1 00:00:00,160 --> 00:00:05,480 Speaker 1: Dot Com Global Business News twenty four hours a day. 2 00:00:05,519 --> 00:00:08,440 Speaker 1: If Bloomberg dot com the radio plus Mobile act and 3 00:00:08,600 --> 00:00:12,119 Speaker 1: on your radio. This is a Broomberg business flash from 4 00:00:12,160 --> 00:00:16,079 Speaker 1: Bloomberg World Headquarters. I'm Charlie Pellic Gaines today for the 5 00:00:16,160 --> 00:00:19,840 Speaker 1: DAL the SMPN that has that compositive index. No record 6 00:00:19,880 --> 00:00:23,320 Speaker 1: at the close, Folks from FedEx ringing that closing bell 7 00:00:23,920 --> 00:00:27,280 Speaker 1: stocks gained. The dollar fell after mixed economic data in 8 00:00:27,320 --> 00:00:31,120 Speaker 1: the world's largest economy bolstered speculation that the Fed will 9 00:00:31,120 --> 00:00:34,360 Speaker 1: be in no rush to raise interest rates. Oil rallied 10 00:00:34,400 --> 00:00:38,280 Speaker 1: West Texas Intermediate crewed up one point two percent, forty 11 00:00:38,520 --> 00:00:41,320 Speaker 1: seven ninety seven a barrel right now on t I 12 00:00:41,479 --> 00:00:46,240 Speaker 1: upt cents. Brent crewed up one point natural gas surging 13 00:00:46,280 --> 00:00:50,520 Speaker 1: by three percent. The SMP five hundred index advanced after 14 00:00:50,600 --> 00:00:53,800 Speaker 1: data showed a surge in American new home sales and 15 00:00:53,880 --> 00:00:58,440 Speaker 1: a slowdown in manufacturing. Best By Sword after the electronics 16 00:00:58,440 --> 00:01:02,360 Speaker 1: retailer reported earnings that beat analyst projections. Best Buy up 17 00:01:02,400 --> 00:01:05,840 Speaker 1: today by nineteen point six percent. Now, what about the 18 00:01:05,880 --> 00:01:08,679 Speaker 1: Federal Reserve and the U S stock market. Matt Mallie 19 00:01:08,800 --> 00:01:11,960 Speaker 1: is equity strategist at Miller tay Back. He was interviewed 20 00:01:12,040 --> 00:01:15,280 Speaker 1: moments ago right here on taking stock and everybody talks 21 00:01:15,319 --> 00:01:18,319 Speaker 1: about how and rightfully so that the Fed doesn't want 22 00:01:18,360 --> 00:01:22,200 Speaker 1: the stock market to uh get hit hard. I mean 23 00:01:22,240 --> 00:01:25,640 Speaker 1: it is it is important part of the of the 24 00:01:25,680 --> 00:01:28,360 Speaker 1: economy nowadays. If the stock markets at hard, it's going 25 00:01:28,440 --> 00:01:30,160 Speaker 1: to have an impact on the economy. And you've seen 26 00:01:30,200 --> 00:01:31,959 Speaker 1: it when it has been hit fairly hard, you know 27 00:01:32,000 --> 00:01:34,800 Speaker 1: in the over down over temper Center more there's a 28 00:01:34,880 --> 00:01:37,120 Speaker 1: day another central banks have stepped in and provided the 29 00:01:37,160 --> 00:01:39,399 Speaker 1: kind of liquidity that would be the market. And we 30 00:01:39,440 --> 00:01:42,200 Speaker 1: are brought to you by Sector Spider ETFs. Why buy 31 00:01:42,240 --> 00:01:45,360 Speaker 1: a single stock when you can invest in the entire sector? 