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

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Speaker 1: dot dolls their radio plus mobile and all your radio

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Speaker 1: pieces a Bloomberg Business for from Bloomberg World Headquarters. I'm

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Speaker 1: Charlie Pelot, Folks from Red Bull Ringing Net closing bell

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Speaker 1: on this first trading day of the new month. The

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Speaker 1: DAL the smpnaz dak all advancing the dale, going from

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Speaker 1: negative to positive in the final few seconds there with

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Speaker 1: a gain of one point. And we are brought to

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Speaker 1: you by National Realty thirty returns on cash in rented

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Speaker 1: real estate. Find them at n r I a dot net.

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Speaker 1: So stocks little changed on this Wednesday after the SMP

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Speaker 1: five index captain's longest stretch of monthly advances since two

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Speaker 1: thousand fourteen. SMP up two points to two thousand ninety nine,

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Speaker 1: a gain of one tenth of one percent, Nestack up

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Speaker 1: four to forty nine fifty two a gain of point

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Speaker 1: one percent. Down Industrials up one point, little change their

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Speaker 1: of the down at seventeen thousand seven. Federal Reserve and

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Speaker 1: its page book report says the US economy expanded at

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Speaker 1: a modest pace across most of the country since mid April,

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Speaker 1: causing the labor market to tighten as employers continued adding

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Speaker 1: jobs and nudging wages higher. The manufacturing unexpectedly expanded at

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Speaker 1: a faster pace in May, help by an increase in

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Speaker 1: orders that signal US factories aren't rebounding from an early

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Speaker 1: twenty sixteen slump. Brat Holcom is chairman of the Manufacturing

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Speaker 1: Business Survey at the Institute for Supply Management, and he

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Speaker 1: was our guest this afternoon right here on taking stock.

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Speaker 1: We gotta like at fifty one point three, growing for

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Speaker 1: three consecutive months after five months of contraction. So hopefully

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Speaker 1: we're setting up a new positive trend that's led by

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Speaker 1: a good quality number in new orders fifty five point seven,

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Speaker 1: down just a tenth of a point from a strong

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Speaker 1: fifty five point eight last month, growing for five and

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Speaker 1: set months, So good things for this month's report. US

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Speaker 1: auto sales though softer than predicted in May, a beltweather month.

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Speaker 1: That may help the Fed as they meet later on

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Speaker 1: this month again, SMP up two points. It is four

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Speaker 1: or two on Wall Street. Now look at the other

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Speaker 1: stories making news. Charlie. Thank you from the Bloomberg news room.

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Speaker 1: I Mark Crumpton. This news update is brought to you

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Speaker 1: by the Jeep Grand Cherokee, the most awarded suv ever.

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Speaker 1: at your local jeep dealer Today. Los Angeles Police Chief

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Speaker 1: Charlie Beck says today's shooting at an engineering building on

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Speaker 1: the campus of U c l A was a murder suicide.

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Speaker 1: The campus lockdown has been lifted. A French company says

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Speaker 1: it's special underseas search ship has detected signals from one

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Speaker 1: of the black box recorders on that egypt Air flight

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Speaker 1: that crashed into the Mediterranean last month. US officials say

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Speaker 1: finding as an increased in northern Afghanistan over the last

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Speaker 1: several weeks, but US Brigadier General Charles Cleveland says Afghan

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Speaker 1: security forces are making progress against the Taliban, as at

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Speaker 1: the end of last week the A and D s

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Speaker 1: F had actually broken the Taliban there and in the

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Speaker 1: short term had defeated them. A New Jersey notctor says

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Speaker 1: a baby girl born to a mother with a ZEKEA

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Speaker 1: virus appears to be affected by the disease. We're moving

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Speaker 1: as quickly as we possibly can researchers at the National

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Speaker 1: Institutes of Health are making progress, and we're hoping that

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Speaker 1: even by September that we can put a vaccine into trial.

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Speaker 1: Health and Human Services Secretary Sylvia Matthews Burwell, New York

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Speaker 1: City's correction Department has made significant progress towards establishing so

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Speaker 1: called enduring reform at Rikers Island. That's according to the Time,

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Speaker 1: citing report from federal monitoring teams overseeing a remake of

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Speaker 1: city jails. Global News twenty four hours a day, powered

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Speaker 1: by our journalists and more than one at fifty news

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Speaker 1: bureaus around the world from the Bloomberg News Room by

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Speaker 1: Mark Crumpton charlt and we thank you and again recapping

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Speaker 1: an advance for US equities Gold lower today down to

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Speaker 1: fifteen and dropped there of two tenths of one percent,

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Speaker 1: the tenure up one thirty, second year old one point

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Speaker 1: eight four and again the SMP at two thousand ninety

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Speaker 1: nine on this first day of June, picking up two

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Speaker 1: points a gain of point one percent. I'm Charlie Peloton.

