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Speaker 1: Global business news twenty four hours a day. If Huberg

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Speaker 1: dot COM's the radio plus Globo last and on your radio.

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Speaker 1: This is a Broomberg Business Flash from Bloomberg World Headquarters.

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Speaker 1: I'm Charlie Pelliper. You have its sound of the closing

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Speaker 1: bell at the New York Stock Exchange as we wrap

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Speaker 1: up trading on this Tuesday, June twenty one, folks from

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Speaker 1: Alzheimer's Awareness ringing the closing bell, back to back gains

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Speaker 1: for stocks higher in three of the last four sessions.

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Speaker 1: And we are brought to you by Brooks Brothers Big Event.

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Speaker 1: There's semi annual sale going on now through June. Shop

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Speaker 1: early for the best selection. Visit Brooks Brothers dot com

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Speaker 1: to shop the entire collection or to find the location

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Speaker 1: closest to you. Stocks advanced with sentiments susceptible to swings

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Speaker 1: before Thursday's vote the Thursday on Britain's European Union membership,

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Speaker 1: Energy producers, tech companies leading the SMP five hundred index

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Speaker 1: higher Today fedg haired Janet Yellen offered a subtle change

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Speaker 1: to her outlook from less than a week ago, saying

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Speaker 1: she and her colleagues were on watch for weather rather

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Speaker 1: than when the U S economy would show clear signs

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Speaker 1: of improvement. Bob doll Is with now Vine Asset Management.

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Speaker 1: He was interviewed moments ago right here on taking Stock.

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Speaker 1: Heard from Jenny Ellen this morning, and she's indicated, Look,

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Speaker 1: they want to raise rates, but the conditions have to

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Speaker 1: be right. Brexit is one of them. If Brexit, Brexit happens,

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Speaker 1: I think there's no way they'll go in July. If

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Speaker 1: Brexit doesn't, that's sell the first check mark, and then

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Speaker 1: we have to reverse the horrible employment report we saw

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Speaker 1: at the beginning of this month, for the month of May,

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Speaker 1: and then that gives us the opportunity to consider raising

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Speaker 1: rache The ten year down four thirty seconds, looking at

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Speaker 1: the yield of one point seven percent, gold tumbling twenty

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Speaker 1: three sixty ounce to twelve sixty eight, a drop of

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Speaker 1: one eight percent, Crude oil down fifty two cents a

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Speaker 1: barrel or dropped there of one point one percent, and

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Speaker 1: natural gas up today by six tenths of one percent.

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Speaker 1: So again, recapping SMP five hundred index up five to

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Speaker 1: two thousand again today of three tenths of one percent

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Speaker 1: four O two on Wall Street. Now, let's take a

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Speaker 1: look at other news from around the world. Charlie, thank

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Speaker 1: you from the Bloomberg newsroom. I'm Mark Crumpton. Hillary Clinton's

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Speaker 1: as a Donald Trump presidency would throw the United States

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Speaker 1: back into recession. Mrs Clinton spoke to supporters in the

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Speaker 1: battel ground state of Ohio, think that because he has

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Speaker 1: spent his life as a businessman, he'd be better prepared

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Speaker 1: to handle the economy. Well, it turns out he's dangerous

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Speaker 1: there too. Just like he shouldn't have his finger on

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Speaker 1: the button, he shouldn't have his hands on our economy.

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Speaker 1: The Bill Hillary and Chelsea Clinton Foundation was among the

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Speaker 1: organizations breached by suspected Russian computer records. That's according to

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Speaker 1: people familiar with the matter, but a spokesman for the

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Speaker 1: foundation said he wasn't aware of any breaches. Prime Minister

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Speaker 1: David Cameron is urging his fellow Britons to vote to

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Speaker 1: stay in the European Union. Mr Cameron said a Brexit

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Speaker 1: vote would be bad for the British economy and banned

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Speaker 1: for national security. I've seen it's time and again at

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Speaker 1: a very practical level that we are safer in Europe.

