Speaker 1: Broadcasting live to New York, Bloomberg eleventh to Washington, d C,
Speaker 1: Bloomber to Boston, Bluemberg twelve under to San Francisco, Bloomberg
Speaker 1: to the country sum General one nine and around the
Speaker 1: globe the Bluemberg Radio plus Dappen Bloomberg dot Com. This
Speaker 1: is taking Stock, coming up on taking stock bio based products,
Speaker 1: new solutions for pest control along with increased plant health
Speaker 1: and increased crop yields, all using a patent portfolio. We've
Speaker 1: got details. Oh and I love these new pesticides pin
Speaker 1: because they're not harmful to bees, and bees are so important.
Speaker 1: If they disappear, look out planet Earth. Well, let's get
Speaker 1: to the news room now. Charlie Pellett is back with
Speaker 1: a Boomberg business lash and I thank you, Kathleen, thank you, Pim.
Speaker 1: We've got stocks buzzing high right now, with the SMP
Speaker 1: up ten to five, a gain there of five tenths
Speaker 1: of one percent, and has a stack up twenty five
Speaker 1: to fifty two twenty nine, a gain of five tenths
Speaker 1: of one percent down. Industrials up one hundred and sixteen
Speaker 1: points to eighteen thousand, six hundred eleven, a gain there
Speaker 1: of six tenths of one percent. Stocks trading in record
Speaker 1: territory after a batch of surprising earnings. Macy's, for example,
Speaker 1: surging seventeen point five percent after it beat estimates. Retailers
Speaker 1: leading gains in US stocks, Energy companies rallying along with
Speaker 1: the price of crude. West Texas Intermediate crude up three
Speaker 1: point nine percent, up a dollar sixty one a barrel
Speaker 1: to forty three dollars and thirty two cents. What about
Speaker 1: the interest rate environment? Kate Warren is investment strategists at
Speaker 1: Edward Jones, and she spoke this morning with Tom Keane
Speaker 1: on Bloomberg surveillance. I think inslation is beginning to pick up,
Speaker 1: and we actually will see long term rates start to
Speaker 1: rise as bond markets reflective slightly higher inflation rates. But
Speaker 1: I think the Fed is very much waiting for better
Speaker 1: economic growth and numbers. We've got the tenure down twenty
Speaker 1: on thirty seconds, the yield there one point five six percent.
Speaker 1: Records in US stocks getting harder for strategists to ignore.
Speaker 1: Wells Fargo become becoming just the second of twenty one
Speaker 1: firms tracked by Bloomberg to raise its target for the
Speaker 1: SMP five hundred index, since the measure surged past the
Speaker 1: group's average year end prediction a month ago. Gina Martin Adams,
Speaker 1: the bank's chief US equity strategist, now expects the benchmark
Speaker 1: for US stocks to climb to twenty two hundred in
Speaker 1: twelve months. Again. The SMP five hundred index now at five,
Speaker 1: up today by five tenths of one percent. Gold down
Speaker 1: eight dollars. The ounce the thirteen thirty nine, the drop
Speaker 1: of six tenths of one percent three thirty two on
Speaker 1: Wall Street. Now the other stories making news. Thank you
Speaker 1: Charlie from the Bloomberg Newsroom. I'm a Lisa PARENTI. This
Speaker 1: news update is brought to you by Blue Jeans Enterprise
Speaker 1: Video Cloud. See faces, emotions, Energy, see the people your
Speaker 1: team's video from any device. Start a free thirty day
Speaker 1: trial at blue jeans dot com and click the radio Mike,
Speaker 1: Blue Jeans, Work Smarter, Connect Better. Democratic presidential candidate Hillary
Speaker 1: Clinton unveiled her economic plan in Michigan today. Clinton took
Speaker 1: the chance to attack her Republican rival. I know my
Speaker 1: opponent in this election was here in Michigan about a
Speaker 1: week ago, and it was like he was in a
Speaker 1: different place when he visited Detroit on Monday. He talked
Speaker 1: only a failure poverty and crime. He is missing so
Speaker 1: much about what makes Michigan great. Meanwhile, Donald Trump is
Speaker 1: pledging to limit what he called horrible regulations facing the
