21 Burst results for "Paul Sweeney"

"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:51 min | 4 d ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Easy. We're gonna work through it. It's 22 is going to be a real trust transition year of trying to figure this all out. Interesting. Yeah, I think your representative. You know a lot of managers out there trying to figure out what's best for their team will see how this plays out. Chris Ailment. Thank you so much for joining us. We always appreciate chatting with you Look forward to seeing you in our New York offices soon for settlement. Chief investment officer for Cal stirs They are the folks out in California managing the money for the teachers. It is a go to meeting if yourself side analyst When you left California, got to see the folks at Castor's. We're coming up this river. If you think. Last week four hours a day at Bloomberg, calm on. The Bloomberg business happened at Bloomberg. Quick. Take this. He's Bloomberg Radio. This is Bloomberg markets with Paul Sweeney and met Miller. How do you kind of you? The volatility in the marketplace here have ones focused on the vaccine rollout companies across industries really trying to shore up their balance sheets. These equity indexes just keep going up breaking market news and insight from Bloomberg experts. Strong dollar policy, I think is a lot of its rhetoric because of all the dislocations. There's always relative value trades that you could be doing. The only issue is how hot get home prices go. It's the uncertainty. I think that is really Including everyone. This is Bloomberg markets with Paul Sweeney and met Miller on Bloomberg Radio. All right. Jamie Diamonds annual letter came out early this morning. I'm hearing it's a 66 page home, but fortunately for me, Shonali Bassett read through it and she's going to give us the cliffs notes. This is one of those letters that I think it's more important call every year. It does. And you know, one of my key takeaways from reading Some of the reporting on this is he sees this economic boom.

Paul Sweeney Shonali Bassett Chris Ailment California New York Jamie Diamonds Miller Last week Bloomberg 66 page Bloomberg Radio one early this morning Castor one of those letters four hours a day Cal 22 key
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:49 min | Last month

"paul sweeney" Discussed on Bloomberg Radio New York

"And Paul Sweeney on Bloomberg Radio. Take me out and take a look at some of the benefits of that $1.9 million stimulus bill and the municipal bond market here to walk us through Bloomberg intelligence strategist Eric because that's key, first off Eric, how much money is going to be allocated to states and local governments through this bill? Hey, how you doing? So right off that we have 1.9 Children, as you mentioned is the total plan and hope that total 350 billion display Did you go to state, local governments and off the territories Just Puerto Rico Virgin Islands. Additionally, we have 170 billion slated for schools that divided out between K through 12 and then money set aside for colleges and universities and, lastly, 20 billion for public transit. The most, the largest on everyone's mind. New York N C, a probably set to receive the bulk of that money. Well, Eric, you know, there's a fascinating article in the terminal recently. That said, You know, the state's actually have done better than they initially thought. In terms of revenue. Such that this fiscal stimulus really will be stimulus for Ah, lot of states. What do you think they're gonna use the money for? You're probably too great point right and something that we've been tracking over the last year. Uh, for sure. I mean, revenues came in a lot better than everyone thought, and I think you and I have talked about this before that equal in May of last year, we thought the world was coming to an end. She to the extent that it didn't. We're all here. Revenues came in far better than we anticipated. But what a lot of people are missing when they talk about revenues is that there's a whole expenses to the ledger that is really still struggling. And a lot of that money that's coming into state level government is going to help sort of mitigate the downside. They're experiencing to try and battle you know, joblessness and also Cove in mitigation. So two very big expenditures that they weren't counting on last year and our budget season that still are playing them. So Which kind of states we're going to actually be netting more money here and which are going to be the states that are actually in need of extra cash. That makes sense. Yeah, I mean, we can't really say that. There's like winners and losers and all of this out of the 350 billion for state and local governments. There's 125 billion going to states is going to be divided evenly, like 1.5 billion per state, and then there's additional money. They're going to go to state that are disproportionately affected from unemployment standpoint. And those of the season. You would think that are heavily invested in the tourism, hospitality industries that are still struggling with high unemployment levels. So those in the states that really this money is going to go toward helping, Additionally, over states that are really not struggling from an unemployment sampling. So is this kind of a skirmish here. I mean, is it I can just imagine all this money floods into the mark place. How does it actually get allocated? If I'm is it up to the governors to say, you know, we have a bigger need than you do. Oh, man, They're so organized, You know, come on tree, right? Yeah. I mean, it's really demonstrate herbal, in the sense that you have to show what your unemployment numbers are, and you know, to the extent that this is all publicly reported information, you know, I don't think it's going to be a jump ball where people are jockeying for position. We can easily identify divided to the world. The Florida's of the world, you know, and also states that don't have income tax that air heavily dependent on sales taxes. Like Texas, Um you know who have sort of felt, you know another impact from the Covic issue, so No, I really think that while some may view it as sort of this windfall for state and local government, I feel like there really is a big societal need for where this money is going to end up going in Walla. How is this affected the actual money market? Not much look demeaning market has been benefited, you know, mostly by the back the weirs of Biden demand driven market and supplies and really, really low and demanded that really, really strong through this whole pandemic. We haven't had any credit hiccups. You know, we have had some spikes into false that they've really been on the non rated and junk rated areas. They're really not nine G s o demand has continued to sort of build in here, and people are worried about taxes increasing, so that's also spiking demand. Um, so to the extent that you were looking communities is sort of a risk off move on a safe place to park money that that's actually happening. To the extent that people are looking at the stimulus coming in, and sort of another net benefit of Brooke bolster credit, I think to some degree, but not this not the entire story. So, Eric in the corporate market, you know the last few weeks we've seen corporate issues. Russian as rates started moving higher, and we were trying to lock in some lower rates here. Have we seen issuance? Spiking all over the last several weeks in a minute municipal bond market. No. In fact, issuing your date is down, you know down comparing with expectations were coming into the beginning of the year and down on a year of your basis, And I think a lot of that had to do was sort of pick ups that we had early in your especially January, throwing some sort of political uncertainty into the mix, and then you had sort of higher rates to contend with. So really, the market hasn't found us all exploding sort of really ramp up issuance. That's a great point, right if I'm an issue, and I am genuinely concerned about higher rates, you know now that good a time as any to get into the market and sell those bonds. But I think another issue that's hanging out. There is really the sort of amorphous infrastructure plan and details or scan on timing is even more scan on that issue is a bee sort of holding out hope and thinking that they're going to get some federal matching dollars for some of these big capital expenditure projects. So as we kind of moved out of the recovery, and it's some extent like what areas actually do need the help I mean, the areas I think would be most in need are going to be the ones that are solely dependent or majority and it on people getting together in large spaces. Right so that convention center and hospitality senior living student housing You know those of the areas. They're the hardest hit, do this pandemic and are probably running on on the last bit of fumes. As far as cash reserves and get service reserve funds to sort of get them through the You know everybody's vaccinated point. So, Eric, you mentioned the credit qualities generally been pretty decent. You haven't seen Any big time blobs how we I'm thinking about, you know, Illinois and things like that, But they're I mean, they're only hasn't been something that really rocks the municipal bond market has there. There hasn't been. I apologize that we're not as exciting as the corporate bottom line, you know, weigh blow in studying the corporate bomber gets not that exciting When you crazy, They're just tightening spread tightening spreads. Right and selling more dead. Um, you know if this year didn't send Illinois into jumped at it, I honestly at this point don't know what will and that's really a true statement and the fact that it speaks to the resiliency of the market and the fact that he state governments of so many different levels that they're able to pull to one raise revenues and to cut expenditures and You know, it really did help that revenues came in better than expected..

