Episode summary
BI Weekend: Deere Earnings, Paramount, UFC Deal | Bloomberg Intelligence
Bloomberg Intelligence
· · Hosts: Paul Sweeney, Lisa Mateo · Guests: Christopher Ciolino, Sagit Manor, Geetha Ranganathan, Abigail Gilmartin, Andrew Grant, Woo Jin Ho, Erik Schatzker
Summary
Deere’s quarter pointed to a slow, tariff-pressured bottoming process rather than a clean recovery. The host and a senior US machinery analyst said the earnings beat was low quality, driven by taxes, while weaker construction demand, elevated used tractor inventories and falling crop prices kept the outlook cautious. The analyst still expects earnings to bottom this year and sees only a gradual improvement into 2026, with North American large ag retail demand likely flat to up 5% next year.
The episode also covered Nayax, where management described the company as a global leader in unattended payments for vending, EV charging and other self-service settings. The chief financial officer said EV is one of three main growth drivers and highlighted deployments with EVgo, Electrify America and a hotel agreement that could reach 100,000 charging stations.
In media and consumer, the panel unpacked Paramount’s 7-year, $7.7 billion UFC rights deal as a bold bid to make Paramount+ a must-have sports platform, while Gildan’s $2.2 billion purchase of Hanesbrands was framed as a complementary manufacturing move that could benefit from lower tariff exposure. Cisco’s quarter suggested resilient IT spending but a cautious outlook tied to tariffs and rates, and BNEF’s robo-taxi discussion stressed that regulation, not just technology, is still the key bottleneck. A separate interview on Scott Bessent portrayed him as an unusually influential Treasury Secretary with a wide policy portfolio and close access to President Trump.
Key takeaways
- The senior US machinery analyst said Deere’s 3Q beat was “a lowquality earnings beat” and still expects earnings to bottom this year.
- The analyst expects Deere’s recovery to be “much more modest or subdued” and sees North American large ag demand only flat to up 5% next year.
- Nayax’s chief financial officer said EV is one of the company’s three main growth drivers and pointed to contracts with EVgo, Electrify America and a hotel deal tied to 100,000 chargers.
- The US media analyst said Paramount’s $7.7 billion UFC deal is a statement move meant to make Paramount+ a must-have sports platform.
- Bloomberg NEF’s head of intelligent mobility said about eight robo-taxi services worldwide are fully functional, but the US and China remain the leaders.
- The senior technology analyst said Cisco’s guidance reflected prudence because the company still faces tariff and rate uncertainty.
Notable quotes
“this really wasn't a particularly great quarter. Um, 3Q results were mixed at best. Um, it was really a lowquality earnings beat”
“we still expect earnings to bottom this year. We're still looking at a very, you know, gradual recovery as 2026 unfolds”
“we are actually the global leader in payment and management solution for the unattended market”
“the guidance was a reminder that they are still tied to it spending and um you know we I viewed it as more as prudent conservatism”
How the episode opens
Bloomberg Audio Studios podcasts radio news. This is Bloomberg Intelligence with Paul Sweeney. — The real out performance has been the US corporate high yield. These are two big time blue chip companies. One person's chaos is another person's animal spirits.
Breaking market headlines — And corporate news from across the globe. — Our view is that the economy is slowing down. There is the possibility of a death spiral. — Both quantum computing and AI are going to power the future. — People are just buying everything with tech.
Bloomberg Intelligence with Paul Sweeney — On Bloomberg Radio, YouTube, and Bloomberg Originals. — I'm Paul Sweeney. — And I'm Lisa Mateo filling in on Bloomberg Intelligence. — On today's Bloomberg Intelligence Show, we dig inside the big business stories impacting Wall Street and the global markets.
Each and every week, we provide in-depth research and data on some of the 2,000 companies and 130 industries our analysts cover worldwide. Today we'll look at Al Paramount buying the rights to UFC fights will impact its streaming service.
Plus a look at earnings from the networking bellweather Cisco Systems. — But first we look at third quarter earnings from the farm machinery leader Deer. — This week Deer reported earnings that beat analyst projections, but the company trimmed its projected net income for 2025. This comes as customers remained cautious due to trade uncertainty and the health of the US economy.
For more, Lisa and I were joined by Chris Chelino, Bloomberg Intelligence senior US machinery analyst. We first asked Chris for his key takeaways from Deer earnings. — Listen, I mean, this really wasn't a particularly great quarter. Um, 3Q results were mixed at best. Um, it was really a lowquality earnings beat. Um, primarily driven by a lower tax rate and as you alluded to, they did cut their 20 to 25 guidance.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- deere earnings
- ufc rights deal
- cisco earnings
- apparel acquisition
- robocars
Companies and tickers mentioned
- DE
- PARA
- GIL
- CSCO
- Deere
- Paramount
- Nayax
- Gildan Activewear
- Hanesbrands
- UFC
- Cisco
Watch the episode
Watch “BI Weekend: Deere Earnings, Paramount, UFC Deal | Bloomberg Intelligence” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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