WEBVTT - Closing Bell: Nike Slips, Target Hospital Soars, Intel Jumps

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This is the closing bell on the stock movers report

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<v Speaker 2>the company's making moves at the close of US trading,

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<v Speaker 2>with Carol Masser, Tim stenovek Romain Bostik, and Katie Greyfell.

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<v Speaker 3>All right, let's get to some of the individual gainers,

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<v Speaker 3>if I may, in today's session. So let's look at

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<v Speaker 3>some of the stocks that actually were momentum performers as

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<v Speaker 3>of late.

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<v Speaker 1>And so take a look.

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<v Speaker 3>You've got Western Digital, a high flyer last year, up

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<v Speaker 3>another ten percent. You also had Seagate Technology that was

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<v Speaker 3>up eight percent in today's session. You have Micron up

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<v Speaker 3>almost nine percent. That was another one that gained almost

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<v Speaker 3>two hundred and forty percent last year. And so just

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<v Speaker 3>looking through some of the right through, especially when it

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<v Speaker 3>comes to something like Western Digital and a few others.

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<v Speaker 3>I did see a note by Evercore II actually was

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<v Speaker 3>I think Investor's Business Daily pointing this out. We believe

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<v Speaker 3>AI driven data demand remains fundamentally robust, providing a durable

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<v Speaker 3>tail wind for the HDD market. Again, this is Evercore

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<v Speaker 3>ISI writing in a note today. Crucially, the transition from

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<v Speaker 3>AI training to inference could create a structural opening for HDDs,

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<v Speaker 3>So nonetheless, I don't know momentum players getting some love

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<v Speaker 3>on this Wednesday also getting love Intel This too was

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<v Speaker 3>top in the S and P five hundred and the

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<v Speaker 3>Nasdaq one hundred, again of just shy of nine percent.

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<v Speaker 3>The chipmaker greed to pay fourteen point two billion to

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<v Speaker 3>buy back half of a plant in Ireland, DA Davidson

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<v Speaker 3>writing that the move bodes well for the company's turnaround story.

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<v Speaker 3>Transaction financed with cash on hand and the issuance of

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<v Speaker 3>about six and a half billion dollars in new debt.

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<v Speaker 3>It is expected to add to the chip maker's earnings

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<v Speaker 3>per share and kind of reflects Intel's growing confidence in

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<v Speaker 3>its business and it's belief that its products can play

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<v Speaker 3>a bigger role in the boom and spending on AI infrastructure.

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<v Speaker 3>You probably don't do a deal like that unless you

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<v Speaker 3>have some confidence that year outlook. And then here's an

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<v Speaker 3>interesting AI data center play, kind of unexpected. THH is

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<v Speaker 3>the ticker the company's target hospitality up about thirty six

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<v Speaker 3>percent there staring as much as forty three percent intra day.

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<v Speaker 3>It's a one point two billion dollar market cap provider

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<v Speaker 3>of workforce, lodging and hospitality services, and they secured a

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<v Speaker 3>multi year contract worth over five hundred and fifty million

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<v Speaker 3>dollars to construct and provide comprehensive facility and hospitality services

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<v Speaker 3>for a top five hyperscalers data center development in North Texas.

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<v Speaker 3>So I guess they're going to be providing food and lodging.

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<v Speaker 4>You got to feed the data center.

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<v Speaker 2>Let's go to We've.

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<v Speaker 3>Talked to workplace our housing people right who are doing

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<v Speaker 3>workplace housing where like all this stuff is going on

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<v Speaker 3>because workers need places to live. Anyway, there you go,

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<v Speaker 3>big big mover.

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<v Speaker 4>Had you had a lot of gainers to choose from.

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<v Speaker 4>I had some decliners that stayed in the red all

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<v Speaker 4>day today, which is great. I do want to start

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<v Speaker 4>with shares a Nike falling today by more than fifteen percent.

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<v Speaker 4>Late yesterday, the company gave this gloomy outlook for the

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<v Speaker 4>year ahead. Revenue expected to decline two to four percent

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<v Speaker 4>in the current quarter. Headwinds include all the stuff that

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<v Speaker 4>we've talked about for years at this point, elevated inventories

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<v Speaker 4>in Europe, in the Middle East, weakness in Greater China.

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<v Speaker 4>Ni You CEO Elliott Hill said, the direction is clear

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<v Speaker 4>and the foundation is getting stronger, but acknowledged that parts

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<v Speaker 4>of the turnaround are taking longer than expected. We got

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<v Speaker 4>a great story on the Bloomberg, lillly Meyer writing it

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<v Speaker 4>up about getting a recording of a call that Elliott

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<v Speaker 4>Hill had with staff yesterday and really trying to rally

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<v Speaker 4>the troops, given that shares of this company are at

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<v Speaker 4>lowe's not seen in more than a decade at this point,

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<v Speaker 4>so trying to get some excitement and trying to get

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<v Speaker 4>them to win, and also expressing his own frustration.

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<v Speaker 2>Yeah, that was a.

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<v Speaker 1>Great piece of reporting. I mean, if you have to

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<v Speaker 1>imagine that, you know, if you're constantly in a state

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<v Speaker 1>of turnaround and it doesn't seem like it's getting traction,

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<v Speaker 1>especially when you take a look at the share price,

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<v Speaker 1>that has to be a pretty killer for morale of

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<v Speaker 1>the employees at that company.

