Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks on
Speaker 3: the move today in Europe. I'm Jas Wilkock with Caroline Hecker,
Speaker 3: and we're joined by Bloomberg reporter Clay mate Chloe. Let's
Speaker 3: start with Delivery Hero. It's in the spotlight this morning
Speaker 3: after Uber raised its steak in the company. Essay, how
Speaker 3: are investors taking that?
Speaker 1: Yeah, so we are getting closer to Uber buying Delivery Hero.
Speaker 1: So there was a takeover offer over the weekend there
Speaker 1: would value Delivery Hero at about ten billion euros. And
Speaker 1: then last night, as you said, we had Uber raising
Speaker 1: its stake in the company, essentially buying out the shares
Speaker 1: in Delivery Hero that were held by Aspects Management, which
Speaker 1: is an activist investor that has successfully lobbied to get
Speaker 1: rid of the CEO. Uber was already the biggest shareholders,
Speaker 1: is now even bigger, although it's right below currently the
Speaker 1: threshold that is necessary for a mandatory offer to be triggered,
Speaker 1: and so that actually lays the groundwork for a deal
Speaker 1: but interestingly, we are seeing some weakness in delivery or
Speaker 1: shares this morning after what has been a very strong
Speaker 1: month of May for the company. So there might be
Speaker 1: some concerns potentially about the deal itself. You know, Uber
Speaker 1: may need to obtain some antitrust approvals in some of
Speaker 1: the various markets where Delivery Hero operates if it wants
Speaker 1: to continue increasing that shareholding in the event of a deal.
Speaker 1: It might also be about the price. You know, the
Speaker 1: takeover offer offered no premium to the most recent share
Speaker 1: price in Delivery Hero. But in any case, we are
Speaker 1: seeing some weakness today in that company.
Speaker 4: Okay, so that on Uber Now an upgrade for Laureal.
Speaker 4: What's happening with the cosmetics the beauty business.
Speaker 1: Yeah, it's apparently going very well well according to Berenberg
Speaker 1: at Lee. So barren Berg Andlis have upgraded Lorel to
Speaker 1: by rating, saying that a growth is returning to historical
Speaker 1: levels for the company and that inflationary pressures are quite
Speaker 1: manageable despite the consumer uncertainty that of course we've been
Speaker 1: talking about because of the war in Iran, and so
Speaker 1: they have quite a positive outlook overall on the beauty industry,
Speaker 1: saying that younger consumers are really wanting a lot more
Speaker 1: skincare for example, that there is a rising middle class
Speaker 1: in some emerging markets, which is also a big boost
Speaker 1: as well. And they said that the consumer staple sector
Speaker 1: as a whole had been a snub really for no
Speaker 1: good reason, and so Lorel would be actually quite well
Speaker 1: positioned to take advantage of some of those market dynamics.
Speaker 1: And Loreal has already been outperforming some of its peers recently.
Speaker 1: And we also know that the deal between es Silda
Speaker 1: and Pooge has fallen apart, and so that means that
Speaker 1: the threat of a big rival is now gone. So
Speaker 1: it seems that there's actually good news all around for
Speaker 1: Laura Alan. So up this morning on the back of
Speaker 1: that upgrade.
Speaker 4: Yeah. Interesting reading around that story, I learned a new
Speaker 4: word for the beauty industry. Do you know this, James,
Speaker 4: I worried dupes Apparently missed serums and dupes other things
Speaker 4: that people are by a dupe being an affordable version
Speaker 4: or a duplicate of a kind of luxury item. So
Speaker 4: that apparently, in the cost of living crisis is what
Speaker 4: you need for your beauty regime.
Speaker 3: They go a new word, your Stephen Carroll Dupe for
Speaker 3: the week. Finally, Chloe, this is a semiconductive material maker
Speaker 3: from France whose name I admit I've not heard before,
Speaker 3: so forgive me for Swetek. What is driving gains there?
Speaker 1: Yes, Sweatech. I pronounces Swetek earlier, which is really wrong
Speaker 1: given that I'm French, so I should I should say Sweatic.
Speaker 1: So it is a French semiconductive materials company. Had very
Speaker 1: strong results out today, so revenue came in ahead of expectations.
Speaker 1: It also projected very strong revenue for the current quarter
Speaker 1: and that has led to a big surge in the
Speaker 1: chares this morning, and it was also brought the eye
Speaker 1: to day rally in the shears to about six hundred
Speaker 1: and fifty percent. So that's a company that's been doing really,
Speaker 1: really well throughout this year. So it's one of the
Speaker 1: big beneficiaries of this continued enthusiasm around chip makers and
Speaker 1: chip making equipment firms that we've seen really across the world.
Speaker 1: That's driven of course by the AI rush, but then
Speaker 1: also a recovery in some and markets like automotive and
Speaker 1: market in the industrial and market as well. Some analysts
Speaker 1: did point out to a bit of a week outlook
Speaker 1: for the rest of the year, though, so some of
Speaker 1: that weakness might start to come through a little bit
Speaker 1: later down the line. And you know, when expectations are
Speaker 1: that high, when the market is kind of so excited,
Speaker 1: it's usually kind of a major cliff to fall off of.
Speaker 1: So we'll have to keep watching out for swatch.
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Speaker 4: Mm HM