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Speaker 1: Global business news twenty four hours a day at Bloomberg

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Speaker 1: dot com, the Radio plus mobile and on your radio.

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Speaker 1: This is a Bloomberg Business flag on Bloomberg World Headquarters.

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Speaker 1: I'm Charlie Pellett, folks from Chief Executive Group, ringing that

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Speaker 1: closing bell, and we are brought to you by Withem

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Speaker 1: Smith and Brown CPAs AUNT at Tax and Advisory Services.

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Speaker 1: To help your business be in a position of strength,

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Speaker 1: experience the withythem way by visiting withythem dot com. The

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Speaker 1: Dow Jones Industrial Average down seventy seven points to drop

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Speaker 1: of four tenths of one percent, stocks retreating from records

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Speaker 1: at the worst level of the session. The DAL have

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Speaker 1: been down as many as one hundred eighteen points. A

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Speaker 1: tumble in the price of crude oil sinking energy shares

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Speaker 1: today West Texas Intermediate now at forty three oh seven

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Speaker 1: to barrel, down a dollar twelve, that is a drop

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Speaker 1: of two and a half percent. Brent crude lower today

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Speaker 1: by two point two percent, forty four sixty at a

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Speaker 1: barrel gold down thirteen, a drop of seven tenths of

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Speaker 1: one percent. Verizon Communications buying Yahoo's web assets for four

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Speaker 1: point eight three billion dollars ending the company's two decade

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Speaker 1: run as an independent business. Colin Gillis is senior tech

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Speaker 1: analysts that b GC Partners. He was our guests this

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Speaker 1: afternoon right here on taking Stock. Well, you know, it's

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Speaker 1: out with a whimper, uh, and it will become folded

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Speaker 1: into Verizon. They suggested that the transaction will close in

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Speaker 1: the beginning of next year, and we'll see what happens

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Speaker 1: to the brand name itself. But Verizon is interested in

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Speaker 1: the piping, the ad technology that powers Yahoo as they

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Speaker 1: seek to get more into advertising, expand some of their

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Speaker 1: video offerings to become more than just a carrier that

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Speaker 1: competes on data and pricing. And Yahoo shares down two

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Speaker 1: points seven percent, Verizon down four tenths of one percent.

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Speaker 1: Sprint surging today eight up twenty seven point eight percent

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Speaker 1: as it had a sixth straight quarter of subscriber to gains.

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Speaker 1: SMP down six drop a point three the Dow down

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Speaker 1: a drop there of point four percent, four oh two

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Speaker 1: on Wall Street. Now, let's take a look at other

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Speaker 1: news from around the world on Bloomberg Radio. Thank you,

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Speaker 1: Charlie from the Bloomberg Newsroom. I'm Matt Miller. The FBI

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Speaker 1: is now investigating the League. Of those emails from the

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Speaker 1: Democratic National Committee, the League led to the resignation of

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Speaker 1: national Chairwoman Debbie Wasserman Schultz. Email showed that the committee

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Speaker 1: members favored Hillary Clinton and tried to undermine Bernie Sanders.

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Speaker 1: A cybersecurity firm that looked into the breach found traces

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Speaker 1: of hacking groups with ties to the Russian government. The

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Speaker 1: Democratic National Convention kicks off tonight in Philadelphia. Bloomberg Washington

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Speaker 1: Bureau chief Megan Murphy says the news that d n

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Speaker 1: C Chair Wasserman Schultz is resigning could loom large. It

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Speaker 1: does seem like something that wouldn't seem like it's a

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Speaker 1: wider entr us. But to have the chair of the

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Speaker 1: party's committee resigned on the even of the convention is

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Speaker 1: drama like we haven't seen it one of these conventions

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Speaker 1: in many years. It looks like the Democrats are going

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Speaker 1: to rival the Republicans for convention. Actually, that's full of news.

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Speaker 1: Baltimore Mayor Stephanie Rawlings Blake will gabble in the full

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Speaker 1: convention in place of the outgoing Wasserman Schultz. Meanwhile, a

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Speaker 1: new pole indicates Donald Trump got a post convention bounce.

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Speaker 1: The CNN O r C national survey has Trump leading

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Speaker 1: Hillary Clinton to thirty and Bill Braddon says he will

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Speaker 1: not remain commissioner of the New York City Police Department

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Speaker 1: past two thousand seventeen. An interview with The New York Times,

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Speaker 1: Bratton also left open the possibility that he could leave sooner.

