Bloomberg Intelligence

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Bloomberg Intelligence hosted by Paul Sweeney, Scarlet Fu, and John Tucker

-Dan Ives, Global Head of Technology Research at Wedbush Securities, discusses OpenAI becoming the third major artificial intelligence developer to confidentially file for a public listing, joining rivals in an IPO pipeline. The company is working with Goldman Sachs Group Inc. and Morgan Stanley on a potential listing as soon as the fall, according to people familiar with the matter.

-Carmen Arroyo, Bloomberg Tech Reporter, discusses the Bloomberg Big Take story: “SpaceX IPO Forces Investors to Bet on Musk’s Entangled AI Empire.” Elon Musk’s imperial approach has made it difficult to decipher his companies’ true valuations. With the SpaceX IPO looming, some investors have raised concerns about SpaceX’s accounting practices, corporate governance risks and related-party transactions with other Musk entities. And as Musk aims for the stars, some investors have grown anxious about whether his goals are attainable, or if he’s bending the rules to pursue them.

-Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses the latest in biotech sector. Eli Lilly & Co. presented data showing its next-generation shot, retatrutide, can help patients lose 30% of their body weight over about two years.

-Jennifer Rie, Bloomberg Intelligence Senior Litigation Analyst, discusses Britain’s merger watchdog opening a probe into Paramount Skydance Corp.’s $110 billion takeover of Warner Bros. Discovery Inc. The Competition and Markets Authority has set an initial deadline of August 7 to rule on the deal, which would unite two Hollywood studios and major news networks.
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Bending Spoons has filing for an initial public offering in New York, joining a string of European tech companies seeking US listings. Bailey also discusses SpaceX’s upcoming IPO.

-Greg Pendy, Director and Equity Analyst at Clear Street, discusses SpaceX’s IPO. SpaceX's initial public offering is well oversubscribed, according to people familiar with the matter, as demand builds for a potentially record-setting debut.

-Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses Campbell’s earnings. The canned soup maker reported adjusted earnings per share for the third quarter that beat the average analyst estimate.

-Zachary Mider, Bloomberg Reporter on the Investigations Team, discusses the Bloomberg Big Take: “Top 1% Reap Most From a Tax Loophole Costing $48 Billion a Year.” What was once a minor leak in the US tax system is now a torrent that’s costing the government around $48 billion a year. The industry says estimates of the ETF tax break’s size are overblown, that millions of ordinary investors benefit and that it encourages long-term saving. Yet there’s been little public discussion or debate about the tax break or the rapid growth in its exploitation.
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Bloomberg Intelligence hosted by Paul Sweeney, Scarlet Fu, and Kristine Aquino

- Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses Lululemon earnings. Lululemon Athletica shares fell to their lowest level in eight years after the company cut its annual forecast due to deteriorating performance in North America.

-Matthew Bloxham, Bloomberg Intelligence Senior and Tech Analyst, discusses the top tech stories. Broadcom Inc. CEO Hock Tan said the company is now less focused on dealmaking because AI offers stronger growth potential. Matthew also discusses SpaceX’s IPO.

-Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses SpaceX’s IPO. SpaceX has received orders for more than the shares available in its $75 billion initial public offering, according to people familiar with the matter.

-Jessica Nix, Bloomberg Health Reporter, discusses the Bloomberg Big Take story: “Ebola Exposes How Aid Cuts Hollowed Out Global Disease Defenses.” The world's outbreak defenses were rebuilt after the 2014 Ebola epidemic. Now a new crisis in Congo is testing what remains after deep aid cuts and health program rollbacks.
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US job growth topped all forecasts in May and the unemployment rate held steady, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring.
Nonfarm payrolls increased 172,000 last month after upward revisions to the prior two months, according to Bureau of Labor Statistics data out Friday. That marked the strongest three-month advance in more than two years.
The unemployment rate was unchanged at 4.3%, and average hourly earnings rose 0.3%.
Bloomberg's Tom Keene and Paul Sweeney break down the numbers with:
Claudia Sahm, Chief Economist at New Century Advisors
Kevin Gordon, Head of Macro Research and Strategy for the Schwab Center for Financial Research at Charles Schwab
Kristina Campmany, Senior Portfolio Manager at Invesco
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses Broadcom’s outlook. Broadcom Inc. shares plunged after the company’s forecast for sales of its artificial intelligence chips disappointed investors. AI semiconductor revenue will be $16 billion in the fiscal third quarter, falling well below analysts’ expectations of $17.2 billion on average.

-Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses SpaceX’s IPO. SpaceX is planning to offer shares at $135 apiece to raise $75 billion in its initial public offering. The IPO is expected to start formal marketing on June 4 and price as early as June 11, with the company making its debut on Nasdaq and Nasdaq Texas under the symbol SPCX.

-Gene Munster, Managing Partner at Deepwater Asset Management, also joins to discuss SpaceX’s IPO.
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