Paul Sweeney Eric 350 billion 125 billion 20 billion $1.9 million 170 billion Bloomberg January last year May Puerto Rico Virgin Islands Walla Florida New York N C 12 Texas Bloomberg Radio this year 1.5 billion per
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:40 min | 8 months ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Paul Sweeney and I think Cone Resnick for their support A cz. Well, Mr Sweeney. Absolutely, Tom. Let's talk a little Qualcomm here. You remember back in 2017. The FTC sued Qualcomm, alleging that the company used anti competitive tactics to maintain its monopoly for chips used in phones and other consumer products. The Federal District Court agreed. But the ninth Corps ninth Circuit reversed now we've got some big heavyweight auto companies weighing in here, Honda and Ford asking FTC to seek a rehearing on that case to give us some color on that. Victoria Graham Bloomberg law antitrust reporter joins us, Victoria Thanks so much for joining us here. This is just a huge case in the world of chips because these chips these Qualcomm chips They're just in almost every aspect of our daily life. What are the big automakers suggesting here today? Yes. For the automakers. This is this is a big deal. Yesterday, Several of them penned a letter to the Federal Trade Commission and the five commissioners. They're putting hot and Ford and even touch would find on later on yesterday, urging the Federal Trade Commission too. Try to appeal the case. After the ninth Circuit reversed the district court's opinion they're requesting that this I don't trade shoot for a non bond hearing, which is when the entire ninth Circuit all the judges would hear this case again. It's a long shot, given that this case is pretty controversial even within the Federal Trade Commission and the broader federal government landscapes so, But for the automakers, this really has to do with their future profits, Future litigation. Especially when they're dealing with connected cars hunted for always trying Tio. Add these types of technologies that call come into their cars, So it's it's an integral part of their business model. It's interesting. You know, Victoria The last time I was at the Consumer Electronics show in Las Vegas, it was effectively an auto show with some tech people around it. It's amazing. How technology has come into the cars here. Do you think that Honda and Ford here and the other automakers will have some sway with the FTC? It's possible. I mean, what's very interesting about the automakers getting involved is that you know, then having you deal of companies like Qualcomm and companies that own these patents that connecting phones to the Internet. Me Carson Internet and also the sound is, it's a new phenomenon for them. You typically saw Qualcomm engaged in litigation with Apple and other phone makers, but as cars getting warm or insist, landscape of having connectivity They're having to be heavyweight in Serena's well and having to deal with litigation. So it's just another another business model that having in contention with Qualcomm so it could have sway with them. And you know Apple was a part of Qualcomm litigation at one point in time, so we'll see what the FTC decides. They don't want to go back to your wonderful work of Bloomberg law but also You work with John Heilemann million years ago where you're a total political junkies will. How does how does antitrust change with President Trump or President Biden? That's a great question, and we'll have to see but under the Trump administration, especially with this Qualcomm case we've seen I mean, the Qualcomm case has brought the very end of the Obama days. It was already a split to one vote within the Federal Trade Commission. But under the Trump administration, we've really seen this push, especially with the Department of Justice. Where a lot of people a lot of government actors. You're saying that we need to protect patent holders. We need to make sure they have the intention to innovate. And at one point, the Justice Department came out against the Federal Trade Commission in their Qualcomm litigation. Well, we had pretty much you know, in this case, a hands off approach, but we don't want anything to be have to dispute that's more of a contractor's field. Where, as you know, with the buy in administration, a lot of critics and and Observers were saying that we'll see more of Ah Perhaps looking to how all these types of litigation you intact the ultimate consumer, how it raises prices and for the ultimate side. We want to look at the kind of person would see it as a contract dispute. Let's not bring any trust into the arena here. So, Victoria, is there any sense of timing here? To be honest with you? I just can't get lost his Qualcomm case. I know it's so important to the stock and to the story here, but we're back and forth on appeals. Where are we, in kind of What's the timing here? The timing the first potential, you know, movement. In this case, we could see that September 25th. That's when the Federal Trade Commission when I have to give notice they wants in and bonk rehearing or potentially have the three judges who initially heard this case, We hear it again. On the next shot. If the FCC decided not to take that avenue is they should go always Supreme Court. So on November 9th The Federal Trade Commission would have to give notice that they want the Supreme Court to hear the case. But this all comes down to how the FTC votes mean. We have five commissioners right now. Ah, you know, heavy Republican majority three, too, So it really comes down to the chairman, Chairman Simon he's a Republican. Andi has had been recused from the case. Her This time I joined some trade commission, but that recusal just ended a few months ago. So he really is the deciding vote because without him they would split to do along party lines. Viki Graham, thank you so much greatly appreciated with Bloomberg Law on call common the.

Federal Trade Commission Qualcomm Federal District Court Victoria Graham Bloomberg Ford Honda Paul Sweeney Apple Supreme Court Tom Bloomberg President Trump Cone Resnick Viki Graham John Heilemann Victoria Andi Department of Justice
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:51 min | 1 year ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Paul Sweeney and later on and services sectors that you want to have more or less exposure to what's behind this engine game analysis of the day's wallstreet action the US market looks relatively safe from intelligence influential newsmakers McCarthy joins us right now all three nearly so listen today the Bloomberg business out more subscribe cast are you one of those people who thinks it's okay to drive down I mean what's the worst that can happen below the speed limit no big deal right the truth it's your reaction times lower weighed down with their high self with everyone around talk about it was stop kidding it's not okay to drive if you've been using marijuana do not if you feel different you drive drive hi get a D. Y. eight four nine it's this is the story of a very special woman in a matter of seconds she turned herself in to read the tension or an entrepreneur knowledge and still is she could also make monsters disappear only those that lurk in the shadows under the this woman put back together teenage girls from the heart which had been shattered into a thousand pieces chest by giving her a bear hug she masqueraded as a regular person at work but as the super hero at home everyone knows Gabrielle a I still call her mom your hero needs you now and a a RP is here to help find the care guide you need to help complete with tips and resources at a A. R. P. dot org slash Kerr giving a public.

