1 00:00:02,520 --> 00:00:07,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg data, 4 00:00:16,520 --> 00:00:16,840 Speaker 2: take a. 5 00:00:16,760 --> 00:00:18,360 Speaker 3: Look at some of the stocks on the move today. 6 00:00:18,360 --> 00:00:23,480 Speaker 3: We can do that with Bloomberg's alexis Alexa Semenova. It's confusing. 7 00:00:23,520 --> 00:00:25,919 Speaker 3: I got a lot of names here, folks. Nobody's the same. 8 00:00:26,320 --> 00:00:29,160 Speaker 3: What's going on in the world of stock movers here today? Alexa? 9 00:00:29,440 --> 00:00:31,120 Speaker 1: So I am taking a look at one of the 10 00:00:31,120 --> 00:00:34,400 Speaker 1: companies selling off today. That is ASML looks like it's 11 00:00:34,440 --> 00:00:36,920 Speaker 1: down two point three percent right now. This is after 12 00:00:37,120 --> 00:00:42,239 Speaker 1: US lawmakers unveiled legislation legislation aimed to tighten restrictions on 13 00:00:42,360 --> 00:00:46,400 Speaker 1: chiptool exports to China. The goal here is to subject 14 00:00:46,800 --> 00:00:50,000 Speaker 1: Dutch and Japanese firms to the same curbs that American 15 00:00:50,040 --> 00:00:54,800 Speaker 1: companies already face, and also broaden the scope of technologies covered. 16 00:00:55,160 --> 00:00:58,760 Speaker 1: Analysts are estimating that this draft legislation could affect as 17 00:00:58,800 --> 00:01:02,440 Speaker 1: much as twenty percent of ASML sales based on their 18 00:01:02,480 --> 00:01:05,360 Speaker 1: twenty twenty five numbers and just looking at the Wall 19 00:01:05,400 --> 00:01:08,600 Speaker 1: Street reactions here, everyone is talking about how detrimental this 20 00:01:08,680 --> 00:01:11,280 Speaker 1: would be to the company. City says that we view 21 00:01:11,319 --> 00:01:16,880 Speaker 1: this prospect negatively with significant unintended consequences, and then JP 22 00:01:17,000 --> 00:01:19,759 Speaker 1: Morgan is saying that the new rule would take away 23 00:01:19,920 --> 00:01:22,679 Speaker 1: about twenty nine percent of earnings per share, which is 24 00:01:22,959 --> 00:01:25,720 Speaker 1: pretty substantial number there, hence that market reaction. 25 00:01:26,080 --> 00:01:29,000 Speaker 3: It's interesting because I'm looking at what the analysts have said. 26 00:01:29,040 --> 00:01:31,800 Speaker 3: City still has a buy rating. JP Morgan still has 27 00:01:31,800 --> 00:01:33,000 Speaker 3: an overweight on the stock. 28 00:01:33,040 --> 00:01:36,280 Speaker 1: You have to imagine, Yeah, if the move holds, perhaps 29 00:01:36,319 --> 00:01:39,080 Speaker 1: the cases draft legislation at this point, we'll see if 30 00:01:39,120 --> 00:01:41,160 Speaker 1: it actually goes through, and then I would imagine that 31 00:01:41,160 --> 00:01:42,800 Speaker 1: they adjust those ratings accordingly. 32 00:01:43,000 --> 00:01:45,360 Speaker 3: Okay, what's going on with Universal Music Group? 33 00:01:45,560 --> 00:01:49,000 Speaker 1: Yes, so billionaire investor Bill Ackman is proposing a bid 34 00:01:49,040 --> 00:01:49,920 Speaker 1: for this company. 35 00:01:49,960 --> 00:01:52,320 Speaker 3: This is the world's largest music company. 36 00:01:52,320 --> 00:01:56,920 Speaker 1: It houses the likes of Taylor Swift, Drake and Sabrina Carpenter, 37 00:01:57,040 --> 00:02:00,000 Speaker 1: some big performers there, and the goal is to increase 38 00:02:00,200 --> 00:02:05,000 Speaker 1: returns on one of the hedge Fund's biggest holdings, Pershing 39 00:02:05,160 --> 00:02:08,359 Speaker 1: Square Capital Management. That is Bill Lackman's firm. It currently 40 00:02:08,360 --> 00:02:11,880 Speaker 1: controls more than four point five percent of UMG shares, 41 00:02:12,120 --> 00:02:14,960 Speaker 1: so it is pushing to combine the record label with 42 00:02:15,520 --> 00:02:19,960 Speaker 1: a US listed acquisition vehicle, and the targeted value would 43 00:02:19,960 --> 00:02:23,239 Speaker 1: reflect a premium of seventy eight percent of the company's 44 00:02:23,280 --> 00:02:29,280 Speaker 1: closing price on Thursday. Looking at the stock reaction right now, 45 00:02:29,320 --> 00:02:33,760 Speaker 1: A listed shares up ten percent, so investors seem to 46 00:02:33,760 --> 00:02:34,520 Speaker 1: be happy about this. 47 00:02:34,880 --> 00:02:37,520 Speaker 3: He's going all in on this company in a big way. 48 00:02:37,520 --> 00:02:38,679 Speaker 3: How about broadcom s? 49 00:02:38,760 --> 00:02:42,400 Speaker 1: Yeah, so Broadcom climbing today after the chip maker announced 50 00:02:42,440 --> 00:02:47,000 Speaker 1: a long term agreement with Google to develop to develop 51 00:02:47,160 --> 00:02:52,160 Speaker 1: tensor processing units. This offers an alternative to technology from Nvidia. 52 00:02:52,200 --> 00:02:56,000 Speaker 1: They have a supply assurance pact that runs to twenty 53 00:02:56,240 --> 00:02:59,079 Speaker 1: thirty one. This is according to a filing on Monday. 54 00:02:59,600 --> 00:03:03,280 Speaker 1: The Who's CEO, Hawk Tan had previously discussed this on 55 00:03:03,320 --> 00:03:07,480 Speaker 1: an earnings call. This collaboration and he also said that 56 00:03:07,600 --> 00:03:11,840 Speaker 1: Broadcom expects that its AI chip is going to top 57 00:03:12,040 --> 00:03:14,840 Speaker 1: one hundred billion dollars in sales next year, and that 58 00:03:14,880 --> 00:03:17,440 Speaker 1: would make it a bigger competitor of course, to Nvideo. 59 00:03:18,720 --> 00:03:22,960 Speaker 2: The Stockmovers Report from Bloomberg Radio. Check back with us 60 00:03:23,000 --> 00:03:25,799 Speaker 2: throughout the day for the latest roundup of companies making 61 00:03:25,880 --> 00:03:29,480 Speaker 2: news on Wall Street and for the latest market moving headlines. 62 00:03:29,680 --> 00:03:33,720 Speaker 2: Listen to Bloomberg Radio Live. 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