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Brookfield Representative
At Brookfield, we invest in the thing behind the thing behind the Next Big thing. Our focus across infrastructure, energy, real estate, private equity and credit is helping build the backbone of the global economy. We combine deep operational expertise with disciplined long term investing, uncovering value and partnering alongside clients to shape tomorrow's economy. Today. Brookfield Own what's next? Learn more@brookfield.com this is not an offer to sell or investment advice. Investing involves risks, including loss of capital.
Podcast Host (Paul or Scarlett)
Small businesses are the pulse of every community. They bring people together, create opportunities and drive growth. Chase for Business helps business owners like you with personalized guidance and convenient digital tools all in one place. With that guidance and your determination, you can take your business farther and help build a brighter future for your community. Learn more@chase.com business chase for business make more of what's yours the Chase Mobile app is available for select mobile devices. Message and data rates may apply JPMorgan Chase Bank NA member FDIC Copyright 2026 JPMorgan Chase Co.
IBM Representative
So there's a lot of noise about AI, but time's too tight for more promises, so let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now a global workforce of 300,000 can use AI to fill their HR questions, resolving 94% of common questions, not noise. Proof of how we can help companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business IBM
Bloomberg Intelligence Announcer
Bloomberg Audio Studios Podcasts Radio news. You're listening to the Bloomberg Intelligence podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.
Guest Analyst/Reporter
FedEx reported some numbers last night. I thought there were some pretty good numbers given what's going on out there in the world. Stocks kind of unchanged on the day. It's up 35% year to date. Let's break it down because we all deal with FedEx almost on a daily basis. It seems like Lee Klaskow, senior transport logistics and Shipping analyst for Bloomberg Intelligence. He's also host of a weekly podcast, Bloomberg Intelligence Talking Transports. Lee, talk to us about FedEx. What did we learn from their earnings?
Lee Klaskow
Yeah, hey Paul, I thought they did a pretty good print for their fiscal fourth quarter. You know what they've been able to show is that their cost controls. They've had a number of different programs in place that are really starting to pay off and that kind of helped them with their beat, they also painted a relatively okay demand picture for us. They noted that, you know, they didn't see much demand destruction from higher fuel costs, which is, you know, a very good thing to hear. And also they mentioned their B2B business has been benefiting from the built out of data centers and all the stuff that goes into that. You know, they're helping bringing those technologies to the places where they're building those centers. So, you know, they pointed to, you know, decent top line growth. And also, you know, what they also did, which is kind of probably why the stock is down so much over the last 24 hours, is, is, you know, they provided their first calendar year outlook because they were on a physical calendar. Now they're going on a regular good old fashioned calendar reporting schedule. And so I think that might have raised some confusion. Also, you know, the, the guide which topped out at $18.10 at the top of the range I think was slightly below whisper numbers that we were hearing, you know, call it a dime or a quarter, so nothing terrible. So I think, you know, analysts are going to be rejiggering their numbers to probably fit within management's expectations. But what I would note is that management recently has been doing a pretty good job of providing some sort of modest guidance, if you will, and then beating that. And that is something that the street definitely wants to see because prior to, I would say the last couple of quarters, they had a history of doing the opposite, maybe over delivering and overpromising and under delivering.
Podcast Host (Paul or Scarlett)
So yeah, investors tend not to forget that solely when it comes to competition. I mean, there's only so much FedEx can do about things like oil prices and tariffs and demand is tied to how the economy is doing when it comes to competition. Amazon, of course, plans to expand its logistics business. How well positioned, or perhaps not so well positioned is FedEx and along with its peers for that.
Lee Klaskow
Yeah, so, you know, Amazon made an announcement a couple of weeks ago that it was broadening out its logistics services to third parties. This really wasn't new news. They were kind of doing these services for a while. They kind of more or less repackaged that, yes, they are a competitor to FedEx, but FedEx really doesn't want the same business that Amazon's going after. You know, Amazon first and foremost is starting these business to reduce their overall cost to deliver their packages. And if they can offset that cost by putting other freight in there into their system, they're absolutely for it. You know, FedEx would rather have, you know, obviously all growth is relatively good growth. But if they had their choice, they'd rather have B2B business, which tends to be higher margin business than B2C business.
Podcast Host (Paul or Scarlett)
Stay with us. More from Bloomberg Intelligence coming up after this.