32 00:01:45,840 --> 00:01:48,720 Speaker 1: Visits sector sp d r s dot com or call 33 00:01:48,840 --> 00:01:52,880 Speaker 1: one eight six six Sector et F. The tenure down 34 00:01:52,920 --> 00:01:56,280 Speaker 1: one thirty second, the yield one point five five gold 35 00:01:56,360 --> 00:02:01,280 Speaker 1: lower little change down sixty cents. The ouncet SMP five 36 00:02:01,360 --> 00:02:04,960 Speaker 1: hundred index up four to six, a gain of two 37 00:02:05,040 --> 00:02:08,480 Speaker 1: tenths of one percent. Down Industrial is up eighteen points 38 00:02:08,560 --> 00:02:11,320 Speaker 1: as we recap up one tenth of one percent, as 39 00:02:11,400 --> 00:02:14,360 Speaker 1: stack of fifteen a gain of three tenths of one percent. 40 00:02:15,680 --> 00:02:17,720 Speaker 1: It is four o two on Wall Street. Now let's 41 00:02:17,720 --> 00:02:21,360 Speaker 1: look at other stories making news. Charlie, thank you from 42 00:02:21,400 --> 00:02:24,760 Speaker 1: the Bloomberg News Room. I'm Mark Crumpton. President Obama says 43 00:02:24,800 --> 00:02:28,080 Speaker 1: the nation is heartbroken by the loss of life during 44 00:02:28,160 --> 00:02:31,200 Speaker 1: the recent flooding in Louisiana, but speaking in vent and 45 00:02:31,280 --> 00:02:34,560 Speaker 1: Rouge after touring the damage, the President said the region 46 00:02:34,680 --> 00:02:38,440 Speaker 1: knows how to survive. I saw it when I visited 47 00:02:38,560 --> 00:02:42,959 Speaker 1: displaced Louisiana's, Louisiana's when I came down here as a 48 00:02:43,040 --> 00:02:47,200 Speaker 1: senator after Katrina. I saw it when I visited New 49 00:02:47,320 --> 00:02:51,400 Speaker 1: Orleans for the tenth anniversary last year. I know how 50 00:02:51,520 --> 00:02:54,480 Speaker 1: resilient the people Louisiana are, and I know that you 51 00:02:54,560 --> 00:02:59,519 Speaker 1: will rebuild again. The flooding has left thirteen people dead. 52 00:03:00,080 --> 00:03:03,720 Speaker 1: Airline misques, such as the computer glitches that grounded hundreds 53 00:03:03,760 --> 00:03:06,800 Speaker 1: of thousands of passengers this summer, are now the biggest 54 00:03:06,880 --> 00:03:10,280 Speaker 1: cause of flight delays in the US. Late arrivals triggered 55 00:03:10,320 --> 00:03:13,000 Speaker 1: by mechanical breakdowns, a lack of flight crews, and other 56 00:03:13,080 --> 00:03:15,840 Speaker 1: factors attributed to the airlines with the largest category of 57 00:03:15,919 --> 00:03:18,440 Speaker 1: delay last year for just the second time and by 58 00:03:18,480 --> 00:03:21,520 Speaker 1: the widest margin since the government began collecting such data 59 00:03:21,600 --> 00:03:24,239 Speaker 1: in two thousand three. That according to the Federal Bureau 60 00:03:24,240 --> 00:03:28,119 Speaker 1: of Transportation Statistics, one passenger advocacy group blames the Drive 61 00:03:28,160 --> 00:03:31,320 Speaker 1: for Profits for eliminating any given the system, but Airlines 62 00:03:31,360 --> 00:03:33,880 Speaker 1: for America, the Washington Trade Group, representing most of the 63 00:03:33,960 --> 00:03:36,720 Speaker 1: large carriers, calendars that doesn't tell the whole story. It 64 00:03:36,920 --> 00:03:39,640 Speaker 1: argues reducing the number of flights as ease congestion at 65 00:03:39,640 --> 00:03:43,240 Speaker 1: the busiest airports. Bob Moon Bloomberg Radio. Police have released 66 00:03:43,280 --> 00:03:46,920 Speaker 1: surveillance images of a couple who created a mini diplomatic 67 00:03:47,040 --> 00:03:51,000 Speaker 1: incident after allegedly stealing