(Bloomberg) -- Taking Stock with Kathleen Hays and Pimm Fox.

GUEST:
Cleveland Cavaliers and Quicken Loans Arena CEO Len Komoroski on the upcoming season, and the business landscape and economic growth in Cleveland.

(Bloomberg) -- Taking Stock with Kathleen Hays and Pimm Fox.

GUEST:
Cleveland Cavaliers and Quicken Loans Arena CEO Len Komoroski on the upcoming season, and the business landscape and economic growth in Cleveland.

Listen for investment news and in-depth company research. 

Hosts Paul Sweeney and Scarlet Fu harness the power of Bloomberg Intelligence to analyze investments on Wall Street. Watch Bloomberg Intelligence LIVE on YouTube, weekdays from 10AM to 12PM ET: http://bit.ly/3vTiACF.

Listen for investment news and in-depth company research. Hosts Paul Sweeney and Scarlet Fu harness the power of Bloomberg Intelligence to analyze investments on Wall Street. Watch Bloomberg Intelligence LIVE on YouTube, weekdays from 10AM to 12PM ET: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to analyze markets, companies and industries.

Bloomberg Intelligence

Cavaliers’ Komoroski on Economic Growth in Cleveland (Audio)

Cavaliers' Komoroski on Economic Growth in Cleveland (Audio)

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/51e11797-fb32-4011-aecd-ae3c008596ad/transcript

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Matthew Bloxham, Bloomberg Intelligence Senior Media and Tech Analyst, discusses technology stocks plummeting as traders assess the implication of a Democratic sweep in the US midterm elections on cloud data centers. Matthew also discusses Qualcomm earnings. Qualcomm Inc. shares tumbled after the company gave a lackluster profit forecast, citing a “broad-based increase” in costs for components and manufacturing.

-Justin Teresi, Bloomberg Intelligence Antitrust Litigation & Policy Analyst, discusses data centers. According to Bloomberg Intelligence: Hyperscalers like Microsoft, Meta, CoreWeave, Oracle and OpenAI who use data centers in Texas, or have plans to utilize them there, face increased policy risks tied to the facilities with Gina Hinojosa winning the Lone Star State's gubernatorial race.

-Nathan Dean, Senior Policy Analyst for Bloomberg Intelligence, discusses President Donald Trump’s corporate influence after the midterm elections. According to Bloomberg Intelligence: With Democrats winning control of Congress, policy risk for US companies may increase as incentives grow for President Donald Trump to rely on public pressure, executive power and federal leverage to advance White House goals. From taking a 10% government stake in Intel to pressing Bank of America and Citigroup on credit-card interest rates and urging Walmart to absorb tariff costs, Trump has consistently been willing to influence companies' conduct even when legislation is unlikely.

- Ryan Gallagher, Bloomberg Investigative Reporter, discusses the Bloomberg Big Take story: “Ads in Popular Apps Give Police a Powerful Tool to Spy on Users.” Penlink’s Webloc is sold to police in the US, UK and worldwide. It uses technology found in weather, gaming, email and religious apps to locate people using their cellphones. Webloc can track hundreds of millions of mobile phones across the world. For law enforcement, that’s a powerful capability — made more so by the fact that in the US it can be used without the need for any kind of search warrant or judicial authorization.

Watch Paul and Scarlet LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Matthew Bloxham, Bloomberg Intelligence Senior Media and Tech Analyst, discusses technology stocks plummeting as traders assess the implication of a Democratic sweep in the US midterm elections on cloud data centers. Matthew also discusses Qualcomm earnings. Qualcomm Inc. shares tumbled after the company gave a lackluster profit forecast, citing a &ldquo;broad-based increase&rdquo; in costs for components and manufacturing. -Justin Teresi, Bloomberg Intelligence Antitrust Litigation &amp; Policy Analyst, discusses data centers. According to Bloomberg Intelligence: Hyperscalers like Microsoft, Meta, CoreWeave, Oracle and OpenAI who use data centers in Texas, or have plans to utilize them there, face increased policy risks tied to the facilities with Gina Hinojosa winning the Lone Star State's gubernatorial race. -Nathan Dean, Senior Policy Analyst for Bloomberg Intelligence, discusses President Donald Trump&rsquo;s corporate influence after the midterm elections. According to Bloomberg Intelligence: With Democrats winning control of Congress, policy risk for US companies may increase as incentives grow for President Donald Trump to rely on public pressure, executive power and federal leverage to advance White House goals. From taking a 10% government stake in Intel to pressing Bank of America and Citigroup on credit-card interest rates and urging Walmart to absorb tariff costs, Trump has consistently been willing to influence companies' conduct even when legislation is unlikely. - Ryan Gallagher, Bloomberg Investigative Reporter, discusses the Bloomberg Big Take story: &ldquo;Ads in Popular Apps Give Police a Powerful Tool to Spy on Users.&rdquo; Penlink&rsquo;s Webloc is sold to police in the US, UK and worldwide. It uses technology found in weather, gaming, email and religious apps to locate people using their cellphones. Webloc can track hundreds of millions of mobile phones across the world. For law enforcement, that&rsquo;s a powerful capability &mdash; made more so by the fact that in the US it can be used without the need for any kind of search warrant or judicial authorization.

