WEBVTT - BioMarin Rises, FedEx Drops and Nike Sinks on Sales Warning

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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.

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<v Speaker 2>Let's get a look at some of the stocks on

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<v Speaker 2>the move today. I'm Paul Sweeney alongside Scarlet Food, were

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<v Speaker 2>joined by Bloomberg's Emily or Fee.

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<v Speaker 1>Emily, what are you looking at today? Okay, so I'm

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<v Speaker 1>looking at shares of Nike ticker NK. They're down about

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<v Speaker 1>ten percent right now. Reported earnings on Thursday. They're third

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<v Speaker 1>quarter guidance disappointed investors. It wasn't that bad, but they

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<v Speaker 1>expect third quarter sales to be down low single digits,

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<v Speaker 1>gross margins to shrink by roughly two percentage points due

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<v Speaker 1>to Tariffstly, we're still talking about tariffs, but they are

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<v Speaker 1>still something that is absolutely weighing on companies here. The

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<v Speaker 1>company also reported week sales in China and week sales

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<v Speaker 1>in the Converse brand, which anecdotally feels right. I don't't

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<v Speaker 1>wear Converse truck tailors. I love Converse. I was a

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<v Speaker 1>big Converse person, like in high school, but I don't

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<v Speaker 1>see them on the street anymore. Yeah, because you're not

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<v Speaker 1>on high school anymore, and or do high schoolers where

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<v Speaker 1>you might you know, you know some high schoolers.

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<v Speaker 2>I think they were ugs.

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<v Speaker 1>Yeah yeah, I feel like other Sneakers are trending right now. Adidas,

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<v Speaker 1>the Sambas, some of the Yea, the converse not so much.

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<v Speaker 1>That's a Defers brand. Yeah, okay, you think that maybe

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<v Speaker 1>they'll come back in style. But we did see that

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<v Speaker 1>those shares down and then a cut over at City,

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<v Speaker 1>so they had their price start cut to sixty five

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<v Speaker 1>dollars a share from seventy. So it's proving to be

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<v Speaker 1>a choppy or rocky turnaround.

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<v Speaker 2>It's not very linear at this point. What's next?

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<v Speaker 1>So this is another turnaround story FedEx because their CEO

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<v Speaker 1>is looking to turn around the business here and push

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<v Speaker 1>FedEx ground and air freight networks together and slash costs.

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<v Speaker 1>The latest earnings giving us maybe a mixed picture on

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<v Speaker 1>how well that's going, at least in the near term.

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<v Speaker 1>The stock is down about two percent right now ticker FDx.

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<v Speaker 1>It was down as much as five point six percent.

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<v Speaker 1>It was the biggest intro date drop since June, pairing losses.

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<v Speaker 1>They did upgrade their full year targets, but to a

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<v Speaker 1>lower magnitude than the second quarter earnings eat and then

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<v Speaker 1>they yeah, they raised the low end of the profit outlook,

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<v Speaker 1>so helped by volume and pricing gains in the US.

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<v Speaker 1>But the company also said they expect a six hundred

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<v Speaker 1>million dollar hit to adjusted earnings due to higher costs

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<v Speaker 1>from the grounding of some of their cargoes. Elevens. Yeah, yeah,

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<v Speaker 1>MD elevens, you're a big shipping person.

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<v Speaker 2>I love the MD eleven's great plane, but boy it's old.

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<v Speaker 1>One more okay. Finally, a bio pharma company, Biomarn ticker

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<v Speaker 1>bm RN. It's up seventeen percent because jump since November

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<v Speaker 1>twenty sixteen on deal News. They agreed to buy Amicus

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<v Speaker 1>Therapeutics for about four point eight billion dollars. And this

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<v Speaker 1>is a company that has treatments for rare diseases, so

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<v Speaker 1>investors are taking this as now Biomarn is going to

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<v Speaker 1>be able to expand its portfolio of treatments and it

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<v Speaker 1>has pricing power for these rare diseases.

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<v Speaker 2>They all do the stock Moover's report from Bloomberg Radio.

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<v Speaker 2>Check back with us throughout the day for the latest

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