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Speaker 1: Gloomboo 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: This is a Bloomberg Business for from Bloomberg World Headquarters.

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

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Speaker 1: New York Stock Exchange as we wrap up trading on

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Speaker 1: this Friday. May their team tend it is on to

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Speaker 1: the weekend. Folks from Sensata Technologies ringing that closing bell,

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Speaker 1: stock slower s and P five hundred index dropping three

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Speaker 1: weeks in a row amid lackluster results from large retailers,

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Speaker 1: while data signaling consumers remain healthy, added to a case

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Speaker 1: for higher interest rates. This update is brought to you

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Speaker 1: by Sector Spider E t F S. Why by a

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Speaker 1: single stock when you can invest in the entire sector.

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Speaker 1: Visits Sector sp d r S dot com or call

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Speaker 1: one six six Sector e t F More pain today

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Speaker 1: for retailers after disappointing results. Nords from Town thirteen point

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Speaker 1: four percent, Macy's unchanged today, but j C. Penny after

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Speaker 1: its latest report down two point eight percent. Marshall Cohen

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Speaker 1: is chief industry analyst at np D Group. He was

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Speaker 1: interviewed right here on the Bloomberg advantage, he says fashion

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Speaker 1: is not helping retailers either, in addition to everything else

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Speaker 1: they're facing. You know how, the big uh trend for

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Speaker 1: the whole season of fifteen and now into steen has

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Speaker 1: been this movement towards more athletic inspired product. So imagine

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Speaker 1: what stores are doing. They're selling, you know, stretched leggings

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Speaker 1: for forty dollars where they used to sell stretched denim

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Speaker 1: for a hundred and fifty dollars. They have to sell

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Speaker 1: two and three times as much merchandise to make up

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Speaker 1: those lost dollars. Down Industrials down one hundred eighty five points,

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Speaker 1: dropped there of one percent, SMP five hundred index down

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Speaker 1: for a third week, falling seventeen points to end the

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Speaker 1: week at twenty six, a drop of nine tenths of

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Speaker 1: one percent, than asastan composite index down nineteen to drop

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Speaker 1: a four tenths of one percent. The tenure of fifteen

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Speaker 1: thirty seconds deal there one point seven percent, and gold

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Speaker 1: up three tenths of one percent. Are by three to twelve.

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

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Speaker 1: take a look at some of the other stories making

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Speaker 1: us from around the World, Charlie, thank you from the

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Speaker 1: Bloomberg News Room. I Mark Crumpton. Homeland Security Secretary J

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Speaker 1: Johnson says there will be wait times for flights this summer,

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Speaker 1: but he says the Transportation Security Administration is doing what

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Speaker 1: it can to reduce delays without sacrificing security. We have

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Speaker 1: developed a ten point plan that will keep passengers moving

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Speaker 1: and most importantly, keep passengers safe. Secretary Johnson says that

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Speaker 1: plan includes more transportation security officers, more overtime pay, more

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Speaker 1: training and planning with the nation's busiest airports. Donald Trump

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Speaker 1: says he's not going to reveal his tax rate or

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Speaker 1: make his returns blake until an audit of his businesses

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Speaker 1: has been completed. He spoke to ABC's George Stephanopolis that

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Speaker 1: built a massive business, and I want to make sure

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Speaker 1: that everything is perfect. It's a routine audit. I want

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Speaker 1: to get through the audit first, and that's what I'll do.

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Speaker 1: There have been many presidents that have not shown their

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Speaker 1: tax returns. Actually, every single nominees since nineteen seventy six

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Speaker 1: has released seventy six people didn't do it. I mean

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Speaker 1: it used to be a secret thing. I don't want

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Speaker 1: it to be secret, but I do want the order

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Speaker 1: to get finished. Canadian Prime Minister Justin Trudeaus and Fort

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Speaker 1: McMurray to assess the damage caused by a raging wildfire

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Speaker 1: that forced the evacuation of more than eighty eight thousand people.

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Speaker 1: The world's oldest person has died in New York. Susannah

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Speaker 1: Moshah Jones was one hundred sixteen. She was born in

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Speaker 1: Alabama in eighteen ninety nine. Her death leaves a one

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Speaker 1: hundred sixteen year old woman from Italy as the world's

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Speaker 1: oldest person and last living person born in the eighteen hundreds.

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Speaker 1: Global News twenty four hours a day, powered by our

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Speaker 1: twenty four hundred journalists and more than one hundred fifty

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Speaker 1: news bureaus around the world. From the Bloomberg News Room,

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Speaker 1: I'm Mark Crumpton, Charlie, and we thank you and again

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Speaker 1: recapping a losing day on Wall Street down for three

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Speaker 1: weeks in a row, the Dow dropping a hundred and

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Speaker 1: eighty five points, down one percent, SMP five hundred, Index

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Speaker 1: Town seventeen a drop of point nine percent. I'm Charlie

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Speaker 1: Pellett and dance a Bloomberg Business flash move around. Morten

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Speaker 1: Grads emotion at the elite move you moved like they do.

