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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 here in Europe today. I'm Caroline Hedger with
Speaker 3: Lizzie Burden. Were joined Bablinberg with Portaclomla. Good morning, So
Speaker 3: let's start with the easy Jet surging today after what
Speaker 3: it called a highly opportunistic takeover bit tell us small.
Speaker 4: Yeah, EasyJet is attracting some say takeover interest because its
Speaker 4: share price is struggling so bad. So it said that
Speaker 4: it hasn't had any talks yet with the investment firm
Speaker 4: Castle Lake, which had said on Friday evening that it
Speaker 4: was considering an offer for easy Jet, and EasyJet is
Speaker 4: called the approach highly opportunistic given the very depressed stock
Speaker 4: price at the moment, because of course those higher fuel
Speaker 4: costers flight disruptions really weighing on the company and it
Speaker 4: has been underperforming Ryan there, which is really its closest
Speaker 4: rival by quite a large margin because Ryana is benefiting
Speaker 4: from some of those feel hedges. So right now there
Speaker 4: are no talks on going as of yet, and easy
Speaker 4: Jet said that they was confident in this strategy going forward,
Speaker 4: but it seems that investors might actually be quite keen
Speaker 4: on a deal potentially, So we saw shares really surging
Speaker 4: this morning and some analysts as saying that Castle Lake
Speaker 4: was a credible bidder that EasyJet has got some big
Speaker 4: question marks over his future of his strategy, and so
Speaker 4: this could mark the first big example of this kind
Speaker 4: of consolidation this m and a activity in the airline
Speaker 4: industry which a lot of investors in industry experts have
Speaker 4: been talking about because of those higher fuel costs, and
Speaker 4: this is something that the British Airways owner IH has
Speaker 4: already pointed to, saying that this creates an opportunity to
Speaker 4: potentially snap up some rival. So we could see actually
Speaker 4: EasyJet being part of that. And Castle Lake has until
Speaker 4: June twenty sixth, so just a few weeks to make
Speaker 4: a formal offer to walk away, so we'll definitely keep
Speaker 4: an eye on that. But in the meantime, those shares
Speaker 4: are really rising very strongly for easy Jet.
Speaker 1: Yeah, and in fact pairing some of the earlier gains,
Speaker 1: but still up a whopping amount twelve point four percent
Speaker 1: at the moment, Let's also tend to Shider Electric Chloe
Speaker 1: because those shares are gaining. But we've also got tech
Speaker 1: as a sector of So is this a Schneider story
Speaker 1: or is it a broader tech story.
Speaker 4: It's more of a broader text story, but Schneider very
Speaker 4: much at the center of it. So a lot of
Speaker 4: those data center equipment companies overall doing very well today,
Speaker 4: so Schneider look on. We also have Semen's Energy, which
Speaker 4: is a company that provides some of those guest turbines
Speaker 4: to feed that data center power Prism is the Italian
Speaker 4: company that makes cables for for that data center industry
Speaker 4: as well. So the sector as a whole is reacting
Speaker 4: to a couple of things we have. It's kind of
Speaker 4: overall optimism in the AI the tech sector, given and
Speaker 4: video announcing it would enter the PC market, so that
Speaker 4: indicates even more investment in this chip making and then
Speaker 4: also specifically for French names, so Schneider and look there's
Speaker 4: also a major investment from soft Bank in French data centers,
Speaker 4: so the company plans to invest as much as seventy
Speaker 4: five billion dollars in the country with that's one of
Speaker 4: the biggest AI infrastructure investment in Europe from soft Bank,
Speaker 4: and so that could obviously very really benefit some of
Speaker 4: those companies, and we're seeing the share price react to
Speaker 4: that this morning.
Speaker 3: Okay, so that on Schneider Electric. Meanwhile, Universal Music Group
Speaker 3: dipping slightly.
Speaker 4: Why, Yeah, some weekness there for Universal after rejecting an
Speaker 4: offer from Bill Ackman's Pershing Square. So said that the
Speaker 4: offer was too low, that the deal was not in
Speaker 4: the interests of either the shareholders or the artists that
Speaker 4: Universal represents. The offer that Pershing Square had made was
Speaker 4: quite a complex one and it had already drawn abit
Speaker 4: of skepticism from from investors, so it would have had
Speaker 4: to win over the French billionaire von Bolo, who is
Speaker 4: a Universal's biggest shareholder, and Son said last week that
Speaker 4: the offer under values the business and called on the
Speaker 4: company to reject it. So we're essentially now a bit
Speaker 4: of an invest with this. So Universal has taken some
Speaker 4: steps to improve performance. It's it's sold half of its
Speaker 4: stake in Spotify, it increases share buyback program, but it
Speaker 4: seems that investors are not quite convinced, and so we're
Speaker 4: seeing a little bit of weakness there for Universal.
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