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Let's have a look at some of the stocks that are moving this morning with Louise Moon who joins us now Louise in terms of investors deciding Larel is it worth it?
What doesn't seem like it is?
This morning, shares down at one point over six percent, so quite a slump this morning for Larel.
This is after their fourth quarter results.
Sales were up, but they missed estimates, and in particular the luxury division looks like it's suffering, so they own the likes of Eves, Lauran com other brands. This is kind of a weakness in spending, changing consumer habits, but particularly a weakness in China and a changing consumer there. If you look at the EU and Europe for Loreal Day top estimates, they did quite well, but China was
the real weak point. And Liss also noting rising on top of that that there's rising competition from Asian beauty brands, so Chinese beauty brands Korean beauty brands in particular, So yeah, essentially that their luxury division, compounded by China is what's really dragging it so and then on top of that, there was actually one analyst that noted this they are
still cautious slightly about European demand for the year. So a lot of headwinds for Loreal and that's been reflected in their fourth quarter sales and also in their in their share price reaction.
Yeah, absolutely shares down for Lareal today. Flutters Gamble also doesn't seem to be paying off what's happening there.
No shares slumped fourteen percent today. Interestingly, this is actually a reaction from results from another gambling firm, Draft King, that came over right in the US. So they had their fourth quarter sales mis estimates, forecast miss estimates all came in quite soft, and Flutter is reacting on the
back of this. It's very exposed to the US. It's been as have a lot of gampling companies, but been pushing into the US in recent years, and so it's getting kind of tied up in worries that Draftking have noted. In terms of the whole sector, it has fallen in recent months, there's been concerns about the threat from prediction markets, and this is saying, you know, cracks are showing in the online gaming industry as they adapt to prediction markets
and adapt to again to changing habits as well. So but yeah, but Flutter's reaction is really on the back of Draftking. But it's it's the same worries that affecting the whole sector.
Yeah, fantasy football leagues and betting on sports and so on. Do you know that you could even bet on my favorite game, netball? Which I think, yes, I know it's completely wild, but you can actually but you know, have a look at in terms of the best.
I've actually watched England netball play, I'd.
Recommend ah, I love the Roses amazing. In terms of another company, though leveling up its forecast, this is the game maker Ubisoft.
Yeah, so they own Assassin's Creed and a lot of other big names.
A bit more of a positive story.
Shares up about fourteen percent at one point this morning in Paris. That's after their third course of results beat estimates in particular what investors or or the main metric that people look at as booking. So that's the amount of both digital and physical content that they sell that rose twelve percent.
That beat estimates.
That that's the main metric, as I say, it shares what up, which is some relief because they've been they've dragged quite heavily so far this year. They're down about twenty nine percent this year. So that that rise this morning is is some relief for investors. But you know, you know, you've always got add a bit.
Of caution in there.
Some investors, you know, bracing for a bit of disruption. It's overhauling its pipeline of games, so they could be a bit of rockiness ahead. But for the moment, the circle results yet as I say, beating aspects and I'm doing what I'm boosting that show brestling.
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.