WEBVTT - Nike, FedEx, Luminar

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News, the Stock Movers podcast.

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<v Speaker 1>This is your roundup of companies making news on Wall

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<v Speaker 1>Street and beyond, harnessing the power of Bloomberg Data.

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<v Speaker 2>Let's take a look now at some stocks on the

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<v Speaker 2>move today. We are joined now by Demita Zakova, Bloomberg

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<v Speaker 2>Cross Asset Reporter. It needs It's hard to talk about

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<v Speaker 2>these docks without talking about Nike. Let's start with Nike.

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<v Speaker 2>I feel so we've talked a lot about them in

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<v Speaker 2>the last few months, and most of it has been

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<v Speaker 2>positive stuff. This time we're actually seeing their big comeback

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<v Speaker 2>being threatened. We're seeing a lot of issues in terms

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<v Speaker 2>of clearing out all the inventory, growing, trade war, and

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<v Speaker 2>of course we've constantly talked about weakening consumer So all

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<v Speaker 2>of these forces have pushed Nike down nine percent and

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<v Speaker 2>if you look at the today loss, we're looking at

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<v Speaker 2>thirteen percent, so it's a pretty rough start of the year.

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<v Speaker 2>Of course, this comes after a big turnaround effort. We

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<v Speaker 2>saw their new chief executive officer, Elliott Hill, coming out

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<v Speaker 2>of retirement to work on this. You know, he's a

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<v Speaker 2>long time Nike employee that has a great reputation, and

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<v Speaker 2>there have been so many new initiatives. We were talking

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<v Speaker 2>about the Schemes partnership, we're talking about the Super Bowl

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<v Speaker 2>commercial and all all of those things. Indeed like broad

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<v Speaker 2>optimism and help, but it seems like when it comes

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<v Speaker 2>to earnings, investors are still not impressed by the company's

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<v Speaker 2>turnaround and are waiting to see actual number. So of

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<v Speaker 2>course we can in consumer and fall out from the

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<v Speaker 2>escalating trade war are really complicating this.

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<v Speaker 1>All right.

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<v Speaker 2>FedEx also awful. Yes, again, going back to the week,

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<v Speaker 2>we can in consumer trade war a few as though.

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<v Speaker 2>That's something that comes up on all earnings coll earnings reports,

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<v Speaker 2>and FedEx is the lastest company to sound alarm on

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<v Speaker 2>that escalating trade war. Shares them both more than eleven percent.

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<v Speaker 2>The company lord its full year guidance for third consecutive quarter.

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<v Speaker 2>They're citing inflation and certain demand for shipments, and if

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<v Speaker 2>you look at the chart here today loss is more

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<v Speaker 2>than twenty percent, So again another company that is having

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<v Speaker 2>a very rough start of the years. The earnings are

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<v Speaker 2>projected in the range of eighteen doors to eighteen sixty,

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<v Speaker 2>below the average of eighteen ninety five. That's what a

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<v Speaker 2>only is estimated. The company has obviously a big exposure

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<v Speaker 2>to a lot of things in the global economy, so

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<v Speaker 2>you can imagine a trade war is particularly difficult to

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<v Speaker 2>navigate for a company like this. And they even said

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<v Speaker 2>that their outlook assumes the global economic, political and trade

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<v Speaker 2>environment doesn't worsen any further, and we obviously don't have

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<v Speaker 2>a lot of guarantee on that, so not too much

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<v Speaker 2>optimism on the stock at the moment. What about Luminar, Yes,

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<v Speaker 2>I wanted to bring some good news in the end.

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<v Speaker 2>The company is seeing a big spick today, more than

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<v Speaker 2>twenty percent. The maker of sensor of autonomous vehicles, obviously

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<v Speaker 2>a very niche thing that's trending and doing very well.

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<v Speaker 2>It's posted four quarter earnings that top testiment and company

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<v Speaker 2>is up forty four percent here today. Really good start

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<v Speaker 2>of the year considering how hotile markets have been. They

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<v Speaker 2>included guidance for revenue growth that's as much as twenty percent.

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<v Speaker 2>We saw that the company is still feeling the pressure

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<v Speaker 2>because it has exports from Mexicos, which obviously are impacted

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<v Speaker 2>by the trade war, but we're seeing optimism among analysts.

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<v Speaker 2>Deutsche Bank upgraded their target and are implying eleven percent

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<v Speaker 2>increase from here. The company actually develops that technology that

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<v Speaker 2>helps self driving cars and especially when they're turning and parking,

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<v Speaker 2>and it helps the autonomy to really provide that reliable

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<v Speaker 2>of situational awareness. So it's a very important thing. They

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<v Speaker 2>work with Mercedes, Volvo and all those big brands, so

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<v Speaker 2>they're doing well.

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<v Speaker 1>The Stockmovers podcast from Bloomberg Radio. Check back with us

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