1 00:00:00,040 --> 00:00:06,120 Speaker 1: Com Global business news twenty four hours a day. Yet 2 00:00:06,160 --> 00:00:09,160 Speaker 1: Bloomberg dot com the radio plus mobile left and on 3 00:00:09,240 --> 00:00:13,400 Speaker 1: your radio. This is a Bloomberg Business flash from Bloomberg 4 00:00:13,440 --> 00:00:18,520 Speaker 1: World Headquarters. I'm Charlie Pellett, folks from inter Brand's breakthrough Brands, 5 00:00:18,600 --> 00:00:21,360 Speaker 1: ringing that closing bell and as it sounds, we are 6 00:00:21,360 --> 00:00:25,000 Speaker 1: awaiting the latest numbers out of Apple and Twitter. A 7 00:00:25,120 --> 00:00:28,440 Speaker 1: higher close on the SMP five hundred index, up less 8 00:00:28,440 --> 00:00:31,880 Speaker 1: than a point to sixty nine, but again on the 9 00:00:32,000 --> 00:00:36,040 Speaker 1: less down industrials down eighteen points to eighteen thousand, four 10 00:00:36,120 --> 00:00:38,440 Speaker 1: hundred seventy three and dropped there of point one percent. 11 00:00:38,880 --> 00:00:41,840 Speaker 1: Naz Stack up twelve to fifty one ten, a gain 12 00:00:41,920 --> 00:00:45,280 Speaker 1: of point two percent. Stocks spent much of the session 13 00:00:45,360 --> 00:00:49,440 Speaker 1: fluctuating as housing data bolstered optimism in the economy and 14 00:00:49,600 --> 00:00:52,720 Speaker 1: raise the possibility of the Federal Reserve may strike a 15 00:00:52,800 --> 00:00:56,040 Speaker 1: more hawkish tone on interest rates after its two day 16 00:00:56,080 --> 00:01:00,240 Speaker 1: policy meeting. Earnings from McDonald's and Caterpillar painted a little 17 00:01:00,280 --> 00:01:04,360 Speaker 1: picture of the economy. McDonald shares down four point five percent, 18 00:01:04,760 --> 00:01:08,440 Speaker 1: caterput her up five point two percent. An acquisition to 19 00:01:08,440 --> 00:01:11,880 Speaker 1: tell you about analog devices is buying linear technology at 20 00:01:11,920 --> 00:01:15,760 Speaker 1: a value of about sixty dollars a share. Consumer confidence 21 00:01:15,760 --> 00:01:19,120 Speaker 1: a little changed in July, as Americans remain positive about 22 00:01:19,120 --> 00:01:22,399 Speaker 1: the job market and the business environment. That's according to 23 00:01:22,600 --> 00:01:26,040 Speaker 1: numbers from the Conference Board. Lynn Franco is, the Board's 24 00:01:26,080 --> 00:01:29,440 Speaker 1: director of Economic Indicator. She was interviewed today right here 25 00:01:29,600 --> 00:01:32,639 Speaker 1: on taking stock said sort of nothing gained, nothing lost, 26 00:01:32,720 --> 00:01:34,640 Speaker 1: I think is the theme this month. We did see 27 00:01:34,640 --> 00:01:36,679 Speaker 1: a little bit of an uptick in the present situation, 28 00:01:36,800 --> 00:01:40,240 Speaker 1: so we know that the economy continues checking along and 29 00:01:40,680 --> 00:01:44,039 Speaker 1: looking ahead. Consumers are cautiously optimistic, as they have been 30 00:01:44,040 --> 00:01:46,959 Speaker 1: now for quite some time under Armour's second quarter profit 31 00:01:47,000 --> 00:01:50,800 Speaker 1: fell fifty seven percent, hurt by the bankruptcy and liquidation 32 00:01:51,000 --> 00:01:54,280 Speaker 1: of one of the largest sellers of its products. Sports 33 00:01:54,280 --> 00:01:58,120 Speaker 1: Authority SMP five hundred index less than a point to 34 00:01:58,840 --> 00:02:01,920 