WEBVTT - Macy's Reports; Google Ruling Boosts Tech; Starbucks Announcement

0:00:00.080 --> 0:00:09.960
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

0:00:10.280 --> 0:00:13.440
<v Speaker 1>your roundup of companies making moves in the stock market

0:00:13.680 --> 0:00:15.880
<v Speaker 1>harnessing the power of Bloomberg Data.

0:00:16.760 --> 0:00:18.960
<v Speaker 2>Let's take a look at some stocks on the move today.

0:00:19.160 --> 0:00:22.800
<v Speaker 2>I'm Tim King with Paul Sweeney and Bloomberg's John Tucker.

0:00:23.360 --> 0:00:26.680
<v Speaker 3>Another court victory for a big tech This is actually

0:00:26.720 --> 0:00:29.920
<v Speaker 3>the biggest anti trust case in three decades, So Google,

0:00:30.320 --> 0:00:33.280
<v Speaker 3>this is the big news. Avoiding a breakup. Andro judge

0:00:33.320 --> 0:00:37.159
<v Speaker 3>ruled against the government's most onerous proposals that would have

0:00:37.159 --> 0:00:40.320
<v Speaker 3>included a forced sale of the Chrome browser. This is

0:00:40.400 --> 0:00:43.440
<v Speaker 3>Judge Ahmedmana singing in his meta is saying, it is

0:00:43.520 --> 0:00:47.800
<v Speaker 3>ruling that AI models represent a long term threat to

0:00:47.840 --> 0:00:51.159
<v Speaker 3>the search industry. So you have chatbots and other generative

0:00:51.280 --> 0:00:55.639
<v Speaker 3>AI technologies, thank you, more advanced, and they are kind

0:00:55.680 --> 0:00:57.760
<v Speaker 3>of de facto search engines AI.

0:00:58.000 --> 0:01:01.040
<v Speaker 2>They are I'm living it. But if AI didn't exist, Paul,

0:01:01.080 --> 0:01:02.480
<v Speaker 2>would it have been a different ruling.

0:01:02.680 --> 0:01:05.759
<v Speaker 4>I think it might have been because this is pretty moderate.

0:01:05.880 --> 0:01:07.760
<v Speaker 4>I think in the markets reacting as strong.

0:01:08.200 --> 0:01:11.679
<v Speaker 2>Are you using Google search less? I'm clicking less.

0:01:11.680 --> 0:01:13.720
<v Speaker 4>I'm not looking at you, John, because I know you

0:01:13.840 --> 0:01:18.600
<v Speaker 4>never look at it, I am clicking on fewer links. Yes, yes, anyway,

0:01:19.160 --> 0:01:22.120
<v Speaker 4>big setback for the government, the bid to curb the

0:01:22.160 --> 0:01:24.000
<v Speaker 4>power of the biggest US tech companies.

0:01:24.160 --> 0:01:28.679
<v Speaker 3>It's interesting, Jen Ree compare and contrast this administration with

0:01:28.880 --> 0:01:33.000
<v Speaker 3>previous administrations. There is no let up, as she points out,

0:01:33.120 --> 0:01:36.440
<v Speaker 3>in anti trust activities by this administration, you wo had

0:01:36.520 --> 0:01:40.880
<v Speaker 3>thought it was going to be regulation light. Google will

0:01:40.920 --> 0:01:44.240
<v Speaker 3>still be allowed to pay its partners. So this represents

0:01:44.360 --> 0:01:48.400
<v Speaker 3>pretty much a keywin for Apple, which has received about

0:01:48.440 --> 0:01:51.680
<v Speaker 3>twenty billion dollars a year from making Google Search the

0:01:51.840 --> 0:01:57.360
<v Speaker 3>default on their iPhones. Moving right along, customers still spending

0:01:57.440 --> 0:02:01.000
<v Speaker 3>despite concerns about inflation and tires, and we're seeing that

0:02:01.080 --> 0:02:04.520
<v Speaker 3>in the results posted this morning by Macy's, the second

0:02:04.560 --> 0:02:09.560
<v Speaker 3>quarter earnings topping the street expectations. So Macy's also raising

0:02:09.760 --> 0:02:12.880
<v Speaker 3>the full year earnings and sales guidance. They are setting

0:02:13.000 --> 0:02:16.960
<v Speaker 3>strength across the company. H They now expect net sales

0:02:17.000 --> 0:02:19.120
<v Speaker 3>of as much as twenty one point four or five

0:02:19.360 --> 0:02:23.040
<v Speaker 3>billion dollars for this fiscal year, so that's up slightly

0:02:23.080 --> 0:02:27.400
<v Speaker 3>from the previous guidance. Macy's owns Bloomingdale's across the street

0:02:27.400 --> 0:02:31.520
<v Speaker 3>there and Bloo Mercury. The company also highlighted strong performance

0:02:31.560 --> 0:02:35.440
<v Speaker 3>from Bloomy's Blue Mercury and the one hundred and twenty

0:02:35.480 --> 0:02:40.120
<v Speaker 3>five stores that Macy's has targeted for upgrades.

