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

GUEST:
Sam Murtaugh, VP at Mecum Auctions, on their Harrisburg Auction of American muscle cars, and their upcoming Monterey Auction of modern supercars and exotics.

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

GUEST:
Sam Murtaugh, VP at Mecum Auctions, on their Harrisburg Auction of American muscle cars, and their upcoming Monterey Auction of modern supercars and exotics.

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>.

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Bloomberg Intelligence

Mecum’s Murtaugh on Harrisburg Auction of Muscle Cars (Audio)

Mecum's Murtaugh on Harrisburg Auction of Muscle Cars (Audio)

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/74778c13-ccf5-4557-a30b-ae3c0097b4d1/transcript

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

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Emily Cohn, Bloomberg Consumer Team Leader, recaps Macy’s earnings. Macy’s Inc. tumbled after the company’s third quarter guidance left investors unimpressed, overshadowing a strong quarterly performance and increase in outlook. The company’s bottom end of comparable sales and sales guidance is below analysts estimates but the top line is ahead. Macy’s adjusted diluted earnings per share guidance is also below estimates.

-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, recaps Apple’s iPhone launch. Apple Inc. unveiled the iPhone Duo, the company's first foldable smartphone, which will improve on rivals' foldable models. The iPhone Duo has a 7.6-inch screen, an outer 5.4-inch screen, and will be able to work with the iPad's Apple Pencil stylus, with a cost starting at $1,999. The device will be available for preorder on Oct. 16 in more than 70 countries and regions, ahead of its release on Oct. 23, and will sit at the top of Apple's iPhone lineup.

-Payam Zamani, Founder & CEO of One Planet Group, and Author of Crossing the Desert, discusses how purpose is changing capitalism. Payam Coined the term "spiritual capitalism" - the thesis that companies perform better long-term when built around purpose and dignity rather than treating people as economic assets.

-Tyler Reddick, 23XI Racing Driver, discusses the future of racing. Reddick is the first driver since Dale Earnhardt in 1987 – and fourth all-time – to win five of the first nine races of a season in NASCAR’s top division. He won the Goodyear 400 at Darlington Raceway after a day filled with obstacles, becoming the third in NASCAR Cup Series history to win four of the first six races of the season.

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 -Emily Cohn, Bloomberg Consumer Team Leader, recaps Macy&rsquo;s earnings. Macy&rsquo;s Inc.&nbsp;tumbled after the company&rsquo;s third quarter guidance left investors unimpressed, overshadowing a strong quarterly performance and increase in outlook.&nbsp;The company&rsquo;s bottom end of comparable sales and sales guidance is below analysts estimates but the top line is ahead. Macy&rsquo;s adjusted diluted earnings per share guidance is also below estimates. -Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, recaps Apple&rsquo;s iPhone launch. Apple Inc. unveiled the iPhone Duo, the company's first foldable smartphone, which will improve on rivals' foldable models. The iPhone Duo has a 7.6-inch screen, an outer 5.4-inch screen, and will be able to work with the iPad's Apple Pencil stylus, with a cost starting at $1,999. The device will be available for preorder on Oct. 16 in more than 70 countries and regions, ahead of its release on Oct. 23, and will sit at the top of Apple's iPhone lineup. -Payam Zamani, Founder &amp; CEO of <a href="https://www.oneplanetgroup.com" data-destination="https://www.oneplanetgroup.com">One Planet Group</a>, and Author of <a href="https://www.amazon.com/Crossing-Desert-Embracing-Difficult-Journeys/dp/1637744609" data-destination="https://www.amazon.com/Crossing-Desert-Embracing-Difficult-Journeys/dp/1637744609">Crossing the Desert</a>, discusses how purpose is changing capitalism. Payam Coined the term "spiritual capitalism" - the thesis that companies perform better long-term when built around purpose and dignity rather than treating people as economic assets. -Tyler Reddick, 23XI Racing Driver, discusses the future of racing. Reddick is the first driver since Dale Earnhardt in 1987 &ndash; and fourth all-time &ndash; to win five of the first nine races of a season in NASCAR&rsquo;s top division. He won the Goodyear 400 at Darlington Raceway after a day filled with obstacles, becoming the third in NASCAR Cup Series history to win four of the first six races of the season.

Macy’s Falls on Guidance Despite Sales Beat, Better Outlook

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/27e6a833-fff7-49b0-9498-b4c101184c13/transcript

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

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses Chewy earnings and Bloomberg Intelligence’s outlook for pets. Chewy Inc. executives expect consumer spending to remain pressured through the end of the year, with no "meaningful consumer recovery" expected. Chewy narrowed its full-year sales and profitability outlook, expecting net sales between $13.46 billion and $13.57 billion and an adjusted Ebitda margin of 6.7% to 6.8%.

-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses earnings from Jersey Mike’s. According to Bloomberg Intelligence: Jersey Mike's can exceed its 2H same-store sales guidance of 3-4% growth as greater marketing spending, increased digital advertising, more loyalty members and the return of Mike's Hot Italian Sub boost transactions. Management said that comparable sales are up more than 3% quarter to date. We expect greater ad spending in late 3Q and 4Q, and more placements inside NFL games to boost results.

-Randall Williams, Bloomberg Senior Reporter, discusses top business stories. The NFL season kicks off on Wednesday night, with a new international game scheduled for Thursday, and the league has ambitions to add more games and international matchups. LIV Golf filed for bankruptcy protection and Saudi Arabia’s Public Investment Fund has agreed to provide $49.6 million in debtor-in-possession financing.

