WEBVTT - Nike Slips, Verizon Falls on SpaceX Telecom Talks

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data throw.

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<v Speaker 3>Master along with m Stanimak, Let's get to you some

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<v Speaker 3>stocks on the move.

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<v Speaker 1>With us Denisa Saekova, Bloomberg News cross ass that reporter.

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<v Speaker 4>She joins us, I'm so happy to join you, guys.

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<v Speaker 4>Nike is down. We've been talking about twenty.

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<v Speaker 1>First interesting, it's moving as we speak.

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<v Speaker 4>It's moving as you speak after ours, it's the futures.

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<v Speaker 4>It's pretty much twenty four to seven trading. But Nike

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<v Speaker 4>reported earnings after ours. It was better than expected results.

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<v Speaker 4>But still we're seeing a pretty bad reaction in the stocks.

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<v Speaker 4>We're seeing some catious commentary from executives and that was

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<v Speaker 4>enough to trigger It's down more than.

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<v Speaker 3>Three percent, four percent as we speak.

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<v Speaker 4>Oh, down four percent as we speak. Yeah, it tumbled

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<v Speaker 4>a few other percentage points. The stock is declined more

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<v Speaker 4>than thirty six percent this year, so pretty rough start

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<v Speaker 4>of the year. Sales were eleven billion for the fiscal quarters,

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<v Speaker 4>surpassing the average estimate. Earnings for share worth seventy two

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<v Speaker 4>cents far exceeding expectations. So we're seeing all those good

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<v Speaker 4>company fundamentals delivering. But nevertheless, the investors have high bar.

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<v Speaker 4>There has been this big transition for the last two

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<v Speaker 4>years under the CEO, heel and the company has been progressing,

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<v Speaker 4>but there has been so many different confusions and different

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<v Speaker 4>problems that the investors have a pretty high bar.

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<v Speaker 3>Yeah. The CEO yes, indeed, making some comments actually in

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<v Speaker 3>the earning statement, he said that Nike is encouraged by

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<v Speaker 3>progress and products designed for sports. Matt from the company's

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<v Speaker 3>outgoing chief financial officers said the company's efforts to sell

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<v Speaker 3>its products for full price remain challenged.

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<v Speaker 5>Yes, that's a bit endove.

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<v Speaker 4>It says a lot. And they had a lot of controversary.

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<v Speaker 4>They had like a Boston Marathon ad that got pulled,

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<v Speaker 4>then some of the World Cup inventories being hard to

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<v Speaker 4>sell and getting that comment as well as full price

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<v Speaker 4>items are hard to sell. You know, there are a

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<v Speaker 4>lot of pressures, a lot of controversies.

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<v Speaker 1>Those Team us A Jersey are moving quickly though, and

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<v Speaker 1>those are Nike. I guess Pul of Bloomberg Intelligence saying

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<v Speaker 1>on Bloomberg Intelligence earlier today, well, talking about the China

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<v Speaker 1>story ahead of these earnings, but there are questions about it.

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<v Speaker 1>Are they going to still have an investor day given

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<v Speaker 1>that there's a new CFO. Well that's interesting the investor day.

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<v Speaker 1>I don't know if they've announced anything yet. I didn't

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<v Speaker 1>see it in the terminal yet.

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<v Speaker 3>I didn't see an announcement for that, not yet, so stand.

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<v Speaker 1>By, okay the next I'm obsessed with this story, and

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<v Speaker 1>I think everybody who has a smartphone, yes, yes, yes, yes,

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<v Speaker 1>there could be some competition.

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<v Speaker 4>There could be competition for Verizon Communications and AT and T.

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<v Speaker 4>The stocks were down. Verizon VZ is the ticker was

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<v Speaker 4>down three percent today. At and T the ticker is

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<v Speaker 4>T is down five percent today, and it's coming off

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<v Speaker 4>news from SpaceX. SpaceX held executive level talks about partnering

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<v Speaker 4>on a consumer mobile fine offering. You know, SpaceX has

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<v Speaker 4>been really disrupting a lot of like the wireless business,

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<v Speaker 4>and I'm sure Elon disrupting. He is disrupting a right

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<v Speaker 4>look a look at the stock price. So Charter, the

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<v Speaker 4>largest home internet provider in the US, could run some

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<v Speaker 4>of SpaceX phone traffic through its ground based internet infrastructure.

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<v Speaker 4>So the company already offers Starlink mobile service as a

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<v Speaker 4>ten door month add on on Tiamobile, Inc. But then

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<v Speaker 4>the thing is, I think SpaceX can go directly and

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<v Speaker 4>offer it to consumers, so they don't need Tiamobile, they

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<v Speaker 4>don't need AT and T, they don't need Verizon. And

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<v Speaker 4>we can see that reflected in the stock price. Clearly

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<v Speaker 4>investors are pretty bullish on SpaceX and not so bullition

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<v Speaker 4>on Veriecity.

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<v Speaker 5>I can't I tell you this could be a game changer,

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<v Speaker 5>more competition and also could mean that these companies are

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<v Speaker 5>able to or are forced to charge less if there's

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<v Speaker 5>another competitor.

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<v Speaker 4>The coet competation.

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<v Speaker 1>I don't want to blow up Mike McKee's spot, but

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<v Speaker 1>he was on this very cool vacation last week and

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<v Speaker 1>a very rural part of this country where typically you

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<v Speaker 1>wouldn't have any sort of cell phone service, and one

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<v Speaker 1>of the guys on his trip had brought and I

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<v Speaker 1>was like, Oh, it must have been so nice to

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<v Speaker 1>be unplugged and get away from it all and somebody

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<v Speaker 1>brought more.

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<v Speaker 5>But you can it's somebody brought start, right, Can we

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<v Speaker 5>do the reveal?

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<v Speaker 3>Like we were out in Southampton and not great service and

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<v Speaker 3>our whole crew doing our broadcast. Did it via starlink.

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<v Speaker 4>It is so good even on airplaneses like you can

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<v Speaker 4>see how how much better is the Wi Fi now

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<v Speaker 4>compared to like two years ago.

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<v Speaker 5>It's just crazy game changer.

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<v Speaker 3>Okay, time for one more Strategy.

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<v Speaker 4>We've been talking a lot about Strategy. It had a

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<v Speaker 4>great day yesterday, but it only lasted one day. Strategy

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<v Speaker 4>shares filled more than six percent today only start cutting

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<v Speaker 4>their price tag. We had both TD Cowen cut their

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<v Speaker 4>price tag from four hundred to two hundred and sixty.

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<v Speaker 4>That's a pretty big cut. And then kind of court,

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<v Speaker 4>Genuineity cut their price taget from one hundred and sixty

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<v Speaker 4>to one hundred and thirty. Nevertheless, the company says that

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<v Speaker 4>they may sell up to one point more than one

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<v Speaker 4>billion of bitcoin, and clearly yesterday that was enough relief

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<v Speaker 4>for investors. But the direction of travel is not great.

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<v Speaker 4>The stock has been selling off for months. It's down

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<v Speaker 4>about forty percent year today, and it's script to winter

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<v Speaker 4>and it's a prolonged scrypt to winter.

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