Bloomberg Intelligence

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu On this edition: Paul and Scarlet discuss the aftermath of the U.S attack on Venezuela. They speak with: - Vincent Piazza, Bloomberg Intelligence Senior Equity Research Analyst, Oil & Gas on impact of Venezuela news on oil companies. US oil stocks jumped Monday after President Donald Trump pledged to revive the Venezuelan energy sector following the capture of Nicolás Maduro over the weekend. Chevron Corp., the only American oil major currently operating in the South American nation under special US permission, surged as much as 6.3%, the most since April. ConocoPhillips and Exxon Mobil Corp. also rose. -Will Lee, Bloomberg Intelligence Aerospace and Defense Analyst, and George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, on military implications of Venezuela attack. According to Bloomberg Intelligence: the Jan. 3 operation is unlikely to alter US defense-spending priorities, as it relied on naval and air assets already central to broader power-projection requirements, particularly in the Asia-Pacific. - Aaron David Miller, Senior Fellow at Carnegie Endowment for International Peace, on the aftermath of the Venezuela attack. America's allies offered a measured response after US troops captured Venezuelan leader Nicolas Maduro in a raid, emphasizing diplomacy, dialogue and stability. -Edward Price, Non-Resident Senior Fellow at NYU, on the aftermath of the Venezuela attack. President Trump's approach has sent shockwaves around the world, drawing criticism from various countries, and has been seen as a stark lesson in power politics that accelerates a broader trend toward a reconfigured global order. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. On this special holiday week episode, Paul Sweeney hosts along with Bloomberg Television Hosts Matt Miller and Vonnie Quinn. - Tesla vehicle sales fell 8.6% last year, dropping the Elon Musk-led company well behind China’s BYD Co. in the global ranks of electric-car makers. Fourth-quarter deliveries declined 16% to 418,227 vehicles, Tesla said in a statement Friday, trailing analyst estimates compiled by Bloomberg and the company. On this edition: Paul, Matt, and Vonnie speak with: -Craig Trudell, Bloomberg Global Autos Editor, on BYD meeting its full-year sales target and likely surpassing Tesla to become the world’s largest electric-vehicle maker in 2025. -Ed Ludlow, BTech Co-Anchor, on DeepSeek publishing a paper outlining a more efficient approach to developing AI. -Bill Shufelt, Athletic Brewing Company Co-Founder & CEO, on the outlook for non-alcoholic beer market in 2026 and consumer trends. -Dakota Smith, Hopper Co-Founder & President, on his 2026 travel outlook. See omnystudio.com/listener for privacy information.

Watch Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Hosts: Paul Sweeney and Scarlet Fu. On this podcast: - Deborah Aitken, Bloomberg Intelligence Luxury Goods Analyst, discusses BI’s luxury outlook for 2026. - Jonathan Goldstein, Co-Founder and CEO of Cain International, discusses how his background focused on real estate and experiential investments informs his approach to sports investing. - Lee Klaskow Bloomberg Intelligence Senior Transport, Logistics and Shipping Analyst, discusses BI’s North America railroads outlook for 2026. - John Butler, Bloomberg Intelligence Senior Telecom Analyst, discusses BI’s 2026 outlook for US Telecom and Satellite. - Nathan Naidu, Bloomberg Intelligence Technology Research Analyst, discusses BI's cloud gaming deep dive for 2026. - Christopher Ciolino, Bloomberg Intelligence Senior US Machinery Analyst, discusses BI’s outlook for U.S machinery in 2026. - Bill Keenan, Writer/Producer of Bull Run film, Author of Discussion Materials, discusses the film and where it fits in with other movies about Wall Street. Bloomberg Intelligence, the research arm of Bloomberg L.P., has more than 400 professionals who provide in-depth analysis on more than 2,000 companies and 135 industries while considering strategic, equity and credit perspectives. BI also provides interactive data from over 500 independent contributors. It is available exclusively for Bloomberg Terminal subscribers. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. On this special holiday week episode, Paul Sweeney hosts along with Bloomberg Television Host Matt Miller. - Warner Bros. Discovery plans to once again reject a takeover bid from Paramount Skydance Corp. after the rival media company amended the terms of its offer, according to people familiar with the company’s thinking. The Warner Bros. board hasn’t made a final determination, but will meet next week, said the people, who asked to not be identified discussing internal deliberations. Among the board’s concerns, Paramount has yet to increase its offer, which Warner Bros. earlier rejected as inferior to one from Netflix. On this edition: Paul and Matt speak with: - Luke Stillman, Madison & Wall Managing Director, on the latest at Warner Bros and Paramount. - Theresa Payton, Fortalice Solutions CEO, on her cybersecurity outlook for 2026. -Cathy Seifert, CFRA Analyst, on Berkshire Hathaway entering a new era. