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

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Speaker 1: dot com, the radio, plus mobil and on your radio,

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Speaker 1: He's a Bloomberg Business Flash from Bloomberg World Headquarters. I'm

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Speaker 1: Katherine Powdery And as that closing bell sounds, it finds

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Speaker 1: a down Industrial Average down six points at seventeen thousand four,

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Speaker 1: D SMP five foundered down four points at two thousand

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Speaker 1: forty eight, and as dacked down four points at sixty five. Well,

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Speaker 1: it wasn't up and down day on Wall Street. Stocks

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Speaker 1: fluctuating as investors await more clarity on the timing of

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Speaker 1: the Federal reserves, next increase in interest rates, and the

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Speaker 1: outlook for inflation. Hugh Johnson Chairman and Hugh Johnson adviser

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Speaker 1: says stocks won't know where to go until after next

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Speaker 1: month's Fed policy meeting. Everybody's looking for direction, and I

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Speaker 1: think the focus is primarily on what's the Federal Reserve

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Speaker 1: going to do in the month of June. I think

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Speaker 1: there's a very strong belief at the Federal Reserve is

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Speaker 1: likely to raise interest rates in June. We check the

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Speaker 1: markets every fifteen minutes, so drop for a fourth day.

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Speaker 1: The longest threat of declines in more than a month.

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Speaker 1: Producers in Canada work to resume operations after wildfires and

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Speaker 1: around continued to increase its exports. West Sex is intermediate

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Speaker 1: prude oil currently down twenty five cents of barrel half

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Speaker 1: a percent to forty eight sixteen spout goald down two

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Speaker 1: dollars eighty cents, announce of twelve fifty ten year treasury

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Speaker 1: of one thirty second with the yield of one point

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Speaker 1: a three percent. Among today's top business stories, there is

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Speaker 1: offering sixty two billion dollars to buy mont Santo, deepening

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Speaker 1: investor concerned that it will strain its finances. Their stock

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Speaker 1: dropped as a bunch of six percent in German trading,

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Speaker 1: extending losses since the potential deal was first revealed. Buying

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Speaker 1: Montsanto would allow Bearer to tap into growing demand at

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Speaker 1: a time when farmers in most loose productivity to feed

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Speaker 1: an estimated ten billion people globally by twenty fifty. Monsanto

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Speaker 1: shares at four point four percent to day to one

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Speaker 1: hundred five ninety nine. The SEC is said to be

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Speaker 1: investigating whether Deutsche Bank inflated the value of securities and

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Speaker 1: its mortgage bond trading businesses and masked losses through that's

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Speaker 1: according to people with knowledge of the matter, and General

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Speaker 1: Electric has agreed to take part in three billion dollars

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Speaker 1: of Saudi Arabia investments as a desert kingdom seeks to

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Speaker 1: diversify its economy away from crude oil. And now let's

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Speaker 1: get an update on some of the other stories that

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Speaker 1: we're following on Bloomberg Radio today. Catherine, Thank you from

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Speaker 1: the Bloomberg Newsroom, by Mark Crumpton. In Baltimore, avertict today

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Speaker 1: in connection with the arrest of Freddy Gray not guilty

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Speaker 1: on all charges. That is the decision from Baltimore Circuit

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Speaker 1: Judge Berry Williams and the trial of Officer Edward Nero.

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Speaker 1: He was facing assault, reckless endangerment, and misconduct in office

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Speaker 1: charges for the arrest that ended in Gray's death last year.

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Speaker 1: One other officer, Garrett Miller, is facing the exact same charges.

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Speaker 1: He actually testified for the prosecution in Nero's trial before

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Speaker 1: his own in July. This verdict, though, deals another serious

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Speaker 1: blow to prosecutors. The first trial over Freddy Gray's death

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Speaker 1: for Officer William Porter ended in a hung jury. Nathan

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Speaker 1: Hagar Bloomberg Radio, Washington. President Obama is in Vietnam, where

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Speaker 1: he met in Hanois with the country's president. Mr Obama

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Speaker 1: credited veterans of the Vietnam War with helping to bring

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Speaker 1: the two countries together. Especially want to thank all those

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Speaker 1: who served both our countries decades ago and then took

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Speaker 1: on one last mission, and that was the mission to

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Speaker 1: help our nations reconcile. The President today lifted the US

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Speaker 1: embargo on weapons sales to Vietnam. Senator Kirsten Gillibrand says

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Speaker 1: sexual misconduct is still a destructive force in the armed

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Speaker 1: services and military communities. She's issued a new reporters in

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Speaker 1: Congress to take more aggressive steps to combat the problem.

