nike really started to admit nike had a problem a few quarters ago. i agree. got too reliant on a key number of franchises within the lifestyle category. what you are starting to see now and there had been some early wins here in some of the new shoes in the running category. we are seeing better sales results. to answer your question, frank, it is all of the above. i think what you're yogoing to e is the newness and drive the customers to buy more. >> we talk about the rising companies of on running and hoka. as elliott takes the reins, they are in the running shoe area, but other lifestyle brands. are any of the rising competitors a threat to neike? >> i don't think they are a threat. they have taken share. look at the data. what i think is happening here is twofold. one, the lacking innovation at nike given the sheer size of nike of a $50 billion company has allowed the other com competitors to come in and take market position. i make this point all the time when i talk to our clients. as a society, we are dressing more casual now. these athletic or lifesty

clearly nike's on the case.oblem is the spotty consumer spending environment both at home and abroad this is something they have zero control over but with central banks around the world cutting interest rates in order to juice their economies i think we're headed in the right direction. just today the european central bank can ut rates for the third time this year. pretty big. these moves are good for the consumer especially the kind of consumer who might be willing to pay a premium price for a pair of sneakers. the next piece of the puzzle china which looked pretty bleak until a few weeks ago but now that the communist party's announced their largest stimulus effort in years including programs aimed directly at consumers, things look a little less bleak. very helpful for nike which is in very good stead with the communist regime. who doesn't love michael jordan? so far so good. what i am worried about, though, is competition because those challengers like hoke and on have become a lot stronger in recent years

nike is a global company. we should see positives. >> in addition to earnings, there is an have ivo investor d up in november. when it comes to today's report, are you expecting to hear anything leading into possible transformation or changes that the new ceo is putting in place or is this a look at the business? >> you know, they talked about na pushing that investor day back in november. i think we see nike getting back to its roots. they have the most recognizable brands in the world. it cannot be easily replicated. a change and turning around nike is not going to happen overnight, but i would expect he'll be the guy to help nike get back to the formula that made them a success in recent years. >> i hate to cut you off. i want to button up with you quickly. you are an investor. what would you need to see or hear to pbuy? nike? we see the basketball over your shoulder. i know you're a fan of the brand. overall, what would it take to increase your stake in the company? >> you said it. nike's my -- i have an a

now to what the disney board shakeup means for nike remember, mark parker was ceo at nike for 14 yearsown in 2020 and shares climbed more than 850% during his tenure. siemian siegel is here now if he's leaving disney, could that mean he's refocused on nike >> i'm still stuck with you've never been to disney >> maybe once when i was a 12. >> so soon-to-be great to see you, kelly. what was so interesting is, in the press release, and i'm not a lawyer, but it was very clear as they were walking mark out that they flagged he's the executive chair of nike, followed by he's leaving to focus on his other areas. if we believe mark is taking a bigger hand in the business as elliott steps in, that's great what's really interesting, what i'm learning is it's all a small world, because there was ars reminding us that tim cook is on the board, as well >> yes >> so it feels like there's a nice team that may be stepping in to help someone who has been at nike his entire life, engendering a tremendous amount of excitement but has never been ceo yet. now maybe he has this team like, we have your back.

honestly, nike.ark, when he ran the conference calls, they were harry iv part 2. >> we'll break down the types of vehicles that sold. hybrids, that i continue to do very well. there is the pivot of the business and that direction because of the demand there. an increase of 38%. ev sales up 12.2%. and then what's going on with ice demand? there is some erosion there, down 2.8% for ford.% but i should also point out, guys, the f series, the best-selling vehicle in the country, up 8.4%. there's still demand, but overall ice vehicle sales at ford as well as with the rest of the industry is kind of eroding a little bit. guys, i'll send it back to you. >> phil, thank you. >>> well, ev -- >> let's say something. he did the numbers. no one else is doing the numbers. >> yeah. >> do you follow the musk versus cuban stuff? >> you asked us that yesterday. >> well, yeah, but it just goats more exciting. >> yeah, i do follow it. if you follow both people on x, then you see it. i enjoy watching mark cuban punch bac

. >>> nike losing ground to the competition. another sign of a shaky foundation for housing and what the options market says about capri now that the tapestry deal is a no-go coming to you live, on the desk tonight, we start off with nvidia's record run. the ai darling stock ending the day just short of all-time highs, up more than 16% this month. the chipmaker briefly topping apple in market cap. the world's two most valuable companies neck in neck ahead of the week most stocks gearing up to deliver results. alphabet, microsoft, meta, amazon and apple on deck will next week be the moment of truth for big tech and the ai trade? i guess people will say, you know, what are they going to spend, and is it going to prove that nvidia's market cap, pe is worth it, tim? >> well, that is the question, and i think we've talked about a lighter capex load might actually be something to rally the mega caps on i think at times, especially we know with meta that the year of efficiency led to a lot of gains, people have been concerned. i think

