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