1 00:00:02,480 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:09,880 --> 00:00:13,320 Speaker 2: This is the closing bell on this stock movers report, 3 00:00:13,560 --> 00:00:16,520 Speaker 2: the company's making moves at the close of US trading 4 00:00:16,760 --> 00:00:21,600 Speaker 2: with Carol Masser, Tim Stenebeck, Romain Bostick, and Scarlet. 5 00:00:21,040 --> 00:00:24,919 Speaker 3: Food to the S and P five hundred. I go, 6 00:00:25,440 --> 00:00:28,200 Speaker 3: and you've got most names in the index lower on 7 00:00:28,280 --> 00:00:30,640 Speaker 3: this Thursday. You're talking about three hundred and eighty three 8 00:00:30,680 --> 00:00:32,800 Speaker 3: to the downside, one hundred and nineteen to the upside, 9 00:00:32,800 --> 00:00:33,960 Speaker 3: mat and one unchanged. 10 00:00:34,159 --> 00:00:38,839 Speaker 4: Yeah, one loser or sorry, one winner for every four losers. Essentially, 11 00:00:39,479 --> 00:00:41,720 Speaker 4: it's even worse if you look at the breadth of 12 00:00:42,000 --> 00:00:46,120 Speaker 4: industry groups. It was a gainer today because you have 13 00:00:46,280 --> 00:00:50,000 Speaker 4: that Intel Apple story, which I still find so fascinating. 14 00:00:50,000 --> 00:00:51,239 Speaker 4: You can do this the hard way, or you can 15 00:00:51,280 --> 00:00:52,520 Speaker 4: do this the easy way, right. 16 00:00:53,120 --> 00:00:54,640 Speaker 5: May I don't think that's the same story. 17 00:00:54,720 --> 00:00:57,400 Speaker 4: Maybe Apple takes a steak and Intel may may make 18 00:00:57,440 --> 00:00:58,960 Speaker 4: a lot of other things easier for them. 19 00:00:59,200 --> 00:01:01,200 Speaker 3: We aren't calling it CEO diplomacy. 20 00:01:01,360 --> 00:01:05,160 Speaker 4: Yes, so you see it, and really energy kind of flat. 21 00:01:05,200 --> 00:01:07,840 Speaker 4: But they are the only green slices. 22 00:01:07,480 --> 00:01:09,479 Speaker 1: Of the podcast on that point. I mean, I heard 23 00:01:09,520 --> 00:01:11,600 Speaker 1: your interview a little bit earlier today Carol and Tim 24 00:01:11,640 --> 00:01:14,119 Speaker 1: with Mark German, and of course that covers all things Apple, 25 00:01:14,240 --> 00:01:15,560 Speaker 1: and you kind of put them on the spot there 26 00:01:15,560 --> 00:01:17,399 Speaker 1: with some of the questions about Tim Cook. But I 27 00:01:17,400 --> 00:01:18,840 Speaker 1: thought he kind of made a good point. I mean, look, 28 00:01:18,840 --> 00:01:21,880 Speaker 1: there's a fiduciary duty that any CEO has to its 29 00:01:21,880 --> 00:01:24,440 Speaker 1: investors and for that matter, to its employees and its customers. 30 00:01:24,440 --> 00:01:27,440 Speaker 1: And he's navigating that as he should do right or 31 00:01:27,440 --> 00:01:28,280 Speaker 1: he shouldn't be CEO. 32 00:01:28,520 --> 00:01:30,720 Speaker 3: I agree, I agree. We keep talking about that, right, 33 00:01:30,760 --> 00:01:32,360 Speaker 3: if you don't really want to get on the radar 34 00:01:32,560 --> 00:01:34,880 Speaker 3: of the White House or the administration, and you've got 35 00:01:34,920 --> 00:01:36,720 Speaker 3: to think about your company and you've got to think 36 00:01:36,760 --> 00:01:40,119 Speaker 3: about the financials or your share price. I mean, right, 37 00:01:40,200 --> 00:01:42,720 Speaker 3: there is a responsibility, but it's it's just kind of 38 00:01:42,720 --> 00:01:43,800 Speaker 3: interesting to see how well. 39 00:01:43,640 --> 00:01:45,720 Speaker 4: You've got to want to diversify too, Right, you can't 40 00:01:45,800 --> 00:01:49,200 Speaker 4: make all of your chips at TSMC all of the time. 41 00:01:49,800 --> 00:01:51,400 Speaker 4: Why not get another foundry? 