Speaker 1: sixty nine downd US reels down nineteen or drop there 35 00:02:01,960 --> 00:02:04,720 Speaker 1: of point one percent, NAV stack up twelve, a gain 36 00:02:04,800 --> 00:02:08,880 Speaker 1: of point two percent, Gold up forty cents thirteen nineteen 37 00:02:08,960 --> 00:02:12,239 Speaker 1: the ounce and crude oil down thirty three cents forty 38 00:02:12,280 --> 00:02:14,600 Speaker 1: two seventy at a barrel down eight tenths of one 39 00:02:14,639 --> 00:02:17,440 Speaker 1: percent four oh two on Wall Street. Now, the other 40 00:02:17,520 --> 00:02:22,359 Speaker 1: stories making news. Charlie, Thank you from the Bloomberg news room. 41 00:02:22,360 --> 00:02:25,880 Speaker 1: I'm Mark Crompton. President Obama will speak at the Democratic 42 00:02:25,960 --> 00:02:29,800 Speaker 1: National Convention tomorrow night. Bloomberg's Nathan Hager has more on 43 00:02:29,840 --> 00:02:32,320 Speaker 1: the story. Will the President make a pitch for d 44 00:02:32,440 --> 00:02:35,680 Speaker 1: C voting rights? It's something advocates have been waiting to hear, 45 00:02:35,680 --> 00:02:38,079 Speaker 1: but mostly in vain over the last seven and a 46 00:02:38,120 --> 00:02:41,160 Speaker 1: half years. The Washington Post reports President Obama has only 47 00:02:41,200 --> 00:02:44,160 Speaker 1: spoken out once in favor of DC statehood. That was 48 00:02:44,200 --> 00:02:46,400 Speaker 1: two years ago at a town hall event, when a 49 00:02:46,480 --> 00:02:49,680 Speaker 1: DC resident asked him about it. But statehood is in 50 00:02:49,760 --> 00:02:53,280 Speaker 1: the Democratic Party's platform for the first time in sixteen years, 51 00:02:53,560 --> 00:02:56,120 Speaker 1: and that has delegates holding out hope the President will 52 00:02:56,160 --> 00:02:58,760 Speaker 1: give it a mention when he takes the stage this week. 53 00:02:59,080 --> 00:03:03,760 Speaker 1: Nathan Hagar Oomberg Radio Washington. Republican nominee Donald Trump addressed 54 00:03:03,840 --> 00:03:07,480 Speaker 1: veterans at the National VIA W convention today in Charlotte, 55 00:03:07,520 --> 00:03:10,960 Speaker 1: North Carolina. He accused Hillary Clinton of being lax on 56 00:03:11,120 --> 00:03:14,840 Speaker 1: national security. We know how she takes care of the veterans. 57 00:03:15,520 --> 00:03:19,800 Speaker 1: Just look at her invasion of Libya and her handling 58 00:03:19,880 --> 00:03:24,800 Speaker 1: up Benghazi. A digester, Donald Trump's running mate Mike Pence 59 00:03:25,080 --> 00:03:28,280 Speaker 1: also spoke to the Veterans Group, praising his home state's 60 00:03:28,360 --> 00:03:31,679 Speaker 1: record when it comes to vets. Pence said Indiana has 61 00:03:31,720 --> 00:03:34,880 Speaker 1: the second lowest unemployment rate for veterans in the nation. 62 00:03:35,400 --> 00:03:38,560 Speaker 1: Police Commissioner Bill Bratton says the department has invested in 63 00:03:38,640 --> 00:03:42,160 Speaker 1: new equipment to help protect officers who respond to an 64 00:03:42,200 --> 00:03:45,480 Speaker 1: active shooter. Ratton says the money was allocated to the 65 00:03:45,600 --> 00:03:49,080 Speaker 1: NYPD eighteen months ago, but the city's putting a high 66 00:03:49,160 --> 00:03:52,040 Speaker 1: priority on getting the equipment to officers as soon as 67 00:03:52,080 --> 00:03:54,800 Speaker 1: possible in the wake of shootings in Dallas and Baton. 