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Speaker 1: Global business News twenty four hours a day's Bloomberg dot

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Speaker 1: Com the radio plus Globo Lack and on your radio,

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Speaker 1: this is a Bloomberg Business block. The sound of the

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Speaker 1: closing bett of the New York Stock Exchange as we

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Speaker 1: we wrap up trading on this Thursday two ninth, Folks

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Speaker 1: from Army Week Association ringing closing bell, and we're brought

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Speaker 1: to you by Ancient Block and Ancient named the best

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Speaker 1: accounting firm in North America for the sixth year in

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Speaker 1: a row by Hedge Week, dot com S and P

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Speaker 1: five hundred Index lower today down two tenths of one percent,

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Speaker 1: dropping three points to holding near a ten month high

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Speaker 1: as investors evaluate the gauges run toward a record amid

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Speaker 1: ongoing concerns about the impact of lackluster global growth. Equities

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Speaker 1: did stage an afternoon rebound as raw material producers and

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Speaker 1: banks trim losses, while defensive shares including utilities and phone

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Speaker 1: companies rallied to offset those declines. The Dow down nineteen points,

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Speaker 1: down one tenth of one percent, to seventeen thousand, nine

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Speaker 1: eighty five, and has stacked down three tenths of one percent,

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Speaker 1: falling sixteen points to the tenure up seven thirty seconds,

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Speaker 1: with the yield of one point six seven percent. Gold

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Speaker 1: advanced nine fifty ounce to twelve seventy one, up eight

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Speaker 1: tenths of one percent. A person familiar with the matter

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Speaker 1: says billionaire investor George Soros has become more involved in

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Speaker 1: trading in his family office, concerned about the outlook for

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Speaker 1: the global economy and the risk that large market shifts

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Speaker 1: maybe at hand. Don Steambruge is managing partner at age

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Speaker 1: Croft Partners. Huge news because he hasn't really been active

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Speaker 1: in managing money for a long time. He's one of

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Speaker 1: the greatest hedge fund managers of all time. A lot

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Speaker 1: of people respect what he has to say. It's also

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Speaker 1: great that he's in his mid eighties and he's getting

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Speaker 1: back in voft and according to a government filing, Soros

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Speaker 1: Fund Management sold stocks and bought gold and shares of

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Speaker 1: gold miners last quarter, anticipating weakness in various rickets. As

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Speaker 1: we mentioned, gold up today by nine fifty the ounce,

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Speaker 1: advancing eight tenths of one percent. Crude down one. It

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Speaker 1: fell sixty seven cents fifty dollars fifty six cents a barrel.

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Speaker 1: It is four O two on Wall Street. Now, let's

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Speaker 1: take a look at the other stories from around the world. Charlie,

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Speaker 1: Thank you. From the Bloomberg news Room by Mark Crompton.

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Speaker 1: President Clinton today officially endorsed Hillary Clinton. In a video

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Speaker 1: posted to Mrs Clinton's Twitter account, the President said, quote,

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Speaker 1: I don't think there's ever been someone so qualified to

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Speaker 1: hold this office. End quote. White House Friends Secretary Josh

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Speaker 1: Ernest called Mrs Clinton an important architect of many of

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Speaker 1: the early policy decisions President Obama had to make. He

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Speaker 1: chose to have Secretary Clinton by his side for the

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Speaker 1: first four years of his presidency as he was making

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Speaker 1: difficult decisions that had enormous consequences for the United States

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Speaker 1: and our citizens. Earlier, the President met with Senator Bernie Sanders,

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Speaker 1: who was promising to stay in the race, just by

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Speaker 1: growing pressure for him to drop out. Muhammad Ali's battles

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Speaker 1: outside the boxing ring are being remembered today. At a

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Speaker 1: Muslim prayer service for Ali in his hometown of Louisville, Kentucky,

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Speaker 1: the Reverend Jesse Jackson talked about how ali Font prejudice

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Speaker 1: eliminated the dog with the louis But here's the guy

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Speaker 1: the gold medal couldn't buy Hamburger Downtown. Here's the guy

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Speaker 1: who rebelled against the treat of Horse is about the

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Speaker 1: track the young Black children. An interfaith service for the

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Speaker 1: seventy four year old Ali will take place in Louisville tomorrow.

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Speaker 1: Manhattan apartment landlords are entering the prime leasing season, and

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Speaker 1: they're boosting incentives to lure tenants. The surge of new

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Speaker 1: supplies giving runners more choices and the chance to bargain

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Speaker 1: deal sweet. There's like a month of free rent or

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Speaker 1: payment of broker fees were included intent of new leases

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Speaker 1: in May. A report by a praiser Miller Samuel and

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Speaker 1: brokerage Douglas Elman Real Estate says that's up from one

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Speaker 1: point six percent from a year earlier. Global News twenty

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Speaker 1: four hours a day, powered by our journalists in more

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Speaker 1: than one fifty news bureaus around the world. From the

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Speaker 1: Bloomberg News Room, I'm Mark Crumpton, Charlie, and we thank you.

