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 look at some of the stocks on the move
Speaker 3: today here in your f I'm Caroline Hepkar with Tom McKenzie.
Speaker 3: We're joined by Bloomberg reporter Chloe Malay. I sent a
Speaker 3: theme to today's stock Movers which is board games. BP and
Speaker 3: housing a major shake up with a new CEO. How
Speaker 3: are traders taking it? Well?
Speaker 1: Not that well, So the shares did go up this
Speaker 1: morning and then paed back some of those games. So
Speaker 1: BP has appointed a CEO who comes with two first releases.
Speaker 1: She's the first female CEO of a big oil company
Speaker 1: and also the first time that BP has appointed an
Speaker 1: outsider as CEO. So Meg O'Neil joins from Australian energy
Speaker 1: company Woodside, and she has now a really big task
Speaker 1: out of her, which is reviving the fortunes of BP
Speaker 1: after quite a few years of under performance and lagging
Speaker 1: behind its rivals. She also has to deliver on a
Speaker 1: big strategic return to oil and gas and away from
Speaker 1: the bet on renewables that BP had made and that
Speaker 1: did not pay off. So some analysts had actually expected
Speaker 1: the appointment to be received quite well by the markets
Speaker 1: and have been saying that there was and there was
Speaker 1: appetite for a more aggressive approach, and that the track
Speaker 1: record that O'Neill had at Woodside of really aggressive moves
Speaker 1: and a really strong execution that actually positioned.
Speaker 3: Her quite well.
Speaker 1: She's also someone who has had faith in fossil fuels
Speaker 1: forever and a really particular belief in natural gas and
Speaker 1: liquefied natural gas. So that appointment really symbolizes that completely
Speaker 1: reverse all away from green energy and that commitment from BP.
Speaker 1: But despite that kind of strategic alignment, the Chez did
Speaker 1: go down. So perhaps it's because of how sudden of
Speaker 1: a management shakeup we've got from BP.
Speaker 3: What's happening with the so from oil to the gaming space,
Speaker 3: that's quite the pivot.
Speaker 1: What's happening with the gaming company evolution? Meanwhile, Chloe, well,
Speaker 1: it's a company that does have a great twenty twenty
Speaker 1: six ahead of it, according to to Barclays. So it
Speaker 1: was double downgraded all the way from overweight to underweight
Speaker 1: rating by Barclay's analysts because of continued pressure on the
Speaker 1: earnings for Evolutions, So they said that a recovery in
Speaker 1: Asia would take longer than expect, would be tougher than expected,
Speaker 1: and that is after that region was already a big
Speaker 1: drag on growth this year and a lot of that
Speaker 1: had to do with a lot of cyber attacks on
Speaker 1: its live casino streams in Asia, so that had really
Speaker 1: held back the earnings for Evolution. There's also underperformance in
Speaker 1: North America, so all around it looks like for Evolution
Speaker 1: it's quite a difficult market for gambling companies. There's also
Speaker 1: always the threat of regulatory risks that has to be
Speaker 1: taken into account. And just a few days ago, just
Speaker 1: last week, it was also downgraded by City Analysts this
Speaker 1: time and the analyst saying that there was a real
Speaker 1: lack of visibility around the earnings and that there was
Speaker 1: no clear solution yet on this issue of cyber attacks
Speaker 1: in Asia. So right now it doesn't look too good
Speaker 1: for Evolution, and it has about seven cells on the
Speaker 1: stocks and just four buys, so it doesn't seem to
Speaker 1: be much of an analyst Darling, I don't think.
Speaker 3: Okay, So that on Evolution and the electronics retailer Curries
Speaker 3: is the last stock we're looking at. What sparked your
Speaker 3: interest there.
Speaker 1: Well, it was the shares rising massively, so therese about
Speaker 1: fifteen percent this morning because of very good earnings for Curries,
Speaker 1: and the region that was really driving there is actually
Speaker 1: the Nordics, so the profit beat was driven primarily by
Speaker 1: that region, and the UK, which is the other big market,
Speaker 1: is actually a little bit softer at the margin there
Speaker 1: for UK and Ireland did actually get worse because of
Speaker 1: higher staffing costs, so of course we had wage inflation
Speaker 1: and then those changes to National insurance and there that's
Speaker 1: really weighed a little bit on that margin for that
Speaker 1: UK business. So let's see if Curries is kind of
Speaker 1: able to mitigate those challenges in the UK and continue
Speaker 1: that momentum in the Nordics, if it wants to maintain
Speaker 1: what's been really good share price performance lately. We're up
Speaker 1: about forty five percent you today, so let's see if
Speaker 1: it continues.
Speaker 2: The Stockmovers Report from Bloomberg Radio. Check back with us
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