68 00:03:54,880 --> 00:03:58,120 Speaker 1: Rouge Global News twenty four hours a day, powered by 69 00:03:58,120 --> 00:04:01,200 Speaker 1: more than twenty hundred journalists and analysts in more than 70 00:04:01,240 --> 00:04:05,080 Speaker 1: one twenty countries. I'm Mark Crompton. This is Bloomberg, Charlie, 71 00:04:05,640 --> 00:04:07,440 Speaker 1: and we thank you. And again we are awaiting the 72 00:04:07,520 --> 00:04:10,240 Speaker 1: latest numbers from both Apple and Twitter. We did hear 73 00:04:10,280 --> 00:04:14,080 Speaker 1: from ACAM I second quarter adjusted EPs sixty four cents, 74 00:04:14,240 --> 00:04:17,800 Speaker 1: matching estimates of sixty four cents. I'm Charlie Pellett and 75 00:04:17,920 --> 00:04:22,680 Speaker 1: that's a Bloomberg business flash. Move around most greate promotion 76 00:04:22,839 --> 00:04:27,560 Speaker 1: at the elite move on, you move like they do 77 00:04:27,760 --> 00:04:34,120 Speaker 1: I've never seen anyone move that fast. Card people's move 78 00:04:34,200 --> 00:04:42,080 Speaker 1: like to get a purpose is called movers and shakers. 79 00:04:42,080 --> 00:04:44,480 Speaker 1: They cost a little more. That name cracked me up. 80 00:04:50,360 --> 00:04:54,600 Speaker 1: Bloomberg taking stock movers and Shakers with Pim Fox and 81 00:04:54,720 --> 00:04:58,839 Speaker 1: Kathleen As on Bloomberg Radio Movers and Shakers for Tuesday, 82 00:04:58,920 --> 00:05:02,280 Speaker 1: July the twenty twenty is sixteen taking a look at 83 00:05:02,279 --> 00:05:05,200 Speaker 1: the constituents of the SMP five hundred, three hundred and 84 00:05:05,240 --> 00:05:09,920 Speaker 1: eleven issues advanced, one hundred and ninety two issues declined 85 00:05:10,160 --> 00:05:14,159 Speaker 1: and to remain unchanged. Joining us in studio to begin 86 00:05:14,240 --> 00:05:18,880 Speaker 1: our movers and shakers is Bloomberg News Stocks reporter Joe 87 00:05:18,880 --> 00:05:21,320 Speaker 1: c o e Cho. Great to have you with us. Thanks. Uh. 88 00:05:21,520 --> 00:05:25,040 Speaker 1: First off, we have analog devices. This is a semiconductor 89 00:05:25,080 --> 00:05:28,800 Speaker 1: company that it was announced is in advanced talks to 90 00:05:28,839 --> 00:05:32,880 Speaker 1: acquire linear technology. UH. Analogs up about four percent, and 91 00:05:32,920 --> 00:05:35,560 Speaker 1: that was before it was halted on the news linear 92 00:05:35,600 --> 00:05:39,560 Speaker 1: technology the target was up about before it was also halted. 93 00:05:39,960 --> 00:05:42,279 Speaker 1: And um, and really this is a continuation of the 94 00:05:42,320 --> 00:05:45,760 Speaker 1: record pace of semiconductor consolidation that we saw in two 95 00:05:45,760 --> 00:05:49,160 Speaker 1: thousand fifteen and UM. Really what we're seeing is the 96 00:05:49,240 --> 00:05:54,000 Speaker 1: semi conductors across the market being lifted. The Philadelphia Semiconductor 97 00:05:54,000 --> 00:05:57,719 Speaker 1: Index upmost since January and also sitting at the highest 98 00:05:57,760 --> 00:06:01,240 Speaker 1: level since October two thousand. Well, casino stocks, if you 99 00:06:01,279 --> 00:06:03,920 Speaker 1: own some today, you might be pretty happy. After A 100 00:06:03,920 --> 00:06:09,720 Speaker 1: billionaire and casino tycoon Sheldon Adelson said he's optimistic recreational 101 00:06:09,800 --> 