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Speaker 1: Global business news twenty four hours a day. It's Bloomberg

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Speaker 1: dot Com, the Radio plus Mobile Act 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: I'm Charlie. Tell to Dow. The SMP NESDAK all decline today.

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Speaker 1: Stock slipped from records as hawkish comments from the Federal

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Speaker 1: Reserve official took some momentum out of a six week

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Speaker 1: rally amid concerns growth may not be sturdy enough yet

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Speaker 1: to bear higher interest rates. The SMP five hundred index

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Speaker 1: down eleven of the close to seventy eight, a drop

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Speaker 1: of five tenths of one percent down, industrials down eighty

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Speaker 1: three points to eighteen thousand, five hundred fifty two, a

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Speaker 1: drop of five tenths of one percent, and has stack

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Speaker 1: down thirty five to fifty two twenty seven, a drop

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Speaker 1: of seven tenths of one percent. New York Fed President

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Speaker 1: Bill Dudley said the Federal Reserve could potentially raise rates

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Speaker 1: as soon as next month, warning investors they are underestimating

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Speaker 1: the likelihood of increases in bar throwing costs. Reaction from

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Speaker 1: car Ricadonna, chief US economist at Bloomberg Intelligence, who was

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Speaker 1: interviewed right here on taking stock. I don't think he's

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Speaker 1: a very serious about September height being on the table,

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Speaker 1: but I think he's trying to push back against the

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Speaker 1: sanguine attitude in the market, which he is on many

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Speaker 1: occasions in the past kind of criticized. Down day for stocks.

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Speaker 1: But Dick's Sporting good shares advanced today by seven percent

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Speaker 1: after boosting its annual forecast. Assigned the chain will benefit

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Speaker 1: from the demise of rival sports authority Hayne. Celestial Group,

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Speaker 1: a supplier of organic and natural products the whole foods

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Speaker 1: market and other grocers, plunged the most in more than

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Speaker 1: fifteen years after delaying financial results on accounting concerns and

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Speaker 1: abandoning its full year targets. Hayne down today by twenty

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Speaker 1: six point three percent. Home Depot out with earnings this morning,

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Speaker 1: shares down six tenths of one percent. Second quarter profit

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Speaker 1: rose nine point three percent. It did boot it's earnings

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Speaker 1: forecast for the year. The tenure down five thirty seconds,

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Speaker 1: the yield one point five seven percent, Gold up four

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Speaker 1: thirty ounce, the thirteen forty seven a gain of three

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Speaker 1: tenths of one percent. SMP down twelve the torop of

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Speaker 1: five tenths of one percent four oh two on Wall Street.

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Speaker 1: Now the other stories making news. Charlie, Thank you from

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Speaker 1: the Bloomberg news Room by Mark Crumpton. Hillary Clinton has

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Speaker 1: pledging to tighten gun control, even as she again rejects

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Speaker 1: Donald Chump's claim that she would abolish this second amendment.

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Speaker 1: Clinton told supporters at a voter registration event in Philadelphia

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Speaker 1: that she would push for comprehensive background checks, close loopholes

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Speaker 1: and gun laws, and bar people on terror watch lists

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Speaker 1: from buying guns. The European Aviation Safety Agency wants to

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Speaker 1: toughen medical exams for pilots, including better mental health assessments.

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Speaker 1: It's in response to German wings pilot Andreas Lupez in

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Speaker 1: March of Lubez locked his captain out of the cockpit

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Speaker 1: and am the plane into a mountain side. All one

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Speaker 1: hundred fifty people on board were killed. The aviation agency

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Speaker 1: is calling for including drugs and alcohol screening, comprehensive mental

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Speaker 1: health assessments, as well as improved follow ups involving psychiatric conditions.

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Speaker 1: Michael Barr Bloomberg Radio, Washington, d C. Police Chief Cafee

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Speaker 1: Lanier announced today she'll retire next month and take over

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Speaker 1: as head of security for the National Football League. I

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Speaker 1: owe my life to the city, to the residents, and

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Speaker 1: to the department. And that's why I say every day

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Speaker 1: that I came to work, it didn't feel like work

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Speaker 1: to me. Lanier has been on the d C force

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Speaker 1: for twenty six years. The World Trade Center Mall is

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Speaker 1: reopening today. The three hundred sixty five thousand square foot

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Speaker 1: center will eventually have more than one hundred stores, with

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Speaker 1: about sixty opening today. The mall stretches along a four

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Speaker 1: block underground network that spans the basis of three office towers.

