1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:18,919 Speaker 1: I'm Carol Messer along with Tim Stenevic. Let's get to 5 00:00:19,040 --> 00:00:21,520 Speaker 1: some stocks on the move on this Wednesday. Joining us 6 00:00:21,520 --> 00:00:23,880 Speaker 1: to do that. Bloomberg News CROSSUSET reporter Isabelle Lee. She 7 00:00:24,079 --> 00:00:25,280 Speaker 1: is in the house. 8 00:00:26,040 --> 00:00:30,080 Speaker 3: Hi, it's April. It's already this month, April fools. But 9 00:00:30,200 --> 00:00:32,879 Speaker 3: I won't be saying much of a joke. I'm going 10 00:00:32,920 --> 00:00:35,160 Speaker 3: to start it with Nike. I tried my best. 11 00:00:35,240 --> 00:00:38,000 Speaker 1: I tried at the top and at the door. 12 00:00:38,120 --> 00:00:40,840 Speaker 3: Good work with me too, Okay. Nike shares are down 13 00:00:40,960 --> 00:00:43,880 Speaker 3: by fifteen percent, that's the lowest and twenty fourteen, so 14 00:00:44,560 --> 00:00:47,080 Speaker 3: really not a good day. The stock has now fallen 15 00:00:47,159 --> 00:00:50,159 Speaker 3: some thirty percent this year, So the retailer gave a 16 00:00:50,159 --> 00:00:52,040 Speaker 3: gloomy outlook for the rest of the year, and they 17 00:00:52,080 --> 00:00:55,000 Speaker 3: also said revenue is expected to decline some two to 18 00:00:55,120 --> 00:00:59,160 Speaker 3: four percent. Bloomberg Intelligence analysts were obviously expecting for more 19 00:00:59,200 --> 00:01:01,600 Speaker 3: growth two percent sales throws in fact, and a bigger 20 00:01:01,640 --> 00:01:04,640 Speaker 3: gain as a year progress. So Nike has been trying 21 00:01:04,640 --> 00:01:07,360 Speaker 3: to regain market dominance, but it hasn't been panning out. 22 00:01:07,360 --> 00:01:09,959 Speaker 3: It's facing a lot of headwinds. Bloomberg Intelligence point I'm 23 00:01:09,959 --> 00:01:13,080 Speaker 3: Goyel said that the war is likely having an impact 24 00:01:13,480 --> 00:01:16,080 Speaker 3: and the pressures will persist. And there was a call, 25 00:01:16,160 --> 00:01:18,720 Speaker 3: it was a Bloomberg schoop that we got a recording 26 00:01:18,720 --> 00:01:21,240 Speaker 3: of as this is a great yes, the CEO, Elliott 27 00:01:21,319 --> 00:01:23,920 Speaker 3: Hill was like, I'm so tired. I know you are too, 28 00:01:24,160 --> 00:01:28,040 Speaker 3: and I thought that was It's good when a leader 29 00:01:28,120 --> 00:01:29,440 Speaker 3: commisserates with you, right. 30 00:01:29,760 --> 00:01:31,880 Speaker 4: It is, But how do you rally the troops in 31 00:01:31,920 --> 00:01:34,880 Speaker 4: an environment where your stock is at a low not 32 00:01:35,040 --> 00:01:38,080 Speaker 4: seen for ten years and you want to get you 33 00:01:38,120 --> 00:01:39,760 Speaker 4: want to try to create excitement. You want to get 34 00:01:39,800 --> 00:01:42,360 Speaker 4: people excited about the brand, so then they have these 35 00:01:42,400 --> 00:01:46,800 Speaker 4: creative ideas that help them get out of this challenging 36 00:01:46,920 --> 00:01:48,480 Speaker 4: environment that they've been in for so long. 37 00:01:48,840 --> 00:01:51,120 Speaker 3: I guess that's his challenge. Hill took over in twenty 38 00:01:51,160 --> 00:01:53,760 Speaker 3: twenty four and it hasn't been that great since then. 39 00:01:54,120 --> 00:01:57,520 Speaker 3: He does seem like he's a kind and emphatic leader, 40 00:01:57,520 --> 00:01:59,480 Speaker 3: at least judging from the stories we've been reading. But 41 00:01:59,520 --> 00:02:02,480 Speaker 3: we know that's not enough and to your point, what 42 00:02:02,520 --> 00:02:04,480 Speaker 3: are you going to do? Morale is very low. It's 43 00:02:04,520 --> 00:02:07,000 Speaker 3: the lowest since twenty fourteen, so more than a decade. 44 00:02:07,040 --> 00:02:07,200 Speaker 2: Act. 45 00:02:07,320 --> 00:02:09,400 Speaker 1: Well, the CFO says, we're going to be managing costs 46 00:02:09,400 --> 00:02:12,720 Speaker 1: carefully as we've been doing, and so that always is 47 00:02:12,840 --> 00:02:15,480 Speaker 1: a little bit of pressure internally as they try to 48 00:02:15,520 --> 00:02:18,360 Speaker 1: kind of write the ship. So anyway, Hill said, I 49 00:02:18,400 --> 00:02:20,600 Speaker 1: hate to lose, and we've got work to do in 50 00:02:20,639 --> 00:02:21,520 Speaker 1: some of these places. 