00:06:13,599 Speaker 1: gamblers and tourists are spurring a recovery in Macau's hard 102 00:06:13,680 --> 00:06:18,400 Speaker 1: hit casinos industry. And this came as Las Vegas Sands, 103 00:06:18,440 --> 00:06:21,800 Speaker 1: which where he is chairman, CEO and founder, reported mass 104 00:06:21,800 --> 00:06:24,880 Speaker 1: market gaming revenue in this Chinese city that it was 105 00:06:25,000 --> 00:06:28,440 Speaker 1: up in June for the first time in two years. Uh. 106 00:06:28,600 --> 00:06:31,640 Speaker 1: We saw Las Vegas Sands closing up nearly six percent 107 00:06:31,880 --> 00:06:35,480 Speaker 1: Win Macau. Uh the wind more broadly than Win resorts 108 00:06:35,680 --> 00:06:39,920 Speaker 1: also about six percent Galaxy Entertainment. And of course, just 109 00:06:39,960 --> 00:06:42,520 Speaker 1: a little bit of a note of caution, I guess 110 00:06:42,520 --> 00:06:45,159 Speaker 1: because we've seen castino casino stocks rally in the past 111 00:06:45,240 --> 00:06:49,960 Speaker 1: to retreat, but casino building boom going on right now. 112 00:06:50,040 --> 00:06:52,000 Speaker 1: PAM is one of the reasons why people say this 113 00:06:52,080 --> 00:06:54,240 Speaker 1: time it may be lasting. I'll tell you about the 114 00:06:54,240 --> 00:06:57,000 Speaker 1: share is a Verizon down about two percent today. This 115 00:06:57,120 --> 00:07:00,599 Speaker 1: comes after the largest US cell phone carry as profits 116 00:07:00,600 --> 00:07:03,200 Speaker 1: were hurt by a series of costs. One was that 117 00:07:03,320 --> 00:07:06,479 Speaker 1: seven weeks strike by around forty thousand employees that began 118 00:07:06,520 --> 00:07:08,720 Speaker 1: in April, and it was one of the largest strikes 119 00:07:08,720 --> 00:07:11,520 Speaker 1: by US workers in recent years. Of Verizons had to 120 00:07:11,520 --> 00:07:16,320 Speaker 1: cut into profits from its wireline business. Revenue fell five 121 00:07:16,600 --> 00:07:22,720 Speaker 1: percent once again, shares a Verizon down today two. Moving on, 122 00:07:22,760 --> 00:07:26,360 Speaker 1: we have McDonald's uh it's down four point five percent today. 123 00:07:26,400 --> 00:07:29,680 Speaker 1: That was its biggest single day loss since July of 124 00:07:29,720 --> 00:07:32,720 Speaker 1: two thousand nine. What we saw was the company reporting 125 00:07:32,840 --> 00:07:36,280 Speaker 1: same store sales UH sales growth that missed analysts estimates, 126 00:07:36,640 --> 00:07:39,720 Speaker 1: which is stoking concerns that the US fast food industry 127 00:07:39,960 --> 00:07:43,440 Speaker 1: is heading into a recession. We saw some other shares 128 00:07:43,800 --> 00:07:47,680 Speaker 1: for other fast food companies. Darden Restaurants, Chipotle, Mexican Grill, 129 00:07:48,080 --> 00:07:51,080 Speaker 1: and Young Brands all fell more than three percent on 130 00:07:51,120 --> 00:07:55,320 Speaker 1: the day. We've seen some negative commentary from various Wall 131 00:07:55,320 --> 00:07:59,800 Speaker 1: Street research analysts. Steve full Financials Paul Westra had raised 132 00:07:59,840 --> 00:08:02,640 Speaker 1: Can Serrens previously that the restaurant sector is hitting a downturn. 