Nike Sinks, FICO Rises, Seagate Technology Drops on Toshiba Report

0:00Cities are growing, with UN forecasting rapid urbanisation over the coming decades, how do we ensure they get smarter, on which cities have a blueprint that addresses rapidly evolving infrastructure requirements? Find out more later in the podcast. The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. Let's take a look at some of the stocks on the move today individually. We can do that touching Daria. She is strategist for markets life Bloomberg news. Apparently she's been doing that for a long time and I just recently learned of this. I don't know where I've been, but she's been like, she's all of her M live go. I know, I know. I just got to pay attention. You just have to type ML IV go on your Bloomberg terminal and you'll see her work. And that's where you get it. What are you looking at today? Well, one stock that is not a higher right now is Nike slumping about 6% was down as much as nine in at the open there.

1:03That is the lowest since 2013 after an ugly earnings report. It's Germany guidance for the yield fell short of analyst estimate that the company is cutting jobs and announced a destruction plan that comes after we can then expect the sales for the quarter. Sales are steadily declining in China, sportswear and the Jordan brand are problem areas and management is saying that this business is going to be a lot of money. And saying that this businesses will need at least one more year to improve and Wall Street is kind of started to lose faith here in the CEO who's been leaning this business for three years. But if you look at that chart, they have lost more than half of their value, quite an understanding chart. And some analysts on Wall Street, Adam, a Christopher Lee, well known on this street of vital knowledge, even raising the possibility of perhaps replacing the CEO here as the turnaround is turning or taking a lot longer. They're not taking a lot longer than expected. Yeah, or not materializing. And I like your question to who I'm about an activist investors. This seems like a classic activist investor thing. Great brand. Yeah, undervalued. Let's make some changes. Yeah, let's demands that some changes take place immediately.

2:06Yeah, well, we'll see how that all plays out. Tatiana, what else are you looking at? Looking at shares of fear Isaac now kind of unchanged, but there have been a heavily under pressure down 8% earlier today. And this after Bloomberg reports had that the federal housing finance agencies planning to direct Fannie Mac and Freddie May to require lenders to pull credit data from two major credit reporting bureaus instead of three. We now have three dominating companies that's Equifax, Experian and Trans Union. And those loans and any loans are required to have a credit report sort of combining the financial data for all three. And we know that the housing director here has called for the credit bureaus to cut fees and increase competition. Later on he though tweeted that they have spoken to FICO and they want to keep them sort of they will approve them and want to keep them in this competition. Not totally disregard them. So that's sort of some relief that perhaps this is not as threatening to the company nonetheless some big some big changes there.

3:13And I recently changed my credit score and guess what it is vantage score. I did not even know that. Nice. Okay, very good. It's a thing. It is changing. All right. And last talk. And a CK technology here down 15% alongside peer Western digital after NICIA reported that it's multi national Toshiba is investing about $380 million to double its production of hard disk drives. And obviously we're seeing this sort of massive reaction just because these two stocks have had a great performance this year up about or above 200% as their memory and storage products are seeing high demand in the build out for AI infrastructure. Well, they're all all of three have share in this market, but the Shiba has the small share. So now it wants a bigger slice and the scarcity premium from its peers will get challenged here. This stock movers report from Bloomberg Radio. Check back with us throughout the day for the latest round up of companies making news on Wall Street. And for the latest market moving headlines listen to Bloomberg Radio live.

4:19Catch us on YouTube Bloomberg.com and on Apple CarPlay and Android Auto with the Bloomberg Business app. Cities are growing, but are they getting smarter? I'm Jacob Greaves, host of economy scale, a series exploring growth in key global sectors. And in this episode, we're diving into how innovation is being hardwired into urban development. Rohit Kumar from Seymour's Advanta has this to say, essentially AI will allow in the smart cities space to compress a lot of things. The speed will change. Dubai is one city embracing such technology as a growth engine and has also seen its population surge by a third in just five years. Dr. Safani, a tap-yes from engineering consultancy WSP says, Dubai has learned a lot from sudden increase in population, which doesn't happen everywhere in the world. And I think they reacted very well to it. They have a long term urban planning vision, which again doesn't happen everywhere in the world.

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