Bloomberg Intelligence

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Bloomberg Intelligence hosted by Scarlet Fu and Alexis Christoforous

-Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, recaps U.S bank earnings.
Goldman Sachs Group Inc.'s equities traders reported revenue of $6.44 billion for the three months through September, beating the expectations of analysts.
JPMorgan Chase & Co. reported a surprise drop in fixed-income trading revenue in the third quarter, the first such decline in more than two years.
Citigroup Inc.'s fixed-income traders had their best third quarter in at least a decade, with revenue of $4.4 billion.
Wells Fargo & Co. reported third-quarter results that topped Wall Street estimates as consumers and businesses held steady, keeping loan losses in check.

-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses earnings from Domino’s Pizza and his outlook for Jersey Mike’s. Domino’s Pizza Inc.’s US same-store sales grew 0.3% in the third quarter, below the 0.7% Wall Street had expected. The company faces an uphill battle as budget-conscious consumers eat out less and favor chicken amid the “proteinmaxxing” trend.
Also, according to Bloomberg Intelligence: Jersey Mike's combination of strong sales growth, 10.4% in 1H, and a 99% franchised system is unique to the restaurant sector, positioning the company to outperform most quick-service peers on the top line and most fast-casual competitors on the bottom line amid inflation.

-Deborah Aitken, Bloomberg Intelligence Luxury Goods Analyst, discusses LVMH earnings. Sales at LVMH's biggest division slumped as worsening economic conditions and a consumer backlash in China hit its key Louis Vuitton brand. Revenue at the fashion and leather goods unit slid 5% in the third quarter on an organic basis, a bigger decline than analysts had forecast. LVMH Chief Financial Officer Cecile Cabanis said the backlash from consumers over the Molly Tea case "had a negative impact, at least at the beginning of the quarter" on Louis Vuitton sales.

-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses the latest at Netflix. Netflix Inc. secured exclusive broadcasting rights in Spain and Andorra for the men’s FIFA World Cup in 2030. Terms of the deal that includes all 104 matches weren’t’ disclosed in the company’s press release.
Also, according to Bloomberg Intelligence: Netflix's 3Q results may do little to quiet the engagement debate even if revenue lands near guidance.
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Bloomberg Intelligence hosted by Scarlet Fu, Stacey Vanek Smith, and Norah Mulinda

-Redd Brown, Bloomberg Consumer Reporter, discusses Starbucks saying it’s not buying Chipotle Mexican Grill, tamping down speculation about what could have been one of the restaurant sector’s largest-ever deals.
Separately, Redd talks about how California vintners are experimenting with making an American version of tequila due to a drop in wine consumption and state-imposed water restrictions.

-Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses top tech stories. According to Bloomberg Intelligence: AI data-center spending is scaling faster than we expected, with higher hardware content and a broader mix of operators pushing more capital toward compute, memory, storage and networking.
Separately, Mandeep also discusses how Microsoft is installing the latest version of its Maia chips in data centers to power its AI software using mostly homegrown hardware.

-Niraj Patel, Bloomberg Intelligence Senior Software Analyst, discusses research on how AI is influencing software sectors. According to Bloomberg Intelligence: AI agents are evolving from prompt-based assistants into persistent systems that reason, use tools and execute workflows, putting application software's user interface and distribution at risk while expanding opportunities in agent infrastructure and coordination.
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Bloomberg Money takes the pulse of your financial life, powered by the reporting of our global newsroom. This week's show features Peter Orszag, Lazard CEO & Chairman, Anastasia Amoroso, Chief Investment Strategist, Partners Group and more.
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Bloomberg Intelligence hosted by Scarlet Fu and John Tucker

- Matthew Bloxham, Bloomberg Intelligence Senior Media and Tech Analyst, discusses top tech stories. OpenAI is expecting to reach or exceed $70 billion in annualized revenue by the end of the year, driven largely by growth in its enterprise business.
SpaceX is acquiring a crucial swath of spectrum from Grain Management LLC to turn the company into a "major mobile carrier" and provide cell service to devices indoors from its Starlink network.

- Sid Philip, Bloomberg Chief Correspondent for Global Aviation, discusses Delta Airlines earnings. Delta Air Lines Inc. reduced its full-year earnings outlook due to elevated jet fuel prices, expecting adjusted earnings of $5.10 to $5.60 per share in 2026. The airline expects to absorb approximately $6 billion in additional fuel costs this year compared with 2025, citing the war in the Middle East as a factor. Delta's Chief Executive Officer Ed Bastian said he expects flying demand to hold up despite higher ticket prices, noting that "the market has accepted these price points" and that travel is a priority for wealthier consumers.

- Tim Craighead, Bloomberg Intelligence Global Chief Content Officer, discusses ten companies to watch for in 4Q. From elevated crude-tanker rates and slowing pizza sales to movie screens, prediction-market rulings, soft drinks and coal, BI’s 10 Focus Ideas to Watch for 4Q highlight the catalysts that can most reshape market expectations. The research showcases BI analysts' highest-conviction, differentiated fundamental views vs. consensus, including Coca-Cola, Cosco Energy and Kalshi.

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Bloomberg Intelligence hosted by Scarlet Fu, Hema Parmar, and Charlie Pellett

-Sridhar Natarajan, Bloomberg News Chief Wall Street Correspondent, discusses how Goldman Sachs’ most senior leaders are set to unlock a special bonus that will rank among the biggest such payouts the firm has ever awarded. About 20 executives are in line for equity awards that will be finalized later this month and exceed $500 million at the current share price, with Chief Executive Officer David Solomon in line for more than $100 million.

-Ken Shea, Bloomberg Intelligence Senior Consumer Goods Analyst, recaps PepsiCo earnings. PepsiCo Inc. has concerns over its North American soda business and is working to turn around its snack sales. The company now sees a measure of earnings growing between 1% and 2% for the current fiscal year, down from the previous range of 4% to 6%.

-Lily Meier, Bloomberg Retail Reporter, recaps earnings from Levis Strauss. Levi Strauss & Co. posted the slowest growth in its direct-to-consumer channels since late 2022, in part due to a marketing misstep. Revenue generated from Levi’s own stores and website grew 2% in the third quarter, with the company raising its full-year earnings outlook. She also discussed Lululemon Athletica hiring Maggie Gauger as president and chief product officer, a newly created role, starting Oct. 26. Gauger previously worked as the CEO of Gap's Athleta brand and with Lululemon's new CEO Heidi O'Neill at Nike Inc.




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