133 00:08:02,920 --> 00:08:05,880 Speaker 1: So McDonald's down four and a half percent. A tough 134 00:08:05,960 --> 00:08:10,160 Speaker 1: day for under Armor. The share price at the close 135 00:08:10,240 --> 00:08:15,280 Speaker 1: down more than five percent. Reported disappointing second quarter earnings 136 00:08:15,320 --> 00:08:18,720 Speaker 1: today just one sense to share adjusted versus estimates of 137 00:08:18,760 --> 00:08:22,040 Speaker 1: three cents share. They also announced today a move pm 138 00:08:22,080 --> 00:08:25,240 Speaker 1: to reach a more mainstream audience by partnering with Coals 139 00:08:25,240 --> 00:08:28,320 Speaker 1: will bring under Armers apparel to more than stores across 140 00:08:28,320 --> 00:08:31,720 Speaker 1: the US starting in March of two. But looks like 141 00:08:31,760 --> 00:08:34,720 Speaker 1: investors not cutting under Armer too much slack today. I 142 00:08:34,760 --> 00:08:39,680 Speaker 1: just wanted to mention Exact Sciences now. Maybe not familiar 143 00:08:39,720 --> 00:08:43,079 Speaker 1: with Exact Sciences. The symbol e x A s the 144 00:08:43,200 --> 00:08:47,200 Speaker 1: stock up thirty percent today. Uh. This follows the release 145 00:08:47,200 --> 00:08:51,800 Speaker 1: of strong second quarter financial's number of record number of 146 00:08:52,080 --> 00:08:56,680 Speaker 1: completed colon cancer tests hit a record. Shares move higher. 147 00:08:56,679 --> 00:08:59,440 Speaker 1: They completed fifty four thousand what they describe as colo 148 00:08:59,559 --> 00:09:04,280 Speaker 1: guards s. These are tests that are alternatives to other 149 00:09:04,760 --> 00:09:09,000 Speaker 1: colon cancer screening options. Once again, the shares of Exact 150 00:09:09,240 --> 00:09:12,800 Speaker 1: Sciences higher by thirty percent today. Time now for the 151 00:09:12,840 --> 00:09:15,800 Speaker 1: Volatility Index report, brought to you by CBOA ex Options 152 00:09:15,800 --> 00:09:19,040 Speaker 1: and Futures. Volatility can be harnessed with cbo E VIX 153 00:09:19,080 --> 00:09:22,040 Speaker 1: options and futures, so see disclosures. Learn more at cbo 154 00:09:22,080 --> 00:09:25,840 Speaker 1: E dot Com slash powerful Outcomes VIX. We've been called 155 00:09:25,840 --> 00:09:29,040 Speaker 1: a powerful outcome today for the VIX, up point one 156 00:09:29,320 --> 00:09:32,000 Speaker 1: nine points to thirteen point oh six. And if we 157 00:09:32,320 --> 00:09:34,400 Speaker 1: step back though and look at what's been happening to 158 00:09:34,440 --> 00:09:37,800 Speaker 1: the VIX lately, let's put this in perspective. After closing 159 00:09:37,880 --> 00:09:41,000 Speaker 1: above twenty five just a month ago on June, the 160 00:09:41,080 --> 00:09:44,240 Speaker 1: VIX closed below twelve this past week and marked the 161 00:09:44,320 --> 00:09:47,560 Speaker 1: quickest decline from a twenty five plus reading down to 162 00:09:47,640 --> 00:10:03,120 Speaker 1: a sub twelve reading on record, Doctor Doctor, a bad 163 00:10:03,200 --> 00:10:06,200 Speaker 1: clay case of the blues at least for one stock. 164 00:10:06,280 --> 00:10:10,800 Speaker 1: And here to tell us more Joe Ciolia, Bloomberg News, 165 00:10:10,880 --> 00:10:14,160 Speaker 1: Sentene Corps. Wow, this is uh, well the health ensured. 166 00:10:14,800 --> 00:10:16,280 Speaker 1: You're going to tell us a story. This is a 167 00:10:16,320 --> 00:10:19,839 Speaker 1: bad deal for your owner of Sentien shares. Absolutely so. 168 00:10:19,960 --> 00:10:23,720 Speaker 1: We saw Sentene down today about eight and a half percent. 