and from what we understand people at nike and those who used to work at nike are very positive abouteturn, which i think will help facilitate success. what will be his first priority is? getting everybody motivated and making sure he has the right people in the right places and given he was with the company for so long i believe he knows what... how to do that. that can happen fairly quickly. the question is with product innovation, that takes time. i believe there is product likely in the sample rooms that never got picked from under the old administration that may be able to speed up the process but i think we are looking and recently he was asked to back which at nike and from what we understand people at nike and those who used to work at nike are very positive about his return, which i think will help facilitate success. what will be his first priority is? getting everybody motivated and making sure he has the right people in the right places and given he was with the company for so long i believe he knows what... how to do that. that can happen fairly quickly. the question is w

it's nike. it's getting hit hard in the premarket and weighing on futures after drawing its full year guidance, saying it expects sales to be down mid single digits. a check on nike, again, shares down 5%. again, pulling their guidance. new ceo taking the helm. we're going to talk much more about this company coming up a bit later in this show. a busy day of trading shaping up in europe after a wild session in asia that saw hong kong surge for a sixth straight sense. jp yonge standing by in singapore. jp, let's start with you. >> good morning to you guys, frank, out there. not a great day for asian markets. there's a risk-off for many stockmarkets across the region. we start with japan. pulling back in today's session. yields also worth watching because the summary of opinions show that many policy makers say they favor going slow in normalizing rates. you might not see much movement in that particular area. really, the bond market is something to watch out for. also they didn't seem to benefit

this is an awkward one for nike. nike. john donahue was not on the call. it was led by matt friend, the cfo and executive vice president. he said they're withdrawing guidance. so there was some risk that was going to happen, either that or reducing guidance to set the table for the new ceo. they're withdrawing the full guidance altogether. and that leaves analysts guessing on the numbers. other headlines from the call, he thanked john donahue for landing the company through the pandemic and the digital transformation. he's excited, friend said, to welcome elliott back to nike. it bruz a power connection to our employees and culture. of the employee response has been tremendous. and we do know that. he is very well liked within the organization. we know that he was, for instance, an intern at the company, worked his way up to the head of the consumer marketplace. as far as results, melissa, in line in terms of revenues. down 10 fe down 10% from the year before. key market of north america, down 11% from last year. earnings were a lot better. nike often does

is this nike story or is this a global sportswear story? >> it feels like a nike story. really awhat you've gotten is te competition that's come through from other sportswear brands, whether it be nike, under armour as well playing in this space as well, the likes of others, et cetera. the growth and development of others, yes, has been important. but nike itself is struggling itself with that innovation. >> we'll see what shares do in today's trading session, down quite heavily after hours. >>> the energy stocks premarket, we saw a big spike in those shares yesterday. exxonmobil seeing some of those gains. chevron and occidental also higher. a quick check of u.s. futures on this wednesday morning. we're still a few hours away from trade. we're seeing a modest decline of the s&p. the dow jones set to fall by 0.3. that's it for today's show. i'm carolin roth. "worldwide exchange" is up next. we'll see you tomorrow, bye-bye. (man) look at this silly little sailboat... these men of means with their silver spoons, eating up the financial favors of the 1%. what would become o

that is the first major announcement from the nike's new ceo who took the helm of the group just lastk. now the deal comes at a time when nike has been under pressure from investors after declining sales, but nike will also have to renegotiate its deals with the nfl and the mlb as uniform suppliers soon with both contracts expiring in just a few years. and we are sticking with basketball, the wnba players have decided to opt out of the current collective bargaining agreement two years before its expiration. the league has been hugely growing in popularity, with tw2024 being a break through year. the salaries have yet to reflect the success, according to union leaders. now they hope to secure higher pay for the players after this breaking record year. and also improve their benefits and working conditions for this generation and the next generations of the game. >> okay, charlotte, thank you. >>> as can you imagine, a world series matchup between teams from the biggest searies in america may not be the cheapest tickets in town. the tickets begin at over 1,300 dollars on stub hub. and i

earlier this month, nike reported a10% drop in sales from june to august.dragged down profits by nearly 30%, when compared to the same period one year ago. retail analyst sam poser laid out the road ahead for nike with the new boss at the helm. 2020 where i wrote he was retired, leading the us wholesale business which a lot of resources were dropped from but he was very well liked from what we understand and recently he was asked to back which at nikkei and from what we understand people at nike and those who used to work at nike are very positive about his return, which i think will help facilitate success. what will be his first priority is? getting everybody motivated and making sure he has the right people in the right places and given he was with the company for so long i believe he knows what... how to do that. that can happen fairly quickly. the question is with product innovation, that takes time. i believe there is product likely in the sample rooms that never got picked from under the old administration that may be able to speed up the process but

i think there's three things nike has to deal with.eeds to be fixed, external relationship with partners needs to be fixed and i think the relationship with consumers needs to be fixed. your question about how long? the first two are going to be really quick. we are talking about this. >> i've heard morale changed overnight. >> yeah. it's like people are having parties on campus. number one is good and now he has time there. number two will happen pretty quickly, too, because the -- this is where he grew up. he knows this business and they know him. number three, there's lead time to get product out there. then they can sync up the story. >> that's the problem, getting the right product. hill has come up through the sales organization so he knows what makes a hit and what doesn't. where did nike go wrong under donahoe on the innovation and hit front? and how do you think they have to pivot? >> what's really interesting, you and i talked to a lot of these people. i didn't know elliott. looking forward to spending -- >> i didn't either.

