WEBVTT - FedEx Earnings; Intel Downgrade; Tesla Upgrade

0:00:02.520 --> 0:00:08.720
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

0:00:08.720 --> 0:00:12.560
<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

0:00:12.600 --> 0:00:15.880
<v Speaker 2>the stock market, harnessing the power of Bloomberg data.

0:00:16.920 --> 0:00:18.799
<v Speaker 1>Let's take a look at some stocks on the move today.

0:00:18.800 --> 0:00:22.000
<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Valerie Titel on a

0:00:22.040 --> 0:00:25.320
<v Speaker 1>morning where the broader indexes aren't moving a whole lot, Valerie,

0:00:25.360 --> 0:00:28.000
<v Speaker 1>but will you take a look at the micro Wow,

0:00:28.080 --> 0:00:32.680
<v Speaker 1>look at FedEx. A positive sign here perhaps on how

0:00:32.760 --> 0:00:35.680
<v Speaker 1>people are feeling about the earnings and maybe the broader

0:00:35.720 --> 0:00:37.800
<v Speaker 1>economy as well. Good morning, It's.

0:00:37.680 --> 0:00:41.960
<v Speaker 3>Really delivering in its earnings yesterday you went there five

0:00:42.040 --> 0:00:45.040
<v Speaker 3>and a half percent. So far in pre market trade,

0:00:45.040 --> 0:00:47.599
<v Speaker 3>it's even lifting the shares of ups as well. Those

0:00:47.600 --> 0:00:50.720
<v Speaker 3>are up nearly two percent. What FedEx did was they

0:00:50.760 --> 0:00:54.520
<v Speaker 3>offset a potential concern about the tariff hit with a

0:00:54.560 --> 0:00:58.360
<v Speaker 3>pretty solid guidance so on the week side. The CFO

0:00:58.440 --> 0:01:00.800
<v Speaker 3>did say in the earnings call that fed will suffer

0:01:00.840 --> 0:01:03.800
<v Speaker 3>a one billion dollar hit from trade volatility this year,

0:01:04.160 --> 0:01:06.480
<v Speaker 3>highlighting the impact of tariffs and the ending of the

0:01:06.520 --> 0:01:10.320
<v Speaker 3>deminimous rule. But FedEx is still doing all right offsetting

0:01:10.360 --> 0:01:13.600
<v Speaker 3>that hit. They gave a decent guidance on sales, expect

0:01:13.640 --> 0:01:15.840
<v Speaker 3>sales to rise around six percent into the end of

0:01:15.880 --> 0:01:19.039
<v Speaker 3>the year, and they also reinstated their full year outlook,

0:01:19.040 --> 0:01:21.680
<v Speaker 3>and it gave a sign to investors that FedEx is

0:01:21.720 --> 0:01:24.720
<v Speaker 3>gaining growing clarity about the shipping business ahead of the

0:01:24.720 --> 0:01:25.839
<v Speaker 3>busy holiday season.

0:01:26.080 --> 0:01:28.480
<v Speaker 1>All right, so if we're sticking with cliches here on

0:01:28.480 --> 0:01:31.640
<v Speaker 1>the earnings, let's talk about Lenar and how it's kind

0:01:31.640 --> 0:01:33.440
<v Speaker 1>of getting dismantled this morning.

0:01:34.280 --> 0:01:37.119
<v Speaker 3>Lennar is a home builder and it is down three

0:01:37.200 --> 0:01:40.120
<v Speaker 3>percent so far in pre market trade. This is after

0:01:40.560 --> 0:01:45.080
<v Speaker 3>its earnings. The forecast for home orders missed estimates. They

0:01:45.120 --> 0:01:49.160
<v Speaker 3>cited affordability concerns and the wavering job market as for

0:01:49.240 --> 0:01:53.160
<v Speaker 3>their potential week guidance on orders, and it's disappointing to

0:01:53.320 --> 0:01:56.280
<v Speaker 3>investors as well, on the back of the fact that

0:01:56.320 --> 0:01:59.040
<v Speaker 3>there's been a recent drop in mortgage rates, they're now

0:01:59.160 --> 0:02:01.320
<v Speaker 3>at their lowest line level in almost a year, and

0:02:01.320 --> 0:02:04.000
<v Speaker 3>it still wasn't enough, I guess, to help boost what

0:02:04.120 --> 0:02:06.960
<v Speaker 3>Lennard saw as home orders for the final.

