1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,640 --> 00:00:18,400 Speaker 3: Let's have a look at the stocks on the move 5 00:00:18,440 --> 00:00:21,520 Speaker 3: today here in eure If. I'm Caroline Hepker alongside Jamana Bassecci. 6 00:00:21,600 --> 00:00:25,079 Speaker 3: We're joined by Bloomberg a reporter Chloone Malay. Good morning. 7 00:00:25,120 --> 00:00:29,319 Speaker 3: So a nose dive for Temenos, the Swiss banking tech 8 00:00:29,600 --> 00:00:32,040 Speaker 3: specialist in early trading in Europe. 9 00:00:32,200 --> 00:00:36,360 Speaker 1: Yeah, absolutely so. Teminos replaced it CEO effective immediately last night. 10 00:00:36,440 --> 00:00:38,880 Speaker 1: So the CEO, Jean Pierre boul had been in place 11 00:00:38,920 --> 00:00:41,120 Speaker 1: for just a little over a year. He joined in 12 00:00:41,159 --> 00:00:44,160 Speaker 1: May twenty four, and he'll be replaced by the current 13 00:00:44,280 --> 00:00:47,000 Speaker 1: CFO on an interim basis. So this came as a 14 00:00:47,040 --> 00:00:49,320 Speaker 1: bit of a surprise, and the chairman said on a 15 00:00:49,320 --> 00:00:52,400 Speaker 1: conference call, we are not aggressively against Jean Pierre, which 16 00:00:52,400 --> 00:00:54,360 Speaker 1: sounds like they are maybe at least a little bit 17 00:00:54,440 --> 00:00:57,040 Speaker 1: against him, and he said that after care for deliberation, 18 00:00:57,160 --> 00:00:59,600 Speaker 1: they have determined that to have a fully functional team 19 00:00:59,640 --> 00:01:02,720 Speaker 1: it is to let Jean Pierre go. So the market 20 00:01:02,760 --> 00:01:05,520 Speaker 1: reacted quite badly to this, because of course that raises 21 00:01:05,600 --> 00:01:08,800 Speaker 1: questions about the stability of that of that company and 22 00:01:08,840 --> 00:01:12,800 Speaker 1: the strategic direction. After letting the CEO go just after 23 00:01:12,920 --> 00:01:17,000 Speaker 1: a year of being being in place, Brilla had overseen 24 00:01:17,080 --> 00:01:21,120 Speaker 1: quite a drastic reduction in midterm targets that better aligned 25 00:01:21,120 --> 00:01:24,560 Speaker 1: with estimates. But the performance has been quite uneven photemenos 26 00:01:24,600 --> 00:01:27,240 Speaker 1: and the company still has some work to do even 27 00:01:27,280 --> 00:01:30,080 Speaker 1: more now to kind of get back into investors good graces. 28 00:01:31,520 --> 00:01:35,319 Speaker 3: And also in focus is the Danish wind developer or Sted. 29 00:01:35,520 --> 00:01:36,960 Speaker 3: What did their latest profit. 30 00:01:36,720 --> 00:01:37,520 Speaker 2: Outlook tell us? 31 00:01:37,920 --> 00:01:40,839 Speaker 1: Yeah, so it's definitely a tough year, tough few last 32 00:01:40,840 --> 00:01:42,360 Speaker 1: few weeks at least, we all said, with a lot 33 00:01:42,400 --> 00:01:45,280 Speaker 1: of different setbacks. The latest, as you say, is that 34 00:01:46,280 --> 00:01:50,280 Speaker 1: they cut their profit forecast range this morning, and that 35 00:01:50,400 --> 00:01:53,240 Speaker 1: comes right before a very important vote that is taking 36 00:01:53,440 --> 00:01:56,639 Speaker 1: place today, so shareholders will be voting on the rights 37 00:01:56,680 --> 00:01:59,480 Speaker 1: offering that Alsaid announced back in August in which it 38 00:01:59,520 --> 00:02:03,240 Speaker 1: said was now necessary to bolster its finances. The reason 39 00:02:03,320 --> 00:02:05,200 Speaker 1: why it needs to do that is because Trump has 40 00:02:05,320 --> 00:02:08,160 Speaker 1: a big vendetta against offshore wind. It says that it 41 00:02:08,240 --> 00:02:11,240 Speaker 1: kills birds, that it causes cancer, and he's really trying 42 00:02:11,280 --> 00:02:14,320 Speaker 1: to hold all of those