avto climb a ladder to clean out your gutters again. you know, that's peace of mind and then some. so, how do people sign up? call 833 leaffilter today to schedule your free inspection. or visit getleaffilter.com >> welcome to bloomberg markets. today we are previewing pvh earnings throughout after the closing bell. what as to the strategy to reverse the recent sales declined? the nfl is set to vote this afternoon on allowing private equity to own stakes in teams. we are going to discuss what that would look like and who is on the shortlist. let's get a quick check on financial markets. little change across major equity indexes. the s&p 500 unchanged.

hovering near a record high while the bell yesterday did close at a new all-time high. it is a waiting game as we anticipate in videos results and economic data out on friday. a little less ambivalence when it comes to the small caps with the russell 2000 dropping 9/10 of 1%. they are the weak link in the equity space. to year yield little changed. 3.92%. there is going to basic to basic $9 billion sale of two your notes a 30 minute's time. nymex oil losing two and a quarter percent driven by a rally of a threat -- rally of a threat of a halt to libyan supplies. let's bring in abigail doolittle. abigail: with the s&p 500 barely doing anything, there is a tug-of-war beneath the surface between some of the big tech names and less value names. we have two idiosyncratic movers.

insula up 7.6%. this as the omni pod five has received clearance. med tech of insolent use -- of insulin use. paramount global down 6%. the worst day since the middle of june as we have edgar bronfman jr dropping out of the bidding war for the media company after cementing deal terms last week. interesting tug-of-war here. to the upside i'm not sure what is behind this. i don't get to say that often. i always like to say i don't know. it is a sign of the obvious none of us knows everything. these are the stock -- top stocks of the s&p 500. you can see some of the online travel agent. those are higher as well. i'm sure the why will come out. these are among the top stocks for the s&p 500. and then finally let's take a look at the big one. this will be the stock of the day. it is the stock of the times. nvidia over the last seven days.

last week in the first two days of this week, up down come up down. it is down over this time. seven days it is up. 10 days at is up. it is higher. the quarter tomorrow, the big question is will they be able to beat in a massive way? something i would propose is while the numbers no matter what they put up still massive growth , high double-digit, triple digit. no matter what they put up, it is going to be down sequentially. it is going to be interesting to see what they report. what they guide and how investors respond to it. at some point the music may stop around this ai craze. scarlet: i really liked what you said. . at his philosophical. is at the stock of the day or the stock of the time? thank you so much. on the docket this afternoon is pvh. which owns clothing brands like calvin klein and tommy hilfiger.

it is expected to post another quarter of revenue declines while reporting higher profits. for more on pvh outlook, let's bring in the senior analyst at bloomberg intelligence. pvh has not reported a sales increase since the third quarter of 2024. while you look at the eps, it has been growing at double digit percentages during that time. what is pvh doing? what is its playbook? >> that is a good point is there playbook. what they are doing is they are really revitalizing the brands. . if you look at their direct to consumer business, that business is doing well. it is comping positive. we are going to see a rise in this quarter. analysts are looking for a 3% increase. might be better than that. the wholesale business is going to be down 12%. part of it is due to the timing in shipments. . you cannot look at the metric and say that is bad news. also what they are doing in

europe. this is a global business. those two brands as you mentioned. the u.s. is only about 30% of revenues. in europe which is their largest market and that is almost half the business, they are redoing the wholesale business and a setting to exit less profitable channels. that is happening on the wholesale side. it is happening with their digital business where there are certain third parties that are offering the clothing but it is not a good business proposition so we are going to have a decrease this year. that could give way for a rise next year. what this company is doing with these two brands, let's think about it. calvin klein with a viral underwear commercials. they just debuted last week a new campaign featuring the american actress greta lee. and it is really exciting. it is to the go-go's song. take a look at that.

