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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 Globo Last and on your radio.

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

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Speaker 1: on Catherine Cottery and AzaC. Closing bell sounds at Dow

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Speaker 1: Industrial Average is up one hundred sixteen points two thirds

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Speaker 1: of a percent at seventeen thousand, eight hundred ninety. SMP

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Speaker 1: five founded up sixteen points three quarters of a percent

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Speaker 1: at two thousand eighty one, vast act of forty two

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Speaker 1: point seven eighths of a percent at forty eight seventeen.

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Speaker 1: While stock started the month with an advance, recovering from

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Speaker 1: their worst week since February, traders have lowered their expectations

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Speaker 1: for higher interest rates in June after data showed manufacturing

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Speaker 1: slowed last month. A rebound that lifted the smp F

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Speaker 1: I founded as much as fifteen percent from its February low,

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Speaker 1: faltered last week of mid lackluster earnings and few signs

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Speaker 1: of a pickup in economic growth. Phil Silverman, managing partner

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Speaker 1: at kings View Capital, says, because of low interest rates,

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Speaker 1: the stock market is the only place to grow your

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Speaker 1: money right now. You're not being a lot of good

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Speaker 1: alternatives out there, two stocks and as they're going off

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Speaker 1: as forcing people to chase the stocks and and push

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Speaker 1: them up. Crude oil fell for a second day as

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Speaker 1: a Rock's exports approach to record high in April, adding

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Speaker 1: barrels to a worldwide supply glot that's pushed prices and lower.

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Speaker 1: West Texas enermedi or crude oil is downs to barrel

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Speaker 1: two point two percent to forty four ninety three. Spotfolder

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Speaker 1: is up a dollar seventy announced to twelve ninety two forty,

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Speaker 1: and the tenure Treasury is down nine thirty seconds with

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Speaker 1: the older one point eight six percent. Among today's top

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Speaker 1: business stories, manufacturing expanded at a slower pace than forecast

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Speaker 1: in April as factories continued to grapple with Black's global

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Speaker 1: demand and fallout from a week in the U S

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Speaker 1: energy industry. The Institute for Supply Managements Index felt by

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Speaker 1: one point to fifty point eight. Economists had anticipated a

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Speaker 1: stronger reading. Ballyan Pharmaceuticals International retreated again today, down as

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Speaker 1: much as thirteen percent after billionaire Warren Buffett criticized the

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Speaker 1: drugmaker's strategy at the annual meeting of his company, Berkshire

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Speaker 1: Half away. Valiant stock has fallen more than since its

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Speaker 1: August peak after months of turmoil. Buffett said that Valiant's

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Speaker 1: business model is enormously flawed and last week's series in

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Speaker 1: the Senate we're not a pretty picture. Let's get an

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Speaker 1: update to some of the other stories were following today

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Speaker 1: right here on Bloomberg Radio. Katherine, thank you from the

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Speaker 1: Bloomberg News Room. I'm Mark Crumpton. The Obama administration is

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Speaker 1: blasting Republican lawmakers, saying they're dragging their feet and reaction

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Speaker 1: to Puerto Rico's financial crisis. The US territory announced it

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Speaker 1: will likely default on its four hundred twenty two million

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Speaker 1: dollar payment, which is due today. Press Secretary Josh Ernest

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Speaker 1: says the White House put forward a legislative proposal for

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Speaker 1: Puerto Rico more than six months ago. Unfortunately, we haven't

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Speaker 1: seen the kind of movement in the Republican Life Congress

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Speaker 1: that we need to see to make a bail out

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Speaker 1: of Puerto Rico less likely. Republican presidential frontrunner Donald Trump

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Speaker 1: is campaigning in Indiana ahead of Tuesday's presidential primary. Trump

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Speaker 1: is asking voters to help him snag the delegacy needs

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Speaker 1: to avoid a contested convention, and then we can focus

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Speaker 1: our clock at Hillry. Please let's focus on Hillry. Mrs

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Speaker 1: Clinton is campaigning in Kentucky and West Virginia today. Former

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Speaker 1: Penn State assistant football coach Jerry Sandusky was back in

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Speaker 1: court today, continuing to pursue appeals of his forty five

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Speaker 1: count conviction for child sexual abuse. The seventy two year

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Speaker 1: old Sandusky is seeking a hearing where he can present

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Speaker 1: evidence supporting his claim he was wrongly convicted. He's serving

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Speaker 1: a thirty to sixty years sentence for abusing ten boys.

