WEBVTT - Evoke's Deal, ASML Slips, Raspberry Pi Soars

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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 take a look at thumb stocks on the mood

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<v Speaker 3>today in Europe. I'm James Wulcock with Karen Hetcker and

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<v Speaker 3>we are joined by Bloomberg reporter Clomelly Chloe.

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<v Speaker 1>Has Evoke hit the jackpot today? It has.

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<v Speaker 4>I knew that you would have a great fun So

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<v Speaker 4>after quite a long time struggling, Evoke has.

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<v Speaker 1>Finally agreed on a takeover.

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<v Speaker 4>So it's agreed to be bought by Bali's Introlot, which

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<v Speaker 4>is a joint venture that is majority owned by the

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<v Speaker 4>US casino operator Bullies. And so this is a deal

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<v Speaker 4>that values Evoke at two and forty three million pounds

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<v Speaker 4>and it marks the end of a very long period

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<v Speaker 4>of troubles for Evoke. So it has been dealing with

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<v Speaker 4>a very heavy debt burden since the acquisition of the

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<v Speaker 4>betting website William Hill, and as of April it's also

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<v Speaker 4>now facing much higher gambling taxes in the UK. And

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<v Speaker 4>so gambling was one of the big sectors that was

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<v Speaker 4>targeted by Rachel Reeves in her budget in November, because

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<v Speaker 4>it's a.

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<v Speaker 1>Fairly easy target.

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<v Speaker 4>You know, people do tend to agree that it can

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<v Speaker 4>be a helpful industry and so could do with more taxes. Interestingly,

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<v Speaker 4>Bingo has actually had taxes lowered because it's considered safer,

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<v Speaker 4>just a little bit a little.

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<v Speaker 1>Infout, little market.

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<v Speaker 4>But of course forever that mentioned much higher costs, and

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<v Speaker 4>so it had those taxes increasing in April, and then

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<v Speaker 4>it would have had taxes increasing even further next April.

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<v Speaker 4>And so it had said that it was closing a

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<v Speaker 4>lot of betting shops across the UK because it was

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<v Speaker 4>really struggling because of those tax hikes.

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<v Speaker 1>So it has been looking to sell since.

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<v Speaker 4>Late last year, and so now it's finally happened and

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<v Speaker 4>we're seeing shares really sedge on the back of that.

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<v Speaker 5>Yeah, it was really interesting. We spoke on Bloomberg Radio

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<v Speaker 5>to Ripes and Reeves, the CEO of Bali's inch Loot,

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<v Speaker 5>talking about this deal and actually his kind of high

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<v Speaker 5>hopes for this, I mean the cost of this business

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<v Speaker 5>and the valuation of the business that they bought much

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<v Speaker 5>less than it was at only a year ago. He

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<v Speaker 5>was also defending the whole kind of business structure around

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<v Speaker 5>gambling and gaming that you know some in the UK

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<v Speaker 5>government have been highly critical of, right, So that's one

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<v Speaker 5>massive m and a deal that's very interesting ASML meanwhile

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<v Speaker 5>interesting obviously given the air I say we're seeing globally.

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<v Speaker 1>Yeah, absolutely.

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<v Speaker 4>So we're seeing essentially a continuation today of the weakness

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<v Speaker 4>that we had yesterday in all of this AI related stock.

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<v Speaker 4>So what triggered that yesterday was of course the very

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<v Speaker 4>disappointing outlook from Broadcom in the US, which led all

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<v Speaker 4>of these chip makers, chip equipment manufacturers lower in Asia

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<v Speaker 4>and in Europe and in the US.

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<v Speaker 1>And then it's the same today.

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<v Speaker 4>Really we've seen ASML, Infini and B Semiconductor, all of

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<v Speaker 4>those names in the red. So we're seeing the enthusiasm

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<v Speaker 4>around the AI trade waning a little bit, and it's

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<v Speaker 4>really a global story. The cospians Korea, which is considered

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<v Speaker 4>a really a bell weather for this AI story, fell

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<v Speaker 4>about five percent. We're seeing futures on the NEST that

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<v Speaker 4>one hundred dropping one percent, and so that indicates a

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<v Speaker 4>third day of losses for that index, and so we're

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<v Speaker 4>seeing investors really rotating out of those hardware stocks.

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<v Speaker 1>Maybe more into software to an extent.

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<v Speaker 4>The good news for Europe is that it's a region

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<v Speaker 4>that is a lot less exposed to tech as a whole,

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<v Speaker 4>but the few tech stocks that.

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<v Speaker 1>It does have are struggling quite a bit on the

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<v Speaker 1>back of that.

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<v Speaker 3>So we've been talking about London Tech Week starting next

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<v Speaker 3>week a lot. Today on the show Interesting, you picked

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<v Speaker 3>out raspberry Pie, this big British success story in sort

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<v Speaker 3>of computing. It's hitting all time high today.

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<v Speaker 4>Why Yeah, great day for raspberry Pie and continuing on

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<v Speaker 4>really a good trajectory of a really good year for

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<v Speaker 4>that company. So it's a company that makes small, low

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<v Speaker 4>cost computers and it's doing really really well. So I

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<v Speaker 4>actually went on Redder because that's where a lot of

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<v Speaker 4>tech enthusiasts are to just kind of see what they're

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<v Speaker 4>saying about those computers.

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<v Speaker 3>And ready, that's been your day to day.

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<v Speaker 1>Yeah, that's what I've been doing this morning.

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<v Speaker 4>So they're really rare about them and saying that you know,

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<v Speaker 4>they're cheap, they're versatile. So this is a product that

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<v Speaker 4>is seeing a lot of demand. And so Raspberry Pie

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<v Speaker 4>said that Nix this year would be well ahead of expectations,

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<v Speaker 4>and so shares rose very strongly and as you said, James,

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<v Speaker 4>hitting an all time high. The one big challenge that

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<v Speaker 4>the company is facing is a supply crunch for memory chips,

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<v Speaker 4>which is obviously a big question mark for that whole sector,

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<v Speaker 4>but it seems that raspberry Pie is actually navigating that

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<v Speaker 4>quite well, with one analyst saying that the company was

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<v Speaker 4>delivering a masterclass in navigating supply issues, so really doing

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<v Speaker 4>very very well.

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<v Speaker 1>Raspberry Pie.

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