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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 Gloomberg Business Class and there you have

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Speaker 1: its sound of the closing dollars. We wrap up trading

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Speaker 1: on this Wednesday, June eighth, the DAL, the SMP NEZ

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Speaker 1: stack All Advancing SMP five hundred indecks at the highest

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Speaker 1: in ten months. Stocks gaining today, bolstered by speculation borrowing

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Speaker 1: costs will remain lower for longer amid moderate growth. So

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Speaker 1: is stock's advanced spill. Orlando, chief equity strategist that Federated

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Speaker 1: Global Investment Management, told us moments ago it is time

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Speaker 1: to take profits and move to the sidelines, and he's

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Speaker 1: got a number of reasons. The fun ofmentals right now

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Speaker 1: are particularly good. G d P growth has been decelerating

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Speaker 1: for the last year. We're at eight tenths of one

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Speaker 1: percent in the first quarter. We've been in a earnings

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Speaker 1: recession now for the last year. Revenues and earnings down

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Speaker 1: year of the year, the last four or five quarters.

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Speaker 1: The labor market is stalled. Inflation core PC has tacked

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Speaker 1: down the last couple of months. You've got this briggit

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Speaker 1: vote coming up, a lot of uncertainty surrounding what the

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Speaker 1: Fed is thinking, what they're gonna do of a tenure

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Speaker 1: right now up five thirty seconds, yield one point seven percent.

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Speaker 1: SMP five hundred index up seven of the bell to nineteen,

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Speaker 1: a gain there of three tents of one percent, and

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Speaker 1: as a stack up twelve a gain of three tenths

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Speaker 1: of one percent. Down Industrials at eighteen thousand four a

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Speaker 1: gain of sixty six points. Today higher by four tenths

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Speaker 1: of one percent. Gold up seventeen sixty the ounce to

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Speaker 1: twelve sixty four sixty and advance there of one point

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Speaker 1: four percent. Crude oil up a dollar one of barrel

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Speaker 1: fifty one thirty seven on West Texas Intermediate, a gain

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Speaker 1: there of one point four percent. Lulu lev In Athletic

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Speaker 1: up posting first quarter sales at top to analysts estimates

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Speaker 1: help by new products like an expanded selection of women's tops.

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Speaker 1: Lulu Lemon today up by four point nine percent, so

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Speaker 1: again recapping a move higher for U S equities, SMP

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Speaker 1: up seven to again there of three tenths of one percent.

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Speaker 1: It is four oh two on Wall Street. Now, let's

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Speaker 1: take a look at other news from around the world

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Speaker 1: on Bloomberg Radio. Charlie, thank you from the Bloomberg newsroom.

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Speaker 1: I'm Mark Crumpton. In an extensive interview with Bloomberg Politics,

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Speaker 1: Donald Trump is distancing himself from his own fundraising estimate

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Speaker 1: of a billion dollars. The presumptive Republican presidential nominee says

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Speaker 1: his campaign doesn't need much money to win the White

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Speaker 1: House and that he plans to rely on his star

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Speaker 1: power as a former reality TV personality to earn free media.

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Speaker 1: As for his search for a running mate, Trump says

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Speaker 1: he's narrowed his choices to four or five politicians, including

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Speaker 1: former campaign rivals. Republican lawmakers remain divided over whether to

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Speaker 1: endorse Mr Trump after his remarks last week about a

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Speaker 1: judge in the defunction Trump University case. Texas Senator Ted Cruz,

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Speaker 1: who was not endorsed Trump, was asked if the billionaire's

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Speaker 1: remarks would influence his decision. I am looking and listening

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Speaker 1: and watching the candidates have been the same thing. Millions

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Speaker 1: of voters are billing and diacon felling the Associated press

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Speaker 1: sites is really police who say three people are dead

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Speaker 1: and six others wounded following a shooting at a tel

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Speaker 1: Aviv Market. A police spokeswoman tells the Associated Press the

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Speaker 1: shooters have been quote neutralized. Fans of boxing legend Muhammad

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Speaker 1: Ali waited in line for hours for a chance to

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Speaker 1: get tickets to Friday's memorial service in Louisville. J. Johnson

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Speaker 1: of Cincinnati was first in line. It is only intelligent

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Speaker 1: that I pay homage along with the rest of the

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Speaker 1: world and acknowledge the passing of a great man. Muhammad

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Speaker 1: Ali died Friday at the age of seventy four. Global

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

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Speaker 1: four hundred journalists in more than one hundred fifty news

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Speaker 1: rows around the world. From the Bloomberg News Room, I'm

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Speaker 1: Mark Crumpton, Charlie, and we thank you, and again recapping

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Speaker 1: stocks higher, the DAL, the S and P and has

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Speaker 1: stack all gaining SMP five hundred index up seven. Again

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Speaker 1: they are of three tenths of one percent. I'm Charlie Pealton.

