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Speaker 1: Global business news twenty four hours a day at Bloomberg

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Speaker 1: This is a Bloomberg Business flag from Bloomberg World Headquarters.

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Speaker 1: A sign Charlie Pelt a mixed picture for stocks. LED's

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Speaker 1: head right over to the first Word Breaking news desk

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Speaker 1: for today's afternoon call, and here he is Bill Maloney.

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Speaker 1: Good afternoon, Charlie. Down SMP are quiet today, with the

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Speaker 1: Dow currently lowered by thirteen points, smps are hired by

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Speaker 1: five and NASA gains twenty seven. Small cap six hundreds

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Speaker 1: higher by three points, and the US ten NIEL falls

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Speaker 1: to one point seven five per cent. Six out of

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Speaker 1: tenni SB sectors are higher, led by gains in healthcare,

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Speaker 1: consumer staples and the utilities. Energy, materials and the industrials

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Speaker 1: led to the downside down Transports rise twenty seven and

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Speaker 1: as a biotechs outperform gained seventy six and the VIX

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Speaker 1: is lower by two point six percent. Down Leaders to

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Speaker 1: the upside included Walmart, Fiser and Mark. Caterpillar led to

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Speaker 1: the downside following three point two percent. Joy Global fell

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Speaker 1: as much as eighteen percent. Freeport mcmah dropped ten percent. Well,

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Speaker 1: Malcrocht gains six percent After Friday seven percent decline. Live

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Speaker 1: on the first breaking news task on Bill Maloney, Charlie,

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Speaker 1: all right, thank you very much, Bill Maloney. We are

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Speaker 1: brought to you today by Bentley University. What do rebooting

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Speaker 1: America's oldest ski shop and crunching numbers a vis to

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Speaker 1: print have in common? An NBA from Bentley University. The

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Speaker 1: prepares graduates to innovate and lead because business is everywhere.

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Speaker 1: Prepare here and again to hear live breaking news over

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Speaker 1: your Bloomberg tipe squawk. Ask you you a WK on

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Speaker 1: your terminal. I'm Charlie Pendleton. That's a Bloomberg business splash.

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Speaker 1: You're listening to Taking stock with Kathleen and Pim Fox

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Speaker 1: on Bloomberg Radio. Wagering from all of the sources. On

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Speaker 1: Saturday's Kentucky, a Derby Day program the second highest in

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Speaker 1: history to totaling one hundred and ninety two million dollars

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Speaker 1: to help us understand what what what went on on

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Speaker 1: Saturday and also can look ahead to the twenty one

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Speaker 1: of the month. The running of the Preakness is David Papadopoulos.

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Speaker 1: He is a managing editor here at Bloomberg News and

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Speaker 1: David tell us all about the Kentucky Derby. How do

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Speaker 1: you sum it up and tell us what you came

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Speaker 1: away with? Well, for starters, some of that money that

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Speaker 1: record handled, there was unfortunately my money that was burnt

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Speaker 1: at the window. But um, you know, the winner, I

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Speaker 1: would say Nyquist was extremely impressive. I mean he is

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Speaker 1: now perfect eight for eight um, and he looked honestly

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Speaker 1: like a winner every step or every step around the

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Speaker 1: race track. And what what makes his victory even more

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Speaker 1: impressive than the one length victory it was in the end,

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Speaker 1: was that he was on top of a very very

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Speaker 1: fast early pace. They were flying up front. He was

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Speaker 1: right on top of that pace, and while most of

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Speaker 1: the horses around him collapse in exhaustion, cleaning the horses,

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Speaker 1: I bet on he kept going on and and he

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Speaker 1: won with something left in the tank. I mean, if

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Speaker 1: you look, most and most of the horses that surrounded

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Speaker 1: him at the end near the finish line early on

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Speaker 1: in the race, they were in fifteen thirteen, nineteen, twelve, eighteen.

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Speaker 1: So you know that tells you that you know, he

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Speaker 1: didn't you know, an awful lot of running early and

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Speaker 1: had a lot left like, what what does what does

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Speaker 1: this say about the pedigree the California Uh Quoti. Well,

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Speaker 1: what I would say is this is they're gonna have

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Speaker 1: to Uh I think they're name that people so you

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Speaker 1: get the full flavor. Well, so, um, this is now

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Speaker 1: the fourth time in five years that the winner has

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Speaker 1: not been bred in California but has been based in California.

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Speaker 1: It's the California Mafia between Doug O'Neal, this trainer here,

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Speaker 1: and Bob Bafford and some others. Um and they've really

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Speaker 1: kind of taken this race over. I call it the

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Speaker 1: California Derby. Now, last year the California horses ran one

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Speaker 1: two three in this race. This year they ran first second,

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Speaker 1: um And the and the story itself is trying to

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Speaker 1: figure out what exactly why this trend has suddenly popped up.

