Bloomberg Intelligence

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Mathieu Dion, Bloomberg Montreal Bureau Chief, discusses Air Canada Chief Executive Officer Michael Rousseau stepping down after causing a public-relations disaster with a video about the deadly runway collision at LaGuardia Airport in New York. Rousseau will retire by the end of the third quarter, according to a statement by Air Canada, after he posted a video statement about the accident that was largely in English, with only "bonjour" and "merci" in French.

- Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses the latest with Meta Platforms. Meta  was looking like the best Big Tech stock in the market when the year began. But investors’ fears of legal risks and heavy spending on artificial intelligence are bubbling to the surface, culminating in last week’s 11% rout.

- Ed Price, Senior Non-Resident Fellow at New York University, discusses the latest on the Iran war. Missile strikes ripped across the Middle East over the weekend as Iran and its proxies lobbed attacks at US allies. President Donald Trump said he’s ready to make a deal with Iran, telling reporters Sunday aboard Air Force One that an agreement could come soon.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Brian Egger, Bloomberg Intelligence Senior Gaming and Lodging Analyst, discusses Carnival earnings. Carnival cut its full-year profit outlook as surging crude prices are driving up fuel costs.
The Miami-based cruise operator now sees full-year earnings of about $2.21 per share, adjusted for some items. That’s down from a December forecast of about $2.48 and below analysts’ estimates of $2.35.

- Matthew Schettenhelm, Bloomberg Intelligence Media Litigation Analyst, discusses Meta and Alphabet being found liable in a social media addiction trial.
According to Bloomberg Intelligence: Though social-media addiction litigation will -- barring a global pact -- generate a barrage of bad headlines for Meta, Alphabet, and other social-media companies this year, it doubts direct material business impacts for the deep-pocketed companies.

-- George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses JetBlue and the latest airlines news. According to Bloomberg Intelligence: JetBlue considering options including a sale, as reported by Semafor, highlights risks for low-cost carriers squeezed by weak leisure pricing and surging fuel costs, though finding a suitor may be difficult, with Alaska Air appearing the most logical. United could have interest, as shown by recent codeshare and loyalty-program partnerships, but a combination with a large US carrier would likely face antitrust pushback.

- Randall Williams, Bloomberg Business of Sports Reporter, discusses the top business sports stories. NBA owners voted to explore adding franchises in Las Vegas and Seattle, which would mark the league’s first expansion in two decades.  The commissioner said that the market will determine the value of the team, and that he anticipates robust interest, with the league potentially netting $7 billion to $10 billion for each franchise. He also discusses Major League Baseball and the possibility of a work stoppage.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Ethan Bronner, Bloomberg Israel Bureau Chief, discusses the latest out of the Mid East. US President Donald Trump threatened Iran with intensified military action after Tehran rejected Washington's push for a peace deal. Iran responded to a US ceasefire proposal and is awaiting a reply, with conditions for ending the conflict including a guarantee that the US and Israel won't resume their attacks.

-Kathy Entwistle, Morgan Stanley Managing Director, Private Wealth Advisor, discusses her outlook for the markets. According to Kathy: The Iran conflict and spiking oil prices are threatening to bring back "stagflation" (slower growth paired with sticky inflation.)

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Michelle Davis, Bloomberg News Senior Deals Reporter, discusses Merck agreeing to buy Terns Pharmacueticals for $6.7 billion, giving the company access to a promising new leukemia treatment. The acquisition is expected to close in the second quarter, with Merck paying $53 per share in cash for Terns, a 6% premium to its closing price on Tuesday.

-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses the latest at Walt Disney and Netflix. Walt Disney Co. Chief Executive Officer Josh D’Amaro has seen two billion-dollar technology bets falter, with one of them unraveling entirely, just days into his new job. Separately, Netflix Inc.'s push into livestreaming mega events in Asia is set to accelerate, buoyed by hits from the World Baseball Classic to BTS's comeback show.

-Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses Chewy earnings. Chewy forecast sales for the year that beat analyst estimates, suggesting the online pet retailer expects strong demand to more than make up for headwinds including inflation and tariff uncertainty.

-Justin Pridon, VP, Consulting Services at Revenue Management Solutions, discusses restaurant trends from the BI Farm, Food & Fuel Conference. He talks about what restaurant menus reveal about where food demand is headed, why protein is winning, and how demand might change with rising gas prices.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Clara Hernanz Lizarraga, Bloomberg Companies Reporter, discusses Estée Lauder being in talks to buy Puig Brands, which would create a cosmetics giant with about $20 billion in annual sales. A takeover of Puig would give Estée Lauder well-known perfume and fashion brands such as Rabanne, Jean Paul Gaultier and Carolina Herrera.

