1 00:00:03,080 --> 00:00:06,480 Speaker 1: Global business news twenty four hours a day at Bloomberg 2 00:00:06,480 --> 00:00:12,080 Speaker 1: dot dot So. Radio plus Mobile is a Bloomberg Business 3 00:00:11,760 --> 00:00:16,240 Speaker 1: bom Bloomberg World Headquarters, Signed Charlie Pellet. The DAL, the SMP, 4 00:00:16,480 --> 00:00:20,400 Speaker 1: nez DAK all advancing today a record closed on the 5 00:00:20,600 --> 00:00:24,759 Speaker 1: SMP five hundred index, up ten to eighty five, again 6 00:00:24,800 --> 00:00:28,680 Speaker 1: there of five tenths of one percent. Also records today 7 00:00:28,720 --> 00:00:31,159 Speaker 1: for the down Jones Industrial Average up one hundred and 8 00:00:31,200 --> 00:00:35,720 Speaker 1: sixteen points to eighteen thousand, six hundred twelve, again there 9 00:00:35,840 --> 00:00:39,200 Speaker 1: of six tenths of one percent. And this update brought 10 00:00:39,240 --> 00:00:41,680 Speaker 1: to you by E t F Exchange sixteen b n 11 00:00:41,840 --> 00:00:46,559 Speaker 1: y Melon's Annual et F Symposium September nine to the 12 00:00:46,600 --> 00:00:50,159 Speaker 1: twenty one in Dana Point, California, a must attend for 13 00:00:50,520 --> 00:00:53,360 Speaker 1: r I A s. Space is limited, so register now 14 00:00:53,440 --> 00:00:57,440 Speaker 1: at b n y melon dot com slash e t 15 00:00:57,960 --> 00:01:01,800 Speaker 1: f SO, The DAL, the SMP and NESDAC all closing 16 00:01:01,800 --> 00:01:06,640 Speaker 1: at records first time since nine Q the Prince Music 17 00:01:06,840 --> 00:01:10,679 Speaker 1: that the indexes have all risen together to records. SMP 18 00:01:10,840 --> 00:01:13,720 Speaker 1: again up ten to our record five, a gain there 19 00:01:13,760 --> 00:01:16,920 Speaker 1: of five tenths of one percent. One of today's stock 20 00:01:17,040 --> 00:01:22,240 Speaker 1: standouts Macy's up seventeen point one percent of five dollars 21 00:01:22,280 --> 00:01:26,119 Speaker 1: eighty three cents to thirty eight three. Oliver Chen covers 22 00:01:26,160 --> 00:01:28,400 Speaker 1: retail for Coward and Company, and he was our guest 23 00:01:28,480 --> 00:01:31,720 Speaker 1: moments ago right here on taking stock. There is a 24 00:01:31,760 --> 00:01:35,160 Speaker 1: bit of a retail revolution because quite simply on the 25 00:01:35,240 --> 00:01:39,200 Speaker 1: customers have been moving faster than retailers and what customers want, 26 00:01:39,600 --> 00:01:42,679 Speaker 1: and the biggest problem is just getting people to walk 27 00:01:42,720 --> 00:01:46,560 Speaker 1: into stores. There's so many distractions there. It's so much 28 00:01:46,600 --> 00:01:49,720 Speaker 1: easier to shop online now, and people have stores in 29 00:01:49,760 --> 00:01:52,560 Speaker 1: the problems of their hands. And at Macy's second quarter 30 00:01:52,600 --> 00:01:55,600 Speaker 1: profit and revenue top to analysts estimates as new sales 31 00:01:55,640 --> 00:01:59,400 Speaker 1: events drew shoppers. The tenure down twenty thirty seconds had 32 00:01:59,480 --> 00:02:03,000 Speaker 1: yield one point five six percent. Oil also lifting equities 33 00:02:03,040 --> 00:02:06,240 Speaker 1: to records today Crude oil West Texas Intermediate up four 34 00:02:06,280 --> 00:02:10,480 Speaker 1: percent forty barrel on w t I, Gold