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Speaker 1: News when you want it With Bloomberg News Now, I'm

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Speaker 1: ad Klegi Temperature Controlled Storage and Logistics Giant. Lineage shares

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Speaker 1: rose three point six percent in its debut as a

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Speaker 1: public company. We get the story from Bloomberg's Charlie Pellett.

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Speaker 2: It raised about four point four billion dollars in the

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Speaker 2: year's largest initial public offering. The trading gives the Nova,

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Speaker 2: Michigan based firm, which was founded by a pair of

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Speaker 2: former Morgan Stanley investment bankers, a market value of nearly

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Speaker 2: twenty billion dollars based on the outstanding shares listed in

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Speaker 2: its filings with the SEC. Lineage's IPO, which price toward

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Speaker 2: the top of its marketed range, was the largest since

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Speaker 2: Armholding's five point two billion dollar debut in September, marking

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Speaker 2: a comeback for the beliaguer USIPO market in New York.

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Speaker 2: Charlie Pellett Bloomberg Radio.

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Speaker 1: The Wall Street Journal was reporting that the FBI Friday

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Speaker 1: said that former President Donald Trump was struck with a

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Speaker 1: bullet during an assassination attempt at a western Pennsylvania campaign rally,

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Speaker 1: Following nearly two weeks of speculation about what caused a

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Speaker 1: bloody injury to his right ear. Quote. What struck for

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Speaker 1: President Trump in the ear was a bullet, whether whole

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Speaker 1: or fragmented into smaller pieces, fired from the deceased subject's

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Speaker 1: rifle unquote. The Bureau said this in a statement seeking

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Speaker 1: to dispel conflicting accounts of the July thirteenth shooting. FBI

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Speaker 1: Director Christopher Ray told lawmakers earlier in the week that

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Speaker 1: officials were still analyzing evidence to determine what hit Trump

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Speaker 1: a bullet, shrapnel, glass, or something else. US authorities accused

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Speaker 1: famed short seller Andrew Left of committing fraud through stock trades,

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Speaker 1: social media posts, and research reports. It's the biggest move

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Speaker 1: yet in a year's long crackdown against traders who tout

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Speaker 1: their bearish bets. We get more from Bloomberg's Bailey Lipscholtz.

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Speaker 3: So the SEC and the Justice Department also, they're both

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Speaker 3: alleging that Andrew Left a number of things, but most notably,

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Speaker 3: he came out with calls both to the long and

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Speaker 3: short side, initiated price targets, and loaded up on positions

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Speaker 3: before unveiling that research. The stock would move, and then

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Speaker 3: he'd quickly close the positions to profit very rapidly, so

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Speaker 3: he'd make bets not only on the underlying stock, but

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Speaker 3: also use options, basically saying at least when you look

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Speaker 3: through the Justice Department press release, saying that he wanted

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Speaker 3: to make fast, easy money using those mechanisms.

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Speaker 1: Bloomberg's Bailey Lipschultz. The cases against Left stem from a

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Speaker 1: wide ranging US effort to examine relationships between hedge funds

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Speaker 1: and skeptical researchers. The probes have been rattling the industry

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Speaker 1: for three years, as investigators have sought information on dozens

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Speaker 1: of money managers and activists, as well as transactions involving

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Speaker 1: more than fifty stocks. Three M, the industrial giant behind

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Speaker 1: post it notes, raised its full year profit forecast in

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Speaker 1: a sign of progress under new CEO Bill Brown. Bloomberg's

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Speaker 1: Critty Gupta has more been struggling.

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Speaker 4: Three M is a fairly big company. They've had a

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Speaker 4: couple of spinouts, and they've also had a little bit

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Speaker 4: of turnover when it comes to their c suite as well.

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Speaker 4: So the fact that even with someone new at the home,

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Speaker 4: right off the bat, they're kind of raising their profit

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Speaker 4: for gas is a pretty big stamp of approval.

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Speaker 1: And by the market's closed Friday, the shares had gained

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Speaker 1: twenty three percent, the biggest one day advance on record

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Speaker 1: in Bloomberg data stretching back to nineteen eighty. The stock

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Speaker 1: market got a boost at the end of a wild

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Speaker 1: week after key economic data bolstered speculation the Federal Reserve

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Speaker 1: will set up the stage for an interstrate cut in September.

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Speaker 1: Every major group in the S and P five hundred

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Speaker 1: rows Friday on bets that a FED easing cycle will

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Speaker 1: keep fueling corporate America with a bull market broadening beyond

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Speaker 1: a narrow group of companies. While big tech has enjoyed

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Speaker 1: massive gains this year, the so called concentration risk has

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Speaker 1: come to the forefront after a disappointing start of the

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Speaker 1: megacap earnings season. The Friday numbers on Wall Street, the

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Speaker 1: Dow was up six hundred and fifty five war points,

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Speaker 1: NASDAC had gained one seventy six, and the S and

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Speaker 1: P was up sixty. Go outside of Manhattan or Boston

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Speaker 1: and you'll see the bright blue bikes around every corner

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Speaker 1: in Toronto. They are in unmistakable orange. Bike share programs

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Speaker 1: in the US and Canada have never been more popular.

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Speaker 1: According to a new report, Americans and Canadians took one

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Speaker 1: hundred and fifty seven million rides on shared bikes and

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Speaker 1: east scooters in twenty twenty three, surpassing previous records set

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Speaker 1: before the pandemic. This according to a report on shared

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Speaker 1: micromobility from the National Association of City Transportation Officials. But

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Speaker 1: user costs are rising into unaffordable territory in many cities

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Speaker 1: amid a shortage of public funding for the programs. And

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Speaker 1: that's news when you want it with Bloomberg News. Now,

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Speaker 1: I made Kleggi and this is Bloomberg