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