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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some of the stocks on the move today. Then in Europe, I'm Tia Adabayo with Stephen Carroll and we're joined by Bloomberg's Breaking News editor Louise Moon. So, Louise, we're going to start in Finland and there's some m and a news from the lift and escalator company Kone.
Indeed, yes, so they're buying a company called TK Elevator for twenty nine point four billion euros. That's including debt, so twenty nine point four billion euros, and that's from two private exc firms, Advent and Sinvin. So this is one of Europe's biggest ever private XC exits from coone. So Cone has been interested for years in buying TK Elevator. They tried to buy in twenty twenty in collaboration with CVC,
and they lost out to Advent and Sinvin. When they bought it, then it will be a big deal for the company. So the combined group will be nearly double Cone's existing size. More than one hundred thousand staff in around one hundred countries, headquartered in Finland. And crucially what it does is it gives them exposure to the US.
They currently have about a quarter of their revenue from the US and about forty percent in Europe, so it will boost that exposure to America which is expected sorry that as well as you know, the whole business is expected to generate annual sales of over twenty billions, so it's a really big deal for them. Gives them a lot more exposure, a lot more staff, and just really grows the company and shares rising as a result of that. So quite a bit higher in early trading.
So that's on kline in Finland.
Let's come back to the UK now, Lass is reported at the Luxury Carmaker, asked Martin.
Yeah, so it's quite an interesting one in terms of the sher reaction. This morning, shares have actually climbed at one point up over about six percent. So this after their first qusse of results numbers. Some of the numbers came in ahead of expectations and Aston Martin stuck to guidance, So it seems that's what analysts are focusing on. You know, there's been more sales of top end cars to the average selling price increased and there were some comments saying,
you know, it's good enough. It's going in the right direction for Aston Martin. This is despite, as you say, losses elsewhere, so there was a pretax loss. Revenue also fell short overall deliveries missing expectations, and they've still got really high levels of debt, so their debt levels over one billion one point four to six billion pounds. This is all in the background of Aston Martin. It's been struggling for a long time and struggling to turn itself around,
stuck in first gear, if you will. The billionaire Lawrence Schuld took control on twenty twenty. He's been trying to rescue it. But essentially it's faced a lot of headwinds. They've had products delays, tariffs slow down in China, quality problems,
a whole host of issues. They've been pulling back on spending to try and control this, cutting jobs, putting some models on review, but none of this has really been working, and so what they've been doing so far is propping themselves up by a series of capital raises, and they actually announced another one this morning of about fifteen million
pounds to try and ease that pressure. So they've still got a long way to go with this turnaround, but essentially shares are rising on the indication that things are going in the right direction because some of those numbers came in better than expected.
Okay, so it seems like Aston Martin could be stalling, yes again, But moving on to UBS. It's a big story we've been talking about this morning. It's among the big banking names that are reporting getting a positive reception from investors.
Yes, it is, actually yeah. So they've had their first course results. Profits driving ahead essentially, so traders driving those profits. So net income beat estimates. Investment banking revenue is up almost thirty percent. They've been capitalizing on that volatility as you say that we've been seeing across banking earnings on the back of the situation in the Middle East and
the market reaction. XTUS and effects also boosted. And they say that client activity for the moment remains healthy, so that's kind of reflecting an expectation that there might be a solution in the release or will be reached, so client activity healthy for the moments. They also say that on track to meet a three billion dollar buy back target that's for the third quarter, and then they aiming to increase those payouts by the year end. So shares
Hire jumped almost six percent this morning. Did pair gain slightly, but the still are higher. And that is also kind of despite or in the face of a bit of a lack of clarity over regulation. So a debate going on in Switzerland over capital requirements and the bank's lobbying hard against it. But yeah, traders driving profits and shares driving higher.
The Stock Movers 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 Apple car Play and Android Auto with the Bloomberg Business app.