electronics, clothes, and a case of 68 00:03:51,120 --> 00:03:54,600 Speaker 1: vodka from the Indonesian consulate on the Upper east Side. 69 00:03:55,000 --> 00:03:57,800 Speaker 1: Global Needs twenty four hours a day, powered by more 70 00:03:57,840 --> 00:04:00,720 Speaker 1: than twenty six hundred journalists and analysts in more than 71 00:04:00,800 --> 00:04:04,760 Speaker 1: one twenty countries. I'm More Crumpton, this is Bloomberg, Charlie, 72 00:04:05,760 --> 00:04:08,200 Speaker 1: and we thank you, and again recapping stocks and the 73 00:04:08,280 --> 00:04:12,120 Speaker 1: Tuesday session close to records, SMP advancing four points to 74 00:04:13,120 --> 00:04:16,960 Speaker 1: eight six again today of two tenths of one percent. 75 00:04:17,440 --> 00:04:20,400 Speaker 1: I'm Charlie Pellett, and that's a bloom Bread business. Flash 76 00:04:21,480 --> 00:04:28,720 Speaker 1: move around, motion, create promotion, a move they do. I've 77 00:04:28,760 --> 00:04:35,080 Speaker 1: never seen anyone move that back hard. People's move like 78 00:04:35,160 --> 00:04:42,480 Speaker 1: to got a purpose that he's called movers and shakers. 79 00:04:42,880 --> 00:04:45,279 Speaker 1: They cost a little more of that name, cracked me up. 80 00:04:51,200 --> 00:04:55,440 Speaker 1: Bloomberg taking stock movers and Shakers with pimp Box and 81 00:04:55,520 --> 00:04:59,680 Speaker 1: Kathleen As on Bloomberg Radio. All right, movers and Shakers 82 00:04:59,720 --> 00:05:02,719 Speaker 1: for Tuesday, August the twenty three. Taking a look at 83 00:05:02,760 --> 00:05:07,000 Speaker 1: the SNP five hundred, three hundred and twenty six issues 84 00:05:07,160 --> 00:05:10,680 Speaker 1: moving higher, one hundred and seventy five are lower, and 85 00:05:10,839 --> 00:05:14,960 Speaker 1: four are unchanged. Dave Wilson, Bloomberg Stocks Columnists, joins me 86 00:05:15,040 --> 00:05:18,000 Speaker 1: now to begin our movers and shakers. Dave, But you 87 00:05:18,080 --> 00:05:20,800 Speaker 1: know the old saying in advertising that with a name 88 00:05:20,920 --> 00:05:24,400 Speaker 1: like Smuckers, it has to be good. Well, that didn't 89 00:05:24,440 --> 00:05:27,320 Speaker 1: play out when it came to the latest earnings report 90 00:05:27,480 --> 00:05:30,560 Speaker 1: from JM. Smucker Christ we're talking about the maker of 91 00:05:30,600 --> 00:05:34,039 Speaker 1: peanut butter, jelly and a whole lot of other food items. Uh. 92 00:05:34,200 --> 00:05:37,119 Speaker 1: They came out with results for their fiscal first quarter. 93 00:05:37,760 --> 00:05:41,080 Speaker 1: Sales came up short of estimates, at least the analysts 94 00:05:41,120 --> 00:05:44,880 Speaker 1: we survey it here at Bloomberg, and though earnings beat projections, 95 00:05:45,000 --> 00:05:49,400 Speaker 1: Smucker left its full year profit forecast unchanged. We put 96 00:05:49,480 --> 00:05:51,800 Speaker 1: that all together and JM Smucker. The ticker on this 97 00:05:51,920 --> 00:05:55,279 Speaker 1: one s j M closed with a loss of eight 98 00:05:55,360 --> 00:05:58,880 Speaker 1: point one percent, the biggest in the SNP five hundred 99 00:05:59,320 --> 00:06:02,720 Speaker 1: and the are just for the stock in four and 100 00:06:02,839 --> 00:06:06,159 Speaker 1: a half years. I'm gonna tell you about the stock 101 00:06:06,400 --> 00:06:13,599 Speaker 1: of Clovis on Cology. Now. Clovis Oncology is based in Boulder, Colorado. 