SAP Soars, Reckitt Slumps, Inditex Outperform Rating
On this episode of Stock Movers:
- SAP shares surge as much as 11%, the most since 2019, after the German software company reported a 29% growth in current cloud backlog on constant-currency terms, indicating resilient demand for its cloud-based software despite growing trade uncertainties. The company beat estimates for profits and free cash flow as its cost cuts starting last year bear fruit.
- Reckitt Benckiser reported lackluster sales growth and said market conditions could affect the timing of its transformation, causing its shares to slide.
- BNP Paribas Exane raised its recommendation on Industria de Diseno Textil to outperform from neutral as the Spanish clothing retailer is well-positioned to weather the tariff crisis.
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