By coinnews 
00:00 Speaker A
It’s now time for some of today’s trending tickers. We are watching Nike, BYD, Tesla, and Snowflake here. First up, Nike says it will sell items directly on Amazon for the first time since 2019. Shares moving slightly higher ahead of the market open. In separate news, Nike is planning to raise prices on some items as soon as June 1st. The increases range from $2 and $10 per item and will not apply to children’s merchandise or items under $100. Shares right now moving higher by about 1 and a half percent. At least on the retail resumption and some of those partnerships here, especially coming after the tie-up most recently between Dicks and Foot Locker, two of their biggest wholesale partners here, as you’re thinking about what Amazon would give them, and this deal and partnership that they’ve had with Amazon previously, they kind of went back into that direct-to-consumer strategy and really brought more of that closer to the vest, and then cut off some of those other channels that they were selling into, trying to increase some of the brand value, price controls as well. And now under Elliott Hill, you’re seeing kind of a reversal of that strategy here. Had the opportunity actually to meet him over the weekend, um, and it was really good, interesting to see how the team is rallying around some of the strategy as well.
02:01 Speaker B
Yeah, to come back to those wholesale channels, it is interesting, two things to mention here with this new renewed partnership with Amazon. First of all is that, as part of it, Amazon apparently has promised to redouble its efforts on counterfeits and non-Nike sold sneakers on the platform. So that’s thing one, because that was one of the reasons that Nike had pulled back from Amazon in the past. Thing two is how it will affect potentially some of the other wholesale partners. There was an interesting note this morning from John Zolidis over at Quo Vadis Capital where he said, you know, this could be negative for the likes of a Foot Locker and a Dicks if people are going to be going to Amazon and not to those channels, and even perhaps to Academy Sports as well. He’s not a bull on those. But we’re not seeing a big reaction this morning, but it’s something to continue to watch here because those labels, especially Foot Locker, are so indexed to Nike.
03:45 Speaker A
For those wondering which shoe the Nike CEO wears, it was the Kobe Mambacitas, actually.
03:57 Speaker B
I I have to Google that. I don’t know off the top of my head what those look like.
04:13 Speaker B
And next, Chinese automaker BYD outselling Tesla for the first time in Europe in the past month. That’s according to research from Jato Dynamics. BYD’s EV sales jumped 169% in April, making it one of the top 10 EV producers in Europe. Meanwhile, Tesla sales fell by 49% in the past month, and they were down 30% in the first three months of the year. Now, these two are really neck and neck here. We’re talking about BYD with 7,231 vehicles here. So really just inching out Tesla with 7,165. What’s interesting to me here when you look at these numbers from Jato Dynamics is that we just had Elon Musk speaking to that big conference in Qatar and saying, well, everybody was down in Europe over the past couple of months, and clearly that’s not really the case, particularly with EVs. The Volkswagen Skoda brand in particular in EVs has been doing well, but interesting to see that gaining of BYD in particular.
05:55 Speaker A
Yeah, some of the big numbers that stuck out to me from the Jato Global analyst here, Tesla reporting a 49% year-over-year drop in total volumes in April. You compare that to BYD and what took place, an increase of 359%. And then additionally, what makes this even more remarkable,
06:23 Speaker B
359% includes the hybrids as well. So it’s all of those BYD cars.
06:28 Speaker A
Yes, so that’s correct.
06:31 Speaker B
Correct.
06:32 Speaker A
But more interesting as well is that BYD only got into this region back in 2022. So essentially over the course of the past, you know, you can count them on one hand, number of years here as we’re thinking about how quickly this company has ramped up, stolen some of that market share, but then also, of course, within the regions that they’re operating, trying to bring on even more of the manufacturing power in those specific regions so that they don’t get hit with as many tariffs as all of the auto manufacturers are thinking about. I think that’s what really is remarkable as we’re taking a look at the year-to-date move here, up by about 74%.
07:17 Speaker B
Yeah.
07:18 Speaker A
Finally, here tracking Snowflake raising its full-year product sales guidance and issuing an earnings beat for the first quarter. Shares of the cloud storage company, they are moving higher this morning. This was Snowflake’s first-ever quarterly sales above $1 billion. It’s now anticipating yearly product revenue of $4.33 billion. Shares higher pre-market by about 8.4%.
07:51 Speaker B
Yeah, a lot of the company’s AI related products, you know, it’s using this data to train some of that. That’s really apparently what it’s leveraging here and one of the things that has been driving the sales.