Bloomberg Businessweek

SparkCharge bills itself as the “World's Largest Electric Vehicle Fleet Charging Network.” The company's mission is to revolutionize the EV charging industry by making charging faster, more accessible, and more sustainable. Through innovative technology and mobile solutions, SparkCharge says it seeks to empower businesses to charge anywhere, anytime — eliminating barriers to EV adoption and driving the world toward a cleaner, more electrified future.

Founder and CEO Josh Aviv details the company's growth trajectory and examines the demand for electric vehicles among Americans under the Trump administration. Josh speaks with Carol Massar and Matt Miller on Bloomberg Businessweek Daily.

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A chorus of stock market prognosticators at some of Wall Street’s biggest firms is warning clients to prepare for a pullback as sky-high equity valuations slam into souring economic data. 
On Monday, Morgan Stanley, Deutsche Bank AG and Evercore ISI all cautioned that the S&P 500 Index is due for a near-term drop in the weeks and months ahead. The predictions come after a furious rally from April’s lows that propelled the gauge to levels it has never seen before.
Morgan Stanley strategist Mike Wilson sees a correction of up to 10% this quarter as tariffs hit consumers and corporate balance sheets. Evercore’s Julian Emanuel is expecting a more substantial decline of as much as 15%. And a team at Deutsche Bank led by Parag Thatte notes that a small drawdown in equities is overdue considering they’ve been on a tear for over three months.

Today's show features:

• Bill Smead, Founder, Chairman and CIO of Smead Capital Management, on concentration risk in markets
• Joyce Mullen, President and CEO of Insight Enterprises, on recent earnings and customers putting off new projects and saving for future investments in AI
• Aaron Jagdfeld, Chairman, President and CEO of Generac, on earnings, the state of manufacturing in America, and US trade policy impact
• Kate Gulliver, Chief Financial Officer of Wayfair, on quarterly earnings and the health of the American consumer

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Holland, Michigan-based CraftCo. Brands has a diverse portfolio of innovative distilled alcoholic beverages comprised of more than 30 spirits and liqueurs across the bourbon, gin, vodka, rye, and ready-to-drink categories. CraftCo. competes in an industry that is increasingly dominated by consolidation, the speed with which companies can get their products to the shelves, and ever-evolving trends.

Ali Anderson, the company's CEO, discusses the state of the alcohol industry, consumer habits and the potential impact of tariffs for her business. Ali speaks with Tim Stenovec and Carol Massar 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 said he was directing officials to fire Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, hours after a report showed US job growth cooled sharply over the last three months.

“I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,” Trump said on social media Friday, accusing her, without evidence, of politicizing the jobs report. “She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes.”

Friday’s jobs report from the BLS showed payrolls increased 73,000 in July after the prior two months were revised down by nearly 260,000. In the past three months, employment growth has averaged a paltry 35,000 — the worst since the pandemic.

BLS didn’t immediately respond to a request seeking comment. Former President Joe Biden nominated McEntarfer to head the statistical agency in 2023. She was confirmed in January of 2024, an election year, by a vote of 86-8, with then-Senator JD Vance voting “yea.”

Today's show features:

• Bloomberg News Economic Editor Molly Smith and Bloomberg News Senior Editor, Equities Americas Eric Weiner on the week in markets, and President Donald Trump's move to fire the head of the Bureau of Labor Statistics
• Bloomberg Intelligence Senior Defense Analyst Wayne Sanders on heightened tensions between the United States and Russia
• Laura Martin, Senior Analyst at Needham & Company on this week's earnings from Apple, Meta and Amazon
• Dr. Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council, on earnings from Exxon and Chevron, and the global energy trade

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Ambiq Micro Inc. shares rose 61% in their first trading day, after the maker of ultra-low power semiconductors for AI applications raised $96 million in an upsized initial public offering. Shares of the Austin-based company closed at $38.53 each on Wednesday in New York, above the IPO price of $24 apiece.

Scott Hanson, the company's founder and Chief Technology Officer, discusses the firm's strong start in public markets, how US tensions with China impact its strategy, and the array of consumer products that operate using Ambiq's chips. Scott speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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Amazon.com dropped in late trading after projecting weaker-than-expected operating income and trailing the sales growth of its cloud rivals, leaving investors searching for signs that the company’s huge investments in artificial intelligence are paying off. Operating profit will be $15.5 billion to $20.5 billion in the period ending in September, compared with an average estimate of $19.4 billion. Sales will be $174 billion to $179.5 billion, the company said Thursday in a statement. Analysts, on average, expected $173.2 billion. Chief Executive Officer Andy Jassy is engaged in an AI infrastructure arms race with Microsoft Corp. and Alphabet Inc. that requires heavy spending on data centers. Both of those rivals earlier reported strong earnings showing they are benefiting from the AI boom.

