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 2: Let's take a look at some stocks in the move today.
Speaker 1: Let's start off, remember when Dick's Sporting Goods acquired foot Locker.
Speaker 1: Oh wow, how'd that turn out? Well? Anyway, dick Sporting
Speaker 1: Goods lowering the full year outlook weakness at foot Locker.
Speaker 1: The foot Locker unit overshadowing sales gains that they saw
Speaker 1: during the World Cup. So the company now expects net
Speaker 1: sales to be in a range of twenty one point
Speaker 1: nine to twenty two point two billion dollars in the
Speaker 1: current fiscal year. That's down from the previous forecast. Now,
Speaker 1: the change and outlook driven by a drop in sales
Speaker 1: at foot Locker. They bought that what last year for
Speaker 1: two point four billion dollars. The stock is falling about
Speaker 1: nine percent this year through the close yesterday. That with
Speaker 1: a twelve percent game for the S and P five hundred.
Speaker 1: The results in the lower outlook deepened skepticism about the
Speaker 1: merits of the acquisition. According to Bloomberg Intelligence, that's where
Speaker 1: the footlocker deal. It was announced what in May of
Speaker 1: two thousand and five. There's a lot of criticism from
Speaker 1: analysts about Dick's taking a troubled retailer on that would
Speaker 1: give it more exposure to struggling malls. For instance, you.
Speaker 2: Like a lot of those footlocker stores closed up.
Speaker 1: I don't see them around anymore. There's still some out there.
Speaker 1: But also as a result of this, LCCE shares of
Speaker 1: Nike taking a hit this morning as well. Let's move
Speaker 1: on to Apple gearing up to launch a new version
Speaker 1: of its Mac Mini desktop computer for the first time
Speaker 1: in almost two years. At least according to our sources,
Speaker 1: the new Tesktop is going to debut as soon as
Speaker 1: the coming days. It potentially is going to put the
Speaker 1: unveiling ahead of the September event to introduce the next iPhone.
Speaker 1: Apple has been testing versions with both the M five
Speaker 1: and M six generations of its processor line. This upgrade
Speaker 1: follows the surge in demand for the current Mac Mini.
Speaker 1: The current macne has become very popular with AI tools.
Speaker 2: It's a I'm confuted the macvinnie is a computer, not
Speaker 2: an iPad.
Speaker 1: Right, and you can they use it. You have to
Speaker 1: get like two or three to do all sorts of
Speaker 1: AI stuff, AI stuff to run your business. You can
Speaker 1: be like a one person solo small business. My brother's
Speaker 1: run My brother is a big deal. To be quick.
Speaker 2: My brother's a big deal with this may clear in
Speaker 2: twenty twenty eight, twenty nine, thirty, everybody's going to be
Speaker 2: doing AI like on a Mac.
Speaker 1: Whatever.
Speaker 2: Is that what I have to look forward to.
Speaker 1: That's what we have to look forward to. Who have
Speaker 1: no clue? We continue with the no clue stock movers.
Speaker 1: Here is John SpaceX stock significant yesterday closed at its
Speaker 1: June IPO price yesterday one hundred and thirty five dollars.
Speaker 1: Elon Musk retweeting a pulse from Nvidia about its via
Speaker 1: Reuben Semiconductors, adding that SpaceX has helped design a space
Speaker 1: optimized version that's planned for orbit in twenty twenty seven
Speaker 1: with significant scale in twenty twenty eight. Space is a
Speaker 1: very harsh place radiation at centro, so your chip in
Speaker 1: this case, I guess it would be an amended via
Speaker 1: reubenship has to be special.
Speaker 2: The Stockmovers report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
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