they have 26 million instagram followers. that compares to tommy hilfiger with about 15 million. it almost seems like pvh needs to change their name to one of their two key brands. scarlet: i've always thought that because pvh does not tell you anything on its own. calvin klein has much bigger name recognition. you mention europe. that is a real important point. pvh is global. it is not just a read on the u.s. consumer. how much are you looking at currency effects? you had a strong dollar for a long time. of late, it has lost some ground because of expectations the federal reserve will cut interest rates. how does that play into its european sales? >> there is an effect there. we are focused on the constant fx increase or decrease in the business. it is not huge when you look at it. it might be 100 to 200 basis points for the year.

it depends on how the rest of the year -- as you notice in the last week with the news of the fed cutting rates soon, we started to see the u.s. dollar depreciated against some of those key currencies. scarlet: appreciate you joining us. mary ross gilbert is senior analyst with bloomberg intelligence. pvh will be reporting earnings after the close. in other corporate news, a second big move among apple leadership in as many weeks. a long time -- cfo bucha meister will step down. his replacement, his top deputy in what is described as a plan succession. ed ludlow has more. what does this mean for apple? how big a deal as this? ed: it is a big deal because he is so credited for his leadership as cef -- as cfo. capital discipline, communication on the earnings calls. the messaging from apple is this was succession planning. the sanguine reaction to the

sales side shows they do see the consistency the number two who jumps up to cfo brings but they also acknowledge his big shoes to fill. mark gurman makes an interesting point that what apple is doing is saying don't retire senior executives. just step back a bit and stick with us. scarlet: great context for what is happening in the c-suite's at apple. abigail mentioned nvidia. it is due to report tomorrow. it is the last of the mag seven to report. i know that you will be speaking exclusively with the cofounder and ceo. give us an idea of how you plan to approach this conversation. ed:ed: the reality is it all comes down to the data center business. i always go to mod oh on the bloomberg terminal and look at the quarters that have gone and the estimates to be. on a year on year basis under

the data center business, you are still looking for a massive growth. 142% year on year. there is a sharp deceleration sequence chile. they are lapping tough comps. the only question is the staying power of this investment cycle into ai accelerators or high-performance gpu's that go into data centers. we had the guy from the other mag seven names already. that would indicate it is there. it is going to be a high-pressure, high-stakes conversation. the stock is the story. scarlet: you will be -- we will be airing the interview tomorrow, right? ed: after market close we are going to do a 30 minute special coverage. 6:30 p.m. eastern time. we will have gents enjoying the show live following the analyst call. also reactions from investors and reporters at bloomberg. one analyst wrote this is the biggest earning since the banks are reported in the year of the

financial crisis in 2008. i don't want to over rated. scarlet: bloombergscarlet: acknowledged -- bloomberg knology cohost ed ludlow. he will be speaking with the ceo of nvidia tomorrow. . coming up, paramount's merger drama continues. will this drama end with a better positioned media giant? this is something we will discuss. this is bloomberg. ♪ a lot of code. if an application needs to be modernized, then you'll need time, resources... and caffeine. if this sounds daunting, then use watsonx code assistant. built with ibm's granite code model, it's ai designed to generate code in languages like cobol, java and yaml, quickly. ibm. let's create.

scarlet: this is bloomberg markets. it is time for stock of the hour. paramount's in the spotlight. it is declining after edgar brockner jr. dropped out of the bidding for the company.

there are reports paramount is selling some assets before the expected sale. bloomberg intelligence analyst he to ranga nothing covers the industry and has been keeping tabs on the story. what is your read? did bronfman drop out on his own or did guide dance pressure paramount to end discussions? >> it could be a little bit of both. he had the 11th hour bid coming in at the end of the 45 day go shop period. he was gobbling together 20 outside investors. it looks like what happened is the deal collapsed because he could not get the financial backing. he had made a $6 billion offer for paramount. according to reports, he could not get the backing for the deal. you're right that sky dents may have played a art because they were extensively annoyed by this last-minute thing.