For instant reaction and analysis, hosts Carol Massar and Tim Stenovec speak with:

• Bloomberg Intelligence Senior Technology Analyst Anurag Rana
• Bloomberg Intelligence Senior Analyst for E-commerce & Athleisure Poonam Goyal

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Apple Inc. reported third-quarter revenue that handily topped analysts’ estimates, boosted by surprisingly strong sales of the iPhone and products in China.
Revenue rose 9.6% to $94 billion in the period, which ended June 28, the company said in a statement Thursday. Analysts estimated $89.3 billion on average, according to data compiled by Bloomberg. Apple had projected a $900 million headwind from tariffs during the period, saying that revenue would grow in the low- to mid-single digits.

Though US tariffs are still expected to weigh on results in the long run, they likely provided a boon to Apple in the latest period — with consumers rushing to stores to get out ahead of expected price increases. The company also has been staging a comeback in China, a market where local phone brands have made inroads with consumers. Services were another bright spot for Apple last quarter, topping Wall Street projections.

Meanwhile Amazon.com Inc. projected operating income in the current quarter that fell short of analysts’ estimates, worrying investors that the tech giant is spending too much to keep up with competitors in the race for artificial intelligence.

Operating profit will be $15.5 billion to $20.5 billion in the period ending in September, compared with an average estimate of $19.4 billion. Sales will be $174 billion to $179.5 billion, the company said Thursday in a statement. Analysts, on average, expected $173.2 billion.
Chief Executive Officer Andy Jassy is engaged in an AI infrastructure arms race with Microsoft Corp. and Alphabet Inc. that requires heavy spending on data centers. Both of those rivals reported strong earnings earlier this week showing they are benefiting from the AI boom.

Today's show features:

• Bloomberg Intelligence Senior Technology Analyst Anurag Rana and Senior Analyst for E-commerce & Athleisure Poonam Goyal on Amazon’s earnings
• Ivan Feinseth, Chief Investment Officer and Research Director at Tigress Financial Partners, with reaction and analysis of Apple and Amazon earnings
• Jayati Bharadwaj, Director of FX Strategy for TD Securities, on the recent US dollar rally
• Bloomberg News US Legal Reporter Erik Larson on US Justice Department lawyers defending President Donald Trump's authority to impose global tariffs at a hearing in Washington

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Waste Management beat Wall Street's sales and earnings targets for Q2. The company raised its full-year free-cash-flow target. While management lowered its sales target for the year, margins are coming in better than previously anticipated.

John Morris, President and Chief Operating Officer of WM, speaks on the company's quarterly earnings and technological advancements at the firm

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

Federal Reserve Chair Jerome Powell said interest rates are in the right place to manage continued uncertainty around tariffs and inflation, tempering expectations for a rate cut in September.
“There are many, many uncertainties left to resolve,” Powell told reporters Wednesday following the central bank’s decision to once again keep rates unchanged. “It doesn’t feel like we are very close to the end of that process.”

The Federal Open Market Committee voted 9-2 to hold its benchmark federal funds rate in a range of 4.25%-4.5%, as they have at each of their meetings this year. Governors Christopher Waller and Michelle Bowman voted against the decision in favor of a quarter-point cut.
Meanwhile Meta Platforms Inc. topped projections for second-quarter sales and gave a stronger-than-expected forecast for the current period, a sign that the social media company’s advertising business is still growing quickly enough to support aggressive spending on artificial intelligence. The social media giant, which owns Instagram and Facebook, reported second-quarter revenue of $47.5 billion.

As for Microsoft Corp., it was another better-than-expected quarter for growth in its cloud business and the company said spending on AI infrastructure hit a record. The closely watched Azure cloud-computing unit posted a 39% rise in sales during Microsoft’s fiscal fourth quarter, the company said in a statement on Wednesday. Analysts projected 34% revenue growth.

Today's show features:

• Karen Veraa-Perry, Head of US iShares Fixed Income Strategy at BlackRock on the Federal Reserve’s rate decision
• Dan Ives, Global Head of Technology Research at Wedbush Securities, and Bloomberg Intelligence Global Head of Technology Research Mandeep Singh on Meta earnings
• Greg Halter, Director of Research at Carnegie Investment Counsel, and Bloomberg Intelligence Senior Technology Analyst Anurag Rana on Microsoft earnings

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