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Speaker 1: Then the so called Brexit REFERENDUMUS Thursday, The Rolling Stones

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Speaker 1: are bringing an exhibit of more than five hundred recordings

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Speaker 1: and artifacts, including guitars, costumes, and personal diaries from the

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Speaker 1: band's archive to New York in November. Exhibitionism was launched

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Speaker 1: in London in April. This follow will mark the exhibits

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Speaker 1: North American debut at the Industrial super Studio in the

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Speaker 1: West Village. Tickets go on sale in September. Global News

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

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Speaker 1: journalists and analysts and more than one hundred countries. I'm

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Speaker 1: more Crumpton. This is Bloomberg, Charlie, and we thank you

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Speaker 1: it again. Recapping stocks higher SMP advancing five points to

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Speaker 1: two thousand eighty eight, back to back gains up today

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Speaker 1: by three tenths of one percent. I'm Charlie Peloton. That's

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Speaker 1: a Bloomberg business flash move around. Motion creates promotion. I

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Speaker 1: move you moved like they do. I've never seen anyone

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Speaker 1: move that back hired people. Let's moved like to get

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Speaker 1: a purpose. That was called movers and shakers. They cost

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Speaker 1: a little more. That name cracked me up. Bloomberg taking

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

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Speaker 1: on Bloomberg Radio Bloopers and Shakers for Tuesday, June twenty

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Speaker 1: six the constituents of the SMP five hundred, three hundred

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Speaker 1: and eleven issues moving higher, one hundred and eighty eight declines,

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Speaker 1: and six remain unchanged. Dave Wilson, Bloomberg Stocks Columist joins

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Speaker 1: us now to begin our movers and Shakers. Dave, wasn't

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Speaker 1: a great day to be in the autoparts business. I'll

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Speaker 1: tell you that PIM Bank of America Merrill Lynch cut

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Speaker 1: its auto industry sales estimates through eighteen. They also brought

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Speaker 1: down ratings on five stocks. One of them was Borg Warner,

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Speaker 1: which was one of the day's worst performers in the

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Speaker 1: SMP five hundred. That stock down almost four percent, American

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Speaker 1: actual manufacturing down about six percent, Lear down almost three percent,

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Speaker 1: metal dying performance down five point seven percent. All those

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Speaker 1: stocks cut to neutral from by at the Bank of

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Speaker 1: American Merrill Lynch, and they also reduced another company, Cooper Standard,

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Speaker 1: to the equivalent of self from Hold and Cooper Standard

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Speaker 1: Chairs following three percent on the day. Well, speaking of colors,

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Speaker 1: Dave Wilson CarMax, which as you know, is the largest

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Speaker 1: US seller of used autos is closing down by nearly

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Speaker 1: five percent today forty eight dollars and change. It's uh

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Speaker 1: the most and more than two months now. Your report

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Speaker 1: of first quarter revenue and profit, the trailed estimates sales

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Speaker 1: growth with this was the slowest in nearly six years.

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Speaker 1: Cost Rows. I think what's so interesting here is that

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Speaker 1: Seth Basham at Wedbush Securities, where he's an analyst who

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Speaker 1: covers CarMax, notes that it's getting a smaller portion of

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Speaker 1: its sales from sub prime customers because of slower traffic

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Speaker 1: and tightening credit. He says, over the last few years,

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Speaker 1: we've seen very easy credit to those types of buyers

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Speaker 1: and that has probably pulled a lot of sales forward.

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Speaker 1: So we're seeing a little bit lower demands. Subprime auto sales,

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Speaker 1: of course, have become a bigger part of the market

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Speaker 1: and a bigger question as well. But CarMax bearings the

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Speaker 1: brunt of some of that. To Dave him, let me

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Speaker 1: tell you about the shares of Adobe, mainly because they

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Speaker 1: just released their quarterly results. The shares and after hours

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Speaker 1: trading down a little bit more than one percent. This

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Speaker 1: desp the company reporting record revenue. Company comes in and

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Speaker 1: says that second quarter adjusted earnings per share was seventy

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Speaker 1: one cents. The estimate was for sixty eight cents, revenue

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Speaker 1: matching estimates at one point four billion. But right now

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Speaker 1: shares of Adobe down about nine tenths of a percent.

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Speaker 1: We'll watch the share movement in after hours trading. Well,

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Speaker 1: we definitely had some movement on the deal front. Energy

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Speaker 1: Transfer Equity, which is uh. They've been trying since last September.

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Speaker 1: At least they made a deal last September to buy Williams.

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Speaker 1: So he's talking about a couple of pipeline companies back

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Speaker 1: they're getting together. I mean since then, their share prices

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Speaker 1: have fallen. They've gone back and forth against each other,

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Speaker 1: claiming they didn't live up to the terms of the deal.

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Speaker 1: Energy Transfer saying, you know that the purchase can't be

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Speaker 1: completed because it hasn't been designated as tax free. Well,

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Speaker 1: Delaware judge heard arguments between the two companies and said

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Speaker 1: it matters whether attorneys raised this tax issue in good

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Speaker 1: faith and the idea that maybe Energy Transfer can get

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Speaker 1: out from under I mean, if it doesn't close in

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Speaker 1: a week, they're able to walk away and not pay

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Speaker 1: any penalty. Energy Transfer shares were up almost seventeen and

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Speaker 1: a half percent in today's trading, and Williams was one

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Speaker 1: of the worst performers on today and the SMP by

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Speaker 1: a hundred. That's stocked down almost three percent. Interesting that

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Speaker 1: Lenar is actually closing a little bit lower today because

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Speaker 1: they had some actually pretty good news. They're down about

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Speaker 1: one percent, and that's in spite of the fact that

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Speaker 1: they reported physical second quarter earnings that beat analysts estimates.