down eight 35 00:02:10,560 --> 00:02:15,480 Speaker 1: sixty ounce, down six tenths one percent four oh two 36 00:02:15,520 --> 00:02:17,639 Speaker 1: on Wall Street. Now a look at the other stories 37 00:02:17,720 --> 00:02:22,639 Speaker 1: making news, Charlie. Thank you from the Bloomberg newsroom. I'm 38 00:02:22,639 --> 00:02:25,119 Speaker 1: Mark Crumpton. This news update is brought to you by 39 00:02:25,200 --> 00:02:29,720 Speaker 1: Jaguar Manhattan visit Jaguar Manhattan today, where New York goes 40 00:02:29,760 --> 00:02:33,920 Speaker 1: for luxury, conveniently located at fifty four and eleventh Avenue 41 00:02:33,960 --> 00:02:38,400 Speaker 1: and online at Jaguar Manhattan dot com. Jaguar Manhattan is 42 00:02:38,680 --> 00:02:42,240 Speaker 1: at your service. Hillary Clinton presented key aspects of her 43 00:02:42,280 --> 00:02:45,680 Speaker 1: economic plan today during a speech in Warren, Michigan. She 44 00:02:45,800 --> 00:02:49,800 Speaker 1: also addressed controversial trade deals. HI message to every worker 45 00:02:49,840 --> 00:02:53,880 Speaker 1: in Michigan and across America is this, I'd will stop 46 00:02:53,919 --> 00:02:57,840 Speaker 1: any trade deal that kills jobs or holds down wages, 47 00:02:58,040 --> 00:03:04,600 Speaker 1: including the Trans Pacific Partnership. Donald Trump not letting up 48 00:03:04,600 --> 00:03:08,000 Speaker 1: on his attacks against Mrs Clinton and President Obama. During 49 00:03:08,040 --> 00:03:11,600 Speaker 1: a campaign appearance in Florida, Trump again linked the pared 50 00:03:11,639 --> 00:03:15,680 Speaker 1: to the creation of Islamic states. Barack Obama and Hillary 51 00:03:17,400 --> 00:03:21,600 Speaker 1: these are the founders, These are the founders of ass 52 00:03:21,840 --> 00:03:25,079 Speaker 1: because of bad judgment. It looks like this year will 53 00:03:25,080 --> 00:03:28,160 Speaker 1: be one of the busiest hurricane seasons in the Atlantic. 54 00:03:28,320 --> 00:03:32,160 Speaker 1: According to the National Oceanic and Atmospheric Administration, the Atlantic 55 00:03:32,200 --> 00:03:34,800 Speaker 1: will see the most storms that get a name, since 56 00:03:36,040 --> 00:03:39,480 Speaker 1: forecasters say there will be up to seventeen named storms 57 00:03:39,520 --> 00:03:42,120 Speaker 1: with winds of at least thirty nine miles an hour, 58 00:03:42,520 --> 00:03:45,800 Speaker 1: as many as eight of those storms will become hurricanes. 59 00:03:46,160 --> 00:03:49,320 Speaker 1: Four of those storms could pack destructive winds of at 60 00:03:49,400 --> 00:03:52,320 Speaker 1: least one hundred eleven miles an hour, causing havoc for 61 00:03:52,360 --> 00:03:56,240 Speaker 1: the Gulf region and Florida. Bloomberg's Michael Barr reporting global 62 00:03:56,280 --> 00:03:58,720 Speaker 1: news twenty four hours a day, powered by more than 63 00:03:58,760 --> 00:04:02,560 Speaker 1: twenty hundred journal an analyst in more than one twenty countries. 64 00:04:02,800 --> 00:04:06,480 Speaker 1: I'm more Crumpton. This is Bloomberg, Charlie, and we thank you. 65 00:04:06,560 --> 00:04:10,120 Speaker 1: And again we are awaiting the latest numbers out of Nordstrom. 