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Speaker 1: Global business news twenty four hours a day. If 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's Business flat from Bloomberg World Headquarters.

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Speaker 1: I'm Charlie Peltadal the SMP Nestak Hall moving higher, Folks

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Speaker 1: from New York road runners ringing that closing belt as

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Speaker 1: we wrap up trading on this Fed minutes Wednesday, Markets

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Speaker 1: moving higher, SMP five hundred indecks up three now one

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Speaker 1: at the close. There that is a gain of two

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Speaker 1: tenths of one percent. Dow Industrial is up nineteen to

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Speaker 1: eighteen thousand, five hundred seventy one, a gain of one

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Speaker 1: tenth of one percent. NASTACK up a point to fifty

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Speaker 1: two twenty eight. Again there of less than one tenth

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Speaker 1: of one percent. Federal Reserve Meeting minutes, quelling speculation that

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Speaker 1: borrowing costs could rise as soon as next month. A

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Speaker 1: minute showed officials were divided in July over the urgency

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Speaker 1: to raise interest rates again. Peter Kenny is senior market

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Speaker 1: strategist at Glow Markets Advisory. He was our guest minutes

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Speaker 1: ago right here on taking stock. The issue for the

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Speaker 1: Fed is interest rates, and interest rates is not something

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Speaker 1: that they can really engage in in September in terms

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Speaker 1: of a race, it's not going to happen. And if

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Speaker 1: it's not in September, it's not going to be before

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Speaker 1: the elections, which means does it happen in December. That's

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Speaker 1: far enough off in terms of the calendar for investors

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Speaker 1: to not really have to focus on it. SMP five

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Speaker 1: in decks up three points to two, a gain of

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Speaker 1: two tenths of one percent, and has stack up a

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Speaker 1: point down. Industrial is up twenty. That is a gain

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Speaker 1: of one tenth of one percent. The tenure of six

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Speaker 1: thirty seconds yield one point five five percent. Gold lower

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Speaker 1: by four thirty eight a dropped there are three tenths

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Speaker 1: of one percent. West Texts Intermediate crewed up thirty cents

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Speaker 1: a barrel eight on w T I that's a gain

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Speaker 1: of six tenths of one percent. Among the retailers declining today,

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Speaker 1: Target it was down six point four percent, cutting its

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Speaker 1: annual forecast after the retail chain's sales slumped last quarter.

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Speaker 1: Heading in the other direction, Urban Outfitters, It advanced today

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Speaker 1: by fifteen point four percent. Again, Gold down three tents

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Speaker 1: of one four oh two on wall Street. Now, let's

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Speaker 1: look at other news from around the world. Charlie, Thank

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Speaker 1: you from the Bloomberg Newsroom by Mark Crumpton. Democratic presidential

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Speaker 1: nominee Hillary Clinton made a campaign stop in Cleveland, Ohio today.

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Speaker 1: She encouraged her supporters to get the word out. I

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Speaker 1: hope you will talk to any of your friends who

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Speaker 1: are flirting with the idea of voting for Donald Trump.

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Speaker 1: Friends don't let friends vote for Trump. And with less

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Speaker 1: than three months to go until election day, the Trump

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Speaker 1: campaign is undergoing a major staff shake up. The billionaire

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Speaker 1: real estate mogul is bringing in Stephen Bannon of Breitbart

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Speaker 1: News as chief executive officer and promoting pollster Kelly and

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Speaker 1: Conway to campaign manager. RNC communications director Sean Spicer. I

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Speaker 1: think in the final eighty three days, you're gonna see

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Speaker 1: a very focus, a very disciplined campaign that makes sure

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Speaker 1: that not only do we take the case to Hilly Clinton,

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Speaker 1: whether we put out a message that welcomes more people

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Speaker 1: into this party, understands the challenges and the frustration that

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Speaker 1: people face and give them a new vision and new

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Speaker 1: hope as to where this country can go. Campaign Chairman

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Speaker 1: Paul Manaford, who formerly took over the reins following the

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Speaker 1: departure of Corey Lewandowski, and June will retain his current title.

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Speaker 1: Four pro football players face suspension next week if they

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Speaker 1: don't talk to the NFL concerning allegations about band performance

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Speaker 1: enhancing substances. Commissioner Roger Goodell's office says the players are

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Speaker 1: obligated to cooperate with the investigation. The allegations against James Harrison,

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Speaker 1: Clay Matthews, Julius Peppers and Mike Neil arose in a

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Speaker 1: report last year by Al Jazeera. The players union says

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Speaker 1: the four aren't required to submit to interviews. Global News

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

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Speaker 1: journalists and and list in more than one twenty countries.

