Stock Movers SAP Plunges, STMicro Rises, Deutsche Bank Declines
Jan 29, 2026
Chloe Mellie, a Bloomberg market reporter, breaks down big stock moves and company reactions. She explains SAP’s steep sell-off after cloud-backlog news. She covers STMicroelectronics’ upbeat revenue outlook and signs of chip-demand recovery. She discusses Deutsche Bank’s payouts and the market’s wary response to recent regulatory headlines.
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Cloud Backlog Shortfall Spurs Big Selloff
- SAP's cloud backlog missed targets and spooked investors, signalling deeper concern about its cloud pivot.
- Investors fear AI disruption could undercut SAP's enterprise software subscription strategy despite a €10bn buyback.
Use Cloud Backlog As A Leading Signal
- Track cloud backlog as a leading indicator for future revenue when valuing enterprise software firms.
- Treat backlog misses as signals that can materially change investor sentiment and share price momentum.
Chip Demand Rebound Beyond AI
- STMicro's better-than-expected Q1 revenue outlook suggests consumer and industrial chip demand is recovering.
- The results mirror signs from Texas Instruments that non-AI end markets are working through inventory and restarting purchases.