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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 LAPP and on your radio.

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Speaker 1: This is a Bloomberg Business Rush from Bloomberg World Hendquarters.

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Speaker 1: Sim Charlie Pullott. Record closed for the Dow Jones Industrial

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Speaker 1: Average and the SMP five hundred index. Spokes from Dunn

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Speaker 1: and brad Street, ringing that closing bell positive earnings setting

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Speaker 1: the tone for equity markets, pushing stocks to records. The

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Speaker 1: dollar trading at a seven week highest. Speculation grows the

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Speaker 1: US will raise interest rates this year. SMP five hundred

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Speaker 1: Index up nine to seventy three, a gain of four

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Speaker 1: tenths up one percent. Down industrials up there He's six

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Speaker 1: points to eighteen thousand, five hundred ninety five, a gain

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Speaker 1: of two tenths of one percent. The NANA stank compositive

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Speaker 1: indecks up fifty three points to five thousand eighty nine,

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Speaker 1: hired today by one point one percent. The tenure down

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Speaker 1: eight thirty seconds at heel one point five eight percent.

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Speaker 1: Gold down eighteen twenty to thirteen fourteen, a drop of

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Speaker 1: one point four percent. Crude oil higher West Texas Intermediate

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Speaker 1: of twenty nine cents of barrel forty ninety four a

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Speaker 1: game there of seven tenths of one percent. Gordon Johnson

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Speaker 1: is with Axiom Capital Management, and moments ago right here

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Speaker 1: on taking stock, he warned of a moved lower for

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Speaker 1: crude oil. It's the real issue I have with oil

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Speaker 1: and why we think of a near term oil prices

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Speaker 1: are gonna fall is because our worries lie with the

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Speaker 1: products gasoline and diesel um. And if you look at

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Speaker 1: the products, they're step to the gills across the world,

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Speaker 1: the US, EU would and also Asia UM. So you

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Speaker 1: know that is essentially demand for oil. And then from

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Speaker 1: a supply perspective, we think OPEC is going to increase supply.

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Speaker 1: And again West Texas intermediate crude now at forty four

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Speaker 1: and ninety four apparrel advancing seven tents of one percent.

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Speaker 1: Annheuser bush InBev has won US and he Trust approval

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Speaker 1: for its takeover of s A Billa b Miller after

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Speaker 1: the maker of Budweiser agreed to give up ownership with

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Speaker 1: the Miller brand and open the door to greater competition

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Speaker 1: from craft Beers and Deutsche Loftansa has cut its twenty

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Speaker 1: sixteen profit forecast after terrorist attacks and economic uncertainty, SAT

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Speaker 1: demand for European travel, recapping stocks, higher records for the SMPM,

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Speaker 1: the now smp op nine to seventy three. And now

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Speaker 1: let's take a look at the other stories making news. Charlie,

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Speaker 1: thank you from the Bloomberg News Room. I Mark Crumpton,

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Speaker 1: Donald Trump, and Mike Pence are in Cleveland, where Pence

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Speaker 1: will speak at the Republican National Convention tonight. Trump's campaign

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Speaker 1: manager Paul Manafort denies the nominee is fueling an angry

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Speaker 1: tone at the convention. He says, the audience and voters

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Speaker 1: are frustrated. There is an anger at among the delegates.

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Speaker 1: Uh that is out there in America, where people are

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Speaker 1: feeling frustrated by little, failed certain leadership, by the their

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Speaker 1: difficult economic times, and by the their fear of living

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Speaker 1: in their communities. Former presidential hopeful Ted Cruz will also

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Speaker 1: make remarks this evening. It's unclear whether he will endorse Mr. Trump.

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Speaker 1: The Hispanic Chamber of Commerce is backing Hillary Clinton. It's

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Speaker 1: the first ever presidential endorsement in the organization's thirty eight

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Speaker 1: year history. At a meeting of more than thirty foreign

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Speaker 1: ministers today in Washington, U s. Secretary of State John

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Speaker 1: Kerry announced that donor countries are pledging another round of

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Speaker 1: humanitarian aid to Iraq. I'm pleased to announce that by

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Speaker 1: securing more than two billion dollars of pledges that we

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Speaker 1: know will be forthcoming, we have exceeded our expectations. Secretary

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Speaker 1: Kerry said, Islamic state remains a threat. International art dealer

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Speaker 1: Gojin Gallery will pay more than four million dollars in

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Speaker 1: back sales taxes in New York State. State Attorney General

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Speaker 1: Eric Schneiderman says the companies affiliates sold and shipped nearly