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. On this special holiday week episode, Paul Sweeney hosts along with Bloomberg Television Host Matt Miller. -Tesla published a compilation of analyst estimates for vehicle deliveries to its website, and the averages for the current quarter are more pessimistic than those gathered by Bloomberg. By Tesla’s count, analysts on average expect the company to deliver 422,850 cars in the fourth quarter, down 15% from a year earlier. That compares with a Bloomberg-compiled average of 445,061 vehicles, a 10% drop. On this edition: Paul and Matt speak with: -Craig Trudell, Bloomberg Global Autos Editor, on Tesla. - Erin Keating, Cox Automotive Executive Analyst, on EVs. -Amir Vexler, Centrus Energy CEO & President, on nuclear energy and AI demand. -Paul Larbey, Bango CEO, on the latest at Warner Bros. Paramount. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. On this special holiday week episode, Paul Sweeney hosts along with Bloomberg Tech co-host Caroline Hyde. -Oil reversed Friday’s decline as US-led talks to end the war in Ukraine failed to yield a breakthrough, and China vowed to support growth next year. Brent traded near $62 a barrel, while West Texas Intermediate topped $58. The US has stepped up a push to end the war, but sticking points remain, highlighting the difficulty in reaching a deal. President Donald Trump said he made progress in talks on Sunday with Ukrainian counterpart Volodymyr Zelenskiy at Mar-a-Lago. Zelenskiy said he asked Trump for 30 to 50 years of security guarantees. Paul and Caroline speak with: - Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, on oil. - Mike Regan, Bloomberg News Managing Editor for Equities, on Michael Burry, founder of Scion Asset Management, the AI trade and big trades of 2025. - Katherine Chiglinksy, Bloomberg News Investing Team Leader, on the Bloomberg Big Take story: “It’s Revenge of the Banks’ as Private Creditors Lose Their Edge.” - Mina Fahmi, Sandbar Co-Founder & CEO, on the company’s AI-powered smart ring product and AI. See omnystudio.com/listener for privacy information.

Watch Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Hosts: Paul Sweeney and Scarlet Fu. On this podcast: - Lindsay Dutch, Bloomberg Intelligence Consumer Hardlines Senior Analyst, on North America Consumer Hardlines 2026 Outlook - Drew Reading, Bloomberg Intelligence U.S Homebuilding Analyst, on homebuilder sentiment in 2026 - Vincent Piazza, Bloomberg Intelligence Senior Equity Research Analyst, Oil & Gas on 2026 Outlook: US Natural Gas E&Ps - Calvin Butler, CEO of Excelon, on data center boom/challenge of managing an energy grid. - Beth Kowitt, Bloomberg Opinion Columnist, on Inside Walmart’s Masterclass in Reputation Rehab - Connie Chung, award-winning journalist and news anchor, recent author of her memoir "Connie" on the changing media/news landscape Bloomberg Intelligence, the research arm of Bloomberg L.P., has more than 400 professionals who provide in-depth analysis on more than 2,000 companies and 135 industries while considering strategic, equity and credit perspectives. BI also provides interactive data from over 500 independent contributors. It is available exclusively for Bloomberg Terminal subscribers. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. On this special holiday week episode, Paul Sweeney hosts along with Bloomberg Tech co-host Caroline Hyde. Oil slumped in muted post-Christmas trading as investors assessed a step forward in long-stalled Ukraine peace talks which could lead to a deal that allows more Russian oil into global markets grappling with oversupply. West Texas Intermediate edged down on Friday to trade near $58 a barrel, though still on track for the biggest weekly gain since late October, while Brent was below $62. Ukrainian President Volodymyr Zelenskiy said he expects to meet with US President Donald Trump in Florida on Sunday about ending Russia’s war, adding that his country’s framework deal with the US was “almost ready” and signing it will depend on the upcoming meeting. Paul and Caroline speak with: - Dr. Ellen Wald, Atlantic Council Senior Fellow discusses oil amid geopolitical unrest - Mishel Alon, Chief Business Officer at Verve discusses consumer sentiment and spending - Carol Pepper, CEO at Pepper International discusses markets See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Kristine