169 00:10:23,800 --> 00:10:26,080 Speaker 1: It was the biggest drop in the SMP five hundred 170 00:10:26,440 --> 00:10:29,280 Speaker 1: and Um. What we're seeing is, uh, they actually had 171 00:10:29,280 --> 00:10:32,640 Speaker 1: a really good earnings report today. They exceeded analyst estimates 172 00:10:32,800 --> 00:10:36,920 Speaker 1: and they saw profit growth. However, the catch was they 173 00:10:37,160 --> 00:10:39,760 Speaker 1: said they were setting aside at least three hundred million 174 00:10:39,800 --> 00:10:43,400 Speaker 1: dollars to account for underperforming health plans in several states. 175 00:10:43,840 --> 00:10:46,360 Speaker 1: And if you may recall, I can refresh your memory. 176 00:10:46,400 --> 00:10:48,360 Speaker 1: They bought this company called health Net last year for 177 00:10:48,360 --> 00:10:52,160 Speaker 1: about six point three billion dollars. And most of these territories, 178 00:10:52,360 --> 00:10:56,840 Speaker 1: including California, Arizona, and Oregon that are underperforming are actually 179 00:10:57,200 --> 00:10:59,800 Speaker 1: those that were included in that health Net deal. So 180 00:11:00,040 --> 00:11:02,560 Speaker 1: it's sort of a buyer beware situation. You know, they 181 00:11:02,800 --> 00:11:05,679 Speaker 1: forked over an awful lot of cash for UH for 182 00:11:05,720 --> 00:11:08,559 Speaker 1: these assets and not now they're getting kind of hit 183 00:11:08,600 --> 00:11:12,520 Speaker 1: on the way down there. They're seeing those underperforming and 184 00:11:12,559 --> 00:11:15,240 Speaker 1: they're needing to, you know, allocate extra funds to maybe 185 00:11:15,280 --> 00:11:18,800 Speaker 1: soften the blow of their underperformance. And um so what 186 00:11:18,840 --> 00:11:21,440 Speaker 1: we've seen here is the company's year to date stock 187 00:11:22,000 --> 00:11:24,719 Speaker 1: increase was it was at four coming into the day. 188 00:11:25,080 --> 00:11:27,840 Speaker 1: Uh yeah, that's been you know, chopped down to about 189 00:11:28,160 --> 00:11:30,520 Speaker 1: four and a half percent now, so that's lost about 190 00:11:30,520 --> 00:11:32,640 Speaker 1: ten percent of it's UH of its um year to 191 00:11:32,760 --> 00:11:35,200 Speaker 1: date gain, and so it's it's been a very very 192 00:11:35,200 --> 00:11:37,959 Speaker 1: bad day for your owners of centeen UH down eight 193 00:11:38,000 --> 00:11:41,840 Speaker 1: and a half percent. A bad day. Indeed, Thank you 194 00:11:41,960 --> 00:11:47,520 Speaker 1: very much, so Jo Cla. We thank you. We're gonna 195 00:11:47,520 --> 00:11:51,360 Speaker 1: be taking a look at Apples earnings. We're gonna preview them. 196 00:11:51,600 --> 00:11:56,480 Speaker 1: Coming up with Angelo Zeno from SMP Global Market Intelligence. 197 00:11:56,800 --> 00:11:59,920 Speaker 1: I'm Kathleen Hayes along with pim Fox. This is from 198 00:12:00,040 --> 00:12:07,880 Speaker 1: Break Bloomberg. Taking Stock is broughted by the Golf Club 199 00:12:07,880 --> 00:12:10,480 Speaker 1: at Chelsea Piers, where in New York City golfers learn, 200 00:12:10,559 --> 00:12:14,040 Speaker 1: practice and play. The golf club features a full hitting fairway, 201 00:12:14,120 --> 00:12:17,400 Speaker 1: teaching academy, simulators, and membership options. To learn more of 202 00:12:17,480 --> 00:12:20,200 Speaker 1: is at Chelsea Piers dot com.