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Speaker 1: Bloomber Business News twenty four hours a day at Bloomberg

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Speaker 1: dot Com, the radio, plus mobile and on your radio.

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Speaker 1: This is a Bloomberg Business Way shoon Bloomberg World back quarters.

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Speaker 1: I'm Charlie Public folks from Diagio and Shawn Cones, ringing

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Speaker 1: that closing battle to New York Stock Exchange on this

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Speaker 1: Tuesday August. I'll move Laura for the noal. The SMP

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Speaker 1: and NASTAC stocks closing well off their session loads, thin

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Speaker 1: trading volume, Apple slumping ahead of Friday's jobs report, the

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Speaker 1: dollar rose, oil fell. Jim Bianco was the president and

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Speaker 1: founder of Bianco Research, and minutes ago right here on

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Speaker 1: taking Stock, he had this to say about the Federal

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Speaker 1: Reserve and its data dependency report is Friday. Is that

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Speaker 1: it all comes down to Friday's number one number that

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Speaker 1: gets revised many times over the next several months. Is

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Speaker 1: that what's going to drive the Fed into deciding whether

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Speaker 1: to raise rates or not raise raids. And that's not

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Speaker 1: a very good way to do Paither the ten uere

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Speaker 1: down to thirty seconds, yield one point five seven percent,

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Speaker 1: SMP five hundred index down four to seventy six, and

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Speaker 1: drop of two tents of one percent, the Dow down

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Speaker 1: forty nine, a drop of three tents of one percent,

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Speaker 1: and has stacked down two tenths of one percent. The

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Speaker 1: Conference Board says consumer confidence increased to an almost one

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Speaker 1: year high in August as Americans became more optimistic about

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Speaker 1: the labor market. Conference confidence increased to one oh one

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Speaker 1: point one, the highest in September. From that, he's six

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Speaker 1: point seven. Lynn Franco is Director of Economic Indicators at

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Speaker 1: the Conference Board. She was also our guest right here

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Speaker 1: today on taking stock. Well, we've seen sort of a

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Speaker 1: combination of factors. We had a nice increase in the

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Speaker 1: present situation component, and that's now at back to pre

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Speaker 1: recession levels, so it's been sort of a long climb.

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Speaker 1: Expectations also gained some grounds, so I think overall consumers

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Speaker 1: are feeling a lot more positive about business conditions and

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Speaker 1: climate conditions. Uh, and the outlook ahead is a little

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Speaker 1: bit improved as well. And today we had gold down

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Speaker 1: thirteen dollars, the ounce declining one often again. Apple shares

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Speaker 1: law today by eight tenths of one four oh two

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Speaker 1: on Wall Street. Now, let's look at other news from

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Speaker 1: around the world. A Bloomberg Radio Charlie. Thank you from

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Speaker 1: the Bloomberg news room. I'm Mark Crumpton. At the Eye,

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Speaker 1: Director James Comy is again warning about the bureau's inability

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Speaker 1: to access digital devices because of encryption. He made his

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Speaker 1: comments today at a symposium in Washington. As we make

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Speaker 1: it harder and harder for them to get physically into

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Speaker 1: this country to kill people, to do damage, surely they

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Speaker 1: are going to turn to try to come in as

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Speaker 1: a photon and doing damage through the Internet. Come also

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Speaker 1: addressed concerns that Russian intelligence officials may be targeting the

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Speaker 1: presidential election. Anonymous threats have forced the U. S. Department

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Speaker 1: of Agriculture to close some offices. USDA spokesman Matt Herrick

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Speaker 1: says they're working with the FBI, federal and local law

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Speaker 1: enforcement to determine if the threats are credible, but for now,

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Speaker 1: he says, workers at six locations in five states will

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Speaker 1: not report to those offices until further notice. The closures

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Speaker 1: come after several anonymous messages raised concerns about the safety

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Speaker 1: of U. S. D A personnel and facilities. Those offices

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Speaker 1: are in Colorado, Connecticut, North Carolina, Maryland, and two in

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Speaker 1: West Virginia. Amy Moore as Bloomberg Radio, the New York

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Speaker 1: Health Department is making substantial changes to its medical marijuana program,

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Speaker 1: which has been criticized as being too restrictive. Those changes

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Speaker 1: include expanding access to the drug, including allowing home delivery

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Speaker 1: and enabling nurse practitioners to certify patients as medically qualified

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Speaker 1: to use pot. Governor Andrew Cuomo's administration is expected to

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Speaker 1: announce those changes today. 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: over one countries. I'm More Crumpton, this is Bloomberg, Charlie,

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Speaker 1: and we thank you, and again recapping a move law

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Speaker 1: for equities, the DAL, the SMP, nestak All declining, SMP

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Speaker 1: down four to seventy six, a drop today of two

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Speaker 1: tenths of one percent down, Industrials down forty eight, a

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Speaker 1: decline of three 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. The elite move move like they do. I've

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Speaker 1: never seen anyone move that back five people. Let's move

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Speaker 1: like to get a purpose that he was called movers

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Speaker 1: and shakers that costs a little moment. That name cracked

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Speaker 1: me up. Bloomberg taking stock movers and shakers with Pim

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Speaker 1: Fox and Kathleen as on bloom Radio Movers and Shakers.

