1 00:00:00,080 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,760 --> 00:00:18,960 Speaker 2: Let's take a look at some stocks on the move today. 5 00:00:19,160 --> 00:00:22,800 Speaker 2: I'm Tim King with Paul Sweeney and Bloomberg's John Tucker. 6 00:00:23,360 --> 00:00:26,680 Speaker 3: Another court victory for a big tech This is actually 7 00:00:26,720 --> 00:00:29,920 Speaker 3: the biggest anti trust case in three decades, So Google, 8 00:00:30,320 --> 00:00:33,280 Speaker 3: this is the big news. Avoiding a breakup. Andro judge 9 00:00:33,320 --> 00:00:37,159 Speaker 3: ruled against the government's most onerous proposals that would have 10 00:00:37,159 --> 00:00:40,320 Speaker 3: included a forced sale of the Chrome browser. This is 11 00:00:40,400 --> 00:00:43,440 Speaker 3: Judge Ahmedmana singing in his meta is saying, it is 12 00:00:43,520 --> 00:00:47,800 Speaker 3: ruling that AI models represent a long term threat to 13 00:00:47,840 --> 00:00:51,159 Speaker 3: the search industry. So you have chatbots and other generative 14 00:00:51,280 --> 00:00:55,639 Speaker 3: AI technologies, thank you, more advanced, and they are kind 15 00:00:55,680 --> 00:00:57,760 Speaker 3: of de facto search engines AI. 16 00:00:58,000 --> 00:01:01,040 Speaker 2: They are I'm living it. But if AI didn't exist, Paul, 17 00:01:01,080 --> 00:01:02,480 Speaker 2: would it have been a different ruling. 18 00:01:02,680 --> 00:01:05,759 Speaker 4: I think it might have been because this is pretty moderate. 19 00:01:05,880 --> 00:01:07,760 Speaker 4: I think in the markets reacting as strong. 20 00:01:08,200 --> 00:01:11,679 Speaker 2: Are you using Google search less? I'm clicking less. 21 00:01:11,680 --> 00:01:13,720 Speaker 4: I'm not looking at you, John, because I know you 22 00:01:13,840 --> 00:01:18,600 Speaker 4: never look at it, I am clicking on fewer links. Yes, yes, anyway, 23 00:01:19,160 --> 00:01:22,120 Speaker 4: big setback for the government, the bid to curb the 24 00:01:22,160 --> 00:01:24,000 Speaker 4: power of the biggest US tech companies. 25 00:01:24,160 --> 00:01:28,679 Speaker 3: It's interesting, Jen Ree compare and contrast this administration with 26 00:01:28,880 --> 00:01:33,000 Speaker 3: previous administrations. There is no let up, as she points out, 27 00:01:33,120 --> 00:01:36,440 Speaker 3: in anti trust activities by this administration, you wo had 28 00:01:36,520 --> 00:01:40,880 Speaker 3: thought it was going to be regulation light. Google will 29 00:01:40,920 --> 00:01:44,240 Speaker 3: still be allowed to pay its partners. So this represents 30 00:01:44,360 --> 00:01:48,400 Speaker 3: pretty much a keywin for Apple, which has received about 31 00:01:48,440 --> 00:01:51,680 Speaker 3: twenty billion dollars a year from making Google Search the 32 00:01:51,840 --> 00:01:57,360 Speaker 3: default on their iPhones. Moving right along, customers still spending 33 00:01:57,440 --> 00:02:01,000 Speaker 3: despite concerns about inflation and tires, and we're seeing that 34 00:02:01,080 --> 00:02:04,520 Speaker 3: in the results posted this morning by Macy's, the second 35 00:02:04,560 --> 00:02:09,560 Speaker 3: quarter earnings topping the street expectations. So Macy's also raising 36 00:02:09,760 --> 00:02:12,880 Speaker 3: the full year earnings and sales guidance. They are setting 37 00:02:13,000 --> 00:02:16,960 Speaker 3: strength across the company. H They now expect net sales 38 00:02:17,000 --> 00:02:19,120 Speaker 3: of as much as twenty one point four or five 39 00:02:19,360 --> 00:02:23,040 Speaker 3: billion dollars for this fiscal year, so that's up slightly 40 00:02:23,080 --> 00:02:27,400 Speaker 3: from the previous guidance. Macy's owns Bloomingdale's across the street 41 00:02:27,400 --> 00:02:31,520 Speaker 3: there and Bloo Mercury. The company also highlighted strong performance 42 00:02:31,560 --> 00:02:35,440 Speaker 3: from Bloomy's Blue Mercury and the one hundred and twenty 43 00:02:35,480 --> 00:02:40,120 Speaker 3: five stores that Macy's has targeted for upgrades. 