42 00:01:52,040 --> 00:01:55,120 Speaker 5: But is they've moved away from Intel in the past 43 00:01:55,160 --> 00:01:55,840 Speaker 5: and marketing. 44 00:01:55,880 --> 00:01:57,440 Speaker 4: They design them all in the house, but where they 45 00:01:57,440 --> 00:01:59,280 Speaker 4: design them and where they make them are two very different. 46 00:01:59,640 --> 00:01:59,840 Speaker 1: Mark. 47 00:02:00,160 --> 00:02:02,440 Speaker 5: Mark made the point like maybe they could make some 48 00:02:02,520 --> 00:02:05,640 Speaker 5: of the you know, you know some of the chips 49 00:02:05,640 --> 00:02:07,840 Speaker 5: that they use in some of the devices. There are 50 00:02:07,880 --> 00:02:10,359 Speaker 5: so many, But that's not that's not what this is 51 00:02:10,400 --> 00:02:10,679 Speaker 5: about me. 52 00:02:10,840 --> 00:02:12,440 Speaker 3: Either way, I'm going to say, if you're an Intel 53 00:02:12,440 --> 00:02:14,840 Speaker 3: shareholder right now, you're pretty happy because you continue to 54 00:02:14,840 --> 00:02:18,280 Speaker 3: see this stock moving up today. Yes, sir, I know. 55 00:02:18,400 --> 00:02:19,840 Speaker 1: Are you going to get to your gainers? Essentially? 56 00:02:19,960 --> 00:02:22,120 Speaker 3: Well that was my segue. Thanks for like jumping in 57 00:02:22,160 --> 00:02:26,800 Speaker 3: on it again. All right, Where are where is Katie? 58 00:02:26,840 --> 00:02:30,600 Speaker 3: The boys? Intel up almost nine percent today's session. It 59 00:02:30,800 --> 00:02:32,440 Speaker 3: is the top gainer in both the S and P 60 00:02:32,520 --> 00:02:35,240 Speaker 3: five hundred and NASDAQ one hundred. It was also upgraded 61 00:02:35,240 --> 00:02:38,040 Speaker 3: and neutral from sell over at Seaport Global. They see 62 00:02:38,080 --> 00:02:40,280 Speaker 3: your term upside for the chip maker if it receives 63 00:02:40,360 --> 00:02:43,040 Speaker 3: more direct investments. There you have it, that's pretty clear 64 00:02:43,120 --> 00:02:45,560 Speaker 3: going forward. And of course we've been talking about the 65 00:02:45,600 --> 00:02:47,680 Speaker 3: Apple Intel whether or not we get something out of that. 66 00:02:48,320 --> 00:02:52,160 Speaker 3: Lithium America's guys also an outperformer in a big way, 67 00:02:52,240 --> 00:02:55,320 Speaker 3: up about twenty three percent after almost a ninety six 68 00:02:55,360 --> 00:03:00,480 Speaker 3: percent gain yesterday heavy volume in today's trading. Today, white 69 00:03:00,520 --> 00:03:05,359 Speaker 3: House proposed taking equity in the company during a renegotiation 70 00:03:05,440 --> 00:03:07,679 Speaker 3: of some terms of a two point three billion dollar 71 00:03:07,760 --> 00:03:11,560 Speaker 3: loan extended by the Energy Department. Bloomberg News reporting that out. 72 00:03:11,639 --> 00:03:14,480 Speaker 3: That came out on Tuesday. We've had Reuters reporting that 73 00:03:14,480 --> 00:03:16,160 Speaker 3: the administration was seeing a stake of as much as 74 00:03:16,160 --> 00:03:19,959 Speaker 3: ten percent. Nonetheless, it's on everybody's radar. We are living 75 00:03:20,040 --> 00:03:24,880 Speaker 3: in a very different capitalistic environment, it feels like, certainly 76 00:03:24,880 --> 00:03:29,720 Speaker 3: with the government potentially taking stakes in various companies. All right, 77 00:03:29,720 --> 00:03:31,800 Speaker 3: Synopsis got to bring that one out, guys, because that 78 00:03:31,880 --> 00:03:33,600 Speaker 3: too was a top gainer. But the S and P 79 00:03:33,639 --> 00:03:36,960 Speaker 3: five hundred now is tack one hundred, up about four percent. 80 00:03:37,120 --> 00:03:40,480 Speaker 3: Here some reporting the company out with a release that 81 00:03:40,600 --> 00:03:44,080 Speaker 3: it and Taiwan Semi have been working together to shortened 82 00:03:44,080 --> 00:03:48,480 Speaker 3: design cycle times on more efficient ship technology. So that 83 00:03:48,520 --> 00:03:51,200 Speaker 3: caught the attention. So some good gainers. 84 00:03:50,880 --> 00:03:53,000 Speaker 5: There, Well, what caught my time? I say, down some 85 00:03:53,040 --> 00:03:55,480 Speaker 5: of the decliners in the S and P five hundred. 86 00:03:55,520 --> 00:03:57,920 Speaker 5: The worst perform on a percentage basis in there was 87 00:03:58,000 --> 00:04:00,840 Speaker 5: CarMax by a long shot, down to twenty percent. Today. 88 00:04:01,280 --> 00:04:04,080 Speaker 5: Shares tumbled after the company reported weaker than expected results 89 00:04:04,080 --> 00:04:07,040 Speaker 5: that showed deepening strain in the used car market. Company 90 00:04:07,040 --> 00:04:10,440 Speaker 5: executive actually came out and said fallout from President Trump's 91 00:04:10,480 --> 00:04:14,160 Speaker 5: tariffs and rising to stress among consumers were what led 92 00:04:14,200 --> 00:04:17,520 Speaker 5: to falling sales and profit. There have been some recent 93 00:04:17,600 --> 00:04:21,000 Speaker 5: challenges in the auto industry, as Matt is absolutely aware, 94 00:04:21,080 --> 00:04:24,600 Speaker 5: subprime model lender Tricolor Holdings declared bankruptcy this month amid 95 00:04:24,680 --> 00:04:27,599 Speaker 5: allegations of fraud. First Brands Group is preparing to file 96 00:04:27,640 --> 00:04:31,520 Speaker 5: bankruptcy as soon as next week. Bloomberg News reported once again, 97 00:04:31,600 --> 00:04:33,760 Speaker 5: Chares down twenty percent, the worst performer in the S 98 00:04:33,800 --> 00:04:37,360 Speaker 5: and P five hundred, Tesla, speaking of automakers, down four 99 00:04:37,360 --> 00:04:40,120 Speaker 5: point four percent. It was the worst performer of the 100 00:04:40,160 --> 00:04:43,839 Speaker 5: mag seven today on a percentage basis. Chars fell as 101 00:04:43,880 --> 00:04:47,559 Speaker 5: European sales of Tesla's fell twenty two percent last month, 102 00:04:47,760 --> 00:04:50,400 Speaker 5: giving a market share of just one point nine percent. 103 00:04:50,440 --> 00:04:54,640 Speaker 5: European car sales overall climbed four point seven percent last month. 