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Speaker 1: That's a Bloomberg business flash, move around, motion, create promotion.

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Speaker 1: I bl move you moved like they do. I've never

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Speaker 1: seen anyone move that back fired. People. Let's move like

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Speaker 1: to get a purpose is called movers and shakers. It

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Speaker 1: costs a little more. That name cracked me up. Bloomberg

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Speaker 1: taking stock Movers and Shakers with Pim Fox and Kathleen

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Speaker 1: As on Bloomberg Radio. Things are moving shaken here in Orlando, Florida.

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Speaker 1: Pershing's Insight twenty sixteen conference continues on Kathleen Hayes pit

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Speaker 1: Fox is moderating a very interesting panel this afternoon. So

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Speaker 1: I get the privilege of telling you about how the

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Speaker 1: SMP looks at the close, when you take a look

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Speaker 1: at the gainers and the losers. Three to forty three

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Speaker 1: companies saw their share prices closed higher hundred fifty five lower,

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Speaker 1: seven unchanged. Dave Wilson's back our stock Senator kick off

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Speaker 1: the movers and the shakers. Well, let's talk about one

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Speaker 1: of those stocks that fell on today's training. It's Abbey,

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Speaker 1: the drug maker that gets most of its revenue from

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Speaker 1: the rheumatory arthritis treatment Humera. Abby's rating was cut to

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Speaker 1: the equivalent of whole from by at Morgan Stanley. The

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Speaker 1: firm sided concern that Humera is going to lose market

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Speaker 1: share two similar drugs being developed at Novartis, Eli Lily

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Speaker 1: and Insight. You put that all together an Abbey shares

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Speaker 1: down two point two percent in today's trading. Well, a

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Speaker 1: really good day for Lulu Lemon, Lululemon Athletica closing up

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Speaker 1: four point nine per cent seventy one dollar and forty

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Speaker 1: eight cents to share. Why because it posted first quarter

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Speaker 1: sales that topped analysts estimates. It's got a lot of

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Speaker 1: new products, great colors, and this is paying off. Sales

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Speaker 1: rose sevent to four hundred nine million dollars in the

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Speaker 1: quarter ended May one, versus and projected four hundred eighty

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Speaker 1: seven million on average um. They've been adding these innovative

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Speaker 1: pants and fabrics day. They're trying to appeal to the

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Speaker 1: hardcore athlete who really wants to go work out the

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Speaker 1: gym or do a great yoga class, and casual buyers.

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Speaker 1: That gets us into the f leisure category. Uh, the

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Speaker 1: CEO saying, in terms of the key metrics we were

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Speaker 1: looking for in the quarter, we got everything we wanted

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Speaker 1: and them some. Lulu Lemon's merchandise assortment is resonating with

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Speaker 1: shoppers and all of this resonating with stars today. Tell

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Speaker 1: you what else was resonating with investors. Credit Sweezes comment

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Speaker 1: that it's very bullish on the U S Steel industry. UH,

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Speaker 1: the firm raised their rating on A K Steel holding

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Speaker 1: to the equivalent of by from hold. That stock jumped

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Speaker 1: almost sevent U S Steel have an eleven percent gain

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Speaker 1: and New Corps was one of the today's best performers

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Speaker 1: in the S and P five hundred that stock rising

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Speaker 1: two point eight percent. Well, that goes right along with

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Speaker 1: looking at railroads. Doesn't at CSX Corp, Norfolk Southern Corps,

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Speaker 1: Union Pacific all up across the board anywhere from one

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Speaker 1: point seven percent to two point six percent for these

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Speaker 1: railroad giants. Why lower coal stock piles and the commodities

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Speaker 1: rally led by green and oil have hinted that a

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Speaker 1: cargo slump may have hit bottom, and of course that's

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Speaker 1: very important to railroads. In fact, the CFO of c

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Speaker 1: s X was a Doutsche Bank presentation UH today and

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Speaker 1: UH he said that UH farmers who may have stored

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Speaker 1: green to wait for some higher prices are possibly going

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Speaker 1: to ship more as the prices for corn, soybeans and

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Speaker 1: other crops being can to climb. In fact, since April

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Speaker 1: prices are up for corn dave and for soybeans, I

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Speaker 1: want to talk about another retailer Signet Jewelers. They're the

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Speaker 1: company of owns the Jared K Piercing Pagoda and Zales

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Speaker 1: jewelry change. You may recall the last week their stock

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Speaker 1: took a hit after a critical story in the newsletter

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Speaker 1: Grants Interest Rate Observer. While we found out today that

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Speaker 1: in the wake of that decline, Chief executive Mark White

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Speaker 1: and Chairman's Todd Stitzer both added to their stakes in Signat.