44 00:02:40,880 --> 00:02:44,440 Speaker 2: The Yeah, they're they're they're like really working at it. 45 00:02:44,639 --> 00:02:46,160 Speaker 3: They're trying, they're trying. 46 00:02:46,639 --> 00:02:49,400 Speaker 2: What's your take on this? I mean to me, I mean, 47 00:02:49,520 --> 00:02:53,560 Speaker 2: Amazon just becomes more, ever more, ever more, ever more dominant. 48 00:02:53,800 --> 00:02:57,000 Speaker 3: Well that's true, A mean for the rest of them. 49 00:02:56,880 --> 00:03:01,040 Speaker 4: I know, but the rekillers have op to this omni 50 00:03:01,120 --> 00:03:04,360 Speaker 4: channel thing where they do you think online, you come in, 51 00:03:04,400 --> 00:03:06,000 Speaker 4: you order it online, you come in, you pick it up. 52 00:03:06,280 --> 00:03:06,840 Speaker 2: It is working. 53 00:03:06,960 --> 00:03:09,440 Speaker 3: I think every time I think of Macy's, I think 54 00:03:09,480 --> 00:03:15,640 Speaker 3: of Howard Dvidowitz. Remember Macy's dead. Do what I missed 55 00:03:15,639 --> 00:03:17,200 Speaker 3: that memory? 56 00:03:17,280 --> 00:03:20,200 Speaker 2: Folks with John Tucky. You got one more. It's a coffee. 57 00:03:20,520 --> 00:03:25,840 Speaker 3: Starbucks launching protein boosted lates and cold foam in the 58 00:03:26,000 --> 00:03:29,360 Speaker 3: US and Canada. This is going to be September twenty ninth, 59 00:03:29,880 --> 00:03:32,720 Speaker 3: part of the menu Modern. I don't know what the 60 00:03:32,800 --> 00:03:37,320 Speaker 3: hell this is cold foam anyway, it's. 61 00:03:37,160 --> 00:03:40,080 Speaker 4: Protein lattes cold foam in menu Push. 62 00:03:40,160 --> 00:03:43,320 Speaker 3: You'll recall. Back in early June they started to trial 63 00:03:43,440 --> 00:03:46,320 Speaker 3: featuring a sugar free vanilla latte top with a protein 64 00:03:46,400 --> 00:03:50,000 Speaker 3: banana cold foam. The company says it's looking to make 65 00:03:50,040 --> 00:03:54,960 Speaker 3: its menu relevant, modern and premium. The new protein drinks 66 00:03:55,000 --> 00:03:58,520 Speaker 3: will have at least fifteen grams of protein that will 67 00:03:58,520 --> 00:04:01,400 Speaker 3: come from a powder. They want to make a name 68 00:04:01,520 --> 00:04:06,080 Speaker 3: for themselves in the health and wellness category, customers apparently 69 00:04:06,120 --> 00:04:08,720 Speaker 3: looking to lower the sugar intake and get more out 70 00:04:08,720 --> 00:04:14,400 Speaker 3: of their beverages than just the fifty. It doesn't say 71 00:04:14,400 --> 00:04:16,760 Speaker 3: how much this is going to cost, though, I could just. 72 00:04:16,720 --> 00:04:20,120 Speaker 2: Imagine we you know, that's a different report, don't we 73 00:04:20,120 --> 00:04:22,360 Speaker 2: get from Lisa? Yeah, I mean Lisa would not have. 74 00:04:22,279 --> 00:04:24,400 Speaker 4: Done She would not have done the Starbucks. 75 00:04:24,440 --> 00:04:26,240 Speaker 2: I'm bold, you know, innovative. 76 00:04:27,760 --> 00:04:31,760 Speaker 1: This stock Movers report from Bloomberg Radio. Check back with 77 00:04:31,880 --> 00:04:34,440 Speaker 1: us throughout the day for the latest roundup of companies 78 00:04:34,520 --> 00:04:37,599 Speaker 1: making news on Wall Street and for the latest market 79 00:04:37,640 --> 00:04:42,120 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 80 00:04:42,200 --> 00:04:45,680 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 81 00:04:45,760 --> 00:04:47,239 Speaker 1: the Bloomberg Business app.