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Let's take a look at some of the stocks on the move today here in Europe. I'm Caroline Hepget alongside Jamana Pasecci and we're joined by Bloomberg Report to claim Malay, good morning. Let's start by looking at all Steed. So they got a favorable judgment over in the United States over one of its wind farms.
Big result then in the stock market.
Yeah, absolutely, I think also my actually win for the amount of times it has been a stock to watch over the last couple of months, but this time, as you say, it is positive news.
So a judge in.
Washington ruled that Austed canw restart work on the Revolution Wind project, which is off the coase of Rhode Island in the US. And that is a major win because the Trump administration had ordered Orsted to stop construction on that project in late August, and that is despite the fact.
That the wind farm was about eighty percent finish.
So the project is intended to power hundreds of thousands of homes in Rhode Island, but also Connecticut, and the judge said that the project could suffer irreparable harm unless construction was allowed to continue for now. So a Less said that this will really boost confidence in Austed' US portfolio, which has come under attack from Trump quite a lot recently, and also boost confidence in the capital rays that AUSTED
recently did to shore up its finances. A White House spokesperson did say that the ruling will not be the final say on the matter, and of course it still could face appeal, but for now, this is some relief for AUSTED and that has really boosted the shots this morning.
And Heineken says it's buying Florida ice and farm companies, beverage and retail businesses. This feels like a bit of a jump, a bit of a leap for a company that's synonymous with beer. Do we have detail about the deal and what the price action was afterwards?
Yeah, absolutely So.
Heinegan is buying, as you say, Florida ice and farms companies at Central American business and that is for three point two billion dollars. The idea is that this will really strengthen its position in places like Costa Rica, Guatemala, Honduras, and those are markets that the company said had really.
A strong growth potential.
So the Central American market is forecast to grow about over seven percent annually by twenty thirty, and that is because there's.
Quite a young urban population there. In contrast to.
The European market has been much weaker, so that explains Heineken maybe wanting to move away from.
That weaker market.
And some analysts said that the region, the Latin American region, could actually beat Europe as the largest net contributor to revenue, so that deal actually makes quite a lot of sense for Heinekan from the perspective of those analysts. Some did also say that the price was maybe a little bit too high, but given the positive share price reaction, I think it doesn't seem to be bothering investors that much.
Okay, that's interesting.
Yeah, lots of different beer brands in the fifth Co really fIF Co beverage and retail business. Can't say I'm much of a beer drinker, so either or knowledgeable insight into that particular business in terms of ASM ASM International cutting its outlook for the second half of the year in terms of revenue, I suppose the question is why.
Yeah, so that is quite bad news for that semiconductor equipment industry. So he had cut a revenue outlook, and it said that was because of lower than expected demand from chip making clients. The cut was seen as a bit of a surprise, and some analysts said that the downgrade to that guidance is really unlikely to make investors feel better about the consensus estimates for twenty twenty six, which are already some are perceiving to be a little
bit too high to begin with. To understand why it's selling fewer chip making machines, we kind of need to look at it at its customers. So Intel, for example, is actually a key customer for SA and all. The Intel has attracted quite a lot of investors recently. The company is a lot more conservative with spending than other companies in that sector, and it said earlier this year
that it would actually cancel some factory projects. Obviously, that is having a knock on effect on ASM International and it really casts out on the health of that wider sector. Also dragged down the shares of some other big names in that industry, including ASML and BS and we were also in the rent this morning.
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 Applecarplay and Android Auto with the Bloomberg Business app.