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Speaker 1: A lot of focus on the improving job job market

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Speaker 1: boosting confidence, but in fact, I think it's so important

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Speaker 1: for Lenar is that they have been able to operate

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Speaker 1: with relatively large profit margins because they were smart they

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Speaker 1: loaded up on land at distress prices after the real

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Speaker 1: estate crash, and they have lots of divisions like multi

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Speaker 1: family and commercial, real estate, asset management, and finance that

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Speaker 1: have been fitting from that well. They mentioned on their

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Speaker 1: conference call that they're operating margin maybe down as much

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Speaker 1: as half a percentage point for the year, and that's

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Speaker 1: a contrast to what happened under first and second fiscal

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Speaker 1: quarters because that watching actually rose. So that may wait.

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Speaker 1: We'll explain why the shares move lower after initially rising

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Speaker 1: in response to the results. I'm just going to tell

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Speaker 1: you quickly about opt go Health a symbol o p K,

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Speaker 1: mainly because Dr Phil Frost, the chief executive and the

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Speaker 1: founder of opt go Health, previously been a guest on

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Speaker 1: taking stock. Shares of opt go Health up today by

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Speaker 1: more than five and a half percent. This after the

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Speaker 1: Food and Drug Administration approving its drug called rail D,

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Speaker 1: and it is designed to treat hyper parathyroidism. Now you

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Speaker 1: have to recall that back in March of the drug

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Speaker 1: rail D was initially rejected by the FDA, but today

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Speaker 1: it was approved. Shares of up go Health higher by

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Speaker 1: five and a half percent, and PIM this is justifying

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Speaker 1: Dr frost optimism that it would make get that approval

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Speaker 1: when he joined us. As you said just last week

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Speaker 1: on taking stock. Now it's time for the Volatility Index Report,

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Speaker 1: brought to you by cbo eve ex Options and Futures volatil.

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

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Speaker 1: Slash Powerful outcomes fixed well. The vix UH eating out

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Speaker 1: a small gain. It's closing up about a tenth of

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Speaker 1: a point at eighteen point four nine. Now it's recovering

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Speaker 1: from a small drop to eighteen point to eight today,

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Speaker 1: which would have been the biggest backpack drop in three weeks.

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Speaker 1: But with Brexit ahead in the Brexit vote, we may

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Speaker 1: see some increased volatility in that index. All right, Dave,

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Speaker 1: you're up. H Hi, my name is Dave. Just what

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Speaker 1: do you think you're doing today? We're going for Dave. Hey,

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Speaker 1: Mr Wilson, tell us about your stock of the day

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Speaker 1: has to do with Elliott Associates. That's right, I mean

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Speaker 1: billionaire pulse singers. Firms had a busy week and it's

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Speaker 1: only Tuesday. First there was Dell's deal to sell a

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Speaker 1: software unit to the activist investor's new private equity arm

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Speaker 1: and the buy out firm Francisco Partners. Then came Elliott's

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Speaker 1: disclosure of a nine percent stake in a security software maker, Imperva.

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Speaker 1: Now this company has been publicly traded since November. Tickers

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Speaker 1: I m p D company shares peak glass November after

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Speaker 1: one of quadrupling from the initial price. Then they tell

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Speaker 1: me as much as six as the two most recent

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Speaker 1: earnings reports proved disappointing. Now Elliott disclosed it's impervot Steak

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Speaker 1: in a filing late yesterday. Uh filing referred to IMPERVAT

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Speaker 1: as materially undervalued. Elliott said it's begun talks with the

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Speaker 1: board about ways to lift the stock price and the

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Speaker 1: arrival of singers. Firm sent shares have been Pervert to

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Speaker 1: their biggest one day game since October. They climbed almost

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Speaker 1: twelve and a half percent. Dave Wilson, thank you so

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Speaker 1: very much our stock center joining us on movers and

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Speaker 1: shakers on taking stock. You can follow him at the

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Speaker 1: one Dave on Twitter. I'm Kathleen Hayes along with pim

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Speaker 1: Fox and this is taking stock on Bloomberg Radio. Yeah, Bloomberg.

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Speaker 1: Taking Stock is brought to by Bentley University. What do

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