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 -Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses Chewy earnings and Bloomberg Intelligence&rsquo;s outlook for pets. Chewy Inc. executives expect consumer spending to remain pressured through the end of the year, with no "meaningful consumer recovery" expected. Chewy narrowed its full-year sales and profitability outlook, expecting net sales between $13.46 billion and $13.57 billion and an adjusted Ebitda margin of 6.7% to 6.8%. -Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses earnings from Jersey Mike&rsquo;s. According to Bloomberg Intelligence: Jersey Mike's can exceed its 2H same-store sales guidance of 3-4% growth as greater marketing spending, increased digital advertising, more loyalty members and the return of Mike's Hot Italian Sub boost transactions. Management said that comparable sales are up more than 3% quarter to date. We expect greater ad spending in late 3Q and 4Q, and more placements inside NFL games to boost results. -Randall Williams, Bloomberg Senior Reporter, discusses top business stories. The NFL season kicks off on Wednesday night, with a new international game scheduled for Thursday, and the league has ambitions to add more games and international matchups. LIV Golf filed for bankruptcy protection and Saudi Arabia&rsquo;s Public Investment Fund has agreed to provide $49.6 million in debtor-in-possession financing.

Chewy Shares Slump as Executives Say Consumers Remain Pressured 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/63ae9644-ec9c-4137-b6dd-b4c001139038/transcript

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

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses GE Aerospace agreeing to buy castings manufacturer Consolidated Precision Products from Warburg Pincus and Berkshire Partners for $11.75 billion. The deal will significantly expand the jet-engine manufacturer’s capacity for critical components and is expected to close in the second half of 2027. GE Aerospace aims to boost capacity to help fulfill surging demand for new jet engines and spare parts needed by airlines and components for the defense industry.

- Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses top tech stories. Anthropic PBC has decided against acquiring artificial intelligence startup Decart AI, people familiar with the matter said. Separately, Qualcomm Inc. said it signed up Amazon.com Inc. as a data center chip customer in a deal that will span "multiple generations" and gives Amazon the right to acquire as much as $4 billion in shares.

-Derek Mogull, Bloomberg Intelligence Technology Analyst, discusses his research: “AI Storage Model Shows 5x Spending Growth by 2030.” According to Bloomberg Intelligence: AI is set to expand storage spending almost 5x by 2030, with data-center revenue rising about 8x and inference driving roughly 85% of incremental data-center NAND flash bit growth. This marks a structural break from storage's mature, cyclical past: AI lifts bit growth into the mid-20s, raises value per bit and reinforces the storage hierarchy, most directly benefiting Seagate, Western Digital, SanDisk, Kioxia and Everpure.

-Hema Parmer, Bloomberg Hedge Fund Reporter, discusses the Bloomberg Big Take story: “Milennium Nears $100 Billion in New Era for Giant Hedge Funds.” Millennium Management's assets have hit $97 billion, more than double what the firm oversaw six years ago, and is speeding toward $100 billion. The firm's founder, Izzy Englander, is ramping up an unusual model of seeding dozens of smaller would-be rivals to give his firm more capacity to take on investor cash, with $22 billion of new commitments set to close on Oct. 1.

 

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 - George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, &amp; Airlines Analyst, discusses GE Aerospace agreeing to buy castings manufacturer Consolidated Precision Products from Warburg Pincus and Berkshire Partners for $11.75 billion. The deal will significantly expand the jet-engine manufacturer&rsquo;s capacity for critical components and is expected to close in the second half of 2027. GE Aerospace aims to boost capacity to help fulfill surging demand for new jet engines and spare parts needed by airlines and components for the defense industry. - Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses top tech stories. Anthropic PBC has decided against acquiring artificial intelligence startup Decart AI, people familiar with the matter said. Separately, Qualcomm Inc. said it signed up Amazon.com Inc. as a data center chip customer in a deal that will span "multiple generations" and gives Amazon the right to acquire as much as $4 billion in shares. -Derek Mogull, Bloomberg Intelligence Technology Analyst, discusses his research: &ldquo;AI Storage Model Shows 5x Spending Growth by 2030.&rdquo; According to Bloomberg Intelligence: AI is set to expand storage spending almost 5x by 2030, with data-center revenue rising about 8x and inference driving roughly 85% of incremental data-center NAND flash bit growth. This marks a structural break from storage's mature, cyclical past: AI lifts bit growth into the mid-20s, raises value per bit and reinforces the storage hierarchy, most directly benefiting Seagate, Western Digital, SanDisk, Kioxia and Everpure. -Hema Parmer, Bloomberg Hedge Fund Reporter, discusses the Bloomberg Big Take story: &ldquo;Milennium Nears $100 Billion in New Era for Giant Hedge Funds.&rdquo; Millennium Management's assets have hit $97 billion, more than double what the firm oversaw six years ago, and is speeding toward $100 billion. The firm's founder, Izzy Englander, is ramping up an unusual model of seeding dozens of smaller would-be rivals to give his firm more capacity to take on investor cash, with $22 billion of new commitments set to close on Oct. 1.
&nbsp;

GE to Buy Consolidated Precision Products for $11.75 Billion

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2e2f9c91-8eea-4c72-a647-b4bf0113e0b0/transcript

Mecum's Murtaugh on Harrisburg Auction of Muscle Cars (Audio)

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