On this episode of Stock Movers:
- Burberry plans to cut almost one-fifth of its work force as its new chief executive officer tries to turn around the British trench-coat maker, after its push into high fashion flopped amid a downturn in global demand for luxury goods.
- Alstom falls as much as 17%, the most since November 2023, after the French transport system company’s latest earnings. Morgan Stanley says the quarterly print is ahead “but the softer guidance will likely be the focus,” while JPMorgan called the outlook “somewhat light.”
- TUI shares slide as much as 11%, most in three months, after the tour and travel operator signaled a negative bookings inflection for the key summer season. The group also reported a smaller-than-expected Ebit loss for 2Q and reiterated its guidance for the full year.