WEBVTT - Closing Bell: Intel Rises, Tesla Slumps, Freeport-McMoRan Falls

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

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<v Speaker 2>This is the closing bell on this stock movers report,

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenebeck, Romain Bostick, and Scarlet.

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<v Speaker 3>Food to the S and P five hundred. I go,

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<v Speaker 3>and you've got most names in the index lower on

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<v Speaker 3>this Thursday. You're talking about three hundred and eighty three

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<v Speaker 3>to the downside, one hundred and nineteen to the upside,

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<v Speaker 3>mat and one unchanged.

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<v Speaker 4>Yeah, one loser or sorry, one winner for every four losers. Essentially,

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<v Speaker 4>it's even worse if you look at the breadth of

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<v Speaker 4>industry groups. It was a gainer today because you have

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<v Speaker 4>that Intel Apple story, which I still find so fascinating.

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<v Speaker 4>You can do this the hard way, or you can

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<v Speaker 4>do this the easy way, right.

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<v Speaker 5>May I don't think that's the same story.

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<v Speaker 4>Maybe Apple takes a steak and Intel may may make

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<v Speaker 4>a lot of other things easier for them.

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<v Speaker 3>We aren't calling it CEO diplomacy.

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<v Speaker 4>Yes, so you see it, and really energy kind of flat.

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<v Speaker 4>But they are the only green slices.

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<v Speaker 1>Of the podcast on that point. I mean, I heard

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<v Speaker 1>your interview a little bit earlier today Carol and Tim

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<v Speaker 1>with Mark German, and of course that covers all things Apple,

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<v Speaker 1>and you kind of put them on the spot there

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<v Speaker 1>with some of the questions about Tim Cook. But I

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<v Speaker 1>thought he kind of made a good point. I mean, look,

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<v Speaker 1>there's a fiduciary duty that any CEO has to its

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<v Speaker 1>investors and for that matter, to its employees and its customers.

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<v Speaker 1>And he's navigating that as he should do right or

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<v Speaker 1>he shouldn't be CEO.

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<v Speaker 3>I agree, I agree. We keep talking about that, right,

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<v Speaker 3>if you don't really want to get on the radar

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<v Speaker 3>of the White House or the administration, and you've got

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<v Speaker 3>to think about your company and you've got to think

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<v Speaker 3>about the financials or your share price. I mean, right,

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<v Speaker 3>there is a responsibility, but it's it's just kind of

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<v Speaker 3>interesting to see how well.

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<v Speaker 4>You've got to want to diversify too, Right, you can't

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<v Speaker 4>make all of your chips at TSMC all of the time.

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<v Speaker 4>Why not get another foundry?

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<v Speaker 5>But is they've moved away from Intel in the past

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<v Speaker 5>and marketing.

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<v Speaker 4>They design them all in the house, but where they

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<v Speaker 4>design them and where they make them are two very different.

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<v Speaker 1>Mark.

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<v Speaker 5>Mark made the point like maybe they could make some

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<v Speaker 5>of the you know, you know some of the chips

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<v Speaker 5>that they use in some of the devices. There are

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<v Speaker 5>so many, But that's not that's not what this is

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<v Speaker 5>about me.

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<v Speaker 3>Either way, I'm going to say, if you're an Intel

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<v Speaker 3>shareholder right now, you're pretty happy because you continue to

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<v Speaker 3>see this stock moving up today. Yes, sir, I know.

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<v Speaker 1>Are you going to get to your gainers? Essentially?

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<v Speaker 3>Well that was my segue. Thanks for like jumping in

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<v Speaker 3>on it again. All right, Where are where is Katie?

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<v Speaker 3>The boys? Intel up almost nine percent today's session. It

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<v Speaker 3>is the top gainer in both the S and P

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<v Speaker 3>five hundred and NASDAQ one hundred. It was also upgraded

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<v Speaker 3>and neutral from sell over at Seaport Global. They see

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<v Speaker 3>your term upside for the chip maker if it receives

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<v Speaker 3>more direct investments. There you have it, that's pretty clear

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<v Speaker 3>going forward. And of course we've been talking about the

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<v Speaker 3>Apple Intel whether or not we get something out of that.

