37 Burst results for "Bloomberg Intelligence"

"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:06 min | 3 weeks ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Feel everyone is excited to be back And operating earnings increase slightly And Warren Buffett finally found ways to put some of Berkshire Hathaway's massive cash pile to work according to Bloomberg editor Sally bakewell Struck an agreement for Allegheny an 11 billion cash deal but he also loaded up on stakes in HP He boosted significantly his stake in Chevron which now bolts it into the top four if you remember top up there is Apple And he has also been loading up on Occidental Petroleum And bakewell says the cash pile shrank to about a $106 billion from a 147 billion at the beginning of the year Stock repurchases slowed The EU is working on betting oil imports The source says the EU is possibly looking at phasing them out by the end of the year And efforts to make New Jersey of massive wind power manufacturing are intensifying More on that problem Jeff Bellinger The New Jersey wind port on the Delaware river is state financed and designed to attract companies looking for a place to manufacture giant blades and other parts The Danish company orsted this week signed on as the first company to use the wind pork to build components for the state's first offshore wind farm along with New Jersey's PSG This will allow the machines to be built in a place where they can get shipped out to sea without bridges or other things blocking their way It's not clear how soon the port could be ready for a second tenant but governor Murphy has indicated he wants the wind port to be a hub of activity Thank you Jeff And global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries In the news remind Denise Pellegrini this is Bloomberg This is Bloomberg intelligence with Alex Steele and Paul Sweeney on Bloomberg radio I'm pretty Gupta in for Paul Sweeney We'll be here each and every week at this time Tapping into our Bloomberg intelligence analyst covering some 2000 companies and 130 industries worldwide Molson cores may be on the brink of an upgrade thanks to a long list of improving metrics that's according to Bloomberg intelligence senior credit analyst Mary Ross Gilbert she joins us now Mary thank you as always for taking the time Let's start off with a very simple question We're simple for me maybe not simple for you Give us a breakdown on Molson Coors balance sheet today Hi kriti Yes thank you for that So most of course as we know it was created in 2016 when Molson cores acquired the remaining 58% stake of Miller's cores It didn't already own from SAB Miller for $12 billion taking on about 7 billion of debt This raised its total debt to about 12 billion which was almost 5 times combined EBITDA that's earnings before interest taxes depreciation After losing market share over the next 5 years amid a slump in U.S. beer consumption at least until COVID then the loss of sales from bars and restaurants on shutdowns Molson core's EBITDA fell about 17% However thanks to the company's high cash conversion which we define as excess cash flow after dividends divided by its EBITDA debt has been cut by 42% since the merger Today the maker of Coors light and Miller lite has about 7 billion of funded debt This includes 5 billion in U.S. dollar bonds 800 million of Euro bonds and 1 billion of Canadian dollar bonds So even though EBITDA is down near 2.1 billion net leverage has improved almost two turns to just about three times So how are things shaping up for 2022 The rest of the year Yeah so in 22 Molson expects sales in EBITDA to rise So this will be the first time since the merger And as it continues to prioritize lowering debt we think net leverage could drop to 2.7 times And that puts it well within solid triple-b territory This is one notch above its current bottom triple-b range S&P indicated to us that it needs proof that Molson can sustain margins and continue to improve via innovation S&P also said that Molson has exceeded expectations in its ability to execute And thus could raise Molson's reading outlook to positive from stable in a few quarters as the first step toward an upgrade S&P also considers the downside risk to be low We think upgrades may occur in 2023 Let's talk about inflation We are seeing rising housing prices rising oil prices of course off the war in Ukraine even more pressure when it comes to food prices and a lot of the input costs for a lot of food companies for beverage companies like Molson Coors talk to us about how Molson cores is positioned this year specifically in light of the war in Ukraine Yeah so this is a very very good question This is top of mind for investors In the U.S. Molson cores this is their largest market It's about 70% of sales And they hold the number two share in beer or about 21% as they report it That's about half the share commanded by the king of beers ABM bev known for its Budweiser brand Key input costs for Molson include barley hops aluminum bottles and corn Plus they're experiencing higher transportation and labor costs including shortages But going back to these main inputs as you are highlighting especially with Ukraine and Russia Barley other grains and aluminum they're up 40 to 60% year on year But Molson expects to offset most inflation headwinds headwinds with higher sales of higher margin above premium beer and what it calls its beyond beer category which is mostly comprised of seltzers but also price increases are helping In the first quarter Molson raised prices three to 5% And it could institute more if necessary For hedging management indicated it's very comfortable with its coverage in 2022 Because it usually hedges over three years with the most coverage in the first year a little less than the second and even less than the third That's why they think they're well positioned this year And then there's a 110 million in cost savings So when you take all these together most of EBITDA is still expected to be up But less than the anticipated mid single digit rise in sales So that means their margin is going to be down But going back to this high cash conversion and to give you an idea it's almost 40% of EBITDA after dividends That may go lower And according to our sensitivity analysis even though Molson anticipates higher EBITDA this year if things get worse greater than expected it could withstand as much as a 6% hit to its EBITDA and still achieve net leverage target below three times So they do have some cushion Fascinating stuff Bloomberg intelligence analyst Mary Ross Gilbert we thank you as.

Molson Bloomberg Paul Sweeney Molson Coors Sally bakewell New Jersey Jeff Bellinger governor Murphy Denise Pellegrini Alex Steele Bloomberg radio Mary Ross Gilbert EU Molson cores Occidental Petroleum SAB Miller COVID
Fresh update on "bloomberg intelligence" discussed on Bloomberg Intelligence

Bloomberg Intelligence

00:30 min | 2 hrs ago

Fresh update on "bloomberg intelligence" discussed on Bloomberg Intelligence

"Has been in the financial markets There's nowhere to hide folks You can't hide in fixed income equities are down near bear market area here It's been very very toughness Past week has put another volatile week in the past week We had a lot of retailers report numbers and the margin concern became an issue with all this inflation out there which is a topic that we heard from our next guest often Gina Martin Adams she's Bloomberg intelligence equity analyst Gina thanks so much for joining us here We saw the retailers report this past week A lot of concerns that the inflation induced is inflation induced pressures are really pressuring margins That's a topic you've called out for a long time Talk to us about what you saw in those retailers earnings Yeah it wasn't pretty to say the least Paula really amplifies the trend that's been in the place of the market for several quarters now of just broadening margin pressure even more so on retail than most other spaces which is really frankly been the case for much of the last few quarters that consumer stocks in particular have been weak links in the S&P 500 But retail margins were even weaker than anticipated for the first quarter and certainly disturbingly to the market anticipated margin weaknesses going to continue all the way through the end of the year Analysts took down their forecast for operating margins in the retail space for second third and fourth quarter of 2022 So Gina that's the margin side but so far we haven't seen any top line problems like demand destruction which I feel like could be coming because the fed kind of needs that to happen for inflation to get tamped down Have we learned anything on that front We saw a little bit of mix shift maybe though I wouldn't I wouldn't go so far as to characterize it as true demand destruction What you should see at this point in the cycle is some deceleration in goods sales and some acceleration and services sales Or a little bit of a swap if you will in the dominance of those groups And that's affiliated with interest rates rising So we should see consumers in general and maybe we see this more amplified this cycle than ever before because of the unique characteristics of the pandemic But we should see consumers start to spend more on services going out to restaurants going to hotels flying around the country and around the world and the like As the pandemic concerns ease should they ease We should also see as interest rates rise consumers spend less naturally on durable goods autos and homes So we should expect that at this stage of the cycle We're not seeing a tremendous amount of evidence of a mix shift but I think we are starting to see that mix shift occur Now does that result in flow overall GDP growth That is certainly the question on everyone's minds So far the consumer generally seems to be hanging in there It's just they're not spending as much on goods at retail and to the degree that they are spending the retailers are spending a lot more to get those products on the shelf All right so we are in the midst of this pretty significant sell off Gina the S&P off at or near 20% ish range And I know you and your team do a lot of valuation work Is there a valuation for call to be made anywhere in this market It's a great question for the question It really depends on where interest rate skill for the most part valuation has been correcting and for some of the more overvalued segments of the S&P 500 still has plenty of room to continue to correct That said we really like to cite the equal related index within the S&P 500 It's currently showing a forward P E ratio just under 15 times That's now below long-term average valuation very close to where we see the market fairly valued Doctor value model leads heavily on interest rates and if you assume that the market is correct the two year treasury yield is going to have around 3% over the course of the next couple of years That 3% would imply you would be willing to pay roughly 14 to 14 and a half times forward earnings for the S&P 500 at large So we're getting close now valuations I don't think are any sort of magic bullet to find bottoms What I would watch for is some capitulation signals and unfortunately on those more technically oriented capitulation signals We're still not feeling it despite we're still not seeing any signs despite the fact that the market has been so brutal for so many and we're down nearly 20% We're just not seeing enough capitulation in breadth normal momentum to suggest we're quite outlaws Give me that same perspective Gina if you don't mind when it comes to tech though like if we sync capitulation in growthy tech and evaluations good enough No is the short answer Do you see tech is where we built up most of the bubble So when we look at things like let's take TMT as a big broad theme At our peak back in 2020 TMT as a share of the S&P 500 was about 40% It's down to about 36% of the market cap of the S&P 500 but it's income share of the S&P 500 is at 32% So that would suggest you've got 400 basis points of normalization to go there Even excluding some of the biggest names in the tech media and telecom space that would be excluding the Microsoft and the apples and the Facebook or meta and alphabets of the world the tech media and telecom sectors still trading above long-term average with below long-term average earnings growth prospects for the next 12 months So I would suggest that group still has quite a ways to go to normalized valuations Mostly because investors hid in this space for much of the pandemic as it was deemed to be the most stable and secure source of opportunity in the S&P 500 and now has really investors are really calling into question that theme A lot of folks.

Gina Martin Adams S Gina Bloomberg Paula Microsoft Facebook
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:11 min | Last month

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"On Bloomberg radio Well we've had most of the big banks report the quarterly numbers And I thought they were generally pretty good I know the comparisons are getting more difficult but the world's getting back to normal but let's get a quick review of what we saw from the big banks and what their outlooks are We bring in Bloomberg intelligence banks analyst Allison Williams So Allison we had the big guns the big U.S. investment banks report over the last week or so But what are some of your key takeaways So the key takeaways are that they are executing in a difficult environment They have tremendous upside to short term interest rates so that's exciting loan growth coming through especially on the commercial side That's great There is a rising risk of a recession So that's no surprise and that's something that can not be disproved obviously This quarter I guess on the negatives were the fact that many of the banks had sharper declines in their capital ratios than expected And this really relates to sort of an accounting impact that relates to long-term interest rates So basically long-term interest rates go up the value of their bond portfolios go down thanks to Basel three that runs through their capital ratio So it works out over time but we're going to get a little bit less buybacks in the near term but not as I said executing in a tough environment How about the trading environment Because that's been the Wall Street student link when we went into lockdown I said no way they're going to be able to trade from home I'm used to going out onto the trading floor Morgan Stanley or Solomon brothers and seeing hundreds of thousands of people trading all kinds of securities They can't do it from their couch but they did didn't they They did And this quarter again trading better than expected fick was really sort of the standout whereas last year it was really equity trading that came in a lot to the upside but equity trading also better than expected this quarter And so a lot of that really had to do with the volatility in the volumes in March So that was helpful Fees fell more than expected That was a big focus that we talked about going into the quarter But the surprise on the upside in trading really was better than the downside to fees That's the capital market side of the business The lending side of the business a couple of things net interest margin Interest rates are going up So can this finally be a good story for the banks It is finally going to be a good story for banks And that's really where I think we're going to be getting the upside in the coming months Some of the banks basically doubling their guidance in terms of looking at the upside just given where we've moved on the forward curve So this quarter we saw some positive benefit but keep in mind we only saw that rate rise coming in late in the quarter So I think the banks are really looking ahead And so that's really going to be a positive especially for banks like Wells Fargo and Bank of America That's kind of what I think of when I think of making those corporate loans commercial loans to small and mid sized businesses and the large corporate loans I remember over past quarters Jamie Dimon and others saying people just aren't borrowing as much as they typically do I guess it's because of all the stimulus that came into the economy are we going to see some loan growth here The stimulus has been what has prevented loan growth if you will but we have seen that starting to come back especially on the commercial side of things where beginning to see we began to see some positive signs in the fourth quarter We've seen some follow through on the card side of things is really where we saw some of the effects of the stimulus in terms of the fact that consumers are healthy They're spending But they're not borrowing They're spending and paying those loans back What we saw in this quarter were some signs that consumers could start to be borrowing A lot of that is in the private label side that we saw at Citigroup Synchrony Financial which is another credit card lender that focuses on those types of loans seeing sort of better growth So this is a type of consumer that generally has lower income lower credit limits So perhaps just those inflationary costs hitting the spending more and leading to a bit more borrowing All right my favorite topic when we talk about your big investment banks Compensation Everybody all the little animals out there getting paid lots of money I started in 1986 as an investment banking analyst 22,500 now the kids coming out of school to think a lot more than that I'm wondering is that kind of impacting the entire compensation structure So it is And I think there are three things I'd make note of there The first of which we did see at Morgan Stanley and Goldman Sachs a lower compensation ratio as compared to a year ago So keep in mind these are accruals because as we also know bonus is a big part of it So the accruals are a little bit lower that could be a signal that things are getting a little bit less competitive However the banks as we said good trading quarter on the pipeline the pipelines are still strong They're calling it a stall We'll see if the market window opens up and those deals come to market But still sort of optimism there But then the other couple of factors I'll point to is are just one There's been a cyclical trend We had record IPOs last year record M and a a lot of volume So it's obviously not surprising that compensation would be hitting new levels But there's also been years and years of structural sort of ignoring investment not investing in research Years and years of structural underinvestment in research And so I think that there's a little bit of a catch up So I think some of its structural in terms of lifting salaries which had sort of paused for a long time things becoming a lot more competitive and some of it is a little bit cyclical So we'll see how the year shakes out The great financial crisis 2008 ish the result of that was a lot of new regulation that limit some of the risk profiles for these big financial institutions and that had the obvious result of reducing.