Brookfield Representative
At Brookfield, we invest in the thing behind the thing behind the Next Big thing. Our focus across infrastructure, energy, real estate, private equity and credit is is helping build the backbone of the global economy. We combine deep operational expertise with disciplined long term investing, uncovering value and partnering alongside clients to shape tomorrow's economy. Today. Brookfield Own what's next? Learn more@brookfield.com this is not an offer to sell or investment advice. Investing involves risks, including loss of capital.
IBM Representative
So there's a lot of noise about AI, but time's too tight for more promises, so let's talk about results. At IBM we work with our employees to integrate technology right into the systems they need. Now a global workforce of 300,000 can use AI to fill their HR questions, resolving 94% of common questions, not noise. Proof of how we can help companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business.
Guest Analyst/Reporter
IBM support for this show comes from public.com if you're actively involved in your portfolio, you probably catch yourself repeating the same actions. Buying the dip, manually sweeping idle cash, putting on a hedge on public. You can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English like if the Vix hits 25, buy a put option on the S&P 500 or if my cash balance goes above $20,000, move the excess into my direct index. You approve the workflow and your agent handles the risk, monitoring the market, watching for your conditions and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com market and fund your account in five minutes or less. That's public.com market market paid for by
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You're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple, CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.
Guest Analyst/Reporter
All I know is the weather apps on my phone. They're getting better and better and better. It Tells you now, which is so cool, particularly when you're a beach guy. When you need weather forecast for boating and fishing is rains can start in 12 minutes. Sure enough, 12 minutes later it starts raining.
Podcast Host (Paul or Scarlett)
Yeah, it's pretty impressive. Gone are the days where you had to, you know, stay up and watch the 11pm news to figure out what things would look like the next day.
Guest Analyst/Reporter
You would think some guys, people actually get PhDs in weather. That's the thing, you know. Our next guest does that. Ryan Ward, he's a weather associate. Bnef Ryan, talk to us about. AI is hitting all parts of our life. It's gotta be impacting your business forecasting weather. Cause it's all about the models and what this model is saying. How is AI being used in the world of weather?
Ryan Ward
Yeah, definitely. I think a lot of people think, you know, they hear AI and they're thinking like Claude or ChatGPT or whatever. We have very specific models now that are emerging from for a variety of purposes and weather. And I think the one that we're, I think really shocked and excited by right now is tropical cyclones. Right. It's hurricane season right now. We're expecting probably a lower than average count of hurricanes this year. But surprisingly, you know, last year was basically the first year that AI models were deployed to actually model hurricanes. And they did really well insofar as they did basically better than every model that already exists. Models that have been here for 30 plus years.
Podcast Host (Paul or Scarlett)
Yeah, I guess the question is how far back do the models go when it comes to data? Because I remember how often we hear that this was the storm of the century or we haven't had this kind of storm in X number of years. And if your data only goes back, say 15, 30, even 50 years, that doesn't take you far back enough.
Ryan Ward
Yeah, definitely. I think this is one of the major concerns is that we're concerned that if AI models are only trained on previous data and storms are getting more extreme, maybe they won't be able to actually predict those future storms that are, you know, the most extreme stored on record. And yet last year we had one of those, it was Hurricane Melissa. And yet, you know, the Google DeepMind model, which is an AI based model, did better than every other hurricane model. Basically got its intensity basically correct and its path, you know, where it exactly went also correct. And it's a storm that it could never have seen in the trading data. Right. So that was, I think really remarkable and exciting for us as you know, meteorologists, that these models are doing so exceptionally well, given they're like, you know, a couple of years old, what is
Guest Analyst/Reporter
El Nino and how's it going to impact hurricane season this year?
Ryan Ward
Yeah, a lot of people are talking about El Nino right now. It's, you know, it's this large scale climate phenomenon. It basically all it means is that the Pacific is warmer than average. But that has a lot of downstream implications for weather across the world, really, as far as hurricanes are concerned. We nominally expect that there will be fewer hurricanes than average. You know, if there's maybe on average seven hurricanes in the Atlantic that this year, NOAA expects maybe somewhere between three and six, something like that. And so, you know, that basically just results from the fact that the wind patterns change over the Atlantic and it's less conducive for hurricanes this year.
Podcast Host (Paul or Scarlett)
And what is the relationship between hurricane season here in North America versus, say, the typhoon season in Asia? Does it affect that?
