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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 Act and on your radio.

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Speaker 1: This is a Bloomberg Business Flash. As that closing bell sounds,

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Speaker 1: the DON Industrial Average is down one thirty seven points

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Speaker 1: three quarters of a percent trading and seventeen thousand, seven

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Speaker 1: hundred fifty three S and P five hundered down eighteen

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Speaker 1: point seven eights of a percent to two thousand sixty three,

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Speaker 1: and then AzaC is down fifty four points, a loss

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Speaker 1: of one point one percent at forty seven at sixty three.

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Speaker 1: US equity benchmarks extended the dunward spiral after global stocks

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Speaker 1: fell earlier evidence of week even on the growth around

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Speaker 1: the world, fuel to retreat from riskier assets. Paul Nolty,

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Speaker 1: portfolio manager at Kingsview Asset Management, says investors are concerned

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Speaker 1: about global economic growth. This probably is at least early

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Speaker 1: on a correction of the run that we've had from

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Speaker 1: the February bottom. I mean, the market can't really rise

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Speaker 1: at that pace forever, so I think we're adjusting some

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Speaker 1: of those games right now. Oil tumble below forty four

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Speaker 1: dollars a barrel ahead of a government report that's expected

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Speaker 1: to show an increase in crude supplies. Last week, West

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Speaker 1: Texas intermediate crude oil down a dollar eleven and barrel

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Speaker 1: two and a half percent to forty three sixty seven.

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Speaker 1: Sparckled down seven dollars. AM s the twelve eighty and

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Speaker 1: the tenure Treasury You have twenty one thirty seconds, with

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Speaker 1: the yield of one point seven nine percent. Among today's

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Speaker 1: top business stories, auto sales approached records in some categories

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Speaker 1: in April. Honda led major automakers with a fourteen point

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Speaker 1: four percent sales increase in the US. Last month, both

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Speaker 1: its cars and suv sold well. Nissan sales rose twelve

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Speaker 1: point eight percent and Fiat Chrysler's were up six percent

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Speaker 1: on record jeep sales. Ford set an April record for

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Speaker 1: suv sales, which led to a four percent increase in

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Speaker 1: its total sales. Only GM and Volkswagen saw sales declines.

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Speaker 1: GM blamed a three and a half percent drop on

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Speaker 1: a strategy of cutting low profit sales to rental car companies.

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Speaker 1: Sprint is reducing its capital spending by thirty six percent

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Speaker 1: this year. It's betting it can conserve cash and still

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Speaker 1: improve its wireless network and add customers. In an increasingly

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Speaker 1: competitive marketplace. EBS first quarter profit fell short of analysts estimates,

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Speaker 1: hurt by the weakest start to the year in investment banking.

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Speaker 1: And now let's get an up day to have some

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Speaker 1: of the other stories we're following today on Bloomberg Radio. Catherine,

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Speaker 1: Thank you from the Bloomberg news Room, by Mark Crumpton.

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Speaker 1: Former Assembly Speaker Sheldon Silver has been sentenced to twelve

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Speaker 1: years in prison. Silver was convicted in November in a

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Speaker 1: five million dollar corruption case. The seventy two year old

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Speaker 1: disbarred lawyer was a power broker in the Assembly for

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Speaker 1: more than two decades. Its primary day in Indiana, speaking

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Speaker 1: in Evansville, Senator Ted Cruz criticized Donald Trump and a

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Speaker 1: last ditch effort to prevent the front runner from winning

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Speaker 1: the state and most likely the GOP nomination. The country

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Speaker 1: is depending on Indiana. Indiana does not act, this country

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Speaker 1: could well plunge into the Democratic present Evential front runner

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Speaker 1: Hillary Clinton's on the campaign trail in West Virginia, she

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Speaker 1: told that Charleston audience, the opioid and heroin epidemic in

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Speaker 1: the US has touched nearly every life in the nation,

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Speaker 1: including hers. Young man I knew the best was actually

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Speaker 1: interning for me at the State Department. Both Hillary Clinton

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Speaker 1: and Donald Trump are expected to win Indiana. Today. Secretary

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Speaker 1: of State Kerry is condemning a deadly hospital attack in

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Speaker 1: the Syrian city of Aleppo. He says the missile appears

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Speaker 1: to have been fired from rebel controlled territory. Kerry says

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Speaker 1: the US won't accept violence against civilians, whether it's by

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Speaker 1: the Syrian government or by Western backed opposition. At least

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Speaker 1: twenty people died today when rocket fire struck the maternity

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Speaker 1: hospital and a government held section of the city. A

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Speaker 1: three month investigation has ended with the arrest of thirteen

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Speaker 1: people on charges of smuggling cocaine from Puerto Rico to

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Speaker 1: the streets of New Jersey and New York. Global News

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

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Speaker 1: more than one hundred fifty news bureaus around the world.

