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Speaker 1: Um Global Business News twenty four hours a day at

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Speaker 1: Bloomberg dot Com, the Radio plus Mobile Act and on

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Speaker 1: your radio. This is a Broomberg Business Flash from Bloomberg

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Speaker 1: World Handquarters. I'm Charlie Pellett Nadal the SMP NEZ Stack

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Speaker 1: All Advancing Today, Folks from g M s ringing that

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Speaker 1: closing bell stocks, headed hires, technology shares, rallied amid deal

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Speaker 1: activity and corporate earnings spurred optimism that results this season

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Speaker 1: will be sturdy enough to help sustain equities at record levels.

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Speaker 1: Charles de Vaux is chief investment officer at International Value Advisors.

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Speaker 1: He was our guests moments ago right here on taking

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Speaker 1: stock and explain why he's not afraid to be in

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Speaker 1: cash right now. And the reason is that we'd rather

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Speaker 1: hold cash than force ourselves to buy or hold overvalued securities.

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Speaker 1: And yet around the world we feel that most stocks

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Speaker 1: and bonds are priceful perfection to say elegant, lee to

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Speaker 1: say it less elegantly, I would say that they often

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Speaker 1: are at nosebleed valuation. Level of Bloomberg Exclusive Today, Tom

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Speaker 1: Keane sat down with Christine Lagarde, Managing director of the

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Speaker 1: International Military Fund. She touched on a number of topics,

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Speaker 1: including the recent vote to leave by the UK to

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Speaker 1: leave the European Union. You know, if anything in Europe,

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Speaker 1: the decision made by the British people to exit the

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Speaker 1: European Union has accelerated enough of you the need to

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Speaker 1: um consolidate the European Union to give a strong message

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Speaker 1: to the European people about the benefit that Europe can

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Speaker 1: actually deliver for them. Concentrating on the positive, focusing on

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Speaker 1: key shoes for the people of Europe. World Pool shares

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Speaker 1: climb today after the appliance industry sales surged in June,

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Speaker 1: assign more Americans or upgrading their air conditioners and other equipment.

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Speaker 1: Worldpool shares up today by one point four percent. Equities

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Speaker 1: higher SMP five had it Index up five six, a

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Speaker 1: gain of two tenths of one percent. Town Industrial is

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Speaker 1: up fifteen to eighteen thousand, five hundred thirty one, a

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Speaker 1: gain of point one percent, and as a stack up

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Speaker 1: twenty six, a gain of five tenths of one percent.

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Speaker 1: Gold up to forty announced, the thirty nine up two

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Speaker 1: tenths of one percent, And now look at the other

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Speaker 1: stories making news. Charlie, Thank you from the Bloomberg Newsroom.

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Speaker 1: I'm Mark Crumpton. This convention will come to order, the

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Speaker 1: Republican National Committee Chairman rants previous Today in Philadelphia, on

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Speaker 1: day one of the Republican Convention, Donald Trump's campaign manager

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Speaker 1: Paul Manafort says he's optimistic about the next few days.

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Speaker 1: The goal of the overall convention will be to present

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Speaker 1: Mr Trump not just as the political figure running for office,

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Speaker 1: but as the father, as the businessman, as the as

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Speaker 1: the compassionate human being. Manafort says. One of the themes

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Speaker 1: of the convention is to present Hillary Clinton as the

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Speaker 1: ultimate establishment candidate. Speaking at the double A CPS National

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Speaker 1: Convention in Cincinnati, Mrs Clinton took a swipe at Donald

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Speaker 1: Trump for declining an invitation to speak at the event.

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Speaker 1: We all know about that other conventioning happening happening up

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Speaker 1: in Cleveland today. Now, my my opponent in this race,

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Speaker 1: may have a different view, but there's nowhere I'd rather

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Speaker 1: be than right here with all of you. The Democratic

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Speaker 1: National Convention begins next Monday in Philadelphia. Louisiana State Police

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Speaker 1: Colonel Mike Edmondson says the gunman who shot six police

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Speaker 1: officers in Baton Rouge Sunday, killing three clearly targeted law

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Speaker 1: enforcement Edmonton showed overhead maps of the area to explain

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Speaker 1: how Gavin Long, a former US marine, snuck up behind

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Speaker 1: officers and shot them at close range. Global News twenty

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

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Speaker 1: and analysts in more than one countries. I'm Mark Crumpton.

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Speaker 1: This is Bloomberg, Charlie, and we thank you, and again

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Speaker 1: recapping a move higher record clothes for the SMP six

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Speaker 1: up five points again of two tents of one percent.

