WEBVTT - EasyJet Gains, Carrefour Climbs, Babcock Drops  

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data.

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<v Speaker 2>Now, let's have a look at some of the stocks

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<v Speaker 2>on the move today here in Europe. I'm Caroline Hepget

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<v Speaker 2>alongside Stephen Cowell, and we're joined by our reporter Tiva

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<v Speaker 2>adebayer Tea. Good morning. Let's start with EasyJet. Safe to

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<v Speaker 2>say that there's been some turbulence for them today.

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<v Speaker 3>Well, it seems they're on the ascent this morning. Carolina

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<v Speaker 3>shares are up as much as five point four percent.

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<v Speaker 3>That is the highest level in almost a year, and

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<v Speaker 3>it comes after they've rejected a third takeover proposal from

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<v Speaker 3>US investment firm Castle Lake. Now, avid listeners will probably

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<v Speaker 3>know a bit about this saga. Castlelake have been pursuing

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<v Speaker 3>EasyJet for a while now, but they will have to

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<v Speaker 3>take this latest proposal directly to shareholders.

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<v Speaker 4>They'refering about four point seventy four an.

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<v Speaker 3>Easy Jet has said they're rejecting the proposal because it's

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<v Speaker 3>not in the best interest of their showerholders. They're accusing

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<v Speaker 3>Castle Lake of trying to buy the company on the cheap. Conversely,

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<v Speaker 3>Castle Lake says that easy Jets board has shown unwillingness

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<v Speaker 3>to engage meanfully and that is prompting their laters move

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<v Speaker 3>to go directly to the shareholders. Castle Lake is also

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<v Speaker 3>saying that it will offer a partial equity alternative, so

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<v Speaker 3>that will allow current shareholders in easy Jets to remain invested.

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<v Speaker 4>So it's certainly.

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<v Speaker 3>One to watch going forward to see exactly how Easy

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<v Speaker 3>Jets shareholders respond to.

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<v Speaker 4>Now this third proposal from Castle Lake. Okay, so that's

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<v Speaker 4>on easy Jet. Let's go from airplanes to supermarkets next.

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<v Speaker 4>Under a frush rating for Car four.

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<v Speaker 3>Yes, there's a bit of a vote of confidence for

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<v Speaker 3>Car four this morning. That's Morgan Stanley. They're saying that

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<v Speaker 3>Car four's operating strategic plan is being undervalued. Now their

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<v Speaker 3>share price is up as much as two point nine

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<v Speaker 3>percent this morning, and Morgan Stanley has resumed coverage with

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<v Speaker 3>an overweight rating and a street high price target of

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<v Speaker 3>over twenty euros. That price target is about a twenty

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<v Speaker 3>nine percent increase.

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<v Speaker 4>From Friday's close, so quite a big deal here.

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<v Speaker 3>And across the A and R function on the terminal,

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<v Speaker 3>the stock now has six buys eight holds and three

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<v Speaker 3>cells amongst analysts tracked by Bloomberg, one analyst saying that

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<v Speaker 3>many of the firm's issues are being addressed, is showing

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<v Speaker 3>decisiveness in management, so positivity all round. Wait to see

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<v Speaker 3>if that rally four car four is sustained in the

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<v Speaker 3>coming days and weeks.

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<v Speaker 2>Okay, but lastly, Babcock reported earnings this morning, I mean,

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<v Speaker 2>one of the few really in Europe. How investors taking

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<v Speaker 2>the update?

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<v Speaker 3>Well, a bit of a miss for Babcock this morning.

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<v Speaker 3>They've reported adjusted pre tax profit for the four year

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<v Speaker 3>that missed the average analyst estimates, but they have also

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<v Speaker 3>announced a further two hundred million pound buy back, and

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<v Speaker 3>they say in their commentary they're expecting another year of

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<v Speaker 3>good progress supported by strong revenue. They've also reaffirmed their

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<v Speaker 3>medium term guidance of average mid single digit organic revenue growth,

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<v Speaker 3>so they're seeing the positives investors on. It's one of

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<v Speaker 3>the biggest newsers on the stock six hundred this morning,

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<v Speaker 3>but we'll wait to see if perhaps some of their

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<v Speaker 3>predictions come to fruition.

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<v Speaker 1>The stock movers report from Bloomberg Radio. Check back with

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