00:00Let's start off. Remember when Dick's Sporting Goods acquired Foot Locker?
00:04Oh, wow.
00:04How'd that turn out?
00:06Well, anyway, Dick's Sporting Goods lowering the full-year outlook weakness at Foot Locker,
00:13the Foot Locker unit overshadowing sales gains that they saw during the World Cup.
00:17So the company now expects net sales to be in a range of $21.9 to $22.2 billion in
00:24the current fiscal year.
00:25That's down from the previous forecast.
00:27Now, the change in outlook driven by a drop in sales at Foot Locker.
00:32They bought that, what, last year for $2.4 billion.
00:36The stock has fallen about 9% this year through the close yesterday.
00:41Compare that with a 12% gain for the S&P 500.
00:43The results of the lower outlook deepens skepticism about the merits of the acquisition,
00:49according to Bloomberg Intelligence.
00:51That's with the Foot Locker deal.
00:52It was announced, what, in May of 2005.
00:55There was a lot of criticism from analysts about Dick's taking a troubled retailer on
01:00that would give it more exposure to struggling malls, for instance.
01:04I feel like a lot of those Foot Locker stores closed up.
01:06I don't see them around anymore.
01:08There's still some out there.
01:09But also, as a result of this, you'll see shares of Nike taking a hit this morning as well.
01:16Let's move on to Apple gearing up to launch a new version of its Mac Mini desktop computer
01:21for the first time in almost two years, at least according to our sources.
01:27The new desktop is going to debut as soon as the coming days.
01:30It potentially is going to put the unveiling ahead of the September event to introduce the next iPhone.
01:37Apple has been testing versions with both the M5 and M6 generations of its processor line.
01:42This upgrade follows a surge in demand for the current Mac Mini.
01:48The current Mac Mini has become very popular with AI tools.
01:53It's a Mac.
01:54I'm confused.
01:55The Mac Mini is a computer, not an iPad.
01:57Right.
01:57And you have to get like two or three to do all sorts of AI stuff to run your business.
02:07You can be like a one-person solo small business and run it with three of them.
02:11My brother's a big deal, to be quick.
02:13My brother's a big deal at this.
02:14Make clear in 2028, 29, 30, everybody's going to be doing AI like on a Mac whatever.
02:23Is that what I have to look forward to?
02:24That's what we have to look forward to who have no clue.
02:28We continue with the no-clue stock movers.
02:30Here is John Tucker.
02:32SpaceX stock, significant yesterday, closed at its June IPO price yesterday, $135.
02:40Elon Musk retweeting a post from NVIDIA about its Vera Rubin semiconductors,
02:46adding that SpaceX has helped design a space-optimized version that was planned for orbit in 2027
02:52with significant scale in 2028.
02:57Space is a very harsh place, radiation, et cetera.
03:01So your chip, in this case, I guess it would be an amended Vera Rubin chip, has to be super
03:06special.
03:08And those chips are going up in price the beginning of next year, at least NVIDIA's chips.
03:12And SpaceX is using NVIDIA's chips.
03:14And Vera Rubin, of course, you know, is the astronomer who looked up into the skies
03:18and saw that the angular momentum of some of the orbits of the galaxies was not what it's supposed to
03:26be.
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