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Speaker 1: Just getting word from Netflix that shares our moving lower.

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Speaker 1: It's reporting second quarter international streaming net editions of one

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Speaker 1: point five two million. Estimates were four two point one

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Speaker 1: five million. I'm Charlie Pellett and that's a Bloomberg Business flash.

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Speaker 1: Move around Morton creates a motion. I feel move you

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Speaker 1: move like they do. I've never seen anyone move that hard.

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Speaker 1: People's move like to get a purpose that he's called

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Speaker 1: movers and shakers. It costs a little more. That name

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Speaker 1: cracked me up. Bloomberg taking stock Movers and Shakers with

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Speaker 1: Bim Box and Kathleen as on Bloomberg Radio Movers and

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Speaker 1: Shakers for Monday, July eighteen, twenty is sixteen two hundred

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Speaker 1: and ninety six issues in the SMP, five hundred advanced,

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Speaker 1: two hundred and four decline, and five remain unchanged. I

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Speaker 1: want to bring in Bloomberg Stocks Commas Dave Wilson to

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Speaker 1: begin our movers and shakers. Dave, Well, we might as

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Speaker 1: well talk about ARM Holdings, the chip designer based in

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Speaker 1: the UK traded here in the US. Japan's SoftBank Group

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Speaker 1: agreed to buy ARM for thirty two billion dollars. Now,

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Speaker 1: ARM Holding shares up forty and a half percent in

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Speaker 1: US trading in the wake of that offer, SoftBank falling

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Speaker 1: almost eight percent. Those shares trade over the counter here

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Speaker 1: in the US. The course, SoftBank has a majority stake

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Speaker 1: in the wireless company Sprint, So if they're spending thirty

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Speaker 1: two billion dollars on ARM, you've got to wonder what happened.

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Speaker 1: It's the Sprint going down the line, and certainly that

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Speaker 1: kind of doubt reflected in the performance of Sprint shares

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Speaker 1: today they fell five I'll tell you about the shares

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Speaker 1: of Netflix, as Charlie Pett was just mentioning, their second

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Speaker 1: quarter results have been released and the stock is falling

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Speaker 1: more than twelve percent in postmarket trading. During the second quarter,

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Speaker 1: Netflix earned nine cents a share that did match average

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Speaker 1: analysts estimates, but the company is said that for the

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Speaker 1: third quarter they expect earnings to be five cents to

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Speaker 1: share and analysts estimates were for seven cents to share.

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Speaker 1: In addition, Netflix sees the third quarter bringing in about

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Speaker 1: two million new international streaming subscribers. Analysts estimates were looking

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Speaker 1: for more than two and a half million additional subscribers.

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Speaker 1: Once again, the shares of Netflix are falling more than

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Speaker 1: twelve percent and after hours trading. If you're gona talk

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Speaker 1: earnings disappointments, we might as well mention Hasbro. Now, what's

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Speaker 1: interesting there is that the second quarter earnings in the

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Speaker 1: revenue actually beat analysts average esthimates in Bloomberg survey. Trouble is, though,

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Speaker 1: that the Boys Toys, the biggest piece of Hasbro's business,

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Speaker 1: didn't measure up to what analysts were looking for in

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Speaker 1: terms of growth, only increase about four percent in revenue,

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Speaker 1: and that followed a twenty four percent increase in the

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Speaker 1: first quarter. Uh company talking about sort of a gap

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Speaker 1: in the Transformers movies hurting their sales performance in that

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Speaker 1: part of the business. Also well you had something about

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Speaker 1: increase in inventory and a dollar amount from a year ago.

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Speaker 1: You put that together in Hasbro shares the worst performers

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Speaker 1: in the SNP today. They fell six point six percent. Well,

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Speaker 1: tell you about the shares of Monster Beverage down a

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Speaker 1: three and three quarters of a percent today. Uh this

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Speaker 1: coming after Wells Fargo downgraded the shares to market perform

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Speaker 1: on concerns that near term upside potential is limited and

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Speaker 1: they lowered the Well, I beg your pardon. The price

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Speaker 1: target remains unchanged in the range of a hundred and

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Speaker 1: sixty four to a hundred and sixty six dollars. Monster

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Speaker 1: Beverage Trade said about a hundred and fifty five dollars

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Speaker 1: a share. But interestingly, there is a counterpoint that Goldman

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Speaker 1: Sacks came out and said, nope, they disagree with what's

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Speaker 1: going on over at head Wells Fargo, and they see

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Speaker 1: a Monster Beverage shares as as being worthwhile to purchase.