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Speaker 1: The New York Democrat examined files from three hundred twenty

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Speaker 1: nine sexual assault cases that occurred in ten at bases

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Speaker 1: in the US. She says she found what she calls

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Speaker 1: a troubling command culture that seemed to favor closing cases

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Speaker 1: over pursuing justice. Global News twenty four hours a day,

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Speaker 1: powered by our two hundred journalists in more than one

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Speaker 1: hundred fifty news bureau is around the world. From the

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Speaker 1: Bloomberg News Room. I'm Mark Crumpton, Katherine, thank you. Now,

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Speaker 1: let's check the benchmarks as they begin to settle. The

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Speaker 1: Dow Industrial leverage down eight points to seventeen thousand, four

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Speaker 1: hundred ninety two s and p FI foundered down four

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Speaker 1: points at two thousand forty eight, then as dacked down

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Speaker 1: four points to forty seven sixty five and Bloomberg Taking

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Speaker 1: Sock is brought to you by Pershing's Insight sixteen, the

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Speaker 1: must attend event for advisors less than two weeks away

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Speaker 1: June seven through the ninth. If you haven't registered, you

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Speaker 1: still can visit inside twenty sixteen dot com. That's I

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Speaker 1: N S I T E Steen dot com and that's

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Speaker 1: a bloom Bar business flash move around Mortembray Promotions ideally

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Speaker 1: Earth Move. You moved like they do. I've never seen

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Speaker 1: anyone move that beast fired people. It's moved like you

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Speaker 1: got a purpose. That was called movers and shakers. The

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Speaker 1: cost of of them. That name cracked me up. Bloomberg

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Speaker 1: taking stock Movers and Shakers with Pim Fox and Kathleen

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Speaker 1: As on Bloomberg Radio. We're live today at Invested sixteen,

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Speaker 1: The Power of Big Ideas. It's a B N Y

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Speaker 1: Melon client conference at Duve Mountain, thirty miles from Tucson, Arizona. Well,

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Speaker 1: Dave Wilson is backup Bloomberg World headquarters in New York City.

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Speaker 1: We're kicking off movers and shakers, and as we do,

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Speaker 1: just want to give you the breakdown in terms of

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Speaker 1: the SMP five hundred winners and losers, A hundred and

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Speaker 1: eighty six issues closing higher. They were at a fourteen

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Speaker 1: closing lower, five unchanged. So Dave, what are you looking at? Well?

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Speaker 1: The two best performers in the SNP five hundred have

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Speaker 1: a couple of things in common. One is that they

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Speaker 1: both fit into the materials category, and two is that

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Speaker 1: their shares rose four point four percent on the day.

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Speaker 1: One of them's Monsanto. We found out that an unsolicited

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Speaker 1: takeover offer from German and he's buyer valued these seed

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Speaker 1: and farm chemical producer at sixty two billion dollars or

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Speaker 1: a hundred twenty two dollars to share, Monsanto closing in

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Speaker 1: a hundred and six dollars today after rising that four

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Speaker 1: point four percent. The other is a fertilizer producers CF

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Speaker 1: Industries Holdings. Now they had planned to buy a Dutch rival,

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Speaker 1: O c I for five point four billion dollars. They

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Speaker 1: backed out of the deal as a result of tax

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Speaker 1: law changes here in the US that made it impractical

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Speaker 1: for them to proceed. It would have been a case

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Speaker 1: of a tax in version where CF in essence moved

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Speaker 1: its legal headquarters overseas in order to cut its tax bills.

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Speaker 1: And that's exactly what the laws were designed to prevent

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Speaker 1: in some cases, or at least impede. So see if

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Speaker 1: backing away from that deal, and as I mentioned, rising

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Speaker 1: four point four percent, as did mont Santos of Apple

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Speaker 1: today higher by about one and a quarter percent. This

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Speaker 1: comes after a report in Taiwan's Economic Daily that Apple's

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Speaker 1: suppliers have been asked to make more iPhone sevens than

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Speaker 1: previously estimated. They said that Apple as suppliers to produce

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Speaker 1: between seventy two and seventy eight million I falls sevens

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Speaker 1: by the end of the year. That is higher than

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Speaker 1: Wall Street analysts estimates of sixty five million shares of

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Speaker 1: Skywork Solutions as well as Corvo, both gaining a little

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Speaker 1: bit more than one and a half percent today on

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Speaker 1: this news once again, chairs an Apple higher today by

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Speaker 1: one and a quarter percent. I just want to take

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Speaker 1: a look at Coca Cola. A little bit of pressure

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Speaker 1: earlier on the stock, but it's closing up a couple

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Speaker 1: of pennies at forty three and ninety seven cents. In

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Speaker 1: spite of it, it is stopping production of well Coca

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Speaker 1: Cola sugar sweetened beverages in Venezuela. There's a lack of

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Speaker 1: raw materials in this very cash drap very turbulent economy country.