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Speaker 1: forty million dollars of art without collecting or paying state

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Speaker 1: in local taxes. Global News twenty four hours a day,

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Speaker 1: powered by more than twenty d journalists and analysts in

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Speaker 1: more than one hundred twenty countries. I'm more Crumpton, this

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Speaker 1: is Bloomberg, Charlie, and we thank you. And just getting

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Speaker 1: numbers now. From Intel's second quarter adjusted earnings per share

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Speaker 1: fifty nine cents estimates, there were four fifty four cents. Again,

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Speaker 1: recapping equities higher smp op nine to seventy three. Again,

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Speaker 1: there are four tenths of one percent. I'm Charlie, Pellett,

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Speaker 1: and that's a Bloomberg business flash. Move around motion creates

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Speaker 1: the motion move you move like they do. I've never

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Speaker 1: seen anyone move that back tired people. I moved like

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Speaker 1: dread a purpose that he's 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: A on Bloomberg Radio Movers and Shakers for Wednesday to

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Speaker 1: a lot of twenties. Sixteen out of the SMP five hundred,

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Speaker 1: three hundred and fourties, six issues move higher, one hundred

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Speaker 1: and fifty six decline, and three remain unchanged. Dave Wilson,

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Speaker 1: Bloomberg Stocks Commas joins me now to begin our movers

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Speaker 1: and shakers. Dave, Yeah, let's start out with human of

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Speaker 1: him because the health insurers would be buyer. ETNA said

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Speaker 1: it's ready to go to court if necessary to complete

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Speaker 1: the thirty seven billion dollar deal, and it may well

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Speaker 1: be necessary. We reported yesterday that the proposed purchase faces

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Speaker 1: a US anti trust lawsuit, and so does potentially at

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Speaker 1: least Anthem's plan takeover of Signa. So when you put

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Speaker 1: that all together, you've got HUMANAG shares of three point

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Speaker 1: three percent in today's trading, and EDNA higher as well

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Speaker 1: with the gain of one point two percent. We're gonna

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Speaker 1: be giving more information about Intel coming up once again.

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Speaker 1: Second quarter adjusted earnings per share fifty nine cents. It's

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Speaker 1: the estimate average an assessment from Bloomberg fifty four cents.

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Speaker 1: We'll be watching Intel shares in the after hours of market.

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Speaker 1: I wanted to talk a little bit about Kellogg. The

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Speaker 1: shares a Kellogg down about five and a half percent today. Um,

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Speaker 1: they did say that there is no truth to no

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Speaker 1: truth to any speculation about a Craft deal. But the

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Speaker 1: Kellogg shares down the most this year, outpacing the losses

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Speaker 1: in the industry sector and UH while taking a look

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Speaker 1: at trading volume more than quadruple the average for Kellogg.

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Speaker 1: In addition to the falling stock price, relative strength index

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Speaker 1: above seventy, indicating that it might be overbought once again,

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Speaker 1: net debt. Taking a look at some key highlights from

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Speaker 1: the Kellogg three times earnings before interest, taxes and depreciation,

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Speaker 1: and once again, shares of Kellogg down five and a

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Speaker 1: half percent today. Well, we have numbers out of American Express,

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Speaker 1: you know the earnings looked okay, two hours and ten

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Speaker 1: cents to ship there for the second quarter, beating the

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Speaker 1: average estimate of a dollar ninety seven revenue, though not

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Speaker 1: looking so great eight point to four billion dollars their

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Speaker 1: average estimate of eight point four six billion. Looking at

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Speaker 1: American Express in late trading in the wake of those results, Uh, well,

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Speaker 1: we're still waiting to see much of a reaction, at

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Speaker 1: least for the moment. All right, let me tell you

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Speaker 1: about the reaction at Campbell's soup shares. They are down

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Speaker 1: more than three percent today. Campbell Soup forecasting at sixteen

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Speaker 1: sales will decline between one and two percent. They had

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Speaker 1: previously said that sales would be down one percent to unchanged.

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Speaker 1: They did reaffirm their annual guidance earnings per share between

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Speaker 1: two ninety three and three dollars. The estimate was for

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Speaker 1: two dollars and cents. And they're looking for additional cost

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Speaker 1: savings and they say that they will have between two

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Speaker 1: hundred and five and two hundred million dollars and cost savings.