104 00:04:54,640 --> 00:04:57,919 Speaker 5: It turns out that EV sales were actually rose in 105 00:04:57,920 --> 00:05:01,800 Speaker 5: the region last month. Hybrid's though we're a particularly bright spot. 106 00:05:01,600 --> 00:05:03,760 Speaker 4: By the way, that bears repeating that bears repeating, So 107 00:05:03,800 --> 00:05:07,400 Speaker 4: European car sales rose five percent. Yes, EV sales in 108 00:05:07,440 --> 00:05:11,560 Speaker 4: Europe rose, and Tesla fell twenty two percent. Yeah, it 109 00:05:11,600 --> 00:05:15,240 Speaker 4: seems like a Tesla, a challenge particular to Tesla then, 110 00:05:15,560 --> 00:05:19,719 Speaker 4: and that's why you had shares fault today. Probably finally, 111 00:05:19,720 --> 00:05:22,400 Speaker 4: Freeport Macmaran, among the worst performers in the S and 112 00:05:22,400 --> 00:05:25,240 Speaker 4: B five hundred as well, fell another six percent, down 113 00:05:25,400 --> 00:05:28,520 Speaker 4: six six point two percent today, follow it from the 114 00:05:28,640 --> 00:05:32,720 Speaker 4: accident at the Grassburg copper Minded Indonesia continues. The accident 115 00:05:32,800 --> 00:05:35,320 Speaker 4: the MIND killed two workers that left five missing, and 116 00:05:35,360 --> 00:05:38,520 Speaker 4: it's led Freeport to declare force majure on contracted supplies 117 00:05:38,520 --> 00:05:41,279 Speaker 4: and slash its production guidance. We spoke to Joe Doe, 118 00:05:41,560 --> 00:05:45,239 Speaker 4: who covers economic statecraft and for years has covered metals 119 00:05:45,240 --> 00:05:46,760 Speaker 4: in mining, and he talked to us a little bit 120 00:05:46,760 --> 00:05:50,320 Speaker 4: about the negotiations between the Indonesian government, which controls fifty 121 00:05:50,360 --> 00:05:52,520 Speaker 4: one percent of the local entity, and now the concern 122 00:05:53,040 --> 00:05:56,880 Speaker 4: that the government might want more of that MIND ownership 123 00:05:56,920 --> 00:05:57,760 Speaker 4: and what that could mean. 124 00:05:57,800 --> 00:05:59,560 Speaker 1: All right, you quick check on yields here up for 125 00:05:59,680 --> 00:06:01,640 Speaker 1: a second and straight day, up for the third time 126 00:06:01,760 --> 00:06:03,680 Speaker 1: in the last four sessions. And a big part of 127 00:06:03,720 --> 00:06:06,640 Speaker 1: the reason is that stronger economic data than now seems 128 00:06:06,640 --> 00:06:08,880 Speaker 1: to be throwing just a touch of cold water here 129 00:06:09,040 --> 00:06:12,160 Speaker 1: on the idea of whether the FED actually does have 130 00:06:12,200 --> 00:06:15,520 Speaker 1: the room to continue cutting rates beyond that first twenty 131 00:06:15,520 --> 00:06:18,200 Speaker 1: five basis points that we already got. I do want 132 00:06:18,240 --> 00:06:19,839 Speaker 1: to go back up to the stock market though, and 133 00:06:19,880 --> 00:06:21,840 Speaker 1: some of the individual movers. One of the decliners you 134 00:06:21,880 --> 00:06:26,280 Speaker 1: didn't have on your board there, Tim Stenevik, Oh, targeting. 135 00:06:26,160 --> 00:06:27,839 Speaker 5: Yeah, well I knew we were talking about this, so 136 00:06:27,880 --> 00:06:30,560 Speaker 5: I didn't want to do it as one of the decliners' wilgreaming. 137 00:06:31,640 --> 00:06:33,440 Speaker 5: Sometimes you got to think about this. That was the 138 00:06:33,440 --> 00:06:34,040 Speaker 5: seguay for. 139 00:06:34,000 --> 00:06:34,400 Speaker 2: You, Carol. 