Afleveringen
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Microsoft Corp. reported better-than-expected sales and profit, suggesting customer demand hasn’t been rattled by tariffs and wider economic uncertainty. Total revenue in the fiscal third quarter increased 13% to $70.1 billion, while adjusted profit was $3.46 a share, the company said in a statement Wednesday. Analysts on average estimated sales of $68.5 billion and adjusted per-share earnings of $3.21.
Meta Platforms Inc. posted first-quarter sales that beat Wall Street estimates, a sign that the company’s advertising business is so far weathering the Trump administration’s ongoing trade war. Sales were $42.3 billion in the first quarter, the maker of Facebook and Instagram said Wednesday. That beat analysts’ estimates for $41.4 billion for the quarter ended March 31. The company also said current-quarter revenue will be in line with analysts’ expectations, and that it will boost spending as it continues to invest in artificial intelligence.
Qualcomm Inc., the biggest maker of chips that run smartphones, gave a tepid revenue prediction for the current quarter, underscoring concerns that tariffs will hurt demand for its products. Revenue in the period ending in June will be $9.9 billion to $10.7 billion, the company said Wednesday in a statement. The midpoint of that range was slightly below the average analyst estimate of $10.33 billion. The outlook renews concern that the market for smartphones is suffering from a looming trade war.
For instant reaction and analysis to these results, plus other tech earnings, hosts Tim Stenovec and Carol Massar speak with Bloomberg Intelligence senior technology analysts Mandeep Singh and Kunjan Sobhani. Bloomberg Technology Co-Host Ed Ludlow also joins alongside Clockwise Capital Technology Analyst James Cakmak.See omnystudio.com/listener for privacy information.
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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Beth Fouhy, Partner at FGS Global, and Hadriana Lowenkron, Bloomberg News National Politics Reporter, recap what we've seen from President Donald Trump's First 100 Days this week. Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, discusses the broader semiconductor space, comments from Nvidia's Jensen Huang, and Qualcomm. Jennifer Welch, Bloomberg Chief Geo-economics Analyst, explains new China-US rhetoric as Nationalist support for Xi grows. We break down the market moves of the week with Gina Martin Adams, Chief Equity Strategist at Bloomberg Intelligence. And we Drive to the Close with Brooke May, Managing Partner at Evans May Wealth.See omnystudio.com/listener for privacy information.
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Shari Redstone wanted to know what 60 Minutes was going to say next about President Donald Trump.
The CBS newsmagazine aired two segments involving Trump on April 13 that angered the president, one on his plans to take over Greenland and another an interview with Ukraine President Volodymyr Zelenskiy that discussed US policy in the region. Trump immediately lashed out on social media, saying 60 Minutes should “pay a big price” for its frequent reporting on him, which he called “fraudulent.”
Following Trump’s post, Redstone, who is the chair of CBS’ parent company Paramount Global, had a conversation with CBS Chief Executive Officer George Cheeks to discuss 60 Minutes’ upcoming slate of stories about the president. Redstone indicated which ones she thought were fair and those that could be problematic, according to CBS employees Bloomberg spoke with.
60 Minutes didn’t change its plans based on her feedback, the employees said. The network aired a segment Sunday about Trump’s cuts to the National Institutes of Health. Still, Executive Producer Bill Owens announced to his staff last week that he’s leaving, citing corporate interference at the most-watched TV news program in the US.
The 37-year CBS News veteran said in a memo to staff that it had become clear he “would not be allowed to run the show as I have always run it. To make independent decisions based on what was right for 60 Minutes, right for the audience.”
Also on Sunday night, correspondent Scott Pelley closed out the show with an explanation for Owens’ departure. “Paramount began to supervise our content in new ways,” Pelley told viewers. “None of our stories has been blocked, but Bill felt he had lost the independence that honest journalism requires. No one here is happy about it.”
Owens’ exit is the culmination of months of conflict between Redstone and CBS’ news division, during which the billionaire publicly criticized its decision-making and privately pushed for leadership changes, according to interviews with almost a dozen current and former Paramount employees, most of whom asked to not be identified discussing internal company business. Redstone, Owens and Cheeks all declined to comment. Semafor reported earlier some details about Redstone’s request to hear about upcoming stories.
For more on this story, Tim Stenovec and Emily Graffeo speak with Bloomberg News Entertainment Reporter Lucas ShawSee omnystudio.com/listener for privacy information.
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Matt Day, Bloomberg Technology Reporter, joins to discuss the latest from Amazon as it dismissed confusion around potential tariff labels on products. Bloomberg US Sports Business Reporter Randall Williams explains why Eli Manning might make a bid for the New York Giants and how he's setting up an investment group for the 10% minority stake. Jennifer Welch, Bloomberg Chief Geo-economics Analyst, sheds light on China's trade-war perspective and how the government is seeking to shape public opinion. Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst reviews Starbucks earnings out after the bell. And we Drive to the Close with Michael Green, Portfolio Manager with Simplify Asset Management.See omnystudio.com/listener for privacy information.
