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

GUEST:
Eugene Chung, CEO and Founder of VR film company, Penrose Studios, on the upcoming debut of Google's Daydream virtual reality service.

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

GUEST:
Eugene Chung, CEO and Founder of VR film company, Penrose Studios, on the upcoming debut of Google's Daydream virtual reality service.

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

Penrose’s Chung on Google’s Daydream VR Platform Debut (Audio)

Penrose's Chung on Google's Daydream VR Platform Debut (Audio)

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/5d8c51e8-221e-41d8-9f3e-ae3c008ebbed/transcript

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

Bloomberg Intelligence hosted by Paul Sweeney and Judy Lagrou

*Guest reaction to Fed Chair Kevin Warsh’s speech from Jackson Hole*
Guests: Tom Orlik, Chief Economist for Bloomberg Economics & Tom Keene, Bloomberg Surveillance Co-Anchor
-Federal Reserve Chairman Kevin Warsh warned inflation isn’t meaningfully slowing and said policymakers must be confident that it is, otherwise the central bank has “work to do.”
Warsh reiterated that policymakers will return inflation to their 2% goal, which he said is a firm and fixed target, and that financial conditions are not currently restrictive.
Warsh said interest rates are the Fed’s “predominant tool” for achieving its mandate, but stopped short of signaling he would support an interest-rate hike when Fed officials gather in September.

Also on this podcast:
Nic Querolo, Bloomberg Municipal Finance Reporter, discusses the latest on the munis bond market.
Investors in the high-yield municipal bond market are being picky and have shied away from some recent offerings, such as one from QCF/I, Inc.
Higher absolute yields and tighter spreads between investment grade and riskier debt have given bond buyers fewer reasons to consider deals further down the credit spectrum.
High-yield defaults have been in line with historical levels this year, with 33 first-time defaults totaling $2.81 billion, according to Municipal Market Analytics.

 

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 Judy Lagrou *Guest reaction to Fed Chair Kevin Warsh&rsquo;s speech from Jackson Hole* Guests: Tom Orlik, Chief Economist for Bloomberg Economics &amp; Tom Keene, Bloomberg Surveillance Co-Anchor -Federal Reserve Chairman Kevin Warsh warned inflation isn&rsquo;t meaningfully slowing and said policymakers must be confident that it is, otherwise the central bank has &ldquo;work to do.&rdquo; Warsh reiterated that policymakers will return inflation to their 2% goal, which he said is a firm and fixed target, and that financial conditions are not currently restrictive. Warsh said interest rates are the Fed&rsquo;s &ldquo;predominant tool&rdquo; for achieving its mandate, but stopped short of signaling he would support an interest-rate hike when Fed officials gather in September. Also on this podcast: Nic Querolo, Bloomberg Municipal Finance Reporter, discusses the latest on the munis bond market. Investors in the high-yield municipal bond market are being picky and have shied away from some recent offerings, such as one from QCF/I, Inc. Higher absolute yields and tighter spreads between investment grade and riskier debt have given bond buyers fewer reasons to consider deals further down the credit spectrum. High-yield defaults have been in line with historical levels this year, with 33 first-time defaults totaling $2.81 billion, according to Municipal Market Analytics.
&nbsp;

Warsh Says Inflation Isn’t Slowing, Vows to Reach 2% Target 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d2d4a5e3-0311-4125-89f0-b4b40112bcaa/transcript

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

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, recaps Salesforce earnings. Salesforce Inc. jumped after the software company gave an outlook for strong revenue expansion and deepened its partnership with Anthropic PBC. Sales will be about $11.5 billion in the fiscal third quarter, and current remaining performance obligations will increase about 14%.

-Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, recaps Nvidia earnings. Nvidia Corp. said revenue will grow about 70% next fiscal year, outstripping analysts’ estimates for a 45% jump. The company's Chief Financial Officer Colette Kress said Nvidia would grow faster if it had access to more supplies, and that customers' forecasts point to the company's growth doubling next year.

-Matthew Schettenhelm, Bloomberg Intelligence Media Litigation Analyst, discusses the latest on Meta. Meta Platforms Inc.'s changes to Instagram and Facebook will apply only to US users for now, and include limits to how long younger users can spend on the apps and restrictions on switching off safety settings.  The changes are part of a series of landmark settlements to resolve claims that the social media networks are a safety risk to children, and will cost the company as much as $18 billion.

-Redd Brown, Bloomberg Consumer Reporter, discusses earnings from Dollar Tree and Dollar General. Dollar Tree Inc. mostly met Wall Street expectations last quarter and left its sales growth outlook for the year unchanged. Dollar General Corp. lifted its view for annual revenue after a quarterly sales beat, with comparable sales growth of 3.5% in the second quarter.