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Speaker 1: I'm more Crumpton. This is Bloomberg, Charlie, and we thank you.

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Speaker 1: And again we are on Cisco Watch. Should be getting

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Speaker 1: Cisco's results any minute now. We've got the doll the

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Speaker 1: SMPNAZDAC all advancing on this Wednesday, SMP up for two

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Speaker 1: a gain there of two tenths of one percent. I'm

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Speaker 1: Charlie Pellett and that's a Bloomberg business flash. Move around.

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Speaker 1: Morton creates the motion at the elite t move you

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Speaker 1: moved like they do. I've never seen anyone move that back.

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Speaker 1: Five people, Let's move like to greet a purpose. Stuff

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Speaker 1: is called movers and shakers. It costs a little more

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Speaker 1: of that name. Cracked me up. Bloomberg taking stock Movers

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Speaker 1: and Shakers with Pim Fox and Kathleen As on Bloomberg Radio.

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Speaker 1: Movers and Shakers for Wednesday, August the seventeen twenty is

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Speaker 1: sixteen three hundred and three issues in the SMP five

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Speaker 1: hundred move higher, one and nine, seven decline, and five

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Speaker 1: are unchanged. Dave Wilson, Bloomberg Stocks Commas joins us now

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Speaker 1: to begin our movers and shakers. Dave, Yeah, before I

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Speaker 1: mentioned a stock, let me just point out that, yes,

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Speaker 1: it's the eighth day in a row or the SMP

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Speaker 1: five hundred change direction from the previous day down up, down, up, down,

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Speaker 1: up down, and today up and in that time the

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Speaker 1: index has moved less than a point. Just goes to

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Speaker 1: show you what we're dealing with at this point. Wasn't

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Speaker 1: a good day though for for profit hospital chains. You know,

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Speaker 1: it was late Monday that at the set it would

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Speaker 1: withdraw next year from most markets where it's offering Affordable

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Speaker 1: Care Act coverage. You know, they followed the lead of

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Speaker 1: United Health and Humanity in scaling back their participation of

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Speaker 1: what's known as Obamacare. The moves triggered concerned that hospital

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Speaker 1: admissions may slow and they A debt may increase, and

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Speaker 1: that combination, well, you've got h c A holdings falling

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Speaker 1: two point eight percent on the day, Tenant health Care

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Speaker 1: down three point three and Community Health Services with a

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Speaker 1: loss of five point eight percent. We know, we've been

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Speaker 1: looking at a lot of retailers under pressure today for

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Speaker 1: a variety of reason. It's probably the big picture reason

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Speaker 1: for many of them, as people just aren't spending as

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Speaker 1: much money Target, Barnes and Noble, so many more. But

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Speaker 1: so let's take a look at somebody who is either

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Speaker 1: lucky or doing it right. Urban Outfitters up fifteen percent

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Speaker 1: today to thirty six dollars and change. Urban Outfitters topping

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Speaker 1: analyst estamates for second quarter sales and profits are Bloomberg.

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Speaker 1: Story by Nick Turner also talks about how children's places

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Speaker 1: doing well. They're gain only about a percent. Nevertheless, these

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Speaker 1: results do help brighten the outlook of a sector that

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Speaker 1: is suffering from sluggish small traffic a shift of young

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Speaker 1: shoppers to online shopping. In fact, Aeropostal American Apparel, Quicksilver,

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Speaker 1: and Pacific Sunwear have all filed for bankruptcy over the

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Speaker 1: past European not just telling you right now about Cisco.

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Speaker 1: The company coming out with its fourth quarter fiscal earnings

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Speaker 1: per share of sixty three cents that is better than

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Speaker 1: the average annless estimate of sixty cents. The company also

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Speaker 1: saying that it will cut up to fifty five hundred jobs.

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Speaker 1: Shares right now of Cisco are lower by about three percent.

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Speaker 1: In after hours of trading, I was gonna tay about

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Speaker 1: Caesar's Entertainment the shares higher by more than six percent.

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Speaker 1: The company says they've made progress in negotiations with dissident

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Speaker 1: bond holders and should have a deal before it's operating

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Speaker 1: units disputed bankruptcy plan goes up for a judge's approval.