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Speaker 1: From the Bloomberg News Room by Mark Cronton Catherine, Thank you, Bloomberg.

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Speaker 1: Taking SAK has brought to you by S. S S and

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Speaker 1: C more experienced, superior technology, independence and expertise. That's how S,

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Speaker 1: S and C drives a future of fund administration. S,

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Speaker 1: S and c they are the future a fund administration.

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Speaker 1: Here's a quick check of the equity benchmarks as they

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Speaker 1: begin to settle down industrial leverage down one hundred forty

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Speaker 1: points to seventeen thousand, seven hundred fifty s and P

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Speaker 1: five foundered down eighteen points to two thousand sixty three,

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Speaker 1: then has to act down fifty four points to forty

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Speaker 1: seven at sixty three. And that's a Bloomberg business flash

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Speaker 1: wove around mortungre promotion. I feel later moved on the

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

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Speaker 1: that fast. Five people's moved like to get a purpose

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Speaker 1: that was called movers and shakers. That costs a little

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Speaker 1: bit of that name cracked me up. Bloomberg taking stock

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Speaker 1: movers and Shakers with bim Box and Kathleen Hay's on

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Speaker 1: Bloomberg Radio. Movers and Shakers for this Tuesday made the

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Speaker 1: third twenties sixteen. The constituents of the SMP five hundred,

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Speaker 1: one hundred and two move higher, four hundred and one

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Speaker 1: move lower, and two remain unchanged. Let's bring in Dave Wilson,

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Speaker 1: Bloomberg Stocks Calmus to begin our movers and Shakers stage.

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Speaker 1: I want to talk about one of those hundred and

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Speaker 1: two that would be Fightser. I mean, because they were

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Speaker 1: out with earnings and they were pretty well received. First

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Speaker 1: quarter profit of the drugmaker surpassed analyst averagessment in Bloomberg survey,

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Speaker 1: revenue beat projections by the widest margin in more than

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Speaker 1: a decade, and Fightser raised profit in sales forecast for

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Speaker 1: the full year. So a lot of things going right.

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Speaker 1: Based on those results, Visors shares among the ten best

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Speaker 1: performers in the SMP five hundred to a and also

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Speaker 1: top performer in the Dow Jones Industrial Average with a

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Speaker 1: gain of two points seven percent. Alright, guys, I'm going

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Speaker 1: to take a look at CVS. Their first quarter profit

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Speaker 1: beat analysts estimates. They were helped by higher prescription claims

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Speaker 1: and acquisition of a nursing home pharmacy business. Earnings that

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Speaker 1: a buck eighteen is share excluding one time items, comparing

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Speaker 1: with a dollar sixteen average of our Bloomberg predictions. CBS

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Speaker 1: has been booking up through acquisitions to expand its presence

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Speaker 1: in more pharmacy businesses as drug reimbursement rates to climb

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Speaker 1: revenue from nursing home pharmacy. On the care About in

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Speaker 1: August for twelve point nine billion, was a main driver

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Speaker 1: of sales growth. Pan. All right, let's take a look

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Speaker 1: at Pitney Bows. To share is lower today by nine

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Speaker 1: and a half percent as first quarter results missed analyst estimates.

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Speaker 1: The office technology provider missing estimates by six cents. Adjusted

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Speaker 1: earnings thirty four cents a share. Revenue also of falling short.

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Speaker 1: The company said it did not properly execute in its

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Speaker 1: software solutions business, but it is taking steps to correct

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Speaker 1: that situation once again. Shares of Pitney Bows lower today

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Speaker 1: by nine and a half percent. I'm taking a look

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Speaker 1: at CBS because they're just out with their latest results

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Speaker 1: and it looks like they're being pretty well received. Adjusted

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Speaker 1: earnings from continuing operations for the first quarter a dollar

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Speaker 1: two of share and all this average estimate in Bloomberg

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Speaker 1: surveday cents revenue pretty much in line with projections. But

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Speaker 1: just looking at CBS shares in late trading, uh, they're

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Speaker 1: up about three. Well, that's a good game. And I

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Speaker 1: guess I'm following days lead because I'm looking at another

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Speaker 1: company's share prices up more than four five percent today,

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Speaker 1: and I'm talking about Sprint. Wide Investors like Sprint today

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Speaker 1: because they're reducing capital spending by this here, they're betting

