WEBVTT - Schneider Electric Up, Entain Dips, Wizz Air Drops

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Well, let's take a look at some stocks on the

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<v Speaker 3>move today in Europe. I'm Stephen Carroll and I'm joined

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<v Speaker 3>by Bloomberg's Breaking News editor Louise Moon. Louise, good morning.

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<v Speaker 3>Let's start with Schneider Electric, their shares rising this morning

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<v Speaker 3>on the markets.

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<v Speaker 1>Indeed, yeah, they've they've laid out a big buy back

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<v Speaker 1>plans that's up to three point five billion euros through

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<v Speaker 1>to twenty thirty, so a big sum to announce this morning.

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<v Speaker 1>They also plan to sell assets equivalent to about one

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<v Speaker 1>point five billion euros over that same period, and they

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<v Speaker 1>also set quite ambitious growth plans. So this is all

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<v Speaker 1>driven by AI and electrifications. They're really benefiting on the

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<v Speaker 1>back of that. Essentially, what they do is they provide

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<v Speaker 1>equipment that's needed to run a lot of these data centers.

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<v Speaker 1>So yeah, benefiting on the back of this growing demand

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<v Speaker 1>for those data centers for AI, for electrification. I mean,

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<v Speaker 1>we already saw it. They had results recently, their latest

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<v Speaker 1>results they exceeded expectations. So this is just kind of

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<v Speaker 1>more positive news this morning on the back of that demand.

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<v Speaker 1>So yeah, this buyback plan being laid out.

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<v Speaker 3>Yeah, it shares up three point three percent in Paris

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<v Speaker 3>at the moment. Let's go to Entain next, the gambling giant,

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<v Speaker 3>the CFO stepping down after thirteen years indeed.

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<v Speaker 1>Yeah, so his name is Rob Wood, so he as

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<v Speaker 1>you say, with the CFO and also the Deputy CEO,

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<v Speaker 1>So stepping down next year after thirteen years.

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<v Speaker 3>He's going to be.

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<v Speaker 1>Replaced by a man called Michael Snape who is currently

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<v Speaker 1>CFO IDs, which is the parent of Royal Mail obviously

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<v Speaker 1>recently taken private, so he oversaw that sale and the

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<v Speaker 1>delisting of IDs. Before that, he was at companies including Tesco,

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<v Speaker 1>so he's got quite a big track record of big

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<v Speaker 1>companies in the UK. So he's going to replace Rob

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<v Speaker 1>Wood next year. Shares are falling. They're actually the biggest

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<v Speaker 1>drag on the foot see one hundred this morning potentially

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<v Speaker 1>because Wood he's been seeing as pretty instrumental for a

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<v Speaker 1>lot of change that NTAIN has had in recent years.

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<v Speaker 1>So rapid expansion entry into the US market via a

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<v Speaker 1>JV with MGM part he was also part of their

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<v Speaker 1>rebrand in twenty twenty, so potentially that's you know, contributing

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<v Speaker 1>to those shares falling this morning. It's also kind of

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<v Speaker 1>the latest thing that Ntain's got to contend with. They

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<v Speaker 1>had their former CEO left in February. They've also faced

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<v Speaker 1>a string of issues, including legal and regulatory challenges more recently,

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<v Speaker 1>and they're also very recently having to deal now with

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<v Speaker 1>higher taxes that have come in the budget. So a

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<v Speaker 1>lot to contend with and at the same time, a

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<v Speaker 1>switch of leadership right at the top.

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<v Speaker 3>Yeah, okay, well, want to keep an eye on Then

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<v Speaker 3>turning to travel and whiz Air shares are lower this morning.

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<v Speaker 1>Yeah, so they have been downgraded to an underperformed by

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<v Speaker 1>Bank of America. So the analyst is citing two main things.

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<v Speaker 1>So one is a concern over costs for was Air,

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<v Speaker 1>and the second one is increased competition, particularly saying that

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<v Speaker 1>the rival Ryanair is strong competition ins key region of

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<v Speaker 1>Central and Eastern Europe. So those two key concerns from

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<v Speaker 1>the Bank of America analyst. They also at the same

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<v Speaker 1>time loaded their estimates for twenty twenty six and twenty

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<v Speaker 1>twenty seven four whizz Air they reiterated at the same time,

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<v Speaker 1>IAG is their top pick. So shares of WIZ falling

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<v Speaker 1>on the back of this. And if you look at

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<v Speaker 1>the analyst ratings they've got at the moment, they've got

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<v Speaker 1>six buys, twelve holds and seven cells, So potentially a

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<v Speaker 1>bit of tentative thinking from analysts there and a mixed picture.

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<v Speaker 1>So yeah, downgraded from Bank of America, which is pulling

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<v Speaker 1>down those shares.

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<v Speaker 2>This morning in London, the Stock Movers Report Bloomberg Radio.

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