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Okay, let's take a look at some stocks on the move today in your Ontommakin's in London with Stephen count in Brussels, were joined by Bloomberg reporter Chloe Melly. Chloe, let's start with Loreal A downgrade this morning. What's the impact being. Yeah, so it got downgraded at Jeffries to an underperformed rating this morning. There were actually two names in that kind of beauty cosmetics space getting downgraded. Biersdorf
was also downgraded to hold rating by Jeffries. So what Aeles said was that growth was really normalizing in that global cosmetic market after a period of quite strong growth. And interestingly, they also said that catchcres like injectables like supplements and weight loss drugs could potentially be somewhat kindabilistic to some key names in the sector. The latest earnings
for Lorio were actually quite good. We saw cells expanding more than expected in North America, a return to growth in China, so it was quite positive over the summer. But Jeffrey said that valuation for Lorial gave the company too much credit at the moment and that market share games were moderating. So it was down this morning on the back of that downgrade.
Well, me while Chloe, we were looking at easy Jet as well. What's the latest that we've heard from them?
Yeah, So JP Morgan cut the rating on easy Jet as well this morning, cut it to a neutral rating and it placed it on negative catalyst watch, and Liz said that they were overall very cautious about the European shorthol sector. So it said that more capacity growth for destinations in the Mediterranean and for winter sun destination as well, it meant that supply is now significantly ahead of pre
pandemic levels and therefore could outstrip demand. So that is really hurting potentially could hurt pricing for companies like easy Jet, but then also rivals like Jet to Whizz and Ryanair. But JP Morgan was particularly down on easy Jet. It said that it also already saw some signs of moderation in pricing growth over the summer, and that any softer pricing in the winter would be worsened by some inflation as well. Easy Jet has already been underperforming its peers,
and of course that new rating really won't help. And Trust Pilot Chloe launching a share buy back program.
Is that putting off for the stop?
What's what's the rational for that buyback? Yeah, So a great day for trust Pilot this morning. Actually, the earnings were good, the new share buyback, as you mentioned, and then it also raised its adjusted EBIT dumb margin target. A lot of that is actually to do with AI and that's really becoming a key part of its strategy.
It said that the expanded use of AI internally helped drive some efficiencies which contributed to the improvement in margin and to that strong free cash flow, which explains that buyback and that margin guidance raise. It also noted that it's really benefiting from Gemini and chat GPT overviews, including Trust Pilot reviews, and increasing that exposure to the company. So it's also and it's also focusing on big customer wins on Barclay's Boots Lynch over the last six months.
So overall, it seems that both the company and the investors are quite bullish for that Trust Pilot story.
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