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Speaker 1: You know, if you look at the major market averages

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Speaker 1: and those fractionally lower clothes which Charlie just read us

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Speaker 1: the numbers on, it might mask the fact that there

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Speaker 1: was actually some more of a definitive move lower. I

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Speaker 1: think in stocks, if you look inside the SNP five

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Speaker 1: hundred one eighty seven gainers but three hundred fourteen losers

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Speaker 1: of four stocks closing unchanged. Joining me, now, our stocks are,

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Speaker 1: Dave Wilson, what are you kicking off with when it

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Speaker 1: comes to moving and shaking? Well, since it was a

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Speaker 1: down day, we might as well start with the stock

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Speaker 1: that fell the most in the SMP five hundred, and

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Speaker 1: that would be hers. She And it was around this

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Speaker 1: time yesterday we found out Models International abandoned its effort

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Speaker 1: to buy the chocolate maker now her. She had rejected

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Speaker 1: mondelies As in her initial offer about two months ago.

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Speaker 1: Person familiar with the matter said Modeliese had proposed raising

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Speaker 1: the offer by eleven dollars a share two hundred and

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Speaker 1: eighteen dollars. Trouble is her she wanted at least a

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Speaker 1: hundred and twenty five dollars, and we've seen this happen

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Speaker 1: before over the past. That get in then half where

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Speaker 1: the trust that controls her she on behalf of the

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Speaker 1: Milton Hershey schools set up by the company's founder. Just

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Speaker 1: doesn't go along with the potential suitor and the latest

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Speaker 1: set back hers she shares down almost eleven on the day,

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Speaker 1: and I'll point out models up about four. Well, uh,

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Speaker 1: you know what, I'm just gonna rubbing my eyeballs to

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Speaker 1: make sure I'm reading it correctly. When to look at

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Speaker 1: Apricrombie and Fitch, the big teen retailer that is struggled

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Speaker 1: with all kinds of things like dwindling mall traffic and

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Speaker 1: a tourism slowdown that is hurt retailers that rely rely

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Speaker 1: on the kind of large flag flagship locations in major

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Speaker 1: cities that drives sales. Abercrombie and Fitch again, do tell

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Speaker 1: me the most in three years. The loss of the

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Speaker 1: second quarter was twenty five cents a share excluding some items,

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Speaker 1: after analysts had projected a loss of twenty cents on average.

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Speaker 1: The company also plans to close more stores, extending a

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Speaker 1: push that is shrunk to change US store based by

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Speaker 1: a third in the past six years. Stage. So maybe

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Speaker 1: down the road that will help Abercrombie and Fitch, but

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Speaker 1: not so much today. How about Potash Corporate Saskatchewan. Now

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Speaker 1: that's not a name of here every day. It is, though,

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Speaker 1: one of the biggest companies in the fertilizer business. And

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Speaker 1: this is an industry that's been hurt by lower crop prices.

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Speaker 1: Because farmers don't have as much money to spend, they

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Speaker 1: don't need to buy as much fertilizer. Well, Potash Corp.

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Speaker 1: Said today it's and talks with another Canadian fertilizer maker, Agrium,

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Speaker 1: about what it called a potential merger of equals. People

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Speaker 1: familiar with the matter set a deal maybe reached as

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Speaker 1: soon as next week. Uh Potash Corps up twelve percent

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Speaker 1: in US trade and Agrium of seven percent. A couple

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Speaker 1: of US fertilizer makers hire as well, CF Industries Holdings

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Speaker 1: up four percent and Mosaic with a gain of almost

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Speaker 1: nine percent. Well, you know, sounds me like you can

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Speaker 1: can entice away in the CEO of one of your competitors.

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Speaker 1: Investors can like it at least for a day or so.

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Speaker 1: I'm referring to UH, United Airlines. It's hiring Scott Kirby.