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Speaker 1: I've never seen anyone move that fan hard people. Let's

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Speaker 1: move like to great A purpose that was called movers

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Speaker 1: and shakers. They cost a little more and that name

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

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Speaker 1: Pim Fox and Kathleen As on Bloomberg Radio. Well, our

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Speaker 1: live broadcast continues from Elbow Beach, Bermuda and Ocean Front

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Speaker 1: on Cleylo Classic style and contemporary Luxury's certainly had some

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Speaker 1: are Bermudians moving and shakers on our show today. Everyone

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Speaker 1: from the honorable Michael Duck Dunkley, He's Bermier Bermuda, talked

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Speaker 1: a lot about what's driving business and the economy here

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Speaker 1: at Burns, he's managing director here at Elbow Beach, Bermuda.

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Speaker 1: We want to bring in now bring him back our

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Speaker 1: Stocks editor David Wilson Day, We do wish you were

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Speaker 1: here in Bermuda with us your Bloomberg World headquarters to

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Speaker 1: kick off Bloomberg Bloomberg Movers and Shakers. But I just

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Speaker 1: have to save why the internals on the SMP five

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Speaker 1: hundred only seventy three uh issues closing higher four or

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Speaker 1: thirty lower five unchanged and it certainly UH down day,

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Speaker 1: no doubt about it. And then one of the stocks

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Speaker 1: that fell in today's trading as PepsiCo. You know, money

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Speaker 1: managers have until Monday to make their thirteen f files

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Speaker 1: as they're called with the Securities and Exchange Commission quarterly

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Speaker 1: disclosure of their holdings. Billionaire investor Melts and Pelts is

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Speaker 1: Try and Find management made it's filing today and PepsiCo

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Speaker 1: was conspicuous by its absence. Now this is stock to

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Speaker 1: try and first bought back in twleven, Pelts tried to

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Speaker 1: break apart the beverage business from PepsiCo's Freedol, a snack

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Speaker 1: unit that didn't work out. He did get a seat

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Speaker 1: on the board. Nonetheless, uh the last of the try

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Speaker 1: and shares gone from their holdings as of their their

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Speaker 1: end of the first quarter based on this filing and

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Speaker 1: PepsiCo's shares in response following one cent of the day.

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Speaker 1: Let me tell you about the shares a Freeport mcmaran

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Speaker 1: following commodity players. F c X is the symbol and

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Speaker 1: the shares tumbling five and a half percent today. Freeport

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Speaker 1: mcmaran has said that it had reached an agreement with

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Speaker 1: Noble Drilling this is a subsidiary of Noble Corp. In

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Speaker 1: order to cancel two drilling rick contracts. The terms of

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Speaker 1: the deal include a payment of five hundred and forty

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Speaker 1: million dollars and uh well a Freeport common stock Renoble

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Speaker 1: bonds do no later than December of twenty nineteen. They

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Speaker 1: can use that or they can use cash. Nevertheless, shares

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Speaker 1: a Freeport Macaren down five and a half percent. Let's

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Speaker 1: look at Norty's. We haven't heard enough about Nordstrom's yet today,

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Speaker 1: have we. I mean, what a bad day actually they

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Speaker 1: reported yesterday and they've cut their earnings forecast for example,

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Speaker 1: uh two dollars and fifty cents to two dollars and

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Speaker 1: seventy cents to share for the year. They had been

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Speaker 1: looking for three dollars and thirty five cents. They cut

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Speaker 1: their sales drows forecast forecast that came out yesterday. Still,

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Speaker 1: Northstron continues to decline today, down thirteen point four percent

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Speaker 1: to thirty nine dollars and change. But it's the it's

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Speaker 1: the weight of all these companies. Earlier in the week,

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Speaker 1: Macy's gave this bleak outlook colds also j C Penny

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Speaker 1: today weaker than UH for weaker than projected sales forecast,

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Speaker 1: and it is now down two point eight percent to

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Speaker 1: seven dollars and fifty eight cents this year. Really hard

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Speaker 1: to tell what's gonna happen these retailers, Marshall Cohen telling

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Speaker 1: us they got a change summer doing it some are.

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Speaker 1: I got one more retailer for you that took ahead today.