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Speaker 1: And the Slate breaking story cnna's reporting that Massachusetts Senator

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Speaker 1: Elizabeth Warren will endorse Hillary Clinton tonight again. Recapping a

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Speaker 1: move floor for US equities S and P five hundred

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Speaker 1: index down three a drop there of two tenths of one.

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Speaker 1: I'm Charlie Palatine. Dance of Bloomberg business flash, move around motion,

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Speaker 1: great emotions at the elite move you move like they do.

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Speaker 1: I've never seen anyone move that back. Five people's move

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Speaker 1: like to get a purpose. That was called movers and shakers.

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Speaker 1: They cost a little more, and that name cracked me up.

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Speaker 1: Bloomberg taking stock movers and shakers with pimple ox and

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Speaker 1: Kathleen Hay's on Bloomberg Radio. Stocks dropping a little bit today,

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Speaker 1: and when you look inside the SMP five hundred you

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Speaker 1: can see that, yes, then the market definitely tilted towards

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Speaker 1: the downside, but not by a big, big margin. Two

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Speaker 1: nine companies saw their share prices closed higher, two hundred

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Speaker 1: and ninety three lower, three unchanged. So when you look

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Speaker 1: beneath those numbers, which really moving and shaken. Here to

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Speaker 1: kick it off is their own stocks. Editor Dave Wilson

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Speaker 1: tell one stock that was moving and shaken today is

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Speaker 1: jam Smucker. They were the one company in the SMP

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Speaker 1: five hundred that reported earnings before the opening bell. You

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Speaker 1: know them for their jams and jellies, and they make

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Speaker 1: peanut butter and coffee and a whole lot of other

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Speaker 1: food products. Well. Actually, the coffee business treated them well

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Speaker 1: in their latest quarter, of their fiscal fourth quarter UH.

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Speaker 1: They were able to pay lower prices for coffee beans

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Speaker 1: and that helped the company report earnings and revenue that

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Speaker 1: beat analysts average estimates in the Bloomberg Servey. Put that

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Speaker 1: all together, James Smucker with a gain of almost eight percent.

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Speaker 1: It was the biggest for the stock in about seven years,

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Speaker 1: and Smucker shares traded a record today. I was thinking

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Speaker 1: coffee when I think of James Smucker now, not just

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Speaker 1: peanut butter, but coffee. Very big coffee business. Let me

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Speaker 1: tell you about the shares of Apple higher today by

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Speaker 1: three quarters of a percent. Apple shares closing at nine

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Speaker 1: and sixty five cents UH. Store updates at Apple. This

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Speaker 1: has to do with the app store, not the retail store.

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Speaker 1: The app store has one point nine million applications, so

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Speaker 1: when you click that button, there's a potential you can

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Speaker 1: end up in nearly two million applications. And that's been

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Speaker 1: an issue because something like with the top one percent

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Speaker 1: of all the publishers collect of the nearly one and

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Speaker 1: a half billion dollar revenue. Well, Apples looking to change that,

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Speaker 1: and they're gonna be rolling out some new features to

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Speaker 1: let developers promote their applications through search results. And just

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Speaker 1: as a note, Apple's Worldwide Developers Conference begins in San

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Speaker 1: Francisco on Monday, that's the thirteenth, and run until the seventeenth.

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Speaker 1: We will of course have top live blog and real

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Speaker 1: time covered. Shares of Apple up three quarters of a

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Speaker 1: percent today. How do you feel about LinkedIn? Well, if

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Speaker 1: you're a part of a survey done by Mark Mahaney

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Speaker 1: over at RBC Capital Markets, you probably said you feel

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Speaker 1: pretty good. Mark does this regularly. He surveyed tune or

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Speaker 1: ninety recruiting professionals in the US found that forty of

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Speaker 1: LinkedIn customers plan to increase their spending on LinkedIn over

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Speaker 1: the next twelve months. He found seventy eight percent of

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Speaker 1: customers described themselves as completely or extremely or very satisfied,

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Speaker 1: and as a result, he has upgraded his call on

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Speaker 1: the stock from sector perform to outperform, raised his price

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Speaker 1: target to a bullish hundred sixty bucks per share. Linked In,

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Speaker 1: even though there are some analysts who still doubt its prospects,

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Speaker 1: closing up two percent today at a hundred thirty six

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Speaker 1: dollars in change. Dave, this was not a day to