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<v Speaker 5>Well, also, Tim, were you what shoes were you wearing

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<v Speaker 5>in October twenty four fourteen, the last time.

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<v Speaker 2>The stock was this low?

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<v Speaker 4>I don't even remember, good what was I don't even know, Like,

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<v Speaker 4>what were they? I don't even know, Bailey, what were

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<v Speaker 4>the nikes in twenty fourteen?

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<v Speaker 1>I'm trying to think.

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<v Speaker 5>I was probably in college. I was in college. He

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<v Speaker 5>was also in college, so that was probably I wore

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<v Speaker 5>spare in advance.

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<v Speaker 4>That's another two out of you too. All right, we're

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<v Speaker 4>going to keep going here. What else do we got

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<v Speaker 4>on the decliner's menu today? How about a little more retail.

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<v Speaker 4>Let's talk about our age. The company, formerly known as

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<v Speaker 4>Restoration Hardware Ships felt today by more than nineteen percent.

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<v Speaker 4>They were down as much as twenty three percent. They

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<v Speaker 4>closed at their lowest levels going back to April of

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<v Speaker 4>twenty twenty. Remember what happened then was we were in

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<v Speaker 4>the demand shock of the COVID pandemic. We're in the

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<v Speaker 4>depths of that. The company forecast revenue for their first

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<v Speaker 4>quarter that missed the average analyst estimate. Analysts out and

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<v Speaker 4>said that the forecast was pressured by execution supply chain disruptions. Also,

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<v Speaker 4>an interesting note from an analyst over a City said

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<v Speaker 4>the company lags peers in the home furnishings industry, and

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<v Speaker 4>it also reflects a weaker European consumer demand environment. It'll

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<v Speaker 4>be interesting to hear from more companies as we do

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<v Speaker 4>get into the next quarter. Like I don't know the

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<v Speaker 4>banks in a couple of weeks about what the demand

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<v Speaker 4>environment is looking like in the United States. And finally,

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<v Speaker 4>how about some French fries or potatoes that go to

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<v Speaker 4>French fries. This is a Lamb Weston Holdings. They make

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<v Speaker 4>frozen French fries from potatoes.

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<v Speaker 5>Biggest customer McDonald's, Right, I had McDonald's for lunch.

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<v Speaker 1>I tried that.

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<v Speaker 4>The biggest customers making Grace shares felt to the lowest level.

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<v Speaker 4>Going back to twenty seventeen, the company's full your forecast

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<v Speaker 4>implied weaker than expected fourth quarter performance. They don't have

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<v Speaker 4>your Did you get fries with that daily?

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<v Speaker 1>I did?

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<v Speaker 5>I got a medium fried. It was like five bucks, though,

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<v Speaker 5>But I will say I tried the Arch. It's a

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<v Speaker 5>ten dollars burger worth every penny it was.

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<v Speaker 1>Was that the one that the COEO eight.

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<v Speaker 4>I was just gonna say, should do an Instagram video

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<v Speaker 4>about it? Basy next time?

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<v Speaker 1>Maybe next time I'll do it.

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<v Speaker 5>Tim.

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<v Speaker 4>I'll get you one too, Thank you.

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<v Speaker 1>Beautiful Tim. I don't know if he would eat an Arch.

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<v Speaker 1>It doesn't seem like I had Chick fil A for

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<v Speaker 1>the third day in a row. No one asked, but

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<v Speaker 1>I'll tell you anyway. Let's talk about the bond market

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<v Speaker 1>and what happened there. It was pretty quiet. Once again,

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<v Speaker 1>you're seeing fireworks to the upside when it comes to

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<v Speaker 1>the equity market. Can't say the same for the bond market.

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<v Speaker 1>It's been kind of nonplus over the past two days.

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<v Speaker 1>But nevertheless, the two year treasure yield, which barey highlighted earlier,

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<v Speaker 1>arising CI about one basis point here, But then you

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<v Speaker 1>take a look at the rest of the curve and

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<v Speaker 1>there you go. The twenty year yield now unchanged as well,

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<v Speaker 1>in addition to the thirty year yield, and I think

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<v Speaker 1>you can go ahead and call the ten year treasure

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<v Speaker 1>yield unchanged as well, though we are looking at fairly

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<v Speaker 1>high absolute levels.

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<v Speaker 3>Two quarter pound, four ounds, one hundred percent beef patties.

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<v Speaker 5>That's March.

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<v Speaker 3>That's a lot of beef.

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<v Speaker 5>It's over one thousand calories, so I kind of felt

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<v Speaker 5>a little bloated, but I walked around.

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<v Speaker 3>They say it's thirteen heavy.

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<v Speaker 1>Nothing like eating one thousand calories and then going on air.

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<v Speaker 3>Oh, we can't talk about twelve metris Okay, I guess

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<v Speaker 3>we can't talk about twelve metric tons of stolen Kitcat bars.

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<v Speaker 3>Speaking of maybe we save it for tomorrow ahead of

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<v Speaker 3>a big meal the holiday weekend.

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<v Speaker 1>A lot of kickats going to be eaten over Easter weekend.

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<v Speaker 2>And then sum This stockmover's report from Bloomberg Radio. Check

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<v Speaker 2>back with us throughout the day for the latest roundup

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<v Speaker 2>of companies making news on Wall Street and for the

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<v Speaker 2>latest market moving headlines. Listen to Bloomberg Radio Live, catch

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