Next Slumps, Kone Up, Continental Spin Off
On this episode of Stock Movers:
- Next shares dropped as much as 6.3% after the UK fashion retailer said it expects UK sales growth to be lower in the second half compared with the first.
- Kone shares touched their highest level since early 2022. The Finnish company is exploring a potential bid for rival TK Elevator, even as the German firm’s private equity owners look at an initial public offering of the business, according to people familiar with the matter
- Continental carved out its auto-parts unit and is looking to sell its industrial unit ContiTech next year as it refocuses on its tires business, reversing decades of expanding its portfolio.
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