Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News, the Stock Movers podcast.
Speaker 1: This is your roundup of companies making news on Wall
Speaker 1: Street and beyond, harnessing the power of Bloomberg Data.
Speaker 2: Let's take a look now at some stocks on the
Speaker 2: move today. We are joined now by Demita Zakova, Bloomberg
Speaker 2: Cross Asset Reporter. It needs It's hard to talk about
Speaker 2: these docks without talking about Nike. Let's start with Nike.
Speaker 2: I feel so we've talked a lot about them in
Speaker 2: the last few months, and most of it has been
Speaker 2: positive stuff. This time we're actually seeing their big comeback
Speaker 2: being threatened. We're seeing a lot of issues in terms
Speaker 2: of clearing out all the inventory, growing, trade war, and
Speaker 2: of course we've constantly talked about weakening consumer So all
Speaker 2: of these forces have pushed Nike down nine percent and
Speaker 2: if you look at the today loss, we're looking at
Speaker 2: thirteen percent, so it's a pretty rough start of the year.
Speaker 2: Of course, this comes after a big turnaround effort. We
Speaker 2: saw their new chief executive officer, Elliott Hill, coming out
Speaker 2: of retirement to work on this. You know, he's a
Speaker 2: long time Nike employee that has a great reputation, and
Speaker 2: there have been so many new initiatives. We were talking
Speaker 2: about the Schemes partnership, we're talking about the Super Bowl
Speaker 2: commercial and all all of those things. Indeed like broad
Speaker 2: optimism and help, but it seems like when it comes
Speaker 2: to earnings, investors are still not impressed by the company's
Speaker 2: turnaround and are waiting to see actual number. So of
Speaker 2: course we can in consumer and fall out from the
Speaker 2: escalating trade war are really complicating this.
Speaker 1: All right.
Speaker 2: FedEx also awful. Yes, again, going back to the week,
Speaker 2: we can in consumer trade war a few as though.
Speaker 2: That's something that comes up on all earnings coll earnings reports,
Speaker 2: and FedEx is the lastest company to sound alarm on
Speaker 2: that escalating trade war. Shares them both more than eleven percent.
Speaker 2: The company lord its full year guidance for third consecutive quarter.
Speaker 2: They're citing inflation and certain demand for shipments, and if
Speaker 2: you look at the chart here today loss is more
Speaker 2: than twenty percent, So again another company that is having
Speaker 2: a very rough start of the years. The earnings are
Speaker 2: projected in the range of eighteen doors to eighteen sixty,
Speaker 2: below the average of eighteen ninety five. That's what a
Speaker 2: only is estimated. The company has obviously a big exposure
Speaker 2: to a lot of things in the global economy, so
Speaker 2: you can imagine a trade war is particularly difficult to
Speaker 2: navigate for a company like this. And they even said
Speaker 2: that their outlook assumes the global economic, political and trade
Speaker 2: environment doesn't worsen any further, and we obviously don't have
Speaker 2: a lot of guarantee on that, so not too much
Speaker 2: optimism on the stock at the moment. What about Luminar, Yes,
Speaker 2: I wanted to bring some good news in the end.
Speaker 2: The company is seeing a big spick today, more than
Speaker 2: twenty percent. The maker of sensor of autonomous vehicles, obviously
Speaker 2: a very niche thing that's trending and doing very well.
Speaker 2: It's posted four quarter earnings that top testiment and company
Speaker 2: is up forty four percent here today. Really good start
Speaker 2: of the year considering how hotile markets have been. They
Speaker 2: included guidance for revenue growth that's as much as twenty percent.
Speaker 2: We saw that the company is still feeling the pressure
Speaker 2: because it has exports from Mexicos, which obviously are impacted
Speaker 2: by the trade war, but we're seeing optimism among analysts.
Speaker 2: Deutsche Bank upgraded their target and are implying eleven percent
Speaker 2: increase from here. The company actually develops that technology that
Speaker 2: helps self driving cars and especially when they're turning and parking,
Speaker 2: and it helps the autonomy to really provide that reliable
Speaker 2: of situational awareness. So it's a very important thing. They
Speaker 2: work with Mercedes, Volvo and all those big brands, so
Speaker 2: they're doing well.
Speaker 1: The Stockmovers podcast from Bloomberg Radio. Check back with us
Speaker 1: throughout the day for the latest roundup of companies making
Speaker 1: news on Wall Street and for the latest market moving headlines.
Speaker 1: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg
Speaker 1: dot com, and on Applecarplay and Android Auto with the
Speaker 1: Bloomberg Business app.