we'll decision iscuss that. >>> plus, do nike shares have a reason to run higher?'s when "fast money" returns. >>> missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. ♪ i wanna hold you forever ♪ hey little bear bear. ♪ ♪ ♪ i'm gonna love you forever ♪ ♪ ♪ c'mon, bear. ♪ ♪ ♪ you don't...you don't have to worry... ♪ ♪ be by your side... i'll be there... ♪ ♪ with my arms wrapped around... ♪ doors lead us to places we've never been. your dedicated fidelity advisor can help you open those doors. they can help you create a retirement-income plan designed to balance growth and guaranteed income. and provide access to specialists who help with estate planning to look out for future generations so you're not just growing and protecting your wealth. you're sharing it. because doors were meant to be opened. great job, everybody! >>> welcome back to "fast money." stocks hitting freak recording to start the week. the dow and the s&p 500 closing at new highs, and the nasdaq jumping 0.9%. nvidia up 2.5%, notching

unfortunately nike is beyond that limit. especially if they turn out to not be your cup of shoe when they come in the box. i know politicians are trying to cash in on the price gouging. vice president kamala harris is even trying to bend this. i do know what will work. a savvy consumer that is beginning to upset the entire scaffolding of price hikes that we have been hit with since the pandemic. those price increases are going to have to be rolled back one way or another. or your ceo is going to get rolled, just like we saw at nike. i don't think it is a consultants -- coincidence. starbucks lost his job during the year of the $7.25 pumpkin spice latte. that is another tripwire that the consumer wants to sever. it coffee should not be the price of their lunch. interim ceo of aaa, scott boatright, -- former ceo -- we discussed this. >> there was a pullback on the consumer. i think there is more of a macro resistance to inflation in general in california. we watch the stuff very closely because there are three things. one of t

hiking boots because nike paid openai a lot of money to recommend those services.r at the least, i would like complete transparency if the ai agent says i found a great pair of nike boots that it is recommending that pair because of nike paying something to have that recommended and not because that really is the best thing necessarily for my hiking style or where i'm going. i worry about that. i think this is a case where the ftc could take action and really try to restrict the business models that the companies use or manage that there be transparency around any sort of pay for serving you some kind of content or recommendations. and i worry very much about those business models. host: we will take viewers who stick around on c-span over to a discussion with government officials from nasa, the commerce department, the faa about the commercialization of safe, what it means for the economy, and before we do that, jeremy kahn, what role do you see ai playing in those big issues? guest: well, ai is extremely important for space exploration, and we will not get to mar

conversation, in terms of nike's woes, we always talk about the competition that nike is facing, withhoka. is there demand for that? are we ever going to look back, say, those hokas, i found those on stock x. >> yeah, i mean, actually, hoka, new balance, on, these have all been some of the fastest growing brands and traded products on the resell marketplace. but i will still say that nike has incredible strengths with one of the biggest brands, doing really well in performance running, doing really well in performance basketball, and i'm not going to bet against them in the long-term. >> okay. fair enough. in terms of how many trades are -- 50 million plus trades on your platform, which is a staggering number. how does that get impacted by what's going on more broadly in the economy, if at all, or in the stock market, for that matter? >> so, you know, we're in a four-year inflationary cycle, we've had interest rates, we've had consumers that have been hit hard. we're obviously a consumer discretionary platform, and so, we see all of those macro headwinds that have hit consumers the la

nike can make a comeback and won't take a decade.n donahoe arrived ceo january 2020 direct to consumer was all the rage in retail warby parker glasses, kasper and harry spence donahoe previously a silicon valley service now and ebay wanted to make sure nike wasn't tethered to that obsolete ball and chain of brick-and-mortar stores within months reorganizationed the company to focus on a niche of sports and more ordinary people less on local distribute beers more on nike.com at first in a pandemic appeared to work. sales doubled fiscal 2021. roads 19% for the year didn't last. turns out athletes are the changemakers less attention on them meant less innovation. peep shopping in general retail stores even physical ones. scrappy competitors took the third-party shelf space nike aban abandoned. good news. taking the reins, yes. has to reinvigorate product and reconnect with retail partners but can show progress i bet in three years or less. nike needs more rediscovery. >> jon, felt recognition came that, okay swapping out guy at the top,