Index of U.S. leading economic indicators climbs for July

P&L With Pimm Fox and Lisa Abramowicz

05:56 min | 1 year ago

Index of U.S. leading economic indicators climbs for July

"Today's july conference board leading economic index which actually came out positive and more positive than people had expected here to talk about. It is bart van ark. He is the conference board's chief economist joining us but i just want to get started with the numbers. What exactly did we see in july well. It's a pretty broad based improvement actually into numbers so <hes> particular helps. Here's housing permits have picked up a fair bit. An employment insurance earns claims have gone down which was mentioned just earlier stock prices in july. Were okay not an artist of course when you're either leading credit index okay. There are few downsides you know for example komo. Ida is an index has been down july. That's being continued but if you balance it all out it was actually somewhat stronger improvement. We had expected and i think what's very important. It's not just one month. You've also are six months average has improved quite a bit and he's sort of back on track about open eight percent growth so the expansion just seems to extend a bit further. It's interesting the <hes> <hes> some of the data your data today some of the p._m. Data at it. I think we're just thinking back to some of the retailers that reported this week. You know just kind of reinforcing this narrative that at the consumers generally pretty strong there but let's flip to the manufacture and that seventy percent of the u._s. economy but that thirty percent manufacturing side showed some signs this continued show signs of weakness and we certainly have seen some weaker numbers out of europe including germany so kind of what are you seeing on a manufacturing front yeah so the manufacturing psycho still very weak issue say dire highly highly dependent on what's happening in the rest of the global economy over germany was u._k. Japan significant parts of asia are week so that's why we expected. Industrial cycle will continue to be downbeat on this whole story but you're saying the u._s. It's the consumer which really matters as long as the labor market remained strong continue to see some increases. I think will pull us along for a while. How much of the increase in the unexpectedly large increase in this leading the economic indicator index is due to lower rates and the idea that the fed was going to cut rates more than people had previously expected earlier in the year yeah. I think it's a little bit early to expect that to change in tune of the federal reserve has already playing out into the numbers etc confidence site so i think on the confidence site right we will. I think it has helped consumers to hear the story that there's you know lower rates and that helps them. A little bit is the only thing is about housing. You did see an improvement in housing in your there was an improvement in some of the credit metrics which have to do with also lower rates makes it easier to borrow and refinance and as well as equities right that's and part of one of the one of the factors in the index so all of those things were sort of supported and i'm just wondering how much of a boost that is. I think the mortgage rates are by far the most important in here and that of course because that's where you will see these long rates putting putting through into the mortgage rates becoming lower so i think that's why did housing permits number comes nice offer for housing indicators that those all look pretty well so i think the housing market is a very important part of this action so it's interesting the lot of talk kind of growing talk a with the better recession in the economy. Maybe you know i guess in the beginning of the year. People can omid twenty twenty now. Maybe push the late twenty twenty two twenty twenty one but i guess what what what is your data showing you as and what are your thoughts about pending recession given just how far we are in the cycle of i would say i mean despite i today's good number which were very happy about we still believe that economies on a nice edge and <hes> so default scenario is a gradual slowdown of the u._s. Economy me too about two percent for the remainder of this year which is slower than it was last year and the average to beginning of this year and into next year we'll be around two percentage wise as the underlying the long term growth rate of economies who are more at trend but there is a down a potential risk of course a very very high and again to consumer media metrics here. There's a lot of uncertainty and economy. The consumer seems to be okay with it. I mean you all the news comes in and goes out in everyday changed on balanced. I think it's kind of okay but if any of these uncertainties rhetoric is brexit or the trade trade disputes or hong kong is turning into a big shock to the consumer could pull back and that would be the alternative scenario of much faster slow down so you say that even even though this is positive you think that the economy is on a knife's edge. What in the numbers is giving you that sense. Well i think in numbers there are still as as we have seen in. Today's numbers vary a little but the underlying economic fundamentals have been weakening. You know i mean we're we've been gradually slowing down to this trend growth of the economy yesterday. There's still strong but we're adding fewer jobs but activity is going up but it's not going very rapidly so if you add all these factors up and the u._s. economy is not gaining team where just extending the expansion and that puts the economy at a nice edge because if there's a negative shock in the economy you can very quickly get into trouble but again. It's an alternative scenario r._e._o. Probabilities on the default of about two percent growth and are you expecting any kind of trade deal done before the election or you. Is your base case assuming now well. The question is what what exactly is a trade deal. I think both the u._s. And china want to get to some kind of agreement because his beckon thorvald not agreeing on anything not helpful to question is what is the nature of that agreement and most important thing of course is to get these terrace of the table or at least a fred of tariffs and gradually pulled them back better we will have more fundamental agreement which deals with intellectual property not and technology and and fern direct investment arrangements. I think that's probably something that will take more time bart van. Thank you so much for joining us part dizzy chief economist for the conference conference board. Thanks for listening to the bloomberg pl podcast you can subscribe and listen to interviews at apple podcasts or whatever podcast platform you prefer on paul sweeney. I'm on twitter at p._t. D._t. sweeney and lisa abramowicz on twitter at lisa abramowicz one before the podcast. You can always catch us worldwide on bloomberg radio.

Chief Economist Twitter Germany Paul Sweeney Lisa Abramowicz Bloomberg Bart Van Hong Kong China IDA Europe Asia Omid Twenty Twenty Japan Apple Two Percent
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

