Nestle Falls, British American Tobacco Slides, LVMH Rises
On this episode of Stock Movers:
- Nestlé dismissed Chief Executive Officer Laurent Freixe after only a year due to an undisclosed workplace affair, extending the management turmoil at the world’s biggest food company that’s known for its conservative corporate culture. Nestlé shares fell as much as 3.6% in early Zurich trading on Tuesday, and they’re down 19% over the past 12 months.
- The profit expectations for British American Tobacco’s new category businesses are “seriously overblown,” RBC writes in note as downgrades to underperform from sector perform. The stock declines as much as 2.8%.
- HSBC analyst Erwan Rambourg raised the recommendation on LVMH Moet Hennessy Louis Vuitton SE to buy from hold. LVMH shares rose as much as 3%.
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