0:02:40.880 --> 0:02:44.440
<v Speaker 2>The Yeah, they're they're they're like really working at it.

0:02:44.639 --> 0:02:46.160
<v Speaker 3>They're trying, they're trying.

0:02:46.639 --> 0:02:49.400
<v Speaker 2>What's your take on this? I mean to me, I mean,

0:02:49.520 --> 0:02:53.560
<v Speaker 2>Amazon just becomes more, ever more, ever more, ever more dominant.

0:02:53.800 --> 0:02:57.000
<v Speaker 3>Well that's true, A mean for the rest of them.

0:02:56.880 --> 0:03:01.040
<v Speaker 4>I know, but the rekillers have op to this omni

0:03:01.120 --> 0:03:04.360
<v Speaker 4>channel thing where they do you think online, you come in,

0:03:04.400 --> 0:03:06.000
<v Speaker 4>you order it online, you come in, you pick it up.

0:03:06.280 --> 0:03:06.840
<v Speaker 2>It is working.

0:03:06.960 --> 0:03:09.440
<v Speaker 3>I think every time I think of Macy's, I think

0:03:09.480 --> 0:03:15.640
<v Speaker 3>of Howard Dvidowitz. Remember Macy's dead. Do what I missed

0:03:15.639 --> 0:03:17.200
<v Speaker 3>that memory?

0:03:17.280 --> 0:03:20.200
<v Speaker 2>Folks with John Tucky. You got one more. It's a coffee.

0:03:20.520 --> 0:03:25.840
<v Speaker 3>Starbucks launching protein boosted lates and cold foam in the

0:03:26.000 --> 0:03:29.360
<v Speaker 3>US and Canada. This is going to be September twenty ninth,

0:03:29.880 --> 0:03:32.720
<v Speaker 3>part of the menu Modern. I don't know what the

0:03:32.800 --> 0:03:37.320
<v Speaker 3>hell this is cold foam anyway, it's.

0:03:37.160 --> 0:03:40.080
<v Speaker 4>Protein lattes cold foam in menu Push.

0:03:40.160 --> 0:03:43.320
<v Speaker 3>You'll recall. Back in early June they started to trial

0:03:43.440 --> 0:03:46.320
<v Speaker 3>featuring a sugar free vanilla latte top with a protein

0:03:46.400 --> 0:03:50.000
<v Speaker 3>banana cold foam. The company says it's looking to make

0:03:50.040 --> 0:03:54.960
<v Speaker 3>its menu relevant, modern and premium. The new protein drinks

0:03:55.000 --> 0:03:58.520
<v Speaker 3>will have at least fifteen grams of protein that will

0:03:58.520 --> 0:04:01.400
<v Speaker 3>come from a powder. They want to make a name

0:04:01.520 --> 0:04:06.080
<v Speaker 3>for themselves in the health and wellness category, customers apparently

0:04:06.120 --> 0:04:08.720
<v Speaker 3>looking to lower the sugar intake and get more out

0:04:08.720 --> 0:04:14.400
<v Speaker 3>of their beverages than just the fifty. It doesn't say

0:04:14.400 --> 0:04:16.760
<v Speaker 3>how much this is going to cost, though, I could just.

0:04:16.720 --> 0:04:20.120
<v Speaker 2>Imagine we you know, that's a different report, don't we

0:04:20.120 --> 0:04:22.360
<v Speaker 2>get from Lisa? Yeah, I mean Lisa would not have.

0:04:22.279 --> 0:04:24.400
<v Speaker 4>Done She would not have done the Starbucks.

0:04:24.440 --> 0:04:26.240
<v Speaker 2>I'm bold, you know, innovative.

0:04:27.760 --> 0:04:31.760
<v Speaker 1>This stock Movers report from Bloomberg Radio. Check back with

0:04:31.880 --> 0:04:34.440
<v Speaker 1>us throughout the day for the latest roundup of companies

0:04:34.520 --> 0:04:37.599
<v Speaker 1>making news on Wall Street and for the latest market

0:04:37.640 --> 0:04:42.120
<v Speaker 1>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:42.200 --> 0:04:45.680
<v Speaker 1>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:45.760 --> 0:04:47.239
<v Speaker 1>the Bloomberg Business app.