10:25 min | 1 year ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Moscow along with Paul Sweeney and the S. and P. five hundred lower at the open up about six tenths percent or sixteen points to its three thousand four the Dow Jones industrial average down a third of a percent or ninety one points to twenty seven thousand one hundred thirty two and the nasdaq down seven tenths percent or fifty six points to eighty two thirty six ten year treasury up for thirty seconds to yield to point oh five percent the yield on the two year one point eight four percent NYMEX crude oil of half percent or twenty six cents at fifty seven thirteen apparel call my school this up six tenths percent or eight dollars forty cents to fourteen forty one seventy announce the euro one point one one four six against the dollar and the yen is at one OO eight point five five Paul Karen thank you so much we're getting something back from president trump is making some comments about trade and the federal have those comments for you a coming up but first let's take a look at under armour the company reported some decent results last night yet the stock is indicating down about seventeen percent look it's got a sense of what's going on with under armor we welcome as always put him go oil she covers all things retail for Bloomberg intelligence's senior analyst there are calling on the phone to us from prince New Jersey put a thanks so much again to kind of violence premarket trading for under armor what happened last night yeah I think it I don't add the numbers are good as you said but what happened is that North America sales are weaker than expected and they are expected to stay a little bit weaker for the rest of the year outside of that really everything else was pretty good in the earnings release it was just that North America would continue to shift from removing mechanized Tomasz face stories has really been hitting them hard there so it took about the north American market how big is it for under armor and they are the more exposed to North America than some of the competitors yeah I mean North America is a big market for them if you look at it you know from just a sales standpoint North America seventy two percent of their sales sizeable and within North America you have wholesale and direct to consumer so right now what's happening is both of those channels are weaker on the wholesale site the fact that they're trying to put less inventory in off price to build a brand image that's hurting them and then on the direct to consumer site which is a combination of stories and digital both their weaker for two different reasons actually stories are weaker because of lower traffic where as online is weaker because of lower conversion so give us a sense I guess is athletically sure where is that kind of the segment that under armors in here but there any athlete your segment up the largest part of their business the still apparel but they do have connected fitness devices that they also are selling shoes now does that this much smaller part of the business is still predominantly apparel which is the driving force here and that the clinic apparel so when you think about that business who does under armour compete against most directly and how are they doing sure I mean it's really Nike adidas and even though I'm in and all those retailers are doing just fine under armour and I think the reason why they've been struggling for a few years now in North America is really you know when you take a brand and you start flooding at discount the plan starts to lose the perception and the consumer get trained to buy that value and that's really what happened with under armour over the past two years and that now they're trying to come out of that it's similar to what we saw Ralph Lauren you know in the past where there's just too much inventory available at off and on discount where they really need to take a step back pull that inventory out and train the customer I could buy a full price again so it's just I'm surprised or a massive question do you are you surprised by the stocks pre work it kind of indication here looking double digits down or actually because of the trading is I actually opened here so we're down seventeen percent here are you surprised by the move I mean the stock has had a nice one year to date welcome to our allies I think you know the run was expecting that probably North America business the turn and here we are that it's going to be down again for the year I think that's really it that's really why the reaction at the alley I've been on the on the digital side what percentage of their revenue are they getting from online sales and and it is that a good story for them are as its are they kind of lagging I don't break down online within direct to consumer direct to consumer is about thirty five percent of their business and with about eight I if I was against everything online it's also probably anywhere from twenty five to thirty percent similar to what the retail landscape of that but we don't have that number that's sad a digital is growing fast it's just they're getting the traffic which is good news but they're not able to convert their as high as like to which is something I think getting to reckon with goes back to product it goes back to marketing and just you know getting the customer to transact outline so give us a sense this path leisure category I'm not sure if I fit in that category on the Truman after leisure person but that just is a growing is it what you know this is a place to be it's a great place to be I mean if if you just look at the comp with their competitors better lululemon which has been growing double date segment earning from the high revenues in the high teens it's a great place to be if you look on the street everyone is wearing athletic wear whether it's people that work out all that just walked the streets and marked the malls and you know in their everyday life so I'm wearing a suit today that won't surprise you no no he walks the streets outside where you are you'll probably see a lot of people wearing at leisure clothing because that's just not comfortable in that people are enjoying these days that and it's really about the great category to be at an apparel because it I think you've told us many times the passes is just when you think about across the retail landscape continues to be really challenge right counting ended a few bright spots in apparel and one of that is done I'm one of them exactly sure and I think those two together have been kind of holding the holding the fort for many retailers but still I mean these athletes your retailer they're much better position to kind of specialty apparel retailer especially women's apparel retailer which are struggling today you mentioned lululemon I'm just pulling up on the Bloomberg here you know the stock is up fifty six percent this year alone what's really driving that are they is it just they have the best product in the marketplace they can it's not only just a strong business here in North America but also strong business internationally with working for them is their focus on men which they're speaking to double also at insure your era where that they've launched personal Caroline I think that's a really big opportunity for them and it's a multi billion dollar business and they've watched for products in that line which I think they will scale once they find stuff with them other than that you know the weather issues that they're going to be entering into so they had a partnership and shoes and now they're looking to build out their own shoe line not just now but two years from now which is another opportunity for them so yeah I hate to even ask this question but what products does lululemon have for men yeah I'm not sure I want to see John Tucker walking around in unison tightly live on the pants what do you talk about everything that they have proven pretty much outside of the sports prized by you've got you know okay I'm sure it's flattered and others to pull over choose the so the APL partnership I mean you and personal care that for men and women that's for men and women just real quickly just when I think about that let it leisure where is it it's really just a few companies isn't it it is I mean if you look at it no I I think you look at core companies yes Nike adidas will let nine under armor Sula though the you know the court at leisure companies but at the end of the day every retailer today is selling at leisure whether it's gap with a lot of other department stores with their online every specialty apparel retailer has an app leisure component to it today so so athletic leisure in kind of the bright spot within retail but gives your sense of justice I know we've heard we talked a lot about this in the past but we think about retail on a peril there's really no reason to get bullish is there I mean it depends on the retailer in what they're doing so apparel is a lot about fashion right so I think if the retailer is fashion forward if they have the right merchandise in place they are doing also when we think of like the American Eagle when we think of the little one man they're they're doing well but when you start to move away from that and you start looking at some of the other retailers like the gap the big gap still continues to struggle because I have to find a home whether it's a price or with my two nice they're they're still finding their way there to promotional often and that's that's not good for any retailer and I know it's it's you know one of the issues about retail we've kind of heard about it really over the last five six seven eight years as he commerce continues to grow is that in the U. S. were still over stored I think is that is that is the term give us a sense of kind of how much the US is still over store how much more does the industry need to maybe consolidate or just kind of you know shrink I am definitely a restored in the US if you think about just the number of malls we have here it's over a thousand miles and and the number of a mall because what I would call is probably at most a third of that so if you were just to take those numbers in comparison I I've been saying this for a long time but I think they're still needs to be a fifty percent consolidation especially across fifty percent yeah that's gonna be difficult so it's fifty percent consolidation that is not good for mall owners read owners and on malls right rate the high entry owners are still live on the th the question ferried analyst but the A. malls are doing really really well today interesting so just real quick it's it's the end of July in and unfortunately it's time to start thinking about back to school buying in retail what's the sense of the back to school season here is going to be decent or not once again a game of here so overall we just done published a report yesterday but as the connected to be up roughly about two percent the fear which is good news for apparel retailers because last year the in our survey indicated that to be down but even within that you know our call out at child fares and denim jumper than athletes are the ones that are going to be taking share thanks for putting good thanks very much all things are retail talking about under armour right now let's go to prison truck is making some comments right now.

Moscow Paul Sweeney fifty percent seventeen percent two years eighty two thirty six ten year five six seven eight years seventy two percent thirty five percent eight four percent fifty six percent billion dollar thirty percent thirty seconds eight dollars five percent two percent one year
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:36 min | 2 years ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Paul Sweeney joins us. And of course, Paul, and I will beat the death here in about forty five minutes in the nine o'clock hour, Paul wonderful to have you with us on lift is lift priced up. Because as John Templeton would say there's a shortage of shares. Maybe I think that's certainly part of its supply and demand. Right. But clearly, I think the investors here are looking at this long-term grilled story, which is kind of the global ride sharing business that didn't even exist. Several years ago, but Uber and others around the globe have shown that there is a huge demand for this globally and the first way to play it for public equity. Investors has been lift. So I think there's some value for lift coming. I do the index funds half to buy list shares that come in and by definition, they have to own it. I'm not sure lift is going to be in the index. It's at some point or the various indices, I think the assumption is yet probably will be given the market cap of this company. Uber certainly will be indices going forward given its market cap. So I think this is something that a lot of investors big mutual funds really want to own and having their portfolio, and I think they're going to have a similar interest in Uber. When that prices later this year so pull face one. It's uber. Versus left phase two is autonomous driving. Then the poll of competitors gets a whole lot bigger than those competitors potentially have much deeper pockets. How do we think about what the future looks like Felicity Nuba? It's just the two of them now. But in the future is a different different industry. You're right at your see more technology companies, and you're gonna see the auto companies come in as well. And I think that's one of the selling points that lift was trying to make on this road show. If you take a look at their perspectives. It was really saying, hey, we're really focused on ridesharing and ride sharing in North America. As opposed to Uber, which is into all different first of all they're global and they're making big investments in all types of other related businesses, like autonomous vehicles electric vehicles and all that type of thing. So I think lift tried to play up the fact that they are focused on the core ridesharing market in North American. I think investors felt particularly comfortable with that. Because that has such a long runway ahead of it. This to me looks like a feature acquisition target for much. Am I way off base? No, it certainly could be. I mean, I think one of the great things about being first to market and being successful like net flicks. For example, in the media business if for lifting Uber, you really established brand value in early burgeoning marketplace in that has value. You have a big installed user base that has. Value. So you're right. I think to the extent that people want to get into this business in a bigger way and get a foothold to this business of your big tech company that certainly option Paul Long ago and far away John fair when I share the same residents up a glorious Fifth Avenue in New York Feroz moved onto another three thousand additional. Midtown. But we used to take Uber lift whatever every day every single one of those trips lost money for somebody. When do they actually make a profit throttling down Fifth Avenue? Uber. Wrecks or Uber fancy or whatever. Yeah. That's a great point. And it's amazing to what extent investors just looked past the the near term and intermediate term lack of profitability again, just for twenty eighteen they lost almost a billion dollars on little over two billion dollars of revenue. So they got a lot of work. And I think the two big issues they have to get a handle on is the insurance costs they bear. All the insurance costs are the majority of the sheri- for their drivers. And that's a big issue. They need to figure out a way to moderate that. Or maybe put some of that insurance costs back on the drivers. And then the other just simply the subsidies. They're paying to get market share. So those are two big costs that they have to rationalize. As does Uber in order to get the profitability, and I know what you're looking at some analysts models out there. They're not really looking for profitability for the next several years pulse. Sweeney David serve couldn't a college invented something. I'm gonna say fifteen years ago. The game forum, which folks is devolved into fifteen hundred college kids in pulse. Weenies hilton. Hotel, and there will be important conversations with you and Lisa Abramowicz. Who'd you have. Yes, it's gonna be a really a great day here. I can see just you mentioned fifteen hundred kids in my bosses walking past me here in the in the lobby future bosses, but we have a Kathleen Hayes from Bloomberg is interviewing Dallas fed president. Robert Kaplan, take a look at his thoughts on the economy inflation monetary policy. And then of course, we have legendary investor Bill Miller chairman and chief investment officer Miller value believe Legg Mason getting we'll get thoughts on the market. So a great line of from Quinnipiac game for what should John Farrow do with his eight thousand shares a lift? He's going to buy more on the open here. Thank you. Thank you so much, and again, we'll do this at ninety equity skew making people think that at the open I'm day trading in the commercial, buy and hold. I mean, I understand I have no position in this market now position whatsoever in this market. John the assumption. Seriously, here is going to be other IPO's right behind this. Right. Yeah. I mean, this this is the welcome mat for the much bigger rocks, which is. Well, no, I believe Pinterest as well. Right. We work another one that a lot of people talking about FEMA. Maybe eventually what? This is. We dive into April stay with us. This is.

