WEBVTT - Delivery Hero Falls, L'Oreal Up, Soitec Surges 

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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>Let's take a look at some of the stocks on

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<v Speaker 3>the move today in Europe. I'm Jas Wilkock with Caroline Hecker,

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<v Speaker 3>and we're joined by Bloomberg reporter Clay mate Chloe. Let's

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<v Speaker 3>start with Delivery Hero. It's in the spotlight this morning

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<v Speaker 3>after Uber raised its steak in the company. Essay, how

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<v Speaker 3>are investors taking that?

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<v Speaker 1>Yeah, so we are getting closer to Uber buying Delivery Hero.

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<v Speaker 1>So there was a takeover offer over the weekend there

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<v Speaker 1>would value Delivery Hero at about ten billion euros. And

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<v Speaker 1>then last night, as you said, we had Uber raising

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<v Speaker 1>its stake in the company, essentially buying out the shares

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<v Speaker 1>in Delivery Hero that were held by Aspects Management, which

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<v Speaker 1>is an activist investor that has successfully lobbied to get

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<v Speaker 1>rid of the CEO. Uber was already the biggest shareholders,

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<v Speaker 1>is now even bigger, although it's right below currently the

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<v Speaker 1>threshold that is necessary for a mandatory offer to be triggered,

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<v Speaker 1>and so that actually lays the groundwork for a deal

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<v Speaker 1>but interestingly, we are seeing some weakness in delivery or

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<v Speaker 1>shares this morning after what has been a very strong

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<v Speaker 1>month of May for the company. So there might be

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<v Speaker 1>some concerns potentially about the deal itself. You know, Uber

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<v Speaker 1>may need to obtain some antitrust approvals in some of

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<v Speaker 1>the various markets where Delivery Hero operates if it wants

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<v Speaker 1>to continue increasing that shareholding in the event of a deal.

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<v Speaker 1>It might also be about the price. You know, the

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<v Speaker 1>takeover offer offered no premium to the most recent share

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<v Speaker 1>price in Delivery Hero. But in any case, we are

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<v Speaker 1>seeing some weakness today in that company.

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<v Speaker 4>Okay, so that on Uber Now an upgrade for Laureal.

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<v Speaker 4>What's happening with the cosmetics the beauty business.

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<v Speaker 1>Yeah, it's apparently going very well well according to Berenberg

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<v Speaker 1>at Lee. So barren Berg Andlis have upgraded Lorel to

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<v Speaker 1>by rating, saying that a growth is returning to historical

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<v Speaker 1>levels for the company and that inflationary pressures are quite

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<v Speaker 1>manageable despite the consumer uncertainty that of course we've been

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<v Speaker 1>talking about because of the war in Iran, and so

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<v Speaker 1>they have quite a positive outlook overall on the beauty industry,

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<v Speaker 1>saying that younger consumers are really wanting a lot more

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<v Speaker 1>skincare for example, that there is a rising middle class

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<v Speaker 1>in some emerging markets, which is also a big boost

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<v Speaker 1>as well. And they said that the consumer staple sector

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<v Speaker 1>as a whole had been a snub really for no

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<v Speaker 1>good reason, and so Lorel would be actually quite well

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<v Speaker 1>positioned to take advantage of some of those market dynamics.

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<v Speaker 1>And Loreal has already been outperforming some of its peers recently.

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<v Speaker 1>And we also know that the deal between es Silda

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<v Speaker 1>and Pooge has fallen apart, and so that means that

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<v Speaker 1>the threat of a big rival is now gone. So

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<v Speaker 1>it seems that there's actually good news all around for

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<v Speaker 1>Laura Alan. So up this morning on the back of

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<v Speaker 1>that upgrade.

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<v Speaker 4>Yeah. Interesting reading around that story, I learned a new

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<v Speaker 4>word for the beauty industry. Do you know this, James,

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<v Speaker 4>I worried dupes Apparently missed serums and dupes other things

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<v Speaker 4>that people are by a dupe being an affordable version

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<v Speaker 4>or a duplicate of a kind of luxury item. So

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<v Speaker 4>that apparently, in the cost of living crisis is what

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<v Speaker 4>you need for your beauty regime.

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<v Speaker 3>They go a new word, your Stephen Carroll Dupe for

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<v Speaker 3>the week. Finally, Chloe, this is a semiconductive material maker

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<v Speaker 3>from France whose name I admit I've not heard before,

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<v Speaker 3>so forgive me for Swetek. What is driving gains there?

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<v Speaker 1>Yes, Sweatech. I pronounces Swetek earlier, which is really wrong

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<v Speaker 1>given that I'm French, so I should I should say Sweatic.

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<v Speaker 1>So it is a French semiconductive materials company. Had very

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<v Speaker 1>strong results out today, so revenue came in ahead of expectations.

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<v Speaker 1>It also projected very strong revenue for the current quarter

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<v Speaker 1>and that has led to a big surge in the

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<v Speaker 1>chares this morning, and it was also brought the eye

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<v Speaker 1>to day rally in the shears to about six hundred

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<v Speaker 1>and fifty percent. So that's a company that's been doing really,

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<v Speaker 1>really well throughout this year. So it's one of the

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<v Speaker 1>big beneficiaries of this continued enthusiasm around chip makers and

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<v Speaker 1>chip making equipment firms that we've seen really across the world.

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<v Speaker 1>That's driven of course by the AI rush, but then

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<v Speaker 1>also a recovery in some and markets like automotive and

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<v Speaker 1>market in the industrial and market as well. Some analysts

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<v Speaker 1>did point out to a bit of a week outlook

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<v Speaker 1>for the rest of the year, though, so some of

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<v Speaker 1>that weakness might start to come through a little bit

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<v Speaker 1>later down the line. And you know, when expectations are

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<v Speaker 1>that high, when the market is kind of so excited,

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<v Speaker 1>it's usually kind of a major cliff to fall off of.

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<v Speaker 1>So we'll have to keep watching out for swatch.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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<v Speaker 4>Mm HM