WEBVTT - EasyJet Gains, Carrefour Climbs, Infineon Rises  

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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

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<v Speaker 2>in 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 reporter Chloe Male. Chloe, good morning. Let's start

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<v Speaker 3>with EasyJet. Some turbulence with their shares this morning.

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<v Speaker 1>Yeah, absolutely, easy Jet is very determined to not get

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<v Speaker 1>bored essentially, so it's rejected a three separate takeover offers

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<v Speaker 1>from the investment firm Castle Lake, and the latest bid

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<v Speaker 1>was for six hundred and twenty five pence per shares,

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<v Speaker 1>which is much higher than the current share price of

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<v Speaker 1>about five hundred and twenty three pence, and it values

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<v Speaker 1>the company at about four point seven billion pounds. So

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<v Speaker 1>that seems like perhaps quite a strong offer. But easy

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<v Speaker 1>to has actually accused Castle Lake of trying to buy

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<v Speaker 1>the company on the cheap and said that it is

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<v Speaker 1>confident in doing its own thing and its owner strategy.

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<v Speaker 1>So when Castle Lake actually first said said in late

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<v Speaker 1>May that it was interested in easy Jet, easier that

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<v Speaker 1>had said actually that this was opportunistic because the share

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<v Speaker 1>price was at the time really struggling because of course

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<v Speaker 1>those higher fuel costs and all those flight disruptions from

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<v Speaker 1>the war in the Middle East had really led those

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<v Speaker 1>shares down. But now they're a bit stronger because of

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<v Speaker 1>those takeover rumors partly, but it seems that easy Jet

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<v Speaker 1>is very much and not budging, and that is even

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<v Speaker 1>as Castle Lake kind of goes with higher and higher offers.

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<v Speaker 1>So we have shares rising this morning, but not massively,

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<v Speaker 1>so this might indicate perhaps a bit of skepticism by

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<v Speaker 1>the market, perhaps a bit of a wait and see

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<v Speaker 1>approach on this. Now Castle Lake is going to go

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<v Speaker 1>directly to shareholders about this because it said easy Jet

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<v Speaker 1>doesn't want to meaningfully engage. So there is a big

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<v Speaker 1>m and a story that is going to have probably

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<v Speaker 1>a lot more developments in the next few days, so

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<v Speaker 1>we'll be watching out for any further further updates there.

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<v Speaker 3>Yeah going to be a very interesting one in the

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<v Speaker 3>airline space. Let's start to supermarkets next. And a fresh

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<v Speaker 3>rating for car for.

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<v Speaker 1>Yeah, so a by rating and a new street high

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<v Speaker 1>price target from Morgan Stanley, with the nalyst saying that

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<v Speaker 1>the company strategic plan was actually undervalued, that a lot

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<v Speaker 1>of the issues that had that were that were really

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<v Speaker 1>affecting the company were now being addressed, and that the

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<v Speaker 1>speed of execution of that strategic plan was actually quite impressive.

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<v Speaker 1>And so this is a very positive reading on the company.

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<v Speaker 1>And this stands in quite sharp contrast with what we

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<v Speaker 1>heard from JP Morgan about the company just a few

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<v Speaker 1>days ago. So the analyser JP Morgan placed a car

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<v Speaker 1>for on a negative catalyst watch last week, saying that

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<v Speaker 1>the first half results that you in July are likely

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<v Speaker 1>to disappoint. So we have two very different takes on

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<v Speaker 1>that stock, and we'll be interesting to see how CARF

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<v Speaker 1>will actually performs at those results in July, I think

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<v Speaker 1>July twenty third, and who of JP Morgan or Morgan

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<v Speaker 1>Stanley will end up being vindicated on their readings on

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<v Speaker 1>the company.

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<v Speaker 3>Our favorite thing, who's right of analysts when it comes

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<v Speaker 3>to stocks as well. Let's go to the tech sector next, Chloe,

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<v Speaker 3>as it moves for Infinian.

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<v Speaker 1>Yeah, Infinian having a pretty good day to day. We

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<v Speaker 1>have a Bernstein analysts raising a price target for Infinian,

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<v Speaker 1>and then there was also over the weekend an interview

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<v Speaker 1>with a German newspaper in which the CFO from Infinian

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<v Speaker 1>said that the AI data center boom was here to stay.

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<v Speaker 1>So it's been a good year so far for Infinian.

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<v Speaker 1>We're up about one hundred and twenty seven percent year

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<v Speaker 1>to date. It's a big, big move. It has you know,

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<v Speaker 1>twenty four buys on the stock and just the two cells,

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<v Speaker 1>so it's seen as really a bit of an analyst

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<v Speaker 1>darling and it's been of course benefiting from the AI boom.

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<v Speaker 1>It has helped to offset the softer demand from the

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<v Speaker 1>auto sector from those car making customers. So we had seen,

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<v Speaker 1>for example, a tiny bit of weakness in the stock

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<v Speaker 1>after BMW want on profit last week, because of course

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<v Speaker 1>that car making sector is still very important for those

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<v Speaker 1>ship makers like Stmicro and Infinian. But the recent updates

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<v Speaker 1>that we've heard from the company about specifically the AI

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<v Speaker 1>part of the business have been very positive and it

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<v Speaker 1>seems to indicate that that demand is very strong, that

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<v Speaker 1>targets can easily be exceeded in at least that part

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<v Speaker 1>of the business, and so all of that is contributing

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<v Speaker 1>to some positive moves for the company and it's definitie

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<v Speaker 1>in the green today.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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