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Speaker 1: Bratton is in his second stint as New York commissioner.

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Speaker 1: He led the department in the nineties and began serving

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Speaker 1: as Mayor Bill de Blasio's police commissioner in two thousand fourteen.

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

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

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Speaker 1: Matt Miller. This is Bloomberg, Charlie, and we thank you,

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Speaker 1: and again recapping the DAL the SMP NEZ stack all moving,

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Speaker 1: Laura in this Monday session SMP five hundred index down

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Speaker 1: six drop there of three tenths of one percent. I'm

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Speaker 1: Charlie Pellett and that's a Bloomberg business flash. Move around

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Speaker 1: most and create promotion app the elite move. Can you

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

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Speaker 1: fast hard people. Let's move like to get a purpose

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Speaker 1: he's called movers and shakers. They cost a little more

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Speaker 1: about that name. Cracked me up. Bloomberg taking stock Movers

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Speaker 1: and Shakers with Pim Fox and Kathleen As on Bloomberg Radio.

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Speaker 1: So we have modest climbs across the board and the

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Speaker 1: major market indexes on this Monday, we had two eight gainers,

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Speaker 1: two nine losers, eight stocks closing unchanged in the SP

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Speaker 1: five hundred. Joe Staley is back Bloomberg Stocks Reporter to

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Speaker 1: kick offf movers and shakers. First up, we have Roper Technologies.

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Speaker 1: This is the Sarasota, Florida based manufacture of industrial equipment.

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Speaker 1: They had quarterly earnings that fell short of analyst estimates

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Speaker 1: and uh is actually it's it's worst mis ever and

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Speaker 1: it's kind of out of the ordinary for this company.

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Speaker 1: It's just, uh, you know, the second time in the

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Speaker 1: last eleven periods they've they've missed analysts estimates. So something

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Speaker 1: being negatively digested by investors. Stock is down six. I'm

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Speaker 1: gonna tell you about the shares a Sprint up more

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Speaker 1: than twenty seven and a half percent, Yes, twenty seven

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Speaker 1: and a half percent gain for Sprint five dollars nine

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Speaker 1: cent shares of Sprint. They reverse to all of last

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Speaker 1: week's slide, mainly because of the quarterly earnings release. It

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Speaker 1: completely took Wall Street by surprise. There was a key number,

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Speaker 1: hundred and seven three thousand. That was how many net

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Speaker 1: post paid phone subscribers. This is the most profitable type

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Speaker 1: of customer. This is the customer that all cell phone

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Speaker 1: operators are looking for. Sprint added a hundred and seventy

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Speaker 1: three thousand of them during the quarter, and that's surprised

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Speaker 1: Wall Street as well as investors. Shares up more than

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Speaker 1: twenty seven and a half percent. Oh that's a that's

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Speaker 1: a nice move. Well, you know, but the retailers aren't

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Speaker 1: doing too well, too poorly. Today the SNPF hundred apparel

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Speaker 1: retail index hitting its highest intra day since April, versus

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Speaker 1: the SMP composite index excuse me, compositis down as much

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Speaker 1: as zero point six percent. What is going on for

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Speaker 1: one Urban Outfitters? They had their price target increased At

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Speaker 1: Deutsche Bank. They were saying that they maintained their hold,

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Speaker 1: but they up their second quarter estimate to fifty six

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Speaker 1: cents from fifty one cents. And in fact they see

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Speaker 1: upside risks on the stocks, including acceleration in top line

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Speaker 1: trends and UH. Meanwhile, Cohen pointed out that the decline

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Speaker 1: in sales for July are only two point one percent,

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Speaker 1: and that was better than June's three percent decline and

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Speaker 1: May six point four percent. So if you look at

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Speaker 1: urban outfitters up sharply nearly three percent, but also Macy's, Nords, Drums,

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Speaker 1: the whole whole sector has been lifted to day Joe

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Speaker 1: great and UH. And next we have ever Bank Financial Corp. Uh.

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Speaker 1: This is the the largest Florida bank, Florida based bank.

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Speaker 1: It's up about today. UH. It's receiving sale interests UM

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Speaker 1: from a potential suitor. It's been working with ubs to

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Speaker 1: solicit offers from potential buyers and UM. And really what

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Speaker 1: we're seeing here is this this effect of of UM,

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Speaker 1: I guess acquisition interests goosing a stock price up a

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Speaker 1: little bit. Maybe people trying to get ahead of any

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Speaker 1: sort of announcement that maybe forthcoming pricing to the market. Uh.