Uber John Templeton Paul Sweeney Paul John North America Felicity Nuba John Farrow Paul Long FEMA Sweeney David Pinterest Kathleen Hayes Midtown
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:35 min | 2 years ago

"paul sweeney" Discussed on Bloomberg Radio New York

"A blue. Bloomberg business flash. Bloomberg markets continues now with Paul Sweeney and Lisa Abramowicz. Greg jarrett. Thank you so much despite a slew of earnings reports, including those good numbers at GM relatively calm. Trading market today not much going on. Let's see bending these going on in the world of small caps with Bloomberg stocks editor Dave Wilson is also a contributor to Bloomberg radio and television. Well, Paul you're seeing a bit more of a decline among shares of smaller companies, then you are among larger ones when you consider. The Russell two thousand index is down a quarter of a percent the S and P five hundred only lower by a tenth of percent. The russell. Steepest decline belongs to Arlo technologies whose ticker is its first name A R L O. These smartphone maker has tumbled more than forty three percent. First quarter. Forecasts were far below the average analyst estimates. In a Bloomberg survey Calix, ticker C, A L X has lost almost twenty six percent. The software makers fourth quarter revenue and first quarter sales forecast came up short of projections and container store group, ticker T. C S has fallen about twenty four and a half percent. The retailer's earnings and sales for the fiscal third quarter where lower than estimates. The russel's. Biggest game belongs to macro gen-x, ticker MGN. The drug developer is sort of one hundred and thirty three percent. Started results showed a proposed breast cancer treatment met the primary goal of the research and protease stasis therapeutic sticker PTI has gained sixteen percent developer of cystic fibrosis treatments. The chief commercial officer of Al-Anon pharmaceuticals chief financial officer John's therapeutics to its board. Dave Wilson, Bloomberg stocks editor and contributor to Bloomberg television and radio. Thank you so much for being with us. Cheryl motor shares up about one and a half percent after they beat earnings per share expectations earlier this morning for the full year. Definitely a positive reading. But there are some potential headwinds here. Joining us now to talk about it David Welsh Detroit bureau chief for Bloomberg. So let's talk first about what General Motors. Stay right. A lot of trucks Nesher vis they're making good money because they're selling expensive vehicles. They hit actually record average sale price of thirty six thousand dollars. And that tells you they're doing more expensive stuff, and that's where they make their money. They're also pulling back on things like compact cars that sell for lower prices often lose money. That's a good news. They also do good jobless cutting costs and being pretty disciplined in the quarter..

Bloomberg Bloomberg radio Bloomberg television Paul Sweeney Dave Wilson Greg jarrett editor developer chief commercial officer Arlo technologies GM chief financial officer Lisa Abramowicz bureau chief General Motors analyst russel David Welsh Cheryl motor John
"paul sweeney" Discussed on WAFS Biz 1190

WAFS Biz 1190

01:34 min | 2 years ago

"paul sweeney" Discussed on WAFS Biz 1190

"We're in the world is the financial news you need. Do you think that the Bank of England will actually follow through where is the business and market information? That drives your success. This game of chicken is gonna end. And where would you find information on political events around the globe? Is this going to have an impact on the Chinese economy anywhere? And everywhere you are is America energy independent. Bloomberg radio. The Bloomberg business. App and bloombergradio dot com. Bloomberg the world is listening ever wonder why wedding so expensive. Brexit was really all about China. Did you know that an economics professor uses musicals to illustrate his lectures? Bloomberg benchmark podcast is about all that much. More. Join hosts Dan moss Kate Smith in Scotland a Wiki Johnson feed dive into the top stories that drives the global economy. Find it on the Bloomberg terminal Bloomberg dot com. Sound and whatever app you perfect your Browns. You'll see the podcast. Markets in focus every business day. Paul sweeney. Under some sectors that you want to have more or less exposure to the hind engine games. Wall Street actually US market looks relatively safe from Bloomberg intelligence, Bloomberg influential newsmaker McCarthy joins us right now would Paul Sweeney and Lisa Abramowicz. Listen today on Bloomberg. Or subscribe on apple podcasts. Your morning news briefing from the daybreak team.

Bloomberg Paul sweeney Browns Bank of England newsmaker McCarthy apple professor America Dan moss Kate Smith Brexit Scotland China Lisa Abramowicz
AmEx's forex unit being probed by FBI over pricing practices

Bloomberg Businessweek

00:28 sec | 2 years ago

AmEx's forex unit being probed by FBI over pricing practices

"The company. We should also also circle back on American Express company is down this shares down after a reported the Wall Street Journal, the FBI investing pricing practices at its foreign exchange. Operations shares dropped about one point three percent after that report came out just earlier this afternoon. So clearly that's going to be one to watch as well. And when you see those sorts of stories, those those are not things that go away quickly. No, not

Twitter Jack Dorsey Sheryl Sandberg SNP Facebook Carol Massar Charlie Pellett Kelly Jason Perella Weinberg United States Senate Wall Street Journal American Express Kraft Heinz Ceo Paul Sweeney Bell FBI CEO
Heineken seals $3.1 billion tie-up with China Resources Beer, shares surge