Allison Williams Solomon brothers Morgan Stanley fick Bloomberg Allison Basel Citigroup Synchrony Financial Jamie Dimon U.S. Wells Fargo Bank of America Goldman Sachs
Fresh update on "bloomberg intelligence" discussed on Bloomberg Intelligence

Bloomberg Intelligence

00:32 sec | 3 hrs ago

Fresh update on "bloomberg intelligence" discussed on Bloomberg Intelligence

"To have delivery because you pay a fee via the third party delivery companies We're seeing people come to the restaurant and pick up through our to go And that's a cost savings Domino's is another chain seeing a jump in takeout orders Michael Halen is senior restaurant analyst at Bloomberg Carry out transactions which were helped by a $3 tip for carrying out your own order advanced pretty significantly So next time you order carry out online we're going to tip you for delivering your own pizza To yourself Kalen says reports of a shift intake out versus delivery are mostly anecdotal at this point but the scenario makes sense It's not too big of a stretch to say you know maybe instead of getting delivery we'll just go pick up the food and save X amount of dollars each time we do it Gina survey Bloomberg.

Michael Halen Bloomberg Carry Kalen Domino Gina Survey Bloomberg
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:19 min | 2 months ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"A 120 countries This is Bloomberg radio Now a global news update this is a special report the Russian invasion of Ukraine Russia appears to be pulling out all the stops on its invasion a senior U.S. defense official told CNN Sunday that the country is fired 600 missiles on its neighbor and they've also amassed 95% of their combat power inside Ukraine despite the show of strength the Russian assault continues to be slowed by the strong Ukrainian resistance the military convoy that is north of Kyiv also remains stalled and there has not been an update on how far it is from the city center TikTok is banning content posted from Russia the move was announced Sunday that users in Russia would no longer be able to post to the app in a statement posted to Twitter TikTok said the decision was made in light of Russia's new fake news law and the app will need to review the safety implications of the law before moving forward The hill reports Russia's fake news policy requires journalists to verify reports on the Ukraine invasion with official Russian government sources and prohibits the words war invasion and attacks This has been a special report to the Russian invasion of Ukraine I'm Chris karashi You're listening to Bloomberg intelligence with Alex Steele and Paul Sweeney on Bloomberg radio Thanks for joining I am Paul Sweeney Alex Steele is out today Well boy this pandemic has disrupted people's lives It's changed the way they do business is to change the way they learn and now we want to look at healthcare housing impacted our interaction with the healthcare system It seems like it's more and more digital every day I'm joined by Bloomberg intelligence healthcare analyst Jonathan Palmer Jonathan thanks so much for joining us here It feels like I'm doing more stuff on apps and things like that I'm doing telemedicine and all that stuff What are the key themes that you're looking at here as we come out of this pandemic and how it's going to impact your healthcare system Yeah thanks Paul So there's a couple of things that we hit upon in this telehealth and digital health report And I think there's a couple of key takeaways here You know the pandemic changed behaviors for everybody right And we couldn't go into our doctor's office We couldn't see our dentist You name it We had to find another way to do it to get our healthcare and what we've really seen is an explosion in terms of the use of digital front doors across healthcare And so that applies the lens is pretty pretty wide but it applies from everything from your doctor's visits to how we're using technology in areas like medical devices how we're doing clinical trials There's a digital front door to everything And so we kind of look through the lens of like well where is this digital really making the most change We focus on a couple of key areas And so you touched upon this idea of virtual care and telehealth and we see a massive change or sea change in behaviors due to the pandemic and the market really quadrupling over the next 5 years It's about 5 and a half million or billion today according to McKinsey We think it could be 20 billion And you're talking about the telehealth market how you define it or it's a little bit nebulous to be perfectly Frank what's telehealth what's a telehealth visit If you're using your app with your doctor what we're seeing though is that there's more and more telehealth being done and virtual care being done And another key point that we want to make when we think about that is that a lot of the managed care companies insurance companies are moving to this idea of virtual first And so at coming out of the pandemic we've seen a huge number of plans from UnitedHealthcare anthem Oscar Aetna you name it They all now offer some sort of virtual primary care And that's going to be the front door for you to get a lot of your healthcare going forward Interesting Now talk to us about second lower costs for the consumer do you think Well I think that's the plan That's the way that they're going to incentivize consumers to use it And so one of the ways that they're incentivizing people to actually use that virtual front door is by saying hey if you do your visit with your phone or your tablet or at your desktop there will be zero co pay And they're hoping to drive people into that channel with that incentive Are there some companies that are maybe a little bit ahead Maybe or maybe some sectors of the healthcare space Yeah so I'd highlight a couple So from a sector perspective I think managed care is getting a lot more interesting They're making a lot of investments They're going to be the consolidators of this industry Just like other industries look for where's the next growth engine managed cares look at virtual and digital and said okay who's doing this well Who can I buy And so we've seen companies like Cigna by MDY we've seen doctors on demand get sold in the public market space There's really two or three big digital plays the biggest one being Teladoc Which is the leading telehealth provider And then there's a smaller one and well Another way to think about it too though is there's also plays on this digital trend across a bunch of different areas in healthcare And one of the areas that we looked at in this report was med tech And when we think about the unmet needs and big chronic conditions things like diabetes things like cardiovascular disease there are some innovation in those areas that are tying devices and technology together to provide better outcomes and particularly one of the ones we looked at was around diabetes and continuous glucose monitors And that's got an opportunity to be a 1 billion 12 $1 billion market in the U.S. over the next couple of years And if it takes off in some of the emerging markets like China or India that could double or even triple So down in this healthcare report Jonathan is one of our leading healthcare analysts I see some really good tech contributions from the likes of Anna rog Ron who covers all things tech for Bloomberg intelligence And I kind of got me thinking a lot of these tech companies I'm guessing they're looking at the healthcare space that is kind of some whiteboard stuff here Exactly And so one of the things we've seen in the last two years is there's been two rather large acquisitions of what we would call maybe traditional tech companies buying healthcare assets So the first was Microsoft bought a company called nuance which does a lot of voice recognition and AI and machine learning around voice transcription And then the second really big one was Oracle bought the electronic health records company Cerner And so it seems like they're planting their flag a little bit more in the healthcare space I would say generally speaking big tech is looking to provide tools and services.

Alex Steele Paul Sweeney Russia TikTok Russian government Chris karashi Bloomberg Bloomberg intelligence healthc Jonathan Palmer Jonathan Kyiv Oscar Aetna CNN U.S. McKinsey UnitedHealthcare Twitter Paul Frank
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:27 min | 3 months ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"This is Bloomberg intelligence The new pools that are metaphors can bring allows you to create more immersive content Less oil more electrons In depth research and data on 2000 companies and 130 industry The supply chain breakdown is combining with labor shortages Eastern manufacturers continue to dominate or will there be a renewed interest in western manufacturers Bloomberg intelligence with Alex Steele and Paul Sweeney on Bloomberg Over the next hour we're gonna dig inside the big business stories and packing Wall Street and the global markets Each and every week we provide in depth research and data on some of the 2000 companies and 130 industries our analysts cover worldwide I'm Paul Sweeney Alex Steele is out today she'll be back next week Today we look at the business implications of Supreme Court Justice Stephen breyers coming retirement plus the global oil major uniquely positioned for Europe's guest crisis But first let's talk about beyond me They are rolling out a faux chicken sandwich at KFC Is this going to be enough to continue this growth story Let's bring in Bloomberg intelligence packaged food and retail Staples senior analysts gen bartas Jen thanks so much for joining us here Talk to us about beyond meat and I guess KFC That's a thing It is Really KFC has launched a national launch of their beyond meat fried chicken nuggets And this is really important for a couple of reasons For the first thing it is the biggest national launch that beyond meat has had at a restaurant chain And so we're really watching how successful this is because it's arguably a really critical milestone for the company's growth How much of their business to date has been selling to restaurants versus supermarket sales Well if you went back to before the pandemic the sales mix for beyond meat was really pretty even Just about 50% at food service and about 50% at retail But with the pandemic obviously that split greatly Because beyond these restaurant clients tend to be those that are more casual dining chains in places where you go and sit down versus fast food restaurants And so right now only about 30% of the revenue is coming from restaurants And that's something that they're looking to change with partnerships like the one with Yum Brands So during the pandemic did everybody buy more beyond meat like they bought a lot more of lots of other stuff in supermarkets because we were eating in Yeah it definitely was a boon for beyond meat and it was a competitive advantage over some of the other players that people think of impossible Because there had wider distribution at retail And so is everybody stopped going to restaurants and they started preparing more things at home They really bought more of those products in grocery stores to make it home But beyond meat has just relaunched a chicken nugget product which is also going to be is also at retailers at retail stores and is expanding But having that presence at a big restaurant puts it puts their brand back in the minds of consumers And so when people are out there and they see advertising where they try the nuggets at KFC the next time in the grocery store that marketing message stays with them and it hopefully will help them spur additional spending back at retail as well So if I'm beyond me do I have a preference from a profit perspective where my product is sold supermarket versus a restaurant Well it's really about having diversification of your revenue stream So from an actual profitability perspective there's probably not a huge meaningful difference But you want to have sort of a balanced portfolio of your products and where people are buying them And so that's why making a push into fast food chains which have been very resilient throughout the pandemic is an important next step for beyond meat There was also news that a pilot program with McDonald's for what's called the plant burger Is being expanded as well So this KFC national launch really is a way to kind of test beyond meat's ability to meet highest levels of demand on a national scale And so it's very promising to see these relationships with Yum Brands McDonald's emerging and really starting to gain some traction So is the overall market for I think I've read in your research alt meat I guess is kind of the market segment a sense of maybe how big it is what the growth dynamics are Right now that the size of the market is still quite small It is really placed for a lot of growth And really we're expecting that this market can grow to over $60 billion over the next ten years But what we're seeing right now is there was a little bit of a pull back in 2022 or 2021 as people started going back out to restaurants and there weren't as many sales happening in grocery stores But we do think that the revenue is going to rebalance and that the growth indicators are still there People are caring about what they're eating They want to have an environmental impact They want to have some choice in their diet and all of those things that the catalysts that we think are going to continue to push overall sales in the alternative meat category growing going forward Looking at the stock here off more than 60% over the last 12 months what's been the bear cases seems to have taken hold here Well really what's been happening is you're looking at a lot of skepticism on how well beyond meat was progressing with some of these key relationships And that's what makes the announcements from in January with KFC and with McDonald's really very important At the same time with the pandemic there were supply chain disruptions They had a fire or flooding at one of their facilities that we can their ability to meet orders So there have been a lot of things that have contributed to that play down in the stock We do think that there are some good things happening with beyond meat They also have a partnership with PepsiCo where they're going to be branching into snacking opportunities to further diversify their portfolio But there's been a lot of heavy investment in terms of R and D in terms of staffing that has been happening And so now it's at a point where I think investors are really looking for some returns on all of those investments and seeing sales start to grow and hopefully achieving fairly consistent profitability at some point in the.

Alex Steele Paul Sweeney KFC Justice Stephen breyers Bloomberg gen bartas Jen Yum Brands nuggets Yum Brands McDonald Supreme Court Europe McDonald PepsiCo
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:45 min | 4 months ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"For the tech stock darlings to perform They've got high growth yes but they also have high valuations Let's bring in Michael Casper equity strategist at Bloomberg intelligence Michael how do you guys think about the tech sector broadly defined here in 2022 which is going to be a year of rising interest rates Well one of the things that we're really focusing on now is the duration of the tech sector So duration is a bond concept that we're applying to equities Basically think of it as your time to get paid back your initial investment in this case for equities that your market cap from an estimate of future cash flows So we estimate those future cash flows using a somewhat complicated autoregressive process on ROE and book value And tech is the highest duration sector in the S&P 500 meaning that it takes the longest time to get paid back those cash flows and thus the most interest rate sensitive So again a lot of fund managers are saying I'm staying away from those I know I can get them I know they're cheaper than they were even 12 to 18 months ago but still tough to outperform Did they not score well for you Do you stay away from them Yeah we're starting to fade them a little bit The EPS growth for the tech sector isn't looking as great as it has in the past frankly typically tech stocks have outperformed the S&P 500 on EPS for quite some time And over the next few quarters especially throughout 2022 tech is expected to have an EPS led So you couple that with duration and you've got kind of a problematic setup for the sector How about is off tech created equal I'm thinking hardware software maybe even throw in maybe some of the more social media names whether it's a Facebook or a Google Not necessarily So that's one of the things we're focusing on a lot with clients is that long only managers are going to have to be invested in tech and so where do they go from here It looks like tech hardware is actually significantly lower duration than say the software counterparts which are the highest duration within the tech sector So within tech there is that nuance there where you might want to avoid some of the software names if you think that rates are going to rise pretty rapidly here Whereas tech hardware might be more better positioned than software Semis fall somewhere in the middle we did this on the industry group So there's only three but that means the right in the middle How about small cap versus large cap How does that typically perform from a tech perspective Again in a rising interest rate environment So it's kind of the same dynamic that we're focused on with clients within the industry is that we did this analysis on the S&P 1500 So the big half composite comprising the S&P 500 four 106 hundred the large and small portions And the small caps tend to be significantly lower duration than large cap portion The reason for that is that they contain significantly more hardware names than software names There's also a little bit of embedded modeling in there Such that the large cap tech sector has seen ROE expand at a rapid rate and this autoregressive process which I mentioned before is a mean recruiting process So what those ROEs rising pretty steadily over the past few years that's expected to mean whereas small and mid cap tech hasn't seen ROEs and book values rise as much So it sounds like some of the names that have been such really good winners for so many investors really arguably since a great financial crisis 2008 2009 I'm thinking about the Microsoft of the world the amazons or the world the apples of the world Those are high multiple stocks It sounds like they are maybe most at riskier For sure And the interest rate rising environment The valuations for the tech sector as a whole just give you some numbers Sit around 1.3 standard deviations above normal relative to the S&P 500 still This is from a report we published this morning So including the correction so far Excluding even Microsoft and Apple the tech sector is sitting on a 29 standard deviations above norms So it's still pretty extreme So once you see those multiples get a little bit close to average that might be the time to dip your toes back in because the growth in 2023 at least according to consensus is expected to still be good So you might want to wait a little bit longer for that valuation bottom And one of the things we've seen I guess just in these early stages of 2022 a lot more volatility in this equity market on the risk on market in general how does tech typically do in the volatility Is it going to be more volatile as well Typically stocks with higher multiples are going to be more volatile than those with lower multiples And this all kind of goes hand in hand with the duration team So stuff like tech will be more volatile than something safe financials which is lower duration More valuation or more favorable valuations within the tech sector So Michael let's look a little bit more broader here for the marketplace What are the one or two key issues you think investors need to be focused on and say think about performance in 2022 So we're really watching the fed if they have to get more hawkish than expected given inflation trends that could be another hit to stocks whereas instead if they maintain the current course kind of reiterate and instill some sort of confidence in their process It's probably going to help stocks kind of flatten out stabilize and eventually recover with earnings transfer Still pretty solid for 2022 as long as those don't come down We'll be in good shape in that scenario Inflation really is the key driver Talk to us about valuation I know you guys at Bloomberg intelligence do a lot of work on the valuation of the market and as we kind of get into the teeth of earnings season right here it's going to be a key issue How do you think about valuation So look at valuations both for history and especially on a sector context and then on the market cap context we're looking at the Russell versus the S&P for example We look at it in a relative context And small caps are very cheap relative to large And the value sectors the stuff like energy and financials which have actually done fairly well Relative to the rest of the market still have lower valuations compared to the rest of the index So looking at it both in the context first history and relative kind of gives you a good idea of where everything stands How do you think earnings are going to be Because in 2021 you know really easy comparisons we saw some really big earnings numbers in 2021 What's your outlook for this year Earnings growth is expected to be relatively stable in the high to mid single digits So nowhere near an earnings contraction in 2022 and a lot of that has to do with very difficult comps that stocks are facing from 2021 but also a little bit to be with inflation in the margin head debt Consensus that we see starting to ease somewhere around the second half of the year In the small cap space since I covered that as well Revenue growth is expected to be in the high double digits So 10% 12% pretty high numbers actually for extended recovery And for large caps that are expected to be around 10% as well So everything from the fundamental side is still looking good and as long as inflation doesn't seem to be a little bit more persistent and the fed doesn't crush growth The market should be in solid fundamental shape Hey Michael thanks so much for joining us really appreciate Michael Casper equity strategist at Bloomberg intelligence Coming up on the program we'll discuss why the hot U.S. restaurant IPO market may cool later this year You're listening to Bloomberg intelligence on Bloomberg radio providing in depth research and data on 2000 companies and 130 industries You can access Bloomberg intelligence via VI go on the terminal On Paul Sweeney it's 25 minutes past the hour and this is Bloomberg.