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Speaker 1: they can conserve cash and still improve their wireless network

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Speaker 1: and add customers and an increasingly competitive mark it. So

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Speaker 1: this plan to cut spending is having a good impact

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Speaker 1: on Sprint. Today, shares of State Lauder, the cosmetics company

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Speaker 1: and Beauty's found nearly four percent today. This is the

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Speaker 1: biggest drop in almost four months. Annual profit forecast trailing

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Speaker 1: analysts estimates. They say it's being hurt by the strength

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Speaker 1: of the US dollar. Dollar games over the past two

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Speaker 1: years have hampered international sales. For Esta Lauder, they generated

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Speaker 1: about six of their revenue outside of the United States.

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Speaker 1: Once again, shares of Estate Lauder down about four percent today. Well,

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Speaker 1: we haven't mentioned the day's best performer in the SMP

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Speaker 1: five yet, so let's do that. We're talking about one

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Speaker 1: of them anyway, FMC. This is the chemical company h

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Speaker 1: They came out with first quarter results, revenue and earnings

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Speaker 1: beating analysts estimates, and FMC raised it's full year profit forecast.

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Speaker 1: So it's the beaten raise idea, same thing that you

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Speaker 1: had with Fiser. And for FMC, well, it was quite

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Speaker 1: the woman's today stock up eight and a half percent. Hi,

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Speaker 1: Thanks for Dave Wilson. Time now for the Volatility Index Report.

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Speaker 1: It is brought to you by the cbo E Vicks

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Speaker 1: options and future see disclosures. Learn more at cbo E

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Speaker 1: dot com Slash Powerful Outcomes VIX. The VIX higher today,

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Speaker 1: up more than seven percent again of one point oh two,

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Speaker 1: settling at fifteen point seven. Oh. Now, if you look

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Speaker 1: at the low volatility environment, it can be difficult, mainly

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Speaker 1: because it's fun to be complacent every once in a while,

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Speaker 1: but no excuse for an investment manager to take these

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Speaker 1: lulls as ordinary. We're going to see perhaps a pick

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Speaker 1: up in volatility as we witnessed today if the market

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Speaker 1: begins to sell off. All right, Dave, you're uh, 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 for the price down wills Dave. So, Dave Wilson,

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Speaker 1: your stock of the day is a one hundred fifty

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Speaker 1: year old paper company that uh got hit by something today.

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Speaker 1: Well they sure did, Kathleen. We're talking about pH Glatt Felter. Uh.

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Speaker 1: They're a paper producer. They've been around since the Civil

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Speaker 1: War era. They're named for founder Philip Henry glad Felter,

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Speaker 1: though it's commonly known as just glad Felter today. Company

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Speaker 1: has been publicly traded since nineteen fifty and is listed

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Speaker 1: under the ticker g LT. Glad Felter shares track the

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Speaker 1: bullmarket in US stocks for the first five years. They

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Speaker 1: reached the record thirty two hours in February. During the

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Speaker 1: next two years, they tumbled as much as fifty six

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Speaker 1: percent as commodity prices fell. Glad Felter reached the low

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Speaker 1: in January. The stocks attempt at a recovery was set

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Speaker 1: back today after first quarter results were released. Company earned

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Speaker 1: thirty seven cents to share on revenue of four hundred

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Speaker 1: and two point eight million dollars, and both those numbers

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Speaker 1: trailed analysts average estimates in the Bloomberg Survey. Chief executive

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Speaker 1: Dante Parin, he said in this day, but the weaker

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Speaker 1: demand for coffee filters, tea bags, and other food and

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Speaker 1: beverage papers hurt the company's results last quarter, and in response,

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Speaker 1: shares of Glack's Filter tumbled almost fift That's the biggest

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Speaker 1: one day drop for the stock since two thousand and eight.

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Speaker 1: Thank you very much. David Wilson, Bloomberg Stocks Commus. Dave,

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Speaker 1: just to mention, you know you talk about the history

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Speaker 1: of glack Filter. They led the industry at one point

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Speaker 1: with the installation of the world's largest paper machine. They

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Speaker 1: switched to making paper using wood fiber instead of rags

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Speaker 1: that was back in the absolutely and their recurren CEO

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Speaker 1: is only the second non family member to run the

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Speaker 1: company in it's a hundred and fifty year plus history.

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Speaker 1: Dave Wilson, Bloomberg Stocks Commas go Ahead signed up for

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Speaker 1: his daily email newsletter. It is free to send him

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Speaker 1: an email at d Wilson at Bloomberg dot net. This

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

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