Bloomberg Surveillance

Tesla posted third-quarter profit that fell short of Wall Street’s expectations despite record electric-vehicle sales, a sign of the pressure automakers are facing from shifting federal policies and rising costs.

Adjusted earnings were 50 cents per share in the period, the company said Wednesday in a statement. Analysts had expected 54 cents on average in estimates compiled by Bloomberg. Revenue was $28.1 billion.

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

• Bloomberg Tech Co-Host Ed Ludlow
• Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Wei Li & Ed Morse.

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

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• Darrell Cronk, Chief Investment Officer at Wells Fargo
• Ed Mills, Washington Policy Analyst at Raymond James
• Jane Foley, Head of FX Strategy at Rabobank
• Virginia Governor Glenn Youngkin (R)

Darrell Cronk, Chief Investment Officer at Wells Fargo, shares his 2025 and 2026 year-end projections for the S&P 500. Ed Mills, Washington Policy Analyst at Raymond James, discusses President Trump’s mixed signals regarding a potential meeting with Chinese President Xi Jinping at the APEC summit in Seoul next week. Jane Foley, Head of FX Strategy at Rabobank, shares why the recent surge in gold does not imply a dollar debasement trade. Virginia Governor Glenn Youngkin (R) joins to discuss his efforts to reshore manufacturing in the state.

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney
October 22nd, 2025
1) Wei Li, Global Chief Investment Strategist at BlackRock, gives her projection for corporate earnings and the US economy.
2) Ed Morse, Senior Advisor and Commodities Strategist at Hartree Partners, discusses what's driving the retreat in oil prices and how long it can last.
3) Elizabeth Economy, Hargrove Senior Fellow and Professor of Political Science at Stanford University, discusses the state of US-China trade relations.
4) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Wall Street Journal story on how visa restrictions may be behind a drop in American M.B.A. programs, and Bloomberg News reporting on Hermes' strong sales falling shy of loftier expectations.

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Netflix said a tax dispute with Brazil cut into third-quarter earnings, marring results that otherwise fell in line with Wall Street estimates.

 
The world’s most valuable entertainment company posted quarterly operating income of $3.24 billion, according to a statement Tuesday, about $400 million below its own forecast and analysts’ estimates. The company’s outlook for the current quarter is largely in line with Wall Street projections.

Netflix had to pay about $619 million to settle a multiyear tax dispute with Brazilian authorities going back to 2022. The company had identified the potential risk in previous filings – but not in its earnings guidance — and said it would have beaten forecasts if not for the expense. Future payments will be smaller.“We don’t expect this matter to have a material impact on future results,” the company said.
For instant reaction and analysis, Bloomberg Businessweek hosts Carol Massar and Tim Stenovec speak with:

• Bloomberg News Media and Entertainment Editor Felix Gillette
• Mark Douglas, President & CEO of MNTN
• Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan

See omnystudio.com/listener for privacy information.

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Dominic Konstam & Rohit Goel.

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

See omnystudio.com/listener for privacy information.

- Drew Matus, Chief Market Strategist at MetLife
- Paul Jacobson, Chief Financial Officer at General Motors
- Monica Guerra, Head of US Policy at Morgan Stanley Wealth Management
- Earl Davis, Head of Fixed Income and Money Markets, BMO Global Asset Management

Drew Matus, Chief Market Strategist at MetLife, discusses how investors are turning to earnings for a beat on the economy in the absence of US economic data. Paul Jacobson, Chief Financial Officer at General Motors, joins to discuss the company's earnings. Monica Guerra, Head of US Policy at Morgan Stanley Wealth Management, on the state of trade negotiations between the US and China. Earl Davis, Head of Fixed Income and Money Markets at BMO Global Asset Management, shares his expectations for the Fed's December meeting.

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Isabelle Lee - October 21st, 2025
Featuring:
1) Dominic Konstam, Managing Director and Head of Macro Strategy at Mizuho Securities USA, shares his outlook for Fed rate policy as markets grapple with tariffs and trade tensions.
2) Yelena Shulyatyeva, Senior US Economist at The Conference Board, discusses CEO confidence and her expectations for US economic reports amid the ongoing government shutdown.3) Rohit Goel, Head of Global Macro at Breakout Capital Partners, shares his takeaways from last week's IMF and World Bank meetings and the structural issues facing global economies.
4) Andrew Siciliano, Partner and Trade & Customs Practice Leader at KPMG, discusses the market impact of President Trump's country-specific and industry-specific tariffs.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.
In this episode, we feature conversations with Steven Englander & Michael Green.
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

See omnystudio.com/listener for privacy information.

• Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods
• Innes McFee, Chief Global Economist at Oxford Economics
• Tom Tzitzouris, Head of Fixed Income Research at Strategas
• Terry Haines, Founder at Pangaea Policy

Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods, discusses the recovery in stocks following credit fears that plagued markets last week. Innes McFee, Chief Global Economist at Oxford Economics, discusses investors looking for signs of strength beyond AI. Tom Tzitzouris, Head of Fixed Income Research at Strategas, on the correlation between gold's surge and the bond market. Terry Haines, Founder at Pangaea Policy, gives his perspective on the state of US-China trade relations.

See omnystudio.com/listener for privacy information.