Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Destetific along with Carol Masser, and we are joined
Speaker 3: by Bloomberg and use equities reporter Avalon Pronell for a
Speaker 3: look at some stocks on the move this week. Yes,
Speaker 3: what do you got for us in the shortened trading week?
Speaker 4: As you mentioned, a shortened trading week, but we can
Speaker 4: definitely start off with Nike. That's ticker KE. Not a
Speaker 4: great week, to say the lease. It fell about fourteen
Speaker 4: percent into the close, closing down at its lowest level
Speaker 4: since twenty fourteen. That's after the sportswear company forecasts a
Speaker 4: revenue drop of as much as four percent for the
Speaker 4: fourth quarter. Bank of America writing get a note that
Speaker 4: they thought that there was going to be improved performance
Speaker 4: and that the results would mean a return to growth
Speaker 4: in the first quarter. Instead, management has initiated guidance for
Speaker 4: sales to remain negative. Now, we can all remember that
Speaker 4: Nike is in the early stages of a turnaround a
Speaker 4: new CEO, and this is actually the first forecast under
Speaker 4: that new CEO Elliott Hill. But definitely still going to
Speaker 4: be an interesting time for Nike.
Speaker 1: I mean it's an interesting time.
Speaker 3: Yeah, it's that's the problem, and that's the had this
Speaker 3: great piece. If you missed it, check it out on
Speaker 3: the Bloomberg terminal, Lily Meyer writing the story. It's at
Speaker 3: Boomberg dot com as well. But it's about this this
Speaker 3: uh message that Elliot Hill gave to employees this week
Speaker 3: saying he's he's ready to start winning again and trying
Speaker 3: to rally the troops. It's it's a challenge to do
Speaker 3: that when you work at a publicly traded company. The
Speaker 3: stock has been beaten up so much and so much
Speaker 3: compensation has to do yeah, with a stock.
Speaker 1: Press, and the CFO talked about cutting calls, so that
Speaker 1: puts pressure on them what they are trying to kind
Speaker 1: of turn around. I mean, let's not be silly. It's
Speaker 1: a well known brand, iconic brand, still sells a ton
Speaker 1: of stuff, but it's been stuck.
Speaker 3: Well, my seven year old like loves and yeah, just
Speaker 3: based on the stars. He sees where it when you know,
Speaker 3: he watches sports, what the kids talk about at school. Yeah,
Speaker 3: he knows what Nike is.
Speaker 1: Yeah, so I know. So that's why I'm saying, you know,
Speaker 1: you gotta believe. But we have seen great brands come
Speaker 1: under pressure. Think about Apple and the runs that it
Speaker 1: has had over its happy fifty year history.
Speaker 3: Good Birthday Apple, Yes, sEH, I did that?
Speaker 1: Yeah, all right, where should we go?
Speaker 4: Yeah, let's head over to Echo Star.
Speaker 3: Get me out of here.
Speaker 4: The come on cause that is ticker SATs. It closed
Speaker 4: up fifteen percent this week. We can finally see some green.
Speaker 4: That's after several updates on Elon Musk spakes X's IPO plans.
Speaker 4: They filed confidentially for an IPO earlier this week and
Speaker 4: are said to be targeting a two trillion dollar IPO evaluation.
Speaker 4: According to our reporting this week, that would make the
Speaker 4: company bigger than all but five companies in the S
Speaker 4: and P five hundred.
Speaker 3: It's in. The reporting around this is absolutely amazing. Kyle Port,
Speaker 3: Eric Johnson, Bailey Liptwolta with the most recent story that
Speaker 3: you just mentioned, could target evaluation of over two trillion dollars.
Speaker 3: It's the world's most valuable startup. We're also got to
Speaker 3: report this Thursday from Reuter's that said SpaceX has had
Speaker 3: discussions with Sadi Arabia's public Investment fund about that fund
Speaker 3: potentially taking an anchor stake of around five billion dollars
Speaker 3: in the IPO.
Speaker 1: As they can.
Speaker 3: They got the.
Speaker 1: Money, They got the money. Yeah, Yeah, a lot of
Speaker 1: excitement around that one. That's a big deal. I don't
Speaker 1: even remember talking about this stock throughout the week. Do
Speaker 1: you the next one that she's going to go.
Speaker 3: To hold on? I have to look at my notes.
Speaker 4: Lumentum Holdings tacker l E. It's kind of a little
Speaker 4: known name, but it rose twenty six percent this week,
Speaker 4: closing today at a record high, and it joins a
Speaker 4: small group of optical component makers that have become the
Speaker 4: market's latest darlings. My coworker Ryan had a great story
Speaker 4: out about it this week about how Lumentum plays a
Speaker 4: crucial role in data centers, especially as rising usage requires
Speaker 4: increasing amounts of bandwidth, and the stock is one of
Speaker 4: the top performers in s A P five hundred this year,
Speaker 4: already up one hundred and twenty four percent.
Speaker 1: Wow Siena Corp. At least, according to our supply chain
Speaker 1: analysis on the Bloomberg twenty two percent of that company's revenues.
Speaker 1: Alphabet is also a big customer about twenty one percent.
Speaker 1: Looks like it's the second biggest customer. Apple's a customer,
Speaker 1: Amazon's a customer, Cisco's a customer. That's a pretty nice customer.
Speaker 2: List.
Speaker 3: Could have been one of our gainers today, Carol.
Speaker 1: Thanks very much for that.
Speaker 3: Could have been.
Speaker 2: You know, it's a good thing.
Speaker 1: We have a long weekend here. I'm just gonna say,
Speaker 1: just kidding. Those are great names, really really great. Thank
Speaker 1: you so much. Avalon. Have a great weekend. That is,
Speaker 1: of course, Avalon Pernella Bloomberg News and check it our
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