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Angela Stent, Senior Fellow at the Brookings Institution, breaks down the latest with President Trump's policy toward Russia and Putin’s Brief Ukraine Truce. Nathan Dean, Bloomberg Intelligence Senior Policy Analyst, joins to discuss tax-plan stakes and what comes next for reconciliation. Esha Dey, Bloomberg News Equity Markets Reporter, explains her story on Trump's first 100 days and the worst stock slump since that of President Ford in 1974. And we Drive to the Close with Carol Schleif, Chief Market Strategist at BMO Private Wealth.
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Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim Stenovec
Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.
You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.
Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BWSee omnystudio.com/listener for privacy information.
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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg TV & Radio Economics and Policy Correspondent Mike McKee CFO Briefing with Zach Wasserman, CFO of Huntington Bancshares and Bloomberg News Senior Editor Nina Trentmann Bloomberg News Wealth reporter Devon Pendleton Adrianne Yamaki, Founder & Managing Partner with Strategic Wealth Capital
A solid Wall Street week is ending with gains for stocks as a rally in the market’s most-influential group offset conflicting signals about progress in President Donald Trump’s trade negotiations.
The surge in tech mega caps put the S&P 500 on track for its longest advance since January. Tesla shares jumped while Google parent Alphabet Inc. climbed on solid results. Equities briefly lost steam as Trump suggested another delay to his higher so-called “reciprocal” tariffs was unlikely, raising pressure on nations to negotiate trade deals with his administration.
Asked about the possibility of granting another 90-day pause, Trump cast that scenario as “unlikely,” while speaking to reporters aboard Air Force One on Friday. Trump also said that he would not drop tariffs on China, the world’s second largest economy, unless Beijing offers “something substantial” in return.
Trump said he believed financial markets were adjusting to his tariff policy, downplaying the volatility that has hit equity and bond markets this month after he announced plans to hit about 60 US trading partners with higher duties.
Today's show features:See omnystudio.com/listener for privacy information.
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Acting CFTC Chair Caroline Pham offers her assessment of the commodities and derivatives markets amid recent volatility, the viability of the crypto industry, and why DOGE budget cuts are not currently a threat to her agency.
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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump said his administration was talking with China on trade, after Beijing denied the existence of negotiations on a deal and demanded the US revoke all unilateral tariffs.
“They had a meeting this morning,” Trump said Thursday during a meeting with Norway’s prime minister when a reporter asked about the Chinese statement.
Pressed on which administration officials were involved in discussions, the US president said, “it doesn’t matter who ‘they’ is. We may reveal it later, but they had meetings this morning, and we’ve been meeting with China.”
The exchange exposed the ongoing disconnect between Washington and Beijing, as President Xi Jinping’s government maintains a defiant stance despite Trump’s recent suggestion he could lower tariffs on China.
Separately, the US will demand that Russia accept Ukraine’s right to develop its own, adequately equipped, army and defense industry as part of a peace agreement, according to people familiar with the matter, pushing back on Russia’s insistence that the country largely demilitarize as a condition to end the war.
Meanwhile Google parent Alphabet and Intel reported quarterly earnings after the close of US trading Thursday.
Alphabet reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business.
First-quarter sales, excluding partner payouts, were $76.5 billion, the company said Thursday in a statement. Analysts had expected $75.4 billion on average, according to data compiled by Bloomberg. Net income was $2.81 per share, compared with Wall Street’s estimate of $2.01.
Alphabet needs to ensure momentum in its internet search advertising and cloud businesses in order to justify its heightened investment in the artificial intelligence race. Competition is prompting the company and its rivals to spend heavily on infrastructure, research and talent. While Google benefits from AI startups spending on its cloud and business tools, it’s also racing to present an answer to popular conversational AI chatbots, which consumers are beginning to think of as an alternative to using Google Search.
Intel Corp., the chipmaker attempting a comeback under new Chief Executive Officer Lip-Bu Tan, gave a weak forecast for the current period and said it’s cutting workers to bring costs in line with the business’s smaller size.
Second-quarter revenue will be between $11.2 billion and $12.4 billion, the company said in a statement Thursday. That was well short of the $12.9 billion average analyst estimate.
The cost-cutting plan will involve “eliminating management layers” to enable it to make faster decisions, Intel said. The company doesn’t yet have an estimate for the one-time expenses associated with the cuts, but expects operating costs to be reduced to about $17 billion this year and $16 billion in 2026. Bloomberg News reported this week that Intel is planning to slash its employee ranks by more than 20%.