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"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:36 min | 6 months ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Is Bloomberg 11 three O now a global news update President Biden and China's president are set to hold a virtual summit on Monday It will be the first such formal meeting between the leaders of the world's two biggest economies They will discuss ways to responsibly manage the competition between China and the U.S. as well as ways to work together where our interests align Florida lawmakers are back Monday in a special session called by governor desantis to defy the Biden administration's vaccine mandates for larger businesses a measure expected to pass along party lines Desantis has called the mandates unconstitutional and an overreach setting up a situation where companies may have to choose between following federal or state law Florida is among several mostly Republican led states suing to block the new rules Thousands of Kaiser permanente employees are expected to go on strike Monday over what they claim are proposed wage cuts for new and existing workers Kaiser denies the claim a walkout would affect 366 KP facilities throughout Southern California That's the latest I'm Julie Ryan This is Bloomberg intelligence with Alex Steele and Paul Sweeney on Bloomberg radio You can't talk about supply chain issues without looking at the shipping industry I mean freight costs have just gone bananas this year Around record highs even if they've come off the highs a little bit they're still so elevated So I'm joined now by Stefan kovachev a Bloomberg intelligence credit analyst So let's talk about the freight industry Have we seen the peak How are they doing We are there We are at the peak Alex and we think it may get worse before it gets better I think a record freight rates are here because of a supply and demand imbalance On one hand we've seen finished goods which have been in demand on the back of the pandemic as people were saying at home and buying furniture As opposed to traveling and going to restaurants and on the other hand on the supply side there about 6000 container ships in the world and it takes two to three years to build a new one So we take time to add capacity which means that as GDP expectations for next year are strong We may see a continuation of these relatively high freight rates If I said something like we'll return to normal What is this new normal potentially look like I think as economies reopen we may be more tempted to go back to travel and spend more on entertainment as opposed to goods But I think the whole shift to buying online and just because it's more convenient as opposed to actually going into the store and the whole stay at home and work from home will be to some extent the new normal going forward So I think the supply chain issues may continue because of strong demand we've seen congestion at many ports et cetera So if demand remains strong and supply of new ships takes time to come on board it may be a very tense environment for freight rates in the coming year Do you think let's pretend like we could get all the freights we needed all the vessels we needed tomorrow Does that solve the problem Or is it really then also a port issue You're right Alex It's very much a port issue And we've had a variety of different bottlenecks built lack of truck drivers in the U.S. It may be up to 80,000 truck drivers which are missing So yes you're right Even if we have magically all the ships we need tomorrow the problem is that currently if we like the truck drivers we can't get the goods to the shops So there are a lot of problems which optically will reduce the number of available ships if they are stranded in outside of Long Beach for instance So yes there are a lot of other bottlenecks that need to be resolved And this will take time What do you think companies solution to this is going to be I mean our company is going to build their own vessels So they don't have to worry about this Some companies have tried to charter vessels and operate their own fleet But it's not that easy of I think it's a very complicated industry to operate It sounds easy as in the containers are very much standardized You put them on the ship and unload them at destination But in order for the companies to be profitable in this environment the ships need to be filled pretty much as capacity So if the ship is 80% full it loses money if it is 90% forward break-even and let's say 95% mix a good amount of money So I think the bigger companies are in a better place to make sure that their ships are full especially as we have this just in time supply chain that has been quite successful up until now Your credit analyst So what is the credit market telling you about the winners and losers in this space Well I think CMA CGM French company number three in the market has been one of the biggest winners so far And to put it simply because they have been more aggressive in the past in terms of net leverage in terms of debt usage But the way they have been positioned is that they have more exposure to more profitable routes such as Asia to North America And they have also bought a logistical company fever I was actually just before the pandemic which helped them diversify revenues and to an extent prepared for the pandemic So looking at the credit market the biggest gainers have been the lower rated players So CMA CGM is one half Lloyd is another high yield player Which has outperformed the investment grade leader in the industry which is marked Who is going to have a hard time keeping up Well I think that smaller players in the industry is a very fragmented industry CMA CGA I was mentioning number three player with the market share only about 12% So we've had the default of a Korean operator in back in 2016 and what happened back then was that the actual ports were not really keen to accept the ships of this operator because they were afraid that maybe they will not be able to pay the fees the docking fees that unloading fees et cetera So I think the bigger players are better positioned in especially at the industry becomes more competitive with more capacity eventually coming online maybe 2023 I think is size matters in such a small margin competitive and volatile industry I hear consolidation coming All right Stefan thanks a lot We really appreciate it Stefan kovachev Bloomberg intelligence credit analyst All right let's turn to the master himself Warren Buffett cash at Berkshire Hathaway is at a record Supply chains though are definitely going to wind up hurting different portfolio companies within Berkshire Hathaway So want to get a deeper take here I'm joined by a Matt Palazzo Bloomberg intelligence senior PNC insurance analyst Okay Matt so what did we learn about supply chains through Berkshire Hathaway Yes So it's interesting Alex the biggest impact in the third quarter was I think actually in their insurance business There are other operating businesses are certainly at risk in the next couple of quarters But what happened is inflation and auto parts has been a significant issue which I think we've kind of all heard about the chip shortage and different parts costing more And Geico.

President Biden governor desantis Biden administration Stefan kovachev Julie Ryan Alex Steele Paul Sweeney Bloomberg radio China Desantis Florida Alex Bloomberg U.S. Kaiser Southern California Long Beach
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:46 min | 7 months ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"This is Bloomberg intelligence We are really getting into now the streaming arms race This is looking at that and saying we can really build a nice niche for ourselves In this research and data on 2000 companies and 130 industry The dollar is the dominant content in the planet I think the acquisition is now turning progression of what Microsoft can do with this technology going forward Bloomberg didn't intelligence with Alex steel and Paul Sweeney on Bloomberg radio Over the next hour we're gonna dig inside the big business stories impacting Wall Street and the global markets Each and every week we provide in depth research and data on some of the 2000 companies and 130 industries our analysts cover worldwide Today we're going to take a look at how input and freight costs are impacting European industrials and their margin expansion Plus despite its small sliver of the engineering software market Bentley systems is well positioned to capitalize on infrastructure spending But first and it's only because it's me We're gonna take a look at a preview to oil earnings We got big oil and then we're gonna get the E and ps the expiration and production companies All as we have an energy crisis kind of bubbling up all over the world So let's break it down with Bloomberg intelligence senior energy analyst Fernando Vale Fernando oh he's a pleasure Pleasure is all mine Okay so before we get to individual names what's your macro take right now Well it's a very complex world that we're going through You mentioned the energy crisis And I think if you look just at oil as the stand-alone commodity you can't help but be bullish We don't have the capability to make up for the man as it was pre-pandemic and we're actually in some cases in the U.S. specifically surpassing pre virus demand And if you combine that with the fact that natural gas is at all time highs in Europe and in Asia And we can't really get all the LNG over to those destinations It really creates a setting for oil and gas to just benefit for the next 6 months The question is what happens with China You know so much of their GDP is tied to a real estate development and construction If that slows down how big of an impact will it be And then there's always the issue that oil prices are its biggest enemy right You're seeing already to impact an emerging market as demand starts to trickle down because of the rise in oil prices combined with weaker emerging market currencies All right Fernando we've got oil it over $80 a barrel It's been that way for a while now I'm just thinking about your shale companies In the past when we've seen oil move higher they just start digging holes in the ground Are we going to see that again Are they going to have some discipline here I think they can't help but have some discipline And there are two main reasons for it The first one is in some cases data just don't have The Rock They don't have the geological resources to go out there and get more oil And if you look at North Dakota the Bakken play there they peaked at over one and a half million barrels a day I think we're really going to be at the 1.11 .2 million barrels a day for the foreseeable future They really drill too much too fast And so there isn't the ability to get there back to those levels The second issue is you went through a wave of equipment retirement during the pandemic It takes time to bring some of those units back into work Some of them may not work at all And everybody's having issues with labor shortages And the oil patch is no different It would be hard to attract that talent back especially given the recent scarring from 2014 and in 2020 So that's interesting So if that's the case when these guys report is it just going to be a mountain of free cash flow and dividends Yes and no It depends on how you came into the pandemic If you're Conoco or Chevron yes you're going to see a wave of free cash flow because you came into this with a great balance sheet If you're excellent and Oxy you're going to get free cash flow but that's going to go back to paying down dividends You took way too much euphoria prices crash You didn't buy when oil was 30 $40 You did it at 80 90 And so you need to pay those debt holders back first And the dividend is going to lag All right so we're going to see some discipline out of some of these energy countries and companies How about OPEC just in general I mean it just seems like again oil north of $80 There's got to be some pressure building there Maybe from Russia some others to start pumping it out But it seems like they're disciplined there as well Yes Interesting Russia was never that discipline to begin with Okay So I don't think they will be for the foreseeable future I think the biggest question is Saudi and the UAE and they're starting to bring back production Can they stay at ten and a half million barrels a day as they did pre-pandemic I think that was never sustainable level to begin with So I think there are going to be much closer to capacity and consensus gives give them credit for So we may be building to a shortage Again as long as the main holds up supplies is not there to meet it in 2022 So just going back to the U.S. for just a second There's this really cool thing called ducks Paul drilled but uncompleted wells right Okay And it's basically you drill and you don't complete them and then when all of us in the oil price gets better you complete them It's no big deal It's not a lot of manpower We run those down a lot And I wonder like when these oil companies are going to be forced to spend money and increase production just to keep production flat because they've kind of pulled all the tricky lovers that they can You're exactly right and we were starting to see ducks flatten out and start to a slight build And I think the question is do we have the rigs and do we have the frac crews to get there And when you look at the Permian the Permian finally went above pre-pandemic levels in July I think you might not have enough completion crews right away You have to move them you know it takes time to get the equipment where it needs to be And I think you may have see a slight rise in ducks over the next couple of months But it's what I said Can you get the people and the equipment there to get the production that you need And really the only place you need it now is the Permian So wonderful I love for not open end of all Bloomberg intelligence senior energy analyst always good to get your perspective It's well okay I'm talking about book It's gonna be awesome It's gonna be awesome She's so fun All right coming up with the program Trucker sentiment keeps rates outlook in very high gear You are listening to Bloomberg intelligence on Bloomberg radio providing in depth research and data on 2000 companies and a 130 industries You can access Bloomberg intelligence through BI go on the terminal I'm Alex steel And I'm.