Speaker 1: home builder industry. Today in Miami, he talked about the
Speaker 1: difficulty for prospective buyers to get mortgages. He also called
Speaker 1: for a major simplification of the tax code. Swedish prosecutors
Speaker 1: will get to question Wiki Leaks founder Julian Assange about
Speaker 1: rape allegations. They'll meet at Ecuador's embassy in London, where
Speaker 1: Sange has been holed up since he to go to
Speaker 1: Sweden fearing extradition to the US. And New York is
Speaker 1: awarding more than eight million dollars in legal help for
Speaker 1: people who have been denied federal disability benefits. State officials
Speaker 1: say the federal appeals process can be difficult, but seventy
Speaker 1: three of those who receive legal help in New York
Speaker 1: recently were awarded federal disability benefits. Global News twenty four
Speaker 1: hours a day, powered by more than twenty d journalists
Speaker 1: and analysts and more than one hundred twenty countries. I'm
Speaker 1: a Lisa PARENTI This is Bloomberg, Charlie, and we thank you,
Speaker 1: and we're brought to you by Sector Spider e t
Speaker 1: f S. Why buy a single stock when you can
Speaker 1: invest in the entire sector of visits sector sp d
Speaker 1: rs dot com or call sector e t F again
Speaker 1: recapping stocks trading at a record SMP up eleven six,
Speaker 1: a gain of five tenths of one percent. I'm Charlie Pellet.
Speaker 1: That's a Bloomberg business flash. He's taking stuff with Kathleen
Speaker 1: Hayes and Pim Fox One Word Radio. Are you one
Speaker 1: of many, not only Americans, but people around the world
Speaker 1: who are concerned about pesticides, about chemicals on the food
Speaker 1: that is grown to take to their table for dinner. Well,
Speaker 1: if you are concerned about that, and if you're an
Speaker 1: investor as well, you might want to be uh very
Speaker 1: focused on our next guest enter biopesticides and Dr Pam Maron.
Speaker 1: She's founder and CEO of Marone Bio Innovation. She's joining
Speaker 1: us today from Davis, California, which is about twenty minutes
Speaker 1: from Sacramento, very important agricultural area of this country. Dr Maron, welcome,
Speaker 1: Thank you. So first of all, tell us what our biopesticides.
Speaker 1: So these are naturally occurring products. They're derived from natural substances,
Speaker 1: could be naturally occurring bacteria or mold or extracts of plants,
Speaker 1: and they non toxic, low risk. What are they made of,
Speaker 1: I mean, so they could be um an actual plant
Speaker 1: that you extract from. So you could dry take a
Speaker 1: like we have a product that actually is from not weed,
Speaker 1: and you dry the not weed, You harvest the notweed wild,
Speaker 1: you dry it and then you put it in a
Speaker 1: big vat of alcohol and um hot alcohol, and then
Speaker 1: and then for thirty minutes you come out and extract
Speaker 1: um like like you're making a tincture, you know, for
Speaker 1: your own self from lavender or something like that. But
Speaker 1: then these pesticiddle compounds, natural products that come out of
Speaker 1: that extract you can spray on the crop and ward
Speaker 1: off potty milk jewics and increase your growth and yields
Speaker 1: of crops. Can we just put aside the technology and
Speaker 1: the science for just a second. I want to ask
Speaker 1: a little bit about the financials of the company. Why
Speaker 1: go public at this stage, because I mean, looking at
Speaker 1: the stock, it's down about six percent year to day,
Speaker 1: and it's got a market cap of about twenty million.
Speaker 1: Why go public at such a point, wouldn't it. I
Speaker 1: always thought the company would go public after they were
Speaker 1: UH law archer and more profitable and and and had
Speaker 1: a wider distribution network. So when we went public in
Speaker 1: twenty thirteen, things looked great for the company and UM,
Speaker 1: you know, all systems go and we thought we could, um,
Speaker 1: UH will be the pure We're only a pure play.
