WEBVTT - DKS Plummets; New Apple Desktop; SpaceX  Climbs

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.520 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.440 --> 0:00:15.840
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.520 --> 0:00:18.640
<v Speaker 2>Let's take a look at some stocks in the move today.

0:00:19.079 --> 0:00:22.400
<v Speaker 1>Let's start off, remember when Dick's Sporting Goods acquired foot Locker.

0:00:22.800 --> 0:00:27.960
<v Speaker 1>Oh wow, how'd that turn out? Well? Anyway, dick Sporting

0:00:28.000 --> 0:00:31.560
<v Speaker 1>Goods lowering the full year outlook weakness at foot Locker.

0:00:31.960 --> 0:00:34.960
<v Speaker 1>The foot Locker unit overshadowing sales gains that they saw

0:00:35.040 --> 0:00:37.640
<v Speaker 1>during the World Cup. So the company now expects net

0:00:37.680 --> 0:00:39.840
<v Speaker 1>sales to be in a range of twenty one point

0:00:39.920 --> 0:00:43.040
<v Speaker 1>nine to twenty two point two billion dollars in the

0:00:43.080 --> 0:00:46.639
<v Speaker 1>current fiscal year. That's down from the previous forecast. Now,

0:00:46.680 --> 0:00:49.400
<v Speaker 1>the change and outlook driven by a drop in sales

0:00:49.440 --> 0:00:53.040
<v Speaker 1>at foot Locker. They bought that what last year for

0:00:53.440 --> 0:00:56.920
<v Speaker 1>two point four billion dollars. The stock is falling about

0:00:57.000 --> 0:01:00.360
<v Speaker 1>nine percent this year through the close yesterday. That with

0:01:00.400 --> 0:01:02.360
<v Speaker 1>a twelve percent game for the S and P five hundred.

0:01:02.880 --> 0:01:06.440
<v Speaker 1>The results in the lower outlook deepened skepticism about the

0:01:06.520 --> 0:01:10.440
<v Speaker 1>merits of the acquisition. According to Bloomberg Intelligence, that's where

0:01:10.440 --> 0:01:13.240
<v Speaker 1>the footlocker deal. It was announced what in May of

0:01:13.319 --> 0:01:16.120
<v Speaker 1>two thousand and five. There's a lot of criticism from

0:01:16.120 --> 0:01:20.039
<v Speaker 1>analysts about Dick's taking a troubled retailer on that would

0:01:20.040 --> 0:01:23.319
<v Speaker 1>give it more exposure to struggling malls. For instance, you.

0:01:23.440 --> 0:01:25.280
<v Speaker 2>Like a lot of those footlocker stores closed up.

0:01:25.360 --> 0:01:28.280
<v Speaker 1>I don't see them around anymore. There's still some out there.

0:01:28.360 --> 0:01:31.319
<v Speaker 1>But also as a result of this, LCCE shares of

0:01:31.440 --> 0:01:35.480
<v Speaker 1>Nike taking a hit this morning as well. Let's move

0:01:35.480 --> 0:01:37.720
<v Speaker 1>on to Apple gearing up to launch a new version

0:01:37.760 --> 0:01:41.720
<v Speaker 1>of its Mac Mini desktop computer for the first time

0:01:41.760 --> 0:01:46.000
<v Speaker 1>in almost two years. At least according to our sources,

0:01:46.280 --> 0:01:48.480
<v Speaker 1>the new Tesktop is going to debut as soon as

0:01:48.520 --> 0:01:50.800
<v Speaker 1>the coming days. It potentially is going to put the

0:01:50.840 --> 0:01:56.120
<v Speaker 1>unveiling ahead of the September event to introduce the next iPhone.

0:01:56.400 --> 0:01:59.040
<v Speaker 1>Apple has been testing versions with both the M five

0:01:59.080 --> 0:02:02.520
<v Speaker 1>and M six generations of its processor line. This upgrade

0:02:02.560 --> 0:02:06.760
<v Speaker 1>follows the surge in demand for the current Mac Mini.

0:02:07.600 --> 0:02:12.160
<v Speaker 1>The current macne has become very popular with AI tools.

0:02:12.240 --> 0:02:15.200
<v Speaker 2>It's a I'm confuted the macvinnie is a computer, not

0:02:15.280 --> 0:02:16.240
<v Speaker 2>an iPad.

0:02:16.360 --> 0:02:18.520
<v Speaker 1>Right, and you can they use it. You have to

0:02:18.520 --> 0:02:21.720
<v Speaker 1>get like two or three to do all sorts of

0:02:21.880 --> 0:02:26.160
<v Speaker 1>AI stuff, AI stuff to run your business. You can

0:02:26.240 --> 0:02:29.280
<v Speaker 1>be like a one person solo small business. My brother's

0:02:29.440 --> 0:02:31.600
<v Speaker 1>run My brother is a big deal. To be quick.

0:02:31.840 --> 0:02:34.480
<v Speaker 2>My brother's a big deal with this may clear in

0:02:34.520 --> 0:02:38.360
<v Speaker 2>twenty twenty eight, twenty nine, thirty, everybody's going to be

0:02:38.400 --> 0:02:40.720
<v Speaker 2>doing AI like on a Mac.

0:02:40.800 --> 0:02:41.200
<v Speaker 1>Whatever.

0:02:42.080 --> 0:02:43.360
<v Speaker 2>Is that what I have to look forward to.

0:02:43.639 --> 0:02:45.960
<v Speaker 1>That's what we have to look forward to. Who have

0:02:46.040 --> 0:02:49.200
<v Speaker 1>no clue? We continue with the no clue stock movers.

0:02:49.240 --> 0:02:54.760
<v Speaker 1>Here is John SpaceX stock significant yesterday closed at its

0:02:55.360 --> 0:02:59.200
<v Speaker 1>June IPO price yesterday one hundred and thirty five dollars.

0:02:59.360 --> 0:03:03.280
<v Speaker 1>Elon Musk retweeting a pulse from Nvidia about its via

0:03:03.400 --> 0:03:07.600
<v Speaker 1>Reuben Semiconductors, adding that SpaceX has helped design a space

0:03:07.880 --> 0:03:11.880
<v Speaker 1>optimized version that's planned for orbit in twenty twenty seven

0:03:12.200 --> 0:03:16.720
<v Speaker 1>with significant scale in twenty twenty eight. Space is a

0:03:16.840 --> 0:03:20.880
<v Speaker 1>very harsh place radiation at centro, so your chip in

0:03:20.919 --> 0:03:23.040
<v Speaker 1>this case, I guess it would be an amended via

0:03:23.120 --> 0:03:26.320
<v Speaker 1>reubenship has to be special.

0:03:27.760 --> 0:03:31.960
<v Speaker 2>The Stockmovers report from Bloomberg Radio. Check back with us

0:03:32.040 --> 0:03:34.800
<v Speaker 2>throughout the day for the latest roundup of companies making

0:03:34.880 --> 0:03:38.480
<v Speaker 2>news on Wall Street and for the latest market moving headlines.

0:03:38.720 --> 0:03:42.720
<v Speaker 2>Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg

0:03:42.760 --> 0:03:45.800
<v Speaker 2>dot com, and on Applecarplay and Android Auto with the

0:03:45.880 --> 0:03:47.200
<v Speaker 2>Bloomberg Business app.