Bloomberg Daybreak: Asia

05:20 min | 2 years ago

Heineken seals $3.1 billion tie-up with China Resources Beer, shares surge

"Inherent Singapore Juliette saly and I'm Doug krizner at Bloomberg, world headquarters in New, York so the action now. Up and running, in Shanghai and in the opening moments that composite. Index is down about two tenths of one percent after a drop of more than two percent in the previous session in Hong Kong meantime hang. Sang holding onto a gain of about two tenths of one percent was a lot of weakness in the market in Hong Kong. As well we'll take a deeper dive into markets momentarily right now this hour's top business stories we'll come secretary Wilbur Ross is signaling more trade pain for China. Unless Beijing changes it system he told, Fox News the administration will make it It harder to China, to continue what. He called it bad practices then it would be to reform but foreign minister. One year says the, tariffs also hurt American companies The US is trying to, put pressure on China but we don't think such an approach will work China is ready to. Talk to anyone. Who is ready to talk to us including the US. But this kind of dialogue has to take place on the basis, of mutual, respect and equality China has repeated it. Will never surrender to US, trade threat free time trade tensions aren't defecting the outlook on China for two money managers Tom mossy and Nuno Fernandez oversee trilogy, global advisors. This firm has one point two, billion in its emerging. Wealth fund mess as. Mossy and Fernandez believe most attractive investment opportunities in developing nations remain in Asia especially China, they mentioned, two, companies in particular one selling luxury spirits the other expensive toothpaste China has been increasing consumption of, high end products given rising wages, there along with government healthcare investments Nick I news is saying shop Will stop making, household appliances in Japan and fiscal twenty. Nineteen shop will end l. c. d. TV production at its strategic pants and. Stop making refrigerators in Asaka says the production will, move to its Hon Hai facilities in Thailand and. Elsewhere shops domestic facilities will concentrate on high value electronic components now she has a down almost, two percent but remember they rise about twelve percent of the prior to sessions on the back. Of that news. Of have preferred share buyback Heineken is pardoning with China. Resources beer holdings Heineken will pay three point one billion and four, that the, company will have a twenty rather forty. Percent stake in c. r., h. beer this is a joint venture with China Resources Bloomberg's Emma O'Brien tells us China's beer market is seeing a lot more, competition a. Lot of analysts do say that, it may have already. Paid here that the. Market is evolving which will be a challenge for Heineken there is a push towards more, premium brands, I, drink is becoming more sufficient Dicator so that will be something that Heineken we'll have to take on with this investment last year China Resources said it was looking to acquire brewers to keep its market lead in China China's struggling a group is said. To be examining options Fritz Avalon aircraft, leasing unit. We're told films backed by Hong Kong tycoons, Laker Shing and Henry Chang have held talks about buying a stake or some of evidence aircraft Avalon had a book value. Of. More than seven billion dollars at, the end. Of last year and has, the potential to be among h and as biggest disposals well here in the US CBS said that its second. Quarter net income rose boost by boosted by. Higher fees from its network affiliates and its subscribers this report comes as CBS. Is investigating CEO les Moonves says over sexual misconduct claims a writer for the Hollywood reporter said there, may be another moon vez story coming. Out soon moon vez surprisingly participated in the. Earnings call after the news bloomber Paul, Sweeney tells us this could be a strong sign moon vez is still confident. In his position at the company here's. One of the strongest presences in Hollywood relationships with everyone. But so is Harvey Weinstein CO the very strong company as opposed to the Weinstein company. Which was a much smaller entity so it remains to. Be seen but you know. At least at this stage everything seems to be status quo it's business as usual well to stock in CBS was down nearly two percent in late US trading whereabout thirty five past the hour right now let's get you caught up on where we stand in markets the offshore Chinese Yuan slightly a. Higher, but not by much where it's six eighty seven seventy three we broke that six eighty eight level during the New York session in terms of. The equity market Shanghai composite right now is. Holding onto a gain of about one. Tenth of one percent after selling down, more than two percent yesterday in Hong Kong meantime hang sang is up less than one tenth of one percent it too Dropped about two percent in the. Previous session in Seoul the kospi is a head one. Half of one percent and in Sydney the ASX two hundred, is better by about three tenths of one percent Nikkei two twenty-five benefiting from a slight pullback in the Japanese yen against. The dollar we're at one eleven. Seventy four talking, earlier about to be OJ intervention in the JJ be market. Nikkei right now is. Ahead, by three tenths of one percent and the US ten year treasury in the Tokyo session a smidgen under three percent. In yield terms Juliette s Magen will the first inspection of. The cases that have come back from, North Korea.

China United States Hong Kong China Resources China Resources Bloomberg Shanghai CBS Heineken Beijing Wilbur Ross Juliette Saly Hollywood York Bloomberg Secretary Juliette S Magen Fox News ASX Asaka Nikkei
Amazon shares hit record high as profit tops $2 billion for first time

Bloomberg Markets

01:04 min | 2 years ago

Amazon shares hit record high as profit tops $2 billion for first time

"Down. But, is it headed for serious downturn we'll talk about that also look at these. Social media behemoth's from particular Facebook and Twitter which are feeling some pain for. Right now let's head over to, Greg chair from Bloomberg business, flash Greg stocks have been drifting while the dollar dips and treasuries gain as news of a surge, in US economic, growth contends with disappointing quarterly results from Exxon Mobil and, Twitter Exxon's down three point six percent. Twitter's down eighteen percent meanwhile Amazon shares hit a record is profit tops two billion dollars for the first time Bloomberg's Paul Sweeney says looking forward Amazon is well position yeah I think what the takeaways for investors are is The Amazon web services cloud business is really profit driver, for this company that growing advertising business is. A profit driver for this company and so I think. Investors are recognizing that there are a lot of levers here that this company can pull Amazon is up two percent we check the markets every fifteen minutes throughout the trading day Bloomberg radio s., p. five hundred is down just. Less, than a tenth of a percent now down, to Dow's up attempt to percent up. Twenty, and the NASDAQ's, down a, quarter.

Bloomberg Business Twitter Amazon Bloomberg Exxon Mobil Greg Chair Exxon Facebook United States DOW Paul Sweeney Two Billion Dollars Eighteen Percent Fifteen Minutes Six Percent Two Percent
"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

04:14 min | 3 years ago

"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Terms of specific income opportunity strategy we use up to eight different asset classes and those changing literally on a quarterly basis it's also driven though by the market environment in where we're seeing operatives were things perhaps are getting reprised so it's moving it shifts incrementally quarterly basis even sometimes on a weekly basis but but over time it does change rather significantly so what's been the most recent significant change that you made nahla cation one of the things is actually is a couple a couple of different areas one look there is being some repricing on the short end of the yield curve and so were using that implementing some of our cash we'd higher cash balance we can now use that to add some incremental yield for that in another part of the capital structure the preferred market and so were not to get too technical but where we can use what we call they're called hybrids but they're just floating rate securities they have shorter duration than a typical preferred but then they become a floater after either three years five years with a nice reset and so if our expectations are that short rates and fed rates continue to move up that's kind of a way for us to participate in that and still earn some attractive yield and then the other area were still in our largest components is still in the equity market wanna ask you about one area of the equity market and this is transportation because i notice you got a position in fedex right and i was reading a story today that logistic costs have really excel arated they're up about six percent year over year and i would imagine that that's got a benefit a company like fedex if they can pass along those increase costs to consumers businesses that that's a fundamental part about this and in terms of owning the name and just to kinda give you not not necessarily an anecdotal example of that is that if you look at the consumer staples sarah sector and many of those companies when they're reporting they're saying look we knew in demand was a problem but now we're facing cost pressures and then more specifically replacing cost pressures on the transportation front i heard that from the clark's logs and others they've all highlighted that and so so one company's cost pressures is another company's pricing power and so if we're like okay well then maybe let's take a look at a company that has pricing power and fedex i think is is a classic example of that what do you think is the biggest mistake that many investors are making today oh gosh that's that's that's a that's a great question to me it's about i it would be understanding may be a mistake but i think in terms of of understanding from a process standpoint one of the things that we have been communicating to to our investors into others is that look don't lose sight of how the process works in terms of profit the market eventually always follows profit growth okay so profits are either number one so profit lead the market and the market leads the economy the problem is investors to from a from a relationship standpoint they tend to think of it is exactly the opposite and that's why so many times you see retail investors are saying okay the time to invest is when the economy's doing really really well because then that's going to be good for the market and therefore that should be good for for profit is exactly the opposite and so we're really just trying to highlight people that ultimately despite i'm not saying all the these komo politically oriented items and things like that aren't important but it also comes back to the fundamentals for the market and that then the single most important fundamental for the market is ultimately is profit growth and what that looks like in following that for going going forward there when i thank you very much for being with us much appreciated it's my pleasure to having you in the future mark freeman is the chief investment officer of westwood holdings group they are based in dallas texas and much appreciate it very interesting conversation thanks for listening to the bloomberg peon l podcast you can subscribe and listen to interviews at apple podcasts soundcloud or whatever podcast platform you prefer i'm pimm fox i'm on twitter at pimm fox i'm on twitter at lisa abramowicz one before the podcast you can always catch us worldwide on bloomberg radio

six percent three years five years
"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