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

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Speaker 1: than twenty six hundred journalists and and was in more

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Speaker 1: than one countries. I'm more Crumpton. This is Bloomberg, Charlie,

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Speaker 1: and we thank you and again recapping a twelve point

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Speaker 1: loss today for the SMP five d indecks down six

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Speaker 1: tenths of one percent to I'm Charlie Pelton. That's a

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Speaker 1: Bloomberg business flash move around. Motion creates promotion. The elite

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Speaker 1: t move You moved like they do. I've never seen

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Speaker 1: anyone move that fast hard people's mood like to get

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Speaker 1: a purpose that he was called movers and shakers. They

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Speaker 1: cost 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. Well, the votes are in if

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Speaker 1: you consider people buying and selling stocks today, and they're

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Speaker 1: definitively to the downside. Only one stock companies UH company

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Speaker 1: shares closing higher today for eight closing lower, six unchained.

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Speaker 1: So we've got lots to look at in that moving

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Speaker 1: and shaking in both columns. Dave Wilson, our stocks editor,

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Speaker 1: who joins us, Now, what are you starting with? You're

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Speaker 1: always sure do and let's start out with active Vision Blizzard,

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Speaker 1: the video game maker, Call of Duty, many other titles.

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Speaker 1: Chief executive Bobby Kotick and chairman Brian Kelly sold about

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Speaker 1: seventy and a half million shares of the company that

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Speaker 1: they previously owned through a partnership, the sale raising seven

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Speaker 1: hundred nine million dollars, cutting their stakes almost in half.

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Speaker 1: And all those shares being sold that did not go over, well,

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Speaker 1: you had Activision Blizzard as the third worst performer in

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Speaker 1: the S and P five hundred today of the stock

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Speaker 1: falling five point two percent. I'll tell you about Lockheed Martin.

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Speaker 1: The shares down by a little bit more than three

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Speaker 1: and a half percent. This is the biggest decline in

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Speaker 1: more than in six months. They disclosed that a four

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Speaker 1: point six billion dollars spinoff of its information technology division

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Speaker 1: to Lightos Holdings would provide less of a boost earnings

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Speaker 1: than investors had previously estimated. Now, Lockheed repurchased nine point

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Speaker 1: four million shares through the tax free transaction it's called

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Speaker 1: a reverse Morris trust, but that was less than a

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Speaker 1: ten million shares that investored had estimated that the company

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Speaker 1: would retire meeting the deal will provide less of a

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Speaker 1: list lift to lockheeds earnings on a per share basis.

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Speaker 1: This all according to Joseph de Nardi, an analyst over

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Speaker 1: its defil Nicholas and Company. Once again, shares of Lockheed

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Speaker 1: Martin down three and a half percent. Well, let's look

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Speaker 1: at home Depot Home Deeple. Of course, the world's largest

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Speaker 1: home improvement retailer, posting second quarter profit that was up

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Speaker 1: nine point three percent, boosted their earnings forecast for the year.

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Speaker 1: And of course, Americans just can't get enough home improvement

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Speaker 1: these days. In fact, brat Hunter was on the show

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Speaker 1: earlier today chief economist at Home Advisor, and he was

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Speaker 1: talking about how people are spending more money on larger projects.

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Speaker 1: This is definitely a trend that is in place now,

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Speaker 1: but instead of being higher as it was to a

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Speaker 1: certain for a certain time earlier, today home people down

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Speaker 1: a bit about point six at the close our own

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Speaker 1: Dave Wilson pointing out today on the show that second

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Speaker 1: quarter earnings and revenue only match the average analyst estimates

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Speaker 1: in a Bloomberg survey, and the full year profit forecast

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Speaker 1: was lower than the average projection even after being raised.

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Speaker 1: So Dave Wilson, thank you for sending us straight. Well,

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Speaker 1: I do what I can. You had a similar story

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Speaker 1: in terms of the forecast at t j X. This

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Speaker 1: is the owner of the off price chains tj Max,

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Speaker 1: Marshall's and Home Goods. Uh. They came out and actually

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Speaker 1: raised their full year earnings estimate. They're now looking for

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Speaker 1: profit to be as highest three dollars and forty three cents.

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Speaker 1: Problem is, the average analystestimate and Bloomberg survey called for

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Speaker 1: earnings of three fifty So when you come up short

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Speaker 1: like that, it does not get a great reception from investors.

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Speaker 1: And t j X one of the worst performers in

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Speaker 1: the SMP five hundreds to day with the loss of

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Speaker 1: five eight percent. The shares of Cody, they are the

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Speaker 1: seller of Calvin Klein fragrances, among others, felt the most

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Speaker 1: in three months, a drop of five percent after failing

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Speaker 1: to provide investors with enough forecast for the performance of

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Speaker 1: the company. After it completes its acquisition of Procter and

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Speaker 1: Gambles beauty brands, once again, the shares down a little

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Speaker 1: bit less than five percent. Cody is working to integrate

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Speaker 1: more than forty Procter and Gamble beauty products that will

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Speaker 1: include Gucci fragrances, Cover Girl Cosmetics, as well as Max

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Speaker 1: Factor makeup. It's a twelve and a half billion dollar deal.

