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Speaker 1: Global Business News twenty four hours a day, Bloomberg Dot

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Speaker 1: gom So Radio plushlobles a Bloomberg bats flash from Bloomberg

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Speaker 1: World Headquarters on Katherine Cowdery and AzaC closing bell sounds.

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Speaker 1: It finds a down industrial average, down thirty points and

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Speaker 1: eighth of repercent, treating an eighteen thousand, two hundred forty

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Speaker 1: s and P five thundered down seven point three nasack

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Speaker 1: down fourteen points a quarter percent at fifty two ninety two. Well,

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Speaker 1: the stock market narrowed earlier losses in afternoon trading after

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Speaker 1: the Job's report showed steady growth in the labor market,

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Speaker 1: though not enough to force a federal reserve to rush

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Speaker 1: to raise interest rates. Employers added one hundred fifty six

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Speaker 1: thousand jobs a month. The jobless rate rose to five

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Speaker 1: percent as a labor participation rate increased. Greg Reader, chief

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Speaker 1: investment officer at black Rock Advisors, spoke about the Job's

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Speaker 1: report on Bloomberg Television. So I thought it was a

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Speaker 1: solid number. I think the markets were expecting since some

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Speaker 1: of the recent growth that has been pretty good. Maybe

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Speaker 1: a bit higher, But actually you take out to some

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Speaker 1: seasonality of the government worker number, and if you actually

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Speaker 1: put that back to normal. Then, uh, we're back at

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Speaker 1: about a hundred seventy thousand jobs. We take in markets

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Speaker 1: every fifteen minutes throughout the trading day, down industrial leverage

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Speaker 1: and down twenty eight points as it begins to settle

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Speaker 1: an eighth of a percent to eighteen thousand, two hundred

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Speaker 1: forty west six Centemedia crude oil down eighty cents, up

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Speaker 1: barrel one point six percent to forty nine sixty four.

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Speaker 1: Spot gold is up four dollars thirty cents hence at

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Speaker 1: twelve fifty seven twenty and that ten year treasury up

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Speaker 1: four thirty seconds at one point seventy two sixteen. Among

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Speaker 1: today's top business stories, Qatar's royal family is considering increasing

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Speaker 1: at stake in Deutsche Bank to as much as twenty

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Speaker 1: five percent. That's according to people with knowledge of the matter.

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Speaker 1: They say a former prime minister of the Gulf state

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Speaker 1: and the former emir are exploring increasing their current stake

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Speaker 1: of about ten percent in Germany's biggest lender. Now. Deutsche

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Speaker 1: Bank has been under pressure to restore confidence in the

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Speaker 1: company's ability to withstand pending litigation costs. Boeing has landed

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Speaker 1: an eighteen point six billion dollar deal with Qatar Airways

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Speaker 1: for his much as one aircraft. It provides a sales

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Speaker 1: boost to the company's upgraded seven thirty seven jetliner with

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Speaker 1: one of the years largest commercial airplane deals. It's a

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Speaker 1: four oh two on Wall Street, and that means it's

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Speaker 1: time to get an update of some of the other

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Speaker 1: stories we're following today on Bloomberg Radio. Catherine, thank you

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Speaker 1: from the Bloomberg News Room. I'm Mark Crumpton. This news

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Speaker 1: update is brought to you by Instinct Options from Bank

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Speaker 1: of America, Merrill Lynch Capture Liquidity and US Equity and

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Speaker 1: Index Options trading. By unleashing the in depth market insights

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Speaker 1: and adaptive algo strategies of Instinct Options, that's the power

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Speaker 1: of global connections. There are new concerns about Hurricane Matthew

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Speaker 1: as the storm heads North. National Guard Air Force Major

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Speaker 1: General j C with them primarily looking at flooding, especially

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Speaker 1: in South Carolina and North Carolina is a great deal

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Speaker 1: of those states that are already saturated in terms of rain.

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Speaker 1: Matthew's top sustained winds are now clocked at one hundred

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Speaker 1: fifteen aisles per hour As the storm moves off the coast,

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Speaker 1: of northeastern Florida. It's still threatening such historic sites as Savannah,

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Speaker 1: Georgia and Charleston, South Carolina. FEMA Administrator Craig Fugate and

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Speaker 1: if you're in the evacuation zone. The storm is being

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Speaker 1: blamed for at least two hundred eighty deaths in the Caribbean.

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Speaker 1: Hillary Clinton leads Donald Trump and the latest national election poll,

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Speaker 1: the new Quinnipeac University survey, as Clinton leading Trump. To

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Speaker 1: Clinton's lead in the survey comes two weeks after an

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Speaker 1: earlier poll found she was neck and neck with Trump

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Speaker 1: among likely voters. New Jersey Transit says rail service will

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Speaker 1: resume Monday morning at a portion of the Hoboken terminal.

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Speaker 1: It's been closed since last week's train crash, in which

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Speaker 1: one woman was killed and more than one hundred injured.