-Steve Man, Bloomberg Intelligence Global Autos and Industrials Research Analyst, discusses why a prolonged war with recession threatens a 15% drop in auto sales. According to Bloomberg Intelligence: a sustained spike in Brent crude oil above $100 a barrel favors automakers like Toyota, Tesla and Rivian due to their many hybrids and affordable battery electric vehicles.

-Jennifer Rie, Bloomberg Intelligence Senior Litigation Analyst, discusses Bloomberg Intelligence research on why Nexstar’s Tegna acquisition appears to be at risk of legal pause. Nexstar closed its purchase of Tegna on March 19 after being cleared by the FCC and Justice Department, yet the deal isn't free from risk due to lawsuits to unwind it by eight states and DirecTV.

-Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses the latest in the biotech sector. Pfizer said its experimental Lyme disease vaccine was 73% effective against the tick-borne illness, a lackluster result as fewer-than-expected infections in the pivotal study made its potency hard to evaluate.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, discusses oil falling sharply after President Donald Trump said his team held discussions about ending the conflict with Iran, though Tehran denied any such dialog.

- Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech, discusses the Bloomberg Big Take story: “Apple’s Heir Apparent Ready to Step Into the Spotlight.” Story description: John Ternus, the likely successor to Tim Cook as Apple CEO, is a lot like the current boss: a low-key, hardware-focused guy who can keep things chugging along. But as Apple turns 50, its success may rely more on the continued expansion of its software services businesses and how it adapts to artificial intelligence.

-Steve Lamar, President and CEO of the American Apparel & Footwear Association, discusses the impact of tariffs. He discusses the industry reaction to the SCOTUS decision on IEEPA. He also talks about how the supply chain crisis caused by the war with Iran is impacting the industry. 

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Stocks and bonds rebounded after President Donald Trump said the US and Iran had “very good” conversations about an end to the conflict in the Middle East.  
President rump said strikes against Iranian energy infrastructure and power plants would be postponed for five days following the start of talks with Iran to end the war.  
For details on this development, Tom Keene and Paul Sweeney speak with Bloomberg Middle East Reporter Joumanna Bercetche, Silvercrest Asset Management Head of Investment Policy & Strategy Robert Teeter, and Veda Partners Co-Founder Henrietta Treyz.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Lee Klaskow, Bloomberg Intelligence Senior Transport, Logistics and Shipping Analyst, joins to recap FedEx earnings. FedEx Corp. raised its full-year profit forecast, sending the courier’s shares up the most in 10 months and signaling the plan to restructure its delivery network is gaining traction despite economic volatility. 
- Diana Gomes, Bloomberg Intelligence Senior Equity Analyst, joins to discuss the latest from Unilever. Unilever is in talks to sell its food business to McCormick & Co., with the food business having a potential equity value of as much as €29 billion. A sale would mark the biggest transaction in McCormick's history and transform Unilever into a major household and personal care company, ending its competition with Big Food rivals.
- Jody Lurie, Bloomberg Intelligence Credit Analyst joins to discuss the latest on the cruise industry, Caesars, Six Flags, and other companies that have come under pressure. A potential take-private acquisition of Caesars by Tilman Fertitta shows rising risk for its bonds and those of others in leisure, gaming and related sectors, including Penn Entertainment, Norwegian Cruise Line, Hertz, Avis, United Parks and Six Flags.
- Randall Williams, Bloomberg Business of Sports Reporter joins to discuss the start of March Madness and the latest from the WNBA. The WNBA and Women’s National Basketball Players Association reached a verbal agreement on the terms for a new collective bargaining agreement early Wednesday reported by ESPN. 

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Market news and in-depth company research.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

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

• Jake Silverman, Bloomberg Intelligence Semiconductor Analyst, to recap Micron earnings.
• Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, on earnings from Darden Restaurants
• Lee Klaskow, Bloomberg Intelligence Senior Transport, Logistics and Shipping Analyst, to preview FedEx earnings.
• Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist, on U.S eco/Fed. 

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Bloomberg's Tom Keene and Jonathan Ferro discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Federal Reserve officials left interest rates unchanged and continued to expect one rate cut this year as they acknowledged increased uncertainty due to war in the Middle East.

Chair Jerome Powell emphasized that to resume lowering rates, officials would have to see progress in reducing inflation, especially goods inflation that has been boosted by tariffs.

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