Nike, FedEx Latest to Pull Back Forecasts on Trump's Tariffs

Watch Alix and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Alix SteelToday’s Podcast Features are:Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, recaps Nike earnings.Nike Inc.’s turnaround effort is hitting snags as the company tries to clear out old inventory while feeling the effects of a growing trade war.Shares fell in trading Friday as the sportswear maker signaled further declines in revenue and profitability from an ongoing merchandise reset that the company says is necessary to renew growth. Nike also expects gross margin to decline sharply in the current quarter from a year earlier.Lee Klaskow, Bloomberg Intelligence Senior Transport, Logistics and Shipping Analyst, recaps FedEx earnings.FedEx Corp. shares tumbled after the parcel delivery company lowered its full-year guidance for a third consecutive quarter, citing inflation and uncertain demand for shipments. Adjusted earnings are now expected to be in the range of $18 to $18.60 per share this fiscal year, below the $18.95 average analyst estimate. FedEx also cautioned that revenue may be slightly down versus the prior year, compared to its previous expectation that sales would be roughly flat. Hessam Nadji, CEO of Marcus & Millichap, joins to discuss the latest in commercial real estate.He discusses why commercial real estate is well positioned for economic uncertainty. Commercial Real Estate remains an enticing alternative in periods of elevated economic and financial market uncertainty. The durability of commercial real estate in times of elevated inflation may become an increasingly favorable investment option.See omnystudio.com/listener for privacy information.