nike is a $50 billion rand nike is down double digits and hoka is on fire. still a small company that is still on fire and the street has been waiting when will they start discounting? it hasn't. on top of that, uggs had said they really thought they would return to some kind of normal environment of discounting that also hasn't happened. margins are super strong and discounting product is down year over year. nothing to poke holes in here which is why the stock is up double digits. same with skechers it is growing through volume, not just pricing they are selling more units and collaborations with snoop dogg and martha you name it. these two brands are gaining share from nike as mikenike has failed to innovate. >> let's talk about the broader luxury sector. we saw a lot of reports and weakness in china weighing on the stocks is there something else investors should be aware of >> obviously, we saw during covid and after the largest luxury boom we've ever seen. you know, the comparisons are very difficult of course, china has been the real problem reporting

>> let's start with nike. it's the biggest drag on the dow after either earnings, revenue was weaker than expected. and it withdrew forward guidance. the new ceo has not taken the helm yet, but has a big cleanup job ahead of hem. >>> unitedhealth with a medicare problem at one of the big own 13%. there's your hint. >>> oil is interesting skirmish is what's going on with they comments from saudi, what opec is now denying, whether oil is going to see a bearish potential downward to the $50 price level, or as we heard the last hour, say these are pure rumors, maybe we'll start to see the oil price higher. >> did you see the show rundown? that's where we're going to lead the show. i think it's an appropriate place to lead it. you are right. this is like "days of our live" opec version. >> it's always a soap opera. >> all right. so let's start there. the real story, folks, in oil may not be why prices are up, but why they're not rising even no more given the fears of a retaliation. you also had, to kelly's point, a

you could certainly draw your nikes there. do not realize tim cook has a side gig being the lead independent director of nike. nike has been going through a tumultuous period and tim cook has been helping out. he helped bring on their new ceo that has all of the hallmarks of a tim cook higher so we will see what happens to nike with the new leadership. ed: -- caroline: busy as always. we appreciate it. that does it for this additional bloomberg technology. ed: a recap on the pod. find it online on apple, spotify, high heart. from london and san francisco this is bloomberg technology. ♪ ♪ ow! whoa! watch where you're going. yeah mom, pay attention. what if it's a concussion? hang on, i'll look it up. uh... i'm probably fine... probably? we noticed something wasn't right and got her to a doctor. i thought i was okay, but i had a concussion. sometimes, it's hard to tell on your own. don't mess with your melon. if you hit it, get it checked. ♪ ow! whoa! watch where you're going. yeah mom, pay attention. what if it's a concussion?

nike shares down pretty sharply. economic news, jobs in focus today. a few minutes, 8:15 eastern time, september adp private payroll report. economists expecting addition 128,000 jobs last month. on friday the government's official september labor report. >>> anda 00 starbucks coffee shops unionized. ba ritas a store in northwest washington state voter earlier this week. still the vast majority of starbuck shops are not unionized. new starbucks ceo brian niccol said the company is committed to bargaining in good faith to craft a labor deal. >>> shares of humana sharply lower. prelimi preliminary data shows lower ratings for medicare advantage plans, something we don't see very often. for a company on the size of, with that much -- it's a blue chip. really. look at that. percentage loss, almost 23%. really unbelievable. word of that downgrade from centers for medicare and medicaid services ahead of the official release due around october 10th. humana says 25% of its members were be in plans rated four stars and above

create a beautiful website in minutes with godaddy. >>> some news on nike reviewing the wnba for tenrs making it the biggest merchandise marketing and content partner. the contract with the nba was reportedly worth $1 billion and while it is unclear how big the contract is a person familiar with the matter tells cnbc it is deal is, quote, much bigger. interestingly, nike's ceo elliott hill speaking for the first time since taking over at this big event in new york last night. here's what he said about the company's direction. >> for the last 50 years, 50+ years nike's been very much about putting the athlete at the center of the conversation and that helps drive innovation around product and storytelling and et cetera. so we'll continue to do that nike's always been about growth and growing sport around the world and we do that we grow the industry we make the industry bigger and we'll continue to do that. >> just a reminder, guys this is not someone new coming into nike. this is a 32-year veteran that started as an intern and worked his way up to ceo replacing john donohoe, somethin

hiking boots because nike paid openai a lot of money to recommend those services.r at the least, i would like complete transparency if the ai agent says i found a great pair of nike boots that it is recommending that pair because of nike paying something to have that recommended and not because that really is the best thing necessarily for my hiking style or where i'm going. i worry about that. i think this is a case where the ftc could take action and really try to restrict the business models that the companies use or manage that there be transparency around any sort of pay for serving you some kind of content or recommendations. and i worry very much about those business models. host: we will take viewers who stick around on c-span over to a discussion with government officials from nasa, the commerce department, the faa about the commercialization of safe, what it means for the economy, and before we do that, jeremy kahn, what role do you see ai playing in those big issues? guest: well, ai is extremely important for space exploration, and we will not get to mar

