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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: The Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: I'm Jim Stenoveek with Carol Masser. We are joined by

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Speaker 3: Bloomberg Television Markets correspondent Nora Melnda for some stocks on

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Speaker 3: the move? What do you got, Noura?

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Speaker 4: So we can't stop talking about Nike. That's what I've

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Speaker 4: got in mind to start things off. Ticker ink e

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Speaker 4: a brutal day for the company, down about sixteen percent

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Speaker 4: if you look at the size and scope, the lowest

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Speaker 4: level since October of twenty fourteen. So no great investors

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Speaker 4: not really liking what came out of earning, so they

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Speaker 4: said that they expect revenue to decline this quarter and

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Speaker 4: through the rest of this year. But what we do

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Speaker 4: know is we've been getting reporting that the CEO, Elliott Hill,

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Speaker 4: was telling staff that he wants to shift from fixing

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Speaker 4: the business to actually driving growth. So we do understand

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Speaker 4: that he did breast some frustrations there. But I mean,

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Speaker 4: I've also just been looking at the performance of the company,

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Speaker 4: and we know that this has really been a company

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Speaker 4: that's been really struggling to chart a turnaround story. The

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Speaker 4: stock is not about thirty percent so far in twenty

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Speaker 4: twenty six. But interestingly, Wall Street I was looking about

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Speaker 4: fifty seven percent of the analysts still say to buy

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Speaker 4: the stock. But you know, I think in terms of

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Speaker 4: Wall Street in their perception today, at least they weren't

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Speaker 4: too pleased.

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Speaker 5: Wasn't it when the numbers crossed?

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Speaker 1: They we didn't get the outlook right away right all

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Speaker 1: this country, we were all just kind of waiting for

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Speaker 1: a yeah, and then we get it. Weakness and greater

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Speaker 1: China re fallowing Converse sales or among management's biggest challenges.

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Speaker 1: China is a story we've been talking about for a

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Speaker 1: while with Nike.

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Speaker 5: See China.

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Speaker 4: I did know I thought the Converse were timeless.

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Speaker 5: No, I don't know. I don't really wear Converse. The

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Speaker 5: daughter chick Taylor's right, Yeah, I guess so, I don't know.

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Speaker 5: You know what's amazing?

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Speaker 3: They're padding, aren't they what?

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Speaker 4: I'm curious?

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Speaker 5: Okay?

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Speaker 3: Authentic? Well, we reported yesterday Lillie Meyer and Eliza Ronaldshannon

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Speaker 3: that a potential suitor for Converse could be an Authentic

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Speaker 3: Brands group. They've expressed interest in buying Converse if it's

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Speaker 3: put up for sale. According to people familiar with the masters,

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Speaker 3: can I just.

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Speaker 1: Tell you often when I am on a subway or

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Speaker 1: even this morning, I was walking through the platform, the

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Speaker 1: subway platform, and I wanted to take a video as

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Speaker 1: I walked along, because everybody has sneakers on. Yeah, everybody,

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Speaker 1: and they're all different kinds of brands. It is such

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Speaker 1: a crowded competitive field. And I know nice all birds

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Speaker 1: right right, exactly, all Birds. I remember when they came

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Speaker 1: out bottom bottom bottom, but I haven't bought them for

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Speaker 1: years a minute.

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Speaker 3: Right now, they're winding down after selling assets for thirty

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Speaker 3: nine million dollars.

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Speaker 1: The thing is Nike is iconic, and I'm not quite sure.

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Speaker 1: Is it a bigger nut and harder to move?

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Speaker 5: I don't know, I don't know.

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Speaker 3: I just want to add one more thing. The interest

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Speaker 3: is long standing. Nike so far hasn't engaged in discussions

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Speaker 3: with the owner of Reeboking Champion, nor has Authentic made

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Speaker 3: any official overture. According to the people who asked not

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Speaker 3: to be identified because they weren't authorized to speak publicly about.

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Speaker 1: The situation, I'm going to go back to the CFO

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Speaker 1: saying they're going to be imagining costs carefully, so that's

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Speaker 1: going to put pressure on everybody as they as they

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Speaker 1: try to make things turn around.

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Speaker 5: Sorry, we like this story too, it's interesting. Thank you,

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Speaker 5: multiple chapters to unfold.

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Speaker 4: Well, this is a going to name that ended in

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Speaker 4: the green today and we can't share some of intel

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Speaker 4: I INTC closing hired by about eight percent today. This

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Speaker 4: is after the company agreed to pay about fourteen billion

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Speaker 4: dollars to pay back half of a plant in Ireland

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Speaker 4: that it had previously sold to Apollo Global so Da Davidson,

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Speaker 4: the analyst over there, did say that they think that

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Speaker 4: this move bodes well for the company's turnaround story. The

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Speaker 4: deal will apparently be funded with cash on hand and

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Speaker 4: roughly about six and a half billion dollars in new debt.

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Speaker 4: So clearly Wall Street was happy with this, and you know,

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Speaker 4: stock ending higher on the day. Sixty nine percent of

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Speaker 4: analysts on Wall Street do say though, to hold the stock.

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Speaker 4: We know that this company is up about thirty percent

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Speaker 4: so far in twenty twenty six.

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Speaker 1: Got to believe they're not going to do this unless

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Speaker 1: they're upbeate about the outlook. Make that spend let's go

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Speaker 1: on over to a couple of drugstocks.

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Speaker 4: Yeah, I mean, whenever you're looking for news, I feel

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Speaker 4: that you know your biotechs, your drug companies, healthcare, they're

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Speaker 4: always moving. I'm looking at shares of e Take your

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Speaker 4: l Y as well as Novo Nordis ADRs take your Vo.

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Speaker 4: So we did see Eliley closing higher by about three percent.

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Speaker 4: We do know that the FDA did approve the drug

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Speaker 4: maker's obesity pill Fundio under the agency's National Priority Voucher

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Speaker 4: Pilot program. We know what's kind of been a back

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Speaker 4: and forth with these two companies. They're obviously always duking

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Speaker 4: it out, I mean, but both of them really struggled

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Speaker 4: this year. So it's really about which company is able

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Speaker 4: to bring new things online that their investors can really

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Speaker 4: sink their teeth into. And especially when we think about

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Speaker 4: the fact that the OBCD space has been a really

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Speaker 4: you know, buoyant, what popular industry as of late, this

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Speaker 4: is where they really want to lean into. But both

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Speaker 4: stocks are down so far this year. Ellllly shares down

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Speaker 4: by about eleven percent and Novo Nordius ADR is down

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Speaker 4: by twenty eight percent in twenty twenty.

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Speaker 5: Six, big all right, good stuff.

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Speaker 1: Check out our Stockmovers podcast, five minute episodes of the

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