Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move
Speaker 1: today in Europe. I'm Stephen Carroll with Caroline Hepker, and
Speaker 1: we're joined by Bloomberg reporter Chloe Melee. Chloe, good morning.
Speaker 1: Let's start with Astrazeneka. That a big job in the
Speaker 1: shares of the pharmaceustical giant.
Speaker 3: What's going on, Yes, this is the back of some
Speaker 3: potential big m and a so Astra Zeneca is said
Speaker 3: to have explored a merger with Bristol Meyers squib and.
Speaker 3: So this would create one of the world's largest drug makers.
Speaker 3: It would be a really, really massive deal and also
Speaker 3: provide Astro with a major foothold in the US market.
Speaker 3: But it seems that investors are quite skeptical about the deal,
Speaker 3: given that something of this magnitude attends to be quite
Speaker 3: difficult to pull off, and which is why we are
Speaker 3: seeing the shares take quite the hit. This morning. We
Speaker 3: had Bloomberg Intelligence saying that the deal would make limited
Speaker 3: strategic sense for Astra and would likely be the subject
Speaker 3: to antitrust scrutiny as well. Jeffries, analyst said they were
Speaker 3: perplexed by the news, and then City analysts say that
Speaker 3: this comes as a surprise. So overall we can see
Speaker 3: there's a lot of questions around this from both investors
Speaker 3: and analysts, and so far Astra has a decline to
Speaker 3: comment on this, So we'll see if this kind of
Speaker 3: just goes away or if they confirm it, and if
Speaker 3: they do, if they try and justify that to investors
Speaker 3: and how they try and justify it.
Speaker 4: Yeah, okay, so that's on that well possible deal but
Speaker 4: not well received. Now this is really fascinating the energy
Speaker 4: gar and BP, you know, perhaps moving on from its
Speaker 4: home market. That is a big, big bit of news
Speaker 4: for the UK.
Speaker 1: Yeah.
Speaker 3: Absolutely, So there's a few things going on with VP.
Speaker 3: Of course, as you mentioned, this kind of ongoing simplification
Speaker 3: of its portfolio. Part of that this decision to put
Speaker 3: its UK norm see business up for sale, which has
Speaker 3: political and financial consequences. Of course, there's a lot going
Speaker 3: on outside of that. From a sector wide perspective. We've
Speaker 3: seen oil taking a bit of a hit this morning
Speaker 3: because the US and around are set to restart talks
Speaker 3: to reopen the Strait of Hormos, and as usual, this
Speaker 3: kind of optimism around a peace steal in the region
Speaker 3: means that oil prices go down and therefore oil majors
Speaker 3: are falling as well. And BP is also going to
Speaker 3: be very interesting to watch tomorrow because they actually report
Speaker 3: earnings tomorrow morning. They've already flagged that the second quarter
Speaker 3: results were going to be very strong because they benefited
Speaker 3: from a full three months of disrupted oil flows, and
Speaker 3: so far this third quarter it's been also very volatile.
Speaker 3: We've seen a lot of ups and downs. So we'll
Speaker 3: watch out for the results, the second quarter results and
Speaker 3: whatever they say about the outlook as well, and this
Speaker 3: ongoing portfolio changes as well.
Speaker 1: So that's on BP. We've also seen a boast for
Speaker 1: the tech silicon away from manufacturers Siltronic.
Speaker 3: Yes, Celtronic got upgraded to a by rating at UBS
Speaker 3: and so this is yet another upgrade after back to
Speaker 3: back upgrades just last week. So now the company has
Speaker 3: a total of nine by ratings, three holes, and just
Speaker 3: one sell on the stock. So it's one of those
Speaker 3: kind of smaller AI beneficiaries and analysts are very optimistic
Speaker 3: on the near term and the medium term demand as
Speaker 3: well for that company. There is still a little bit
Speaker 3: of caution around the pace of recovery, given that Ciltronic
Speaker 3: is not only exposed to this AI trade but also
Speaker 3: to the smartphone and PC and markets, and those are
Speaker 3: a little bit weaker. They're taking a little bit longer
Speaker 3: to recover because of those very high memoryship prices, the
Speaker 3: shortages that we've seen that as well. But overall, Celtronic
Speaker 3: is looking pretty solid, as we can see with those
Speaker 3: nine buys, and this latest upgrade this morning has really
Speaker 3: been driving that stock.
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