Aquino (in for Scarlet Fu) See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu - John Tozzi, Bloomberg Health Care Reporter, discusses Novo Nordisk winning approval to sell a pill version of its obesity shot Wegovy in the US, to help people lose weight or maintain previous weight loss over the long term. - Reshmi Basu, Bloomberg News Credit Reporter, discusses Saks Global Enterprises, facing limited options ahead of a more than $100 million debt payment due at the end of this month, considering Chapter 11 bankruptcy. -George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, talks about his outlook for North Americans airlines in 2026. - Nathan Dean, Bloomberg Intelligence Senior Policy Analyst, breaks down the 2025 "Winners & Losers" See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Stephen Flynn, Bloomberg Intelligence Senior Credit Analyst, discusses Larry Ellison throwing his personal fortune behind Paramount Skydance Corp.’s bid for Warner Bros. Discovery Inc., raising the stakes in a fiercely contested battle with Netflix Inc. -Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist, says that heading into the new year, the Federal Reserve may be about to pause interest-rate reductions to give it more time to assess additional data and to determine the next policy path now that rates are "within a range of plausible estimates of neutral" as Chair Jerome Powell said. -Jody Lurie, Bloomberg Intelligence Credit Analyst, discusses why cruise lines may edge out theme parks on 2026 cash-flow growth -Brian Campbell, Leader of The Conference Board’s Governance & Sustainability Center discusses on new research on CEO turnover/firings, along with activist campaigns targeting CEOs See omnystudio.com/listener for privacy information.

Watch Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Hosts: Paul Sweeney and Scarlet Fu. On this podcast: - Tim Craighead, Bloomberg Intelligence Global Chief Content Officer, discusses 50 companies to watch in 2026. - Devon Pendelton, Bloomberg Wealth Reporter, discusses the Bloomberg Big Take story: “Saudi Sisters Wield $50 Billion Fortune as Global Power Brokers.” - Steve Man, Bloomberg Intelligence Autos and Industrials Research Analyst, discusses ‘Ford’ announcing it will take $19.5 billion in charges tied to an overhaul of its electric vehicle business. - Kristina Peterson, Bloomberg News Food Industry Reporter, discusses Kraft Heinz tapping a new CEO. - Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses myeloma research. - Sri Natarajan, Bloomberg News Chief Wall Street Correspondent, discusses McKinsey job cuts. - Zeke Faux, Bloomberg Investigative Reporter, discusses the Bloomberg Big Take story: “A Shadowy Global Network Helped Trump Make Millions in Memecoins.” Bloomberg Intelligence, the research arm of Bloomberg L.P., has more than 400 professionals who provide in-depth analysis on more than 2,000 companies and 135 industries while considering strategic, equity and credit perspectives. BI also provides interactive data from over 500 independent contributors. It is available exclusively for Bloomberg Terminal subscribers. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, recaps Nike earnings. Nike Inc. shares fell after the company warned that sales will decline this quarter amid persistent weakness in China and at its Converse brand. The world’s largest sportswear company expects revenue to be down in the low-single digits in the three months that started Dec. 1, a surprising turn after two straight periods of growth. -Lee Klaskow, Bloomberg Intelligence Senior Transport, Logistics and Shipping Analyst, recaps FedEx earnings. FedEx Corp. offered investors a sign that Chief Executive Officer Raj Subramaniam’s turnaround plan may be worth the wait. The shipping titan raised the low end of its profit outlook for the year and reported earnings for the most recent quarter that topped Wall Street estimates, helped by volume and pricing gains in the US. -Brian Egger, Bloomberg Intelligence Senior Gaming and Lodging Analyst, recaps Carnival earnings. Carnival Corp. gave a better-than-expected profit outlook for next year and reinstated dividend payments, sending shares higher. The Miami-based company expects adjusted net income to rise about 12% in 2026, higher than the average analyst estimate of an 8.7% increase. Carnival also announced a quarterly dividend of 15 cents a share after payouts were discontinued in 2020. - Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses TikTok being bought by a group of buyers led by Oracle Corp, with the company and ByteDance signing binding agreements to create a US joint venture. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Simon Casey, Managing Editor for Energy and Commodities, discusses Trump Media & Technology Group announcing that it agreed to merge with clean fusion energy company TAE Technologies in an all-stock transaction valued at more than $6 billion. -Jake Silverman, Bloomberg Intelligence Semiconductor Analyst, recaps Micron earnings. Micron gave an upbeat forecast for the current quarter, signaling that surging demand and supply shortages are allowing the company to charge more for products. -Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses activist investor Elliott Investment Management building a stake of more than $1 billion in Lululemon Athletica, according to a person familiar with the matter. This comes as the struggling retailer faces a strategic overhaul amid its chief executive officer’s exit. -Rachel Phua, Bloomberg Earnings Specialist, discusses earnings from Darden Restaurants. Darden raised its comparable sales forecast, citing better-than-expected growth fueled by affordable meal options and strong spending from higher-income diners. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses the latest on Warner Bros Discovery. Warner Bros. advised its shareholders to reject a hostile takeover bid by Paramount Skydance Corp. in favor of its original agreement with Netflix Inc. --George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses bankrupt Spirit Aviation Holdings being in revived discussions to merge with Frontier Group Holdings. That’s according to people familiar with the matter. It’s deal that could rescue the deep-discount airline from insolvency. -Drew Reading, Bloomberg Intelligence U.S Homebuilding Analyst, recaps Lennar earnings. Builder Lennar Corp.’s forecast for quarterly home orders missed analysts’ estimates as affordability pressures and the weakening job market pushes buyers to the sidelines. The company projected 18,000 to 19,000 signed contracts for its fiscal first quarter, according to a statement Tuesday. Analysts expected 20,297, the average in a survey compiled by Bloomberg. -Jonathan Palmer, Senior Equity Research Analyst at Bloomberg Intelligence, discusses Medline’s IPO. Medline raised $6.26 billion in the year’s biggest initial public offering, upsizing the deal and pricing the shares near the top of the marketed range. The company sold 216 million shares for $29 each, giving it a market value of about $39 billion based on the number of shares listed in its filings with the US Securities and Exchange Commission. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Steve Man, Bloomberg Intelligence Autos and Industrials Research Analyst, discusses news that Ford Motor will take $19.5 billion in charges tied to a sweeping overhaul of its electric vehicle business after struggling for years to make it profitable. -Kristina Peterson, Bloomberg News Food Industry Reporter, discusses Kraft Heinz naming a new chief executive officer, with former Kellanova CEO Steve Cahillane set to take over from Carlos Abrams-Rivera on Jan. 1. -Tim Craighead, Bloomberg Intelligence Global Chief Content Officer, discusses Businessweek’s list of 50 companies to watch in 2026. Analysts at Bloomberg Intelligence track thousands of companies in industries ranging from computers and cars to finance and food. -Devon Pendleton, Bloomberg Wealth Reporter, discusses the Bloomberg Big Take story: “Saudi Sisters Wield $50 Billion Fortune as Global Power Brokers.” The Olayan Group, a Saudi empire led by sisters Lubna and Hutham, has grown in influence, with a nearly $13 billion stock portfolio in the US and stakes in companies like BlackRock and JPMorgan Chase. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Sri Natarajan, Bloomberg News Chief Wall Street Correspondent, discusses McKinsey's leadership discussing cutting about 10% of headcount across non-client-facing departments, which could amount to a few thousand job cuts over 18 to 24 months. -Jennifer Rie, Bloomberg Intelligence Senior Litigation Analyst, discusses regulatory concerns for acquiring Warner Bros Discovery. Netflix is trying to close its $82.7 billion deal after Paramount made a hostile offer for Warner Bros., with the CEOs expressing confidence in their agreement despite regulatory concerns. -Zeke Faux, Bloomberg Investigative Reporter, discusses the Bloomberg Big Take story: “A Shadowy Global Network Helped Trump Make Millions in Memecoi.” Description: The trail from the Trump family memecoins leads all the way back to the origins of memecoins, an unregulated, nihilistic gambling game that swept the crypto world. -Drew Reading, Bloomberg Intelligence U.S Homebuilding Analyst, discusses his outlook for homebuilders in 2026. According to Bloomberg Intelligence: US homebuilder fundamentals will remain pressured in 2026 amid sluggish top-line growth and ongoing margin headwinds. See omnystudio.com/listener for privacy information.