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<v Speaker 3>Lithium America's guys also an outperformer in a big way,

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<v Speaker 3>up about twenty three percent after almost a ninety six

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<v Speaker 3>percent gain yesterday heavy volume in today's trading. Today, white

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<v Speaker 3>House proposed taking equity in the company during a renegotiation

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<v Speaker 3>of some terms of a two point three billion dollar

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<v Speaker 3>loan extended by the Energy Department. Bloomberg News reporting that out.

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<v Speaker 3>That came out on Tuesday. We've had Reuters reporting that

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<v Speaker 3>the administration was seeing a stake of as much as

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<v Speaker 3>ten percent. Nonetheless, it's on everybody's radar. We are living

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<v Speaker 3>in a very different capitalistic environment, it feels like, certainly

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<v Speaker 3>with the government potentially taking stakes in various companies. All right,

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<v Speaker 3>Synopsis got to bring that one out, guys, because that

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<v Speaker 3>too was a top gainer. But the S and P

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<v Speaker 3>five hundred now is tack one hundred, up about four percent.

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<v Speaker 3>Here some reporting the company out with a release that

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<v Speaker 3>it and Taiwan Semi have been working together to shortened

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<v Speaker 3>design cycle times on more efficient ship technology. So that

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<v Speaker 3>caught the attention. So some good gainers.

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<v Speaker 5>There, Well, what caught my time? I say, down some

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<v Speaker 5>of the decliners in the S and P five hundred.

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<v Speaker 5>The worst perform on a percentage basis in there was

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<v Speaker 5>CarMax by a long shot, down to twenty percent. Today.

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<v Speaker 5>Shares tumbled after the company reported weaker than expected results

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<v Speaker 5>that showed deepening strain in the used car market. Company

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<v Speaker 5>executive actually came out and said fallout from President Trump's

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<v Speaker 5>tariffs and rising to stress among consumers were what led

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<v Speaker 5>to falling sales and profit. There have been some recent

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<v Speaker 5>challenges in the auto industry, as Matt is absolutely aware,

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<v Speaker 5>subprime model lender Tricolor Holdings declared bankruptcy this month amid

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<v Speaker 5>allegations of fraud. First Brands Group is preparing to file

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<v Speaker 5>bankruptcy as soon as next week. Bloomberg News reported once again,

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<v Speaker 5>Chares down twenty percent, the worst performer in the S

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<v Speaker 5>and P five hundred, Tesla, speaking of automakers, down four

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<v Speaker 5>point four percent. It was the worst performer of the

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<v Speaker 5>mag seven today on a percentage basis. Chars fell as

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<v Speaker 5>European sales of Tesla's fell twenty two percent last month,

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<v Speaker 5>giving a market share of just one point nine percent.

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<v Speaker 5>European car sales overall climbed four point seven percent last month.

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<v Speaker 5>It turns out that EV sales were actually rose in

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<v Speaker 5>the region last month. Hybrid's though we're a particularly bright spot.

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<v Speaker 4>By the way, that bears repeating that bears repeating, So

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<v Speaker 4>European car sales rose five percent. Yes, EV sales in

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<v Speaker 4>Europe rose, and Tesla fell twenty two percent. Yeah, it

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<v Speaker 4>seems like a Tesla, a challenge particular to Tesla then,

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<v Speaker 4>and that's why you had shares fault today. Probably finally,

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<v Speaker 4>Freeport Macmaran, among the worst performers in the S and

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<v Speaker 4>B five hundred as well, fell another six percent, down

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<v Speaker 4>six six point two percent today, follow it from the

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<v Speaker 4>accident at the Grassburg copper Minded Indonesia continues. The accident

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<v Speaker 4>the MIND killed two workers that left five missing, and

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<v Speaker 4>it's led Freeport to declare force majure on contracted supplies

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<v Speaker 4>and slash its production guidance. We spoke to Joe Doe,

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<v Speaker 4>who covers economic statecraft and for years has covered metals

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<v Speaker 4>in mining, and he talked to us a little bit

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<v Speaker 4>about the negotiations between the Indonesian government, which controls fifty

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<v Speaker 4>one percent of the local entity, and now the concern

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<v Speaker 4>that the government might want more of that MIND ownership

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<v Speaker 4>and what that could mean.

