Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Jim Stenoveek with Carol Masser. We are joined by
Speaker 3: Bloomberg Television Markets correspondent Nora Melnda for some stocks on
Speaker 3: the move.
Speaker 1: What do you got, Nora, So we.
Speaker 4: Can't stop talking about Nike. That's what I've got in
Speaker 4: mind to start things off. Ticker in k E a
Speaker 4: brutal day for the company, down about sixteen percent if
Speaker 4: you look at the size and scope, the lowest level
Speaker 4: since October of twenty fourteen. So non great investors not
Speaker 4: really liking what came out of earning. So they said
Speaker 4: that they expect revenue to decline this quarter and through
Speaker 4: the rest of this year. But what we do know
Speaker 4: is we've been getting reporting that the CEO, Elliott Hill,
Speaker 4: was telling staff that he wants to shift from fixing
Speaker 4: the business to actually driving growth. So we do understand
Speaker 4: that he did to express some frustrations there. But I mean,
Speaker 4: I've also just been looking at the performance of the company,
Speaker 4: and we know that this has really been a company
Speaker 4: that's been really struggling to chart a turnaround story. The
Speaker 4: stock is not about thirty percent so far in twenty
Speaker 4: twenty six. But interestingly, Wall Street I was looking about
Speaker 4: fifty seven percent of the analysts still say to buy
Speaker 4: the stock. But you know, I think in terms of
Speaker 4: Wall Street in their perception today, at least they weren't
Speaker 4: too pleased.
Speaker 1: Wasn't it when the numbers crossed? They we didn't get
Speaker 1: the outlook right away a country. We were all just
Speaker 1: kind of waiting for our Yeah, and then we get it.
Speaker 1: Weakness and greater China falling Converse sales or among management's
Speaker 1: biggest challenges. China is a story we've been talking about
Speaker 1: for a.
Speaker 4: While with Nike, see China. I did know I thought
Speaker 4: the Converse were timeless.
Speaker 1: No, I don't know. I don't really wear Converse to
Speaker 1: the Daughter Chick tailors, Right, yeah, I guess so, I
Speaker 1: don't know. You know what's amazing.
Speaker 3: They're aren't they what?
Speaker 4: I'm curious?
Speaker 3: Okay? Authentic? Well, we reported yesterday Lilly Meyer and Eliza
Speaker 3: RONALDS Hannon that a potential suitor for Converse could be
Speaker 3: an Authentic Brands group. They've expressed interest in buying converse
Speaker 3: if it's put up for sale. According to people familiar
Speaker 3: with the masters, can I.
Speaker 1: Just tell you often when I am on a subway
Speaker 1: or even this morning, I was walking through the platform,
Speaker 1: the subway platform, and I wanted to take a video
Speaker 1: as I walked along, because everybody has sneakers on, Yeah, everybody,
Speaker 1: and they're all different kinds of brands. It is such
Speaker 1: a crowded competitive field.
Speaker 2: And I know nice all birds.
Speaker 1: Right right, exactly, all Birds. I remember when they came
Speaker 1: out bottom, bottom bottom, but I haven't bought them for
Speaker 1: years a minute.
Speaker 3: Right now, they're winding down after selling assets for thirty
Speaker 3: nine million dollars.
Speaker 1: The thing is, Nike is iconic, and I'm not quite sure.
Speaker 1: Is it a bigger nut and harder to move? I
Speaker 1: don't know, I don't know.
Speaker 3: I just want to add one more thing. The interest
Speaker 3: is long standing. Nike so far hasn't engaged in discussions
Speaker 3: with the owner of Reeboking Champion, nor has Authentic made
Speaker 3: any official overture. According to the people who asked not
Speaker 3: to be identified because weren't authorized to speak publicly about the.
Speaker 1: Situation, I'm going to go back to the CFO saying
Speaker 1: they're going to be imaging costs carefully. So that's going
Speaker 1: to put pressure on everybody as they as they try
Speaker 1: to make things turn around. Sorry, we like this story too.
Speaker 4: It's interesting. Thank you must little chapters to unfold. Well,
Speaker 4: it's a going to name that ended in the green
Speaker 4: today and we can't share some of intel I INTC
Speaker 4: closing hired by about eight percent today. This is after
Speaker 4: the company agreed to pay about fourteen billion dollars to
Speaker 4: pay back half of a plant in Ireland that it
Speaker 4: had previously sold to Apollo Global. So Da Davidson, the
Speaker 4: analyst over there, did say that they think that this
Speaker 4: move bodes well for the company's turnaround story. The deal
Speaker 4: will apparently be funded with cash on hand and roughly
Speaker 4: about six and a half billion dollars in new debt.
Speaker 4: So clearly Wall Street was happy with this, and you know,
Speaker 4: stock ending higher on the day. Sixty nine percent of
Speaker 4: analysts on Wall Street do say though, to hold the stock.
Speaker 4: We know that this company is up about thirty percent
Speaker 4: so far in twenty twenty six.
Speaker 1: Got to believe they're not going to do this unless
Speaker 1: they're upbeate about the outlet look and make that spend.
Speaker 1: Let's go on over to a couple of drugstocks. Yeah.
Speaker 4: I mean, whenever you're looking for news, I feel that
Speaker 4: you know your biotechs, your drug companies, healthcare, they're always moving.
Speaker 4: I'm looking at shares of take r l Y as
Speaker 4: well as Novo Nordis ADRs take your Vo. So we
Speaker 4: did see Elilelly closing higher by about three percent. We
Speaker 4: do know that the FDA did approve the drug maker's
Speaker 4: obesity pill Fundio under the agency's National Priority Voucher Pilot program.
Speaker 4: We know what's kind of been a back and forth
Speaker 4: with these two companies. They're obviously always duking it out,
Speaker 4: I mean, but both of them really struggled this year.
Speaker 4: So it's really about which company is able to bring
Speaker 4: new things online that their investors can really sink their
Speaker 4: teeth into. And especially when we think about the fact
Speaker 4: that the OBCD space has been a really you know, buoyant,
Speaker 4: what popular industry as of late, this is where they
Speaker 4: really want to lean into. But both stocks are down
Speaker 4: so far this year. Ellellally shares down by about eleven
Speaker 4: percent and Novo nordoius ADR is down by twenty eight percent.
Speaker 4: In twenty twenty.
Speaker 1: Six, big hit. All right, good stuff. Check out our
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