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 2: Let's get a look at some of the stocks on
Speaker 2: the move today. I'm Paul Sweeney alongside Scarlet Food, were
Speaker 2: joined by Bloomberg's Emily or Fee.
Speaker 1: Emily, what are you looking at today? Okay, so I'm
Speaker 1: looking at shares of Nike ticker NK. They're down about
Speaker 1: ten percent right now. Reported earnings on Thursday. They're third
Speaker 1: quarter guidance disappointed investors. It wasn't that bad, but they
Speaker 1: expect third quarter sales to be down low single digits,
Speaker 1: gross margins to shrink by roughly two percentage points due
Speaker 1: to Tariffstly, we're still talking about tariffs, but they are
Speaker 1: still something that is absolutely weighing on companies here. The
Speaker 1: company also reported week sales in China and week sales
Speaker 1: in the Converse brand, which anecdotally feels right. I don't't
Speaker 1: wear Converse truck tailors. I love Converse. I was a
Speaker 1: big Converse person, like in high school, but I don't
Speaker 1: see them on the street anymore. Yeah, because you're not
Speaker 1: on high school anymore, and or do high schoolers where
Speaker 1: you might you know, you know some high schoolers.
Speaker 2: I think they were ugs.
Speaker 1: Yeah yeah, I feel like other Sneakers are trending right now. Adidas,
Speaker 1: the Sambas, some of the Yea, the converse not so much.
Speaker 1: That's a Defers brand. Yeah, okay, you think that maybe
Speaker 1: they'll come back in style. But we did see that
Speaker 1: those shares down and then a cut over at City,
Speaker 1: so they had their price start cut to sixty five
Speaker 1: dollars a share from seventy. So it's proving to be
Speaker 1: a choppy or rocky turnaround.
Speaker 2: It's not very linear at this point. What's next?
Speaker 1: So this is another turnaround story FedEx because their CEO
Speaker 1: is looking to turn around the business here and push
Speaker 1: FedEx ground and air freight networks together and slash costs.
Speaker 1: The latest earnings giving us maybe a mixed picture on
Speaker 1: how well that's going, at least in the near term.
Speaker 1: The stock is down about two percent right now ticker FDx.
Speaker 1: It was down as much as five point six percent.
Speaker 1: It was the biggest intro date drop since June, pairing losses.
Speaker 1: They did upgrade their full year targets, but to a
Speaker 1: lower magnitude than the second quarter earnings eat and then
Speaker 1: they yeah, they raised the low end of the profit outlook,
Speaker 1: so helped by volume and pricing gains in the US.
Speaker 1: But the company also said they expect a six hundred
Speaker 1: million dollar hit to adjusted earnings due to higher costs
Speaker 1: from the grounding of some of their cargoes. Elevens. Yeah, yeah,
Speaker 1: MD elevens, you're a big shipping person.
Speaker 2: I love the MD eleven's great plane, but boy it's old.
Speaker 1: One more okay. Finally, a bio pharma company, Biomarn ticker
Speaker 1: bm RN. It's up seventeen percent because jump since November
Speaker 1: twenty sixteen on deal News. They agreed to buy Amicus
Speaker 1: Therapeutics for about four point eight billion dollars. And this
Speaker 1: is a company that has treatments for rare diseases, so
Speaker 1: investors are taking this as now Biomarn is going to
Speaker 1: be able to expand its portfolio of treatments and it
Speaker 1: has pricing power for these rare diseases.
Speaker 2: They all do the stock Moover's report from Bloomberg Radio.
Speaker 2: Check back with us throughout the day for the latest
Speaker 2: roundup of companies making news on Wall Street and for
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