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Speaker 1: Investigators believed the train was traveling at twice the speed

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Speaker 1: limit when it entered the terminal. Global News twenty four

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Speaker 1: hours a day, powered by more than twenty hundred journalists

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Speaker 1: and a list in over one hundred twenty countries. I'm

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Speaker 1: Mark Crumpton, this is Bloomberg. Katherine, thank you, and now

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Speaker 1: let's get a quick update of those benchmarks. As they

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Speaker 1: begin to settle down. Industrial leverage down twenty eight points

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Speaker 1: to eighteen thousand, two hundred forty s and p F

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Speaker 1: foundered down seven points three. Then Aazak is down fourteen

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Speaker 1: at fifty two ninety two. Bloomberg taking SOCC is brought

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Speaker 1: to you by Hartford Funds, where they believe in human

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Speaker 1: centric infesting because no matter how far technology advances, investors

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Speaker 1: will always be humans first. And that's a bloom Purposes

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Speaker 1: splash move around most prairie promotion. I feel earth move.

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Speaker 1: You moved like they do. I've never seen anyone move

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Speaker 1: that back fired people. It's moved like you've got a purpose.

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Speaker 1: That he's called movers and shakers. They cost a little more.

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Speaker 1: That name cracked me up. Bloomberg taking stock Movers and

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Speaker 1: Shakers with pim Fox and Kathleen Hay's on Bloomberg Radio,

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Speaker 1: definitive down day for stocks a D thirty gainers, three

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Speaker 1: seventy one losers for closing unchanged. I'm Kathleen Hayes along

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Speaker 1: with pim Fox Stocks editor Joe Sioley is back to

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Speaker 1: kickoff movers and shakers. So first up, we have PPG Industries.

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Speaker 1: This is the world's largest paint coatings maker. UH. The

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Speaker 1: stock was down eight point six per cent today. That's

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Speaker 1: the biggest decline in more than six years. UH. The

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Speaker 1: reason being, UM, they posted third quarter earnings that trailed

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Speaker 1: analysts estimates. UM. What they did at this quarter was

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Speaker 1: they divested some some not very core businesses flat glass

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Speaker 1: and fiberglass units UM as they continue to tighten their

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Speaker 1: focus on architectural paints and uh an automobile coatings. UM.

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Speaker 1: But in the short term, investors UH not seeing the

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Speaker 1: results they wanted and UH, you know they missed estimates.

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Speaker 1: There PPG, the old Pittsburgh plate Glass company. I'll tell

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Speaker 1: you about Apple. Apple shares up about a tenth of

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Speaker 1: a percent, a hundred and fourteen dollars and six cents

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Speaker 1: for a share of Apple. Apple winning an appeals court

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Speaker 1: ruling that reinstates a patent infringement verdict that it won

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Speaker 1: against Samsung Electronics, including its slide to unlock feature that

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Speaker 1: you may note on the smartphones as well as tablets.

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Speaker 1: This coming from the U. S. Court of Appeals for

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Speaker 1: the Federal Circuit, said that a three judge panel was

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Speaker 1: wrong to throw out that one hundred and twenty million

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Speaker 1: dollar verdict in February. Instead, it ordered the trial judge

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Speaker 1: to consider whether the judgment should be increased based on

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Speaker 1: any intentional infringement by Samsung once again. Shares of Apple

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Speaker 1: up about a tenth of a percent today a hundred

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Speaker 1: and fourteen dollars and six Honeywell Boy Oh Boy down

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Speaker 1: nearly eight percent at the close today. That's the biggest

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Speaker 1: drop in more than a year. Report a preliminary third

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Speaker 1: quarter profit below its forecast. It cut the pop in

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Speaker 1: the earnings targets. Sales are slumping for aircraft parts, and

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Speaker 1: Honeywell predicted the business jet market will remain week next year.

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Speaker 1: This fuel declines and other aerospace manufacturers like text Drawn

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Speaker 1: they make helicopters, Incessant and Jett, General General Dynamics, it

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Speaker 1: makes golf streams, and United Technologies Who's Prott and Whitney

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Speaker 1: makes engines slumps and emerging markets and the oil industry

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Speaker 1: have primp demand for business aircraft and helicopters, and in

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Speaker 1: fact witness weakness in business jet demand is spreading to

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Speaker 1: regions such as North America and Europe. This is what

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Speaker 1: the CEO said today. Uh and it adds there's also

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Speaker 1: weak sales because of Russian economic sanctions. I could go

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Speaker 1: on and on, but it's definitely a tough report and

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Speaker 1: a tough time for Honeywell. Next is Clovis Oncology. Uh.

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Speaker 1: This is a company developing a drug for ovarian cancer. Uh.

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Speaker 1: It sank as much as which was the most in

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Speaker 1: eleven months on entry day. Basis ended up closing about

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Speaker 1: eighteen percent down. Uh. They're trying to develop a drug

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Speaker 1: that would compete with a drug called limpar Um from

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Speaker 1: Astra Zeneca should it be approved. However, it was less

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Speaker 1: than less effective than investors and analysts expected it to be.