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Speaker 1: be in the home furnishings retailing business. And it's all

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Speaker 1: Restoration Hardware's fault. You know. They came out with an

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Speaker 1: unexpected loss for the fiscal first quarter, forecast for their

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Speaker 1: second quarter and full year year failed to meet analysts estimates,

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Speaker 1: and and and Restoration Hardware with a loss of more

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Speaker 1: than twenty one percent in today's trading. In the stocks

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Speaker 1: they took down bed Dath and diond down three point

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Speaker 1: four percent, Williams Sonoma down five and a half percent,

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Speaker 1: Pier One down eight percent. So not a good day

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Speaker 1: for that industry in light of Restoration Hardware's earnings. Activision

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Speaker 1: Blizzard up more than one percent today of the announcement

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Speaker 1: that the launch of Destiny Rise of Iron will be

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Speaker 1: on September. They will be available for PlayStation four systems

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Speaker 1: as well as Xbox the One. Also, they can look

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Speaker 1: at Activision just to note if you're in California next

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Speaker 1: week or interested to be so. June fourteenth, at the

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Speaker 1: l A Convention Center will be the Electronic Entertainment Expo

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Speaker 1: and Activision will be showcasing Call of Duty Infinite Warfare, Destiny,

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Speaker 1: Rise of Iron and Skylanders Yeah Who up today by

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Speaker 1: about one percent to thirty seven dollars and thirty five

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Speaker 1: cents to share. CNBC reporting that Yah whose core business

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Speaker 1: value might be worth much more than what others have expected.

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Speaker 1: Apparently here they're reporting on multiple bids in excessive five

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Speaker 1: billion dollars as part of the now closed second round

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Speaker 1: of bidding. And of course, earlier this week, the Wall

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Speaker 1: Street Journal reported the Verizon always seen as the most

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Speaker 1: likely buyer for y'all, whose core business throughout this sales

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Speaker 1: process had been just three billion dollars for y'all whose

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Speaker 1: core web assets, PAM, thank you very much. All right,

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

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

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Speaker 1: can be harnessed with cbo E VIX Options and Futures

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Speaker 1: CEE disclosures. Learn more at cbo E dot com Slash

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Speaker 1: Powerful Outcomes VIX. The VIX higher today by about three

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Speaker 1: and a half percent, up point four nine, settling at

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Speaker 1: fourteen point five seven. Now, despite today's move higher, this

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Speaker 1: so called fear index has downshifted in recent weeks after

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Speaker 1: a moderate rise in mid May. Short term momentum indicators

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Speaker 1: suggest continued weakness for the VIX, as well as those

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Speaker 1: short term e t ns with long positions on the

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Speaker 1: volatility Index. All right, Dave here, uh hi, my name

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Speaker 1: is Dave. Just what do you think you're doing things?

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Speaker 1: We're going for the price will Dave? Dave forty nine

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Speaker 1: million dollars share sale and a stock price the fill today.

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Speaker 1: Tell us about Tesco day. Absolutely, you know, Kathleen, the

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Speaker 1: meeting of the name Tesco depends on which side of

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Speaker 1: the Atlantic. Uron pens not in his head in agreement.

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Speaker 1: He's been in the UK. He knows that Tesco is

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Speaker 1: among the country's largest grocery chains. And by the way,

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Speaker 1: Warren Buffetts Berkshire half Away had a stake in that company,

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Speaker 1: at least for a while now. The US Tesco rents

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Speaker 1: oil field equipment. It's based in Houston. Company has been

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Speaker 1: publicly traded since at least it's listened under the ticker

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Speaker 1: t E s O. That's Tesco without this see now.

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Speaker 1: Tesco share price tends to track the up and down

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Speaker 1: of oil prices. A month ago, though they went their

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Speaker 1: separate ways after the company's physical third quarter results were disappointing.

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Speaker 1: The stock dropped as much as fifteen percent in the

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Speaker 1: days after the numbers came out. Now even so Tesco

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Speaker 1: raised that forty nine million dollars yesterday by selling the

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Speaker 1: equivalent of a fifteen percent stake, the sale price was

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Speaker 1: eleven percent less than yesterday's close, and the stock couldn't

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Speaker 1: make up the gap in today's trading. In fact, it

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Speaker 1: closed almost exactly at the price at which the share

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Speaker 1: sale took place seven dollurs. Stock closed at seven oh four.

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Speaker 1: That works out to weight loss of almost eleven percent.

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Speaker 1: Bigasines January of last year. Thank you very much, Dave Wilson,

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Speaker 1: Bloomberg Stocks, Thomas go ahead. You can send him an

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Speaker 1: email at d Wilson at Bloomberg at dot net. Sign

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Speaker 1: up for his daily pre email newsletter. It will help

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