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Speaker 1: I mean just yesterday the stock fellow it's lowest prices February.

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Speaker 1: Today Signet is giving light and Stitzer gains on their purchases.

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Speaker 1: Rose was in today's trading. Just a quick look at

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Speaker 1: Veriophone Systems. This is a payments technology company, following the

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Speaker 1: most in more than three years. Today, it cut its

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Speaker 1: outlook for full earnings by as much as seventeen percent,

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Speaker 1: citing difficult market dynamics. Several analysts downgraded the stock, and

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Speaker 1: in fact Veriophone down wow nearly twenty five cent today.

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Speaker 1: Now it's time to the Volatility Index report, and that's

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Speaker 1: brought to you by CBOEV ex Options in Futures. Volatility

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Speaker 1: can be harnessed with cbo EV ex Options in Futures

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Speaker 1: to disclosures. Learn more at cbo E dot com. Slash

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Speaker 1: Powerful Outcomes VIX. Well, the VIX closed marginally higher point

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Speaker 1: one at fourteen point oh six. You know, it was

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Speaker 1: on pace for a second straight weekly climb and a

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Speaker 1: fourth in the last five and in fact it still is.

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Speaker 1: All Right, Dave, h, Hi, my name is Dave. Just

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Speaker 1: what do you think you're doing today? We're going to Dave.

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Speaker 1: You know, Dave, I didn't know you were a part

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Speaker 1: of a big entertainment company which is uh setting a

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Speaker 1: record you mean David Buster's Entertainment. Well, not exactly. Nonetheless,

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Speaker 1: this is a company that has a slogan, Eat, Drake,

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Speaker 1: play and Watch. The company offers dining and games together,

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Speaker 1: and it's eighty four locations in the US and Canada,

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Speaker 1: and it's stock symbol happens to be play p L,

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Speaker 1: a y taking rant of the slogan. David Busters started

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Speaker 1: in two and went public in October. Now the shares

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Speaker 1: rose eight percent on their first day of trading and

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Speaker 1: kept going from there. They never dropped back below their

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Speaker 1: initial price. You know, I talked a lot about busted

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Speaker 1: I p o s or initial public offerings. This is

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Speaker 1: the exact opposite now. David Busters put out fiscal first

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Speaker 1: quarter results late yesterday. Earnings and sales beat down this

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Speaker 1: average estimates in the Bloomberg Survey, as they have in

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Speaker 1: every quarter since the company went public. David Busters also

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Speaker 1: raised forecast for this fiscal year and settling buy back

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Speaker 1: as much as a hundred million dollars in stock by

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Speaker 1: the end of the next fiscal year. All this sent

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Speaker 1: david Busters shares to a record today. They traded as

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Speaker 1: high as forty six dollars and sixty cents, closed at

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Speaker 1: forty six fifteen. That's a gain of more than ten percent.

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Speaker 1: Quick question, Dave, looking ahead to tomorrow, what's what are

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Speaker 1: you focused on? Well, frankly, there's not a whole lot

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Speaker 1: to focus on. Just taking a quick look at the

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Speaker 1: S and P five hundred in terms of earnings, Uh, well,

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Speaker 1: there's not much. A couple of reports James Smucker, H

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Speaker 1: and R Block will be out uh Smucker before the

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Speaker 1: open H and R Block after the closed UH blocks

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Speaker 1: results maybe the more interesting because of encompasses tax season.

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Speaker 1: Oh gosh, all great, Dave will send our socks editor

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Speaker 1: joining us from bloombig World headquarters in New York City.

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Speaker 1: I'm Kathleen Hayes along with Pim Fox live at Pershing's

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Speaker 1: Insight Conference at the Higher Agency in Orlando. This is

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Speaker 1: Bloomberg Radio. Bloomberg Taking Stock is brought to you by

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Speaker 1: Fordham University like a Belly School of Business ex Executive MBA,

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Speaker 1: top rank with a renowned professional network. Classes in Columbus

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Speaker 1: E m b A