WEBVTT - Temenos Falls, Orsted Drops, Hexagon

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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 3>Let's have a look at the stocks on the move

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<v Speaker 3>today here in eure If. I'm Caroline Hepker alongside Jamana Bassecci.

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<v Speaker 3>We're joined by Bloomberg a reporter Chloone Malay. Good morning.

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<v Speaker 3>So a nose dive for Temenos, the Swiss banking tech

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<v Speaker 3>specialist in early trading in Europe.

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<v Speaker 1>Yeah, absolutely so. Teminos replaced it CEO effective immediately last night.

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<v Speaker 1>So the CEO, Jean Pierre boul had been in place

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<v Speaker 1>for just a little over a year. He joined in

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<v Speaker 1>May twenty four, and he'll be replaced by the current

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<v Speaker 1>CFO on an interim basis. So this came as a

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<v Speaker 1>bit of a surprise, and the chairman said on a

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<v Speaker 1>conference call, we are not aggressively against Jean Pierre, which

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<v Speaker 1>sounds like they are maybe at least a little bit

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<v Speaker 1>against him, and he said that after care for deliberation,

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<v Speaker 1>they have determined that to have a fully functional team

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<v Speaker 1>it is to let Jean Pierre go. So the market

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<v Speaker 1>reacted quite badly to this, because of course that raises

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<v Speaker 1>questions about the stability of that of that company and

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<v Speaker 1>the strategic direction. After letting the CEO go just after

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<v Speaker 1>a year of being being in place, Brilla had overseen

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<v Speaker 1>quite a drastic reduction in midterm targets that better aligned

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<v Speaker 1>with estimates. But the performance has been quite uneven photemenos

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<v Speaker 1>and the company still has some work to do even

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<v Speaker 1>more now to kind of get back into investors good graces.

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<v Speaker 3>And also in focus is the Danish wind developer or Sted.

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<v Speaker 3>What did their latest profit.

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<v Speaker 2>Outlook tell us?

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<v Speaker 1>Yeah, so it's definitely a tough year, tough few last

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<v Speaker 1>few weeks at least, we all said, with a lot

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<v Speaker 1>of different setbacks. The latest, as you say, is that

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<v Speaker 1>they cut their profit forecast range this morning, and that

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<v Speaker 1>comes right before a very important vote that is taking

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<v Speaker 1>place today, so shareholders will be voting on the rights

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<v Speaker 1>offering that Alsaid announced back in August in which it

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<v Speaker 1>said was now necessary to bolster its finances. The reason

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<v Speaker 1>why it needs to do that is because Trump has

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<v Speaker 1>a big vendetta against offshore wind. It says that it

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<v Speaker 1>kills birds, that it causes cancer, and he's really trying

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<v Speaker 1>to hold all of those different projects. And he recently

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<v Speaker 1>ordered all Said to stop working on a big six

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<v Speaker 1>point three billion dollar project of the coast of Rhode

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<v Speaker 1>Island in the US, and that was a project that

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<v Speaker 1>was really close to completion. And all Said is also

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<v Speaker 1>suing the Trump administration to try and revive the construction

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<v Speaker 1>of that wind farm. So there's a lot going on.

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<v Speaker 1>But obviously now all eyes are kind of turned on

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<v Speaker 1>that vote on that capital raise.

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<v Speaker 3>Yeah, he also doesn't like the look of them. He

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<v Speaker 3>complained about the look of them, you know, close to

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<v Speaker 3>his golf clubs for example in here in the UK.

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<v Speaker 1>A real vendetta.

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<v Speaker 3>In terms of another story, then Hexagon's design business and acquisition.

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<v Speaker 3>How's the market reacting to that? Yeah, quite well.

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<v Speaker 1>So Hexagon is a Swedish industrial business, and there's a

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<v Speaker 1>US based company called Cadence Design Systems, which is a

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<v Speaker 1>company that makes essentially software and hardware to help companies

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<v Speaker 1>design electronic products, which is quite niche but quite an

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<v Speaker 1>important industry, and it has agreed to acquire Hexcon's design

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<v Speaker 1>and engineering unit for two point seven billion euros. Cadence

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<v Speaker 1>is trying to kind of get in on the explosion

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<v Speaker 1>in spending on artificial intelligence computing, and obviously that is

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<v Speaker 1>because there's an increasing cost of building really complex products

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<v Speaker 1>like aircraft or vehicles, and so there's a push to

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<v Speaker 1>test those new designs in simulations on computers that can

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<v Speaker 1>kind of model the impact of real world phenomena like

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<v Speaker 1>heat we'll have, for example, on performance. And so what

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<v Speaker 1>this acquisition will enable Cadence to do is to do

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<v Speaker 1>that better, do those simulations better. Cadence also said that

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<v Speaker 1>the acquisition will allow it to add customers in new markets,

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<v Speaker 1>including Volkswagen, Toyota, and Bae Systems, and so that acquisition

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<v Speaker 1>for hex Con was received also quite positively for the market.

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