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Speaker 1: UM some very low efficacy readings here. Um. Actually none

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Speaker 1: of the patients with the disease um that we're impervious

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Speaker 1: to a certain type of chemotherapy had saw any reaction

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Speaker 1: at all. So I'm a huge setback for for Clovis

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Speaker 1: Oncology here, and uh, you know, some the next round

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Speaker 1: of testing certainly be something that investors will be keeping

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Speaker 1: an eye on. Shares of c I T Group rising today.

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Speaker 1: Taking a look at the c I T, which of

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Speaker 1: course lending and leasing services. Uh. The stock up one

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Speaker 1: and a half percent thirty six dollars and ninety three

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Speaker 1: cents for c I T Group. This has to do

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Speaker 1: with their in their agreement to sell the aircraft leasing

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Speaker 1: business of c I T to China's h n A

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Speaker 1: Group price tag ten billion dollars and also saying that

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Speaker 1: it plans to return some of that money to shareholders.

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Speaker 1: The commercial lender once again announcing that it is going

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Speaker 1: to sell its aircraft leasing business. As results, shares of

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Speaker 1: c I T higher by one and a half percent. Well,

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Speaker 1: Tyson Foods also having a pretty big slump today, more

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Speaker 1: than ten percent. They already had this dark cloud hanging

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Speaker 1: over their head. A lawsuit filed in Illinois District Court

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Speaker 1: in September saying that starting a two thousand eight broiler

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Speaker 1: chicken producers including Tyson, Pilgrims, and Sanderson colluded by sharing

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Speaker 1: proprietary data and reducing production. And the allegations assert that

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Speaker 1: most of the thirty billion dollar US chicken industry engaged

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Speaker 1: in a price fixing scheme, and of course that consumers

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Speaker 1: pay more like about fifty percent more so. What happened today, though,

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Speaker 1: was pivotal analyst Tim Raymie wrote in a note uh

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Speaker 1: that he wasn't alleging that Tyson colluded on pricing. Quote

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Speaker 1: the narrative of this suit fits the fact pattern of

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Speaker 1: poultry pricing and margins over the past seven years. Uh.

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Speaker 1: If so, If it's true, it explains why Tyson can

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Speaker 1: offer earnies for share guidance with a market but precision

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Speaker 1: boasting of margins at record levels and well into the future.

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Speaker 1: The Tyson of Old did not provide guidance. All right,

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Speaker 1: It's time now for the Volatility Index Report. It is

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Speaker 1: brought to you by cbo E VIX Options and Futures.

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Speaker 1: Futures c disclosures. Learn more at cbo e dot com

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Speaker 1: Slash Powerful Outcomes VIX. The VIX moving higher today, advancing

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Speaker 1: more than three and a half percent, a gain of

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Speaker 1: zero point for eight, settling a thirteen point three four

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Speaker 1: and today's increase breaks a to day a two session

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Speaker 1: move lower for the volatility Index GAP. Now get oh boy,

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Speaker 1: take us back. In nineteen seventies, Joe Cioley the original

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Speaker 1: GAP jingle because Gap actually a pretty good day they did, uh,

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Speaker 1: and it came largely on the shoulders of Old Navy

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Speaker 1: actually UM one of their one of the brands there. Uh.

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Speaker 1: They reported UM same source sales gained about four percent

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Speaker 1: in September. That was way more than an analysts projected

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Speaker 1: they were seeing growth of less than one percent. So

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Speaker 1: that was a huge beat for a pretty crucial part

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Speaker 1: of of the gap business. And it was actually a

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Speaker 1: pretty important, you know, tail win for the company. Who's

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Speaker 1: who's had some struggles lately, UM, most notably in August

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Speaker 1: when there was a fire at one of their distribution

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Speaker 1: centers in Fishkill, Uh, fish Kill in New York. And UM,

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Speaker 1: you know, the stock is was up about fift today. Uh,

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Speaker 1: it's it's trading in about twenties six dollars. That's UM,

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Speaker 1: you know, obviously a great improvement, but it's still hasn't

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Speaker 1: climbed back above the multi month high it reached in August.

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Speaker 1: So still trying to clause way back from that fire.

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Speaker 1: But Old Navy, you know, doing its part too to

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Speaker 1: drag drag shares higher. Thank you very much, Bloomberg Stocks

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Speaker 1: reporter telling us about his stock of the day. Gap.

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Speaker 1: You're listening to taking Stock. I'm pim Fox my co

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Speaker 1: host Kathleen Hayes. This is Bloomberg Lumber. Taking Stock is

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Speaker 1: brought to you by Withem Smith and Brown c P

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Speaker 1: as audit, tax, and advisory services, helping you in your

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Speaker 1: business to be in a position of strength. Experienced the

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Speaker 1: Withem Way by visiting withem dot com.