Alex steel Paul Sweeney Bloomberg radio Fernando Vale Fernando Bloomberg Bentley systems Microsoft U.S. Conoco North Dakota Asia ducks Paul Russia Europe Chevron
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:30 min | 7 months ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"This is Bloomberg intelligence We really getting into now the streaming arms race This is looking at that and saying we can really build a nice niche for ourselves Give that research and data on 2000 companies and 130 industry The dollar is the dominant content in the planet I think the acquisition is now turning progression of what Microsoft can do with this technology going forward Bloomberg didn't intelligence with LX steel and Paul Sweeney on Bloomberg ready Over the next hour we're gonna dig inside the big business stories impacting Wall Street and the global markets Each and every week we provide in depth research and data on some of the 2000 companies and 130 industries our analysts recovering worldwide Today we're gonna take a look at the sales lift from dermal dynamics Gulfstream lineup Plus Procter & Gamble was reaping the benefits from the pandemic recovery and work from home trends But first we want to welcome back a guest We haven't spoken to in a long time Eric belso Tunis Bloomberg intelligence ETF analyst Eric have you been I'm back He's back And it's nice to be back I miss you guys We miss you too So let's talk about Bitcoin meets mutual funds meets ETFs Where are we Here's the state of the race The first step of approvals probably going to happen in the next week or two And the first step meaning they're going to probably approve Bitcoin futures ETFs So this wouldn't be like a real spot Bitcoin tracker like GLD is to gold And the reason for that is because Gary Ginsberg the SEC just doesn't really feel comfortable with the 1933 act which those are filed under They have less investor protections than the 40 act But Bitcoin isn't security and the 40 act you can only file a fund that holds securities Thus the only way to appease gensler's desire to have a 40 act fund is to have Bitcoin futures The downside to that is that futures as you know Alex recovering commodities they expire So you have to roll to the next month and that rolling can be costly And so we're anticipating maybe ten to 15% a year of roll costs Now you would pay that if you did it on your own it's not like an extra hidden nefarious fee but that's just what happens when you hold futures I think that Bitcoin's so can be so potent in returns I think people will still look to use it and buy it It might become a trading tool for some But it won't be nearly the big hit that a physically backed Bitcoin ETF will be So again we say 75% chance that they will start rolling out over the next couple of weeks I leave a 25% chance because the SEC is pulled the football away Lucy style many times But in this case because gensler has signaled so much that he is okay with the 40 act we're pretty confident but I am factoring in that this is an unusual situation in 7 year story What is the demand out there for these ETF bitcoins It seems to me like it would be phenomenal And this is something that the U.S. needs to get really onboard with Yeah but it will be there will be demand but for example like up in Canada they have a Bitcoin futures ETFs and they have physical And the Bitcoin features one has less than 1% of the assets of this physically back one Now here there is no physically back So if the Bitcoin futures is the only game in town for say a year right I would see a couple billion probably going into it That's our guess which is pretty good I mean that's billions of dollars But relative to say the size of Bitcoin that's less than 1% of the market cap It's also less than 1% of annual ETF flows every year So maybe it'll be higher maybe lower I've got some side vets going with other analysts to some it will be even less than 4 billion I think I'm underestimating if anything but the thing is advisers in particular who these ETFs are mainly for They don't really like derivatives And so they may hold out and continue to hold out for the real deal or go to coinbase or something and just buy it directly Now their services that help advisers just buy Bitcoin and crypto directly So those other ways that it's been easier to buy crypto are also a factor in our sort of underestimating of that 4 billion That said the crypto community is clearly excited They get excited for everything So they're pumped up They think there's going to be a big catalyst event Sure Possible to sell the news kind of event to be honest What about roll costs Yeah I mean again we're saying ten to 20% a year is probably a safe estimate as more money comes into this Is that a lot Is that a lot Yeah I mean I think it's healthy There's other commodities the roll cost is very minimal like gold And there's some that are crazy like vix vix could be 40% a year Oil has sometimes been 40 So I put this in the medium category ten to 20% but it's possible the roll costs are worse when people are optimistic about Bitcoin Because then obviously the curve would slope up But the idea here that you would be buying more expensive futures out would mean people are bullish on Bitcoin which means your fund is up So perhaps the roll cost won't be as annoying when you're up a lot anyway Versus when you're down and then you're hit with roll costs which can sometimes happen in oil Talk to us about a Bitcoin mutual fund I thought something was launched recently Did that get much traction No And this is also why we are kind of a little pessimistic about the possibility of the assets for these The Bitcoin futures mutual fund launched two and a half months ago from pro funds and it only has $15 million I mean that is really low Now I don't know The mutual fund rapper is just out of vogue People don't want it things in a mutual funds anymore So we're trying to suss out whether it's the mutual fund or the futures We think it's a little both but probably more than mutual fund but that was a bad sign That said the fact that gensler approved a future is mutual fund because it's under the 40 act gave us the confidence we had to make our 75% prediction because honestly in ETF and mutual fund first with the same thing one just trades on an exchange Thus the fact that he approved that is why we think he will have no problem where they will have no problem of proving the same thing in an ETF wrapper But yes that was a bad sign Eric thanks a lot It was really getting her your voice Eric bell tuna Bloomberg intelligence ETF analyst.

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"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:25 min | 8 months ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Bloomberg intelligence with Alec Steele and Pulse Sweeney on Bloomberg Radio. All right, most of the world is reopening most of the world is trying to get out more and more and do more things, including grocery shopping. So what does that mean for the online food delivery business? Got to be tough Cops coming up for those folks? Let's take a look with Diana going. She's a consumer analysts for Bloomberg Intelligence, Diana, Thanks so much for joining us here, I got to think there's gonna be some tough comparisons for the food delivery business is give us a sense of how they performed. During the pandemic so far, and kind of what's the outlook? Sure. Yes, you are absolutely right. So during the pandemic in 2020, we saw orders growth more than doubling for some of the companies so really strong growth, So that's a very tough comparable to come to this year. However, the first half so far, companies reported quite a good level of orders and clients still joining the sector as there's still potential for Food orders to move from the telephone so offline into online apps such as the likes of Doordash and us and deliver here in the UK Just take away Do we were hero globally, etcetera, so definitely a tough comparable But we are seeing a delay to whatever the normal will be. We still don't know. But there's definitely a delay because of the delta variant of the 19 virus, so there's still Some restrictions. But definitely the third quarter will be a key time to understand what's going on for the rest of the year. So Diana could just give us a sense of like how big this food delivery business is. I mean, are certain parts of the world. Have higher percentage of the food delivery versus other parts of the world. How do you segment this? This food delivery market? There are some more mature markets than others, So definitely The US the UK Even in Asia. South Korea are strong, mature markets where online for delivery is when we look at grocery shopping is as doubled last year. So in the order of 10 15. Percent in some of the older markets. Let's say legacy markets where the e commerce as been growing for quite some time. We see some sectors reaching 20% share. Of all shopping, so there's definitely a lot of potential and it was The pandemic accelerated the consumer trends right by a few years, so it is not like we were not expecting to get to these levels. It just came much faster, so now companies to succeed and to have a path to profit, which at the end of the day Is a driver off long term success right? Because there's still cash burn into sector but to succeed, they will need to retain the clients that they acquired through the pandemic, And so far, it's encouraging to see that the New claims that joined the so called cohorts of 2020 actually are ordering more often than the clients that joined in prior years. So so that that's an encouraging trends. One of the questions I have just about the business is the competitive nature. It seems like the barriers to entry are pretty low. I may be a successful delivery service in my town and my city. But what's the stop somebody from just going out and hiring a bunch of drivers and just undercutting me on prices? Seems like the competitive landscape and pricing would be a real challenge. Yes, that's his correct to some extent, so to accelerate growth at the sales level at order level, it's easy. We have a lot of money in our pockets so we can continue to see Iowa discounts and vouchers which attract consumers seem even people that could be a bit rural acting to do it, But I mean, you are offering me free food and leaving it at my door, so I'm not So that there's definitely potential to see a lot of growth for especially for the smaller players right to go and grab share from the legacy. Players like just you take away, for instance, which has been in the market for kids. Now we are seeing this reupped er companies coming in and just shaking things up since about 16, so it made the like companies adapt their businesses so that they can served Popular High Street restaurants, for instance, and now going into getting groceries from local shops as well as little as 15 10 minutes, But it is a very costly endeavor so and money doesn't last forever. It is quite a race at the moment. All right, Diana, Thank you so much for joining us. We appreciate kind of getting update on the food delivery business as Diana bones. She.

Alec Steele Diana Asia UK 2020 Bloomberg Bloomberg Intelligence last year first half 15 10 minutes South Korea Iowa this year US 20% share Sweeney 10 15. Percent Pulse One of about 16
Amazon Considers Buying Movie Studio MGM for $9 Billion

WTOP 24 Hour News

00:56 sec | 1 year ago

Amazon Considers Buying Movie Studio MGM for $9 Billion

"After 18 tease Warner Media and Discovery agreed to merge Amazon, maybe looking to boost its streaming service and its biggest push into entertainment yet by considering buying the nearly century old MGM movie studio. Of course, this is an e commerce giant. But yes, they have always been fairly serious about their streaming aspirations, Bloomberg intelligence, technology and media analysts, Geeta Ramanathan says. Streaming has helped Amazon acquire new subscribers and make it a real competitors toe other streaming services owned by Legacy TV and movie studios. I think they're taking streaming really, really seriously, and they have the deep pockets to support that ambition. But will consumers eventually tap out of so many streaming services? City University of New York journalism professor Jeff Jarvis says. Maybe they're trying to remake New age cable companies again and at some point there's just a limited amount of money we're going to spend. Until then, consumers have plenty of Streaming options to scroll through

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Chip Crisis in 'Danger Zone' as Wait Times Reach New Record

Marketplace with Kai Ryssdal

02:05 min | 1 year ago

Chip Crisis in 'Danger Zone' as Wait Times Reach New Record

"Our lead story today is one of demand and supply in that order. The commodity in question is semiconductors. The demand as we'll explain is nearly universal the supply well it's lagging and more so every day bloomberg got its hands on some data from the susquehanna financial group that says if you order a chip today the aforementioned semiconductors you're going to have to wait seventeen weeks for it to be delivered. Four plus months that is to put it mildly no way to run a supply chain. And as marketplace's samantha field reports. It is doing damage to way more than cars or computers or smartphones. These days almost everything has a chip whether we think of it as high tech or not. If it has a plug or battery probably has chips in it glenn. O'donnell research director at forrester says that includes refrigerators video. Doorbells and light bulbs you can turn on with your phone and even lower tech things like kids toys because all the toys gotta talk now and they got to react and they have little motors right. Now there's a shortage of all kinds of chips. Even the most basic ones says china vasan an analyst at bloomberg intelligence for. It doesn't matter if it's one hundred dollars or fifty cent part. There's just not enough capacity at factories around the world to meet the demand from all of the industries. That need chips because there's such a shortage. The semiconductor industry is having to pick and choose what to prioritize says. Mario morales at market research company. Idc it's for prioritizes. The large scale lear is like computing. Mobile phones is the largest market so though supply chains are always going to get priority and other companies especially smaller are going to have to wait longer for chips so shrine of austin at bloomberg says if you need something like a new appliance anytime soon even if you don't care about it being smart all of those products will be in. Short supplies are investigating line and shrim- boston says the shortage is likely to get worse before it gets better

Samantha Field Vasan Bloomberg Bloomberg Intelligence Donnell Forrester Mario Morales Glenn Motors China IDC Austin Boston
Microsoft Exploring $10B Acquisition of Gamer Chat App Discord

Techmeme Ride Home

02:59 min | 1 year ago

Microsoft Exploring $10B Acquisition of Gamer Chat App Discord

"I sources began to report late yesterday. That discord was exploring a sale of itself seeking evaluation of ten billion dollars or so then bloomberg reported that it was microsoft was in advanced stages of negotiations to maybe by discord for about that exact ten billion dollar target range but also that discord is maybe more likely to just go public and test the waters itself quoting bloomberg. Actually you'll note there tempering. Their initial reporting here a bit quote discord has been talking to potential buyers and software. Giant microsoft is in the running but no deal is imminent said the people who asked not to be identified because the discussions are private discord is more likely to go public than sell itself. One person said representatives for microsoft and discord declined to comment venturebeat reported earlier on monday. That discord was engaged in sales tax microsoft. Which last year sought to buy social media app tiktok and held talks to acquire. Pinterest has been shopping for assets that would provide access to thriving communities of users. According to people familiar with the company's thinking microsoft's xbox business has also been expanding the suite of subscription perks. It provides as part of its game pass offering microsoft shares. Were up about one point. Two percent in the first minutes of trading tuesday quote microsoft possibly acquiring discord makes a lot of sense as it continues to reshape. Its gaming business. More towards software and services said bloomberg intelligence analyst. Matthew kanter men. There's a big opportunity to bundle discord premium nitro into the game. Pass service to drive more. Subscriptions from last reported number of eighteen million and quote after microsoft's recent seven and a half billion dollar purchase of xeni. Max media owner of the elder scrolls and doom publisher bethesda software and acquisition of discord with signal the redmond washington-based software giants willingness to keep investing in its video game unit and quote. Yeah integrating discord deeply into xbox stuff does make a ton of sense. Although i think they could make an exclusive wall off discord as something that you can only get if you do x. box but also the larger narrative here is that microsoft keeps trying to acquire social networks. Tick tock pinterest. And i keep hearing that one of the motivations for that is to get them all on a juror is that they've invested so heavily to build out this cloud infrastructure that they need big projects to justify their existence. That was always what i heard about google getting into cloud gaming but can this be true. Can someone smarter than me. Explain the economics behind that theory but also discord apparently runs on top of google cloud. So i guess there is value in kicking one leg of the stool out from under your rival right. Maybe google cloud is so far behind and week that its rivals. Maybe think they can strangle it in the crib

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Cathie Wood Making Stock Picking Popular

