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SAP Jumps, Volvo Rises, Electrolux Sinks
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- SAP shares rise as much as 6.1% after reporting current cloud backlog — a crucial indicator for future revenue to be booked — maintained a 25% growth rate on constant-currency terms in 1Q, beating expectations.
- Volvo lifted its outlook for the European truck market after orders increased, with business activity also improving in the Americas. The Middle East conflict has not caused any major disruptions in Volvo’s supply chain, the company said, adding that it will monitor how it may affect demand down the road.
- Electrolux falls as much as 25%, the most on record, after the Swedish home appliances group reported significantly weaker-than-expected 1Q figures, driven by poor performance in its key North American market.
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