102 00:06:13,839 --> 00:06:18,360 Speaker 1: The shares are higher by twenty seven percent today. Yes, 103 00:06:18,480 --> 00:06:22,400 Speaker 1: this is all about biotechnology. The shares higher because the 104 00:06:22,520 --> 00:06:26,560 Speaker 1: US Food and Drug Administration granted a faster review process 105 00:06:26,960 --> 00:06:31,880 Speaker 1: for the company's experimental ovarian cancer drug, and the shares 106 00:06:31,960 --> 00:06:36,920 Speaker 1: of Clovis Oncology certainly responded. The stock higher today by 107 00:06:37,200 --> 00:06:41,640 Speaker 1: more than twenty seven percent. Well, here's a company might 108 00:06:41,720 --> 00:06:44,760 Speaker 1: not have heard of. Tableau Software. The ticker on this 109 00:06:44,920 --> 00:06:48,280 Speaker 1: one is Data. They do big data analysis. I'll tell 110 00:06:48,279 --> 00:06:50,880 Speaker 1: you you may have heard of Amazon dot Com. They 111 00:06:50,960 --> 00:06:54,839 Speaker 1: have a pretty big web services business. That's a substantial 112 00:06:55,000 --> 00:06:57,640 Speaker 1: chunk of the company at this point, it's not just 113 00:06:57,720 --> 00:07:02,320 Speaker 1: about online retailing and marketing official and Amazon Web Services 114 00:07:02,360 --> 00:07:05,680 Speaker 1: whose named Adam Selipski uh is going to become the 115 00:07:05,839 --> 00:07:10,800 Speaker 1: chief executive at Tableau Software. And that news, well, was 116 00:07:10,880 --> 00:07:14,960 Speaker 1: well received because Tableau shares at a game of almost 117 00:07:14,960 --> 00:07:18,200 Speaker 1: thirteen and a half percent in today's trading. Now, I 118 00:07:18,280 --> 00:07:23,200 Speaker 1: know that you spoke earlier in the week about Daktronics 119 00:07:23,840 --> 00:07:28,440 Speaker 1: first quarter earnings per share coming in and beating estimates. 120 00:07:28,880 --> 00:07:33,040 Speaker 1: Sales also higher than estimates. Orders mainly because of commercial 121 00:07:33,160 --> 00:07:38,480 Speaker 1: and international as well as high school park units all increasing. 122 00:07:39,160 --> 00:07:44,320 Speaker 1: Now Daktronics shares today get this up more than nineteen 123 00:07:44,720 --> 00:07:51,080 Speaker 1: per cent today. Electronics a winner. Dave Wilson. How about Square? 124 00:07:51,640 --> 00:07:54,560 Speaker 1: That would be Jack Dorsey's online payment company, one of 125 00:07:54,600 --> 00:07:56,520 Speaker 1: the companies he runs. Of course, he's also the chief 126 00:07:56,560 --> 00:08:01,440 Speaker 1: executive of Twitter. Square raised two buy from Hold. It's 127 00:08:01,520 --> 00:08:04,680 Speaker 1: deiful and that's the first rating change from that firm, Uh, 128 00:08:04,800 --> 00:08:07,680 Speaker 1: since they began covering the company in December, you know, 129 00:08:07,840 --> 00:08:12,120 Speaker 1: right after squares initial public offering. Uh. They're more confident 130 00:08:12,200 --> 00:08:16,520 Speaker 1: about the outlook for squares growth and profitability, their competitive position, 131 00:08:17,040 --> 00:08:21,440 Speaker 1: expansion into related products and services. Square shares in the 132 00:08:21,520 --> 00:08:25,800 Speaker 1: way of that call