Bloomberg Businessweek

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At a time when every dip in stocks is perceived as an opportunity, buyers emerged after a brief pullback led by some of the biggest winners of the artificial-intelligence boom. Bitcoin rallied. Bonds fell.
Equities rebounded, with the S&P 500 up almost 1% following a slide that underscored worries over how stretched the market has become and how sensitive it is to unfavorable news. Chipmakers, which bore the brunt of the recent selling, led gains on Wednesday.
Bonds slid as data showed US services activity expanded at the fastest pace in eight months. Federal Reserve Governor Stephen Miran said a report underscoring a rise in employment at companies was “a welcome surprise,” but reiterated rates need to be lower.

Today's show features:

• Rick Wurster, President & CEO of Charles Schwab on Advisor Services as a critical driver of Schwab’s business growth
• Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, on the market outlook for the remainder of 2025
• Omar Aguilar, CEO & CIO of Schwab Asset Management on whether a resilient US economy is poised for a downturn
• Kathy Jones, Chief Fixed Income Strategist. Charles Schwab, on US interest rate outlook and the Federal Reserve

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NANO Nuclear Energy is a leading advanced nuclear energy and micro modular reactor technology company focused on developing clean energy solutions. Last month, the firm announced that it would be investing more than $12 million to establish a manufacturing and research and development facility in Illinois, with support from a state incentive program. It is expected to support nuclear engineers, component manufacturers, researchers, and support personnel who will work in collaboration with the University of Illinois Urbana-Champaign on NANO Nuclear's lead project, the KRONOS micro modular reactor (MMR) Energy System.

James Walker, the firm's CEO and director, discusses the pursuit of bringing the first functioning small modular reactor into operation. James speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. He is joined by Will Wade, Bloomberg News Energy Reporter.

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Risky assets slid, with tech stocks and cryptocurrencies bearing the brunt of the selling, after long-simmering concerns about lofty valuations were fanned anew by a chorus of Wall Street executives who warned investors to brace for a pullback.

With the rally confined to fewer and fewer shares as sentiment and technical indicators show signs of overheating, the chiefs of giants from Capital Group to Goldman Sachs Group Inc. and Morgan Stanley noted the possibility of a pullback as a healthy development.

Nobody needs to look hard to find warnings that stocks look frothy after a record-breaking surge from April’s nadir pushed valuations to levels associated with exuberance. Optimism has grown heated in recent months, with many traders seeming too busy chasing the upside to worry about an expensive market.

The S&P 500 recently notched one of its best six-month stretches since the 1950s fueled by the resilience of Corporate America, the booming outlook for artificial intelligence and hopes the Federal Reserve will keep cutting rates to prop up the economy. Yet those solid gains combined with the recent narrowness of the advance spurred vulnerability worries.

Today's show features:

• Bloomberg Intelligence Global Equity Strategist Gillian Wolff on Tuesday’s tech-lead stock selloff
• Kathy Wylde, President and CEO of the Partnership for New York City, on the 2025 NYC Mayoral Election
• Mark Dixon, Founder & CEO of International Workplace Group, on earnings and the commercial real estate market
• Bloomberg News Cross-Asset Reporter Isabelle Lee on new market entrants reshaping the $13 trillion ETF industry

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Antheia is the next-generation pharmaceutical ingredient producer with a mission to end drug shortages. Using advanced biosynthesis and fermentation technology, Antheia’s biomanufacturing platform enables rapid, efficient, agile, and on-demand production of key starting materials (KSMs) and active pharmaceutical ingredients (APIs) that are critical to public health. The firm believes its flexible approach supports the needs of a growing society and improves global access to essential medicines.

Founded in 2015, Antheia has grown into a commercial-stage company with its first product to market, an active customer pipeline, and near-term product launches. Dr. Christina Smolke, the company's co-founder and CEO, details her company's value proposition with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Palantir Technologies Inc. raised its annual revenue outlook to $4.4 billion and outpaced analyst estimates for third-quarter sales, citing “accelerating and otherworldly” growth for its artificial intelligence and data analytics products.

Revenue increased 63% to $1.18 billion in the period ended in September, the company said Monday in a statement. Analysts, on average, estimated $1.09 billion. In the current quarter, sales will be about $1.33 billion, compared with an average projection of $1.19 billion.

Palantir has reported revenue above analyst estimates for 21 consecutive quarters, according to data compiled by Bloomberg.
“We are in a nosebleed zone,” Palantir Chief Executive Officer Alex Karp said in an interview Monday. “No one else is here.”
Profit, excluding some items, was 21 cents a share, compared with analysts’ average estimate of 17 cents.

Palantir has been one of the biggest public beneficiaries of the artificial intelligence boom. The company sells its AI software to both governments and companies, and has become a key provider to the US and its allies.

Founded in 2003 with backing from Peter Thiel and the venture arm of the CIA, Palantir’s software organizes information from disparate data sources and prompts customers to make better decisions, using AI tools to make those calls more quickly. In corporate settings, this can mean finding ways to save money. On the battlefield this can mean shortening the time from identifying a threat to neutralizing it.