0:02:06.720 --> 0:02:07.600
<v Speaker 1>Quarter of the year.

0:02:07.880 --> 0:02:09.679
<v Speaker 3>So this home builder that is listed in the S

0:02:09.760 --> 0:02:11.800
<v Speaker 3>and P five hundred is down nearly three percent so

0:02:11.880 --> 0:02:12.520
<v Speaker 3>far this morning.

0:02:12.720 --> 0:02:14.840
<v Speaker 1>All right, let's talk about Intel. Of course, we got

0:02:14.840 --> 0:02:19.120
<v Speaker 1>that huge news on Nvidia yesterday that looks like that

0:02:19.200 --> 0:02:21.200
<v Speaker 1>stock might be fading just a bit this morning.

0:02:21.400 --> 0:02:22.919
<v Speaker 3>Yeah, just a bit. I mean, we have to say

0:02:22.919 --> 0:02:25.440
<v Speaker 3>it was of twenty two percent yesterday. It's only down

0:02:25.520 --> 0:02:28.919
<v Speaker 3>one percent today, so that's pretty much an achievement in itself.

0:02:29.000 --> 0:02:33.040
<v Speaker 3>But they did get downgraded from City. Their analysts are

0:02:33.040 --> 0:02:35.960
<v Speaker 3>worried about its valuation. It is trading at the moment

0:02:36.000 --> 0:02:39.200
<v Speaker 3>at fifty seven times forward earnings, which is nearly double

0:02:39.240 --> 0:02:42.400
<v Speaker 3>that of Nvidia. So yes, the valuations have gone out

0:02:42.440 --> 0:02:46.000
<v Speaker 3>of whack, but it's had, you know, an investment from Navidia,

0:02:46.040 --> 0:02:50.079
<v Speaker 3>an investment from the US government, and really since the

0:02:50.160 --> 0:02:53.320
<v Speaker 3>CEO of Intel sat down with President Trump on the

0:02:53.360 --> 0:02:56.040
<v Speaker 3>eleventh of August, the stock is up nearly fifty percent.

0:02:56.120 --> 0:02:59.040
<v Speaker 3>So yes, it has had a great run. Valuations do

0:02:59.160 --> 0:03:01.080
<v Speaker 3>look stretched, but there's a lot of promise in this

0:03:01.160 --> 0:03:02.480
<v Speaker 3>company's turnaround now.

0:03:02.560 --> 0:03:06.919
<v Speaker 1>And apparently some analysts still see promise in Tesla. Tell

0:03:07.000 --> 0:03:07.840
<v Speaker 1>us about the upgrade.

0:03:08.040 --> 0:03:11.480
<v Speaker 3>Yeah, Tesla leading the gains in the mag seven today

0:03:11.560 --> 0:03:14.600
<v Speaker 3>after quite a decent rally for tech yesterday. Tesla's up

0:03:14.639 --> 0:03:18.440
<v Speaker 3>one point two percent. They were upgraded from Baird Now.

0:03:18.480 --> 0:03:22.320
<v Speaker 3>It's the analysts are turning more positive on their AI

0:03:22.560 --> 0:03:25.519
<v Speaker 3>potential when it comes to their physical uses of AI,

0:03:25.639 --> 0:03:29.160
<v Speaker 3>implementing it in their robotaxis, their self driving cars and

0:03:29.200 --> 0:03:31.679
<v Speaker 3>their humanoid robots. So Tesla is in the green of

0:03:31.800 --> 0:03:33.800
<v Speaker 3>one point two percent. And while we're on the mag seven,

0:03:33.840 --> 0:03:36.120
<v Speaker 3>I do want to mention the Apple's doing pretty well

0:03:36.120 --> 0:03:38.240
<v Speaker 3>this morning. It's up six tens of one percent. There's

0:03:38.280 --> 0:03:42.400
<v Speaker 3>some early reporting that their iPhone seventeen sales across Asia

0:03:42.400 --> 0:03:44.560
<v Speaker 3>are showing strong demand for the pro models.

0:03:45.760 --> 0:03:49.800
<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

0:03:49.880 --> 0:03:52.440
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:52.520 --> 0:03:55.600
<v Speaker 2>making news on Wall Street and for the latest market

0:03:55.640 --> 0:04:00.200
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:00.240 --> 0:04:03.720
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:03.800 --> 0:04:09.920
<v Speaker 2>the Bloomberg Business app MHM