rising four and just to uh 133 00:08:26,040 --> 00:08:28,960 Speaker 1: fill you in, I beg your pardon. Daktronics I know 134 00:08:29,080 --> 00:08:31,360 Speaker 1: about it, but many people won't it. This is the 135 00:08:31,440 --> 00:08:37,199 Speaker 1: supplier of those electronic scoreboards and programmable displays. Um, I 136 00:08:37,320 --> 00:08:40,439 Speaker 1: tell you about the shares of Apple advancing today, about 137 00:08:40,559 --> 00:08:43,400 Speaker 1: the three tents of a percent. Uh. There is a 138 00:08:43,679 --> 00:08:47,240 Speaker 1: report in the New York Post saying that Apple was 139 00:08:47,320 --> 00:08:51,040 Speaker 1: recently in talks for a stake in Lift as part 140 00:08:51,080 --> 00:08:54,800 Speaker 1: of a strategic partnership. No details about the size of 141 00:08:54,840 --> 00:08:58,000 Speaker 1: the potential investment could be learned, and it is unclear 142 00:08:58,080 --> 00:09:01,760 Speaker 1: if the talks are still on. Owing, but the shares 143 00:09:02,040 --> 00:09:05,199 Speaker 1: of Apple, and we're all of course looking for the 144 00:09:05,280 --> 00:09:09,439 Speaker 1: introduction of the new iPhone seven sometime in September. Shares 145 00:09:09,480 --> 00:09:12,680 Speaker 1: of Apple up three tenths of a percent. Today, Apple 146 00:09:13,280 --> 00:09:17,120 Speaker 1: closing at eight dollars and eighty five cents. I'll just 147 00:09:17,200 --> 00:09:20,640 Speaker 1: mentioned my Land really briefly send a Judiciary Committee Chairman 148 00:09:20,800 --> 00:09:23,840 Speaker 1: Charles Grassley sent a letter to the drug maker asking 149 00:09:23,920 --> 00:09:27,360 Speaker 1: for an explanation of the substantial price increase for the 150 00:09:27,440 --> 00:09:31,360 Speaker 1: algae shot EpiPen. How it's substantial, I mean data that 151 00:09:31,520 --> 00:09:34,360 Speaker 1: we reviewed here at Bloomberg showed the cost of EpiPen 152 00:09:34,840 --> 00:09:37,600 Speaker 1: rose more than fivefold after my Land acquired the drug 153 00:09:37,720 --> 00:09:40,600 Speaker 1: in two thousand seven. So my Land getting some regulatory 154 00:09:40,640 --> 00:09:44,400 Speaker 1: scrutiny and shares are down four point eight percent today. 155 00:09:44,840 --> 00:09:47,280 Speaker 1: All right, it's time now for the Volatility Index Report. 156 00:09:47,320 --> 00:09:49,400 Speaker 1: It is brought to you by cbo E VIX, Options 157 00:09:49,440 --> 00:09:52,480 Speaker 1: and Futures. Volatility can be harnessed with cbo E VIS 158 00:09:52,520 --> 00:09:56,400 Speaker 1: options and Futures c disclosures. Learn more at a CBOE 159 00:09:56,679 --> 00:10:01,760 Speaker 1: dot com slash Powerful Outcomes VIX. The VIX moving higher today, 160 00:10:01,920 --> 00:10:04,920 Speaker 1: but well, just up about nine tenths of a percent, 161 00:10:05,280 --> 00:10:09,000 Speaker 1: a gain of zero point one one, settling at twelve 162 00:10:09,080 --> 00:10:11,400 Speaker 1: point three eight and the just a lettion of the 163 00:10:11,480 --> 00:10:14,520 Speaker 1: complacency in the stock market is measured by the VIX 164 00:10:14,640 --> 00:10:18,800 Speaker 1: is at historically low levels. Speculators betting on the VIX 165 00:10:18,920 --> 00:10:22,920 Speaker 1: decline he outnumber those betting on an increase in volatility 166 00:10:22,960 --> 00:10:27,800 Speaker 1: by the biggest margin in at least twelve years. All Right, Dave, 167 00:10:27,880 --> 00:10:33,760 Speaker 1: you're up, Hi, My name is Dave. Just what do 168 00:10:33,840 --> 00:10:42,000 Speaker 1: you think you're doing things? We're going for the prankown, Dave, Dave? Hey, 169 00:10:42,160 --> 00:10:45,800 Speaker 1: Mr Wilson, why don't just slip into a shoe carnival? 