Odd Lots

04:50 min | 1 year ago

Cathie Wood Making Stock Picking Popular

"So tracy here's something that i never thought i would see again so i i started following markets in the late nineties The dot com era and something that i never thought i would see again in my career after that ended was the superstar fund manager. Okay why is that. Well the actually totally true. What i mean is more the superstar stock picker because of course back. In the old days there are a lot of like star stock stock pickers fund managers. You know Peter lynch comes to mind some of the other tech investors back then but these days with et fs with online brokerages that make it really easy for individuals to buy stocks on their own. It really sort of seemed to me like that era had gone bright so i suppose there was this idea that the time of stock picking has come and gone and that if you want to make returns in the market you should just poor all your money into something like an s. and p. five hundred. Etf like a vs tax or something like that and just stick with it and don't bother trying to outperform the market because over a longer period of time. Even the best stock pickers had eventually underperformed. Right i think this mantra of don't try to pick stocks. A if you try to pick stocks. You're probably going to underperform the index and be if you come across a mutual fund or a fund manager. Who's good at picking stocks. Oh it's probably just luck it's not going to last too. You know even if even if there is someone who can beat the market. How are you going to know whether it's actually worth putting your money with them until like this idea that everyone should just index Trying to beat the market is kind of a lose lose proposition. It's really been drilled into people's heads. And i think like you know for years. They're really we just haven't had a sort of another new peter lynch or buffet. There's star quantum maybe some bond fund managers who are known but the idea of like someone who is just really associated with a great track record of picking individual stocks. Hasn't been a thing for a while and yet and yet a star stock picker emerges over the horizon. Yeah executive obviously that really That for the first time in a long time there is currently a fund manager a stock picker who is a mess and incredible track record an incredible following. And of course. We're talking about kathy. Would she is the ceo and chief. Investment officer of arc invest and there is a total fascination with our and this family of actively traded. Etf a phenomenally well in terms of returns but also ex Attracted an extraordinary amount of investor cash in the last couple of years right so the arche t fs. I mean i'm looking at their performance. They have five different semantic portfolios alone. Ch- that have basically doubled over the past year. Which is pretty amazing if you think about it. It's amazing enough for just one stock to double in price like that in just the space of twelve months but to do it across multiple is really remarkable and i think within their actual portfolio. There's a tiny tiny number of stocks that haven't risen recently. And i'm not even sure there are any actually. It's a really amazing. Performance is really sure to actually. I'm looking at the end of twenty twenty for twenty twenty their performance of a r k. Which is the sort of flagship innovation. Etf that arc has was up one hundred fifty two percent for the year Extraordinary returns and if you look at the holdings they're just all of the companies that have absolutely killed it in the real environment. Tesla is the biggest one but other names square. The payments company phenomenal roku huge winner. Zillow spotify tele doc. Which of course had an incredible year. Thanks to the rise of rome medicine and so forth so it is a Just extraordinary number of winners that this There's a fund and the related funds. There's a related fund for finance and Medicine that have That they've brought it. Just the triggers incredible. If anyone follows. Eric balchunas who's sort of bloomberg intelligence is etf analyst. I feel like three quarters of his tweets. These days are just about. How extraordinary this Family of funds and the performance of arc invest has been lately.

Peter Lynch Tracy Kathy Tesla Zillow Eric Balchunas Rome Bloomberg
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:12 min | 1 year ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Thomas's commitment to excellence has earned her a spot on the officiating team for the 55th Super Bowl on Matt Matt Johnson. And I'm Annabelle Drool is in Hong Kong. Hear the sounds, top business stories and the markets President Biden once a different relationship with China than that of Donald Trump, But he hasn't spoken with the Chinese leader Xi Jinping so far, but Annan says talk to numerous heads of state since taking office, including Vladimir Putin in Russia. But Biden says he hasn't yet had the occasion to talk to she. China has published rules to root out monopolistic practices in its Internet sector. Sharing sensitive consumer data and subsidizing below cost services will be restricted as we're using alliances to squeeze out small arrivals. The new regulations take effect immediately. Million Ma citizens stage the biggest protests in years. On Sunday, tens of thousands of people called for an end to the military coup. Civilian leader Aung San Souci was detained last Monday. The U. N described the situation as a quote unfolding crisis. Elliott Management is reportedly meeting with bankers to raise $1 billion to create a special purpose acquisition company or SPAC. The hedge fund is known for its activist shareholder campaigns. Dow Jones says the process is at an early stage and the plans may change. Elliot could use this back to buy a company potentially with double digit billions looking at markets and Japan is certainly the stand out here. Training it hides we haven't seen since 1991 at more than 2% bucks in China, also strongly higher up 1.5%. That's ahead of the Lunar New Year holiday. The Cosby meanwhile, fairly flat to stock so we are watching their today human diet. Trading down about 4% Kia down around 12%. There was speculation that those automakers were in talks with Apple to reduce self driving electric vehicles that's now being quashed brain crude. Meanwhile, also rising heavily in the commodity space Training just blew 60 bucks about Global news 24 hours a day on it and on Bloomberg quick take power by more than 2700 journalists and analysts in more than 120 countries in Hong Kong. I'm Annabelle rulers. This is Bloomberg. These used Bloomberg Intelligence,.

China Hong Kong Biden Bloomberg Annabelle Drool Donald Trump Matt Matt Johnson Xi Jinping Bloomberg Intelligence Vladimir Putin Aung San Souci President Russia Annan Thomas Elliott Management Dow Jones Japan
Netflix Tops 200 Million Streaming Customers, Handily Beats Q4 Subscriber Forecast

Bloomberg Daybreak: Asia

00:59 sec | 1 year ago

Netflix Tops 200 Million Streaming Customers, Handily Beats Q4 Subscriber Forecast

"Netflix attracted about 8.5 million new customers in the final quarter of last year Total subscribers past the 200 million subscriber mark for the first time. Netflix was helped by hit shows such as Bridget in and The Queen's Gambit. Another milestone is that the company no longer needs to borrow money to fuel its expansion. He is Geeta Reagan, Nathan off Bloomberg Intelligence. So remember, for the longest time Bears have said that? Well, yeah, they might have subscribers. But they're burning so much of cash. In fact, they burned over $3.5 billion of cash in 2019, and that has always given so much of ammunition to the bears. But for the first time that six coming out and saying that they expect to be free cash flow positive on a sustainable basis, and I think that's really what is driving this huge increase. And Netflix is also considering stock buybacks. That's something that hasn't been done in about a decade. In after hours trade

Netflix Geeta Reagan Bridget Nathan Bears
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:25 min | 1 year ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"They're trading in and out of it more than the air. Perhaps so I think the retail retail jump this year and obviously the mouth of the volatility that we saw in March is really driven to a big uptick in each of trading. Well in that trading. What percentage? Are we today of kind of being a retail product versus an institutional product? How's that changed over the years? It's for sure we tell it's starting to pick up. You do have the big behemoth still do control, you know, do represent most the trading like spy like a tragedy, But with something like this dramatics, for example, or like the Bitcoin trust more that is retail German, So you are seeing retail pick become a bigger portion off the other each of trading, but it's still Some of the big ones. They're still really dominated by the institutions, but retails for sure, picking up pretty good portion. Thank you. The whole other segment we used to do about the risks to all of that, particularly when it came to say that E T ends and oil back and April, all right, But we're leaving for there, but we'll definitely get you back to talk about it up in ASIO. So Sarah Vegas. Thank you very much. Bloomberg Intelligence CTF analyst well, switching our focus to natural gas. It's on the road to a broader recovery to break it down. Let's welcome Bloomberg Intelligence senior industry analyst Vince Piazza. Events. I know again when I think that gas I think that it's Vince Piazza. What's driving the market here for natural gas? Hey, thanks, Paul. Um so I think there are two things here, right? The general fundamental outlook. Is going to strengthen. We believe you have a production that is tracking lower year over year and this will likely continue into 2021. Production right now is tracking down four billion cubic feet a day relative to last year, and we think that will continue into 2021 because less capital is being invested in not on Lee Dry gas but also overall on the oil side, which means Lower oil output less associative gas output from liquids drilling. Not only do we see lower output We also see a more resilient demand picture even with Cove it so we think about demand. You think about LNG exports and also Consumption within the lower 48 LNG exports, plus pipeline flows into Mexico are up roughly 4.7. Million cubic feet a day. That's huge, and it's even more significant relative to what we're seeing because of Cove it here in the U. S. You obviously have lower commercial consumption because of less business activity that's slightly offset by Residential consumption being higher because of work at home initiatives. Um and you also have slightly lower industrial demand, but overall, Paul when you think about the longer term trajectory For natural gas. I think there is a structural shift, and that is a positive shift as power. Jen uses more natural gas as the industrial side uses more natural gas, so the outlook near term and longer term is more favorable relative to oil. In my view, the march April spread. It's been knows The widow maker is basically a bet on where we're gonna end up after the winter season, so it's basically a better how cold it's gonna be. That's not been good. It has his earned his widow maker label yet once again, um Is that the right trade Anything that's that's legit. Well, I will tell you this earlier in the season before we kicked off the traditional winter season in November, the strip was well well above three bucks We traded down to below to 40. We're now somewhere around 2 70. Quite frankly, the peak winter season really hasn't hit yet. We're talking about January and February, and I think those two months Barkey in fact, all off the winter period is key for natural gas for the entire year. And there is a 6 to 8 week window, which is super critical, But I think, Alex what we talked about earlier about this structural shift. I think it remains in place. I think to see that winter shrimp somewhere around 2 70 right now, with the bulk of winter in front of us, I think is a positive. I think what you're going to hear a sui go into 2021 earning cycle is much more capital discipline. It's always good to catch up. Super appreciated Bloomberg intelligence in your industry analyst Vince Piazza. That's this week's edition of Bloomberg Intelligence on Bloomberg Radio, providing in depth research and data on 2000 companies and 130 Industries. And remember, you can access Bloomberg intelligence through B. I go on the terminal. Um Alex Steel..

Bloomberg Intelligence Vince Piazza analyst Bloomberg Paul Jen Bloomberg Radio Alex Steel Mexico Sarah Vegas Lee Dry
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:30 min | 1 year ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Here each and every week at this time tapping into our Bloomberg intelligence analysts covering some 2000 companies and 130 Industries worldwide. Well, our next guest writes that Disney may upstage Netflix with a projected global subscriber base of 303 150 million by 2024. Hoping to break us down is a Bloomberg intelligence. A senior industry analyst. He did back in Austin. Okay, Dicky to give me your How can they meet the goal? How impressive is it? Can they really unsee Netflix? Um, yes. Thank you, Alex and Paul for having me so I think they can. So they had an investor event. Just recently. They came up with you know the most. I think they actually surpassed the most bullish of expectations. In terms off, you know, subscriber estimates and the three things that I think people were really looking for was one was subscriber scale. The next thing was content and they haven't absolutely, you know, killer content pipeline. The third thing that they showed us with pricing power, and they checked all those three boxes, and it doesn't stop forecast so for their Disney plus product they had initially projected 60 to 90 million subscribers. 2024. They're already there in one ear Ondo that actually propelled them to kind of take that Disney plus subscriber number two almost closer to 50 million. And then for all of their products, which is Disney, plus ESPN. Plus as well, as who, Lou, We're kind of at that 303 50 million Mark. It was not just the subscriber numbers. Alex and Paul. It was just It was also the past about how they would reach them. And they had this really impressive area off new content. They announced 100 original shows and films. I think that's kind of what really drove tremendous investor confidence. Yeah, I'm just looking at the chart here. I got the Bloomberg price chart for the stock going back to the beginning of Mickey Mouse. And this stock is at an all time high right now, And that is just extraordinary Geetha because the pandemic has really crushed the operating profitability of this company. But I guess it's all about streaming now. Is that not the case? It is absolutely all about screaming. I mean, nobody even seems to worry. And they're being decimated in terms of all of their core business operations. You looking, you know, theme parks, of course, the worst hit You know, they couldn't put this film's out in the movies in the cinema for the longest period of time. The TV networks were hurt because of no sports, but none of that matters when you have a product as Successful as as Disney, Plus and and really, we're looking at investors kind of willing to take that leap of faith. Just if you look at that price and and then the valuation right now, people need to dump Netflix or Amazon prime and go by Disney, or is there room in the market for all the players? I think there's enough room in the market for both. I mean, obviously, they have totally raised the bar on. I mean, raise the bar not just in terms of their subscriber projections, but also in terms of content spending. So We're now projecting that they're going to spend about $15 billion of content on all of their director consumer services by 2024. Now that should really make any sub scale player. Pretty pretty scared, but I think it also what it does is it is it enhances the total streaming by an A Z. We've talked about many times streaming is not a zero sum game. There is Room for multiple players to survive and even thrive, But I think it also pointed to the fact that there will be a little bit off a shake out, especially if you're one of those sub scale players so Definitely room for Disney, Netflix and Amazon. But then if you were in that second or 30 years, then they're probably going to be getting a little bit nervous. So, Geetha, I noted that you know some of the reports coming out of the investor conference that the company It didn't seem to really change their path of profitability for you know, they're streaming businesses, and I thought, maybe with their better than expected subscriber numbers, we would get there a lot sooner. What's the story there? And so the story. There is an order to drive those subscriber numbers, and it's really a massive subscriber target that they're chasing here. They also need to invest a lot lot more in content, so they were initially planning to invest about $4 billion in the Disney Plus Service. That's now going up to almost $9 billion, so they're doubling their content investment. In business class and and, you know, you should just kind of look at their content Pipeline that tells you why you know they have 10 Star Wars series 10 Marvel series, seeing live action and animated film. It basically 100 new original shows and films. Coming out every year. So you're absolutely right, Paul that you know it's a similar ramp in earnings because they're not expecting to break even on the Disney plus service before 2024. But I think the positive there is that there's just a much more massive streaming asset with a much bigger, you know, not just a subscriber base, but also revenue potential, and that's kind of driving that. Share price and that investor confidence by Bloomberg Intelligence, a senior industry analysts get to recognize them. Thank you very, very month coming up on the program why E. T s could take in $600 Billion in 2021? You're listening to Bloomberg Intelligence on Bloomberg Radio, providing in depth research and data on 2000 companies. 930 Industries. You can access Bloomberg Intelligence through B, I go in the terminal. I'm Alex deal. Don't Paul Sweeney. It's 39 minutes past the hour, and this.

