Were pretty active in the investment committee. Amy raskin, i start with you. You sold nike. Yep. Seems to me from the notes here you had it. We trimmed half our position, we spoke about a couple months ago, but were done. The company is just not executing as well as it should. The brand is still great. We could come back to it at some point, but theyre not executing right now. China is a risk for them, and, so, were out of the position. The stock is down 14 year to date, down more than 20 over a year. They certainly have had what i think people would suggest is an innovation slowdown. Yep. The company sort of acknowledged that. They blamed remote work. Which was terrible. For that. Their competitors somehow figured it out. Hoka, on, new balance can you sort of go down the list lulu are rising competitors. Theyre all sort of part of the sell pie . All part of the sell pie. I really did not like the explanation we couldnt innovate over zoom. Everybody else sort of figured it out. They j
In brussels today. Manus talk strategy with the of adidas and xina xinas. Anna a warm welcome, this is bloomberg daybreak europe. From here in the city of london, im anna edwards. Manus the promise you a fees from germany in terms of how they are performing. Numbers coming through targeting 2018 for 70, excluding charges. Theyre proposing to raise their euros to the. 10 expectation which had been 380. Estimate of 2. 40 5 billion that we had penciled in a head of these numbers. That looks to be a little bit the industrial business profits. Missing estimates on power and gas slumping. Looking for any clues to how the power and gas division is doing. We heard about the wind power division, weve been reporting about how other jobs are going to go in germany or predominantly in germany around other parts of the business but siemens missing estimates on power and asked. We will speak about those matters and the ipo to help business to the ceo who will at 6 30 london time. Manus commerzbank a
Looking for a bit of a down open, perhaps. Crude oil, where is it . Where is it . I want to talk about the cushion and things i heard yesterday about the im there. Below 50 again on the allimportant wti. And the tenyear, after yesterday, of course fed minutes, we saw prices up yields down. And we are still lower certainly than we were yesterday at least because i remember we were at least 2. 1, if not almost 2. 2 on the day. Our road map starts with walmart, earnings beat on the bottom line. And this very important announcement, its going to raise the pay for roughly 500,000 employees. The markets, well volatile. Yes, they are. Premarket germany rejecting greeces debt plan. Oil is sliding. Earnings beats from tmobile marriott priceline. Those stocks moving higher. First, lets get to carl. Hes in arkansas. Hes got more on todays news from walmart. Carl . Yeah interesting, david. The quarter looked pretty good 1. 61 beats 1. 54 estimate. U. S. Comps up 1. 5, better than expected. Recall
The grip on the east continues to slide. We will tell how you can indulge in retail araby with the help of. And told in Retail Therapy with the help of a hashtag. Hello, welcome. It just come 6 00. Bloomberg reporters are standing. Y david tweed is in berlin with numbers from adidas today. Ubs reported profits that surpassed estimates. Profit rose 6. 7 from a year earlier. Our markets editor manus cranny is over there in zurich. Run us through the numbers. What is the number going to be focusing on . I think they are going to focus more on three keywords. Return on equity . Target. King to the we are on the way to the Promised Land. Reducing d assets moving the target on risk weighted assets in the businesses they dont want to be in down to 40 billion. Management brought in new money at 11 million swiss francs. Profits up 24 . The Investment Bank dropped by 56 , but it is those three issues in terms of return on equity, cost, risk weighted assets. Issues take you into discussing capita
Empire state building that you have never seen before, trust me. First, we are kicking it off with what everyone is talking about. Two big headlines in tech. We will start with the worlds biggest company. Apple reporting a huge quarter, its best ever. Second quarter revenue was more than 45 billion, up by one percent, profit up seven percent, and 43. 7 million iphones were sold in the quarter, a new record. The company boosted a Share Buyback program. I do not know where to begin. Investors and analysts have been griping about apples growing business. Carl icahn would not shut up about the Company Giving buyback to investors. Here it is delivering on both fronts. There was a lot in the report tonight. There is a lot on allocation side about dividends we were not expecting. The phone number was most impressive. That is the core of their business. They use that as the tip of the spear to get their whole ecosystem out. That number was substantially better than what the street was thinking