WEBVTT - EasyJet Surges, Schneider Electric Rises, Universal Dips

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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 here in Europe today. I'm Caroline Hedger with

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<v Speaker 3>Lizzie Burden. Were joined Bablinberg with Portaclomla. Good morning, So

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<v Speaker 3>let's start with the easy Jet surging today after what

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<v Speaker 3>it called a highly opportunistic takeover bit tell us small.

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<v Speaker 4>Yeah, EasyJet is attracting some say takeover interest because its

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<v Speaker 4>share price is struggling so bad. So it said that

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<v Speaker 4>it hasn't had any talks yet with the investment firm

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<v Speaker 4>Castle Lake, which had said on Friday evening that it

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<v Speaker 4>was considering an offer for easy Jet, and EasyJet is

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<v Speaker 4>called the approach highly opportunistic given the very depressed stock

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<v Speaker 4>price at the moment, because of course those higher fuel

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<v Speaker 4>costers flight disruptions really weighing on the company and it

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<v Speaker 4>has been underperforming Ryan there, which is really its closest

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<v Speaker 4>rival by quite a large margin because Ryana is benefiting

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<v Speaker 4>from some of those feel hedges. So right now there

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<v Speaker 4>are no talks on going as of yet, and easy

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<v Speaker 4>Jet said that they was confident in this strategy going forward,

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<v Speaker 4>but it seems that investors might actually be quite keen

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<v Speaker 4>on a deal potentially, So we saw shares really surging

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<v Speaker 4>this morning and some analysts as saying that Castle Lake

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<v Speaker 4>was a credible bidder that EasyJet has got some big

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<v Speaker 4>question marks over his future of his strategy, and so

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<v Speaker 4>this could mark the first big example of this kind

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<v Speaker 4>of consolidation this m and a activity in the airline

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<v Speaker 4>industry which a lot of investors in industry experts have

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<v Speaker 4>been talking about because of those higher fuel costs, and

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<v Speaker 4>this is something that the British Airways owner IH has

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<v Speaker 4>already pointed to, saying that this creates an opportunity to

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<v Speaker 4>potentially snap up some rival. So we could see actually

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<v Speaker 4>EasyJet being part of that. And Castle Lake has until

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<v Speaker 4>June twenty sixth, so just a few weeks to make

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<v Speaker 4>a formal offer to walk away, so we'll definitely keep

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<v Speaker 4>an eye on that. But in the meantime, those shares

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<v Speaker 4>are really rising very strongly for easy Jet.

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<v Speaker 1>Yeah, and in fact pairing some of the earlier gains,

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<v Speaker 1>but still up a whopping amount twelve point four percent

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<v Speaker 1>at the moment, Let's also tend to Shider Electric Chloe

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<v Speaker 1>because those shares are gaining. But we've also got tech

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<v Speaker 1>as a sector of So is this a Schneider story

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<v Speaker 1>or is it a broader tech story.

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<v Speaker 4>It's more of a broader text story, but Schneider very

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<v Speaker 4>much at the center of it. So a lot of

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<v Speaker 4>those data center equipment companies overall doing very well today,

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<v Speaker 4>so Schneider look on. We also have Semen's Energy, which

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<v Speaker 4>is a company that provides some of those guest turbines

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<v Speaker 4>to feed that data center power Prism is the Italian

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<v Speaker 4>company that makes cables for for that data center industry

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<v Speaker 4>as well. So the sector as a whole is reacting

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<v Speaker 4>to a couple of things we have. It's kind of

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<v Speaker 4>overall optimism in the AI the tech sector, given and

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<v Speaker 4>video announcing it would enter the PC market, so that

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<v Speaker 4>indicates even more investment in this chip making and then

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<v Speaker 4>also specifically for French names, so Schneider and look there's

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<v Speaker 4>also a major investment from soft Bank in French data centers,

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<v Speaker 4>so the company plans to invest as much as seventy

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<v Speaker 4>five billion dollars in the country with that's one of

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<v Speaker 4>the biggest AI infrastructure investment in Europe from soft Bank,

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<v Speaker 4>and so that could obviously very really benefit some of

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<v Speaker 4>those companies, and we're seeing the share price react to

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<v Speaker 4>that this morning.

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<v Speaker 3>Okay, so that on Schneider Electric. Meanwhile, Universal Music Group

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<v Speaker 3>dipping slightly.

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<v Speaker 4>Why, Yeah, some weekness there for Universal after rejecting an

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<v Speaker 4>offer from Bill Ackman's Pershing Square. So said that the

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<v Speaker 4>offer was too low, that the deal was not in

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<v Speaker 4>the interests of either the shareholders or the artists that

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<v Speaker 4>Universal represents. The offer that Pershing Square had made was

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<v Speaker 4>quite a complex one and it had already drawn abit

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<v Speaker 4>of skepticism from from investors, so it would have had

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<v Speaker 4>to win over the French billionaire von Bolo, who is

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<v Speaker 4>a Universal's biggest shareholder, and Son said last week that

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<v Speaker 4>the offer under values the business and called on the

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<v Speaker 4>company to reject it. So we're essentially now a bit

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<v Speaker 4>of an invest with this. So Universal has taken some

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<v Speaker 4>steps to improve performance. It's it's sold half of its

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<v Speaker 4>stake in Spotify, it increases share buyback program, but it

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<v Speaker 4>seems that investors are not quite convinced, and so we're

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<v Speaker 4>seeing a little bit of weakness there for Universal.

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