Movado Group, LVMH, Burberry: Stocks in focus
Morning Brief co-hosts Brad Smith and Madison Mills breaks down the day's top trending tickers.
Movado Group (MOV) shares are trading lower following the release of its second-quarter earnings report. The watchmaker's full-year outlook fell short of investor expectations, with the company citing challenging consumer conditions as a key factor impacting its projections.
LVMH Moët Hennessy Louis Vuitton (MC.PA) stock is under pressure after Morgan Stanley lowered its price target on the luxury goods giant. The firm pointed to further deterioration in the Chinese market as the primary reason behind this downward revision.
Meanwhile, Burberry Group (BRBY.L) stock is rebounding after a recent sell-off. The British luxury fashion house had faced downward pressure following news of its exclusion from the FTSE 100 index on the London Stock Exchange.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Angel Smith
Video Transcript
We're taking a closer look at Yahoo.
Finance is trending tickers.
Three luxury names to watch.
We've got Mavado, LV, MH and Burberry, so we're doing it in 30 seconds each.
Let's go here, mavado.
Let's start their shares of the luxury watch company.
They are lower by about 13.5%.
They reported better than expected revenue in the second quarter, though for your guidance failed to impress the street and release the CEO noted a quote challenging consumer spending environment weighing on the quarter.
However, a bright spot here, and this is perhaps the first time I've read this in an earnings release.
You've got Jessica Alba ludicrous, Tyrese Halliburton and Christian McCaffrey in a new iconic song and advertising campaign, so we'll see if that works to turn around some of the, uh, future prospects for the company.
There we go.
All right, Brad Love.
I'd love to get a ludicrous reference into our show here, but we're also gonna talk about V and Mayor to those shares under pressure today, Morgan Stanley, slashing its price target for the luxury goods makers, European listed shares and not the analyst, cited further deterioration trends in China and only slight improvement in the US and European markets.
I also want to know that I went through with the acquisition of Tiffany back in 2021.
That was the largest contributor to LV.
MH is growth over that prior year, and we know that Tiffany is having a close in stores in China.
That could also be putting some pressure on this stock today.
That's right and Burberry shares bouncing back Today After closing down more than 4% on Wednesday, it was announced that the luxury name had fallen out of the prestigious FTSE 100.
The FTSE, as some people may know it on the London Stock Exchange amid a challenging year for the British brand.
Over the past 12 months, the company's share price here has sank nearly 70% here today.
Bright spot.
It's up by about 10 or excuse me 2.8% here, uh, so we'll continue to track Burberry, the brand of the Wellies.
There you go.
All the luxury names that you need to know