66 00:04:10,120 --> 00:04:13,400 Speaker 1: A record setting day for US equities, the TAL, the SMP, 67 00:04:13,600 --> 00:04:18,479 Speaker 1: and NASDAC all climbing to records, SMP up ten to five, 68 00:04:18,520 --> 00:04:22,039 Speaker 1: a gain of five tenths of one percent. I'm Charlie Pellett, 69 00:04:22,160 --> 00:04:26,560 Speaker 1: and that's a Bloomberg business flash. Move around. Motion creates 70 00:04:26,600 --> 00:04:32,320 Speaker 1: the motion. The elite t move like they do. I've 71 00:04:32,360 --> 00:04:38,640 Speaker 1: never seen anyone move that. Back time, people's moved like 72 00:04:38,680 --> 00:04:46,080 Speaker 1: to tread. A purpose that was called movers and shakers. 73 00:04:46,440 --> 00:04:48,880 Speaker 1: They cost a little more. That name cracked me up. 74 00:04:54,760 --> 00:04:59,000 Speaker 1: Bloomberg taking stock Movers and Shakers with Pim Fox and 75 00:04:59,080 --> 00:05:04,080 Speaker 1: Kathleen As on Bloomberg Radio. Well a definitive thumbs up 76 00:05:04,120 --> 00:05:08,160 Speaker 1: in the stock market today, movers and shakers going inside 77 00:05:08,200 --> 00:05:11,440 Speaker 1: the SMP five hundred, three hundred eighty nine gainers, one 78 00:05:11,480 --> 00:05:16,360 Speaker 1: hundred twelve losers, four closing unchanged are stocks that are 79 00:05:16,440 --> 00:05:20,040 Speaker 1: Dave Wilson is back to kickoff movers and shakers. Well, 80 00:05:20,120 --> 00:05:22,440 Speaker 1: we know the best performer in the SMP five hundred 81 00:05:22,480 --> 00:05:25,880 Speaker 1: on the day was Macy's. And what Macy's had to 82 00:05:25,920 --> 00:05:29,480 Speaker 1: say about its business and its plans to close stores, 83 00:05:30,160 --> 00:05:33,560 Speaker 1: well it explains the worst performer in the SMP five 84 00:05:33,640 --> 00:05:36,800 Speaker 1: hundred as well. And I'm referring there to General Growth 85 00:05:36,839 --> 00:05:40,640 Speaker 1: Power Properties. There's a real estate investment trust that owns 86 00:05:40,680 --> 00:05:44,239 Speaker 1: shopping centers. We know Macy's plans to close a hundred 87 00:05:44,440 --> 00:05:49,080 Speaker 1: of their stores, roughly fourteen percent of their namesake chain. 88 00:05:49,600 --> 00:05:53,240 Speaker 1: Beyond that, Macy's chief financial officer, Karena Hogan's sat on 89 00:05:53,279 --> 00:05:55,600 Speaker 1: a conference call that the US is and I'm quoting 90 00:05:55,640 --> 00:06:00,679 Speaker 1: here overstored, given evolving customer shopping habits. Another as we're 91 00:06:00,720 --> 00:06:04,680 Speaker 1: doing our shopping online, whether it's Amazon dot Com or 92 00:06:04,760 --> 00:06:08,240 Speaker 1: somewhere else. So you know that's all concerned for these 93 00:06:08,320 --> 00:06:11,600 Speaker 1: reeds that own shopping centers and a number of them 94 00:06:11,600 --> 00:06:13,760 Speaker 1: showed up on the list of the worst performers in 95 00:06:13,800 --> 00:06:16,560 Speaker 1: the S and P five hundred. Today, General Growth Property 96 00:06:16,640 --> 00:06:19,960 Speaker 1: is notable for having the biggest decline in the group, 97 00:06:20,560 --> 00:06:23,400 Speaker 1: and that stocked down three and a half percent on 98 00:06:23,440 --> 00:06:27,120 Speaker 1: the day. I'll tell you about the shares of Vista Outdoor. Now, 99 00:06:27,120 --> 00:06:28,680 Speaker 1: you might not know the name of the company, but 100 00:06:28,760 --> 00:06:30,720 Speaker 1: you do know some of the products that they make 101 00:06:30,760 --> 00:06:33,920 Speaker 1: a bell, bicycle and motorcycle helmets. While the stock down 102 00:06:34,040 --> 00:06:38,400 Speaker 1: six after reporting fiscal first quarter earnings per share of 103 00:06:38,560 --> 00:06:42,520 Speaker 1: forty eight cents that missed by one cents. Revenue was 104 00:06:42,640 --> 00:06:46,200 Speaker 1: also lower than estimates six thirty million. That was forty 105 00:06:46,240 --> 00:06:50,320 Speaker 1: five million dollars less than analysts had estimated. Vista Outdoor 106 00:06:50,440 --> 00:06:53,960 Speaker 1: also has brands such as Cattleback, the Water bottles and packs, 107 00:06:54,000 --> 00:06:57,680 Speaker 1: plus a Bushnell binoculars and scopes, and as well as 108 00:06:57,960 --> 00:07:00,840 Speaker 1: products for the hunting industry. The company did reaffirm its 109 00:07:00,880 --> 00:07:03,800 Speaker 1: full year earnings per share guidance of between two dollars 110 00:07:03,800 --> 00:07:07,200 Speaker 1: and sixty five and two dollars and eighty five cents. Nevertheless, 111 00:07:07,240 --> 00:07:12,920 Speaker 1: the shares of Via Outdoor down more than Shake Shack. 112 00:07:13,000 --> 00:07:16,760 Speaker 1: Who whatever have guessed that just a store a fast 113 00:07:16,760 --> 00:07:19,280 Speaker 1: food restaurant basically with great burgers and shakes. Can't you 114 00:07:19,320 --> 00:07:21,760 Speaker 1: find that everywhere? Well apparently not because shake Shack has 115 00:07:21,760 --> 00:07:24,560 Speaker 1: been such a hit, but not today. The share price 116 00:07:24,680 --> 00:07:27,559 Speaker 1: is down more than six percent at the close, thirty 117 00:07:27,600 --> 00:07:29,880 Speaker 1: eight dollars and change. In fact, it's the biggest drop 118 00:07:30,040 --> 00:07:33,920 Speaker 1: in five months after same store stales missed analysts estimates. 119 00:07:33,960 --> 00:07:37,200 Speaker 1: So it's raising this question, maybe they're rapidly expanding burger 120 00:07:37,280 --> 00:07:40,200 Speaker 1: chain isn't immune to a slump that's spreading through the 121 00:07:40,280 --> 00:07:44,720 Speaker 1: fast food industry. Also interesting here, employee costs are weighing 122 00:07:44,760 --> 00:07:47,280 Speaker 1: on profit of the chain, with labor expenses up thirty 123 00:07:47,320 --> 00:07:50,520 Speaker 1: seven percent in the quarter, and in fact, their chief 124 00:07:50,560 --> 00:07:54,320 Speaker 1: financial officer uh noted that what's going to be a 125 00:07:54,320 --> 00:07:56,920 Speaker 1: big challenge for them is increasing their wage. They're waging 126 00:07:57,120 --> 00:08:00,240 Speaker 1: were raising their hourly wage to twelve bucks in most 127 00:08:00,240 --> 00:08:03,240 Speaker 1: major cities. He says, it is a big challenge and 128 00:08:03,280 --> 00:08:05,240 Speaker 1: of course minimum wage broadly is going to hit a 129 00:08:05,280 --> 00:08:08,720 Speaker 1: lot of restaurants. True enough, and interesting to have shake 130 00:08:08,760 --> 00:08:12,240 Speaker 1: Shack come out along with Brinker International. This is a 131 00:08:12,320 --> 00:08:14,760 Speaker 1: company that owns Chilis and a lot of other chains. 