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Speaker 1: And soft drinks, of course, are just one of the

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Speaker 1: latest of products to join this long line where production

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Speaker 1: has already been halted. Uh A Coca Colas women saying

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Speaker 1: an email today that sure suppliers in Venezuela have informed

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Speaker 1: us that they will temporarily sees operations and the company

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Speaker 1: is talking with suppliers, government authorities and others to work

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Speaker 1: on a solution. We're gonna be talking about Coca Cola

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Speaker 1: and more broadly, what's happening with commodities producers in Venezuela

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Speaker 1: later in the program. I want to mention the worst

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Speaker 1: performer on the day in the S and P five hundred.

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Speaker 1: It's an industrial company called Roper Technologies, and it became

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Speaker 1: a target for a short selling research firm off Wall

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Speaker 1: Street Consulting group. They came out and said they're looking

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Speaker 1: for the stock to drop to a hundred and eighteen dollars,

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Speaker 1: down thirty six percent from last week's close. They're talking

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Speaker 1: about slower revenue growth in one of their main business

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Speaker 1: units and possibly another one coming up short of the

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Speaker 1: company's own forecasts in terms of growth. You put that

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Speaker 1: together and roper Technologies that took our r o P

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Speaker 1: on the stock following five point seven percent on the day.

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Speaker 1: All right, let me tell you about the VIX today

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Speaker 1: movie higher and this is of course the Volatility Index

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

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Speaker 1: Slash Powerful Outcomes. VIX. Now, the VIX hire today, as

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Speaker 1: I said, um up about let's take a look, three

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Speaker 1: point eight percent just moves higher on the close, three

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Speaker 1: point eight percent, an increase of point fifty eight, settling

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Speaker 1: at the fifteen point to seventy eight. And you know,

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Speaker 1: they're looking at the VIX performance over the last couple

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Speaker 1: of sessions and beginning in in this session. You have

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Speaker 1: to take note that the VIX has really been subdued

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Speaker 1: all through the year, and that that is an indication

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Speaker 1: of complacency. And it means also that futures on the

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Speaker 1: VIX are less expensive than they normally would be. All right, Dave,

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Speaker 1: you're uh hi, my name is Dave. Just what do

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Speaker 1: you thinks you're doing things? We're going for a Dave

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Speaker 1: kay l X, Dave Wilson apparently uh first quarter disappointment.

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Speaker 1: Absolutely now. This is a company that distributes aircraft parts

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Speaker 1: and provides services to oil and gas producers. The aerospace

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Speaker 1: unit accounts for about nine of the company's revenue and

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Speaker 1: all of its earnings has lower oil and gas prices

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Speaker 1: have hurt the energy business. Kal X gained independence in

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Speaker 1: December from b E Aerospace, which spun off the company

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Speaker 1: after coming under pressure from the activist fund Relational Investors.

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Speaker 1: It's listed under the ticker symbol k l x I

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Speaker 1: now kal X shares initially traded in the mid forties.

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Speaker 1: They split the thirty hours seventy nine cents last year

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Speaker 1: as the company reduced its value of its oil services

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Speaker 1: business and hit bottom at twenty five thirty three in February.

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Speaker 1: While Kallex rebounded in the past three months, the recovery

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Speaker 1: was set back today after those fiscal first quarter results

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Speaker 1: were released. Revenue was lower than analysts average estimate in

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Speaker 1: the Bloomberg survey, and the company said falling demand from

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Speaker 1: military and business jet customers well heard sales in its

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Speaker 1: second quarter. Now, shares of Calx suffered their second biggest

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Speaker 1: loss since the company when public. They dropped fourteen percent

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Speaker 1: on the day. The only decline that was steeper occurred

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Speaker 1: back in November, when the shares prel almost eighteen percent.

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Speaker 1: Thank you very much, David Wilson, Bloomberg Stocks columnist, appreciate

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Speaker 1: your look at today's stock of the day. We are

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Speaker 1: broadcasting live from the Invested sixteen The Power of Big

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Speaker 1: Ideas b n Y Melon's client conference in Tucson, Arizona.

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Speaker 1: You're listening to Taking stockheim pim Fox my co host

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Speaker 1: Kathleen Hayes looking at today's close SMP five hundred, down

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Speaker 1: about two tenths of a percent, settling at two thousand

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Speaker 1: forty eight. This is Bloomberg Radio Blober. Taking Stock is

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Speaker 1: brought to you by Cone Resident look Ahead, Gain Insight,

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Speaker 1: Imagine more, Get forward Thinking. Advice can help turn business

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Speaker 1: possibilities into business opportunities. Find out more at Cone residuc

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Speaker 1: dot com, m