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Speaker 1: Like I said about and that news was broken by

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Speaker 1: our own Matthew Monks. Let's talk about the shares a

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Speaker 1: Pandora media talking about potential emergency acquisitions at the stock

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Speaker 1: of Pandora Media up five and a half percent today.

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Speaker 1: They have hired Center View Partners to advise on what

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Speaker 1: they called strategic options, and are trying to make nice

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Speaker 1: with activist investor Corvex Management LP. This all according to

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Speaker 1: people familiar with the matter. Corvex is the hedge fund

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Speaker 1: is run by Keith Meister. They disclosed a nine point

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Speaker 1: nine percent stake in Pandora in May and they have

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Speaker 1: been pushing the company to explore a sale once again.

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Speaker 1: Shares a Pandora Media up five and a half percent. Well,

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Speaker 1: a nice move up for Micron Technology, the largest US

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Speaker 1: memory chip maker, up as much as nine percent in

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Speaker 1: fact at the close now up six percent, so off

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Speaker 1: the highs. But it took steps to make a takeover

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Speaker 1: more difficult. It's myke Its board of directors adopted a

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Speaker 1: poison pill. Of course, this is a rights issues that

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Speaker 1: would be triggered if an individual or group acquires four

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Speaker 1: point more of the company's out standing stock, and this

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Speaker 1: has rekindled speculation that the company could be a takeover

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Speaker 1: target and acquire from China or Intel, which has a

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Speaker 1: joint venture with my Con, would be the most likely buyers.

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Speaker 1: According to our Bloomberg story and offer from either wouldn't

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Speaker 1: be straightforward and is unlikely to happen anytime soon, according

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Speaker 1: to Colin and Company. Well, I'll tell you about the

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Speaker 1: shares of GILLIAD. They are down one and a half

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Speaker 1: percent and after hours trading has comes after the company

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Speaker 1: reports second quarter results that exceeded analysts estimates are earnings

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Speaker 1: per share of three dollars and eight cents versus estimates

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Speaker 1: of three dollars and two cents. We'll be watching more

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Speaker 1: for details of a gilly and also will be getting

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Speaker 1: results from Las Vegas Sands, Express Scripts and Texas Instruments.

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Speaker 1: All right, it's time now for the Volatility Index Report.

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Speaker 1: It is brought to you by cbo E vis Options

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Speaker 1: and Futures SE disclosures. Learn more at cbo e dot

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Speaker 1: com Slash Powerful Outcomes VIX. Now, the VIX moved higher today.

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Speaker 1: It was up more than eight and a half percent.

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Speaker 1: The VIX higher by one point oh three. It's settled

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Speaker 1: at thirteen point oh five. And I'm gonna be taking

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Speaker 1: a line from Randy Frederick, who is the managing director

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Speaker 1: of Trading and Derivatives at the Schwab Center for Financial Research.

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Speaker 1: He was speaking with Carol Masser earlier today on Bloomberg Radio,

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Speaker 1: and he was talking about how the decline that happened

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Speaker 1: in the VIX today following the twelve noon period bodes

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Speaker 1: well for a bounce in the SMP five hundred tomorrow.

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Speaker 1: The Beatles can't buy Me Love and that applies to

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Speaker 1: Josie's stock of the day as well. Yeah. So, um,

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Speaker 1: this is the Trade Financial What they did is that

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Speaker 1: they bought for seven five million dollars in cash. Uh.

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Speaker 1: This company Aperture New Holdings, Inc. Otherwise known as the

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Speaker 1: parent of Options House, which is the Chicago based options brokerage.

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Speaker 1: And um, what we're seeing here is uh, the company

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Speaker 1: most well known for its talking baby at campaign. Uh,

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Speaker 1: you know, going for the derivatives investor, you know, people

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Speaker 1: that might want to dabble in some some easy trading

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Speaker 1: of of options and derivative contracts. And um, what what

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Speaker 1: it does is it expands, Um that subscriber base for

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Speaker 1: the Trade Options House before the acquisition had about a

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Speaker 1: hundred fifty thousand customer accounts with over three billion dollars

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Speaker 1: in customer assets. So looking for a little synergy there.

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Speaker 1: Thanks very much Bloomberg Stocks reporter giving us his stock

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Speaker 1: of the day. This is taking stock. I'm pimpox my

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Speaker 1: co host, Kathleen Hayes. This is Bloomberg Lumber. Taking Stock

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Speaker 1: is brought to you by New York Community Bank. Asked

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