132 00:08:15,440 --> 00:08:18,680 Speaker 1: Very different results for the stock though, and fiscal fourth 133 00:08:18,720 --> 00:08:22,840 Speaker 1: quarter earnings and revenue beat estimates. Now, sales at Chili's 134 00:08:22,960 --> 00:08:25,880 Speaker 1: fell less than analysts expected, at least at the locations 135 00:08:25,920 --> 00:08:29,360 Speaker 1: open more than a year, though overall the comp sales 136 00:08:29,400 --> 00:08:32,959 Speaker 1: as they're called for Brinker UH dropped a bit more 137 00:08:33,000 --> 00:08:36,199 Speaker 1: than analysts looking for. Nonetheless, people definitely seeing the bright 138 00:08:36,320 --> 00:08:41,360 Speaker 1: side in these results. Brinker International ticker eat E t 139 00:08:42,160 --> 00:08:44,600 Speaker 1: up more than twelve percent. Biggest game in five years. 140 00:08:44,880 --> 00:08:48,679 Speaker 1: I'm gonna tell you about the shares of a Shulman company. 141 00:08:48,840 --> 00:08:51,040 Speaker 1: You may not be familiar with it well, with shares 142 00:08:51,440 --> 00:08:55,000 Speaker 1: down twenty six percent today, the company warned that net 143 00:08:55,000 --> 00:08:58,600 Speaker 1: income in sixteen will be lower than previously estimated due 144 00:08:58,640 --> 00:09:02,640 Speaker 1: to what it describes as the reorating market conditions mainly 145 00:09:02,679 --> 00:09:04,839 Speaker 1: facing the industry in the United States and Europe. Now, 146 00:09:04,880 --> 00:09:08,280 Speaker 1: A Schulman makes polymer resins. They're used to provide color 147 00:09:08,600 --> 00:09:12,040 Speaker 1: to plastic products such as appliances and toys. Plus they've 148 00:09:12,040 --> 00:09:15,319 Speaker 1: got count compounds that can be found in molded products 149 00:09:15,320 --> 00:09:19,400 Speaker 1: such as kayaks, gas tanks, as well as playground slides. 150 00:09:19,480 --> 00:09:24,319 Speaker 1: Based in Akron, Ohio, A Schulman has fifty nine manufacturing facilities. 151 00:09:24,480 --> 00:09:28,360 Speaker 1: Once again, shares of a Schulman down twenty six per cent. 152 00:09:28,920 --> 00:09:31,080 Speaker 1: Al Right, it's time now for the Volatility Index report. 153 00:09:31,080 --> 00:09:33,840 Speaker 1: It's brought to you by cbo VIX Options and Futures. 154 00:09:33,960 --> 00:09:37,040 Speaker 1: Volatility can be harnessed with cbo VIX Options and Futures 155 00:09:37,080 --> 00:09:40,480 Speaker 1: see disclosures. Learn more at cbo e dot com Slash 156 00:09:40,480 --> 00:09:44,360 Speaker 1: Powerful Outcomes VIX. The VIX lower today, down a little 157 00:09:44,360 --> 00:09:47,440 Speaker 1: bit more than three percent, lower by point three eight, 158 00:09:47,720 --> 00:09:51,400 Speaker 1: settling at eleven point six seven. And according to an 159 00:09:51,480 --> 00:09:55,440 Speaker 1: EAT Advanced Survey of Advisors, volatility continues to be a 160 00:09:55,520 --> 00:10:00,640 Speaker 1: top advisor concern, with volatility index trading at historically low levels. 