WEBVTT - Intel Jumps, Boeing Rises, Nike Drops on Disappointing Forecast

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 2>For that, we're joined by Bloomberg's Christina Quino.

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<v Speaker 1>Christine, what are you looking at today? All right, Paul,

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<v Speaker 1>Let's start with Intel today. Those shares are roaring at

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<v Speaker 1>the moments a ticker INTC shares extending now up nine

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<v Speaker 1>point four percent on the day, and that is because

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<v Speaker 1>Intel agreed to pay fourteen billion dollars to buy back

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<v Speaker 1>half of a plant in Ireland. I don't know how

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<v Speaker 1>you buy half of a plant, but Intel is doing it.

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<v Speaker 1>They are buying it back from Apollo, was the previous buyer,

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<v Speaker 1>and so apparently the transaction is going to be financed

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<v Speaker 1>with cash in hand, as well as the issuance of

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<v Speaker 1>about six and a half billion dollars in new debt.

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<v Speaker 1>Now investors are thinking that this is a positive sign

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<v Speaker 1>for Intel because they spent much of twenty twenty five

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<v Speaker 1>in cost cutting mode. So the fact that they're spending

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<v Speaker 1>money and investing in infrastructure, particularly as they try to

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<v Speaker 1>get into the infrastructure space. That is all being taken

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<v Speaker 1>positive by the market. Boy Frank Yery I worked with

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<v Speaker 1>back in Solomon.

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<v Speaker 2>He's the chairman of the board.

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<v Speaker 1>And tell me about throw a phone call out the

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<v Speaker 1>Frank and say what are you guys doing?

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<v Speaker 2>Yeah, explain the strategy here is always smart.

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<v Speaker 1>Well, I have a plan instead of a full plant.

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<v Speaker 1>That's why I'd like to know.

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<v Speaker 2>Maybe in due time. Let's talk about some defense contractors.

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<v Speaker 1>Absolutely scarlet. Let's talk about Boeing in particular, because that's

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<v Speaker 1>a big winner as well. Today, so ticker BA those

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<v Speaker 1>shares also climbing on the day. They are now up.

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<v Speaker 1>Let's have a look here, more than five percent, so

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<v Speaker 1>extending some of those earlier games. And that is because

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<v Speaker 1>the Pentagon announced a partnership with Boeing as well as

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<v Speaker 1>Lockheed Martin to triple the production capacity of secrets for

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<v Speaker 1>the Patriot Advanced Capability three missile segment enhancement. That is

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<v Speaker 1>a lot of words to say missiles, but there you go.

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<v Speaker 1>And so Boeing and now involved in this deal as well,

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<v Speaker 1>again also saying that it's going to be a seven

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<v Speaker 1>year agreement with Boeing, it's going to be part of

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<v Speaker 1>its recent agreement with Lockheed to more than triple the

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<v Speaker 1>output for these Patriots Seeker missiles and so annas are

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<v Speaker 1>noting that the tripling of production is well in excess

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<v Speaker 1>of I think it was initially an implied seven hundred

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<v Speaker 1>and fifty per year in delivery in twenty thirty, which

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<v Speaker 1>was earlier reference in October twenty twenty five. So those

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<v Speaker 1>shares benefiting from that as well. Okay, very good. One more,

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<v Speaker 1>let's take a look at Nike, big downer of a

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<v Speaker 1>stock today, So took her n K again, those shares

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<v Speaker 1>extending they're opening the clients. They are now down more

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<v Speaker 1>than fourteen percent, so we know. Of course, Nike did

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<v Speaker 1>have a disappointing forecast for the year ahead. They said

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<v Speaker 1>that revenue is expected to decline in the current quarter.

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<v Speaker 1>It's going to be down for the rest of the

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<v Speaker 1>calendar year now. A Bloombering News exclusive also taking a

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<v Speaker 1>look at this recording of an all hands staff meeting

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<v Speaker 1>where the CEO, Elliott Hill, talking to staff basically airing

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<v Speaker 1>his fresh about the situation. He said, quote, I am

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<v Speaker 1>so tired, and I know you are too. You off

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<v Speaker 1>talking about fixing the business. I want to move to

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<v Speaker 1>inspiring and driving growth and having fun. But clearly divides

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<v Speaker 1>are off there not having fun at the moment.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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