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 00:00:16,280 --> 00:00:17,520 Speaker 2: Let's get a look at some of the stocks on 5 00:00:17,520 --> 00:00:19,600 Speaker 2: the move today. I'm Paul Sweeney alongside Scarlet Food, were 6 00:00:19,680 --> 00:00:21,520 Speaker 2: joined by Bloomberg's Emily or Fee. 7 00:00:21,520 --> 00:00:23,040 Speaker 1: Emily, what are you looking at today? Okay, so I'm 8 00:00:23,079 --> 00:00:26,400 Speaker 1: looking at shares of Nike ticker NK. They're down about 9 00:00:26,400 --> 00:00:30,160 Speaker 1: ten percent right now. Reported earnings on Thursday. They're third 10 00:00:30,240 --> 00:00:33,800 Speaker 1: quarter guidance disappointed investors. It wasn't that bad, but they 11 00:00:33,840 --> 00:00:37,000 Speaker 1: expect third quarter sales to be down low single digits, 12 00:00:37,280 --> 00:00:40,880 Speaker 1: gross margins to shrink by roughly two percentage points due 13 00:00:40,880 --> 00:00:44,320 Speaker 1: to Tariffstly, we're still talking about tariffs, but they are 14 00:00:44,400 --> 00:00:48,760 Speaker 1: still something that is absolutely weighing on companies here. The 15 00:00:48,800 --> 00:00:52,680 Speaker 1: company also reported week sales in China and week sales 16 00:00:52,680 --> 00:00:58,680 Speaker 1: in the Converse brand, which anecdotally feels right. I don't't 17 00:00:58,720 --> 00:01:01,600 Speaker 1: wear Converse truck tailors. I love Converse. I was a 18 00:01:01,600 --> 00:01:04,400 Speaker 1: big Converse person, like in high school, but I don't 19 00:01:04,440 --> 00:01:06,360 Speaker 1: see them on the street anymore. Yeah, because you're not 20 00:01:06,360 --> 00:01:09,319 Speaker 1: on high school anymore, and or do high schoolers where 21 00:01:09,400 --> 00:01:11,040 Speaker 1: you might you know, you know some high schoolers. 22 00:01:11,520 --> 00:01:12,759 Speaker 2: I think they were ugs. 23 00:01:13,160 --> 00:01:17,640 Speaker 1: Yeah yeah, I feel like other Sneakers are trending right now. Adidas, 24 00:01:17,720 --> 00:01:21,240 Speaker 1: the Sambas, some of the Yea, the converse not so much. 25 00:01:21,920 --> 00:01:24,600 Speaker 1: That's a Defers brand. Yeah, okay, you think that maybe 26 00:01:24,600 --> 00:01:27,480 Speaker 1: they'll come back in style. But we did see that 27 00:01:27,640 --> 00:01:31,520 Speaker 1: those shares down and then a cut over at City, 28 00:01:31,640 --> 00:01:33,720 Speaker 1: so they had their price start cut to sixty five 29 00:01:33,760 --> 00:01:35,920 Speaker 1: dollars a share from seventy. So it's proving to be 30 00:01:35,959 --> 00:01:38,360 Speaker 1: a choppy or rocky turnaround. 31 00:01:38,360 --> 00:01:40,680 Speaker 2: It's not very linear at this point. What's next? 32 00:01:41,080 --> 00:01:44,800 Speaker 1: So this is another turnaround story FedEx because their CEO 33 00:01:44,920 --> 00:01:48,200 Speaker 1: is looking to turn around the business here and push 34 00:01:48,200 --> 00:01:52,800 Speaker 1: FedEx ground and air freight networks together and slash costs. 35 00:01:53,720 --> 00:01:56,400 Speaker 1: The latest earnings giving us maybe a mixed picture on 36 00:01:56,480 --> 00:01:58,600 Speaker 1: how well that's going, at least in the near term. 37 00:01:58,640 --> 00:02:02,120 Speaker 1: The stock is down about two percent right now ticker FDx. 38 00:02:02,440 --> 00:02:04,960 Speaker 1: It was down as much as five point six percent. 39 00:02:04,960 --> 00:02:07,920 Speaker 1: It was the biggest intro date drop since June, pairing losses. 40 00:02:08,040 --> 00:02:10,720 Speaker 1: They did upgrade their full year targets, but to a 41 00:02:10,760 --> 00:02:15,080 Speaker 1: lower magnitude than the second quarter earnings eat and then 42 00:02:15,320 --> 00:02:17,680 Speaker 1: they yeah, they raised the low end of the profit outlook, 43 00:02:18,160 --> 00:02:21,000 Speaker 1: so helped by volume and pricing gains in the US. 44 00:02:21,600 --> 00:02:24,600 Speaker 1: But the company also said they expect a six hundred 45 00:02:24,639 --> 00:02:28,320 Speaker 1: million dollar hit to adjusted earnings due to higher costs 46 00:02:28,360 --> 00:02:32,160 Speaker 1: from the grounding of some of their cargoes. Elevens. Yeah, yeah, 47 00:02:32,320 --> 00:02:34,000 Speaker 1: MD elevens, you're a big shipping person. 48 00:02:34,040 --> 00:02:36,480 Speaker 2: I love the MD eleven's great plane, but boy it's old. 49 00:02:37,160 --> 00:02:42,600 Speaker 1: One more okay. Finally, a bio pharma company, Biomarn ticker 50 00:02:42,639 --> 00:02:47,080 Speaker 1: bm RN. It's up seventeen percent because jump since November 51 00:02:47,320 --> 00:02:50,679 Speaker 1: twenty sixteen on deal News. They agreed to buy Amicus 52 00:02:50,960 --> 00:02:54,600 Speaker 1: Therapeutics for about four point eight billion dollars. And this 53 00:02:54,760 --> 00:02:58,320 Speaker 1: is a company that has treatments for rare diseases, so 54 00:02:58,440 --> 00:03:01,280 Speaker 1: investors are taking this as now Biomarn is going to 55 00:03:01,280 --> 00:03:03,400 Speaker 1: be able to expand its portfolio of treatments and it 56 00:03:03,400 --> 00:03:05,239 Speaker 1: has pricing power for these rare diseases. 57 00:03:05,600 --> 00:03:10,080 Speaker 2: They all do the stock Moover's report from Bloomberg Radio. 58 00:03:10,600 --> 00:03:12,760 Speaker 2: Check back with us throughout the day for the latest 59 00:03:12,800 --> 00:03:16,000 Speaker 2: roundup of companies making news on Wall Street and for 60 00:03:16,120 --> 00:03:20,040 Speaker 2: the latest market moving headlines. Listen to Bloomberg Radio Live. 61 00:03:20,440 --> 00:03:24,040 Speaker 2: Catch us on YouTube, Bloomberg dot com, and on Applecarplay 62 00:03:24,040 --> 00:03:26,640 Speaker 2: and Android Auto with the Bloomberg Business app.