Watch Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Hosts: Paul Sweeney On this podcast: - Matthew Bloxham, Bloomberg Intelligence Tech Analyst, discusses the BI Survey: “AI’s Cross-Industry Industry Disruption.” - Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses the FDA probing if covid shots might be linked to deaths of adults. - Anurag Rana, Bloomberg Intelligence Technology Analyst, recaps Oracle earnings. - Matthew Palazola, Bloomberg Intelligence, Senior Analyst, P&C Insurance, discusses the succession plan at Berkshire Hathaway. - Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, recaps Cracker Barrel earnings. - Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses the latest with packaged foods/Campbell’s. - Ana Davies, Bloomberg BNEF Head of Renewable Fuels discusses US biofuel trade flows. Bloomberg Intelligence, the research arm of Bloomberg L.P., has more than 400 professionals who provide in-depth analysis on more than 2,000 companies and 135 industries while considering strategic, equity and credit perspectives. BI also provides interactive data from over 500 independent contributors. It is available exclusively for Bloomberg Terminal subscribers. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Kristine Aquino -Anurag Rana, Bloomberg Intelligence Technology Analyst, discusses Oracle pushing back the completion dates for some of the data centers it’s developing for the artificial intelligence model developer OpenAI to 2028 from 2027, according to people familiar with the work. -Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, recaps Broadcom earnings. Broadcom, a chip company vying with Nvidia for AI computing revenue, suffered the worst stock decline in 10 months after its sales outlook for the market failed to meet investors’ lofty expectations. -Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses Lululemon Athletica earnings. The company boosted its full-year outlook and announced that its chief executive officer would step down. - Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Walt Disney licensing iconic characters including Mickey Mouse and Cinderella to OpenAI for use on its artificial intelligence video platform and has agreed to take a $1 billion stake in the startup. See omnystudio.com/listener for privacy information.

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Isabelle Lee - Anurag Rana, Bloomberg Intelligence Technology Analyst, discusses Oracle shares plunging by the most since January, erasing more than $100 billion in market value, after the company escalated its spending on AI data centers and other equipment, rising outlays that are taking longer to translate into cloud revenue than investors want. -Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses the latest on Warner Brothers Discovery. A sale of news network CNN, which President Donald Trump says is required for any Warner Bros. Discovery transaction, stands to fetch at least a $3.6 billion valuation when applying a conservative 4.5x multiple to 2026 Ebitda of around $800 million, as estimated by Kagan. -Madison Muller, Bloomberg Health Reporter, discusses how a next-generation obesity shot from Eli Lilly & Co. helped patients lose almost a quarter of their body weight, potentially making the experimental drug the most potent weight-loss medicine yet. -Lindsay Dutch, Bloomberg Intelligence Consumer Hardlines Senior Analyst, discusses Bloomberg Intelligence’s North America Consumer Hardlines outlook for 2026. According to BI, revenue gains should extend in 2026 for most consumer-hardlines retailers in our coverage, building on demand that's poised to push top-line growth to a three-year best, on average, in 2025. See omnystudio.com/listener for privacy information.