first of all, nike we'll talk about that later on.y more than 5% after hours after the company withdrew it's guidance. second of all, geopolitics. obviously. we saw the major esh clagz yesterday. and we saw the hike in the oil price. and now trends should continue in today's trading session and out-performance in the defense names, but airlines did underperform in yesterday's trading session. and also keep an eye on tesla. the company is giving us an update on deliveries later on today. >> so you mentioned oil prices. they rose more than 2% in the immediate aftermath of iran's missile attack on israel. should we expect a further spike or some civility? >> look, that's a very difficult question to answer. obviously it very much depends on the length of the spike in the oil price. they did raise once again today, but i do want to tell you there's a couple of factors here that are bearish for the oil markets, meaning they're limiting the price gains here. first of all, there was still a lot of spare capacity in the middle east, so a lot

but nike has such a strong hold on shares on consumers.oing through a weak spot.>> yes, a weak spot that might continue for some time, but i'm sure you will be the first to hear it. >> hopefully, yes. i thought you were going to bring up the goldfish.>> no, we talked about that earlier. i have very teenage taste in food, not like yours, not your sophisticated taste. we are up in the s&p, by the way, u207%p .8, we have a lot more market coverage for you straight ahead. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. our advanced matching helps find talented candidates, so you can connect with them fast. visit indeed.com/hire (man) look at this silly little sailboat... these men of means with their silver spoons,em fast. eating up the financial favors of the 1%. what would become of them when they discover robinhood gold allows others to earn their very liberal rates on idle cash, unlimited deposit bonuses and handsome retirement matching? they would descend into chaos. merciles

hiking boots because nike paid openai a lot of money to recommend those services.r at the least, i would like complete transparency if the ai agent says i found a great pair of nike boots that it is recommending that pair because of nike paying something to have that recommended and not because that really is the best thing necessarily for my hiking style or where i'm going. i worry about that. i think this is a case where the ftc could take action and really try to restrict the business models that the companies use or manage that there be transparency around any sort of pay for serving you some kind of content or recommendations. and i worry very much about those business models. host: we will take viewers who stick around on c-span over to a discussion with government officials from nasa, the commerce department, the faa about the commercialization of safe, what it means for the economy, and before we do that, jeremy kahn, what role do you see ai playing in those big issues? guest: well, ai is extremely important for space exploration, and we will not get to mar

. >>> nike closing a deal to renew its exclusive contract to be the uniform and apparel provider for the nba and wnba for another 12 years. n nike's last deal was reported to be worth $1 billion back in 2017 sources tell cnbc the new deal can be characterized to be much bigger than the previous one. >> i'm excited for the wnba. i think we're going to win the finals i don't want to jinx us. let's not talk about it anymore. >> there's time, frank. >> silvana, thank you. see you later in the show. >>> turning attention back to the markets. outside the mag seven and nvidia s&p closing down fractionally. the russell 2000 and small caps were the worst performers. joining me now is the investment partner at the callan investments. >> good morning, frank. >> we see bond yields rising and equities rising at the same time before the inverse that seems to be a sign of a healthy economy. why is the small caps are not taking off as many people expected >> i think the market right now is looking at the strong economy and rates are moving up with the expectation that maybe because the economy is so

nike is seeking to reset expectations before incoming c.e.o.tt hill takes the reigns later this month. the company reported a 10% fall in fiscal first quarter revenue just short of the average analyst estimate. but nike's gross margin and sales in china exceeded expectations. bloomberg has learned that boeng is considering raising $10 billion by sell unstop stock. they're looking for ways to replenish cash reserves further decompleted by the ongoing strike testimony share sale isn't seen as likely for at least a month as they struggle to assess the cost of the walkout by 33,000 workers. later today, emmanuel macron will be speak at a panel here at the berlin global dialogue with bloomberg's head, stephanie flanders. that's at 2:15 london time. tune in for that. this is bloomberg. it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to col

nike. cfra downgrading the company to hold.price target to $77, keeping a neutral rating, saying turnaround plans are taking longer than expected. ubs raising its price target to $82 while maintaining a neutral rating, calling recent weak earnings unsurprising and sing the risk reward is balanced. joining us is aneesha sherman of bernstein sticking with an outperform rating, saying "while we remain positive long-term we expect the stock to state limited -- to stay limbo short-term." explain. there are so many people who are so bearish on nike, especially at a time there withdrawing guidance in seeing another significant decline in their sales in the third quarter. how are you bullish? aneesha: nike is in a very different place than it typically is in the cycle as well as as a stock. sentiment is low, it is an extremely uncrowded long. it is the bottom decile of our crowning analysis. this stock is poised to rebound on any signs of good news. the stock has been up 20% over last couple of months on expectations of a ceo change in

