Bloomberg Audio Studios, podcasts, radio news.
The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's have a look at some of the stocks they'll move today here in Europe. I'm Caroline Hepka and were joined Barbluberg reporter Cloimba La. Good morning, coy. So let's start with Ammes not Immune. How investors thinking about the latest results.
Yeah, it's a very tough morning for luxury as a whole. So we had MS, which is traditionally quite a resilient luxury company that has been really able to withstand some other downturns in the industry today reporting results that were quite disappointing. And we also had Caring last night with the sales at Gucci excuse me, falling by more than expected and than the day before. Was alvim Mahor of course,
with which also did worse than anticipated. So the common theme for all three companies is that they are really feeling the impact of the conflict in the Middle East on those sales. And so that's both because there was much weaker demand in the shopping hubs like to buy for example, but also because the impact has reverberated across other markets and really hurting consumer confidence and travel globally
as well. And so for example, for MMES, it said that stores in France were hit by much lower tourism spent buying Middle Eastern shoppers, for example. So for a luxury sector as a whole, this is really kind of doing hopes of a rebound after some signs of the previous earning season that things were actually getting a little bit better. So this is definitely a big setback, and it seems that it is impacting everyone, included MS, which someone expected to be a little bit more resilient to this.
Yes, Irmes is share price falling the most on RACLE, but you're right, it's got to read across because Kerring, Berbery, Reschmart, they're all in those worse performing ten stocks, More Claire as well today, so it's really quite broad across that luxury sector. Now, news of some turnaround signs from Atlantis our investors optimistic.
Yeah, it seems like they are.
So.
Silantra's reported to quite a big rise in shipments for the first quarter and that was particularly led by North America, so that's being taken as a sign that the ongoing turnaround is taking shape. So the CEO, Antonio Felosa, took over in June, and he's launched quite wide ranging efforts to kind of get Stilanta's back on track. He's rolled back on electric vehicle plans, he's worked on more hybrid models and then as also cut prices to regain some
market share. And another big part of the strategy was also to refocus on the US market, getting Americans back in jeeps, for example, and so that seems to be working and Stillanta's grew actually in all regions, including in Europe. So overall it's a very positive picture, and that's especially in the context of the company earlier this year in February shocking markets with surprise write downs and charges of
twenty two billion euros. A lot of that was linked to unwinding the ev strategy that was put in place by the previous CEO, and that triggered a really massive slump in the shares back in February. So Silantis has much further to go now to kind of erase those losses. But now it seems like maybe the worst is behind it, and it's quite encouraging for investors.
Okay, that's so interesting. So what about ASMOL, obviously the biggest company in Europe, very important earnings out today.
Yeah, so it raised its four year sales guidance, but at the same time it also provided a second quarter sales forecast that was a little lighter than expected. Overall, the outlook does seem definitely quite strong. The CEO said that growth in the semiconductor industry was continuing to solidify,
that customers were accelerating those investments in AI. But shares have not reacted the way you'd expect with a guidance raise, so they were down slightly at the open, fluctuating within quite a narrow range since then, and that is likely because that guidance raise was actually expected by investors, and the positive outlook is already reflected in a stock price that has jumped almost forty percent since the start of
the year. But overall, though there is clearly some strong confidence the AI boost is looking like it's there to stay, and the focus is now really shifting to twenty twenty seven and whether the SMaL is able to really sustain that momentum.
The Stock Movers report from Bloomberg Radio check back with us throughout the day for the latest roundup of companies making news on Wall Street, and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.