1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:18,079 Speaker 2: the stock market, harnessing the power of Bloomberg Data. Let's 4 00:00:18,120 --> 00:00:20,320 Speaker 2: take some stocks on the move today. I'm Paul Swiney 5 00:00:20,320 --> 00:00:23,120 Speaker 2: with Alex Steele, and we're joined by Bloomberg's Christina Keen 6 00:00:23,160 --> 00:00:24,240 Speaker 2: or Christine, what are you looking at it? 7 00:00:24,400 --> 00:00:25,720 Speaker 1: Well, Paul, we're going to have to take a look 8 00:00:25,760 --> 00:00:28,080 Speaker 1: at those drug makers, aren't we, because of that executive 9 00:00:28,160 --> 00:00:31,720 Speaker 1: order that President Donald Trump said he's going to be signing, 10 00:00:32,360 --> 00:00:34,879 Speaker 1: taking a look at fiders specifically. That's actually up more 11 00:00:34,920 --> 00:00:38,800 Speaker 1: than two percent at the moment. Pre market losses there 12 00:00:38,840 --> 00:00:41,599 Speaker 1: a little bit, but definitely reversing those. I think this 13 00:00:41,640 --> 00:00:43,519 Speaker 1: is because we did get a little bit of a 14 00:00:43,560 --> 00:00:46,160 Speaker 1: steer on what President Trump is going to be doing 15 00:00:46,200 --> 00:00:50,760 Speaker 1: on this. He posted on his social media account earlier 16 00:00:50,880 --> 00:00:53,680 Speaker 1: that there will be cuts of quote fifty nine percent 17 00:00:53,720 --> 00:00:56,800 Speaker 1: plus in terms of prices. But investors also digesting some 18 00:00:56,840 --> 00:00:59,160 Speaker 1: of the details. Looks like the focus is going to 19 00:00:59,200 --> 00:01:01,920 Speaker 1: be primarily on care and weight loss drugs, so perhaps 20 00:01:02,200 --> 00:01:04,880 Speaker 1: less broad than some investors were anticipating, and so we're 21 00:01:04,880 --> 00:01:07,520 Speaker 1: seeing a bit of a gain on Pfizer shares and 22 00:01:07,760 --> 00:01:08,960 Speaker 1: other related stocks. 23 00:01:09,040 --> 00:01:11,160 Speaker 2: Well also just you know, you know, it's an opening salvo. 24 00:01:11,360 --> 00:01:14,200 Speaker 2: So if that's the opening it's not as bad as expected, then. 25 00:01:14,319 --> 00:01:16,119 Speaker 1: Maybe that winds up helping just the theme. 26 00:01:16,160 --> 00:01:17,559 Speaker 2: You're also looking at best Buy. 27 00:01:18,000 --> 00:01:20,160 Speaker 1: Yes, that's going on here best Buy. Well, you know 28 00:01:20,400 --> 00:01:24,480 Speaker 1: that is one of the key beneficiaries of those successful 29 00:01:25,080 --> 00:01:28,120 Speaker 1: weekend talks between US and China, or at least signs 30 00:01:28,160 --> 00:01:30,840 Speaker 1: of improved relations between the two countries. Best Buy, of course, 31 00:01:31,440 --> 00:01:34,400 Speaker 1: you know, one of the retailers in the US are 32 00:01:34,440 --> 00:01:38,880 Speaker 1: primarily exposed to those imports from China potentially dropping off 33 00:01:38,880 --> 00:01:42,760 Speaker 1: it or becoming more costly moilving intelligence analysts saying that, 34 00:01:42,880 --> 00:01:46,160 Speaker 1: you know, because retailers were entering the year holding less 35 00:01:46,160 --> 00:01:49,200 Speaker 1: than one percent or one percent less of inventory than 36 00:01:49,240 --> 00:01:51,720 Speaker 1: they had over the past three years. Best Buy among 37 00:01:51,760 --> 00:01:55,000 Speaker 1: the retailers, would really have been exposed if we did 38 00:01:55,040 --> 00:01:57,800 Speaker 1: get an effective trade embargo between the US and China. 39 00:01:57,880 --> 00:02:00,440 Speaker 1: But looks like that's going to be less the case now, 40 00:02:00,560 --> 00:02:03,240 Speaker 1: more quarter relations at least between the two countries. We'll 41 00:02:03,240 --> 00:02:07,360 Speaker 1: see if we can get a deal that has details 42 00:02:07,440 --> 00:02:11,880 Speaker 1: that offer the same sort of reassurance to investors. All right, 43 00:02:11,880 --> 00:02:15,240 Speaker 1: what else we got here? Looking at Nike as well, Paul, 44 00:02:15,360 --> 00:02:18,720 Speaker 1: that is up at the moment more than six percent. Again, 45 00:02:18,760 --> 00:02:23,040 Speaker 1: another beneficiary it was US China talks. Note that half 46 00:02:23,080 --> 00:02:27,240 Speaker 1: of Nike's shoes are made in Vietnam. But the overall 47 00:02:27,280 --> 00:02:30,440 Speaker 1: trade optimism is helping because of course, you know, we 48 00:02:30,520 --> 00:02:33,320 Speaker 1: were also off the back of the US striking a 49 00:02:33,400 --> 00:02:37,200 Speaker 1: deal with the UK, and you know, Nike definitely struggling 50 00:02:37,200 --> 00:02:40,119 Speaker 1: in other aspects as well. We have seen last week 51 00:02:40,160 --> 00:02:43,639 Speaker 1: the company announcing changes to its senior leadership team, and 52 00:02:43,960 --> 00:02:46,480 Speaker 1: last April, Nike was also all the companies that called 53 00:02:46,520 --> 00:02:49,800 Speaker 1: on President Trump to exempt footwear from tariff. So the 54 00:02:49,800 --> 00:02:52,919 Speaker 1: fact that there seems to be more trade optimism definitely 55 00:02:52,919 --> 00:02:53,880 Speaker 1: good news for a Nike. 56 00:02:53,800 --> 00:02:59,400 Speaker 2: For today the Stock Movers podcast from Bloomberg Radio. Check 57 00:02:59,440 --> 00:03:01,960 Speaker 2: back with us throughout the day for the latest roundup 58 00:03:02,000 --> 00:03:04,840 Speaker 2: of companies making news on Wall Street and for the 59 00:03:04,919 --> 00:03:09,320 Speaker 2: latest market moving headlines. Listen to Bloomberg Radio Live, catch 60 00:03:09,360 --> 00:03:12,480 Speaker 2: us on YouTube, Bloomberg dot com, and on Applecarplay and 61 00:03:12,480 --> 00:03:14,919 Speaker 2: Android Auto with the Bloomberg Business app.