161 00:10:00,640 --> 00:10:04,400 Speaker 1: Why the divergence, Well, the VIX measures shorter term expectations, 162 00:10:04,679 --> 00:10:09,480 Speaker 1: looking out just thirty days in the SMP. All right, Dave, 163 00:10:09,600 --> 00:10:15,520 Speaker 1: you're up. Uh, my name is Dave. Just what do 164 00:10:15,559 --> 00:10:18,120 Speaker 1: you think you're doing? Things? We're going for the bandown, 165 00:10:18,200 --> 00:10:26,200 Speaker 1: will do Dave, Dave, Dave Mason Night International also getting 166 00:10:26,200 --> 00:10:29,320 Speaker 1: wacked today. Just a bit. Now, let's take a step 167 00:10:29,360 --> 00:10:32,920 Speaker 1: back for a second. If you're a publicly traded doormaker, 168 00:10:33,120 --> 00:10:35,440 Speaker 1: then it stands to reason that your stock ticker ought 169 00:10:35,440 --> 00:10:38,320 Speaker 1: to be door and that is indeed the case for 170 00:10:38,480 --> 00:10:42,880 Speaker 1: Mason Night International, which produces interior entry and patio doors. 171 00:10:43,240 --> 00:10:45,760 Speaker 1: Mason Night stock began trading over the counter in two 172 00:10:45,840 --> 00:10:49,160 Speaker 1: thousand nine. Four years later, the company listed on the 173 00:10:49,200 --> 00:10:51,280 Speaker 1: New York Stock Exchanged, and the shares have really done 174 00:10:51,280 --> 00:10:53,959 Speaker 1: well since then. They set a record in August last 175 00:10:54,000 --> 00:10:57,360 Speaker 1: year and came within fifty one cents of surpassing that 176 00:10:57,440 --> 00:11:01,240 Speaker 1: mark on Monday. Today, though, was an other story. Mason 177 00:11:01,360 --> 00:11:04,920 Speaker 1: I suffered a setback after posting second quarter results. While 178 00:11:04,960 --> 00:11:08,120 Speaker 1: profit and revenue beating analysts average essmates in Bloomberg survey, 179 00:11:08,360 --> 00:11:11,679 Speaker 1: the company came up short on EBA DA otherwise known 180 00:11:11,720 --> 00:11:16,600 Speaker 1: as earnings before interest, taxes, depreciation and amorization, a gage 181 00:11:16,600 --> 00:11:20,040 Speaker 1: of cash flow. There wasn't much room for any disappointment. 182 00:11:20,240 --> 00:11:22,640 Speaker 1: Mason I had jumped as much as fifty eight percent 183 00:11:22,720 --> 00:11:26,160 Speaker 1: from alone in February, and the stock had by ratings 184 00:11:26,200 --> 00:11:29,520 Speaker 1: from eleven of the twelve analysts in the Bloomberg survey. 185 00:11:29,600 --> 00:11:32,360 Speaker 1: The other one had sort of a hold rating. The 186 00:11:32,400 --> 00:11:35,320 Speaker 1: results sent mason I to a loss of six point 187 00:11:35,440 --> 00:11:38,600 Speaker 1: seven percent, and it was the stock's steepest drop in 188 00:11:38,640 --> 00:11:43,000 Speaker 1: about eighteen months. Thank you very much, Dave Wilson, Bloomberg 189 00:11:43,280 --> 00:11:47,320 Speaker 1: Stocks columnist. You're listening to Taking Stockholm pim Fox. My 190 00:11:47,559 --> 00:11:50,960 Speaker 1: co host Kathleen Hayes coming up a look at the 191 00:11:51,000 --> 00:11:56,320 Speaker 1: city that is hosting the Summer Olympics vision Ero. This 192 00:11:56,600 --> 00:12:07,080 Speaker 1: is Bloomberg, Bloomber. Taking stock is brought to you by 193 00:12:07,120 --> 00:12:09,800 Speaker 1: c I T. From transportation to healthcare to manufacturing, c 194 00:12:09,960 --> 00:12:12,880 Speaker 1: I T offers commercial lending, leasing, and treasury management services 195 00:12:12,920 --> 00:12:15,160 Speaker 1: for small and middle market businesses. Learn more at c 196 00:12:15,280 --> 00:12:17,160 Speaker 1: I T dot com. Put knowledge to work.