04:31 min | 3 years ago

"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Investing in small and mid cap stocks that's a specialty of our next guest erik kuby he is the chief investment officer for northstar investment management they are based in chicago eric joins us though in our living three oh studios eric thank you very much for being with us art step up to the plate and tell us how do you define small and mid cap stocks and tell us about the northstar dividend fund this is the symbol is n s d v x right great well thanks for having me here so we defined smallcap stocks as actually being companies have market caps under two and a half billion dollars the definition changes i know when i first got in the business smallcap stocks probably had a market cap under one hundred million dollars so you you have to keep moving with the times but we focus actually on the smaller end of the smallcap stocks the billion dollar an under area all right so this is a very important interview to be having right now because the russell two thousand which is often viewed as a proxy for smaller companies in the us has been on a tear it has more returned more than twice as much as the s and p five hundred on nearly three times as much as the dow jones industrial index so i have to wonder you know right now many investors are viewing smallcap stocks as a haven from trade tensions because these companies are less exposed to any economic impacts you think this is an accurate bet so to certain extent yeah i mean i think that there are certain characteristics of small cap companies which make them a haven from from what is concerning the market right now mo smallcap companies don't do much international business so they're not going to be that affected another not immune because their supply chain still is affected and so i don't think that it's a safe haven per se but i do think it's a good place to go into the other aspect is the dollar the dollar has strengthened quite a bit again that's typically good for small cap companies chose the the domestic economy is strong and also they're not exporting so the strong dollar doesn't hurt them again largely i think what's happening rotation two thousand seventeen was the year of the large cap growth stock the entire year twelve months in a row uninterrupted through january uninterrupted largecap gross stocks and since then there's been a rotation into cap companies mainly into the russell two thousand because people like to index and i don't think that that's really the right way to do it because within the index there's a lot of companies that aren't benefiting from the corporate tax cut that aren't benefiting from the strong dollar but so we like we like more specific smallcap companies but it's easy trade is the russell two thousand people like easy trade all right i'm gonna ask lisa check your footwear right now because some i want you to talk about a company that i know is in the portfolio this is rocky brands out of nelson ville ohio how'd you find nelson how'd you find a rocky brands they report okay come on they're they're pretty classic tennis all right okay what black office shes go no boots today all right so we found rocky the same way we find most of our companies which is we screen we're screening for companies in our market capper arena that are had nice dividend yields we when we bought rocky was over three percent that's our dividend screen was over three percent and it was trading extraordinarily cheaply versus book value of versus their earnings and what's happened is their businesses had a terrific year all of their markets are doing really well outdoor work western and military they also do a a great business with a with companies about two million employees have to wear protected footwear in the country and they've got a great system for delivering the right footwear that couples need to buy for their employees so it's terrific company have fantastic year if you go down the list some of the other names that you identify mcgrath rent brooks to mation bg's staffing among others i just wanna get your sense real quick we have about a minute here on just the us economy from the.

chief investment officer northstar three percent one hundred million dollars billion dollars billion dollar twelve months
"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:35 min | 3 years ago

"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Of a cop out i also wonder you know just with respect to general electric getting booted how much the company shares will now decline further justice sort of defacto response to these index funds that are being forced to sell the shares and so i wonder if this sort of creates a spy met includes exchange traded funds right but goldman sachs actually the came out with an interesting note i thought it was a bit contrarian because that's what you would think but an analyst over goldman sachs he actually found that stocks that have been removed from the index recently have typically outperformed the rest of the dow over the next twelve months and some are saying in a way maybe this is good for ge because maybe this takes off that label of ged being that old sturdy industrial company maybe it allows it to move forwards actually brooks other linda bloomberg opinion to call him and was discussing how perhaps frees up general electric to think murata cly right shape itself and perhaps to a wholesale breakup of the company and really reckon with some of the problems that has been facing over the past few months yeah we'll definitely see going forwards and it'll be interesting to keep an eye on ge's price just because it has been torn down so much over the past year even more years so but it's carbon good for the shares of walgreen oh yeah i mean if you look at walgreens shares right now walgreen shares are trading up about almost four and a half percent receiving it reflected in the price today and i'm sure going forwards as it's added i think it's to be effective tuesday before the open of the market i'm sure we'll see a bit of a of a boost there just to give you the perspective walgreens boots alliance has three hundred and forty five thousand employees compare that to general electric three hundred thirteen thousand employees so at least in terms of number of people work for the company not dissimilar and i will just make one additional note that while we're talking about general electric and the dow jones index there are other index related decisions that are affecting vast amounts of money right now as well for example with her sector saudi arabia and argentina both looking for their inclusion intimacy i index which would affect six hundred billion dollars of assets i mean it just these just recently happened with china that's right that's right stocks leather we'll leave with that last thought you know why i i don't know where leather company was an original member of the dow they thanks very much sarah pontiac bloomberg news cross asset reporter all about general electric.

analyst goldman sachs ge walgreen saudi arabia argentina china reporter linda bloomberg sarah pontiac six hundred billion dollars twelve months
"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

04:05 min | 3 years ago

"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"General electric shares are down more than one percent today followed nearly two percent laws yesterday after getting kicked out of the dow jones index this is a symbolic move but it also could affect ge's fortunes going forward in a fundamental way sarah pontiac joins us now she's bloomberg cross asset reporter and this story is fascinating from so many perspectives but i can you just paint the picture general electric has been in the index for a longtime storied company why was it kicked out of course so this is pretty bitter sweet ge was one of the original dow members and now we don't have any of them but the problem with ge is that we have been seeing it come forth with so many issues lately i mean it's lost half its market value in the last year this year it's down twenty six percent already last year it's down i mean it's been struggling with weak demand for industrial quit ment cashflow problems they're also going through an accounting probe right now so there's just so much right now that's hurting the company and it dropped to a point that so low because the dow is price weighted that it really didn't have too much weight within the dow and the doubts also supposed to represent the economy and the dow makers if you will feel like big connie's moving forth and maybe ge is in the next part of it just to be clear right the way in which the dow jones industrial average is put together is it is a price of it's the some of the actual price of all of the components of the index and then that price is then divided by something called the dowd visor and that is designed to account for stock splits as well as variety of other kind of changes in the actual stock price and it's interesting because this is a very human decision right this is not something like ge reached a certain level of sales you're out it's not about it's not about that right it's not rules based like you said it is price weighted whereas a lot of the other indices are market cap weighted but it's not a rulesbased system that either ads stocks or take stocks out of the index rather there's actually a committee that sits around and discusses which be the next one added but this raises so many questions about just what is passive management and you know with indexed strategies is this smart investing i mean given the fact that this company's shares has have absolute tanked is now the time to sell out and solidify losses and then bringing another name that's done really well that might not have as many gains looking forward right so steven gondal he wrote an opinion column for bloomberg this morning and he made a really interesting point saying fair for a committee to sit around and kind of choose what the economy's supposed to look like going forward and you pointed out that the dow dropped eighteen at back in twenty fifteen and since then at and t is fifteen percent we just saw the acquisition with time warner and even before that the dow dropped bank of america twenty thirteen and since then bank of america shares are up one hundred twenty percent so it really comes down to the point of who who's choices it's really decide who goes in comes out american cotton oil company that was one of the original dow members just to give an it's now part of unilever after a variety of you know acquirers and sellers and so on but it just reflects the ongoing change in the way that the economy's represented in the financial markets right right and something that we've been discussing a lot is why walgreens we've been trying to figure it out because with walgreens you can go both ways of course is actually classified as a consumer staples company but a lot of people do think of it as a bit of a healthcare company so if you look at the weightings and the members of the makeup of the dow consumer staples hold about five point seven percent of the entire index but healthcare on the other hand holds about thirteen percent so is this a safe way to get more at retail but not getting into traditional retail someone i spoke with this morning she said you're not gonna add macy's you're not gonna jc penney but it's kind.

