WEBVTT - Rotork Soars, Ocado Dips, Crest Nicholson Down 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Well, let's take a look at some stocks on the

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<v Speaker 3>move today in Europe. I'm Stephen Carroll and I'm joined

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<v Speaker 3>by Bloomberg's Breaking News editor Louise Moon. Louise, good morning.

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<v Speaker 3>Let's start with the big deals news in the UK.

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<v Speaker 3>Forty two to fifty listed Roadtork being snapped up by

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<v Speaker 3>the Swiss group ABB.

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<v Speaker 1>Indeed yet a huge deal there. So that's for five

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<v Speaker 1>point five billion US dollars. So if we look at

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<v Speaker 1>ABB first shares fell just over three percent. They had

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<v Speaker 1>initially gained and then they fell separately. They had second

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<v Speaker 1>quarter results. Their numbers are strong, but the focus is

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<v Speaker 1>really on this buyout of their smaller arrival, road Talk.

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<v Speaker 4>As I say, five point five billion US dollars.

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<v Speaker 1>This is all in the industrial space, so some consolidation there.

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<v Speaker 1>It's its largest acquisition ever and essentially it's pushing more

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<v Speaker 1>into electrification automation, and lists are saying it makes strategic sense.

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<v Speaker 1>Road Talk is a high quality asset, but it's a

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<v Speaker 1>hefty price tag, So it's a big, big deal for

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<v Speaker 1>them now. The CEO has actually told BlueBag TV this

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<v Speaker 1>morning that they've got deep pockets for more deals. They're

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<v Speaker 1>in a strong position, they got strong balance sheep, as

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<v Speaker 1>I say. Shares falling slightly on that, on that, on

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<v Speaker 1>that hefty price tag. In terms of road Talk here

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<v Speaker 1>in London, shares sawed sixty seven percent initially at open.

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<v Speaker 1>For them, it's a premium for in terms of the

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<v Speaker 1>price that it's being bought for. But for London, obviously

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<v Speaker 1>it's another loss from the London Stock Exchange as we've

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<v Speaker 1>been seeing kind of across the board, and there are

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<v Speaker 1>other also deals ongoing at the moment as well, So

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<v Speaker 1>a loss for London, but for road Talk, shares up

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<v Speaker 1>sixty seven percent at open.

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<v Speaker 3>Okay, Well that's a share that's rising sharply. One that's

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<v Speaker 3>falling sharply though is a Cardo what's going on?

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<v Speaker 4>Yeah?

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<v Speaker 1>And more headwinds really for Rocado, so they've sunk to

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<v Speaker 1>twenty thirteen low. Shares are down fourteen percent this morning. Initially,

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<v Speaker 1>first glance looks relatively positive. It was their first half

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<v Speaker 1>results performers in line. They're expecting positive free cash flow

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<v Speaker 1>in the first half and in twenty twenty seven.

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<v Speaker 4>But there is still a lot of weakness there.

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<v Speaker 1>There's weakness in its key tech unit, and it's also

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<v Speaker 1>delayed the opening of two of its customer fulfillment centers

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<v Speaker 1>in the US that's a core part of its offering.

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<v Speaker 1>As I say, it's kind of the latest setback for Acado.

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<v Speaker 1>They've had two North American customers, two key North American customers,

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<v Speaker 1>pulling back on partnerships and shouting warehouses over the past

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<v Speaker 1>few months. That's kind of prompted questions over its entire

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<v Speaker 1>business model, struggling to convince investors essentially about the viability

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<v Speaker 1>of that business model, about its robot technology. That's also

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<v Speaker 1>triggered leadership questions. So the CEO is stepping down at

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<v Speaker 1>the start of twenty twenty eight. So they're in the

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<v Speaker 1>middle of final successor So despite what was seemingly relatively

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<v Speaker 1>positive of actual numbers for you know, the overriding numbers

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<v Speaker 1>that week performance in its tech unit and that that

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<v Speaker 1>setback in terms of those customers and the fulfillment centers

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<v Speaker 1>in the US is dragging a cardo this morning in London.

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<v Speaker 3>Okay, And finally you've got some news from the home

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<v Speaker 3>builder in the UK.

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<v Speaker 1>Chris Nicotton, Yes, first half results and the focus here

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<v Speaker 1>is it is on their financing, their funding essentially, so

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<v Speaker 1>these first results already been delayed.

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<v Speaker 4>They wanted more time for talks with their lenders.

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<v Speaker 1>They didn't want to breach their terms of its debt

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<v Speaker 1>and they've already offered sorry, already issued a series of

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<v Speaker 1>profit warnings. That was before the Iran war, and then

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<v Speaker 1>the Iran War kicked off, which is obviously further headwinds

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<v Speaker 1>for the whole housing and home building industry. Shares fell

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<v Speaker 1>again eight percent this morning, so they've avoided an equity raise.

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<v Speaker 1>They have a greed and extension with their lenders, but

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<v Speaker 1>Alyss is saying that is the only positive there. Chris

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<v Speaker 1>Nicholson also saying that four year earnings will be in

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<v Speaker 1>the lower half of the guidance. Rage volumes are down,

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<v Speaker 1>they're reducing land by their marketing noncore land for sale,

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<v Speaker 1>so you know that the funding issue may be sold

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<v Speaker 1>for now or until at least they've agreed the extension

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<v Speaker 1>till the end of September, but there's still questions over

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<v Speaker 1>its performance and a lot of headwinds in the housing market.

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<v Speaker 2>The stock movers report from Bloomberg Radio. Check back with

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