Tech Stocks Plunge as Traders Dump Everything With AI Exposure 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a35bc3d1-196e-4cbd-ba4f-b4f90125d02e/transcript

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-John Tozzi, Bloomberg Health care Reporter, discusses CVS Health planning to spin off its retail pharmacy business into a new company called CVS Pharmacy in the first half of 2028. The move will separate the drugstore business from the Aetna insurance unit and Caremark prescription benefits division, with both companies to be publicly traded. CVS shares plunged as much as 14% in New York on Wednesday after the announcement, which marks a shift away from the long-term trend of consolidation among major healthcare companies.

- Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses top tech stories. Mandeep discusses the impact of mid-term elections on the tech sector. Separately, he talks about earnings from Uber and AMD. Uber Technologies Inc. shares rose after the company posted quarterly earnings and gross bookings that met expectations. Total gross bookings for the third quarter were $59.8 billion, and adjusted earnings per share were 88 cents, which was about what Wall Street was expecting. Advanced Micro Devices Inc. gave a revenue forecast that exceeded analysts’ estimates, showing that demand for data center processors remains strong. The company’s fourth-quarter revenue will be $17 billion, plus or minus 3%, which easily topped the average analyst estimate of $16.3 billion.

Watch Paul and Scarlet LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -John Tozzi, Bloomberg Health care Reporter, discusses CVS Health planning to spin off its retail pharmacy business into a new company called CVS Pharmacy in the first half of 2028. The move will separate the drugstore business from the Aetna insurance unit and Caremark prescription benefits division, with both companies to be publicly traded. CVS shares plunged as much as 14% in New York on Wednesday after the announcement, which marks a shift away from the long-term trend of consolidation among major healthcare companies. - Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses top tech stories. Mandeep discusses the impact of mid-term elections on the tech sector. Separately, he talks about earnings from Uber and AMD. Uber Technologies Inc. shares rose after the company posted quarterly earnings and gross bookings that met expectations. Total gross bookings for the third quarter were $59.8 billion, and adjusted earnings per share were 88 cents, which was about what Wall Street was expecting. Advanced Micro Devices Inc. gave a revenue forecast that exceeded analysts&rsquo; estimates, showing that demand for data center processors remains strong. The company&rsquo;s fourth-quarter revenue will be $17 billion, plus or minus 3%, which easily topped the average analyst estimate of $16.3 billion.

CVS Plans to Break Up $117 Billion Healthcare Conglomerate

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/81989a7f-006e-4ca8-ac1d-b4f801247145/transcript

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and John Tucker

- Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Walt Disney’s layoff plans. Walt Disney Co. is moving toward thousands of job cuts with managers asked to target 20% in annual cost savings. The savings could come from job eliminations as well as from expense reductions, and some of Disney's operations will be affected disproportionately. Chief Executive Officer Josh D'Amaro aims to reinvest a portion of the savings into film and TV programming, technology and the theme parks and cruise ship businesses.

-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Apple earnings. Apple Inc. delivered a mixed outlook to investors in its first quarterly report under Chief Executive Officer John Ternus, with tightening profit margins overshadowing an upbeat sales forecast. The company predicted revenue growth of 7% to 10% during the holiday season, but warned that gross margins would be thinner than projected due to higher memory costs and expenses related to the new Siri AI digital assistant.

-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses Yum! Brands. Taco Bell is showing signs of recovery about three months after a cyclospora outbreak hurt results, with comparable sales rising 1% so far this quarter. Visits by "heavy" Taco Bell users have fully recovered to pre-outbreak levels, while lighter users are tracking to 95% of their prior frequency. Users of Taco Bell's loyalty program returned to the chain twice as fast as nonmembers, with membership growing 25% in the third quarter compared to the prior year.

Watch Paul and Scarlet LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Bloomberg Intelligence hosted by Paul Sweeney and John Tucker - Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Walt Disney&rsquo;s layoff plans. Walt Disney Co. is moving toward thousands of job cuts with managers asked to target 20% in annual cost savings. The savings could come from job eliminations as well as from expense reductions, and some of Disney's operations will be affected disproportionately. Chief Executive Officer Josh D'Amaro aims to reinvest a portion of the savings into film and TV programming, technology and the theme parks and cruise ship businesses. -Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Apple earnings. Apple Inc. delivered a mixed outlook to investors in its first quarterly report under Chief Executive Officer John Ternus, with tightening profit margins overshadowing an upbeat sales forecast. The company predicted revenue growth of 7% to 10% during the holiday season, but warned that gross margins would be thinner than projected due to higher memory costs and expenses related to the new Siri AI digital assistant.
-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses Yum! Brands. Taco Bell is showing signs of recovery about three months after a cyclospora outbreak hurt results, with comparable sales rising 1% so far this quarter. Visits by "heavy" Taco Bell users have fully recovered to pre-outbreak levels, while lighter users are tracking to 95% of their prior frequency. Users of Taco Bell's loyalty program returned to the chain twice as fast as nonmembers, with membership growing 25% in the third quarter compared to the prior year.

Disney Plans Thousands of Layoffs, Targeting 20% Cost Savings 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4185db85-a312-4a19-9ca6-b4f701260135/transcript

Cavaliers' Komoroski on Economic Growth in Cleveland (Audio)

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