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Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's look at the stocks on the move today here in Europe. I'm Caroline Hepkit with Stephen Caroll, and we're joined by Bloomberg's Breaking News editor Louise Moon. So let's think about boomer a leap then for the ath leisure brand, the software, sorry, the shoemaking brand.
What has put us spring in their step?
Yes, so shares rose about twenty one percent this morning. Then they paired some of those games, but they're still up. Last time we looked about eight percent, So big games this morning after Anta, a Chinese sports shoe sportswear giant, agreed to buy in about twenty nine percent Steak and that's for one point five billion euros.
The going to become its bigger shareholder. And let's say this is.
A boost to Puma's management's turnaround efforts. It's not thought that Anti will change those efforts as they.
Become the biggest shareholder.
The offer price, or the price they did that a was a sixty two percent premium to Puma's closing price yesterday, So a good price on that front. And then for Anta, it's adding to their global expansion, their multi brand growth strategy.
They already own FeelA.
They're the largest shareholder of the company behind Salomon, so they're a big global giants. They actually have a really fascinating story behind them. So years ago, when I was based in Hong Kong, I went on a reporting trip to a place called Jindyang in China. It's on the south East coast and it's called China's shoe capital, and that's where ants from and that's where three of China's biggest sports where giants all stem from.
So it will stem from this one place. You walk around, it's.
Blocks and blocks and blocks of shoe vendors, everything you could possibly need to make shoes. And there's these three huge companies that have now become global giants all step for this place. I think two of the founders went to school together. It's a really fascinating story and all steming from this place. So anyway, so and they're the company that are going to be buying buying Puma, so shares really rising on that news.
Oh, I love the shoe story behind that. We're going to stay with shoes though and talk about Doctor Martin's next what's going on there? Not such a positive story for them.
Shares down over ten percent, back to levels seen in mid last year, mid twenty twenty five. That's after third quarter results, so revenue was weaker then expected, and the timing wise of this, it's meant to be kind of their peak trading season obviously over the Christmas period, so weaker then expected, and yeah, just a lot worse than than should have been thought. They said that Europe still
remains a challenging region. That's their biggest region. America performed a bit better, and it all comes as they're pivoting.
They're calling it the year of Pivot.
It's a bit of a restructuring their strategy of trying to prioritize profitability and being disciplined when it comes to promotions. So it's a bit of a turnaround storry for Doc Martins, and their third quarter didn't perform.
As well as expected.
They do say they're on track to meet pretext profits for the full year, but if you compare that to the air before, it's still quite broadly flat, so not much positive news to go on there.
Okay, and then lastly to Credit Agricole, they are looking stronger this morning.
Why they are they' one of the top performers among banks in Europe. That's after an upgrade from ODO. They raise their recommendation from mutual to outperform. The analyst there is saying that the net income vestments that they have are higher than consensus and saying that the bank's underperformance over the past year or so has left it trading up multiples that it doesn't think reflects the quality of
its fundamentals essentially. So if you look if you are to compare Credit CaAl with the wider Banks stock six hundred banks index, so it shares are up twenty six percent in the last twelve months, but the wide index is up sixty one percent, so it is underperforming there and that's what the analyst was really focusing on.
In their note.
And shares are rising this morning, there is about two percent on the back of this, so adding to kind of recent gains, and if you look back, the shares are now at the higher since two thousand and eight, so a bit of a boost for them today.
And then just take a look at the analyst ratings.
They've got eight by seven holes and five cells, so it's adding to that positive story.
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.