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Speaker 1: All that not enough to move the stock higher. Shares

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Speaker 1: a Campbell Soup or by three percent. Well, twenty first

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Speaker 1: century Fox is one of those companies that has two

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Speaker 1: classes of shares in the S and P five and

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Speaker 1: both of them went down. Today. Fox News chairman Roger

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Speaker 1: rails and talks to leave the network. According to The

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Speaker 1: New York Times, the discussions follow up filing of a

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Speaker 1: sexual harassment lawsuit two weeks ago by former anchor Gretchen Carlson.

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Speaker 1: And when you look at twenty first century Fox, you

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Speaker 1: see Class A shares of that company UH down two

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Speaker 1: point seven percent, and those shares don't carry voting rights.

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Speaker 1: The Class B shares that do well, they fell UH

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Speaker 1: two point three percent on the day. Haliburton stock down

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Speaker 1: one and a half percent. Haliburton cutting about five thousand

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Speaker 1: jobs in the second quarter. It's trying to position itself

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Speaker 1: for a recovery in North America for the second half

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Speaker 1: of the year. This is the world's largest provider of

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Speaker 1: hydraulic fracking equipment. It reported a loss of three point

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Speaker 1: two one billion dollars or three dollars and seventy three

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Speaker 1: cents a share air once again. Shares of Haliburton down

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Speaker 1: one and a half percent. Alright, it's time now for

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Speaker 1: the Volatility Index Report, brought to you by cbo E

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Speaker 1: VIX Options and futures. Volatility can be harnessed with cbo vicks,

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Speaker 1: options and futures see disclosures. Learn more at cbo e

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Speaker 1: dot com Slash Powerful Outcomes Vix. The VIX down once

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Speaker 1: again today, down nearly two percent, down one point nine percent,

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Speaker 1: a drop of zero point two three, settling at eleven

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Speaker 1: point seven four. This is the sixth consecutive decline for

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Speaker 1: the VIX, and it is currently trading at a significant

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Speaker 1: discount to its historical average. All right, Dave, you're 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 for a price down, Dave. Hey, Mr Wilson

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Speaker 1: tell us about a science and engineering firm based in

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Speaker 1: Menlo Park, California called Exponent. Okay, let's start out with

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Speaker 1: a little description of mathematics and exponents shows how many

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Speaker 1: times to multiplay a specified value in an equation when

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Speaker 1: you're you know, squaring it or cubing it or whatever.

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Speaker 1: An Exponent is indeed the name of a consulting firm

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Speaker 1: specializing in science and engineering, and the company's logo shows

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Speaker 1: the letter X as you guessed it an exponent. Exponent

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Speaker 1: has been publicly trance companies, Tickers, Expo, the first four

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Speaker 1: letters of its name. It shares rose in sixteen of

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Speaker 1: the past seventeen years and serves as much as thirty

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Speaker 1: nine fold along the way. The exception was two thousand nine,

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Speaker 1: when the stock slid seven and a half percent. Now

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Speaker 1: whether Exponent can rise again this year is now in doubt.

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Speaker 1: Second quarter results proved disappointing. Earnings trailed analysts average estmate

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Speaker 1: in the Bloomberg survey for the first time since twelve,

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Speaker 1: and sales were lower than projections. Exponents cited the oil

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Speaker 1: and gas, chemical and auto industries of as areas of

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Speaker 1: weakness in the latest order, and the company also cut

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Speaker 1: forecasts for the year uh In response, Exponent shares tumbled

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Speaker 1: as much as twenty three percent in today's trading. They

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Speaker 1: closed with a loss of eleven percent, the biggest since

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Speaker 1: December two thousand eight. Dave Wilson, Thank you very much,

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Speaker 1: Bloomberg Stocks commis go ahead. Send Dave an email at

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Speaker 1: d Wilson at Bloomberg dot net and sign up for

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Speaker 1: his daily free email newsletter. It will make you a

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Speaker 1: smarter investor. You can also follow Dave on Twitter at

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Speaker 1: the one Dave Shares of Intel right now down a

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Speaker 1: little bit more than one percent and after hours trading.

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Speaker 1: This despite reporting second quarter adjusted earnings for share of

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Speaker 1: fifty nine cents. Estimate was for fifty four cents. That

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Speaker 1: the company sees restructuring charges up more than four hundred

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Speaker 1: million from their prior view. They'll be taking the charge

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Speaker 1: of one point six billion dollars. We've got more on

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Speaker 1: Intel and Qualcom. Next whom we're taking stock is brought

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Speaker 1: to you by Bank of America. Mery Lynch committed to

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Speaker 1: bringing higher finance to lower carbon name the most innovative

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Speaker 1: investment bank for climate change and sustainability by the banker.

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Speaker 1: That's the power of global connections. Bank of America in

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Speaker 1: a fd I c