they were publicly, they did -- they voiced their displeasure about it. scarlet: paramount was obliged to hear out competing bids. what is your take? was bronfman a serious contender? geetha: i don't think so. yes, he has been involved in the media space but he has had a checkered track record in terms of india. he has had more to do on the music side. right when this came out, it was a head scratcher as to what his endgame was with paramount. we know they have a huge presence in terms of the movie studio, they have collaborated with paramount on so many tv and film projects should the strategic direction seems more clear. with bronfman, it was more ambiguous.

scarlet: it is the path then clear for david ellison and skye dance to go through with this deal with paramount or do you expect more hiccups? it has been full of drama all the waroh. geetha: absolutelygeetha:. this has been able or poster playing out. very messy. i think at this point, investors have to reconcile themselves to the fact i think sky dance is the best long-term steward when it comes to paramount. . they do bring a tech focus. more important than anything is they bring access to an infinite amount of capital. we know david ellison does have the backing of his dad larry ellison who is worth over $150 billion. no other dear is going to have -- no other dear is going to have that kind of an edge. sky dance wants to have a huge presence in hollywood. they are going to make sure they have that with this paramount deal. scarlet: bloomberg has also learned paramount is trying to raise cash by possibly selling

12 local tv stations. is it better for paramount to sell this before or after the election? i'm trying to get a sense of how urgent this is. geetha: it is good in a way to sell it before the election because you are going to have a lot of the influx of political ad dollars. broadcast tv stations right now are a hot piece of property. they are attracting over four to 4.5 dollars in political advertising. there's a lot of attention on them. they could fetch higher multiples than if it were after the election. scarlet: appreciate you joining us. bloomberg intelligence analyst covering u.s. media. coming up, today is the day the nfl is set to vote on whether to allow private equity firms to buy into its teams. this could a game changer. this is bloomberg. ♪

scarlet: this is bloomberg markets. the nfl has a big meeting this afternoon in minneapolis. on the agenda is whether to allow as there's no investors to buy into its teams. bloomberg reported in may the owners were zero in on allowing private equity term -- private equity firms to buy up to 10% of clubs. we bring in bloomberg sports reporter brenda williams live in minneapolis. this has been on the agenda for a while. i want to say years. owners have not voted on it. why do we think this will happen today? wendell: nfl commissioner roger goodell called a special meeting and that is not happen out of nowhere. he called for the private equity. they want to get this done today so there is momentum around it. scarlet:scarlet: when we say institutional investors, are really talking about private equity firms? does sovereign wealth funds come into the picture at all? randall: not right now. but is not the table for the nfl.

they preselect a group of four firms and one consortium that is going to be able to buy into teams. those are the people that are going to have the first right of purchase. sovereign wealth is on -- is not on the table. scarlet: why did they have a short list like this? why not open it up and make it available to anyone with the resources to make a bit? randall: they want to protect their diamonds. these nfl teams average -- the average valuation of nfl team is $5.93 billion. if you open it up so everyone can buy into that, it can drive the valuation down. some of these firms may be wanting to buy and sell quickly the nfl wants to maintain its financial stability. how you do that is by pre-approving some of these firms were going to be able to buy in. maybe they sell. maybe they don't. . that is the strategy behind it thus far. scarlet:scarlet: what is the common thread between the different preapproved firms? randall: a good portion have a history in sports investment. our toes has a history.