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Speaker 1: That's a Bloomberg Business flash. Move around motion creates the

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Speaker 1: motion at the early move Can you move like they do?

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Speaker 1: I've never seen anyone move that back fired people. Let's

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Speaker 1: move like to get a purpose. That's called movers and shakers.

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Speaker 1: They cost a little more and that name cracked me up.

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Speaker 1: Bloomberg taking stock Overs and Shakers with Pim Fox and

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Speaker 1: Kathleen As on Bloomberg Radio. The games in the Major

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Speaker 1: Market index is not big today, flat tub about a

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Speaker 1: tenth of percent. But by oh boy, when you look

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Speaker 1: inside the SNP five hundred, you see a definitive move

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Speaker 1: higher supported by the numbers of winners and losers within

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Speaker 1: that index. Three hundred six gained hundred ninety two foul

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Speaker 1: seven closing unchanged. Jeremy now is our stocks editor Dave

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Speaker 1: Wilson to kick off movers and shakers, and I'm gonna

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Speaker 1: look outside the SNP five hundred at Ali Baba Group holding,

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Speaker 1: the Chinese e commerce company. Now their biggest shareholder is

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Speaker 1: Japan's soft Bank Group and soft Branks that it plans

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Speaker 1: to sell at least seven point nine billion dollars of

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Speaker 1: shares in Ali Baba, and that includes five billion that

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Speaker 1: would be sold privately two institutional investors. The sale cuts

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Speaker 1: offt Bank steak by about four percentage points to twice

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Speaker 1: eight percent and that prospect didn't go over well at

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Speaker 1: all with investors. Ali Baba's shares down six and a

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Speaker 1: half percent in today's trading, and the company's second largest shareholder, Yahoo,

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Speaker 1: which owns about fifteen percent stake, well, that stocked down

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Speaker 1: three point four percent on the day. Well, you know

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Speaker 1: how I love to look at retailers, particularly retailers that

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Speaker 1: sell handbags, Dave, So of course I'm looking at Michael

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Speaker 1: Core's holdings, up the most in nearly four months. In fact,

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Speaker 1: at one point today the stock was up nearly eight

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Speaker 1: percent seven point seven percent after its annual forecast exceeded

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Speaker 1: analysts estimates. Helped buy a new lineup of handbags, that's

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Speaker 1: one thing, and in the prospect of a deeper push

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Speaker 1: into Asia, especially China. Right now at the close, Michael

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Speaker 1: Core is up six point six percent of forty five

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Speaker 1: dollars and fifty five cents. Profit will be four dollars

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Speaker 1: and fifty six cents to four sixty four a share

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Speaker 1: in the year through March twenty seven, team, with analysts

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Speaker 1: projecting for four fifty one cents on average. They released

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Speaker 1: early summer products to get customers into stores and there

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Speaker 1: are buying back their Greater China license move they announced today,

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Speaker 1: and it's important because US shoppers interested in the brands

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Speaker 1: appears to have peaked. And that's according to Neil Saunders,

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Speaker 1: who's the CEO of a research company called Cone Lumino.

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Speaker 1: I have to look at the under Armour, the athletic wearmaker.

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Speaker 1: We know their endorsers include Stephen Curry, who's wanting to

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Speaker 1: be playing in the NBA Finals with the Golden State Warriors.

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Speaker 1: I can hardly absolutely going up against Lebron James and

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Speaker 1: the Cleveland Cavaliers. In any case, though, this was not

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Speaker 1: the kind of day that under Armor would appreciate. Commy

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Speaker 1: at Cuts Foilier forecast in response to sporting goods retailer

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Speaker 1: Sports Authorities planned to liquidate. Now Sports and Authority file bankruptcy,

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Speaker 1: had planned to reorganize, ended up though the liquid as

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Speaker 1: won the bidding for the company, so instead it's gon

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Speaker 1: sell off all of its assets. So there goes demand

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Speaker 1: for under Armers products. And this is a company actually

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Speaker 1: has two classes of common shares in the SMP five

