Nathan Hager

War impact is showing up in Nike's earnings.

Those shares are down nearly 13 percent at the open on a surprisingly gloomy outlook.

Bloomberg's Isabel Lee reports Nike's expecting down revenues in the single digits for the rest of this year.

Bloomberg's Isabel Lee reporting, and Nike CEO Elliot Hill blew off some steam with staff over the stalled turnaround.

A recording of an all-hands meeting reviewed by Bloomberg shows Hill told staff, quote, we've got work to do.

Shares of Intel are up 5% at the open.

The chipmaker is buying back half of an Irish plant that it sold to Apollo Global Management for $14.2 billion.

And Bloomberg News has learned a drone company backed by President Trump's sons has met with officials in Abu Dhabi to discuss selling its weapons to the United Arab Emirates.

Sources tell us the talks with Powerus have not led to a final deal.

Eric and Donald Trump Jr.

have invested nearly a billion dollars in drone companies through their American Ventures Fund.

That's news when you want it with Bloomberg News Now.

I'm Nathan Hager.

This is Bloomberg.

News when you want it with Bloomberg News Now.

I'm Nathan Hager watching new comments from President Trump on the war with Iran.

In a social media post this morning, the president says Tehran's new president has asked for a ceasefire, but he won't consider it until after the Strait of Hormuz is, quote, open, free and clear.

This follows Oval Office comments heard live on Bloomberg Radio where President Trump said the conflict could end in two to three weeks and that Iran could still reach a deal.

And we get more from Bloomberg's Jumana Bersetchi in Dubai.

And Bloomberg's Jumana Bersetchi notes a third U.S.