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Speaker 1: Bloomberg Business News twenty four hours a day at Bloomberg

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Speaker 1: dot COM's the Radio plus mobile and on your radio.

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Speaker 1: This is a Bloomberg Business Block from Bloomberg World Handquarters.

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Speaker 1: I'm Charlie Pellett. Sound of the closing bell of the

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Speaker 1: New York Stock Exchange on this Friday, August six, and

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Speaker 1: it is on to the weekend. The group breaths across America,

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Speaker 1: ringing that closing bell. A losing week for stocks as

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Speaker 1: we move into the final trading week of August. SMP

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Speaker 1: five index on the week down seven tenths of one percent.

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Speaker 1: Today at the close, the SMP down three points to

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Speaker 1: one sixty nine, a drop of one tenth of one percent.

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Speaker 1: The Dow down fifty, a drop of three tenths of

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Speaker 1: one percent. The nastack Compositive Index down six to fifty

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Speaker 1: to eighteen, a gain of one tenth of one percent. Again,

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Speaker 1: n STACK up six points, a gain of one tenth

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Speaker 1: of one percent. Both the Dow and the SMP ending

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Speaker 1: the Friday session lower stalks, slipping back into their three

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Speaker 1: week funk after erasing a rally. At one point, the

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Speaker 1: Dow was up more than one twenty points as comments

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Speaker 1: from Fed Reserve Vice chairman Stan Fisher boosted speculation interest

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Speaker 1: rates could rise as soon as next month. Heather Loomis

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Speaker 1: tag is market strategist for black Rocks Family Office. She

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Speaker 1: was interviewed moments ago right here on taking stock. You know,

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Speaker 1: from our perspective, we think a probability of September is

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Speaker 1: still fairly low, called eighteen to. We think the probability

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Speaker 1: of December is much higher, you know, a little bit

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Speaker 1: over fifty. The fundamentals are there to make a hike.

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Speaker 1: There's credibility on on the line as well. Well. Today

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Speaker 1: we did see an early rally FED chair Janet Yellen

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Speaker 1: saying the case to raise rates is getting stronger as

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Speaker 1: the US economy approaches the Central Bank's goals. The US

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Speaker 1: economy grew less than previously reported last quarter on slower

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Speaker 1: government outlets and a bigger depletion of inventories, capping a

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Speaker 1: sluggish first half performance prop up mainly by consumer spending again.

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Speaker 1: The ten year down thirteen thirty seconds, that yield one

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Speaker 1: point six two percent. Gold little change down thirty cents,

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Speaker 1: thirteen twenty vialance crude oil West Texas Intermediate little change

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Speaker 1: down two cents, forty one a barrel, and now a

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Speaker 1: look at the other stories making news. Charlie, Thank you

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Speaker 1: from the Bloomberg News roomy More Crumpton. The death toll

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Speaker 1: from the earthquake that hit central Italy this week is

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Speaker 1: now with two hundred seventy eight, more than nine hundred

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Speaker 1: after shocks if followed. Barbie Nade reports the tremors are

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Speaker 1: rattling residents and rescuers who are trying to find survivors.

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Speaker 1: Extremely strong after shocks. The one that registered four point

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Speaker 1: eight shook this area, shook a lot of this rubble, uh,

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Speaker 1: you know, really made things and comfromm For the people

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Speaker 1: who got out of these houses alive, those are the

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Speaker 1: types of things that they're having a hard time going to.

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Speaker 1: A state funeral will be held tomorrow and flags will

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Speaker 1: be flying at half staff on all public offices. Turkey

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Speaker 1: blames courteous militants for a suicide truck bombing in the

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Speaker 1: southeastern part of the country. The truck exploded outside a

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Speaker 1: police station, killing at least eleven officers. More than seventy

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Speaker 1: others were wounded. The United Nations warns about a sharp

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Speaker 1: increase in the number of refugee and migrant children stranded

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Speaker 1: in Greece in Geneva. Units of spokesperson Sarah Crowe says

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Speaker 1: the influx comes as Greece struggles through its own economic challenges.

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Speaker 1: Percent of those there are children, of which two thousand,

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Speaker 1: two hundred and fifty unaccompanied who are currently in Greece,

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Speaker 1: and of course the concerns for them heard, many tales

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Speaker 1: of distressing, tales of exposure to UH, to violence, to

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Speaker 1: you know, concerns around their exploitation and so on. Global

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Speaker 1: News twenty four hours a day, powered by more than

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Speaker 1: twenty six hundred journalists and analysts in over one d

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Speaker 1: twenty countries. I'm more Crumpton. This is Bloomberg, Charlie, and

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Speaker 1: we thank you. And one additional story to pass on.