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 Scarlet Fu -Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, recaps Salesforce earnings. Salesforce Inc. jumped after the software company gave an outlook for strong revenue expansion and deepened its partnership with Anthropic PBC. Sales will be about $11.5 billion in the fiscal third quarter, and current remaining performance obligations will increase about 14%. -Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, recaps Nvidia earnings. Nvidia Corp. said revenue will grow about 70% next fiscal year, outstripping analysts&rsquo; estimates for a 45% jump. The company's Chief Financial Officer Colette Kress said Nvidia would grow faster if it had access to more supplies, and that customers' forecasts point to the company's growth doubling next year. -Matthew Schettenhelm, Bloomberg Intelligence Media Litigation Analyst, discusses the latest on Meta. Meta Platforms Inc.'s changes to Instagram and Facebook will apply only to US users for now, and include limits to how long younger users can spend on the apps and restrictions on switching off safety settings.&nbsp; The changes are part of a series of landmark settlements to resolve claims that the social media networks are a safety risk to children, and will cost the company as much as $18 billion. -Redd Brown, Bloomberg Consumer Reporter, discusses earnings from Dollar Tree and Dollar General. Dollar Tree Inc. mostly met Wall Street expectations last quarter and left its sales growth outlook for the year unchanged. Dollar General Corp. lifted its view for annual revenue after a quarterly sales beat, with comparable sales growth of 3.5% in the second quarter.

Salesforce Jumps Most Since 2020 on Outlook, Anthropic Deal 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/27561f94-f860-457c-94a2-b4b3010f2e37/transcript

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

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu 

-Matthew Schettenhelm, Bloomberg Intelligence Media Litigation Analyst, discusses breaking news on Meta. Meta Platforms Inc. agreed to pay up to $18 billion in landmark settlements to resolve allegations that the company deliberately designed Facebook and Instagram to encourage compulsive use among young users. The agreement requires Meta to put new guardrails on its platforms, including restricting how much time youths can scroll and preventing them from switching off certain safety settings without parental consent. The settlement includes payments to resolve a variety of claims across multiple lawsuits, with some payments contingent upon other social media companies adopting similar platform changes and making their own payouts.

-Mary Ross Gilbert, Bloomberg Intelligence, Senior Equity Analyst, Covering Retail, discusses earnings from Kohl’s and Abercrombie & Fitch. Kohl’s turnaround attempt showed some progress after the retailer raised its annual earnings outlook, but it still doesn’t see sales growth this year. Abercrombie & Fitch namesake brand is expected to post net sales growth of 4.7% in the second quarter, a reversal from a 5.3% decline in the same period a year earlier.

-Lindsay Dutch, Bloomberg Intelligence Consumer Hardlines Senior Analyst, discusses earnings from Bath & Body Works and Williams-Sonoma. Bath & Body Works shares fell after the company forecast year-over-year net sales declines for the third quarter. Williams-Sonoma shares drop as much as 5.7%, the most intraday since February 23, even after the home furnishing retailer reported a beat-and-raise quarter. 

-- Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses earnings from J M Smucker. JM Smucker Co. raised its full-year outlook for sales and profit, bolstered by growth in its Uncrustables sandwiches and coffee brands. Smucker is riding the growth of its hit products to offset broader weakness in the packaged-food segment as consumers become increasingly selective in their spending.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Matthew Schettenhelm, Bloomberg Intelligence Media Litigation Analyst, discusses breaking news on Meta. Meta Platforms Inc. agreed to pay up to $18 billion in landmark settlements to resolve allegations that the company deliberately designed Facebook and Instagram to encourage compulsive use among young users. The agreement requires Meta to put new guardrails on its platforms, including restricting how much time youths can scroll and preventing them from switching off certain safety settings without parental consent. The settlement includes payments to resolve a variety of claims across multiple lawsuits, with some payments contingent upon other social media companies adopting similar platform changes and making their own payouts. -Mary Ross Gilbert, Bloomberg Intelligence, Senior Equity Analyst, Covering Retail, discusses earnings from Kohl&rsquo;s and Abercrombie &amp; Fitch. Kohl&rsquo;s turnaround attempt showed some progress after the retailer raised its annual earnings outlook, but it still doesn&rsquo;t see sales growth this year. Abercrombie &amp; Fitch namesake brand is expected to post net sales growth of 4.7% in the second quarter, a reversal from a 5.3% decline in the same period a year earlier. -Lindsay Dutch, Bloomberg Intelligence Consumer Hardlines Senior Analyst, discusses earnings from Bath &amp; Body Works and Williams-Sonoma. Bath &amp; Body Works&nbsp;shares fell after the company forecast year-over-year net sales declines for the third quarter. Williams-Sonoma&nbsp;shares drop as much as 5.7%, the most intraday since February 23, even after the home furnishing retailer reported a beat-and-raise quarter.&nbsp; -- Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses earnings from J M Smucker. JM Smucker Co. raised its full-year outlook for sales and profit, bolstered by growth in its Uncrustables sandwiches and coffee brands. Smucker is riding the growth of its hit products to offset broader weakness in the packaged-food segment as consumers become increasingly selective in their spending.

Meta Says It Will Pay Up to $18 Billion Over Social Media Claims 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/458de1af-6c7d-4c74-bc01-b4b20110d0be/transcript

Penrose's Chung on Google's Daydream VR Platform Debut (Audio)

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