1
00:00:02,520 --> 00:00:10,440
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

2
00:00:10,800 --> 00:00:14,040
Speaker 1: your roundup of companies making moves in the stock market,

3
00:00:14,240 --> 00:00:17,480
Speaker 1: harnessing the power of Bloomberg Data.

4
00:00:17,680 --> 00:00:19,239
Speaker 2: Let's going to look at some stocks on the move today.

5
00:00:19,239 --> 00:00:22,000
Speaker 2: We're joined at by Bloomberg's A Lisa MITTEO. Lisa, you're

6
00:00:22,000 --> 00:00:23,279
Speaker 2: looking at Apple.

7
00:00:23,160 --> 00:00:25,319
Speaker 3: Yeah, we are, because it ended the day down about

8
00:00:25,360 --> 00:00:28,080
Speaker 3: nine percent yesterday, a race about three hundred and eleven

9
00:00:28,120 --> 00:00:31,000
Speaker 3: billion dollars in market value, the worst single data cliine

10
00:00:31,040 --> 00:00:34,520
Speaker 3: since March sixteenth, twenty twenty, so that was during the pandemic.

11
00:00:35,000 --> 00:00:38,159
Speaker 3: This morning, shares have been down about three percent. We

12
00:00:38,240 --> 00:00:40,520
Speaker 3: all know from the story yesterday the supply chain relies

13
00:00:40,560 --> 00:00:43,280
Speaker 3: heavily on China. Right, new tarists will reach thirty four

14
00:00:43,280 --> 00:00:46,720
Speaker 3: percent for China. But the thing is it's not just China.

15
00:00:46,800 --> 00:00:49,919
Speaker 3: Apple also relies on other nations that are affected by tariffs,

16
00:00:49,920 --> 00:00:55,120
Speaker 3: including India, Vietnam, Malaysia, Thailand, Ireland. And then it's not

17
00:00:55,200 --> 00:00:57,680
Speaker 3: just Apple too, I mean Dell Technologies. They sank nineteen

18
00:00:57,720 --> 00:01:00,840
Speaker 3: percent yesterday. Those shares have been down as much as

19
00:01:00,880 --> 00:01:02,800
Speaker 3: six percent this morning. So it just goes to show

20
00:01:02,800 --> 00:01:04,160
Speaker 3: you that it's still on the downfall.

21
00:01:04,480 --> 00:01:06,800
Speaker 2: Yeah, the socks indecks for example, talking about say Semi's

22
00:01:06,800 --> 00:01:09,280
Speaker 2: in particular, on a weekly basis, it's followed the most,

23
00:01:09,319 --> 00:01:12,120
Speaker 2: it's fell the most since twenty twenty, lowest levels in

24
00:01:12,160 --> 00:01:14,800
Speaker 2: November twenty twenty three. I think at comparison is going

25
00:01:14,880 --> 00:01:17,520
Speaker 2: to rain for a little bit. Also look at Nike,

26
00:01:17,680 --> 00:01:20,200
Speaker 2: talk about a stock that got really hurt yesterday.

27
00:01:20,240 --> 00:01:22,440
Speaker 3: Where are we today, Yeah, most definitely. But what's wild

28
00:01:22,520 --> 00:01:25,960
Speaker 3: about this is that during President Trump's first term, apparel

29
00:01:25,959 --> 00:01:29,039
Speaker 3: footwear makers right, they shifted their manufacturing out of China

30
00:01:29,120 --> 00:01:31,880
Speaker 3: to avoid tariffs, and now they're being hit anyway because

31
00:01:32,240 --> 00:01:34,800
Speaker 3: Trump is targeting the same nations that they decided to

32
00:01:34,840 --> 00:01:37,679
Speaker 3: move to, So nations like Vietnam facing a tariff of

33
00:01:37,720 --> 00:01:40,160
Speaker 3: forty six percent. So Nike, as we know, ended the

34
00:01:40,200 --> 00:01:42,560
Speaker 3: day off more than down more than fourteen percent yesterday

35
00:01:42,560 --> 00:01:45,319
Speaker 3: this morning down as much as about five percent. And

36
00:01:45,360 --> 00:01:47,960
Speaker 3: it wasn't just Nike, We had Adidas, Lulu, Lemon two.