nike earnings came in higher than analysts projections, but sales are still down as nike continues to shift to more direct to consumer options. instead of selling shoes at other stores. nike stock down initially 7%, now down about 5% as well. taking a live look at the markets, a little bit of a recovery october. again known to be kind of a volatile month. and the situation in the middle east certainly weighing heavily on wall street. but the dow jones, the nasdaq and the s&p 500 are all up slightly today. several people say they recently had pricey concert tickets stolen from their ticketmaster account. ticketmaster believes scammers gained access to the personal email accounts of some customers and stole tickets. according to market watch, at least two people had taylor swift tickets that cost thousands of dollars. the site says several other people have fallen victim to similar scams. escuela de mar del. >> hi. >> we are listening to the sounds of san francisco's mission district courtesy of a new playlist called the bob spotter. now it is inspired by shot spotter, used by police ac

does china turn from a headwind to a tailwind for nike?we're very encouraged by the stimulus that's been recently announced. having said that, thor in term is not great for nike. we did take our numbers down. we expect a very weak in china for this and next quarters. but we'll have to see how quickly the stimulus will come through. the wealth effect could be very interesting for them as we move through the rest of their fiscal '25. >> lorain, for now, we'll leave it there. we'll see what they say this evening. >>> now we move to contessa brewer for an update on the situation in israel, where iran has launched a missile attack. >> reporter: many missiles coming into israeli air space. the israeli army radio says there have been at least 200 missiles launched into israel from iran at this point. you're seeing some of that video. air raid sirens accompany those incoming ballistic missiles. we have some heads up that u.s. officials believe this was coming in, and tel aviv has not been the only target, though it does look at this point like mos

people may not want to order nike's online.don't want to do that but it does not seem to be a problem for hoka. he also sounded happy with uggs performance saying i could not be more pleased with the year to date results. they use to primarily be a winter brand but they have made so much progress it is now a strong year-round brand. in the end, another rock solid quarter from deckers, one of my favorite companies in the entire consumers in base -- space dating back to 2012. i hope you did not get scared by that profit-taking downgrade. bottom line, from where i sit it is as fresh as ever. after today's run i think they can keep charging to the july all-time high up another 10%. after that, who knows. i can tell you this. i will only stop being bullish when the company gives me a reason to stop being bullish. so far that has not happened. chuck in north carolina. >> yes. thank you for taking my call. >> thank you for calling in. how can i help you >> i called in june and spoke with you. your opinion was to hold chipotle and wait

nike looking to reset expectations before the new incoming ceo takes the reins. revenue in its first fiscal quarter has fallen 10%, just short of the average analyst estimate but nike's gross margin and sales in china have exceeded expectations another story we are following, apple is preparing to announce a new low-end phone early next year alongside upgraded ipads. sources say it is nearing production of an updated iphone se that will become its new entry-level model. apple is aiming to manufacture new ipod air models for release at the same time. keep it here with us. this is bloomberg. ♪ ♪ haslinda: taking a look at some of the benchmarks in asia. take a look at where the hang seng index is are now, surging 6% as they come back from holidays. lifting the benchmark a given the stimulus package which we saw from china trying to reverse the slump in the property sector and also to boost its economy. . the nikkei to 25 back from lunch, down about 1.5%. losses do for the kospi, currently down by 0.2%. taking a look at where we are in terms of samsung shares managi

back to nike.ll that being said, you and i continue to have this conversation about marathon or sprint. so, which is it, jim? >> i think that because of the destruction under donahoe, it can't be a sprint. it can't be what happened in the short time that laxman narasimhan didn't do so well at starbucks. he did not do the -- create the kind of destruction that donahoe did, particularly because this shift away for, say, foot locker, who they just trashed, mary dillon, foot locker's coming back. watch. >> all right. you are brutal sometimes. >> yeah, why not? >> nortmost of the time, not. >> we're brutal to bryce harper. we can be brutal to these people. i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i

, with dick's, but particularly nike with foot locker, aspirational buying of sneakers, so expensive. but more importantly, david, we're going to have to stay more focused on nike because there could be a turn. >> some say that turn is going to take quite a while, jim. >> i'm not denying that. >> a marathon, not a sprint. >> exactly. >> at nike. >> it's not a starbucks, by in means. there's a lot of damage done by this man. >> let's get the opening bell here. at the big board, it is oracle. software company. at the nasdaq, sanofi, celebrating one million patients on dupixen, which treats eczema, copd and some other drugs. >> we have the co-founder in the news talking in the "ft" about, look out, the drugs for wait loss lose protein as well as fat. they're trying one that just loses fat. i would point out that, don't bet against lilly ahead of the quarter. >> speaking of the quarter, jim, pepsi tomorrow, delta thursday, jpm, blackrock, friday. you think it's going to be -- what's your feeling about the season? >> i look at the -- i have what i'm looking at. we just call it the ten. i h

