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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
And let's look at some of the stocks on the move today here in Europe. One Carolina Hetki with Guy Johnson, and we're joined by Bloomberg's Breaking News editor Louis Moon.
Good morning, Louise. Let's start by looking at Shells.
So they reported a jump in profits, they're cutting their quarterly share buyback, or they are higher dividend.
How do investors read all of this?
Well, shares are falling this morning, so, as you say, a bit of a mixed news. So on the number side, profit surged twenty four percent beat estimates. All of that on the back of what we've been seeing across oil major's results, you know, reaping the benefits of higher oil and gas prices, huge energy market modecility and trading essentially on the back of that. So the numbers came in quite strong. But as you say, they did cut their
quarterly buybacks. That's just three billion dollars rather than three point five billion, so slightly smaller. They raised dividends, but essentially that's kind offsetting each other in terms of giving back to shareholders, So shareholders not overly impressed and shares dropping this morning. Yeah, but as I say that, the strong numbers are being seen across across oil. So despite that strong numbers, the lack of buybackers is what's being focused on. A MESK mask falling as much as four
point seven percent. This morning, also had their first quarter results, so again bit of a mixed picture, so numbers be estimates, and they did reaffirm their four year guidance, but that essentially disappointed. Consensus had already been at the upper end of the range four guidance, so that reaffirmation of that
was disappointing. They also didn't increase their buybacks, and some interesting comments from the CEO him saying that the oil shock will significantly raise costs this quarter and next quarter. So it's raised costs by about five hundred million dollars a month for MESK and he's going to fully pass that on to customers and that's essentially why they can raise their guidance.
So there's it.
And they also saying, you know that the outlook for demand is highly uncertain in their words, so a lot of kind of negative commentary also on the back of the situation in the Middle East.
Then there's also a really big IPO that we have to talk about, Silex Microsystems in the debut today.
Tell us more about how they did.
Yeah, so this is a chip maker first day of trading in Stockholm. So the IPO rais about two hundred and twenty million dollars and then they surged. The price was almost one hundred and sixty percent higher than the IPO price in trading this morning. It's one of the strongest openings for quite a sizable European IPO in almost five years.
So good performance.
There.
Essentially two things, one showing the appetite for the chip making industry, obviously this has been booming in recent years, and also shows the kind of broader tests for European IPO markets. So there's been a bit of slowness recently on the back of geopolitical tensions, a bit of invested caution, but this is showing a bit of appetite.
At least for chick making.
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