Disney Bloomberg Intelligence Netflix Bloomberg Paul Sweeney Alex analyst Dicky Amazon Bloomberg Radio Austin ESPN 930 Industries Lou E. T director Successful
Pence touts plans for quick vaccine distribution, meets with CDC in Atlanta

Bloomberg Intelligence

00:48 sec | 1 year ago

Pence touts plans for quick vaccine distribution, meets with CDC in Atlanta

"Mike Pence, is touting apparent upcoming distribution of a covert 19 vaccine, but says we are in a challenging time. In the course of the pandemic. We're also in a season of hope. Be as we are maybe just a week and a half away from what will be the likely approval. The first Corona virus vaccine. Pence met with the Centers for Disease Control in Atlanta to discuss the current status of vaccine development. If the Food and Drug Administration grants emergency use authorization of the mud Darren of vaccine when they meet December 17th. Thousands of doses could be shipped out across the country. According to the New York Times. Injections for Americans could begin as early as December, 21st. The

Mike Pence Pence Centers For Disease Control Food And Drug Administration Atlanta The New York Times
The U.K. became the first Western country to greenlight a coronavirus vaccine

Bloomberg Markets

00:40 sec | 1 year ago

The U.K. became the first Western country to greenlight a coronavirus vaccine

"The day. The UK is the first Western country to approve a vaccine against the coronavirus with emergency clearance of Fizer and buy on Tex shots. Prime Minister Boris Johnson the vaccine Will begin to be made available across the UK from next week, and Bloomberg Intelligence senior farmer analysts Sampas Ellie says there is no reason to think any corners were cut with approval. I understanding is that older regulated that'd be working together since a two least two maybe even earlier. Looking at these data looking at these vaccines, looking at manufacturing processes and working hand in hand with the companies to try and get this to people. Assassins possible Drug administration could follow up with its own emergency approval a week from

Sampas Ellie UK Boris Johnson Bloomberg Drug Administration
Bitcoin jumps to all-time high as enthusiasm for crypto grows

Bloomberg Markets

02:19 min | 1 year ago

Bitcoin jumps to all-time high as enthusiasm for crypto grows

"That. Let's switch gears to another big security. That sister moving an asset that's been moving in. That is our good friends at Bitcoin of looking at it right here, 19,000. 315. It had touched intraday high 20,000 just recently, little bit little bit of a pullback here, but it's just had a just an extraordinary run here since September since March, Anyway, you look at it. The graft just looks amazing. Mike McGlone. He actually understands what's going on here. I admit, I really don't. That's why I turned to Michael. We have big days like this Michael Clone. Commodity strategist for Bloomberg Intelligence. So, Mike again the graph I'm looking at here, the trailing 12 months graft just extraordinary. Here. Just this last run since they let's say, September we were down to 10,000. And here we are pushing 20,000. What's the driver here? Yes, Paul certainly shows good charts. What's really happened? I think in the last few months is the markets come around to this is the virus isn't going away, and it's becoming part of institutional portfolios. Michael Strategy making mate made a major Alka Kate allocation squares involved. We have people that stand Stanley Druckenmiller and Mexican billionaires. Key point is well, it's a key point is, you know I look at the Mexican peso is it's dropped 50% versus it down in the last 10 years, so people need to diversify their their holdings wealth on it on a global basis. So from American standpoint, Yeah, you know for us, you know, money is kind of like water is to a fish. But for the rest of the world, Bitcoin is somewhat of a savior. It saves people from currency to basement. And then we have the shorter term. You know, the indicator that Papal really brought it to the masses in this country. I I just tried it out to just buy a small like $100 worth. It was so easy and so cost effective. I was shocked. So about this going is it because central banks have started taking it seriously now that these big investors will finally jump in? Well, that's that's part of the unique part of it. The supply is very limited and demand it actually increases with higher prices. So right now it's total market cap is about 357 billion. That's not big enough for central banks and for a lot of large entities. But asset increases it moves into that space. That's the unique thing about its long as it's not, too of Noxon Dent's orderly, the bigger it gets more likely central banks can hold it. There's one key central bank on the planet that's probably allocating big kind of writing. That's

Mike Mcglone Bitcoin Michael Clone Stanley Druckenmiller Michael Bloomberg Mike Paul Noxon Dent
Salesforce is in talks to buy Slack, deal could be announced next week

Bloomberg Daybreak: Asia

00:56 sec | 1 year ago

Salesforce is in talks to buy Slack, deal could be announced next week

"Fools considering acquiring workplace chap to slack technologies So to say the companies have been holding talks and could announce a deal as soon as next week. I'll write. Garana of Bloomberg Intelligence says the deal would help both companies compete more aggressively. It always made sense from a strategy for interview because you know slacks been losing some market share from Microsoft on this would give a sense, forcing entry into a very lucrative and very important market. But what it makes, you know, in our view, most sense financially is Its sales force decides to pay for this thing, using stock and not cash, And that's because sales force own valuation has gone up quite a bit over the last six months. And you know they have very good currency that they can pay with and you know, that's I think if it's done to stock to us, and I believe to investors also would make a lot more sense.

Garana Bloomberg Intelligence Microsoft
Retailers get creative to reinvent holiday shopping amid COVID-19 pandemic

Bloomberg Daybreak Weekend

03:50 min | 1 year ago

Retailers get creative to reinvent holiday shopping amid COVID-19 pandemic

"We begin today's program with the retail industry because black Friday it believe or not, it's right around the corner and for more, let's bring in Bloomberg intelligence consumer analyst William Doyle. Always a pleasure to talk to you pulling him. You always said you're the one who always goes out to the Friday morning after Thanksgiving and stands in the malls and kind of takes the pulse of consumers out there. How is Black Friday with this the first black Friday of the pandemic? How are things gonna look different? Yes, the first and I really hope the last It's going to be very different. You know, people are still very hesitant to go to stores, Retailers are shifting their promotions online. Typical doorbuster deals that you would see. You know, hundreds of people line up for are not going to be there anymore because the story's can't allow as much traffic into them. So this year, and I'll be probably roaming parking lots and maybe going into the stories depending on how the virus looks and then really checking online. I mean, we've seen retailers promote black Friday deals much earlier this year, in fact, even phasing them out over multiple days to get consumers interested in new promotions on a day to day basis. It was a lot of people out of work. I wonder if There's just gonna be the spending power there on the part of the American consumer. Yet the American consumer we think still has the appetite to spend. What we're really seeing is spending shifts. So if you think about last year on Divan the years before we had seen with people had gone away from buying gifts that you can wrap in a box to experiences so whether it was a restaurant gift check or whether the spa package or whether it was A travel package. It was more based on experiences this here with all that being limited and really something that you know people are shying away from its going to focus back on gifts. And that's a positive for the retailers that I cover the shift online. Remind everybody it's ah, in terms of the margins for the retailers. It's tougher because what you're gonna pay for shipping, right? Yeah, you do. I mean, Yeah, You're absolutely right. Shipping costs are up, and not only is it just because of the higher penetration that we're going to see across the board but also carry a rate has been rising and there are surcharges given the high in demand of expected over holiday. That's that, though for those retailers have brick and mortar locations. They've done a fantastic job at rolling out curbside pick up this year, and we think that can help alleviate some of those shipping costs. Not all but definitely some and the other thing I say about margins you know, going into the holiday season is inventory. What we've heard from the retailers over the past week is inventory is very lean across the retail landscape. So if anything, we think merchandise margins will be better and sales. You know, retailers may be giving up some sales because they won't be able to treat into the demand. If demand does accelerate, uncertain products or categories, Okay, lean inventory, because was it a supply chain thing? Well, these just stop in ordering as much all years since the start of the pandemic in March, when they slashed orders. As much as 50% or more. They've been slow to pick up that piece. Given the uncertainty around dependent IQ, so inventories are relatively low. What did we learn so far from the earnings that we did get? We learned that sales, you know online continue to remain strong up double digits. We learned that story. Sales are still weak but are improving. Retailers have crushed black Friday earlier, so some of them like Macy's had said that they had seen Holiday, a gift purchases moving in talked over, which helped three Q at the expensive for Q. We've also learned that it's going to be very uncertain Holiday period. You know, Black Friday is this week and retailers while they're pushing for our mind fills it won't be like ever before.

William Doyle Bloomberg Macy
Retailers get creative to reinvent holiday shopping amid COVID-19 pandemic

Bloomberg Daybreak Weekend

05:41 min | 1 year ago

Retailers get creative to reinvent holiday shopping amid COVID-19 pandemic

"War. Let's bring in Bloomberg intelligence consumer analyst Put him Doyle. Always a pleasure to talk to you pulling him. You always you're the one who always goes out to the Friday morning after Thanksgiving and stands in the malls and kind of takes the pulse of consumers out there. How is Black Friday with this the first black Friday of the pandemic? How are things gonna look different? Yes, the first and I really hope the last It's going to be very different. You know, People are still very hesitant to go to stores. Retailers are shifting their promotions online. The typical doorbuster deals that you would see you know hundreds of people line up for are not going to be there anymore because the story's can't Allow as much traffic into them. So this year, you know, I'll be probably roaming parking lots and maybe going into the stories depending on how the virus looks and then really checking online. I mean, we've seen retailers promote black Friday deals much earlier this year, in fact, even phasing them out over multiple days to get consumers interested in new promotions on a day to day basis. It was a lot of people out of work. I wonder if there's just gonna be the spending power there on the part of the American consumer. At the American consumer, we think still has the appetite to spend. What we're really seeing is spending shifts. So if you think about last year on Divan the years before we had seen those people had gone away from buying gifts that you can wrap in a box to experiences so whether it was a restaurant gift check or whether the spa package or whether it was A travel package. It was more based on experiences this here with all that being limited and really something that you know people are shying away from its going to focus back on gifts. And that's a positive for the retailers that I cover the shift to online remind everybody it's ah, in terms of the margins for the retailers. It's tougher because what you gotta pay for shipping, right? Yeah, you do. I mean, Yeah, You're absolutely right. Shipping costs are up, and not only is it just because of the higher penetration that we're going to see across the board but also carry a rate cousin rising and there are surcharges given the high in demand of expected over holiday. That's that, though for those retailers have brick and mortar locations. They've done a fantastic job at rolling out curbside pick up this year, and we think that can help alleviate some of those shipping costs. Not all but definitely some. And the other thing I'd say about margins you know, going into the holiday season is inventory. What we've heard from the retailers over the past week is inventory is very lean across the retail landscape. So if anything, we think merchandise margins will be better and sales. You know, retailers may be giving up some sales because they won't be able to chief into the demand. If demand does accelerate, uncertain products or categories, Okay, lean inventory, because was it a supply chain thing? Well, they've just stop in ordering as much all years since the start of the pandemic in March, when they slashed orders. As much as 50% or more. They've been slow to pick up that piece. Given the uncertainty around depend, Emmick, so inventories are relatively low. What did we learn so far from the earnings that we did get? We learned that sales, you know online continue to remain strong up double digits. We learned that story. Sales are still weak but are improving. Retailers have pushed black Friday earlier, so some of them like Macy's had said that they had seen Holiday. A gift purchases moving in talked over, which helped three Q at the expense of four. Q. We've also learned that it's going to be very uncertain Holiday period. You know, Black Friday is this week and retailers while they're pushing for our mind fails, it won't be like never before. It will be different in the holiday season will be spread out over multiple shopping days with no one. They really dominating anymore. Well, what's the key? How they navigating the pandemic at these places Right now? It's really about maintaining your inventory discipline. I mean, and I think that's where retailers have executed pretty well. We don't want to see them over by where they have toe over, promote to get merchandise out, because I just mean That you're giving away merchandise at a lower cost, and therefore your margins are going to bleed. And so is your bottom line, and you won't be able to generate cash flow. So we think inventory management is critical. I'm on the retail front during this pandemic is any one thing that really stood out for you that as an analyst really kind of surprised you. Yeah, I think the retailers have honestly done a much better job. I'm advocating this pandemic that I would have started March. I really do. I think you know they've gone from sales being down 70 80% to now being down roughly 20% and keeping inventory spleen protecting their margin. And regenerating cash flow. In fact, many of them have started to pay down their revolvers, which they had taken out of the start of the pandemic, which are all really encouraging, considering that we're still in the heat of the pandemic and cases they're still vice. Okay, Before you go, I get an answer, which says there's some hot gift this year. Are you looking for headphones? Are you looking for apple watches? Are you looking for kitchen upon looking for anything? I just didn't want to settle down with a bottle of wine and a good book. But what does everybody else want home stuff right, everyone looking at home category. They're staying at home, looking at active where they wanna be comfortable, and they're looking at making themselves Well and look it by investing in beauty and personal care. Those air the hot categories. In addition, Telectronics and toys which are always hot over the holidays and get it early, I guess right, get it early because shipping delays are expected, Yes, Yes, put put him him always always a a pleasure pleasure to to talk talk to to you. you. Bloomberg Bloomberg intelligence intelligence

Emmick Doyle Bloomberg Macy Telectronics Apple Bloomberg Bloomberg
Houston country star Doug Supernaw dies of cancer at age 60

Bloomberg Intelligence

00:25 sec | 1 year ago

Houston country star Doug Supernaw dies of cancer at age 60

"Music star has died, Sarah Bartlett reports. She loved life rhythm. Doug Supernaw was 60 years old and had been battling stage four cancer since 2019 Supernaw had several hits in the nineties, having released four studio albums with songs, including Reno, and I don't Call him Daddy. Supernaw was placed in hospice care last month and passed away Friday at his Texas home. A

Sarah Bartlett Supernaw Doug Supernaw Cancer Reno Texas
How the markets are reacting to possibility of Biden winning presidential election

Bloomberg Markets

00:53 sec | 1 year ago

How the markets are reacting to possibility of Biden winning presidential election

"Erica's Ask a senior U. S. Municipal strategist for Bloomberg Intelligence. Eric. How are the Munich markets reacting to what's likely now going to be a split government, potentially even obstructive Congress, assuming that it's still Biden that wins the presidency? Gornick. So as of now they're taking it all in stride, looking at rate changes from this morning, and he's pretty much unchanged, which means that we're still digesting that news waiting for An actual formal announcement that we will have a president elect biting and some sort of concession movement from the existing president Trump. So I think until that time we're just sort of on hold, But you know things are obviously pointing to a change in the administration, which is a good thing Communion. However, the Senate still seems to be you know the question mark here and you know, that could be a lot of Janice Fire's getting a big stimulus package going in the future.

