Bloomberg Intelligence

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Bloomberg Intelligence hosted by Paul Sweeney and Stacey Vanek Smith

-Ed Ludlow, BTech Anchor, discusses top tech stories. Samsung Electronics Co.’s quarterly profit surged, prompting investors to cash out of a near-150% rally this year that had baked in the AI-fueled growth.
Separately, Amazon.com Inc. is looking to raise at least $25 billion from a US dollar bond sale to fund spending on artificial intelligence infrastructure.

-Ryan Vlastelica, Bloomberg Equities Reporter, discusses why the Mag 7 tech giants are no longer dominating the stock market, with their index gaining just 1.7% in 2026. Investors are now focused on the biggest beneficiaries of the wave of cash dedicated to building out AI, such as memory chipmakers like Micron Technology Inc. and Sandisk Corp.

-- Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor, discusses his column: “Sam Altman Offers a Trojan Horse to America.” Sam Altman offered the US government a 5% stake in OpenAI, which he said would allow Americans to share in the benefits of artificial intelligence. The offer is seen as a way for OpenAI to "capture" the government and gain an advantage through regulatory capture, where the government becomes an owner of the company and has an economic stake in its success.
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- Brody Ford, Bloomberg Technology Reporter, discusses Microsoft Corp.'s Xbox plans to eliminate 3,200 jobs, or around 20% of its staff over the next year, as part of a massive reorganization to spur growth in the struggling gaming division. Xbox will divest four of its video-game development studios and is beginning the process to part ways with a fifth, with the goal of streamlining the business and reinvesting in bigger projects.

- Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses SK Hynix kicking off the formal marketing process for its US listing, seeking to sell American depositary receipts representing about 17.79 million common shares. The company is looking to capitalize on surging investor demand for the high-flying memory-chip sector, with the offering of ADRs coming after the firm’s Seoul-traded stock rallied about 260% this year.

- Tim Craighead, Bloomberg Intelligence Global Chief Content Officer, discusses 10 companies to watch in Q3. Bloomberg Intelligence analysts have identified interesting companies from their roster of high-confidence Focus Ideas. Spanning sectors and regions, each scenario outlines a catalyst in the next few months that supports our case.