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Speaker 1: This all according to a court appointed mediator. Once again,

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Speaker 1: shares of Caesar's Entertainment up more than six percent. Well,

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Speaker 1: Viacom has been locked in this power struggle between its

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Speaker 1: controlling shareholders Sumner Redstone and his daughter Sherry, and the

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Speaker 1: management under chief executive and chairman Philip Dowmond and now

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Speaker 1: Fortune magazines reporting that the two sides appear to be

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Speaker 1: close to an agreement under which Downmond would give up

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Speaker 1: his jobs. The reports sided unnamed sources and the prospect

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Speaker 1: of a management shuffle looking like a positive for Viacom,

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Speaker 1: the shares gaining two point one percent on the day. Well,

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Speaker 1: I want to take a look at Popeye's. This is

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Speaker 1: uh obviously a restaurant that has fallen victim to softening

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Speaker 1: sales across the restaurant industry. Popeye's, in fact down more

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Speaker 1: than ten percent. I want to just find my latest

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Speaker 1: look here. Yeah, and it was down more than ten percent.

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Speaker 1: It narrowed out last too, about five point six percent. Nevertheless,

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Speaker 1: it posted we could expected same story sales growth for

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Speaker 1: the second quarter and more. Uh It's CEO said that

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Speaker 1: slower sales were consistent with the sector. In other words,

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Speaker 1: other people are slowing down too. And in fact, even

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Speaker 1: as popeye sales weakened during the quarter, it grabbed market share,

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Speaker 1: hitting a record point six percent of the quick service

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Speaker 1: chicken segment. Not just hey that Cardinal Financial Corporation the

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Speaker 1: shares higher by more than five percent, today United Bank

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Speaker 1: shares and talks to buy the rival a lender the

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Speaker 1: Succording to a person familiar with the matter, the deal

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Speaker 1: perhaps will be announced in the coming days. Cardinal Financial

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Speaker 1: has total assets of about four point two billion, and

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Speaker 1: they have offices in Virginia, Maryland, and Washington, d C.

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Speaker 1: United Banks shares headquartered in Washington, d C. And Charleston,

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Speaker 1: West Virginia. Once again, the shares of Cardinal Financial up

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Speaker 1: more than five percent. Time Now for the volatility and

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Speaker 1: c disclosures. Learn more at cbe dot com. Slash Powerful

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Speaker 1: outcomes vixed, Well, not such a powerful outcome today. Now

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Speaker 1: the VIX had been on its way to its biggest

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Speaker 1: two day clime to day climb. I should stay in

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Speaker 1: seven weeks. Instead it's closing down a half point at

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Speaker 1: twelve point one six. All right, Dave, you're up. Hi,

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

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Speaker 1: We're going day tell us about Site one Landscape Supply. Now,

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Speaker 1: this is a company pin that does business with professionals

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Speaker 1: who design, install and maintain landscaping. Company refers to itself

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Speaker 1: as the largest and only national wholesale distributor of landscape

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Speaker 1: supplies in the US. It also does business in Canada.

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Speaker 1: Site one is backed by the buyout firm Clayton, Debilia

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Speaker 1: and Rice and the farm equipment maker Deer. Together their

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Speaker 1: stakes amount to sixty nine Clayton, Debillia and Deer accounted

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Speaker 1: for all the ten million shares the company sold in

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Speaker 1: May when it went public. Now Site one's ticker is

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Speaker 1: site s I t E, not a surprise giving its

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Speaker 1: name companies initial public offering, who has made as at

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Speaker 1: twenty one dollars a share and the stock ross high

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Speaker 1: as forty dollars and fifty five since last month. Today

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Speaker 1: brought a setback which followed the release of second quarter results.

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Speaker 1: Site one's revenue failed to meet the average animalist testament

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Speaker 1: in the Bloomberg survey, and sales excluding newly acquired businesses,

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Speaker 1: which the company calls organic revenue dropped two in the quarter,

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Speaker 1: and Site one shares suffered their biggest one day drop

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Speaker 1: since the I p O. They declined as much as

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Speaker 1: twelve percent of today's trading before closing with a loss

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Speaker 1: of five points seven. Dave Wilson, thank you so very much.

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Speaker 1: He is our stocks editor and if you listen every day,

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Speaker 1: you know he's our resident musicologist. Playing Jimmy hendricks Is

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Speaker 1: star Spangled banner Wood Stock on fort anniversary of that performance.

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Speaker 1: I'm Kathleen Hayes along with Pim Fox. Up next, Jim

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Speaker 1: Webber from Brooks Running. He's based in Seattle. He's in

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Speaker 1: our New York studio today. A look at the Olympics.

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Speaker 1: Yet another way in which it favors some of the

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Speaker 1: people put the Olympics together, but isn't so good for

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Speaker 1: the f welits. This is Bloomber Bloomber. Taking stock is

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Speaker 1: brought to by cash pro, the cash management platform from

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Speaker 1: Bank of America Merrill Lynch. Cash pro let you stay

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Speaker 1: on top of your working capital in real time. It's

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Speaker 1: totally pro business. That's the power of global connections.