if you're trying to visit nike dot com, make sure you're not really on night keys dot com. and if you find yourself on a suspicious site, close the window immediately. if an ad leads to a deal, it seems too good to be true. check the official brand websites 1st. if you don't see the same offer there, be careful and always double check phone numbers from ads by searching for them on as the official sides. but anyway, how do criminals get to the top of google search results? google's algorithms rank search results based on various fact tests. these include recency, specific keywords to your location, and the technical details of a website. this is called organic search. sponsored ads are excluded from this to appear. in this highlighted section. you must enter the 8 digital auction advertise us bit on how much they'll pay per click and google ranks the ad based on its relevance and quality. google charges advertise us between $0.05 and $4.00 euro, so clicked on everett's good. that's use a i tools to detect fraud, spots criminal. so finding ways to bypass them, creating optim

nike has sealed a 12 year extension due to continue being the exclusive power provider for the mba andd wnba. as part of the deal, the sports training will provide on—call uniforms for the leagues until 2037. this marks the first major deal under new chief executive who took over the company last week. in other news, disney has finally announced that it will name is next chief executive in 2026, this is the first timeline the company has publicly given for appointing a successor to current ceo bob iger. the company has also named morgan stanley former boss as the new chairman of the board. hejoined the disney board. hejoined the disney board in 2023. that's it for this edition of business today, thank you for watching. hi, i'm lola with the catch up. tonight — what could be the future for young drivers, faraj�*s milkshake saga and a tiktok dj. a police officer has been cleared of murdering an unarmed man he shot in south london. chris kaba died in stratton in september of 2022. his family said the verdict left them with a deep pain of injustice and that it represented a failure for all

yesterday, david said, nike's turn, this will take on nike.avid, i can't tell you -- these things are hard to turn. >> you're talking about nike? >> nike. >> no, there's a lack of patience, certainly, on the part of many investors. we talked about or the average mutual fund. how much they've declined through the many years. >> yes. >> and when you're talking about a multiyear turnaround. shareholder basis is still going throb to be there for you when you get to the other side. >> so true. look at what honeywell is doing. they wanted to reshuffle its portfolio, and they did a very good -- a $10 billion business -- getting rid of? i don't know. >> i put something together on it -- >> i did, too. >> oh, good. to actually reproduce something for our audience because the stock subpis up 3%. we wanted to share some highlights. but to your point, it's an big percentage of the company, 10% ebitda. they have changed it overall. >> yes, they have. they look to get it bun end of 2025, maybe early 2026. the sense of revenues, 3.7, to 3.8 billion, you're t

exclusive apparel providerfor the nba being the exclusive apparel provider for the nba and wnba —— nike part of the deal to sports giant will provide on court uniforms for leaks until 2037. this marks the first major deal under the new chief executive which took over the company last week. in australia, employees have the right to ignore their bosses outside working hours thanks to a recent law which enshrines the "right to disconnect." the legislation, passed earlier this year, protects workers who refuse to monitor, read or respond to contact from their employers outside work hours. more than 20 countries, including france, have brought in place similar laws. from sydney, phil mercer reports on the impact at the workplace. family fund beats work stress, any day of the week. kelly gale is starting a new position in marketing in sydney. she has made sure it will not be such a demanding environment as her previousjob. i demanding environment as her previous job-— demanding environment as her previous job. previous “ob. i don't know what it was previous job. i don't know what it was but _

nike, they must have been hard to stop the train wreck. rank and file cannot believe how poor the company is doing given its reputation. likely -- nike alienated its partner footlocker like trash. with the ousted ceo, when you are charging hundreds of dollars the customer might want to try them on rather than just ordering from the website. as for southwest, they have offered an incredible plan to change some of its ways. they should have done this years ago but they finally have it on the right track plus they have a board member that bought more than $100 million worth of stock on the open market. the board member said he likes the management plan. he is the cofounder of indigo, india's largest airline. i'm not sure be for the last out of him. they usually get a little more of their way in the situation. starbucks has taken down $1 billion worth of pfizer and they want the board to bring them ahead of dr. albert bourla, ceo. pfizer has not done anything for ages even after he got aliens of dollars for the covid winfall. the management ha

let me go to nike. i said i'd be last, but nike won more. and then i have i have some some closing comments. and thank you all so afghanistan, quickly, we saw last statements regarding tom west's transition from the special representative for afghanistan to office on sanction coordination. what does this mean for u.s. policy toward afghanistan? is afghan this time a u.s. foreign policy problem? of course it is. and we will continue to stay engaged on afghanistan. it remains an enduring priority. the work will now be led within the state department by the chief of mission of the u.s. mission to afghanistan, karen decker, special envoy amiri and ambassador john mark palmer shine. and then if you're if you're better than me for one more, because there were comments that i wanted to make at the top that i wasn't able to have a little bit of announcement. we are pleased to announce that as of today, the daily press briefings at the department of state will include american sign language interpreter. this is in addition to the live captioning we p

