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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll and I'm joined by Bloomberg's Breaking News editor Louise Moon. Louise, good morning. Let's start then with ASM International and a positive reaction to their earnings.
INDEEDY shares hitting a record high this morning. This is a story all about AI, so shares up as much as nine point five percent in trading this morning. This is after their second quarter forecast came in bester than expected's ASM obviously the chip equipment maker. They also predicted
that the second half would be stronger. Essentially, this is all around the as spending on AI ramps up, the soaring appetite for chips, chip makers are scaling up their production and essentially the only constraint here really is that demand is outpacing supplies, so they're accelerating their capacity to try and reach that demand. So, as I say, shares hit a record high, really soaring on the back of that this morning.
Okay, so I say, as I'm into an Ashdol then returning to ABB seeing a boost from data centers.
Yeah, a similar kind of story here. Shares also saw to record high up just over six percent, and if you look back over the past year, they've they've risen about ninety percent. Again, this is as you say, so more orders for products related to dentist data centers all profiting on the back of this need for AI data centers.
So they've raised their revenue expectations for the year. They're now seeing what they're calling high single digit to low double digit in terms of a percentage rise of revenue. It was up to about nine percent, so it's it's higher than the previous high end. Essentially, they did note some risks from the Middle East, but said that demand is resilient enough that this isn't, you know, too much of a problem. So revenue expectations raised. Analysts is saying
that's likely to drive consensus upgrades. And then in terms of kind of the wider sector, this demand for data centers and investment in data centers is expected to kind of continue through this Yees, you would likely see a lot of the same story going forward and benefits for ABB on the back of.
That, okay, or keeping in eyeing those ABB shares, as you say, significantly higher in trading today next to recket bankies are in the consumer space and their results have a bit of a cold were affected by the common cold.
Business famous, Yeah, so they had their first quarter sales came in weak and even in their core brands, so they've been pivoting to really focus on their course that's brands like Strep soels like Dethel but overall sales week on the back of, as you say, a lack of demand for cold medicines in the US. They've had a weak and flu season and then also disruption in the Middle East, so that's causing higher overall costs consumers where spending.
So quite weak first quarter results there. They did keep their full year guidance intact, which is something that's been quite closely watched to see if they could hit that, and they had already worn that their first quarter growth would lag slightly. But analysts is saying that this MYSS today is creating a lot of uncertainty about if it's going to be able to deliver those targets, so if it will actually hit their full year guidance as they
are saying. They're saying Alice also saying that, you know, this reiteration of the guidance is turning it into what they're calling a heavily back end loaded story. Doesn't give them much flexibility. You know, if there's another shock that comes down the line, it's quite hard to absorb that. So for Wrecket, as I say, week first quarter adds to ongoing struggles. They've already been trying to pivot the brand and overhaul it. They're struggling, particularly in Europe. There's
a lot of competition there. Spending is also slowing there, so shares today down as much as six point three percent, the lowest since September twenty twenty four, leading declines on the foot Sea one hundred and extending declines that they've had since the war began, really and also dragging down some peers to like Halien, so a bit of an indication as to how the Middle East and consumer demand is impacting these kind of consumer companies.
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