WPP Falls, Deutsche Telekom Slumps, Sandoz Rises
On this episode of Stock Movers:
- WPP dropped as much as 5.2% following its second quarter results. Having issued a profit warning in July, CEO Mark Read reiterated guidance and first-half results were broadly as expected.
- Deutsche Telekom shares slid as much as 6.1% after the telecom operator reported sales and Ebitda that missed estimates in its home market Germany. It flags intense rivalry in the local broadband market after losing 20,000 lines in 2Q, while mobile customer additions also worsened after a corporate client switched to a competitor.
- Sandoz Group stocks went up as much as 5.5%. The pharmaceutical company reported net sales for the second quarter that beat the average analyst estimate.
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