Today's show features:

• Bloomberg Businessweek Senior Reporter Max Chafkin with reaction to quarterly earnings from Palantir
• Megan Horneman, Chief Investment Officer at Verdence Capital Advisors, on whether investors are facing a bubble amid continued bets on big tech and artificial intelligence
• Bloomberg News Consumer Reporter Redd Brown with US IPO and Deals Reporter Ryan Gould on Kimberly-Clark agreeing to buy Tylenol-maker Kenvue for $40 billion 
• Adam Goldstein, Founder and CEO of Archer Aviation on next-generation transportation and the economic opportunities afforded by eVTOLs

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Fanny Elahi, MD, PhD is a physician-scientist and Associate Professor in the Departments of Neurology, Neuroscience, and Pathology at the Icahn School of Medicine at Mount Sinai in New York City. She serves as Director of Fluid Biomarker Research at the Barbara and Maurice Deane Center for Wellness and Cognitive Health and is one of the leaders at the Alzheimer’s Disease Research Center, where she co-directs the Genetics and Genomics Core and oversees the development of novel blood biomarkers for neurodegenerative diseases.
Dr. Elahi discusses her critical work and the potential for using blood biomarkers as indicators for the eventual onset of brain disease, particularly in women. She speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim Stenovec

Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.

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Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW

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President Donald Trump denied that he is considering strikes on Venezuela, contradicting a media report that he’d given approval for such a move as well as his own past statements that he was preparing land attacks after a series of boat strikes.
Trump replied “no” when asked by reporters Friday aboard Air Force One if it was true he is weighing whether to attack military sites in Venezuela. He said “no” again when asked if he had decided on the matter.
The comments appeared to contradict a report in the Miami Herald earlier Friday that the Trump administration has opted to attack military installations inside Venezuela, and the strikes could come at any moment. The Wall Street Journal had also reported on Thursday that the administration had identified potential targets but hadn’t made a decision on whether to carry them out.Asked earlier about the reports, White House spokeswoman Anna Kelly said “unnamed sources don’t know what they’re talking about” and any announcement would come from Trump.
Asked earlier about the reports, White House spokeswoman Anna Kelly said “unnamed sources don’t know what they’re talking about” and any announcement would come from Trump.
The reports, and Trump’s comments, further clouded the picture around the US president’s intentions for Venezuela and his push to fight narco-traffickers in the Caribbean. Last week, Trump said “the land is going to be next” after a series of attacks since mid-September on alleged drug-running boats in the Caribbean Sea and the eastern Pacific. The US government has provided little documentation to support its accusations the vessels were carrying drugs, other than descriptions and video clips showing footage of the bombardments.
Today's show features:

• Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council, on what the US-Venezuela conflict means for energy markets and earnings from Exxon and Chevron
• Laura Martin, Senior Entertainment & Internet Analyst, Needham & Co., recaps mega-cap tech earnings from Apple, Meta, Alphabet and Amazon
• Tom Forte, Managing Director and Senior Consumer Internet Analyst at the Maxim Group, on Amazon’s strong earnings and why he’s raising his price target for the stock
• Dan Sheridan, CEO of Brooks Running, on the company's ninth consecutive quarter of year-over-year growth and global demand for performance running footwear

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New York Road Runners is a nonprofit that aims to build healthier lives and stronger communities through the power of running. The organization has served communities across New York City for nearly 70 years through inclusive and accessible running experiences. It serves runners of all ages, abilities, and backgrounds year-round with 60 adult and youth races, and programs and events, including the TCS New York City Marathon.

Rob Simmelkjaer, the NYRR CEO, discusses the rich history of the upcoming race and the enormous economic impact it has on the Big Apple. Rob speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Apple Inc.’s fourth-quarter revenue edged past analysts’ estimates despite a surprise sales decline in China, where it’s been struggling to stage a comeback.

Total sales rose 7.9% to $102.5 billion in the period, which ended Sept. 27, the company said in a statement Thursday. That slightly beat the $102.2 billion average estimate. The company benefited from stronger-than-expected services growth, helping offset the China slowdown. The Mac and wearables division also performed better than anticipated.

Revenue from greater China fell 3.6% to $14.5 billion, well short of the $16.4 billion that analysts projected. The results renewed concerns that Apple is losing ground in a former growth market.

The company faces mounting competition from local smartphone providers in China and has struggled to offer artificial intelligence features in the country.

Meanwhile Amazon.com Inc.’s cloud unit posted the strongest growth rate in almost three years, reassuring investors who were concerned that the largest seller of rented computing power was losing ground to rivals.

Amazon Web Services posted revenue of $33 billion, an increase of 20% from the prior year and the biggest year-over-year rise since the end of 2022. Analysts, on average, estimated 18% growth.

Investor expectations for the cloud business were relatively low heading into Thursday’s report after the company in recent quarters cited constraints in getting new data centers online. Chief Executive Officer Andy Jassy and other executives had said they were optimistic about the business, though they stopped short of forecasting a reacceleration of growth.

Today's show features:

• Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure Poonam Goyal, Bloomberg Tech Co-Host Ed Ludlow and Eric Clark, Chief Investment Officer at Accuvest Global Advisors, examine quarterly earnings from Amazon
• Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners, Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman, and Bloomberg Tech Co-Host Ed Ludlow react to Apple earnings

• Bloomberg News Health Reporter Jessica Nix on the fight between Novo Nordisk and Pfizer over the acquisition of Metsera
• Caroline Freund, Dean of the UC San Diego School of Global Policy and Strategy, on the latest meeting between US President Donald Trump and China’s Xi Jinping

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