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Speaker 1: St Jude says a short seller's claims are quote false

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Speaker 1: and misleading. St Jude chairs reversing earlier losses up two

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Speaker 1: tenths of one percent again recapping a down day of

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Speaker 1: down week SMP following three points today to end the

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Speaker 1: week of ste a drop of two tenths of one percent.

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Speaker 1: I'm Charlie Pelletts. That's a Bloomberg business flash move around

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Speaker 1: most to create themotion, a move like they do. I've

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Speaker 1: never seen anyone move that back time. People, let's move

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Speaker 1: like you've got a purpose. That was called movers and Shakers.

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Speaker 1: It costs a little more. That name cracked me up.

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Speaker 1: Bloomberg taking stock Move and Shakers with Pim Fox and

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Speaker 1: Kathleen As on Bloomberg Radio Movers and Shakers for Friday,

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Speaker 1: August the twenty six, Taking a look at the SMP,

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Speaker 1: five hundred, one hundred and eighty seven issues are higher today,

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Speaker 1: three hundred and twelve decline, and six remain unchanged. Joining

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Speaker 1: me now with Movers and Shakers is our own Bloomberg

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Speaker 1: Stocks reporter Anna Louise Jackson, Anna tell us what's going on?

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Speaker 1: Surett was an interesting day, uh, from a market perspective.

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Speaker 1: And then some individual stocks. One that I was watching

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Speaker 1: throughout the day was Charles Schwab. It was up most

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Speaker 1: of the day. It was down slightly earlier in the day,

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Speaker 1: but at the end of the day up one point

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Speaker 1: five percent, which is the most in a couple of

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Speaker 1: weeks almost And this is a stock that a lot

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Speaker 1: of people look at um for a signal on interest

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Speaker 1: rate expectations. So the fact that it was stronger stronger

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Speaker 1: all day is uh, sort of interesting given how much

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Speaker 1: the market moved around. All right, I'll tell you about

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Speaker 1: the rack Space Holding Hosting by Baker Pard. Rack Space

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Speaker 1: Hosting the shares up more than four and a quarter

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Speaker 1: percent today. Rack Space Hosting is a cloud computing provider.

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Speaker 1: It is being taken private by the private equity from

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Speaker 1: Apollo Global Management. The deal is worth four point three

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Speaker 1: billion dollars I. Rack Space provides cloud services to customers,

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Speaker 1: letting them use their remote service for data storage as

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Speaker 1: well as computing power. Once again, the shares of a

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Speaker 1: rack Space Hosting up more than four and a quarter

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Speaker 1: percent today. Well, then let me wait in on Auto

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Speaker 1: Desk gets up after it swung to a surprise second

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Speaker 1: quarter profit. It raised its full year forecast, its malice

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Speaker 1: weighing in on the quarter, and the shares got at

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Speaker 1: least one upgrade and number of price target increases. For example,

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Speaker 1: Cities Kenneth Wong rated A reiterated a neutral rating, but

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Speaker 1: raised his price target from sixty two bucks to sixty five.

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Speaker 1: Cohen and Companies Greg Moscow It's reiterated an outperform rating.

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Speaker 1: He raised his price to target Anna from sixty eight

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Speaker 1: dollars to seventy one, and then I can weigh in

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Speaker 1: on one that didn't do so well today, Alta Salon

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Speaker 1: and Cosmetics. Uh, it was the biggest decliner in the

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Speaker 1: SMP today, down six point one percent. The company issued

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Speaker 1: at third quarter outlook which was disappointing. UM and this

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Speaker 1: is the biggest decline daily decline for the stock since November. UM.

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Speaker 1: But this stock has been doing incredibly well this year.

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Speaker 1: It's up about thirty eight percent, and it's been marking

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Speaker 1: new highs, new all time highs along the way. So

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Speaker 1: this was a pretty big pullback for it. But the

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Speaker 1: stock has uh definitely been you know, one of the

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Speaker 1: better performers in the SMP this year. Already, another stock

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Speaker 1: pulling back today, shares of games Stop down more than

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Speaker 1: ten and a half percent. Games Stop, of course, the

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Speaker 1: video game retailer. It has been expanding into mobile phones

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Speaker 1: and collectibles. Never less, it posted second quarter sales that

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Speaker 1: missed analysts estimate, sales falling about seven and a half percent.