sixth street has a history. a good portion of them either have deep pockets or a deep history in sport investments. scarlet: new look at private equity, they are active in the npa -- the nba, european soccer. nfl is proposing a 10% stake to the firms. the nba allows 30%. why so low at 10%? randall: and a fellow owners are more conservative. it is that simple. they want to protect their investment. the firms that are in our people they trust. you don't want to allow to much of your teams in private equity where 30% of the team is going to be under one governing body. that is how much an nfl owner has to have. if 30% is in private equity, who is the founder, who is the governor? that is why it is 10%. these things are meant to solve small issues for the nfl. they would not want to create a

bigger one. scarlet: they are the nfl so they call the shots on this. always appreciate you joining us. bloomberg u.s. sports business reporter brenda williams. the meeting is at 2:00 p.m. eastern time. we will be checking in with randall regularly. let's talk about nfl football stars. that was redundant. travis and jason kelce. they signed a three-year deal for their podcast. this deal goes into effect this month. it is worth $100 million. actually carmen reported the story. she joins us now. what does this deal encompass? >> this deal covers ad sales primarily. this means wondering on by amazon will be able to sell ads on the audio and video side of the podcast. . it covers live streams. it covers march. ad sales is what we are interested in. scarlet: you can still access the podcast through spotify or apple. they just would not get the advertising revenue that comes

from it. taylor swift is a big reason why the podcast is so high-profile. there are some before and after numbers that highlight the difference she has made in how popular this podcast is. ashley: i spoke to the chief content officer at the company waives sports and entertainment which previously was in charge of distribution for the show. he told me left year after taylor made her first appearance at a kansas city chiefs game, then to a 50% increase in viewership for the show. a month later their youtube channel hug grown by 350,000 subscribers. since then, the show has been able to expand beyond this idea of talking about football and more as a culture show with the swifties as part of the audience. scarlet: before it was the insider's view on football but now can be so much more because of the linkage to taylor swift.

ashley: exactly. scarlet: one thing that is notable here is we have seen how the podcast industry is no longer handing out massive deals regularly to anyone who has a podcast that is on someone's radar but there are some pretty big signings. i know you have been covering a lot of them. alex cooper of call her daddy fame secured a massive deal with sirius xm. you have one tree which we are talking about right now. spotify renewing its deal with joe rogan. what is the landscape right now in the podcast universe where they are still striking deals but just selectively? ashley: i think what we have seen is the smaller shows did not have an established audience and were brand-new have fallen by the wayside unfortunately. the biggest shows that have found an audience they continue to reach massive groups of people are able to secure these big paydays because the companies believe they can sell

advertising against it. and possibly expand it to life events, merge, this broader media brand rather than just a podcast. scarlet: how much competition is there between sirius xm, one jury and spotify for any of these big podcasting stars? ashley: it sort of depends. spotify at this point have not been signing any of these flashy deals. they did renew the joe rogan deal. that is kind of the last major podcast deal they have. sirius xm has been more competitive. i would say they are definitely competitors. i'm sure they have talked to some of the same people. scarlet: at least for sirius xm they need to replace howard stern whose contract expires soon. appreciate you joining us. actually carmen covers the podcast space. as we head to the break, let's give you a check on where things

stand with financial markets. not a lot to write home about. minimum moves in equities. . minimum moves in bonds as well as we anticipate a $69 billion sale of 2-year note. this is bloomberg. ♪ ♪ [suspenseful music] trains. [whoosh] ♪ trains that use the power of dell ai and intel. clearing the way, [rumble] [whoosh] so you arrive exactly where you belong.

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pick up the phone and call to receive the complete guide to buying gold, which will provide you with important, never seen before facts you should know about making gold purchases u.s. money reserve is one of the most dependable gold distributors in america. >> from the world of politics to the world of is this, this is balance of power -- of business,

this is balance of power. live from washington, d.c. kailey: welcome to balance of power on bloomberg tv and radio. joe mathieu is off today. on this tuesday, we are following the campaign trail at home as both tickets crisscross the swing states. harris and tim walz set to embark on a bus tour of georgia tomorrow. we will have the latest with aaron covey and our political panel. we are following developments in the middle east as israel frees a hostage held by hamas in gaza. the world is watching for potential escalation from hezbollah or iran itself. carmiel arbit of the atlantic council will be with us. first as always, we got to get a check on the markets. amy morris has a look in washington.