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Speaker 1: undered say it's time about two of the day's worst

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Speaker 1: performers in that index under Armours Class A, down almost

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Speaker 1: four percent and under Armour Class C down three point

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Speaker 1: six percent. Well, day, we can't overlook the automakers because

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Speaker 1: they had a tough day after sales at the Big

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Speaker 1: three came in on the light side of forecasts much

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Speaker 1: softer than predicted. In May, we can take a look

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Speaker 1: at four down two point eight percent, GM down three

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Speaker 1: point four percent forward their sales year over year for

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Speaker 1: the month May, we're down six point one percent, GM

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Speaker 1: down eighteen percent. If you have christs are eked out

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Speaker 1: a one percent gain, but it's share price also closing

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Speaker 1: lower by one pot eight percent. And of course the

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Speaker 1: biggest retail UH auto retailer in the country, Auto Nations,

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Speaker 1: closing lower by one and a half percent CarMax down

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Speaker 1: two point nine percent. Is interesting because we spoke to

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Speaker 1: Michael Sprague who is the CEO of Kia America DAVE,

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Speaker 1: and they had a record year of many sales in

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Speaker 1: this country nearly sixty three thousand units. Well, I'll just

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Speaker 1: mentioned Whole Foods Market briefly. One of the day's winners.

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Speaker 1: The grocery store owner raised the equivalent of buy from

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Speaker 1: neutral at Credit Suites, and in response to that call,

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Speaker 1: you saw Whole Foods Market and move up almost five

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Speaker 1: in today's training. So it is now time for the

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Speaker 1: Volatility Index report, brought to you by cbo E VIX

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Speaker 1: Options and Futures. See disclosures and learn more at cbo

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Speaker 1: e dot com Slash Powerful Outcomes VIX. The VIX peeked

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Speaker 1: out again a point o two, closing at fourteen point

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Speaker 1: to one, so it is barely an up day. Just

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Speaker 1: to remind you on this first day of June that

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Speaker 1: the VIX fell nine point six percent in the month

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Speaker 1: of May. All right, Dave, you're up, Hi, Hi, my

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

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Speaker 1: We're going to Dave. Hey, Mr Wilson, you're looking at

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Speaker 1: a favorite author. When people are driving around getting other

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Speaker 1: cars looking for something deep, Cracker Barrel Old Country Store

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Speaker 1: is doing pretty well. Absolutely and not just something because yeah,

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Speaker 1: I remember. Cracker Barrel operates gift shops as well as

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Speaker 1: restaurants in the same location. The restaurants are for what

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Speaker 1: the company calls home style meals. The gift stores offer

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Speaker 1: everything from food and candy to furniture and home to

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Speaker 1: court Cracker Barrel started in nineteen sixty nine, when the

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Speaker 1: first location was opened in leven in, Tennessee. The company's

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Speaker 1: still based there. It's in publicly trace and its ticker

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Speaker 1: Symbolis c b r L. Now Cracker Barrel shares have

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Speaker 1: climbed more than fifteen fold from a low in November

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Speaker 1: two thousand and eight. Today they set a record after

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Speaker 1: the company just squared a special dividend for the second

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Speaker 1: straight year. The one time payout was raised to three

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Speaker 1: dollars twenty five centers to share from last year's three dollars.

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Speaker 1: Cracker Barrel also lifted its quarterly dividend by five cents

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Speaker 1: of shared with dollar fifteen, and the comedy raised its

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Speaker 1: hurtings for share estimate for the fiscal year ending in

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Speaker 1: July by that same five cents a share. UH shares

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Speaker 1: a Cracker Barrel roses high as a hundred and sixty

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Speaker 1: seven dollars and ten cents today before closing at one.

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Speaker 1: That's a gain of eight point four percent, the biggest

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Speaker 1: for the stock since February of last year. Boy live

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Speaker 1: in Tennessee less than thirty thousand people. David proxim Me

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Speaker 1: twenty five miles east of downtown Nashville. Don't wonder such

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Speaker 1: as spots created this this wonderful, wonderful restaurant and gift

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Speaker 1: shop chain. This is taking k on Bloomberg Radio. Bloomber

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Speaker 1: Taking Stock is brought to you by a Commonwealth Financial Network.

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Speaker 1: When it's time to change the conversation, talk with a

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Speaker 1: broker dealer r I that's ready to listen colleges six

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Speaker 1: six four six two three six three or visit Commonwealth

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Speaker 1: dot com to learn more. Busin