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Speaker 1: The company, based in Grapevine, Texas, said that because of

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Speaker 1: missing this they are going to of course try to

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Speaker 1: stem the decline in same store sales. They were projecting

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Speaker 1: a four to seven percent decline when newest stores are excluded,

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Speaker 1: and they dropped sharper than expected. They were down ten

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Speaker 1: and a half percent, as did the stock. It was

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Speaker 1: down more than ten and a half percent today. And

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Speaker 1: let me take a look at Auto Zone down two

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Speaker 1: point six percent. It's the biggest move in the stock

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Speaker 1: since February, nearly eight times. Uh it's industry group UM.

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Speaker 1: An analyst at Susquehanna Financial gave a new recommendation on

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Speaker 1: Auto Zone of neutral, assigning a price target of eight

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Speaker 1: ten dollars on August. The consensus is actually sixty three

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Speaker 1: dollars and sixty seven cents, and so this is a

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Speaker 1: kind of move for them. Today, I'll tell you about

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Speaker 1: Herbal Life. Shares of Herbal Life today down about two

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Speaker 1: and a quarter percent, And I guess you could call

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Speaker 1: us a tale of two billionaires in the sense that

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Speaker 1: Carl Icon has contacted Bill Ackman, a Persian square capital UH,

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Speaker 1: to perhaps sell his steak in Herbal Life. UH. Carl Icon,

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Speaker 1: of course having a more than billion dollar steak, and

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Speaker 1: Herbal Life shares once again. Shares of Herbal Life down

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Speaker 1: two and a quarter percent. Now it's time for the

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Speaker 1: volatility and next report brought to you by cbo EX

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Speaker 1: of people scratching their head over the fact that the

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Speaker 1: VIX has remained relatively tamed today it gained his point

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Speaker 1: one to a point to thirteen point seven five. Uh,

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Speaker 1: still waning below fourteen or rather low volatility reading Heather

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Speaker 1: Tigy loomas from have a loomis Tigy, I should say,

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Speaker 1: from a black rock here in Jackson Hole with me

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Speaker 1: today said, Uh, maybe the complacency around jan Yellen surprising

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Speaker 1: because so many people are waiting for her to rock

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Speaker 1: the markets in Jackson Hole today. Oh yes, raising their

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Speaker 1: glasses at craft Brew Alliance here to tell us more.

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Speaker 1: Anna Louise Jackson, Bloomberg News Stocks reporter Anna Louise, Well,

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Speaker 1: it's a Friday in the summer, and it's a nice

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Speaker 1: day in New York, So I mean this makes people

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Speaker 1: think of going out for a drink and uh. Craft

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Speaker 1: Brew Alliance is a small cap as company based in Portland.

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Speaker 1: It's the fifth largest craft brewing company in the US.

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Speaker 1: It owns brands like Red Hook Brewing, Widmer Brothers, ConA UM,

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Speaker 1: and the stock has moved thirty nine percent this week.

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Speaker 1: It's it's best week since August two thousand nine. And

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Speaker 1: really what was behind that is it has this distribution

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Speaker 1: agreement with Anheuser in BED and Heuser Busch in BEV,

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Speaker 1: and they extended that agreement through UM and basically, UH

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Speaker 1: that will you know, so that signal that that agreement

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Speaker 1: will continue. In addition, Anneuser Busch will take some additional

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Speaker 1: production in house for Craft brew Alliance, and the stock

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Speaker 1: shot up on that news. UM. There's also some speculation

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Speaker 1: that this is UH setting up the company for UM

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Speaker 1: a takeover, a possible takeover by Anheuser Busch. So big

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Speaker 1: week for this stock and trading out about twenty dollars

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Speaker 1: a share now. Our stocks correspondent Antelis Jackson joining us

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Speaker 1: in Bloomberg World headquarters in New York City. I'm Calfeine

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Speaker 1: Hayes alive in Jackson Hall of Kansas City. Fits IMPOSEYU

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Speaker 1: and former FIT Governor Randy Krasner is up next. Pien

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Speaker 1: Fox in New York. We're gonna keep it going right here.

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Speaker 1: This is Bloomberg. Bloomberg taking Stock is brought to by

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