different projects. And he recently 43 00:02:14,760 --> 00:02:17,760 Speaker 1: ordered all Said to stop working on a big six 44 00:02:17,800 --> 00:02:20,680 Speaker 1: point three billion dollar project of the coast of Rhode 45 00:02:20,680 --> 00:02:23,120 Speaker 1: Island in the US, and that was a project that 46 00:02:23,240 --> 00:02:26,440 Speaker 1: was really close to completion. And all Said is also 47 00:02:26,720 --> 00:02:30,120 Speaker 1: suing the Trump administration to try and revive the construction 48 00:02:30,200 --> 00:02:32,040 Speaker 1: of that wind farm. So there's a lot going on. 49 00:02:32,120 --> 00:02:35,200 Speaker 1: But obviously now all eyes are kind of turned on 50 00:02:35,240 --> 00:02:36,639 Speaker 1: that vote on that capital raise. 51 00:02:37,080 --> 00:02:39,160 Speaker 3: Yeah, he also doesn't like the look of them. He 52 00:02:39,280 --> 00:02:41,880 Speaker 3: complained about the look of them, you know, close to 53 00:02:41,880 --> 00:02:45,000 Speaker 3: his golf clubs for example in here in the UK. 54 00:02:45,320 --> 00:02:46,359 Speaker 1: A real vendetta. 55 00:02:46,919 --> 00:02:52,040 Speaker 3: In terms of another story, then Hexagon's design business and acquisition. 56 00:02:52,320 --> 00:02:55,119 Speaker 3: How's the market reacting to that? Yeah, quite well. 57 00:02:55,160 --> 00:02:58,560 Speaker 1: So Hexagon is a Swedish industrial business, and there's a 58 00:02:58,680 --> 00:03:02,800 Speaker 1: US based company called Cadence Design Systems, which is a 59 00:03:02,840 --> 00:03:06,800 Speaker 1: company that makes essentially software and hardware to help companies 60 00:03:06,880 --> 00:03:10,480 Speaker 1: design electronic products, which is quite niche but quite an 61 00:03:10,520 --> 00:03:14,000 Speaker 1: important industry, and it has agreed to acquire Hexcon's design 62 00:03:14,000 --> 00:03:18,520 Speaker 1: and engineering unit for two point seven billion euros. Cadence 63 00:03:18,639 --> 00:03:20,880 Speaker 1: is trying to kind of get in on the explosion 64 00:03:20,880 --> 00:03:26,360 Speaker 1: in spending on artificial intelligence computing, and obviously that is 65 00:03:26,400 --> 00:03:30,040 Speaker 1: because there's an increasing cost of building really complex products 66 00:03:30,080 --> 00:03:33,320 Speaker 1: like aircraft or vehicles, and so there's a push to 67 00:03:33,360 --> 00:03:36,360 Speaker 1: test those new designs in simulations on computers that can 68 00:03:36,440 --> 00:03:39,800 Speaker 1: kind of model the impact of real world phenomena like 69 00:03:40,040 --> 00:03:43,640 Speaker 1: heat we'll have, for example, on performance. And so what 70 00:03:43,720 --> 00:03:46,640 Speaker 1: this acquisition will enable Cadence to do is to do 71 00:03:46,680 --> 00:03:50,200 Speaker 1: that better, do those simulations better. Cadence also said that 72 00:03:50,240 --> 00:03:53,760 Speaker 1: the acquisition will allow it to add customers in new markets, 73 00:03:53,760 --> 00:03:58,680 Speaker 1: including Volkswagen, Toyota, and Bae Systems, and so that acquisition 74 00:03:58,760 --> 00:04:02,160 Speaker 1: for hex Con was received also quite positively for the market. 75 00:04:03,320 --> 00:04:07,520 Speaker 2: The Stockmover's Report from Bloomberg Radio. Check back with us 76 00:04:07,600 --> 00:04:10,400 Speaker 2: throughout the day for the latest roundup of companies making 77 00:04:10,480 --> 00:04:14,080 Speaker 2: news on Wall Street and for the latest market moving headlines. 78 00:04:14,280 --> 00:04:18,279 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 79 00:04:18,360 --> 00:04:21,400 Speaker 2: dot com, and on Applecarplay and Android Auto with the 80 00:04:21,440 --> 00:04:22,799 Speaker 2: Bloomberg Business app.