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 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 reporter Chloe Male. Chloe, good morning. Let's start
Speaker 3: with EasyJet. Some turbulence with their shares this morning.
Speaker 1: Yeah, absolutely, easy Jet is very determined to not get
Speaker 1: bored essentially, so it's rejected a three separate takeover offers
Speaker 1: from the investment firm Castle Lake, and the latest bid
Speaker 1: was for six hundred and twenty five pence per shares,
Speaker 1: which is much higher than the current share price of
Speaker 1: about five hundred and twenty three pence, and it values
Speaker 1: the company at about four point seven billion pounds. So
Speaker 1: that seems like perhaps quite a strong offer. But easy
Speaker 1: to has actually accused Castle Lake of trying to buy
Speaker 1: the company on the cheap and said that it is
Speaker 1: confident in doing its own thing and its owner strategy.
Speaker 1: So when Castle Lake actually first said said in late
Speaker 1: May that it was interested in easy Jet, easier that
Speaker 1: had said actually that this was opportunistic because the share
Speaker 1: price was at the time really struggling because of course
Speaker 1: those higher fuel costs and all those flight disruptions from
Speaker 1: the war in the Middle East had really led those
Speaker 1: shares down. But now they're a bit stronger because of
Speaker 1: those takeover rumors partly, but it seems that easy Jet
Speaker 1: is very much and not budging, and that is even
Speaker 1: as Castle Lake kind of goes with higher and higher offers.
Speaker 1: So we have shares rising this morning, but not massively,
Speaker 1: so this might indicate perhaps a bit of skepticism by
Speaker 1: the market, perhaps a bit of a wait and see
Speaker 1: approach on this. Now Castle Lake is going to go
Speaker 1: directly to shareholders about this because it said easy Jet
Speaker 1: doesn't want to meaningfully engage. So there is a big
Speaker 1: m and a story that is going to have probably
Speaker 1: a lot more developments in the next few days, so
Speaker 1: we'll be watching out for any further further updates there.
Speaker 3: Yeah going to be a very interesting one in the
Speaker 3: airline space. Let's start to supermarkets next. And a fresh
Speaker 3: rating for car for.
Speaker 1: Yeah, so a by rating and a new street high
Speaker 1: price target from Morgan Stanley, with the nalyst saying that
Speaker 1: the company strategic plan was actually undervalued, that a lot
Speaker 1: of the issues that had that were that were really
Speaker 1: affecting the company were now being addressed, and that the
Speaker 1: speed of execution of that strategic plan was actually quite impressive.
Speaker 1: And so this is a very positive reading on the company.
Speaker 1: And this stands in quite sharp contrast with what we
Speaker 1: heard from JP Morgan about the company just a few
Speaker 1: days ago. So the analyser JP Morgan placed a car
Speaker 1: for on a negative catalyst watch last week, saying that
Speaker 1: the first half results that you in July are likely
Speaker 1: to disappoint. So we have two very different takes on
Speaker 1: that stock, and we'll be interesting to see how CARF
Speaker 1: will actually performs at those results in July, I think
Speaker 1: July twenty third, and who of JP Morgan or Morgan
Speaker 1: Stanley will end up being vindicated on their readings on
Speaker 1: the company.
Speaker 3: Our favorite thing, who's right of analysts when it comes
Speaker 3: to stocks as well. Let's go to the tech sector next, Chloe,
Speaker 3: as it moves for Infinian.
Speaker 1: Yeah, Infinian having a pretty good day to day. We
Speaker 1: have a Bernstein analysts raising a price target for Infinian,
Speaker 1: and then there was also over the weekend an interview
Speaker 1: with a German newspaper in which the CFO from Infinian
Speaker 1: said that the AI data center boom was here to stay.
Speaker 1: So it's been a good year so far for Infinian.
Speaker 1: We're up about one hundred and twenty seven percent year
Speaker 1: to date. It's a big, big move. It has you know,
Speaker 1: twenty four buys on the stock and just the two cells,
Speaker 1: so it's seen as really a bit of an analyst
Speaker 1: darling and it's been of course benefiting from the AI boom.
Speaker 1: It has helped to offset the softer demand from the
Speaker 1: auto sector from those car making customers. So we had seen,
Speaker 1: for example, a tiny bit of weakness in the stock
Speaker 1: after BMW want on profit last week, because of course
Speaker 1: that car making sector is still very important for those
Speaker 1: ship makers like Stmicro and Infinian. But the recent updates
Speaker 1: that we've heard from the company about specifically the AI
Speaker 1: part of the business have been very positive and it
Speaker 1: seems to indicate that that demand is very strong, that
Speaker 1: targets can easily be exceeded in at least that part
Speaker 1: of the business, and so all of that is contributing
Speaker 1: to some positive moves for the company and it's definitie
Speaker 1: in the green today.
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