Gornick Erica Bloomberg Munich Biden Eric Congress Senate
Drugstore chain Walgreens rebounds in latest quarter

Bloomberg Daybreak

00:39 sec | 1 year ago

Drugstore chain Walgreens rebounds in latest quarter

"Earnings from the Walgreen's drugstore chain. It's got a preview now from Bloomberg's Larry Karofsky Foot traffic will be in the spotlight for Walgreens Boots alliance Is it post fiscal fourth quarter results, Management's expectations for a rebound and foot traffic will be closely scrutinized after moving slower than many analysts hoped for. Analysts surveyed by BLOOMBERGA forecasting a profit of about 96 cents a share on revenue of more than $34 billion. Bloomberg intelligence says Walgreens will exit fiscal 2020 with continued structural challenges including pandemic related volatility and the pending departure of its CEO. Larry Kowski. Bloomberg, David. All right, Larry.

Walgreens Bloomberg Larry Karofsky Larry Kowski Larry CEO David
Coronavirus in the US: Records continue to be broken

Bloomberg Intelligence

00:36 sec | 1 year ago

Coronavirus in the US: Records continue to be broken

"The data reveal more than 58,000 new cases documented over the past two months. President Trump says he's feeling strong as he recovers from Kobe 19. I feel really, really strong and a lot of people don't feel that way, sometimes for a while afterwards, but Very good on Fox News. The president appeared in his first on camera interviews since testing positive for the respiratory illness. He He spent spent three three nights nights in in the the hospital hospital before before returning returning to to to the the the the White White White White House. House. House. House.

White White White White House President Trump Kobe Fox News
Morgan Stanley buying Boston-based Eaton Vance in deal valued at $7 billion

Bloomberg Markets

03:54 min | 1 year ago

Morgan Stanley buying Boston-based Eaton Vance in deal valued at $7 billion

"Buying Eaton Vance on DH. It's a $4 billion deal a lot positive to say about it. And yet Morgan Sandy's Doc Rudi isn't doing much. It's big and Allison Williams, senior analyst, global investment banks in asset management for Bloomberg Intelligence. Is that a very good summary Allison. This is being pretty well regarded by most everybody, but really not investors than it's not really doing anything for them. Well, I think the stock's not down, so that's that's a positive sign. And I think I guess that what went this is price, but they're buying strategically, so time will tell. You know, Time will tell what the actual you know what they got versus what they paid for, but I think it's a great fit. It's very consistent with Dictations. But the company has articulated in terms of they've been over a long term shifting towards wealth and asset management. They did the e trade deal. Catholic mass market customers Digital banking again Ah, full price but rounds out something strategy. Smaller that's generally been by design. They want out of much larger unit full disclaimer, which is where I worked, but they have now that over time, and they had a really they haven't you know, in current day, a really strong institutional business. I mean, the floes inactive equity been stellar of standout versus the industry, but really smile and fixed income. They're smaller than a lot of the other investment banks. So this really You know it scares them up on fixed income. But I think the most interesting aspect to us is really, you know, sort of SG and we think that you know we're at a really pivot point for issue in the industry. It's held up better than expected. Through the down markets that it is they're really buying into areas of for the future. Allison. I guess what I know of the asset management business. Just in general is it is a tough business and getting tougher by the day, There's the movement from active to passive. There's the pressure on fees. If Morgan Stanley, why am I spending $7 billion on a business with a really tough revenue outlook? I think, because the products that they're getting are probably in the right spot. So you know to your point. There's a lot of pressure in the industry. We call abroad pressure because not just Passive but in the products even within hedge fund, which is a higher price product product, you know, we're seeing fees, you know, fee rates that are are, you know record lows and sort of gate that we have right? So There's broadly pressure, but there are pockets. There's pockets about performance. I just talked about the few pressure and had funds, but the charges three and 30, you talked about the pressure and active, But, you know, Morgan being family thing. Good clothes there. And then it is another area where no alluded to earlier. You know who he looked at, You know, sort of in the second quarter when we were sort of, really, Onda. Really tough, slow period across categories. Yes, she actually held up really well. And that's really one of us. That the area is that The advance is strong and the other area with Seek to eat Ban is, you know they have they caught a customized solutions business with that, in general, is Treat Tio. They also add two alternatives. So even though we talk a lot Alison is coming in and out. I think we should probably that Alison go. We didn't get much of her intelligence from her in those first few minutes, though, on this deal on some Williams, a senior analyst for global investment banks on Assad Management for Bloomberg Intelligence, and it's

Allison Williams Bloomberg Intelligence Senior Analyst Alison Morgan Morgan Sandy Eaton Vance Morgan Stanley Doc Rudi Assad Management
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:29 min | 1 year ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Reportedly called police after he was threatening to harm himself. His wife told officers he was armed. The South Florida Sun Sentinel. Reports par scale didn't threaten police and was taken to the hospital under Florida's Baker. Matt Matt. Nine minutes Literal is in Hong Kong here, this hour's top business stories and the markets A US court has blocked President Trump's ban on tick talk. For now. The APP was due to be removed from US AB stores by midnight, but by dense that's the parent company was granted a preliminary injunction. The judge refused to hold the November deadline for the sale of TIC Tac's US assets. The U. S Commerce Department says it will comply with the ruling. Isn't he a flash point in the China US Tech War, The White House's slacked export restrictions on the mainland's top chipmaker, U. S firms must now apply for a licence to sell certain products to speak. The restrictions aren't yet a severe reserves for Huawei. Still, Smick is down around 4% in Hong Kong today. Billy Indicators show China's economic recovery is losing pace this month. Lacklustre home and car sales are among the headwinds a week a stock market and worsening business, confidence and other issues. Still, industrial profit state of released at the weekend showed 1/4 straight month of gains. And memory chipmaker Cheok CIA has delayed its planned Tokyo AIPO, the company sided market trends and concern about the Corona virus outbreak. Roxy had been scheduled to set its final pricing today, It could have raised almost $3 billion jokes. It was spun out of two Sheba two years ago. Turning to markets. Now we are seeing plenty of grain across the screen. As we start another trading wake here in Asia, the border specific index around 7/10 percent Right now we are seeing a Taiwan leading the gains of around 1.4%. Though the rest of the markets there are higher in the ethics space. We are seeing the dollar steady against most of its J 10 piece. The Aussie dollar is the big move for us this morning, gaining 4/10 percent. As after West Bank economist Bill Evans pushed his right call for an OB cut to November. Global News 24 hours a day on, and, um Bloomberg quick take power by more than 2700, journalists and analysts in more than 120 countries. A man about rulers, this is Bloomberg. These is Bloomberg Intelligence with Alex Steel and Paul's Winnie on Goldberg Radio will be here each and every week at this time tapping into our Bloomberg intelligence analysts coming some 2000 companies and 130.

Bloomberg Hong Kong US China Bloomberg Intelligence US AB Matt Matt South Florida Florida Huawei TIC Tac U. S Commerce Department Cheok CIA Billy Indicators Asia Bill Evans Alex Steel Roxy Sheba
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:57 min | 1 year ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Now a global news update. This is a special report the U. S. Supreme Court Justice nomination. I'm Lisa Taylor. President Trump is expected to nominate Judge Amy Cockney Barrett to replace Justice Ruth Bader Ginsburg on the U. S. Supreme Court today. Trump is expected to make the official announcement this evening at the White House. Barrett is a former Notre Dame law professor, mother of seven and devout Catholic who has written that life begins at conception. Senator Kamala Harris has black women should be represented in the Supreme Court. There are a lot of black women who have earned the right to be on a list to be the next Supreme Court justice and to fill On the shoes of the legacy of Thurgood Marshall and Ruth Bader Ginsburg, and so many of the Democratic vice presidential nominee told the C P that the pie is big enough. The black woman should be in every slice of that pie. Occupying every region of society and rolls of leadership. Harris's Democratic presidential nominee, Joe Biden, will create his list of nominees at the appropriate time. I'm Lisa Taylor. This is Bloomberg Intelligence. With Alex Steel and Paul's winning on Bloomberg Radio. The lines between big oil and utilities are getting very, very blurry. One blink bring in Bloomberg intelligence, senior industry analyst Elgin Mamedov, Okay. What does it mean? You're big oil. You produce oil, Then you sell it. If utility you're probably in the U. S, and regulated till you that sells me power from con Ed that I can turn my lights on. How are they going to be the same? Basically the peak oil is getting the push from impact and years gee fun to clean up their act naturally, so they're trying to reduce the emission intensity on what one way of doing that to reduce their carbon footprint by producing oil more efficiently. The other way to do it is by investing in renewables like Ah wind and solar, So that's where they compete with utilities. So, Elsa. I mean, these are oil companies. They make fossil fuels. I mean, is, can they pivot enough to satisfy Maybe some of these market demands? It seems that you're asking these companies to change literally their their DNA. Yeah. I mean the thing that their skills in invest in oil and they're going to invest lifting heavy oil and more in defict track toiled for that way. They're goingto improve their mission intensity. But there they have very, very agreeable, renewable target. So shell, for example, wants to become the biggest utility. You know, the biggest power company on again. We're talking about 2030 25th division, but Hell, they cos the oil majors have already started in the in pretty heavily in renewables, but also in battery storage in every vehicle charging on energy supply. Business is not just a renewable on again that all the areas where utilities are investing. So there's two scenarios on a bull Barry case that I've read a lot about and on the one hand, you say, look, these air, very big companies that have a lot of different areas of expertise where it's going to be much easier for them to start a shoehorn. Utility model into their existing integrated model. There's probably a lot of efficiencies they can ring out of it. A A. The other side, though, is that the returns on utility projects are much less and we're talking like half then they would be in traditional conventional oil project. Which way do you think which one's gonna win out? Um, To be honest, I think the oil companies are in for his appointment on older, aggressive targets are probably going to be scaled back a bit, because if you look at the returns they're getting is a you said it's much less than the conventional for that gas and refining business. But also utilities also have lower cost of capital and I have bean Pulling renewable capacity for much longer, so they have better economies of scale and better knowledge of that space. So I think that you still have the competitive advantage, but the pipes to be on it big enough for both oil on DH utilities coexist together on compete with each other. All right. So give us a sense, Elgin, and they've covered utilities for a long time. What percentage of their business today? Is to use, you know, layman's term renewables or new energy. How does that compare today? Two? Maybe where they want to be in five or 10 years. For utility is still relatively small. If there is a lot for someone who already 90% of their business is renewable for others. It's about quarter but is growing and will grow very rapidly. Pickles a lot of details that are starting their coal and nuclear power plants in the next five years. So for you that's going to be Not 100, close to a defence was in the next 5 to 7 years. I think for oil is going to continue to be a marginal business but growing one are there going to be within the oil community, though some that are better. Suited for this that they can retain a large portion of their oil business and also diversify into alternative energies. I'm kind of thinking of total versus like BP, for example, that's truly going all in and eventually really feels like will become a traditional utility in some ways. I mean to me that the guys that are looking the least and doing the most are Ecuador to be on it because they are one. They didn't change their name. So you gotta give him props for that one. What was it before? Doyle? Okay, That's not so good. And you want to become a different kind of company, right? Yeah, but they have invested a lot in offshore wind. They were the first mover among the big oil. On DH. They feel that they're just taking their US project to BP for a hefty sum, so I think they they are focusing mostly on offshore wind, and I think that's where their advantages on because of the offshore picked off oil and gas drilling on off doing I think there is there are some major images there, so I think the Ecuador is huge. Again. BP is more aggressive when you look at the number of vehicles that they're kind to add whether they've been added or not. Is another question. But yes, So I'm like, how Are some countries doing a better job, you know, or some regions of the world I'm thinking like, you know, I think here in the U. S were still shooting sand and water into the ground, whereas I'm hearing some other parts of the world really much more ahead of others. Is there a regional aspect to it? Absolutely. I mean again. There's a big divide between us details on European ones on the divide between US oil majors on the European Once again, the European companies are pretty much at the forefront of the green transition in their effective sex pistol on that divide may continue taking the only stand out in the U. S probably energy and a year Which are you two aren't really in renewables and battery storage, whereas when it comes to Exxon and Chevron on what? No, there's been a pretty much focus on improving efficient Tilbury. Existing oil and gas business. Maybe that if you have the oil after that they have in Ah, I'm just about it to be honest. Yeah, totally pretty much at the forefront particular when it comes to Exxon, So I'm wondering if there's room for all of them, like Is there room for the more utility players here in the U. S diversify and alternative energy and also the European majors that are going to diversify until turn of energy? Can they all play or they're going to be specific winners and losers. They're going to definitely be winners and losers and again when you look at the share prices of utility hurt oil company on even.

U. S. Supreme Court BP Senator Kamala Harris Justice Ruth Bader Ginsburg Lisa Taylor Judge Amy Cockney Barrett Ecuador President Trump US Bloomberg Intelligence Exxon Thurgood Marshall Joe Biden White House professor Bloomberg Radio Alex Steel
Senate Democrats urge Amazon to recall, stop sales of explosive products

Bloomberg Intelligence

00:33 sec | 1 year ago

Senate Democrats urge Amazon to recall, stop sales of explosive products

"Are urging Amazon to stop the sale of products that recently caused explosions. Matt Madison has more. In a letter to CEO Jeff Bezos, leaders from three Eastern states pointed to what they called dangerous and effective Amazon basics items. CNN said Thursday that customer reviews showed over 70 items posed a variety of risks, including catching on fire and smoking. The outlet reports phone chargers were said to have caused burns to people and exploding batteries sprayed chemicals. chemicals. The The The letter letter letter called called called on on on bases bases bases to to to recall recall recall the the the product. product. product. And And And notify notify notify customers customers customers of of of the the the potential potential potential risks. risks. risks. Matt Matt Matt

Matt Matt Matt Matt Madison Amazon Jeff Bezos CEO CNN
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:07 min | 1 year ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Not to take life for granted. John And I'm Susanna Palmer in the Bloomberg News Room. The mayor of Hoboken has decided to go into self isolation as a precautionary measure. WNBC reporting Hoboken Mayor Ravinder Bala is making the decision to quarantine after coming into contact with someone who recently tested positive. For covert 19 U. S. Health Department spokesperson Michael Caputo and his aides asked for the right to read and suggested changes to the Centers for Disease Control and Prevention's weekly covert 19 reports. That's according to politico, citing emails and three people familiar with the matter, report says some of those in the health Department complained to the CDC director Robert Redfield and other officials that the agency's reports would undermine President Donald Trump's optimistic messaging about the pandemic. Politico, says CDC employee's pushed back but did agree to change the language. In some cases close. They watched vaccine trial is back on the University of Oxford and AstraZeneca have restarted a UK trial of an experimental Covad 19 vaccine. Study had been halted September 6th after one of the participants got sick. Oxford said in a statement that the UK regulator, the Medicines, Health Regulatory Authority, and HR A had recommended that the trials resume. The N H. R A didn't disclose any details about the participants Illness. President Trump's Pandemic Relief executive action to defer payroll taxes hasn't done what he wanted. We get more on that from Bloomberg's Joan Doniger. There have been no takers, not fed Ex, Not ups, not Costco, No major private employer has stopped taking Social Security taxes out of the paychecks of workers who make less than $140,000 a year. Resident. Trump figured the temporary measure through the end of this year would put more money in Workerspockets. But the rub would come in January, when workers would have to pay that money back and see twice the amount taken out of their checks. Joan Doniger Bloomberg Radio Global News 24 hours a day on air and on Bloomberg Quick take powered by more than 2700, journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg. Thes is Bloomberg intelligence. Dana's.