Ryan Ward
Yeah, definitely. So what we generally expect is that the, the relationship between El Nino and what happens in the Atlantic, that's a pretty tried and true impact. We can 50 years of data and see usually during El Nino years, there's less hurricanes in the Pacific. You kind of see different effects. In fact, on the eastern side of the Pacific, closer to the United States, you see perhaps more hurricanes than average. Right. So the way that El Nino impacts globally hurricanes and the circulation patterns is different depending on, on where you are. And so, you know, just because we see less here, we might still see more in the Pacific depending on where you are.
Guest Analyst/Reporter
So who is, who does, who predicts like our hurricanes and tells us where they're going and all that kind of stuff. Is that the government or is that a private thing?
Ryan Ward
Yeah, I think it's a lot of people. Right. So there are a lot of government agencies which have these models because the models are really.
Guest Analyst/Reporter
Is it like a Canadian model, American model?
Ryan Ward
Yeah, exactly.
Public.com or Wise Representative
That's what I hear about.
Ryan Ward
Exactly, exactly. I think as far as tropical cyclones are concerned, American stakeholders are more interested because, you know, the Canadians don't really have an incentive to make a really great tropical cyclone model because there's not like a lot of hurricanes in Canada, you know, but NOAA I think is usually the gold standard for this kind of thing.
Guest Analyst/Reporter
North. The. Who was that?
Ryan Ward
National noaa, the national oceanic and Atmospheric Administration.
Podcast Host (Paul or Scarlett)
Are they, are they still funded? I mean, you know, Doge took a, you know, cut a lot of jobs and I'm guessing that, you know, something that forecasts weather is not high on the current White House's list. Priority list?
Ryan Ward
Yeah, definitely. I think we've seen pretty big highs and lows probably as far as Noah's concerned. You'll see there's hiring pushes very recently to bring back meteorologists because some were, you know, cut in that, you know, the doge of it. All. Right. And so, you know, I think. But, you know, all that aside, like, the meteorologists are doing hurricane prediction and general weather prediction are, like, super important. Right. So these feel a little bit more like jobs that have a little more staying power, I would hope.
Guest Analyst/Reporter
All right, so we've got fewer than average hurricanes.
Podcast Host (Paul or Scarlett)
That is good news. That's good news for everyone. Just a quick question. You have your PhD in atmospheric science. When you were growing up, what did, what did you want to be? Like? You knew you loved weather, but, like, how did you see things playing out?
Ryan Ward
Yeah, I think for me there was two things. I was always, like, really interested. Just like we. I grew up in Florida, and so Florida is known like, it's in this area where, like, the clouds are crazy. Like, I lived in L. A for five years. There's like no clouds there ever. But in Florida, you look up outside any day and just like the scale and scope of the clouds are so crazy. And I was just like always fascinated by that. And then also the BP oil spill was like, such a huge impact on like, all of our, like, Gulf communities. I think just like that really got me turned on to like, you know, environmental, like, engineering science.
Podcast Host (Paul or Scarlett)
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for this show comes from public.com if you're actively involved in your portfolio, you probably catch yourself repeating the same actions. Buying the dip, manually sweeping idle cash, putting on a hedge on public. You can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English, like if the Vix hits 25, buy a put option on the S&P 500. Or if my cash balance goes above $20,000, move the excess into my direct index. You approve the workflow and your agent handles the risk, monitoring the market, watching for your conditions and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com market and fund your account in five minutes or less. That's public.com market paid for by Public
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Guest Analyst/Reporter
on the historical time coming up for ESPN that we definitely want to spend some time talking about. Linda Cohen joins a Sports center anchor for ESPN, retiring after 34 years from ESPN. Linda, thank you so much for joining us. I guess I'd love to just get a sense since you've seen everything in sports television, for better or worse, how has it changed? How has sports television changed? Because ESPN changed everything.
Linda Cohen
Yeah, first of all, thanks for having me, Paul and Scarlett. Really appreciate it. Yeah, it's been a fun time for me. The big shows, the final shows are this Friday and so I have seen everything and most of it's been for the great. You know I like telling this story. You know, I started in 1992, July of 1992 for those who can do the math. 34 years and when they first instituted it instituted the bottom line, that ticker at the bottom before that, you know, telling the scores before we gave them the information. I share this story because many of us on camera SportsCenter anchors were horrified about this because we really cared about our writing and telling a story, setting up the highlight of the game you're about to see, but you're giving away the score. And this was, I don't even know what year this was. Might have been late 90s or whatever, but it was like, you know, Twilight Zone ish for us. You know what I mean? And it was like. And we thought there was a talent meeting and all of us, like, stood up and made our case how awful this would be. Of course, we didn't get our way. And then it turned out to be, again, one of these things that if we don't see, you know, what's wrong with the tv, there's no bottom line that tells us a store before we talk about it. So that's always the first thing that jumps up. But then technically, all the stuff we see when we watch live football get any kind of sporting event, making it easy to watch and all this. But for SportsCenter, ESPN, yes, we were always ahead of it. And I'm really proud that I, you know, I played a, you know, small part of it with my colleagues from the golden era.