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Speaker 1: And indeed they said that they've been defended at the

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Speaker 1: Goldman Sacks even after this drop. They said that the

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Speaker 1: weakness provides a buying opportunity. This, according to Goldman analysts

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Speaker 1: Judy hung their price target a hundred and seventy two

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Speaker 1: dollars once again. Monster beverage down today three and three

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Speaker 1: quarters ever percent. Well, as the Pokemon Go apps popularity increases,

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Speaker 1: game Stop is managing to benefit now. This company sells

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Speaker 1: Pokemon video games and collectibles and uh Chief executive Paul

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Speaker 1: Raines told CNBC that the company has hundreds of stores

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Speaker 1: that are gyms in Pokemon Go, so they're a destination

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Speaker 1: and as it turns out, sales in those stores have doubled.

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Speaker 1: So this is all the sort of thing that investors

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Speaker 1: want to hear. And game Stop shares up almost eight

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Speaker 1: percent in today's trading. Alright, it is time now for

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Speaker 1: the Volatility Index Report. It is brought to you by

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Speaker 1: CBOE VIX Options and Futures. Volatility can be harnessed with

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Speaker 1: cbo E VIX Options and Futures see disclosures. Learn more

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Speaker 1: at cbo e dot com Slash Powerful Outcomes VIX. The

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Speaker 1: VIX down today, declining once again, falling nearly two percent,

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Speaker 1: down zero point to five, settling at twelve point four two.

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Speaker 1: And UH, well, we're looking at a VIX that has

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Speaker 1: been closing at its lowest level in more than eleven months.

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Speaker 1: Our investors fearful, not according to the VIX, which is

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Speaker 1: way below the long term average of twenty Alright, 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 think you're doing. We're going for the prisn Dave, Dave, Hey,

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Speaker 1: Mr Wilson. Let's talk about or would you please talk

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Speaker 1: about a company called Westco Aircraft Holdings and uh well,

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Speaker 1: it is below it's initial public offering price. Indeed, it

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Speaker 1: is I'm gonna have mentioned really quickly IBM because their

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Speaker 1: second quarter numbers are out operating earnest six cents higher

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Speaker 1: than analysts average, Estmate and Bloomberg Survey Revenue Justice Head

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Speaker 1: as well in IBM, moving higher in late trading in

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Speaker 1: the wake of those results. Now, let's turn to Westco Aircraft,

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Speaker 1: their fifth anniversary of the initial public offerings coming up

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Speaker 1: next week, and anyone who has owned shares of the

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Speaker 1: aircraft parts retailer and distributors since this debut doesn't have

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Speaker 1: much to celebrate. WESTC trades under the ticker w A

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Speaker 1: I R and as you mentioned, company went public at

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Speaker 1: fifteen dollars a share and this year it has yet

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Speaker 1: to close above its I p O price. It's been

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Speaker 1: as low as ten dollars and nineteen cents on a

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Speaker 1: closing basis. West Coast stock faltered under the weight of

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Speaker 1: three securities firms cell recommendations. They go back to November

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Speaker 1: after a set a quarterly results proved disappointing. At least

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Speaker 1: that's what data compalmed by Bloomberg shows. A fourth firm

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Speaker 1: joined the cell camp today, Jefferies lowered its West Co

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Speaker 1: rating to the equivalent of Cell from hold uh Anas.

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Speaker 1: Sheila Kayalu wrote in a report that she sees the

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Speaker 1: company having limited growth opportunities and financial flexibility, among other things.

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Speaker 1: West Coast shares closing with a loss of four pot

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Speaker 1: eight percent today after falling as much as seven and

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Speaker 1: a half percents. Thank you very much, Dave Wilson, Bloomberg

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Speaker 1: Stocks Commis. Send him an email at d Wilson at

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Speaker 1: Bloomberg dot net. Sign up for his daily free email newsletter.

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Speaker 1: It will make you a smarter investor. IBM second quarter

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Speaker 1: operating earnings per share two dollars five cents versus an

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Speaker 1: estimate of two dollars and eighty nine cents. We've got

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Speaker 1: details coming up. This is Bloomberg. Bloomberg taking stock is

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Speaker 1: brought to you by Khne Resnick look Ahead and gain insight,

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Speaker 1: imagining more get forward thinking advice that can help turn

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

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Speaker 1: Resnick dot com