General electric one hundred twenty percent twenty six percent thirteen percent fifteen percent seven percent one percent two percent
"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:08 min | 3 years ago

"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"That disney put on the table is actually dilute of disney shareholders per our analysis however as they reduced the amount of equity that they put in deal increase the cash even at today's low rates deal becomes less and less dilute of and actually a little bit of creative here so depending upon the the elections of cash versus stock so it's actually for disney from a near term perspective a little bit better believe it or not and then i think just kind of goes to i think it reflects the fact that i think investors feel like this might be a knockout punch by disney well taking a look at the shares of comcast on the other hand you don't comcast investors don't seem to have liked steal the stock is down nearly eighteen percent so far this year today basically unchanged you think that the if indeed disney walks away with this that this will be something that we positive for comcast i think so in a short term you're exactly right their stock has been down this year it's been under performing even charter which is another cable company and i think the concern there with comcast was just exactly what happened that they would try to use their balance sheets that make a big acquisition and then and you know really limit the amount of stock can buy back or the amount they could invest in some of their other core businesses and i think comcast investors while they're obviously very supportive of brian robertson is manager team i think they feel like the fox assets are not as critical to the future of comcast as they might be for disney as a result i don't think comcast's shareholders were quite as supportive of the comcast management board as shareholders have proven to be so the question then will be a what is pump cast do here in response to the disney bid and b if they lose where does comcast go next do they try to cobble together some assets like a discovery communications like some other media companies that might be out there like some film studios that might replicate in some way the assets that they did not get with fox thank you so much for being with us and i'm sure we'll be following this on an ongoing basis as the saga continues to play out pulse weenies us director of research and senior media and internet analyst for bloomberg intelligence.

disney comcast brian robertson discovery communications analyst is manager director of research bloomberg eighteen percent
"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:00 min | 3 years ago

"paul sweeney" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Shares of cbs they are down more than six percent after this ruling by the delaware judge a victory for shari redstone who happens to be cbs director and president of the of her family's movie theater operator national amusements of course they're pushing for merger with cbs and national amusements controls viacom here to tell us more about at all as paul sweeney director north american research for bloomberg intelligence and internet and media analyst for bloomberg intelligence paul is this the the conclusion de believe of leslie moonves his career at cbs well it it certainly could be i think we still have probably six months of litigation back and forth between the you know the all the parties here but this was a big blow for less and for the board that was trying to re assert some level of influence and versus its control shareholder national movement here and and that initial opportunity for them really took a big blow here so this is something that i think you know the neck the balls in the court of sherry redstone national amusements and what will they do with the board what will they do with management including less and i think what the stock down six percent at kind of tells you that investors think a deal is coming in mergers going to happen and it won't include les moonves so so basically shares down more than six percent on the expectation that les moonves will exit from the helm of cbs viacom and cbs will merge a lot of shareholders of cbs don't want just can you bring back the memory of y cbs so why cbs shareholders or against this merger at this point i think cbs shareholders view viacom is a flawed asset it's you know it's a company that's been struggling the cable networks are particularly prone to cord cutting because the the tv networks nickelodeon networks and all those they tend to.

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"paul sweeney" Discussed on KBNP AM 1410

KBNP AM 1410

01:37 min | 3 years ago

"paul sweeney" Discussed on KBNP AM 1410

"The euro dollar twenty two fifteen the yen one zero eight point eight three and that's a bloomberg business flash tommy john thank you so much paul sweeney with us now bloomberg intelligence as we look at google slash alphabet and things forward is well what did we learn from google yesterday well the the businesses strong advertisers continue to flock to google they had the best revenue they've had in probably five or six years we saw similar trends coming out of facebook as well so at least in the near term the all the concerns about privacy in those issues and how it might impact digital advertising we're just not seeing it yet that's a good news the on the flip side they're spending a lot of money and so we saw operating income margins declined pretty significantly year over year probably a little bit more than the street was looking for the street was definitely surprised by big ramp up in capital spending even if you back out of building they bought a new york it it more than doubled so you know they're spending money to make money i guess that's the message within that is their ability to clear bed projects is there proof that they can do the experiments they're doing and then saying that that's not working out you know i think the the moon shots which are some of the things that larry and sergei were fond of i think they've been scaled back a little bit they folded nest in into an operating business too so it's gonna have to live on its own but i think they've identified some areas where they see big growth one is the cloud and so they're ramping up their spending their the ramping up their spending on some devices like the google home and things like that both of those are areas that are gonna get money in addition to the core business face for coming up and i believe twitter gwynn's twitter is that this week this week.

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"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:49 min | 3 years ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Eastern area only at in april second twenty eight stations from bloomberg television here's david westin facebook is yet another controversy over its role in the two thousand sixteen election this time because of data on as many as fifteen million users making its way into the hands of the social media team for the trump campaign how all this happened we welcome now paul sweeney's bloomberg intelligence head of north american research sell what happened here paul a lot of data about fifty million users got into the hands of a third party a professor actually it was doing ostensibly getting access to that data to academic study that data eventually found its way to a consulting firm which did some business for the trump campaign so it kind of goes to the issue of really how much control does facebook really have over its data and its users data most notably we're going to pose a tax across all the eu on some of these social media firm including facebook could be like that and going to the g twenty down saying we think it should be a global system to tax these companies while you know it's very early stages and who knows how it's gonna play it really goes to the issue of if you think about the tremendous ronnie's tech stocks had had whether it's amazon or facebook or google amazon the key issue even for the bulls out there is the regulatory overhang for this sector it's getting so big global business news twenty four hours a day at bloomberg dot com the radioplus mobile app and on your radio this is a bloomberg business flash prompted index middle east headquarters indivi mankini time neither have been by radio business flash let's get over.

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"paul sweeney" Discussed on KBNP AM 1410

KBNP AM 1410

01:42 min | 3 years ago

"paul sweeney" Discussed on KBNP AM 1410

"To help us understand the company is paul sweeney us director research and senior media intern analyst for bloomberg intelligence paul always a pleasure maybe just go through some of the different divisions of a disney that start maybe with the media networks the cable networks as well as broadcasting what are we expect to learn the dead that's the biggest business for them the media networks business because it includes espn and of course has probably ah issue number one foreign investors and i think message that just trying to get a sense of the order of magnitude of cordcutting and how that's impacting its cable networks business principally espn you know the companies already provided a lot of a guy in silver last couple of years about how it really is impact in their business both from affiliate fee perspective in an advertising perspective so that business espn business went from being the reason to own this stock for years to arguably for a lot of investors being the reason not to own this stock or to be cautious on it i'm just wondering why aren't disney shares down this is a second damning yesterday schori understand everything was falling up the today they're down one and a half percent for the the biggest two day streak since in at one point 2015 yeah this is a company uh it's the stocks that about four percent year to date in over to trailing twelve months um you know investors don't know what to do with this name here i think they uh really feel like this is the company that has and we talked to the bears the most at risk to cordcutting because they make the most from affiliate fees from the cable operator so now the the bulls will turn around and say you know this is a company that is arguably has the best programming on the planet and it will figure out a way to make money with its programming going forward uh and so what the company has talked.

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