Bloomberg Audio Studios, Podcasts, radio News.
The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Carol Messer along with Tim Stenevic. Let's get to some stocks on the move on this Wednesday. Joining us to do that. Bloomberg News CROSSUSET reporter Isabelle Lee. She is in the house.
Hi, it's April. It's already this month, April fools. But I won't be saying much of a joke. I'm going to start it with Nike. I tried my best.
I tried at the top and at the door.
Good work with me too, Okay. Nike shares are down by fifteen percent, that's the lowest and twenty fourteen, so really not a good day. The stock has now fallen some thirty percent this year, So the retailer gave a gloomy outlook for the rest of the year, and they also said revenue is expected to decline some two to four percent. Bloomberg Intelligence analysts were obviously expecting for more growth two percent sales throws in fact, and a bigger
gain as a year progress. So Nike has been trying to regain market dominance, but it hasn't been panning out. It's facing a lot of headwinds. Bloomberg Intelligence point I'm Goyel said that the war is likely having an impact and the pressures will persist. And there was a call, it was a Bloomberg schoop that we got a recording of as this is a great yes, the CEO, Elliott Hill was like, I'm so tired. I know you are too, and I thought that was It's good when a leader commisserates with you, right.
It is, But how do you rally the troops in an environment where your stock is at a low not seen for ten years and you want to get you want to try to create excitement. You want to get people excited about the brand, so then they have these creative ideas that help them get out of this challenging environment that they've been in for so long.
I guess that's his challenge. Hill took over in twenty twenty four and it hasn't been that great since then. He does seem like he's a kind and emphatic leader, at least judging from the stories we've been reading. But we know that's not enough and to your point, what are you going to do? Morale is very low. It's the lowest since twenty fourteen, so more than a decade.
Act.
Well, the CFO says, we're going to be managing costs carefully as we've been doing, and so that always is a little bit of pressure internally as they try to kind of write the ship. So anyway, Hill said, I hate to lose, and we've got work to do in some of these places.
Okay, Nike under pressure? What else you got?
Intel? And now this is a stocking degree and up by eight and a half percent. So they're buying a steak in an Irish manufacturing plant as part of their comeback plan. So they agreed to pay fourteen point two billion dollars to buy back half of a plant in Ireland that it previously sold to a follow So the transaction will be financed in cash on hand and the issue once of around six and a half billion in new debt. And of course this is expected to add
to their earnings per share. This is the latest move for Intel. You know, I thought, why Ireland. Maybe a lot of people know this, but I didn't. But the Ireland purchase reflects their glowing growing confidence in the business, and AMD and Analog Devices also have locations in Ireland. I've never been.
There's a big tech presence right in its Ireland. They do a lot to bring in foreign direct investment and some of it. Yeah, they've been very, very supportive of companies coming in. Where should we go next?
Tesla, of course, Elon Musk always in the headlines. Sits up by just one point eight percent. Just it's still a degree, but it's not great news actually, so I'm not sure why this stock is popping there because the auto business is likely to just get tougher and tougher. For Tesla, they delivered about three hundred and seventy two
thousand vehicles during the last three months. So yes, this is up eleven percent from a year ago, but it's still ranks or Wood rank among the lowest in recently quarterly totals for the company, and sales early last year, as we know, were really affected by the backlash against Elon Musk and his participation in the Trump government. And of course we also know that there were a production process tied to Model Y, which just test lasts most popular vehicle.
I just can't wait till they just like lump it all into one thing. Really yeah, yeah, I think right. Yeah.
I asked Craig Trudell about that earlier today in the UK, and he covers the entire Auto istry. He's like, this is this is something that you know when when SpaceX slash XII slash everything else that's in there goes public. That's something that investors are going to be looking for because it, you know, the center quote unquote synergies with the companies. But there's also like the Elon Musk pay package that's tied to market cap.
Yeah, so I know, it just gets it's always interesting if it's Elon, it's interesting.
It's just it might come true. It might come true soon. They confidentially filed for an IPO, which I'm sure you guys have been reporting over and over.
Actually, thank you for doing that.
No, you're so great, is it?
Belly Bloomberg News crossus that reporter. Check out our Stockover's podcast, five minute episodes of the big winners and losers in the stock market. You can find it on Apple, Spotify, or anywhere you get your podcast Apple.
Happy Birthday, Oh, Happy bir Day fifty.
The Stockmover's Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.