51 00:02:21,600 --> 00:02:23,680 Speaker 4: Okay, Nike under pressure? What else you got? 52 00:02:24,000 --> 00:02:26,880 Speaker 3: Intel? And now this is a stocking degree and up 53 00:02:26,919 --> 00:02:29,240 Speaker 3: by eight and a half percent. So they're buying a 54 00:02:29,280 --> 00:02:32,880 Speaker 3: steak in an Irish manufacturing plant as part of their 55 00:02:32,880 --> 00:02:35,880 Speaker 3: comeback plan. So they agreed to pay fourteen point two 56 00:02:35,880 --> 00:02:38,520 Speaker 3: billion dollars to buy back half of a plant in 57 00:02:38,560 --> 00:02:41,520 Speaker 3: Ireland that it previously sold to a follow So the 58 00:02:41,560 --> 00:02:44,200 Speaker 3: transaction will be financed in cash on hand and the 59 00:02:44,240 --> 00:02:46,400 Speaker 3: issue once of around six and a half billion in 60 00:02:46,520 --> 00:02:48,520 Speaker 3: new debt. And of course this is expected to add 61 00:02:48,520 --> 00:02:51,760 Speaker 3: to their earnings per share. This is the latest move 62 00:02:51,800 --> 00:02:55,320 Speaker 3: for Intel. You know, I thought, why Ireland. Maybe a 63 00:02:55,360 --> 00:02:57,600 Speaker 3: lot of people know this, but I didn't. But the 64 00:02:57,600 --> 00:03:01,240 Speaker 3: Ireland purchase reflects their glowing growing confidence in the business, 65 00:03:01,280 --> 00:03:05,840 Speaker 3: and AMD and Analog Devices also have locations in Ireland. 66 00:03:05,919 --> 00:03:06,639 Speaker 3: I've never been. 67 00:03:06,600 --> 00:03:09,760 Speaker 1: There's a big tech presence right in its Ireland. They 68 00:03:09,800 --> 00:03:13,480 Speaker 1: do a lot to bring in foreign direct investment and 69 00:03:13,720 --> 00:03:16,360 Speaker 1: some of it. Yeah, they've been very, very supportive of 70 00:03:16,360 --> 00:03:18,840 Speaker 1: companies coming in. Where should we go next? 71 00:03:19,320 --> 00:03:22,520 Speaker 3: Tesla, of course, Elon Musk always in the headlines. Sits 72 00:03:22,639 --> 00:03:25,280 Speaker 3: up by just one point eight percent. Just it's still 73 00:03:25,320 --> 00:03:28,720 Speaker 3: a degree, but it's not great news actually, so I'm 74 00:03:28,760 --> 00:03:31,920 Speaker 3: not sure why this stock is popping there because the 75 00:03:31,960 --> 00:03:34,200 Speaker 3: auto business is likely to just get tougher and tougher. 76 00:03:34,240 --> 00:03:37,480 Speaker 3: For Tesla, they delivered about three hundred and seventy two 77 00:03:37,480 --> 00:03:40,040 Speaker 3: thousand vehicles during the last three months. So yes, this 78 00:03:40,160 --> 00:03:42,960 Speaker 3: is up eleven percent from a year ago, but it's 79 00:03:42,960 --> 00:03:46,200 Speaker 3: still ranks or Wood rank among the lowest in recently 80 00:03:46,360 --> 00:03:49,240 Speaker 3: quarterly totals for the company, and sales early last year, 81 00:03:49,240 --> 00:03:52,080 Speaker 3: as we know, were really affected by the backlash against 82 00:03:52,120 --> 00:03:55,240 Speaker 3: Elon Musk and his participation in the Trump government. And 83 00:03:55,320 --> 00:03:57,000 Speaker 3: of course we also know that there were a production 84 00:03:57,120 --> 00:04:00,880 Speaker 3: process tied to Model Y, which just test lasts most 85 00:04:00,920 --> 00:04:01,880 Speaker 3: popular vehicle. 86 00:04:02,160 --> 00:04:03,800 Speaker 1: I just can't wait till they just like lump it 87 00:04:03,840 --> 00:04:07,680 Speaker 1: all into one thing. Really yeah, yeah, I think right. Yeah. 88 00:04:07,760 --> 00:04:11,360 Speaker 4: I asked Craig Trudell about that earlier today in the UK, 89 00:04:11,440 --> 00:04:14,760 Speaker 4: and he covers the entire Auto istry. He's like, this 90 00:04:14,840 --> 00:04:18,200 Speaker 4: is this is something that you know when when SpaceX 91 00:04:18,839 --> 00:04:21,440 Speaker 4: slash XII slash everything else that's in there goes public. 92 00:04:21,480 --> 00:04:23,080 Speaker 4: That's something that investors are going to be looking for 93 00:04:23,160 --> 00:04:27,480 Speaker 4: because it, you know, the center quote unquote synergies with 94 00:04:27,520 --> 00:04:29,640 Speaker 4: the companies. But there's also like the Elon Musk pay 95 00:04:29,640 --> 00:04:31,400 Speaker 4: package that's tied to market cap. 96 00:04:31,680 --> 00:04:34,679 Speaker 1: Yeah, so I know, it just gets it's always interesting 97 00:04:34,680 --> 00:04:35,919 Speaker 1: if it's Elon, it's interesting. 98 00:04:35,920 --> 00:04:39,200 Speaker 3: It's just it might come true. It might come true soon. 99 00:04:39,240 --> 00:04:41,640 Speaker 3: They confidentially filed for an IPO, which I'm sure you 100 00:04:41,640 --> 00:04:43,440 Speaker 3: guys have been reporting over and over. 101 00:04:43,960 --> 00:04:45,279 Speaker 1: Actually, thank you for doing that. 102 00:04:47,200 --> 00:04:48,280 Speaker 3: No, you're so great, is it? 103 00:04:48,320 --> 00:04:51,200 Speaker 1: Belly Bloomberg News crossus that reporter. 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