Podcast Host (Paul or Scarlett)
I feel like you played an instrumental part of it, not a small part of it. And the fact, thanks, Scarlett. The fact that you started in radio, that's near and dear to our hearts. Of course, because we're talking to you on radio right now. Just give us a little bit of background about you, because I'm intrigued by the fact that you played hockey as a teenager with the boys and against the boys. How much did that factor into your wanting to go into sports broadcasting?
Linda Cohen
Yeah. And thanks, Scarlett, for saying that. Yeah. First, I don't want to forget to say this how, you know, young women like yourself, all these women have reached out to me that are in the business and that is like, I'm really proud of that professional legacy of inspiring all these young women who are in kindergarten, first grade, second grade, watching the sports in arrears before they jumped on the bus, realizing that they too could do it if they saw a woman up there telling them about what happened in the game. Right. Yep. So I'm really professionally most proud of that. The most. So getting back to the hockey thing, I was a kid with very low self esteem. I wore very thick glasses. Now the glasses are not as thick, thank God. But I love sports. Watched it with my dad. Sports gave me something to look forward to. That's how I always phrase it because I didn't really have a lot of friends. I mean, I listened to the Carpenters growing up. I loved depressing stuff. It was awful. It wasn't. I went, don't worry, no one had.
Podcast Host (Paul or Scarlett)
You were emo before your time.
Linda Cohen
Yeah, exactly, exactly, Scarlett. So anyway, you know, then I, then I start playing street hockey with the boys and I realized, you know, I'm really good at this goalie thing. And what I loved about that position is that I could deter. Here's this girl, low self esteem, shy as a, as a wallflower, you know, just kind of melted into the wall. And playing goalie, realizing that I was good at it. And I got contact lenses, by the way, that helped my vision. And you know, and then I was like, wow, people are noticing me. And it wasn't like conceited kind of way, but I felt like I was, wow, I'm helping people, I'm winning games, I'm making the save at the right time. I'm suddenly like somebody. And so I rode that emotion and I added that to just my love of sports and my sports teams and watching the games with my dad. But being a goalie, I like telling this story too because I don't think I ever would have had this career in broadcasting and then onto espn because I started out in radio like you said in New York, working seven days a week. Loved it. Then I hosting three hour solo sports talk shows. It's the best thing. People don't get it and that has made me a better sports center anchor. Oh, by the way, so getting back to the goalie story quickly, you know, when I was playing with the boys, when I first started, my mom found a league on Long island that I was 14, I wanted to play ice hockey. I learned to skate with 40 pounds of goalie equipment on me. And I played. They didn't let me play with 14 year old boys. I had to play with 8 year old boys. Back in the day it was, you know, I'm dating myself, but you can just google me. I mean, it was 1970, 1970, like mid-70s, 5, 76, this kind of time. And so I heard the moms, like I heard the moms whispering, is that a girl in that I see a ponytail out of behind her mask, all this kind of. And I had to block out the noise, I had to block out the critics, I had to block out the people who are like, what is she doing here? Type of verbiage, type of words that I heard and overheard, right? And man, if that doesn't prepare you for, you know, breaking into the boys club, Like I did. And I wrote a book years ago called Conehead and I, I kind of put that tagline on it. I don't know what does because that, I learned to block out the noise. I had my moments, I had my days, I had my crying episodes in ladies rooms, in various workplaces. I'm only human. But you know what, you just believe in yourself and you get enough validation to keep going. Right. You know, we always need a little extra validation, like okay, this, that, this, that. But you, you know, it's just when I look back, it's been a great, great ride.
Guest Analyst/Reporter
And now Linda, I mean your business, the business of sports, cable tv, now it's streaming, it's changing yet again. But what do you think the future is of ESPN in this new world we're in?