140 00:06:35,080 --> 00:06:36,040 Speaker 1: You still haven't picked up. 141 00:06:36,080 --> 00:06:38,839 Speaker 5: It was also barely down today it's done like half 142 00:06:38,880 --> 00:06:39,920 Speaker 5: a percentage point too. 143 00:06:40,000 --> 00:06:43,080 Speaker 4: So is she going to talk about She's going to talk. 144 00:06:43,360 --> 00:06:45,000 Speaker 5: She's trying to get a word in box to do it. 145 00:06:45,360 --> 00:06:48,120 Speaker 5: We're not here. Go ahead, Carol, let's. 146 00:06:47,960 --> 00:06:49,520 Speaker 3: Talk about Starbucks. I was going to put this in 147 00:06:49,520 --> 00:06:53,200 Speaker 3: the category. I mean, you have Starbucks closing about one 148 00:06:53,240 --> 00:06:55,040 Speaker 3: percent of its stores in the United States and Knada 149 00:06:55,160 --> 00:06:58,960 Speaker 3: cutting nine hundred jobs. It's all part of its turnaround plan, 150 00:06:59,440 --> 00:07:02,520 Speaker 3: and investure is like not that impressed. It stocks down. 151 00:07:03,200 --> 00:07:04,880 Speaker 3: It was up about about half a percent of its 152 00:07:04,920 --> 00:07:07,880 Speaker 3: best levels of the session today, finishing with about a 153 00:07:07,920 --> 00:07:08,760 Speaker 3: decline of about. 154 00:07:08,560 --> 00:07:10,480 Speaker 1: It to try to check people up, Matt Miller, and 155 00:07:10,520 --> 00:07:11,400 Speaker 1: sometimes they just don't tell. 156 00:07:11,400 --> 00:07:11,640 Speaker 4: Don't know. 157 00:07:11,640 --> 00:07:13,080 Speaker 1: If you have this problem, you will host to show yourself. 158 00:07:13,120 --> 00:07:13,920 Speaker 2: Yeah, so you have to do this. 159 00:07:13,960 --> 00:07:16,960 Speaker 4: I think it's an exciting story regardless of the sharing, 160 00:07:17,360 --> 00:07:20,320 Speaker 4: because look, they're firing nine hundred workers. They're closing only 161 00:07:20,360 --> 00:07:24,840 Speaker 4: one percent of eighteen thousand stores. But a lot of 162 00:07:24,880 --> 00:07:27,120 Speaker 4: people have been coming out this morning and saying this 163 00:07:27,280 --> 00:07:29,680 Speaker 4: is the right track, and maybe this is what they 164 00:07:29,720 --> 00:07:31,560 Speaker 4: needed to do from the start, right Brian Nichol has 165 00:07:31,560 --> 00:07:34,240 Speaker 4: been in office for over a year, and since then 166 00:07:34,280 --> 00:07:37,960 Speaker 4: the stock has fallen six percent, Like, why didn't he 167 00:07:38,000 --> 00:07:40,360 Speaker 4: do this earlier? Why didn't he maybe cut a little 168 00:07:40,360 --> 00:07:42,160 Speaker 4: bit deeper? They just have too many stores and they're 169 00:07:42,200 --> 00:07:43,760 Speaker 4: not as exciting as they used to be, so that 170 00:07:43,920 --> 00:07:45,080 Speaker 4: they need to spruce it up. 171 00:07:45,240 --> 00:07:47,880 Speaker 5: Is one percent and nine hundred workers going to do anything. 172 00:07:47,880 --> 00:07:50,000 Speaker 5: And look, I know these are corporate workers and every 173 00:07:50,080 --> 00:07:53,640 Speaker 5: job lost is terrible, but three hundred and sixty thousand 174 00:07:53,640 --> 00:07:57,480 Speaker 5: employees is what the company has globally, So this is 175 00:07:57,520 --> 00:07:59,560 Speaker 5: not a This is a small This is a small 176 00:08:00,240 --> 00:08:01,840 Speaker 5: figure when you think about those numbers. 177 00:08:02,240 --> 00:08:08,040 Speaker 2: My point the stockmovers report from Bloomberg Radio. 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