker 1: are shipped directly to consumers, and HelloFresh notified the US 73 00:03:41,840 --> 00:03:45,280 Speaker 1: Food Safety Department that it could be contaminated, so that 74 00:03:45,680 --> 00:03:48,720 Speaker 1: the department is saying that they do expect more products 75 00:03:48,760 --> 00:03:52,160 Speaker 1: to be identified that could contain this bacteria, so potential 76 00:03:52,200 --> 00:03:53,240 Speaker 1: safety concerns there. 77 00:03:54,600 --> 00:03:58,600 Speaker 2: The stock Movers report from Bloomberg Radio. Check back with 78 00:03:58,720 --> 00:04:01,280 Speaker 2: us throughout the day for the this roundup of companies 79 00:04:01,360 --> 00:04:04,440 Speaker 2: making news on Wall Street and for the latest market 80 00:04:04,480 --> 00:04:08,960 Speaker 2: moving headlines. 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