Today's show features:
Ed Price, Senior Fellow (non-resident) at New York University and Former British Trade Official Sheila Kahyaoglu, Jefferies Managing Director in Equity Research Mark Douglas, MNTN President and CEO and Mandeep Singh, Bloomberg Intelligence Senior Tech Industry Analyst, on Alphabet earnings Ed Ludlow, Bloomberg Technology Co-Host, on Intel earningsSee omnystudio.com/listener for privacy information.
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Google parent Alphabet reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business. First-quarter sales, excluding partner payouts, were $76.5 billion, the company said Thursday in a statement. Analysts had expected $75.4 billion on average, according to data compiled by Bloomberg. Net income was $2.81 per share, compared with Wall Street’s estimate of $2.01.The shares, which have declined 16% so far this year, rose more than 3.5% in extended trading following the report.
Alphabet needs to ensure momentum in its internet search advertising and cloud businesses in order to justify its heightened investment in the artificial intelligence race. Competition is prompting the company and its rivals to spend heavily on infrastructure, research and talent. While Google benefits from AI startups spending on its cloud and business tools, it’s also racing to present an answer to popular conversational AI chatbots, which consumers are beginning to think of as an alternative to using Google Search.
Mark Douglas, MNTN President and CEO Bloomberg Intelligence Senior Tech Industry Analyst Mandeep Singh
For instant reaction and analysis, hosts Carol Massar and Tim Stenovec speak with:See omnystudio.com/listener for privacy information.
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Whirlpool Corp. maintained its full-year financial outlook despite uncertainly over global tariffs, saying their long-term impact will benefit its position in the US home-appliance market.
The refrigerator-maker still expects net sales of $15.8 billion, while ongoing earnings should be around $10 per share this year, it said in a statement. It also expects to cut more than $200 million of costs from its business.
Marc Bitzer, CEO of Whirlpool Corporation, discusses his company's quarterly earnings and path forward.See omnystudio.com/listener for privacy information.
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Eric Weiner, Bloomberg News Senior Editor, Equities Americas Katy Kaminski, Chief Research Strategist of AlphaSimplex Jefferies Senior Technology Research Analyst Brent Thill on IBM earnings Ross Gerber, President and CEO Gerber Kawasaki Wealth and Investment Management
Signs Donald Trump is rethinking the most-aggressive elements of his combative stances on trade and the Federal Reserve spurred back-to-back gains in stocks and the dollar, while soothing volatility across asset classes.
The S&P 500 rose 1.7%, though it pared an earlier surge that had swelled to as much 3.4%, as investors tried to gauge how seriously to take pronouncements of flexibility in negotiations with China and other trading partners. The greenback climbed against most major currencies.
After a report that the US would be willing to phase in lighter tariffs on Beijing over five years on Wednesday, Trump told reporters that China was “going to do fine” once talks had settled. Meantime, Treasury Secretary Scott Bessent said the president hasn’t offered to take down US tariffs on China on a unilateral basis.
Long-maturity Treasury yields fell as Trump allayed fears he would fire Fed Chair Jerome Powell. The yen slid as Bessent said America won’t be pursuing specific exchange-rate targets in its talks with Japan. Bitcoin jumped while haven trades like gold pushed lower.
Today's show features:See omnystudio.com/listener for privacy information.
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ICYMI: Joshua Ballard, CEO of USA Rare Earth, discusses the challenges faces American companies interested in producing and refining the crucial raw materials that are used in the likes of missiles, electric vehicles, MRI machines and other advanced technologies - while China stands as their global dominant supplier.
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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Tony Roth, Chief Investment Officer of Wilmington Trust Investment Advisors Julie Johnsson, Bloomberg News, Senior Aerospace Reporter Ross Gerber, President and CEO Gerber Kawasaki Wealth and Investment Management
Tesla Inc. backed away from an earlier view for 2025 sales growth and pledged to revisit its outlook next quarter, a sign that tariffs, an aging vehicle lineup and the backlash against Chief Executive Officer Elon Musk are having an impact on the electric-vehicle maker.
The company on Tuesday reported adjusted earnings of 27 cents per share for the first quarter, below the average analyst estimate. Tesla omitted an earlier prediction that sales would return to growth for the full year, saying instead that it’s “making prudent investments that will set up” the vehicle business for growth. That will depend on factors including production increases and the “broader macroeconomic environment.”
“It is difficult to measure the impacts of shifting global trade policy on the automotive and energy supply chains, our cost structure and demand for durable goods and related services,” Tesla said.
The dimmer outlook for the year follows a tough 2024, when the carmaker missed its annual sales growth target for the first time in more than a decade. It also fell short of analysts’ expectations for first-quarter vehicle sales, which were released earlier this month.
President Donald Trump’s tariffs are compounding Tesla’s challenges, and threaten to upend automotive supply chains globally and drive up costs across the industry. While Tesla is expected to be relatively less affected than many carmakers due to its large plants in California and Texas, its vehicles nevertheless contain some non-US components, and the company has warned of a potential impact.
