Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data,
Speaker 2: take a.
Speaker 3: Look at some of the stocks on the move today.
Speaker 3: We can do that with Bloomberg's alexis Alexa Semenova. It's confusing.
Speaker 3: I got a lot of names here, folks. Nobody's the same.
Speaker 3: What's going on in the world of stock movers here today? Alexa?
Speaker 1: So I am taking a look at one of the
Speaker 1: companies selling off today. That is ASML looks like it's
Speaker 1: down two point three percent right now. This is after
Speaker 1: US lawmakers unveiled legislation legislation aimed to tighten restrictions on
Speaker 1: chiptool exports to China. The goal here is to subject
Speaker 1: Dutch and Japanese firms to the same curbs that American
Speaker 1: companies already face, and also broaden the scope of technologies covered.
Speaker 1: Analysts are estimating that this draft legislation could affect as
Speaker 1: much as twenty percent of ASML sales based on their
Speaker 1: twenty twenty five numbers and just looking at the Wall
Speaker 1: Street reactions here, everyone is talking about how detrimental this
Speaker 1: would be to the company. City says that we view
Speaker 1: this prospect negatively with significant unintended consequences, and then JP
Speaker 1: Morgan is saying that the new rule would take away
Speaker 1: about twenty nine percent of earnings per share, which is
Speaker 1: pretty substantial number there, hence that market reaction.
Speaker 3: It's interesting because I'm looking at what the analysts have said.
Speaker 3: City still has a buy rating. JP Morgan still has
Speaker 3: an overweight on the stock.
Speaker 1: You have to imagine, Yeah, if the move holds, perhaps
Speaker 1: the cases draft legislation at this point, we'll see if
Speaker 1: it actually goes through, and then I would imagine that
Speaker 1: they adjust those ratings accordingly.
Speaker 3: Okay, what's going on with Universal Music Group?
Speaker 1: Yes, so billionaire investor Bill Ackman is proposing a bid
Speaker 1: for this company.
Speaker 3: This is the world's largest music company.
Speaker 1: It houses the likes of Taylor Swift, Drake and Sabrina Carpenter,
Speaker 1: some big performers there, and the goal is to increase
Speaker 1: returns on one of the hedge Fund's biggest holdings, Pershing
Speaker 1: Square Capital Management. That is Bill Lackman's firm. It currently
Speaker 1: controls more than four point five percent of UMG shares,
Speaker 1: so it is pushing to combine the record label with
Speaker 1: a US listed acquisition vehicle, and the targeted value would
Speaker 1: reflect a premium of seventy eight percent of the company's
Speaker 1: closing price on Thursday. Looking at the stock reaction right now,
Speaker 1: A listed shares up ten percent, so investors seem to
Speaker 1: be happy about this.
Speaker 3: He's going all in on this company in a big way.
Speaker 3: How about broadcom s?
Speaker 1: Yeah, so Broadcom climbing today after the chip maker announced
Speaker 1: a long term agreement with Google to develop to develop
Speaker 1: tensor processing units. This offers an alternative to technology from Nvidia.
Speaker 1: They have a supply assurance pact that runs to twenty
Speaker 1: thirty one. This is according to a filing on Monday.
Speaker 1: The Who's CEO, Hawk Tan had previously discussed this on
Speaker 1: an earnings call. This collaboration and he also said that
Speaker 1: Broadcom expects that its AI chip is going to top
Speaker 1: one hundred billion dollars in sales next year, and that
Speaker 1: would make it a bigger competitor of course, to Nvideo.
Speaker 2: The Stockmovers Report from Bloomberg Radio. Check back with us
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