37
00:01:48,280 --> 00:01:50,800
Speaker 3: What I found interesting, though, is that how much is

38
00:01:50,920 --> 00:01:53,960
Speaker 3: produced here in the US. So analysts from Jeffries, they

39
00:01:54,040 --> 00:01:56,240
Speaker 3: estimate that only two and a half percent of the

40
00:01:56,320 --> 00:01:59,480
Speaker 3: US apparel market and one percent of the footwear market

41
00:01:59,520 --> 00:02:04,840
Speaker 3: are made domestically. Vietnam actually exported forty four billion dollars

42
00:02:04,880 --> 00:02:07,080
Speaker 3: in textiles last year, with the US as actually it's

43
00:02:07,160 --> 00:02:11,200
Speaker 3: largest market. Wow, there's just no getting around those. No,

44
00:02:10,200 --> 00:02:11,359
Speaker 3: there's no.

45
00:02:11,840 --> 00:02:13,720
Speaker 2: Those are real solid numbers. And then let's wrap it

46
00:02:13,800 --> 00:02:15,800
Speaker 2: up here with some of the automakers. They had already

47
00:02:15,880 --> 00:02:18,800
Speaker 2: been getting hit, of course to some extent. Then the

48
00:02:18,800 --> 00:02:20,840
Speaker 2: tariffs went into effect yesterday.

49
00:02:20,880 --> 00:02:23,120
Speaker 3: What about Stilanta's Okay, so they closed down more than

50
00:02:23,160 --> 00:02:26,560
Speaker 3: nine percent yesterday this morning, off as much as five percent,

51
00:02:26,919 --> 00:02:29,160
Speaker 3: But they're also doing a few other things, kind of

52
00:02:29,160 --> 00:02:31,400
Speaker 3: this trickle down effect. So the news came out that

53
00:02:31,480 --> 00:02:34,840
Speaker 3: about six thousand workers in Canada's auto sector received temporary

54
00:02:34,919 --> 00:02:39,040
Speaker 3: layoff notices. That's according to their largest union. The majority

55
00:02:39,080 --> 00:02:41,560
Speaker 3: of them they worked at Stalantis plant in Ontario that

56
00:02:41,600 --> 00:02:45,160
Speaker 3: makes Chrysler Dodge vehicles. They're going to pause production for

57
00:02:45,200 --> 00:02:47,960
Speaker 3: two weeks starting on Monday. Then on top of that,

58
00:02:48,160 --> 00:02:51,840
Speaker 3: Silantis received a downgrade by Fitch due to tariffs. And

59
00:02:51,919 --> 00:02:54,320
Speaker 3: now what they're doing is they're trying to spark sale.

60
00:02:54,480 --> 00:02:57,120
Speaker 3: So we heard a similar story from four but the

61
00:02:57,120 --> 00:02:59,560
Speaker 3: Wall Street Journal reporting that's Stilantis. Now they wanted to

62
00:02:59,600 --> 00:03:04,079
Speaker 3: extend that employee discount program to other car buyers and

63
00:03:04,160 --> 00:03:06,200
Speaker 3: on most of their new models. So we're talking about

64
00:03:06,480 --> 00:03:09,960
Speaker 3: being effective today, and it's about the cheap Wrangler suv,

65
00:03:10,160 --> 00:03:12,600
Speaker 3: the Ram light duty pickup trucks as well, so they

66
00:03:12,639 --> 00:03:14,840
Speaker 3: might be getting those. They're trying to just get more

67
00:03:14,880 --> 00:03:16,600
Speaker 3: people in, you know, to buy the things. So that's

68
00:03:16,600 --> 00:03:19,440
Speaker 3: why they're getting giving out those employee discount programs too.

69
00:03:19,560 --> 00:03:25,639
Speaker 1: Just Everyday Shoppers, the Stock Movers podcast from Bloomberg Radio,

70
00:03:26,040 --> 00:03:28,360
Speaker 1: check back with us throughout the day for the latest

71
00:03:28,400 --> 00:03:31,560
Speaker 1: roundup of companies making news on Wall Street and for

72
00:03:31,639 --> 00:03:35,520
Speaker 1: the latest market moving headlines. Listen to Bloomberg Radio Live.

73
00:03:35,920 --> 00:03:39,200
Speaker 1: Catch us on YouTube, Bloomberg dot com, and on Applecarplay

74
00:03:39,240 --> 00:03:41,800
Speaker 1: and Android Auto with the Bloomberg Business app.