170 00:10:46,080 --> 00:10:48,320 Speaker 1: Why don't I? And I got to talk about Wayne Weaver. 171 00:10:48,679 --> 00:10:50,760 Speaker 1: He may be best known as the original owner of 172 00:10:50,840 --> 00:10:55,240 Speaker 1: the Nashville Football Leagues. Jacksonville Jaguars. We remade his money 173 00:10:55,280 --> 00:10:57,760 Speaker 1: though in the shoe business. He bought the retail chain 174 00:10:57,880 --> 00:11:00,880 Speaker 1: Shoe Carnival from nine West back at ninety eight and 175 00:11:00,960 --> 00:11:04,040 Speaker 1: took the company public five years later. Day are compiled 176 00:11:04,040 --> 00:11:07,520 Speaker 1: by Bloomberg show he's still low artist shareholder, with a 177 00:11:07,640 --> 00:11:10,559 Speaker 1: twenty five and a half percent stay Shoot Carnival ticker 178 00:11:10,760 --> 00:11:13,040 Speaker 1: s CVL. She hasn't been up and down the last 179 00:11:13,080 --> 00:11:15,960 Speaker 1: couple of years. They peaked in January fourteen at twenty 180 00:11:16,040 --> 00:11:18,800 Speaker 1: nine dollars and seventy five cents and in Ding twenty 181 00:11:18,880 --> 00:11:22,760 Speaker 1: fifteen at thirty dollars. Today they approached the earlier highs 182 00:11:22,960 --> 00:11:26,200 Speaker 1: with some help from SMP down Jones Indices, The index 183 00:11:26,240 --> 00:11:29,640 Speaker 1: provider said late yesterday the Shoot Carnival will be added 184 00:11:29,679 --> 00:11:32,920 Speaker 1: to SMP small Cap six hundred index at week's end 185 00:11:33,200 --> 00:11:35,960 Speaker 1: company to replace a takeover target Stage and Form Sudicals. 186 00:11:36,360 --> 00:11:39,599 Speaker 1: The change means small cap six hundred index funds have 187 00:11:39,800 --> 00:11:43,280 Speaker 1: to own Shoot Carnival shares. The stocks move today indicates 188 00:11:43,320 --> 00:11:46,400 Speaker 1: the buying is already underway. Shoot Carnival rose about eight 189 00:11:46,480 --> 00:11:48,880 Speaker 1: percent its biggest game of the year in the stock 190 00:11:48,960 --> 00:11:52,600 Speaker 1: peaked at twenty nine dollars and eighty five cents. Thank 191 00:11:52,640 --> 00:11:56,440 Speaker 1: you very much, Shoot Carnival both. Dave Wilson, Bloomberg Stocks columnist. 192 00:11:56,880 --> 00:11:59,280 Speaker 1: Sign up for his daily free email newsletter. Just send 193 00:11:59,320 --> 00:12:02,040 Speaker 1: him an email at d Wilson at Bloomberg dot net. 194 00:12:02,320 --> 00:12:07,640 Speaker 1: This is Bloomberg. Bloomber Taking stock is brought to by 195 00:12:07,720 --> 00:12:10,800 Speaker 1: cash pro, the cash management platform from Bank of America 196 00:12:10,880 --> 00:12:13,199 Speaker 1: Merrill Lynch. Cash Pro lets you stay on top of 197 00:12:13,280 --> 00:12:16,480 Speaker 1: your working capital in real time. It's totally pro business. 198 00:12:16,720 --> 00:12:18,400 Speaker 1: That's the power of global connections.