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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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Speaker 1: your roundup of companies making moves in the stock market,

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Speaker 1: harnessing the power of Bloomberg data.

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Speaker 2: It is appropriate on this day of economics to do

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Speaker 2: stock movers. It's a podcast. Lisa Mateo here with those

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Speaker 2: on the move.

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Speaker 3: Lisa, what do you okay? I want to start with

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Speaker 3: Ford ticker F Their share has been up as much

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Speaker 3: as one percent. So we've been talking about a Ford

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Speaker 3: taken a nearly twenty billion dollars in charges tied to

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Speaker 3: that overhaul of its EV business. The majority of those

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Speaker 3: charges are going to come in the fourth quarter. So

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Speaker 3: what it includes. It's canceling this planned electric F series trucks,

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Speaker 3: It's shifting production toward gas and hybrid vehicles. It's repurposing

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Speaker 3: an EV battery plant. And we know Ford's been struggling

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Speaker 3: for years right to make that unit profitable. The division

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Speaker 3: lost five point one billion last year. The company expects

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Speaker 3: losses could be worse this year. The changes makes Fords

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Speaker 3: e the operations profitable. Why get this twenty twenty nine,

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Speaker 3: that's when they expect to be profitable. But we heard

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Speaker 3: Jim Frawley Tel Bloomberg TV. It just didn't make sense

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Speaker 3: to keep putting billions into products that they knew would

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Speaker 3: not make any money.

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Speaker 2: And I saw Paul Volkswagen shutting down a German manufacturing.

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Speaker 4: First time, I think the first time.

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Speaker 2: Yeah, in ages. I mean it just basically comes down

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Speaker 2: to the future of automobiles.

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Speaker 1: That's exactly right.

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Speaker 4: As an investor, I don't know how you can be

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Speaker 4: in these names. That being said, Ford stock is up

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Speaker 4: thirty percent this year, but talk about an industry that

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Speaker 4: is facing a fundamental transition. It's kind of like the

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Speaker 4: media basis time we know where it's going to go.

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Speaker 2: Goodwill I just lost excuse me here, I've got Goodwill

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Speaker 2: on the screen of six hundred and fifty eight billion,

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Speaker 2: sixty nine billion other intangibles, so make it around seven

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Speaker 2: hundred yep. And they're taking nineteen out I think is

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Speaker 2: somehow yep, I would That's that's tomes a counting which

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Speaker 2: folks will get you all did by the irs. Do

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Speaker 2: you have another stock to st this morning?

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Speaker 3: Let's go to PayPal pypl Their stock is gaining about

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Speaker 3: one and a half percent to two percent. It's a

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Speaker 3: payments firm. It applied to become a bank. In the US,

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Speaker 3: you have the administration. They've kind of been loosening those

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Speaker 3: regulatory rains on fintech companies entering the banking system. So

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Speaker 3: what's going to happen if this is approved? Well, PayPal Bank,

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Speaker 3: it would basically help the firm boost its small business lending.

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Speaker 3: It's a big part of it. They have access to

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Speaker 3: more than thirty billion in loans in capital since twenty thirteen.

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Speaker 3: But they also want to improve consumer focused finance products.

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Speaker 3: So it's interested in offering customers interest bearing safe these

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Speaker 3: account But we've heard this with crypto firms, right. It

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Speaker 3: comes after a number of them gain preliminary regulatory approval

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Speaker 3: to become banks. Last week you had companies like Circle,

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Speaker 3: Internet Group, Ripple. Aside from crypto, you have Nissan's motor

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Speaker 3: financing arm. Earlier this year they applied for the same

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Speaker 3: charter that PayPal is looking to get. In Japan, Sony

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Speaker 3: Group they've also applied to be a bank. So we're

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Speaker 3: seeing more of these companies apply to be banks. Interesting,

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Speaker 3: all right, PayPal.

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Speaker 4: Why not? I mean you're already in the payments business.

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Speaker 4: Little credit risk there one.

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Speaker 3: More, yes, fiz Our PFE their shares them up as

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Speaker 3: much as half a percent or so. It forecasts little

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Speaker 3: to know sales growth next year. The company's trying to

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Speaker 3: rebuild that drug pipeline right. It has a number of acquisitions.

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Speaker 3: The demand for COVID shots have been fading. If you

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Speaker 3: want the specifics, Revenue twenty twenty six is going to

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Speaker 3: be fifty nine point five billion to sixty two point

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Speaker 3: five billion, and that was about in line with estimates.

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Speaker 3: And sales this year they're expected to be about sixty

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Speaker 3: two billion.

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Speaker 1: The Stock Movers report from Bloomberg Radio. Check back with

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Speaker 1: us throughout the day for the latest roundup of companies

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Speaker 1: making news on Wall Street and for the latest market

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