Today's show features:See omnystudio.com/listener for privacy information.
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ICYMI: Bloomberg big tech team leader Sarah Frier joins to talk about her Businessweek column on YouTube Manager John Shahidi - and how he played a role in sending Trump back to the White House.
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Check out the new Stock Movers Podcast from Bloomberg. Subscribe for five-minute episodes on today's winners and losers in the stock market. Listen on Apple: https://apple.co/4kJ43ON Listen on Spotify: https://tinyurl.com/mr385jv6 Listen on other platforms: https://link.podtrac.com/h0zn7xir
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The Supreme Court is considering an emergency petition from President Donald Trump that could imperil the Federal Reserve’s ability to remain independent. And earlier today, President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell.
Trump said in a social media post Monday that “there is virtually No Inflation,” pointing to lower energy and food prices. “But there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump said, referring to Powell.
Economists widely expect Trump’s tariffs to boost inflation and slow growth, even if just temporarily. While inflation has cooled notably in recent years, it remains elevated. Powell, along with several of his colleagues, has underscored the central bank must ensure new levies don’t lead to a more persistent bout of inflation.
Trump has rattled Wall Street by repeatedly criticizing Powell and suggesting he had the ability to remove the Fed Chair before the end of his term. US equities sank on Monday as traders weighed the chances Powell gets axed, with the S&P 500 Index falling more than 3%.
Trump has privately asked his advisers about the possibility of removing Powell, while some administration officials have warned him against doing so, according to people familiar with the matter. National Economic Council Director Kevin Hassett on Friday told reporters that the president was studying the question of whether he’s able to fire Powell.
While the US economy grew at a healthy clip last year — at a 2.4% pace in the fourth quarter — economists see a tariff-induced drop in business investment and consumption driving a slowdown later this year. Meanwhile, progress on cooling inflation back to the Fed’s 2% target had stalled, but price growth slowed again in March, with the consumer price index rising 2.4% from a year earlier.
Today’s show features:
Lev Menand, associate professor of law at Columbia Law School on his latest Bloomberg Opinion column How Supreme Court Could Imperil Fed Independence: Judge & Menand & Bloomberg News Economics Editor Molly Smith Bloomberg Economics US Economist Stuart Paul & Bloomberg News Global Economy Reporter Enda Curran on the global economic outlook with IMF spring meetings ahead Bloomberg Businessweek columnist and Elon Inc podcast cohost Max Chafkin on his Big Take: Trump’s Agenda Is Shaped by Project 2025 Author, Not Elon Musk And we Drive to the Close with Jeff McClean, CEO of Solidarity WealthHosts: Carol Massar and Tim Stenovec
Producer: Justin Milliner
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Shares in Eli Lilly surged on Friday after its experimental pill helped patients shed weight and control blood sugar about as well as Ozempic, an advance that could turbocharge what’s already one of the fastest growing markets in medicine. Shares of the drug’s originator Chugai Pharmaceutical Co. also soared.
The triumph of Ozempic, the blockbuster diabetes shot from Novo Nordisk A/S, and related drugs including Zepbound and Mounjaro from Lilly, has set off an all-out push to develop a pill that’s easier to take and less expensive to make. While rivals including Pfizer Inc. have suffered setbacks, analysts said success is critical to creating the $130 billion market they predict by the end of the decade.Hosts Carol Massar and Tim Stenovec speak with Bloomberg's Damian Garde about the new pill could mean for Eli Lilly.
See omnystudio.com/listener for privacy information.
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Featuring some of our favorite conversations of the week from our daily radio show “Bloomberg Businessweek Daily.” Hosted by Carol Massar and Tim Stenovec.
Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio. You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Podcasts. Like us at Bloomberg Radio on Facebook and follow us on X @carolmassar @timsteno
See omnystudio.com/listener for privacy information.
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Netflix reported first-quarter profit that exceeded Wall Street forecasts, boosted by a recent price increase and a strong slate of programming across the globe, like the hit UK series Adolescence. The owner of the world’s most popular online TV network said in a statement Thursday that earnings rose 25% to $6.61 a share, easily beating analysts’ estimates of $5.68. Sales grew 13% to $10.5 billion, in line with projections. This is the first time Netflix has reported financial results without disclosing how many customers it added or lost — the main yardstick investors previously used to gauge the company’s performance. Management is forcing investors to judge its success or failure based on more traditional financial metrics. The company boosted operating income by 27% to $3.3 billion, beating expectations of $3 billion. Its operating margin of 31.7% was more than three percentage points above its own forecast.
For instant reaction and analysis, hosts Carol Massar and Tim Stenovec speak with Bloomberg News Entertainment Reporter Lucas Shaw and Mark Douglas, President and CEO of MNTN.See omnystudio.com/listener for privacy information.
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