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 3: Let's have a look at the stocks on the move
Speaker 3: today here in eure If. I'm Caroline Hepker alongside Jamana Bassecci.
Speaker 3: We're joined by Bloomberg a reporter Chloone Malay. Good morning.
Speaker 3: So a nose dive for Temenos, the Swiss banking tech
Speaker 3: specialist in early trading in Europe.
Speaker 1: Yeah, absolutely so. Teminos replaced it CEO effective immediately last night.
Speaker 1: So the CEO, Jean Pierre boul had been in place
Speaker 1: for just a little over a year. He joined in
Speaker 1: May twenty four, and he'll be replaced by the current
Speaker 1: CFO on an interim basis. So this came as a
Speaker 1: bit of a surprise, and the chairman said on a
Speaker 1: conference call, we are not aggressively against Jean Pierre, which
Speaker 1: sounds like they are maybe at least a little bit
Speaker 1: against him, and he said that after care for deliberation,
Speaker 1: they have determined that to have a fully functional team
Speaker 1: it is to let Jean Pierre go. So the market
Speaker 1: reacted quite badly to this, because of course that raises
Speaker 1: questions about the stability of that of that company and
Speaker 1: the strategic direction. After letting the CEO go just after
Speaker 1: a year of being being in place, Brilla had overseen
Speaker 1: quite a drastic reduction in midterm targets that better aligned
Speaker 1: with estimates. But the performance has been quite uneven photemenos
Speaker 1: and the company still has some work to do even
Speaker 1: more now to kind of get back into investors good graces.
Speaker 3: And also in focus is the Danish wind developer or Sted.
Speaker 3: What did their latest profit.
Speaker 2: Outlook tell us?
Speaker 1: Yeah, so it's definitely a tough year, tough few last
Speaker 1: few weeks at least, we all said, with a lot
Speaker 1: of different setbacks. The latest, as you say, is that
Speaker 1: they cut their profit forecast range this morning, and that
Speaker 1: comes right before a very important vote that is taking
Speaker 1: place today, so shareholders will be voting on the rights
Speaker 1: offering that Alsaid announced back in August in which it
Speaker 1: said was now necessary to bolster its finances. The reason
Speaker 1: why it needs to do that is because Trump has
Speaker 1: a big vendetta against offshore wind. It says that it
Speaker 1: kills birds, that it causes cancer, and he's really trying
Speaker 1: to hold all of those different projects. And he recently
Speaker 1: ordered all Said to stop working on a big six
Speaker 1: point three billion dollar project of the coast of Rhode
Speaker 1: Island in the US, and that was a project that
Speaker 1: was really close to completion. And all Said is also
Speaker 1: suing the Trump administration to try and revive the construction
Speaker 1: of that wind farm. So there's a lot going on.
Speaker 1: But obviously now all eyes are kind of turned on
Speaker 1: that vote on that capital raise.
Speaker 3: Yeah, he also doesn't like the look of them. He
Speaker 3: complained about the look of them, you know, close to
Speaker 3: his golf clubs for example in here in the UK.
Speaker 1: A real vendetta.
Speaker 3: In terms of another story, then Hexagon's design business and acquisition.
Speaker 3: How's the market reacting to that? Yeah, quite well.
Speaker 1: So Hexagon is a Swedish industrial business, and there's a
Speaker 1: US based company called Cadence Design Systems, which is a
Speaker 1: company that makes essentially software and hardware to help companies
Speaker 1: design electronic products, which is quite niche but quite an
Speaker 1: important industry, and it has agreed to acquire Hexcon's design
Speaker 1: and engineering unit for two point seven billion euros. Cadence
Speaker 1: is trying to kind of get in on the explosion
Speaker 1: in spending on artificial intelligence computing, and obviously that is
Speaker 1: because there's an increasing cost of building really complex products
Speaker 1: like aircraft or vehicles, and so there's a push to
Speaker 1: test those new designs in simulations on computers that can
Speaker 1: kind of model the impact of real world phenomena like
Speaker 1: heat we'll have, for example, on performance. And so what
Speaker 1: this acquisition will enable Cadence to do is to do
Speaker 1: that better, do those simulations better. Cadence also said that
Speaker 1: the acquisition will allow it to add customers in new markets,
Speaker 1: including Volkswagen, Toyota, and Bae Systems, and so that acquisition
Speaker 1: for hex Con was received also quite positively for the market.
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