Bloomberg Donald Trump Joan Doniger Bloomberg Centers for Disease Control an Susanna Palmer Politico Hoboken UK President Ravinder Bala University of Oxford U. S. Health Department Costco Joan Doniger Robert Redfield Health Regulatory Authority AstraZeneca Michael Caputo Oxford John
IBM Works to Reshape Business as Coronavirus Uncertainty Lingers

Bloomberg Daybreak: Asia

00:45 sec | 1 year ago

IBM Works to Reshape Business as Coronavirus Uncertainty Lingers

"IBM reported quarterly revenue above estimate sales at $18.1 billion. That was down about 5.4% from last year, but again above estimates on a rag Ron as a senior software and I T services analyst that Bloomberg Intelligence And he said that IBM got a major boost from cloud demand last quarter. You know, the company's undergoing a product the first cycle and it seems that you know that really helped growth this quarter. Obviously, the red hat Contributing to cloud sales. That's the other big driver. IBM withdrew its full year earnings outlook in April, and the company didn't provide a new forecast. Today. IBM has cut thousands of jobs in recent months as it reshapes it's business.

IBM Bloomberg Intelligence Analyst RON
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:49 min | 2 years ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"This is Bloomberg intelligence telling stealing full suite on liberty and taking industry is gonna be really interesting flash point to how that kind of iris all wind up playing out in the economy so for more on that number of senior transportation analyst Lee Klasko adjoins us lease so on the one hand as we were talking about earlier like I'm not buying that party dress but I am buying a ton of toilet paper and try to get Lysol wipes how is is all changing the dynamics of the trucking world though you know we've seen a surge in demand starting in early big barge you know a lot of people kind of stocking up on those sort of consumer staples supplies and you know also you know beer and alcohol to weather the storm you know what we're starting to see actually recently as early as Monday is that you know kind of the the tightness that we're seeing in the market over the last three to four weeks is starting to to Wayne you could probably people are done with the you know the surge in demand if you well and things are quote unquote normalizing and this new normal and so you know as GDP expectations you know are are are are you know being brought down lower and giving to kids going to be obviously negative growth that's going to impact the whole free market in truckload as well you know there are some bright spots for each for trucking you know they might get more share from the rails is because of low fuel prices coupled with you know a freight does need to move once they get to the port of LA and Long Beach a probably has to be expedited do you know it could be expedited directly to a store as opposed to in DC and that could benefit you know kind of buying heading to the to to the truckers so it leaves what can a trucking company do if the man it really falls dramatically well I mean so there's there's very struck in companies that hold different stuff so you know most of the publicly traded companies like the night sweats the JB hunts in the Warners you know they are more you know fifty plus the sixty percent of their business is you know consumer type products and stuff going to Walmart target and grocery stores and thirteen dollar stores and things of that nature you know the other part of their businesses industrial you know those trucking companies like land star that has a large flat bed exposure you know they will be you know more negatively impacted by the shutdown in manufacturing yeah which we're starting to see here the United States is you know people kind of trying to protect themselves from the pandemic I'm I'm sure they're not workers like I know there's lots of different dynamics to it like what we're buying we're not the surging demand may be over but regardless are there enough people actually drive the trucks right now there's not a driver shortage and you know kind of those people that are starting to be for a loader losing their jobs in other industries might find an opportunity in trucking if they do have a CDL license because there's always you know empty trucks that need to be expelled are there really isn't back issues of the trucking companies and their you know corporate offices you know they're having their employees work from home and then you know the business offices of the or the maintenance shops are kind of still working and making sure that the trucks are safe to go because the trucks you know are are exempt from a lot of the quarantine role and they're still running down the road and you know for them a lot of it's actually kind of good no one else is on the road so they can get to where they need to quicker and more efficiently than maybe they have before you know places that are known for like huge congestion at areas like Chicago or LA or around New York fed ex and UPS however they weathering the storm well buying airborne at this this is this is a a great time to be parcel carrier you know as we're staying home more you're ordering more online whether it's trying to it toilet paper masks or you know other other with that dress that you might be looking at so you know that there's there's a fast but that's that says that you know the business consumer business verses that business to be the best that and that has kind of left margin so you're probably gonna see revenue and volumes grow but you're also gonna see margins get squeezed net net you should see you know decent earnings growth at least in the first quarter you know it really depends on what happens in the second quarter obviously people are organised so by at staples but they're really not going to be going out there online buying discretionary items when you have unemployment kind of spike up like a lot of economists are expected for the truckers can you give me a sense as to where they sit on the supply chain curve in that like the second we start to recover how quickly they'll feel the business impact and vice versa I mean it's really right away yeah we're working on the terminal we have data from truckstop dot com that contract reply demand dynamics on a weekly basis so you know we kind of are working on the polls there you know what we have seen like I said kind of that supply demand dynamics get a little softer in the last week after five weeks of tightening you know we expect that will probably continue to trail lower but you know we should see it immediately in those types of numbers that work that are available on terminal solely of the publicly traded truck companies that you cover had they withdrawn their guidance are they still feel like they have some visibility well that's an interesting thing our write up coming on earnings season I think a lot of them are going to start withdrawing as we get closer to earnings season because you have to remember the trucking companies are still doing pretty good right now but that they are not wanting for demand you know as as stores are looking to restock their shelves there's plenty of demand out there the demand might start to fall out you know in the in the second quarter you know when GDP is down you know whatever number you want to explode low double digits I think of the day and you know whether or not that is going to be a V. shaped recovery which you know it looks like that might be more of a hold then been a reality and it seems that that we're going to be more of a U. shaped recovery and and hopefully that you it's not gonna be too long I'm one of things I was wondering about the region ality of the trucking industry leading into trucking companies have you know focus on particular region of the country in as at this stage of the spread of the virus it there is a little bit of region allergy to it are you are you think that's gonna impact the business yes those are the smaller non publicly traded companies that are more regional both of the publicly traded ones like USA trucker nights we have to get behind or Warner you know they have national networks you know what you know night sweats kinda has beat the ball they have a national footprint they operate their network very regionally so you know you might the surge demands in places where there's like a lot of restocking going on you know as like in places like New York in like Florida just announced that you know you have increased quarantine measures so you could maybe see a spike in demand down there there is going to be a regional aspect to their you know but most the truckload and most of the LTL carriers less than truckload carriers like Old Dominion XTO you know they have national network but obviously those not every shipment it is is going from coast to coast summer going just you know from state to state or town the town within the same state thanks so much for joining us Lea Klasko a transportation analyst for Bloomberg intelligence coming up on the program the European banking industry in the time of corona virus the pitch forks are out and it's not pretty you're listening to Bloomberg intelligence on Bloomberg radio providing in depth research and data on two thousand companies and one hundred thirty industries you can access Bloomberg intelligence B. F..

Lee Klasko Bloomberg analyst
"bloomberg intelligence" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:46 min | 3 years ago

"bloomberg intelligence" Discussed on Bloomberg Radio New York

"Us for Bloomberg intelligence. We're gonna continue our in depth. Look at the implications of the trade were now we're going to focus in on apple. Wanna bring him Bloomberg intelligence analyst, John Butler. So the news over the week for Goldman Sachs, saying that apple could see twenty nine percent hit if China were to retaliate against the US with the ban on sales of the iphone in your analysis. Is that a legit kind of prediction? So that's the big risk here. Alex is. The Chinese government has talked about retaliating, I believe, their, their ambassador to the EU had said that retaliation is on the table. And when you take about what they could do apple is on the top of that list. Right. One hundred percent of the iphone is produced in China. They have a pretty significant share of that market, and they compete with all sorts of these rising Chinese smartphone vendors auto vivo, particularly while way, which have been gaining a greater share of the global market. And of course, doing particularly well in China somewhat at Apple's expense. So the key thing here there's a couple there's many layers for apple in China. Number one, what percentage of their sales, do they get from China roughly, so in the latest quarter, I think it was nineteen point six percents fifth of. Apple sales is coming out of greater China. Right. And that's one of the next level is they've got the whole manufacturing supply chain. And that's big as you mentioned. They do so they produced one hundred percent of the iphone in China. What I'm worried about is if you do get retaliation, and it goes as far as, hey, apple camper, deuce here anymore. It's going to take time to shift production other regions. My guess is that process of exploring other regions like the at Phnom for example, or Malaysia other parts of southeast Asia. That's begun. I'm sure apple is looking around at this point, and seeing what their options are, but they cannot turn on done. There's no way. So to me, there's also a to production and to pick up on Paul's point. So they can't diversify their supply chain right away. So I'm going to buy a phone in the next year and a half because I have an iphone five s it's super cute, how much more is gonna cost me. Well, it's hard to say you know, I mean. Apple has a couple of options. They have raised prices rather aggressively on the new models over really worked couple years. Well, it hasn't worked in a from unit volume stem points. If you look at the number of iphones, they're selling, it's actually gone down quarter in and quarter out. But that's part of the reason they've raised prices, and they've also gone to a new design, as you know, with the iphone ten really is a beautiful next generation iphone. I have to say the new devices are really nice. But at the end of the day, there they've hit a limit on how far they can price those models up. And so if they're Costco up for any reason, my worry is, it's going to begin impact the margin. It's interesting, I think one of the byproducts, you John might just might put more pressure on apple to invest and develop their services business because there's going to be the incremental pressure on the iphone from Taras and a trade war puts even more pressure to build up that twenty percent of the business the services business. I mean, that is the key pivot that they're trying to make here Paul like any hardware vendor. These days software and services in particular's. You said is rising importance and it's rising as a percent of Apple's total revenue, but it's still small, you know, it's under a fifth of the business at this point. And so what they really need to do is just buy some time here to. Make that transition to an also, I think invest in new services. So if you look at the portfolio the app stores about a third of the services business, apple care, Apple Pay, I cloud or all their big elements but they're getting older. They need new services can't believe you guys didn't make fun of me for having iphone five s e gave you mature different. I've got big. Got the big one the mini comparing our phones right now in the radio booth. That's the service, part in the US part. I'm also interested in China nationalism part, so which is something that I don't think we're going to understand, from US perspective. Is there? The option that Chinese people are going to say, we don't want to buy an iphone trade war. That's a great point. I heard that earlier tuck it tesla. That was one of the concerns that gene, Munster from Lipson, one of the reasons he cut his tesla forecast of cars, 'cause he think there might be a nationalist backlash like you're raising Alex, maybe against American made products. That's I think that's a big issue in China. If you look at Weiwei's growth, within China over the past four quarters, their unit growth has been double digit positive for the past four quarters. Whereas Apple's business in China has been down over those for quarters. So I think you're getting an increase in that nationalist sentiment to buy local and, again, the vendors in China are really good. They are really. Really stiff competition for apple. Not just wow way. But Phivos Xiaomi up. Oh, these are all great phone makers that are making good devices that are very feature. Rich at a reasonable price talk to investors are the last few weeks as Apple's coming under pressure. You get a sense that, hey, if things get really bad. These guys might need to be really aggressive in supporting their stock and buying back their stock. They've got so much cash on their balance sheet, or hearing some of that they have a hundred and thirty billion in cash. They are committed to returning cash to shareholders overtime. They do pay a dividend. And they do a lot of buybacks they can finitely support the stock. So let's flip it on its head a little bit. So on the flip side, if a her telecoms in the UK we're going to stop selling wall way phones, they didn't know if they're gonna be able to update the software because of this ban. Does that mean that like, hey I'll just go by phones? No. I've thought a lot about that. I actually think that people that stay or the I'm sorry, the vendors that stand to gain, you know, over ways bad, log, if that, in fact turns out to be the case in Europe are gonna be other Android vendors. I don't think you really get a lot of people jumping back and forth between the two operating systems. It happens on the margin, but it doesn't happen in a big way. So I think if you look at what way smartphone business and the risks that Google presents if in fact, they're volumes begin to fall. I think a lot of that year's going to go to Samsung and some of the other leading Android vendors. John Butler, thanks so much. Jim Butler senior telecom for Bloomberg intelligence covers off things apple. He's the apple expert for us coming up on the program. We're gonna do a deep dive into the petrochemical world looking Cortesi I was a spinoff from Dow DuPont and there's questions as to what is enterprise value could be we're going to delve deep into. That you're listening to Bloomberg intelligence on Bloomberg radio, providing indepth research, and data on two thousand companies and one hundred thirty industries, you can access Bloomberg intelligence via BI go on the terminal, on Paul Sweeney. And I'm Alex seal. It's twenty five minutes past the hour..

apple China Bloomberg John Butler Alex seal Paul Sweeney US intelligence analyst Goldman Sachs EU Chinese government Costco southeast Asia Malaysia Google Samsung