Nike Inc. is cutting jobs and embarking on a sweeping overhaul of the business as results deteriorate and test Wall Street's patience with Chief Executive Officer Elliott Hill. Bloomberg Intelligence, Senior US E-Commerce and Retail Analyst, Poonam Goyal discusses Nike's job cut decision and why sales have continued to slump.
National Economic Council Director Kevin Hassett says higher long-term rates can reflect underlying economic strength. Speaking to Mike McKee and Dani Burger on Bloomberg Open Interest, Hassett calls the government's debt-interest burden unacceptably high but says the administration is serious about deficit reduction.
National Economic Council Director Kevin Hassett says it's unusual that Jerome Powell is still a member of the Federal Reserve Board of Governors after being replaced as chairman. When asked if Powell should leave, Hassett says it's up to him.
The US added fewer jobs than expected in September and wage growth slowed, signaling some caution among employers amid rising costs. Nonfarm payrolls increased 29,000 last month after a downward revision to the prior two months. The unemployment rate rose to 4.2%, partly reflecting a growing workforce. Rebecca Patterson, Senior Fellow at Council on Foreign Relations and Former Chief Investment Strategist at Bridgewater, reacts to US jobs.
French government bonds deepened this week's slump, with investors demanding the biggest yield premium to hold the bonds over safer German debt since the region's debt crisis. Huw van Steenis, Partner at Apollo, discusses this as well as the overall European economic outlook.
On this episode of Stock Movers: - Nike (NKE) shares continue their slide as it is cutting jobs and overhauling its business as results deteriorate, with a restructuring plan to save $2.5 billion over the next five years. The company expects a high-single-digit revenue decline this year, which is worse than the 2.4% drop projected by analysts, and shares of Nike fell as much as 9.7% in New York on Friday. - Broadcom (AVGO) shares are moving on news the company's Wall Street syndicate are starting to gather $60 billion of fresh AI chip financing to benefit Anthropic and other companies. - Fair Isaac Corp. (FICO) shares are rising after the company launched the FICO Mortgage Direct License Program, and Bill Pulte signaled he wasn't purposefully targeting the company, which may have contributed to the stock's rise on Thursday.
Elon Musk's Tesla delivered 486,532 vehicles in the third quarter topping the estimate of 463,761. Sales are still down from a year ago. Bloomberg's Craig Trudell reports.
Snap-on CEO Nick Pinchuk joins Bloomberg Open Interest to discuss US manufacturing conditions, including rising diesel and material costs, how large vs. small manufacturers are coping, the impact of reshoring on hiring and why tariffs and Chinese competition are central to long-term planning.
US factory orders rose by 0.1% month-over-month in August. Michael McKee breaks down the numbers and also discusses the G7's plans to release as much as 100 million barrels of emergency oil and diesel stocks on "Bloomberg Open Interest."
White House National Economic Council Director Kevin Hassett says the US jobs report for September came in as expected. He says holiday consumer spending will be strong. Hassett also says Jerome Powell has to decide if he's going to stay on the Fed Board of Governors. Hassett speaks on "Bloomberg Open Interest."
Chipmaker Onsemi revised the purchase terms of its acquisition of Synaptics, agreeing to pay about $5.7 billion in cash rather than roughly $7 billion in shares. Carmen Reinicke reports on "Bloomberg Open Interest."
Broadcom's Wall Street syndicate is starting to gather $60 billion of fresh AI chip financing to benefit Anthropic PBC and other companies, according to people with knowledge of the matter. Carmen Reinicke has more on "Bloomberg Open Interest."