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<v Speaker 1>All right, you quick check on yields here up for

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<v Speaker 1>a second and straight day, up for the third time

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<v Speaker 1>in the last four sessions. And a big part of

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<v Speaker 1>the reason is that stronger economic data than now seems

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<v Speaker 1>to be throwing just a touch of cold water here

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<v Speaker 1>on the idea of whether the FED actually does have

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<v Speaker 1>the room to continue cutting rates beyond that first twenty

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<v Speaker 1>five basis points that we already got. I do want

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<v Speaker 1>to go back up to the stock market though, and

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<v Speaker 1>some of the individual movers. One of the decliners you

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<v Speaker 1>didn't have on your board there, Tim Stenevik, Oh, targeting.

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<v Speaker 5>Yeah, well I knew we were talking about this, so

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<v Speaker 5>I didn't want to do it as one of the decliners' wilgreaming.

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<v Speaker 5>Sometimes you got to think about this. That was the

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<v Speaker 5>seguay for.

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<v Speaker 2>You, Carol.

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<v Speaker 1>You still haven't picked up.

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<v Speaker 5>It was also barely down today it's done like half

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<v Speaker 5>a percentage point too.

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<v Speaker 4>So is she going to talk about She's going to talk.

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<v Speaker 5>She's trying to get a word in box to do it.

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<v Speaker 5>We're not here. Go ahead, Carol, let's.

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<v Speaker 3>Talk about Starbucks. I was going to put this in

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<v Speaker 3>the category. I mean, you have Starbucks closing about one

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<v Speaker 3>percent of its stores in the United States and Knada

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<v Speaker 3>cutting nine hundred jobs. It's all part of its turnaround plan,

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<v Speaker 3>and investure is like not that impressed. It stocks down.

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<v Speaker 3>It was up about about half a percent of its

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<v Speaker 3>best levels of the session today, finishing with about a

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<v Speaker 3>decline of about.

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<v Speaker 1>It to try to check people up, Matt Miller, and

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<v Speaker 1>sometimes they just don't tell.

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<v Speaker 4>Don't know.

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<v Speaker 1>If you have this problem, you will host to show yourself.

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<v Speaker 2>Yeah, so you have to do this.

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<v Speaker 4>I think it's an exciting story regardless of the sharing,

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<v Speaker 4>because look, they're firing nine hundred workers. They're closing only

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<v Speaker 4>one percent of eighteen thousand stores. But a lot of

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<v Speaker 4>people have been coming out this morning and saying this

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<v Speaker 4>is the right track, and maybe this is what they

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<v Speaker 4>needed to do from the start, right Brian Nichol has

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<v Speaker 4>been in office for over a year, and since then

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<v Speaker 4>the stock has fallen six percent, Like, why didn't he

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<v Speaker 4>do this earlier? Why didn't he maybe cut a little

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<v Speaker 4>bit deeper? They just have too many stores and they're

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<v Speaker 4>not as exciting as they used to be, so that

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<v Speaker 4>they need to spruce it up.

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<v Speaker 5>Is one percent and nine hundred workers going to do anything.

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<v Speaker 5>And look, I know these are corporate workers and every

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<v Speaker 5>job lost is terrible, but three hundred and sixty thousand

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<v Speaker 5>employees is what the company has globally, So this is

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<v Speaker 5>not a This is a small This is a small

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<v Speaker 5>figure when you think about those numbers.

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<v Speaker 2>My point the stockmovers report from Bloomberg Radio. Check back

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<v Speaker 2>with us throughout the day for the latest roundup of

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<v Speaker 2>companies making news on Wall Street, and for the latest

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<v Speaker 2>market moving headlines. Listen to Bloomberg Radio Live, catch us

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