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Speaker 1: Investigators are trying to figure out what sparked a massive

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Speaker 1: fire that destroyed an historic Manhattan church Sunday. Flames broke

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Speaker 1: out at the Serbian Orthodox Cathedral of Saint Sava just

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Speaker 1: hours after congregants celebrated Easter. Authority say the blaze caused

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Speaker 1: only one minor injury. The church was built in the

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Speaker 1: eighteen fifties and designated a landmark in nine Global News

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Speaker 1: twenty four hours a day, powered by our two d

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Speaker 1: journalists in more than one hundred fifty news ms around

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Speaker 1: the world from the Bloomberg news Room by Mark Crumpton Catherine.

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Speaker 1: Thank you Bloomberg taking Sonch is brought to you by

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Speaker 1: National Realty Returns on Cash and rented real Estate. Find

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Speaker 1: them at n r I a dot net. Let's get

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Speaker 1: a quick update of the equity benchmarks as they begin

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Speaker 1: to settle Town Industrial laverage up one hundred seventeen points

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Speaker 1: to seventeen thousand, eight hundred. Snp f I founded up

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Speaker 1: sixteen points to two thousand eighty one. Then azzac is

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Speaker 1: at forty two points forty eight seventeen. And that's a

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Speaker 1: Bloomberg business flash. Move around morting Gray promotion up theearly

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Speaker 1: move on. You moved like they do. I've never seen

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Speaker 1: anyone move that fast. Five people. It's moved like you've

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Speaker 1: got a purpose. Is 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 bim Box and Kathleen as

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Speaker 1: on Bloomberg Radio Movers and Shakers from Monday made the

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Speaker 1: second twenty sixteen taking a look at the constituents of

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Speaker 1: the SNP five hundred, three hundred and nineties. Seven issues advanced,

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Speaker 1: one hundred and four issues fall and four remain unchanged.

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Speaker 1: I want to introduce Dave Wilson Bloomberg Stocks Commas to

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Speaker 1: kick off our movers and shakers, Dave Well, I want

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Speaker 1: to reach outside the SMP five hundred and take a

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Speaker 1: look at by Do, the most popular search engine in China.

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Speaker 1: Well as this is a company that has benefited from

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Speaker 1: its willingness to go along with government restrictions on what

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Speaker 1: search results can show, see figure that they're in a

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Speaker 1: relatively good position. Well, it turns out that a university

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Speaker 1: student who was suffering from a rare form of cancer

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Speaker 1: sought out alternative treatments via bai Do, went to a

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Speaker 1: doctor in a Beijing area hospital and uh the treatment

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Speaker 1: was unsuccessful and he died. So now bay Do is

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Speaker 1: under investigation by the Cyberspace Administration of China, the National

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Speaker 1: Health Commission, and the top industry regulator in the country.

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Speaker 1: You put that altogether. By Do shares down almost eight

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Speaker 1: percent today in US trading, Davi, I'm gonna tell you

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Speaker 1: about Coach, the leather handbag and apparel maker. Coach shares

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Speaker 1: up two and a half a percent. And this follows

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Speaker 1: on your theme of companies that reported last week who

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Speaker 1: are showing big moves in the stock price today because

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Speaker 1: last week they surprised analyst with a seven percent beat

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Speaker 1: for the earnings per share, and that was about the

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Speaker 1: top line and a bottom line beat, and the stock

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Speaker 1: last week hit a new fifty two week high. Well,

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Speaker 1: taking a look today, the shares of Coach higher by

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Speaker 1: two and a half percent. I'm gonna stand that equation

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Speaker 1: on its head because the worst performer in the SMP

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Speaker 1: five hundred is a company that reported results on Friday,

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Speaker 1: and I'm referring to the disk drive makers Cgate Technology. Now,

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Speaker 1: you did see a couple of analysts lower their ratings

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Speaker 1: on the stock in the wake of that set of results.

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Speaker 1: Uh Today JP Morgan cuts c Gate to the equivalent

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Speaker 1: of self from neutral, Obbous Capital Markets Loader's rating the

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Speaker 1: equivalent of whole from buy. And put that all together

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Speaker 1: and you had c Gate Technology down almost six percent today.

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Speaker 1: Let's say the biggest dropping the SMP five Monsanto shares

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Speaker 1: rose today. They were up two percent. This comes after

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Speaker 1: a cancer review committee at the Environmental Protection Agency determined

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Speaker 1: that glyphoss fate this is Monsanto's signature weed killing chemical.

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Speaker 1: It's one of the most widely used pesticides in the world.

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Speaker 1: They reviewed that it is likely not a carcinergen. Now

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Speaker 1: the final report will be released online late Friday, and

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Speaker 1: that released the opposite conclusion of report from a year

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Speaker 1: ago by the Cancer Research arm of the World Health Organization.