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Speaker 1: It was announced a year ago July. It's expected to

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Speaker 1: turn Cody into the world's third largest cosmetics company. It's

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Speaker 1: estimated it will close in October. Once again, shares of

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Speaker 1: Cody down five percent. I want to take a look

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Speaker 1: Dick Sporting Goods. Dick's having quite a day to day,

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Speaker 1: as up as much as tempercent at one point at

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Speaker 1: the close more than seven percent. It boosted its annual

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Speaker 1: forecast and it now expects earnings of two dollars and

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Speaker 1: ninety cents to three dollars and five cents to share,

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Speaker 1: compared with the forecast of as much as to uh

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Speaker 1: to nine in May same store sales. That says we'll

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Speaker 1: gain two to three percent, and previously it said sales

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Speaker 1: might decline one percent. It's a clear sign, according to

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Speaker 1: Nick Turner Bloomberg News, the chain is going to benefit

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Speaker 1: from the demise of its rival sports authority. All right,

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Speaker 1: it's time now for the Volatility Index Report. It's brought

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Speaker 1: to you by cbo E VIS Options and Futures. Volatility

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Speaker 1: can be harnessed with cbo E VIS Options and Futures

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Speaker 1: CE disclosures. Learn more at cboe dot com Slash Powerful

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Speaker 1: Outcomes VIX. The VIX moved higher today. It was up

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Speaker 1: five and three quarters of a percent, a gain of

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Speaker 1: point six nine, settling at twelve point five. Oh and

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Speaker 1: many of the world's investing elites such as Carlicon, sam Zell,

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Speaker 1: Stanley Druck and Miller, as well as George Soros doubling

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Speaker 1: their bets on bearish bets on the SMP five in

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Speaker 1: the past quarter, and the VIX moose higher today. All Right,

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Speaker 1: Dave you're uh, Hi, my name is Dave. Just what

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Speaker 1: do you think you're doing things? We're Dave, Dave, al right,

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Speaker 1: Mr Wilson Fabrinet. Uh. Their shares are down, but the

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Speaker 1: analyst had showed earlier some really unqualified support. What happened? Well,

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Speaker 1: look at it this way. When the company has been

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Speaker 1: on a roll and it shares of surge, it doesn't

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Speaker 1: take much to give investors a reason for pause or

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Speaker 1: for selling. This may explain what happened to Fabrinet. This

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Speaker 1: is a company that makes fiber optic equipment under contract

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Speaker 1: for for other producers. UH. Fabrinets, listed under the ticker

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Speaker 1: f END. Company released fiscal fourth quarter results after yesterday

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Speaker 1: is closing up to then. The socks game for the

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Speaker 1: year stood at seventy eight per ent. Fabrinettes earnis only

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Speaker 1: matched analyst average estimate Bloomberg survey after feating projections for

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Speaker 1: the previous six quarters, companies forecasts showed first quarter results

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Speaker 1: were more likely to trail estimates sent to come out ahead.

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Speaker 1: And as you mentioned, Kathleen, analysts who followed Fabrinette weren't

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Speaker 1: phased by this. Data compiled by Bloomberg shows six analysts

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Speaker 1: cover the company, all of them went into the report

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Speaker 1: with some kind of by rating on the stock, and

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Speaker 1: afterward they all raised their share price estimates. Traders and investors, though,

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Speaker 1: were more skeptical. While Fabrinette rose as much as six

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Speaker 1: point four percent at the open, the shares gave back

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Speaker 1: their game within minutes and later dropped as much as

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Speaker 1: nine and a half percent, and they ultimately closed. Fabrinette

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Speaker 1: did with a loss of about six percent on the day.

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Speaker 1: Thank you very much, Dave Wilson, Bloomberg Stocks, Colmist. You're

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Speaker 1: listening to taking Stock, I'm pim Fox. My co host

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Speaker 1: Kathleen Hayes. Coming up, we'll find out what to do

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Speaker 1: with your money. If you're looking to avoid volatility. This

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Speaker 1: is Blue Burke Well High volatility, low volatility. We know

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Speaker 1: we've watched the VIX very closely on this show. David

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Speaker 1: Harden's president and CEO of Sewhat Global Investments on a

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Speaker 1: low volatility investment strategy. This is Bloomberg h