WEBVTT - IAG, FedEx, Nike

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<v Speaker 1>Bloomberg Audio Studios podcasts, Radio News, Stock Movers podcast. This

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<v Speaker 1>is your roundup of companies making news on Wall Street

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<v Speaker 1>and beyond. Harnessing the power of Bloomberg data. Let's take

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<v Speaker 1>a look at some stocks on the move today. We

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<v Speaker 1>do that with Bloomberg's John Tucker.

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<v Speaker 2>John, what you gutt Let's start with an overseas stock guys,

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<v Speaker 2>that's taken a hit and you'll know why. It's IAG

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<v Speaker 2>and they all British Airways, Yeah. And the whole of

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<v Speaker 2>British Airways, of course, is Heathrow Airport. BA says in

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<v Speaker 2>a statement. The shutdown Heathrow from that electrical outage is

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<v Speaker 2>going to quote clearly have a significant impact on our

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<v Speaker 2>operation and our customers, and we're working as quickly as

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<v Speaker 2>possible to update them on the travel options for the

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<v Speaker 2>next twenty four hours and beyond. About six hundred and

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<v Speaker 2>seventy seven flights affected by British Airways British Airways alone,

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<v Speaker 2>that doesn't count the sixty two for virgin Yeah, and

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<v Speaker 2>forty two at least forty two for Deutschel Duftanza. By

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<v Speaker 2>the way, it brings up the question and put on

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<v Speaker 2>your thinking cav what are the busiest airports in the

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<v Speaker 2>world and rank them.

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<v Speaker 1>You know, well, Dubai's got to be up there.

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<v Speaker 2>Singapore Atlanta's number one, followed by yes, Dubai, Tokyo, Heathrow

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<v Speaker 2>he throws number four, and then Dallas Fort Worth and

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<v Speaker 2>then Denver is surprising, I guess in the New York

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<v Speaker 2>metropolitan area. JSK doesn't rank way up there because we've

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<v Speaker 2>got JFK Newark and.

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<v Speaker 3>Put all those war together.

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<v Speaker 2>But yeah, what else? Next one? This is kind of obvious,

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<v Speaker 2>and it's the earnings from FedEx lowering the full year

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<v Speaker 2>guidance for a third consecutive quarter. So they say the

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<v Speaker 2>adjusted earnings are now expected to be in the range

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<v Speaker 2>of eighteen to eighteen dollars sixty cents per share this

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<v Speaker 2>fiscal year. So what's the big deal? They're blaming inflation

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<v Speaker 2>and uncertain demand. FedEx the latest company in the US

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<v Speaker 2>to sound the alarm amid weakening consumer confidence and the

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<v Speaker 2>potential fallout from a President Trump's escalating trade war. They

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<v Speaker 2>make a lot of the stuff over the border. The

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<v Speaker 2>company has always been considered something of a bell They

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<v Speaker 2>ship a lot of stuff of course worldwide, something of

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<v Speaker 2>a bell weather because they're exposed to a big part

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<v Speaker 2>of the global economy. Volumes also hit by the expiration

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<v Speaker 2>of the contract to carry packages for the US Postal Service.

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<v Speaker 2>Now Lee Glasgow at Bloomberg Intelligence covers the company. He

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<v Speaker 2>says the tariff proposals, including one to revoke the so

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<v Speaker 2>called deminimous exemption for low value shipments, that made package

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<v Speaker 2>demand at profits especially difficult for FEDEC to predict. I

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<v Speaker 2>love this, he says. Quote they throw a number out

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<v Speaker 2>there and just are hoping for the best at this point.

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<v Speaker 3>That is Lee clascal cynicism at its best, which I love.

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<v Speaker 3>That's one of the reasons I hired him to take

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<v Speaker 3>the company line.

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<v Speaker 2>Another earning story Nike, The comeback there looks like it

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<v Speaker 2>just stumbled, the company signaling further declines in revenue and profitability.

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<v Speaker 2>The company trying to clear out old inventory through heavy discounting,

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<v Speaker 2>but inventory levels remain elevated across all categories, they say

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<v Speaker 2>in the gross margin expended to decline sharply in the

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<v Speaker 2>current quarter, demands fading for some of the biggest sneaker franchises.

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<v Speaker 2>Nike also cites a backdrop of weak consumer spending it

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<v Speaker 2>and fallout from the trade war. You got to wonder,

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<v Speaker 2>like in past, when a lot of companies blame the

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<v Speaker 2>weather or something like that, if that's going to fall

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<v Speaker 2>under the category of the trade.

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<v Speaker 1>War as well. It's easy.

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<v Speaker 2>It's a easy excuse. It might be legitimate too. Up next,

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<v Speaker 2>the ticker symbol m S G S there two because

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<v Speaker 2>there's msg S and MSG.

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<v Speaker 3>The Dolan family has a control.

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<v Speaker 2>Stock Madison Square Gardens Sports. So after the Celtics, that's

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<v Speaker 2>staggering six point one billion dollars sale. We asked the question,

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<v Speaker 2>how does that impact the value of other NBA teams,

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<v Speaker 2>and the Knicks were the only one that come close

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<v Speaker 2>to being publicly traded. MSGS also covers the Rangers as well,

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<v Speaker 2>so they're actually part of the Madison Square Gardens Sports.

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<v Speaker 2>The shares jumped to the trading volume also searched on

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<v Speaker 2>that news.

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<v Speaker 3>Well, it's got an enterprise value five point seven billion

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<v Speaker 3>dollars MSG, and that's got to be way higher than

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<v Speaker 3>Celtics because a it's New York and be you get

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<v Speaker 3>the building the world's most famous.

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<v Speaker 1>Arun's it I mean kudas to wick Resspec and the

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<v Speaker 1>team at Bob Boston. I mean they purchased that team

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<v Speaker 1>in two thousand and two for three hundred and sixty

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<v Speaker 1>million dollars and now it's six point one seventeen x.

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<v Speaker 2>What's the most valuable sports franchise, Cowboys? Yeah, by far,

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<v Speaker 2>Like that's like over ten billion. Question.

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<v Speaker 1>Yeah. The Stock Movers podcast from Bloomberg Radio. Check back

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