Speaker 1: Bloomberg Audio Studios podcasts, Radio News, Stock Movers podcast. This
Speaker 1: is your roundup of companies making news on Wall Street
Speaker 1: and beyond. Harnessing the power of Bloomberg data. Let's take
Speaker 1: a look at some stocks on the move today. We
Speaker 1: do that with Bloomberg's John Tucker.
Speaker 2: John, what you gutt Let's start with an overseas stock guys,
Speaker 2: that's taken a hit and you'll know why. It's IAG
Speaker 2: and they all British Airways, Yeah. And the whole of
Speaker 2: British Airways, of course, is Heathrow Airport. BA says in
Speaker 2: a statement. The shutdown Heathrow from that electrical outage is
Speaker 2: going to quote clearly have a significant impact on our
Speaker 2: operation and our customers, and we're working as quickly as
Speaker 2: possible to update them on the travel options for the
Speaker 2: next twenty four hours and beyond. About six hundred and
Speaker 2: seventy seven flights affected by British Airways British Airways alone,
Speaker 2: that doesn't count the sixty two for virgin Yeah, and
Speaker 2: forty two at least forty two for Deutschel Duftanza. By
Speaker 2: the way, it brings up the question and put on
Speaker 2: your thinking cav what are the busiest airports in the
Speaker 2: world and rank them.
Speaker 1: You know, well, Dubai's got to be up there.
Speaker 2: Singapore Atlanta's number one, followed by yes, Dubai, Tokyo, Heathrow
Speaker 2: he throws number four, and then Dallas Fort Worth and
Speaker 2: then Denver is surprising, I guess in the New York
Speaker 2: metropolitan area. JSK doesn't rank way up there because we've
Speaker 2: got JFK Newark and.
Speaker 3: Put all those war together.
Speaker 2: But yeah, what else? Next one? This is kind of obvious,
Speaker 2: and it's the earnings from FedEx lowering the full year
Speaker 2: guidance for a third consecutive quarter. So they say the
Speaker 2: adjusted earnings are now expected to be in the range
Speaker 2: of eighteen to eighteen dollars sixty cents per share this
Speaker 2: fiscal year. So what's the big deal? They're blaming inflation
Speaker 2: and uncertain demand. FedEx the latest company in the US
Speaker 2: to sound the alarm amid weakening consumer confidence and the
Speaker 2: potential fallout from a President Trump's escalating trade war. They
Speaker 2: make a lot of the stuff over the border. The
Speaker 2: company has always been considered something of a bell They
Speaker 2: ship a lot of stuff of course worldwide, something of
Speaker 2: a bell weather because they're exposed to a big part
Speaker 2: of the global economy. Volumes also hit by the expiration
Speaker 2: of the contract to carry packages for the US Postal Service.
Speaker 2: Now Lee Glasgow at Bloomberg Intelligence covers the company. He
Speaker 2: says the tariff proposals, including one to revoke the so
Speaker 2: called deminimous exemption for low value shipments, that made package
Speaker 2: demand at profits especially difficult for FEDEC to predict. I
Speaker 2: love this, he says. Quote they throw a number out
Speaker 2: there and just are hoping for the best at this point.
Speaker 3: That is Lee clascal cynicism at its best, which I love.
Speaker 3: That's one of the reasons I hired him to take
Speaker 3: the company line.
Speaker 2: Another earning story Nike, The comeback there looks like it
Speaker 2: just stumbled, the company signaling further declines in revenue and profitability.
Speaker 2: The company trying to clear out old inventory through heavy discounting,
Speaker 2: but inventory levels remain elevated across all categories, they say
Speaker 2: in the gross margin expended to decline sharply in the
Speaker 2: current quarter, demands fading for some of the biggest sneaker franchises.
Speaker 2: Nike also cites a backdrop of weak consumer spending it
Speaker 2: and fallout from the trade war. You got to wonder,
Speaker 2: like in past, when a lot of companies blame the
Speaker 2: weather or something like that, if that's going to fall
Speaker 2: under the category of the trade.
Speaker 1: War as well. It's easy.
Speaker 2: It's a easy excuse. It might be legitimate too. Up next,
Speaker 2: the ticker symbol m S G S there two because
Speaker 2: there's msg S and MSG.
Speaker 3: The Dolan family has a control.
Speaker 2: Stock Madison Square Gardens Sports. So after the Celtics, that's
Speaker 2: staggering six point one billion dollars sale. We asked the question,
Speaker 2: how does that impact the value of other NBA teams,
Speaker 2: and the Knicks were the only one that come close
Speaker 2: to being publicly traded. MSGS also covers the Rangers as well,
Speaker 2: so they're actually part of the Madison Square Gardens Sports.
Speaker 2: The shares jumped to the trading volume also searched on
Speaker 2: that news.
Speaker 3: Well, it's got an enterprise value five point seven billion
Speaker 3: dollars MSG, and that's got to be way higher than
Speaker 3: Celtics because a it's New York and be you get
Speaker 3: the building the world's most famous.
Speaker 1: Arun's it I mean kudas to wick Resspec and the
Speaker 1: team at Bob Boston. I mean they purchased that team
Speaker 1: in two thousand and two for three hundred and sixty
Speaker 1: million dollars and now it's six point one seventeen x.
Speaker 2: What's the most valuable sports franchise, Cowboys? Yeah, by far,
Speaker 2: Like that's like over ten billion. Question.
Speaker 1: Yeah. The Stock Movers podcast from Bloomberg Radio. Check back
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