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Speaker 1: That finding said that clive phosp fate is a likely carcinogen.

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Speaker 1: Uh so uh competing views on this chemical, but nevertheless

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Speaker 1: good enough today from Monsanto schares to go higher by

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Speaker 1: two percent. Gotta mention Valley Pharmaceuticals, a company that came

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Speaker 1: up during the annual meeting of Berkshire Hathaway over the weekend,

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Speaker 1: Warren Buffett's company. It came up because Valiant was one

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Speaker 1: of the biggest holdings of the Sequoia Fund, which historically

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Speaker 1: Buffett is backed. Let's tell you though, he's certainly not

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Speaker 1: a fan of Valiant. Among other things, he said that

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Speaker 1: the company's business model was enormously flawed, and Berkshire's vice chairman,

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Speaker 1: Charlie Munger buffet sidekicks have piled on as far as

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Speaker 1: that one. Now. Bill Ackman, who's Pershing Square Capital is

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Speaker 1: one of the biggest shareholders in Valiant, was out today

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Speaker 1: on CNBC UH talking about the company. Nonetheless, Valiant shares

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Speaker 1: in the wake of Buffett's comments, losing two point one

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Speaker 1: percent on the day. Thank you very much, Dave Wilson.

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Speaker 1: Let me tell you now is the time for the

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Speaker 1: Volatility Index report, brought to you by CBOE. VIX options

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Speaker 1: and futures of volatility can be harnessed with cbo E

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Speaker 1: VIX options in futures CEE disclosures. Learn more at CBOE

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Speaker 1: dot com, Slash Powerful Outcomes VIX Now. The VIX today

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Speaker 1: moving lower, down more than seven and a half percent

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Speaker 1: of decline of one point one eight, settling at fourteen

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Speaker 1: point five two. Now. Options traders seem to be positioning

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Speaker 1: themselves for a resurgence in volatility. They've been buying up

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Speaker 1: both VIX and spy options UH investors not only trading

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Speaker 1: more of them, but they seem to be accumulating more

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Speaker 1: put options as well. All right, Dave, you're my name

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Speaker 1: is Dave. Just what do you think you're doing? We're

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Speaker 1: going for dad. Hey, Mr Wilson, Bloomberg Stocks commis and

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Speaker 1: our resident music cologists tell us about a company that

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Speaker 1: is in the blood collection business. Yeah, that would be

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Speaker 1: Hayman Attics. They provide collection devices and supplies technology consulting

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Speaker 1: services to blood banks and hospitals companies based in the

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Speaker 1: Boston suburb of Braintree, Massachusetts. Hayman Attics went public twenty

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Speaker 1: five years ago this month, so it's an anniversary coming up.

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Speaker 1: The company shares trade under the ticker H A E,

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Speaker 1: which are the first three letters of its name. Him

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Speaker 1: and Attics has been up and down ever since US

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Speaker 1: stocks began their current bulmarket in March two thousand nine.

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Speaker 1: They set a record in July and came close to

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Speaker 1: surpassing the peak in the first half of last year.

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Speaker 1: Today it was a different story for Him and Attics,

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Speaker 1: and fiscal fourth quarter results were to blame. The company

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Speaker 1: had adjusted earnings a thirty seventh sense of share, which

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Speaker 1: trailed the average analyst has been in the Bloomberg survey

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Speaker 1: by nine cents. Revenue was lower than projections for the

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Speaker 1: seventh straight quarter, and shares of Hayman Attics suffered their

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Speaker 1: biggest one day loss in thirteen years, as they fell

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Speaker 1: almost fifteen percent and the stock closed at the twenty

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Speaker 1: seven dollars sixty five cents, the lowest price in about

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Speaker 1: four and a half years. Dave Wilson, thank you very much,

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Speaker 1: Bloomberg Stocks commist. You know one of the stocks I

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Speaker 1: was looking at um Heinz having to do well. It

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Speaker 1: really Berkshire Hathaway, because Berkshire Hathaway at its position in

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Speaker 1: Hins is such that whatever Heins does, you're gonna see

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Speaker 1: some kind of reaction. And Heins is gonna be reporting

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Speaker 1: later this week, I think Wednesday. That will definitely be

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Speaker 1: a company to watch, especially given Buffets backing and also

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Speaker 1: with three G Capital, which is really kind of run

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Speaker 1: show there ever since Buffet got together with the private

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Speaker 1: equay from based in Brazil. Thank you very much, Bloomberg

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Speaker 1: Stocks Commist resident musicologist eight Wilson. Yeah, Bloomber Taking stock

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