Linda Cohen
Yeah, I don't have that crystal ball. I just know that, you know, full disclosure, I'm glad I'm not starting out in the business now. It would be, things have changed, it'd be very challenging. We know about AI, we know about all that. I'm not saying they're going to take the, I don't know, I'm not going to take the plate. We're not going to see robots in SportsCenter chairs, but I'm not sure what we're going to see. On one hand streaming is exciting. On one hand, AI is exciting. But kudos to ESPN and with all these super. In the last five, six, seven years, as you guys have witnessed, it's really jumped leaps and bounds with all these technical changes and adjustments you have to make and the competition. What I love about when I broke in and then, you know, probably the first 25 of the 34 years, maybe the first 28 of the 34 years, you know, there wasn't a lot of super competition to espn. Right? And especially the early days, that was a big thing. Thrilled for all of us that we were the only game in town. Like meaning that's all you could turn to, to see anything. There was, you know, no Internet, blah, blah, blah.
Podcast Host (Paul or Scarlett)
Right.
Linda Cohen
So how are these changes going to affect espn? Honestly guys, I don't, I don't know. But I will be watching.
Podcast Host (Paul or Scarlett)
We'll be watching. As will we all be. As we'll all be. One question I do have for you, Linda, is that you have always said you approach your job as a fan from. Because you are not a professional athlete who then transitioned into becoming an on air talent. Now that most of the commentators on live sports are former athletes themselves. What do normal people like Alinda Cohn offer that, you know, a Charles Barkley doesn't. I mean, what. What can you say? What can you bring to the table to audiences that former athletes can't and don't.
Bloomberg Intelligence Announcer
Yeah.
Linda Cohen
And you're right about your observation that a lot of former athletes have become analysts, and that's great. And, you know, being in a very lower level, a college athlete, you know, I get that. And I always, I've always been athlete friendly, player friendly, that type of thing. But, you know, the, the young people, the young men and women coming out of college who still want to be in the business, there's so many great things that can hone their skills, whether it's YouTube, whether it's TikTok, all these things, you know, that I didn't have, that many of us didn't have. So there are. I would, I would really concentrate on. Even though, you know, AI is there and all that. And it's all about videos now. But the writing, I mean, that is something, the journalistic skill, the writing, you can, you can be way ahead of the former athletes. You can guide them and the way you speak. You know, the one thing I really have learned, and thank goodness for radio guys, because I learned to communicate naturally, not feel like I was reading something, you know, because I started out doing updates, and then I started hosting radio shows, and then you have suddenly like, okay, be conversational. And so that was great. And that helped me in TV and that helped me for 34 years on the Sports center set. So back to your original question. Yes. I mean, that's where you could bring it, being conversational, connecting to the fans. Yes. I say I'm a fan first, because I am. I'm just as nuts about my teams than they are the people watching me. And I tried to show that. But you can also channel that into, okay, you be smart. You know what you're talking about, right? Be prepared. You have to be prepared. When I'm prepared, man, my confidence boosts when I'm not prepared. Right. I mean, when I'm not prepared, I'm doing something like, I don't know about this assignment. Oh, I'm getting nervous about it, you know.
Podcast Host (Paul or Scarlett)
Right, Linda?
Linda Cohen
Exactly. Scarlett.
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Episode: FedEx Slips After First Earnings Since Spinoff
Date: June 24, 2026
Hosts: Paul Sweeney and Scarlet Fu
This episode dives into three major topics of broad interest to investors and business leaders:
The episode is rich in analysis and first-hand perspectives, offering both market intelligence and personal reflection.
Key Segment: [02:04 – 05:39]
Guest: Lee Klaskow, Senior Transport, Logistics, and Shipping Analyst, Bloomberg Intelligence
Main Themes:
Insightful Quotes:
Discussion Highlights:
Key Segment: [08:35 – 13:06]
Guest: Dr. Ryan Ward, Weather Associate, BNEF (Bloomberg New Energy Finance)
Main Themes:
Notable Quotes:
Discussion Highlights:
Key Segment: [16:43 – 27:37]
Guest: Linda Cohn, ESPN SportsCenter Anchor (Retiring after 34 years)
Main Themes:
Memorable Quotes:
Discussion Highlights:
The episode is analytical yet conversational, blending market intelligence with personal narrative. The discussions are insightful, pragmatic, and sometimes nostalgic––both accessible to general audiences and valuable for industry professionals.
For listeners:
This episode delivers actionable insights on logistics-sector investing, the evolving power of AI in business-critical forecasting, and the ongoing transformation of media and representation in sports. Whether you follow markets, technology, or sports media, the stories and analysis are timely and relevant.