Speaker 1: We're the only pure play biopas side coming on the market,
Speaker 1: and it would give us greater access to capital and
Speaker 1: grow faster and H Then there were a series of
Speaker 1: events that UH caused a restatement of the of the
Speaker 1: of our financials and I don't really want to get
Speaker 1: into that, and UH drove the stock down. UM, so
Speaker 1: it took a little rebuilding of the company, and which
Speaker 1: is where we are today. And we're building momentum upon
Speaker 1: some negative past events and we're back. So who who
Speaker 1: are your competitors in this field? Well, we have some
Speaker 1: very large companies. They would be like there and B
Speaker 1: s F and du Pont and they're also developing biopaths
Speaker 1: decide they're selling chemicals, but they have some of them
Speaker 1: have made acquisitions Biopest side companies because of the growth
Speaker 1: in this segment and that you can't meet all of
Speaker 1: customer needs with chemicals. For example, um global movement of
Speaker 1: food that foods gets moved around globally and consumers don't
Speaker 1: like chemical pest side residues on their food. So our
Speaker 1: products can be used right up to harvest and you
Speaker 1: don't have to worry about chemical residues because they don't
Speaker 1: leave chemical residues. So so that provides an opportunity where
Speaker 1: a chemical can't. As far as the business of these
Speaker 1: kinds of bio of products, does it really depend on
Speaker 1: having the right patent library. All of the products in
Speaker 1: this industry are generally patented, so there's this extreme amount
Speaker 1: of intellectual property and patents behind our products. So we
Speaker 1: actually do patent the substance, the natural occurring substance that
Speaker 1: we find, so someone can't then just take it and
Speaker 1: duplicate it. Yeah, so where do you go next? Do
Speaker 1: you do you continue to expand what you have? Uh?
Speaker 1: Do you develop new products? Is it marketing? It seems
Speaker 1: to me like as I said, there's a growing demand
Speaker 1: for this kind of product right there is hugely growing
Speaker 1: and I think to me, it's kind of hyperbolic so
Speaker 1: what do how do you capture that? Well, it is
Speaker 1: come it does come down with our products. So we
Speaker 1: focus on what are unmet needs in the marketplace, So
Speaker 1: what do the growers want, and that would be um
Speaker 1: new solutions for something like nematodes. Nematodes are round worms
Speaker 1: that feed on the roots of plants. So we are
Speaker 1: discovery operations swung into action and we discovered a bacteria,
Speaker 1: a new species that produces substances that kill these roundworms.
Speaker 1: So you can apply it in the soil and it
Speaker 1: gives a healthier plant and kills the nematodes and much
Speaker 1: better yield of more fruit and more vegetables. So it
Speaker 1: comes through innovation. So that's our company by having multiple
Speaker 1: products and kill insects, kill nematodes, kill plant diseases, and
Speaker 1: we are working on a weed killer, which is really
Speaker 1: important for both organic and um traditional farming because for organic,
Speaker 1: one of the reasons the cost of organic is so
Speaker 1: high is because the cost of weed control it's really
Speaker 1: hard with organic. And then on the traditional side, weeds
Speaker 1: have developed resistance to the chemical herbicides and we're going
Speaker 1: to try to solve that solution as well. Thank you
Speaker 1: very much for coming in and giving us this insight
Speaker 1: into a new and uh we help burgeoning market. Dr
Speaker 1: Pam Maron is the founder and the chief executive of
Speaker 1: Marone Bio Innovations. They are based in Davis, California. This
Speaker 1: is taking Stock. I'm Pim Fox. My co host Kathleen
Speaker 1: Hayes coming up. We'll be speaking about your money. We've
Speaker 1: got Oliver Chen he is the senior retail analyst at
Speaker 1: Cowen and Company. We're gonna give you some detail about retail. Macy's.
Speaker 1: The shares higher today by more than fifteen percent after
Speaker 1: announcing that they will close about one hundred stores. This
Speaker 1: is Bloomberg m H. Bloomberg. Taking Stock is brought to
Speaker 1: you by your Mercedes Benz Tri State deal of the
Speaker 1: Mercedes has been certified pre owned sales event this months.
Speaker 1: Take advantage of limited time offers on the vehicle of
Speaker 1: your dreams sorted more at nbus dot com slash Sea