Ericsson Plunges, Watches of Switzerland Jumps, BP Gains

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Ericsson's shares fell as much as 10.3%, the most in about 18 months, after the Swedish company said margins for its main business will come under pressure this quarter.
- Watches of Switzerland’s annual revenue jumped by 13%, underpinned by strong US demand that the luxury watch retailer said is laying the foundation for long-term profit growth.
- BP shares gain as much as 3.3% to touch a one-month high as Jefferies noted that the oil major’s net debt estimates for the second quarter had undershot expectations.

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