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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Now, let's take a look at some of the stocks on the move today in Europe. Pimasy Burden in London with Stephen Carroll in Brussels, and we're joined by Bloomberg reporter Chloe Melly. So, Chloe, I want to start with remy Quantro. Traders getting giddy on the cognac makers profit beat this morning.
It seems yeah, absolutely, things seems to be looking up for Remi Quantro so it had slightly better than expected profit and it also expects sales growth to improve throughout
this year. So those are not kind of blowout results by any means, but given the recent weakness that we've seen for both Remiquantra and then the broader alcohol sector, those signs of demand picking up slightly even maybe just stabilizing, that is seen as encouraging, and so that is getting investors very excited, very giddy, indeed, were with seeing shares up very strongly this morning on the back of those results. If we look a bit deeper about what drove the performance.
There was really strong growth in the Americas in particular, and that helped to offset some of the weakness elsewhere, in particular in Europe and China. So it's not great across the entire business, but it's definitely an improvement on last year when Remi Quantra had to withdraw its long term guidance and it blamed at that time tariff policies
in both the US and China. So the US tariffs we know what that was about, but the China ones referred to the trade dispute that there was last year between the EU and China that was affecting particularly as sales of duty free cogniac, and so that was really weighing on remy quantry last year. There's now a few new other challenges. There's the weak consumer spending, there's lower alcohol consumption with kind of growing health concerns growing up
take of jlp ones, et cetera. But for now it seems that wermic Coontra is quite resilient and maybe a starting to get a bit better.
Okay, so that's from the drinks company. Let's go to St. Micronax and we're thinking about technology. Of course, big themes that play here their shares lower this morning.
Though, Yeah, we're seeing st Micro and then some of the other names in that AI chip sector seeing some weakness this morning because of course of Broadcom, with a quite disappointing outlook from that company around AI revenue. It is worth noting that Broadcom isn't doing badly per se. You know, demand is still very strong, but the expectations are so elevated that essentially missed a very high bar.
And the problem for this sector as a whole is that those expectations are so high getting even higher, and so when there's any sign of weakness, any sign of maybe even the potential slow down, the market tends to maybe panic a bit. And so we've seen shares for Broadcom plunging a lot of weakness in Asia as a result, and then now we're seeing some of that read across as well in Europe, with st Micro and then other names like Infinian, Nokia X, all of those AI related
names seeing some weakness this morning. It is now quite a familiar story with this AI trade, with sky high valuations, sky high expectations and then a small disappointment triggering a big tumble.
Also seeing Puma shares on this upgrade from City what City seeing that's better good about Puma at the moment.
Yeah, it's really all about China. So the analysts have lighted a really good growth opportunity over the medium term in China, and that is because Anti Sports is now Puma's biggest shareholder with a twenty nine percent stake. So Puma has been an interesting company to watch because of the ongoing turnaround for the company. The latest earnings were
actually pretty good. We've seen some progress around liquidating inventory, around doing better marketing, and also developing a bunch of new products in very in demand categories like football and
running gear. But the CEO has said before that twenty twenty six was very much going to be a transition year with all of the benefits of the turnaround plan and really starting to come through next year in twenty twenty seven, and the goal of course being that Puma might be able to compete with Nike and Adidas after kind of falling behind recently, and perhaps China and the Chinese market will be a big part of that for Puma, if citianalysts are to be believed.
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