- Sam Fazeli, Bloomberg Intelligence Director of Research: Healthcare, Defence, Industrials & Autos, discusses Novartis AG agreeing to buy Myricx Bio for as much as $1.5 billion, adding an experimental cancer drug designed to deliver more potent treatments directly to tumors while limiting damage to healthy cells.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
George Ferguson, Senior Aerospace Analyst for Bloomberg Intelligence, discusses the revenue growth outlook for SpaceX. Investors have been largely flying blind since the company’s record-breaking IPO last month, with few financial projections to help determine what the stock is actually worth. That changes next week, when the quiet period ends for analysts at banks that underwrote the $86 billion initial public offering, which was led by Goldman Sachs Group Inc. Morgan Stanley, Bank of America Corp., Citigroup and JPMorgan Chase & Co., with 18 other banks participating. Starting Tuesday, investors should expect a pile of new research, price targets and growth estimates, all of which should help shed light on where the shares are likely headed in the near term and over the next few years.
Michael Shepard, Bloomberg News Senior Technology Editor, joins for a chat on the latest tech headlines, including the Financial Times reporting that OpenAI has proposed giving the US government a 5% stake in the company, and Apple seeking the Trump administration’s approval to purchase chips from two Chinese semiconductor makers on a Pentagon blacklist amid a global memory shortage.
Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist, reacts to the June US jobs report. Hiring slowed sharply in June even as the unemployment rate fell, curbing some of the budding momentum in job growth this year. Nonfarm payrolls increased 57,000 last month after downward revisions to the prior two months took some of the shine off recent blockbuster reports, Bureau of Labor Statistics data Thursday showed. The unemployment rate fell to 4.2% as labor force participation plunged, leading investors to scale back bets on Federal Reserve interest-rate increases.
Brendan Murray, Bloomberg News Global Trade Editor, shares his thoughts on Washington’s decision not to renew its trade deal with Canada and Mexico - choosing instead to conduct annual reviews of the pact in a decision that risks adding uncertainty for companies producing goods across North America. The US-Mexico-Canada Agreement, or USMCA, will remain in force for another decade provided no one country decides to exit. Opting against a longer-term renewal opens the door to years of contentious negotiations over the rules governing continent-wide supply chains and low tariff levels vital for automakers, farmers, retailers and energy companies.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, joins to recap earnings from Nike. Executives gave a cautious outlook and warned about elevated consumer anxiety, adding to investor concerns about the sportswear company’s painfully slow turnaround. Nike expects a slowdown in the coming quarter compared to the current period, citing the timing of wholesale shipments in North America among other factors. Chief Executive Officer Elliott Hill has led Nike for almost two years and progress toward recapturing growth has dragged on, sparking frustration. Management faces ever-growing pressure to produce results, with the company’s stock down 36% this year through Tuesday’s close, putting the shares on track for a fifth consecutive annual decline.
Ellen Wald, President at Transversal Consulting and Senior Fellow at the Atlantic Council, examines the long-term impact of the Iran War on energy markets. Commercial shipping through the Strait of Hormuz has surged over the past few weeks, with American military support helping boost oil flows to more than 10 million barrels per day, a US official said. The increase since President Donald Trump signed an interim peace agreement with Iran represents a big jump in traffic since the war paralyzed flows.
Andrew Grant, BloombergNEF Head of Intelligent Mobility, on BNEF’s Long-Term Electric Vehicle Outlook 2026. The annual flagship report includes analysis of EV adoption in passenger vehicles, commercial vans and trucks, two- and three-wheeled vehicles, and buses globally. It also looks at other drivetrains, including hybrids, natural gas and fuel cells, and explores the resulting impacts on demand for electricity, oil, batteries and materials, as well as CO2 emissions.
Nick Wadhams, Bloomberg News National Security Team Leader, weighs in on the US deciding against renewing its trade deal with Canada and Mexico. US Trade Representative Jamieson Greer said, choosing instead to conduct annual reviews of the pact in a move that risks adding uncertainty for companies producing goods across North America. The US-Mexico-Canada Agreement, or USMCA, will remain in force for another a decade provided no one country decides to exit. Annual reviews instead of a longer-term renewal open the door to years of contentious negotiations over the rules governing continent-wide supply chains and low tariff levels vital for automakers, farmers, retailers and energy companies.

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Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, weighs in on a record run for semiconductors. Chip stocks are heading for their best quarter ever, extending an extraordinary start to the year driven by insatiable demand for artificial intelligence equipment. But after recent jitters sent the stocks tumbling, investors are wondering how much further the rally can go. The Philadelphia Stock Exchange Semiconductor Index has soared 82% in the second quarter, putting it on track for its best quarter ever with one day to go. The gauge is up 94% in 2026, which if it holds would mark its best year since the dot-com boom in 1999. In contrast, the tech-heavy Nasdaq 100 Index has gained 26% in the second quarter, while the S&P 500 Index has risen 14%.
Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst for Bloomberg Intelligence, previews earnings from sportswear giant Nike. Investors will look for further signs of progress in the company’s comeback effort as Chief Executive Officer Elliott Hill cements a leadership reset. Traders will also seek details about one-time tariff refunds and demand tied to the FIFA World Cup, as well as clarity on a report saying Nike planned to halt online sales by partners in China.
Kenneth Shea, Senior Consumer Products Analyst for Bloomberg Intelligence, looks ahead to earnings from Constellation Brands. The company’s revenue is expected to retreat a fifth quarter in a row, weighed down by weaker wine and spirits sales. Operating margin is seen expanding though the benefits of an improved sales mix were likely offset by higher aluminum can costs.
Erin McLaughlin, Senior Economist at the Conference Board, discusses the latest economic data. US consumer confidence edged up in June, as falling gas prices offset concerns about the labor market. The Conference Board’s gauge of confidence increased 0.6 point to 91.2 after a downward revision to the prior month, data released Tuesday showed. The median estimate in a Bloomberg survey of economists was 94.4. An indicator of present conditions fell, while a measure of expectations for the next six months advanced. A metric of perceptions about the job market closely monitored by economists fell to the lowest in more than five years. The report shows that cheaper gas resulting from a truce in the Middle East helped assuage some of the anxiety Americans have expressed about the economy in recent months. However, views of job opportunities deteriorated and consumers expect little improvement in the coming months.
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