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Speaker 1: It's a company called Taylor Brands. They sell men's apparel

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Speaker 1: and UH, Citron Research that's the short seller. Andrew Left

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Speaker 1: firm came out with a tweet today talking about all

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Speaker 1: retail names Taylor Blend. Taylor Brands seems to be the

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Speaker 1: obvious zero, referring to the share price. We got in

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Speaker 1: touch with them, found out that Left has been short

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Speaker 1: this stock, betting onto a decline for some time and

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Speaker 1: certainly Uh. The fact that Citron is is against this

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Speaker 1: company got people's attention. And as it's made less of money,

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Speaker 1: Taylor Brands tick her on this one. T l r

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Speaker 1: D folding seven point nine percent on the day. I'll

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Speaker 1: tell you another stock that felt today. This has to

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Speaker 1: do with oil exploration, a trans ocean symbol R I

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Speaker 1: g rig down four nearly four and a half PERCENTAIS

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Speaker 1: comes after Fitch Ratings downgrades trans Ocean to B plus

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Speaker 1: with outlook a negative if uh. The downgrade reflects really

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Speaker 1: just lower than previously expected exploration and production capital spending

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Speaker 1: and offshore rig tendering activity. Means it's just business is lousy.

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Speaker 1: Also Fitches extending offshore driller recovery profile assumption. That means

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Speaker 1: that the outlook for business not necessarily great. Shares of

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Speaker 1: a trans ocean rig down about four and a half percent.

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Speaker 1: Should we just talk about one stock that's up, just

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Speaker 1: really quickly, Shake Shack Uh gaining today was up as

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Speaker 1: much as eight point six at one point, even closer

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Speaker 1: to nine. Their Q one profit forecast was lifted or

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Speaker 1: actually what was purported eight cents versus five cents. Sales

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Speaker 1: came in better, and you know what, they've been adding

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Speaker 1: a lot of chicken checks. And the CEO talked about

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Speaker 1: that Shake Shock having a nice day to day. Alright,

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Speaker 1: chicken checks, All right, good, Well, let me tell you

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Speaker 1: now it's time. But the volatility index reported is brought

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Speaker 1: to you by the cbo E Vicks Options and futures.

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Speaker 1: Volatility can be harnessed with cbo E Vicks options and

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Speaker 1: futures CE disclosures. Learn more at cbo e dot com

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Speaker 1: slash Powerful it comes VIX. The VIX moved higher today.

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Speaker 1: It was up a little bit more than five per cent,

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Speaker 1: adding point seven three, closing at fifteen point of fourteen. Now,

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Speaker 1: relatively speaking, remains the historical measures of the VIX indicates

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Speaker 1: that currently it remains low, but it's shown some increase

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Speaker 1: over the past three weeks, and this could indicate that

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Speaker 1: we're not breaking through to those higher highs equities. Still

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Speaker 1: remain vulnerable. All right, Dave, you're up. Uh hi, my

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Speaker 1: name is Dave Jes. What do you think you're doing.

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Speaker 1: We're going for the prikedown Wilson, Dave, al right, Mr Wilson,

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Speaker 1: Tell a Doc. I think it's a great concept. But boy,

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Speaker 1: oh boy, another busted I p O out there. Absolutely,

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Speaker 1: I mean. Talla Doc is a company that uses phone

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Speaker 1: and video consultations to diagnose ailments, recommend treatment, and prescribe medication.

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Speaker 1: It's been around since two thousand two. Who went public

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Speaker 1: last June. Shares in under the ticker t d o

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Speaker 1: C or if you like t doc. The company made

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Speaker 1: its initial public offering at nineteen dollars a share. Stock

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Speaker 1: first fell below that price in October and has stayed

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Speaker 1: there since January. Hence the reference to a busted I

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Speaker 1: p O. Tell Doc dropped as low as nine dollars

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Speaker 1: eight cents in March, and a recovery attempt fizzled. After

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Speaker 1: the release of first quarter results late Tuesday, company's loss

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Speaker 1: was wider than analysts average aessement to Bloomberg survey, and

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Speaker 1: its second quarter loss forecast even further away from projections. Now.

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Speaker 1: Tele Doc shares have fallen every day since the results

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Speaker 1: came out, and today was the biggest decline, stock dropping

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Speaker 1: nine point two per cent, bringing its loss for the

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Speaker 1: three days to almost fifteen percent. Thank you very much,

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Speaker 1: David Wilson, Bloomberg's Stocks calumnists and our resident music college

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Speaker 1: a Send him an email at d Wilson at Bloomberg

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Speaker 1: dot net and sign up for his daily pre email newsletter.

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Speaker 1: This this Bloomberg Rate You Bloomberg Taking Stock is brought

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Speaker 1: to by the countants and advisors to eisener Apper. Cyber

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Speaker 1: security is on the mind of every business leader. Managing

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Speaker 1: cyber risk should be to get startup the cyber risk Assessment.

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Speaker 1: Learn more. Eisener apper dot com slash cyber risk