WEBVTT - AstraZeneca Plummets, BP Falls, Siltronic Rises

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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

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

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<v Speaker 1>Let's take a look at some stocks on the move

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<v Speaker 1>today in Europe. I'm Stephen Carroll with Caroline Hepker, and

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<v Speaker 1>we're joined by Bloomberg reporter Chloe Melee. Chloe, good morning.

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<v Speaker 1>Let's start with Astrazeneka. That a big job in the

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<v Speaker 1>shares of the pharmaceustical giant.

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<v Speaker 3>What's going on, Yes, this is the back of some

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<v Speaker 3>potential big m and a so Astra Zeneca is said

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<v Speaker 3>to have explored a merger with Bristol Meyers squib and.

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<v Speaker 3>So this would create one of the world's largest drug makers.

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<v Speaker 3>It would be a really, really massive deal and also

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<v Speaker 3>provide Astro with a major foothold in the US market.

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<v Speaker 3>But it seems that investors are quite skeptical about the deal,

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<v Speaker 3>given that something of this magnitude attends to be quite

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<v Speaker 3>difficult to pull off, and which is why we are

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<v Speaker 3>seeing the shares take quite the hit. This morning. We

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<v Speaker 3>had Bloomberg Intelligence saying that the deal would make limited

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<v Speaker 3>strategic sense for Astra and would likely be the subject

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<v Speaker 3>to antitrust scrutiny as well. Jeffries, analyst said they were

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<v Speaker 3>perplexed by the news, and then City analysts say that

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<v Speaker 3>this comes as a surprise. So overall we can see

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<v Speaker 3>there's a lot of questions around this from both investors

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<v Speaker 3>and analysts, and so far Astra has a decline to

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<v Speaker 3>comment on this, So we'll see if this kind of

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<v Speaker 3>just goes away or if they confirm it, and if

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<v Speaker 3>they do, if they try and justify that to investors

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<v Speaker 3>and how they try and justify it.

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<v Speaker 4>Yeah, okay, so that's on that well possible deal but

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<v Speaker 4>not well received. Now this is really fascinating the energy

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<v Speaker 4>gar and BP, you know, perhaps moving on from its

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<v Speaker 4>home market. That is a big, big bit of news

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<v Speaker 4>for the UK.

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<v Speaker 1>Yeah.

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<v Speaker 3>Absolutely, So there's a few things going on with VP.

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<v Speaker 3>Of course, as you mentioned, this kind of ongoing simplification

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<v Speaker 3>of its portfolio. Part of that this decision to put

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<v Speaker 3>its UK norm see business up for sale, which has

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<v Speaker 3>political and financial consequences. Of course, there's a lot going

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<v Speaker 3>on outside of that. From a sector wide perspective. We've

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<v Speaker 3>seen oil taking a bit of a hit this morning

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<v Speaker 3>because the US and around are set to restart talks

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<v Speaker 3>to reopen the Strait of Hormos, and as usual, this

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<v Speaker 3>kind of optimism around a peace steal in the region

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<v Speaker 3>means that oil prices go down and therefore oil majors

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<v Speaker 3>are falling as well. And BP is also going to

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<v Speaker 3>be very interesting to watch tomorrow because they actually report

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<v Speaker 3>earnings tomorrow morning. They've already flagged that the second quarter

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<v Speaker 3>results were going to be very strong because they benefited

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<v Speaker 3>from a full three months of disrupted oil flows, and

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<v Speaker 3>so far this third quarter it's been also very volatile.

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<v Speaker 3>We've seen a lot of ups and downs. So we'll

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<v Speaker 3>watch out for the results, the second quarter results and

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<v Speaker 3>whatever they say about the outlook as well, and this

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<v Speaker 3>ongoing portfolio changes as well.

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<v Speaker 1>So that's on BP. We've also seen a boast for

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<v Speaker 1>the tech silicon away from manufacturers Siltronic.

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<v Speaker 3>Yes, Celtronic got upgraded to a by rating at UBS

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<v Speaker 3>and so this is yet another upgrade after back to

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<v Speaker 3>back upgrades just last week. So now the company has

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<v Speaker 3>a total of nine by ratings, three holes, and just

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<v Speaker 3>one sell on the stock. So it's one of those

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<v Speaker 3>kind of smaller AI beneficiaries and analysts are very optimistic

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<v Speaker 3>on the near term and the medium term demand as

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<v Speaker 3>well for that company. There is still a little bit

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<v Speaker 3>of caution around the pace of recovery, given that Ciltronic

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<v Speaker 3>is not only exposed to this AI trade but also

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<v Speaker 3>to the smartphone and PC and markets, and those are

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<v Speaker 3>a little bit weaker. They're taking a little bit longer

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<v Speaker 3>to recover because of those very high memoryship prices, the

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<v Speaker 3>shortages that we've seen that as well. But overall, Celtronic

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<v Speaker 3>is looking pretty solid, as we can see with those

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<v Speaker 3>nine buys, and this latest upgrade this morning has really

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<v Speaker 3>been driving that stock.

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