. >> by the way, remember, nike. >> and nike. that's right. another potential turnaround.s are tasked with this idea of bringing the culture back, and that's going to bring everything else in line. >> well, look at -- >> reinvigorating the culture, i should say. >> if you go read ken langone's book, written, by the way, in conjunction with james kaplan. >> the one -- "why i love capitalism"? >> home depot had a broken culture under nardelli, and there's this tremendous scene in the book where langone's and bernie marcus had to go fire nardelli and the reason why they fired him is because the culture is broken. so, in a very short time, they fixed the culture, and it was one of the great fixes of culture because look how the stock did even though it had a broken culture. in the book, there's this amazing scene where they go up to fire nardelli -- oh my god, the book is so good. the book is so well written. first, langone's goes up and nardelli tells him, i'm not going to use the words because i'm cognizant this is a family show, and he comes back to marcus and says, you go

nike at the same time is not using the retail sneakers and they have the retail strategy. here comes the second advantage from adidas. they have rediscovered independent retailers, which they also neglected and didn't work very well. so, yes, to sum it up, it's the products, which are more popular, but it's also their save strategy through independent retailer, ws, which working a lot better, which brings them in a very comfortable position and also be very confident about the future. on top of that is their focus on the united states. here, the basketball space, which, again, is very popular in the states. they just opened an office in l.a., which gives them more of the market presence, i would say, in the space. so all in all the shares seem to pay off and they don't show positively because they've had a huge run already. >> 5% we've seen already across one year. ann annette, thank you so much for that coverage on adidas. >>> on to the auto sectors, stellantis fell 20%. it also comes just a day after the ceo warned that ev delays could pose a trap in the industry, bringi

we've had nike, fedex, things th. fed ex, they're a company, 90 billion in revenue, ship some stuff around. we'll see if we get any prenegs. october, january, february, i don't think it's going to happen that much. i think it's going to be more the q4 guidance. that's where i see the numbers hoblgy stick more. >> let me bring this point up that the). >> only so far for megacap tech opens the up side math there that were harder to envision. we've had a broadening. the expectations have maybe dropped a touch so that helps the overall scene as you really get into the thick of the earnings season. does that make sense for you? >> do you still feel like the bar is as high as it ever was for megacap? >> all they said was the sum of the big 6 weren't as good in q3. >> a lot of other stuff was. >> the ones people hated on july 1, apple and tesla, they were the best ones. >> they were the worst. >> the equal weight in the quarter was up 8% which was up 5. >> isn't that what you want? isn't that what you wanted? is. >> i guess,

. >> yeah, are you speaking of nike, thinking of nike, particularly, or -- >> just in general, you know, people returning to the stores, not ordering as many things online >> i wasn't so delighted -- i believe it to be the case, them seeing moderating expectations it's not ideal >> no. >>> a lot more "fast money" to come here's what's coming up next >>> newmont mining getting the shaft. as the stock notches one of its worst days ever. the results that had investors scrapping the stock. and what the chart master is mining in the neck any calls. >>> plus, hopes for an obesity pill getting easier to swallow the name inching closer to the finish line. and what's going on to help tip the scales you're watching "fast money," live from the nasdaq market site in times square. business internet. employees get the information they need instantly. this is how business goes further with t-mobile for business. >>> we've got developments on the news we brought you at the top of the hour. cap stri responding to the u.s. judge, saying today's decision is disappointing and we believe in correct on the l

nike remaining the number one brand in both apparel and footwear. piper noting the brand has lost mind share. up barely 2.5%. elf beauty remaining the position as aggen z's number on brand. instagram was found to be the most used platform among teenagers at 87% but still falls behind tiktok which is teen's favorite social media app. >> julia boorstin. just getting started. navigating the tech trade. eric jackson is back. live at the new york stock exchange. you're watching "closing bell" on cnbc. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley power e*trade's easy to-use tools make complex trading less complicated. custom scans can help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley do you have a life insurance policy you no longer need? now you can sell

also still shopping at lulu, still buying nike gear how do you know that connection is firm and that've already shown they're willing to try all sorts of new things? >> look, i think in our business, it always comes down to product it's product, product, product, and innovation you know, our number one value as a brand is to make great product, and that starts at the textile level. vuori has innovated, we've prichb that we brought really incredible innovative products that strike this perfect trifecta between performance, comfort, and all-day wearability. that recipe is what we apply to everything we make, and i'm confident that as long as we continue to keep that product obsession, institutionalize that product obsession and take incredible care of our customers, the future looks bright >> joe, it's karen, thank you for being on big fan, i got the joggers, the polo, the whole deal i'm really interested by this -- i know you want to grow your stores, but seeing lots of times of vuori and alo and lululemon on three corners of a busy intersection, how do you think about, when customers