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Speaker 1: He's going to be their new president. He's hiring Kirby

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Speaker 1: away from American Airlines, and they're they're just all trying

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Speaker 1: to increase the roster of executives who will have to

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Speaker 1: contend with fair declines that are pushing industry to its

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Speaker 1: worst returns in five years. Mr Kirby will join United

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Speaker 1: Continental Holdings immediately. And this sudden move is filling a

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Speaker 1: keyboid at United. It provides a potential successor who has

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Speaker 1: deep airline roots to uh do the company. Uh. The

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Speaker 1: stock price for United Airlines is up eight good day

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Speaker 1: for the airline stocks overall to American up about two

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Speaker 1: and a half percent, Dealta up one point seven percent,

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Speaker 1: in Southwest up two percent. Since you mentioned Abercromby, we

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Speaker 1: might as well go down another apparel road and look

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Speaker 1: at G three. Now. They have a number of brands,

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Speaker 1: uh Bass Shoes, for example, and unfortunately the news was

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Speaker 1: about as bad for them as it was for Abercrombie

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Speaker 1: when it came to earnings. G three with an unexpected

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Speaker 1: loss for the fiscal second quarter revenue trailing. Analyst Savage

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Speaker 1: esmates in Bloomberg survey G three's forecast for the third

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Speaker 1: quarter in the year coming up shorter projections. You put

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Speaker 1: that all together and the stock fell twenty point seven percent,

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Speaker 1: just a bit more than just a quick comment on GAP.

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Speaker 1: I feel kind of bad for them day because they

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Speaker 1: had this big fire that destroyed their nine d square

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Speaker 1: foot distribution facility in fish Kill. Was ravaged by flames

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Speaker 1: Monday night. Employees escape safely, so that's the most important thing.

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Speaker 1: But they announced they were investing nearly a hundred million

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Speaker 1: dollars in this facility and adding jobs, so investor is

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Speaker 1: concerned about being able to ship things out online. The

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Speaker 1: price of the GAP stock down four point three percent today.

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Speaker 1: Let's take a quick look now at our Volatility Index

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Speaker 1: report brought to bias cboe VIS Options and Futures. Volatility

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Speaker 1: can be harnessed with CBOVIS options in future associate disclosures

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Speaker 1: and learn more at cbo dot com. Slash Powerful Outcomes VIX.

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Speaker 1: Actually the VIC speaking out a small game that's at

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Speaker 1: thirteen point oh four, up about a tenth of a percent,

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Speaker 1: but still if you take a look at its long

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Speaker 1: term average. It's well off the long term average of

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Speaker 1: twenty and that makes people fret because quiet times like

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Speaker 1: this can be accompanied by extremes. Alright, 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 for the price Dave drumlow roll please as

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Speaker 1: we're getting ready for his stock of the day from

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Speaker 1: Dave Wilson Tech Data. Right. You know, some stocks Kathleen

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Speaker 1: vance to arise even though they have little support from analysts,

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Speaker 1: and indeed the technology product distributor tech Data is one example.

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Speaker 1: Now tech Data, they've been public for thirty years. Company

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Speaker 1: shares trained on the ticker t e c D. They

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Speaker 1: rose in each of the past three years and gained

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Speaker 1: as much as percent this year. Yet data combined by

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Speaker 1: Bloomberg shows animal was Cell. Ratings on tech Data out

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Speaker 1: numbered buys three to two. As of yesterday, five other

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Speaker 1: analysts had some version of the hole rating. The balance

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Speaker 1: shifted in tech Data's favor today. Bank of America Merrill

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Speaker 1: Lynch raised its rating to neutral from the equivalent of Cell.

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Speaker 1: The firm sided week recent weakness and the shares, which

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Speaker 1: dropped as much as eighteen percent after sending a record

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Speaker 1: in June. Now tech data climbed as much as seven percent.

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Speaker 1: Today in the wake of Merrill's call, Stock closed with

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Speaker 1: a game of four point three percent. That was the

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Speaker 1: biggest advance pro tech data in the past three months. Alright,

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Speaker 1: check data. Dave Wilson, Stocks Editor his chart of the day.

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Speaker 1: If you want to follow him Twitter, just check out

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Speaker 1: at the one Dave Hey. You can follow me at

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Speaker 1: Katheene Underscore Hayes Catheine with the k H A y s.

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Speaker 1: But the most important thing of all taking stock. On

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Speaker 1: Bloomberg Radio, We're gonna be looking at Core next. The

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Speaker 1: price of the cbot reached its lowest since two thousand nine. Boy,

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Speaker 1: what does that mean for farmers? We're gonna find out.

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Speaker 1: I'm Kathleen Hayes and this is Bloomberg. A look at corn,

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Speaker 1: a look at soybeans, a look at the agricultural commodities industry.

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Speaker 1: To find out where commodity prices are now and what

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Speaker 1: investors are thinking about where they go next. That's coming

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Speaker 1: up on Bloomberg Radio.