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Speaker 1: It could just be tyranny of small data, could just

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Speaker 1: be some random event. Uh. The only thing that people

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Speaker 1: can come up with is, you know, the weather is

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Speaker 1: perfect year round in cow in California where they train,

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Speaker 1: and maybe that helps these horses stay in a regular

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Speaker 1: training regimen. But it's uh, it's become a something of

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Speaker 1: a phenomenon all of a sudden. Any other horses come

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Speaker 1: away from Derby Day with their reputations in half well

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Speaker 1: the second listen, they're only uh. In addition to nike

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Speaker 1: Quist going onto the Preakness in two weeks only a

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Speaker 1: couple other horses, apparently from the Derby are going to

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Speaker 1: go onto the Preakness. Exaggerator the second place finisher, the

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Speaker 1: the other California horse, and then the Japanese Japanese owned

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Speaker 1: horse Lonnie will go on. Exaggerator ran a very good race,

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Speaker 1: uh to come in second. He got a terrific setup.

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Speaker 1: I mean he was coming. He was way way out

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Speaker 1: of it early. And and that's where you want to

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Speaker 1: be when they're going as fast as they were. And

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Speaker 1: they did the opening quarter mile to give you an

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Speaker 1: idea in about twenty just over twenty two seconds. They

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Speaker 1: did the last as quarter mile in about twenty six seconds,

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Speaker 1: So I'll give you an idea of how much you

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Speaker 1: know they were tiring up front. Uh, And and so

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Speaker 1: Exaggerated was in the place to be. He was way

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Speaker 1: out of it early, and he came he came running late. Um,

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Speaker 1: he but he ran respectably enough. He's gonna try nike

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Speaker 1: Wist in the Preakness um. But for the most part,

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Speaker 1: most everyone's been scared off by by Nike wist Um.

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Speaker 1: It's a distinct possibility. It took a thirty seven years

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Speaker 1: to get a triple Crown winner last year, it's not

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Speaker 1: impossible we get back to back triple Crown winners. He's

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Speaker 1: a standout horse. It's becoming clear every day and and

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Speaker 1: in a group of three year olds that's just maybe

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Speaker 1: just okay uh, And that's often a formula to get

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Speaker 1: a triple Crown winner. Um and uh. He's also he's

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Speaker 1: gonna be He's gonna be very, very valuable because he

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Speaker 1: is winning big races and he is the son of

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Speaker 1: a young sire that is suddenly pretty much almost the

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Speaker 1: hottest young sire in all of Kentucky, and so being

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Speaker 1: an offspring of that red hot sire in Kentucky is

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Speaker 1: going to make him a very, very valuable animal in

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Speaker 1: the breeding shed. Fourteen entrants into the Preakness that they

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Speaker 1: do a maximum fourteen and they may get enough money

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Speaker 1: at Churchill, which to my mind is really too many

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Speaker 1: because he creates a lot of chaos, But fourteen would

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Speaker 1: be the maximum, and they may wind up getting a

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Speaker 1: number close to fourteen. But you tend to get a

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Speaker 1: lot of local horses from the Maryland area that are

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Speaker 1: just kind of okay. But when in terms of when

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Speaker 1: you look at real, real good horses challenging Nike was,

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Speaker 1: I don't know that it's gonna be a huge field. Listen.

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Speaker 1: He's gonna be an enormous favorite in the Preakness. I mean,

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Speaker 1: if he was two to one on Kentucky Derby Day,

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Speaker 1: he could be one to two or two to five

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Speaker 1: in the Preakness. Meaning if you bet five, you bet

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Speaker 1: five for a chance to win two. And we do

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Speaker 1: have a sing at the race track, which is him.

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Speaker 1: If you already got the five, you don't need the two.

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Speaker 1: So uh, but he'll be a big favorite. And and

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Speaker 1: you know, honestly, I can't tell you right now, I

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Speaker 1: see him getting beat. If he runs his race, he wins.

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Speaker 1: I mean there's no doubt about that. And he's got

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Speaker 1: the strength, as you say, to carry that all the

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Speaker 1: way through to the finish. He's been really impressive. I mean,

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Speaker 1: he was really impressive in this race. And then last

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Speaker 1: fall he was in this situation where he was in

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Speaker 1: you know, in an impossible spot and he just kind

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Speaker 1: of kept down running. Thank you very much for spending

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Speaker 1: time with us. David Papantopholis, Managing editor a Bloomberg News

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Speaker 1: everything about force racing, and of course he'll be joining

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Speaker 1: us as we get closer to the twenty one of

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Speaker 1: May for the freefness at Pimlico in Bollspore. This is

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Speaker 1: Bloomberg Radio. Bloomberg Taking Stock is brought to by New

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