Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Well, let's take a look at some stocks on the
Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined
Speaker 3: by Bloomberg's Breaking News editor Louise Moon. Louise, good morning.
Speaker 3: Let's start with Schneider Electric, their shares rising this morning
Speaker 3: on the markets.
Speaker 1: Indeed, yeah, they've they've laid out a big buy back
Speaker 1: plans that's up to three point five billion euros through
Speaker 1: to twenty thirty, so a big sum to announce this morning.
Speaker 1: They also plan to sell assets equivalent to about one
Speaker 1: point five billion euros over that same period, and they
Speaker 1: also set quite ambitious growth plans. So this is all
Speaker 1: driven by AI and electrifications. They're really benefiting on the
Speaker 1: back of that. Essentially, what they do is they provide
Speaker 1: equipment that's needed to run a lot of these data centers.
Speaker 1: So yeah, benefiting on the back of this growing demand
Speaker 1: for those data centers for AI, for electrification. I mean,
Speaker 1: we already saw it. They had results recently, their latest
Speaker 1: results they exceeded expectations. So this is just kind of
Speaker 1: more positive news this morning on the back of that demand.
Speaker 1: So yeah, this buyback plan being laid out.
Speaker 3: Yeah, it shares up three point three percent in Paris
Speaker 3: at the moment. Let's go to Entain next, the gambling giant,
Speaker 3: the CFO stepping down after thirteen years indeed.
Speaker 1: Yeah, so his name is Rob Wood, so he as
Speaker 1: you say, with the CFO and also the Deputy CEO,
Speaker 1: So stepping down next year after thirteen years.
Speaker 3: He's going to be.
Speaker 1: Replaced by a man called Michael Snape who is currently
Speaker 1: CFO IDs, which is the parent of Royal Mail obviously
Speaker 1: recently taken private, so he oversaw that sale and the
Speaker 1: delisting of IDs. Before that, he was at companies including Tesco,
Speaker 1: so he's got quite a big track record of big
Speaker 1: companies in the UK. So he's going to replace Rob
Speaker 1: Wood next year. Shares are falling. They're actually the biggest
Speaker 1: drag on the foot see one hundred this morning potentially
Speaker 1: because Wood he's been seeing as pretty instrumental for a
Speaker 1: lot of change that NTAIN has had in recent years.
Speaker 1: So rapid expansion entry into the US market via a
Speaker 1: JV with MGM part he was also part of their
Speaker 1: rebrand in twenty twenty, so potentially that's you know, contributing
Speaker 1: to those shares falling this morning. It's also kind of
Speaker 1: the latest thing that Ntain's got to contend with. They
Speaker 1: had their former CEO left in February. They've also faced
Speaker 1: a string of issues, including legal and regulatory challenges more recently,
Speaker 1: and they're also very recently having to deal now with
Speaker 1: higher taxes that have come in the budget. So a
Speaker 1: lot to contend with and at the same time, a
Speaker 1: switch of leadership right at the top.
Speaker 3: Yeah, okay, well, want to keep an eye on Then
Speaker 3: turning to travel and whiz Air shares are lower this morning.
Speaker 1: Yeah, so they have been downgraded to an underperformed by
Speaker 1: Bank of America. So the analyst is citing two main things.
Speaker 1: So one is a concern over costs for was Air,
Speaker 1: and the second one is increased competition, particularly saying that
Speaker 1: the rival Ryanair is strong competition ins key region of
Speaker 1: Central and Eastern Europe. So those two key concerns from
Speaker 1: the Bank of America analyst. They also at the same
Speaker 1: time loaded their estimates for twenty twenty six and twenty
Speaker 1: twenty seven four whizz Air they reiterated at the same time,
Speaker 1: IAG is their top pick. So shares of WIZ falling
Speaker 1: on the back of this. And if you look at
Speaker 1: the analyst ratings they've got at the moment, they've got
Speaker 1: six buys, twelve holds and seven cells, So potentially a
Speaker 1: bit of tentative thinking from analysts there and a mixed picture.
Speaker 1: So yeah, downgraded from Bank of America, which is pulling
Speaker 1: down those shares.
Speaker 2: This morning in London, the Stock Movers Report Bloomberg Radio.
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