From inside Lockheed Martin’s storied Skunk Works, Aeronautics President OJ Sanchez discusses the company’s push to move faster on the next generation of air power. He explains why Lockheed is investing ahead of formal Pentagon requirements in its autonomous Vectis aircraft, and how a single F-35 could eventually control as many as eight Vectis drones. He joins Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)
Alphabet Inc.’s Google raised the price of its seven-month-old Pixel 10a smartphone by $100 to $599, another example of how rising memory costs are making even older devices more expensive.
German defense startups Helsing and Stark Defence are on track with the development of attack drones, including plans to start training Germany’s army on the equipment in November, according to the government.
Nike Inc. is cutting jobs and embarking on a sweeping overhaul of the business as results deteriorate and test Wall Street’s patience with Chief Executive Officer Elliott Hill.
Bloomberg Intelligence, Senior US E-Commerce and Retail Analyst, Poonam Goyal discusses Nike's job cut decision and why sales have continued to slump. (Source: Bloomberg)
On this episode of Stock Movers:
- Nike (NKE) shares continue their slide as it is cutting jobs and overhauling its business as results deteriorate, with a restructuring plan to save $2.5 billion over the next five years. The company expects a high-single-digit revenue decline this year, which is worse than the 2.4% drop projected by analysts, and shares of Nike fell as much as 9.7% in New York on Friday.
- Broadcom (AVGO) shares are moving on news the company's Wall Street syndicate are starting to gather $60 billion of fresh AI chip financing to benefit Anthropic and other companies.
- Fair Isaac Corp. (FICO) shares are rising after the company launched the FICO Mortgage Direct License Program, and Bill Pulte signaled he wasn't purposefully targeting the company, which may have contributed to the stock's rise on Thursday. (Source: Bloomberg)
Elon Musk's Tesla delivered 486,532 vehicles in the third quarter topping the estimate of 463,761. Sales are still down from a year ago. Bloomberg's Craig Trudell reports. (Source: Bloomberg)
Amazon is equipping its delivery drivers with smart glasses that capture images of their surroundings. Bloomberg Opinion columnist Dave Lee explains how this raises questions about privacy, data use and the future of delivery work. (Source: Bloomberg)
Chipmaker Onsemi revised the purchase terms of its acquisition of Synaptics, agreeing to pay about $5.7 billion in cash rather than roughly $7 billion in shares. Carmen Reinicke reports on "Bloomberg Open Interest." (Source: Bloomberg)
Nvidia Corp. shares touched an intraday high for the first time since May before trimming those gains and closing just short of a record as investors piled back into the stock after a two-month selloff that wiped out more than $1 trillion of market value.
Broadcom’s Wall Street syndicate is starting to gather $60 billion of fresh AI chip financing to benefit Anthropic PBC and other companies, according to people with knowledge of the matter. Carmen Reinicke has more on "Bloomberg Open Interest." (Source: Bloomberg)
Chey Tae-won, the billionaire behind memory chipmaker SK Hynix Inc., is selling 944 billion won ($700 million) worth of shares in the conglomerate SK Inc., amid what is set to be among South Korea’s most expensive divorces.
A recent rally in shares of Roblox Corp. has gone too far and signals investors are overly optimistic about a potential recovery in bookings growth, according to the stock’s newest bear.
Lockheed Martin Corp. Chief Executive Officer Jim Taiclet wants all of the world's largest defense contractor to move nimbly and innovate like the company's secretive Skunk Works unit. He speaks with Bloomberg Television's Ed Ludlow. (Source: Bloomberg)
Outside Washington DC in mid-September, Lockheed Martin Corp. lifted the tarp on a futuristic stealth drone: all sleek edges, mysterious vents and not a single pane of glass.
Amazon.com Inc.’s latest attempt to address the intensifying blowback to an unprecedented buildout of computing infrastructure: a commitment to spend more than $1 billion over the next five years on initiatives for the communities near its server farms.
New York’s artificial-intelligence boom is drawing massive investments and fueling a surge in office leasing, but it’s doing little for young workers trying to start their careers, according to a report by the Partnership for New York City.
Nidec Corp. is in talks with MUFG Bank Ltd. and Sumitomo Mitsui Banking Corp. to renew committed credit lines that currently total ¥600 billion ($3.8 billion), the company said on Thursday.
