1 00:00:02,279 --> 00:00:05,640 Speaker 1: Global business news twenty four hours a day. If Bloomberg 2 00:00:05,720 --> 00:00:09,720 Speaker 1: dot com the radio Plush mobile stand on your radar's 3 00:00:09,720 --> 00:00:14,000 Speaker 1: a Boomberg business druckt from Bloomberg World Headquarters. Sim Charlie 4 00:00:14,040 --> 00:00:16,040 Speaker 1: Pellet there at his sound of the closing bell at 5 00:00:16,040 --> 00:00:18,560 Speaker 1: the New York Stock Exchange as we wrap up trading 6 00:00:18,560 --> 00:00:22,400 Speaker 1: on this Thursday, June sixteen, folks from Stanley Black and 7 00:00:22,480 --> 00:00:24,840 Speaker 1: Deck or ringing that closing bell were brought to you 8 00:00:24,880 --> 00:00:27,560 Speaker 1: by Sector Spider et F S. Why by a single 9 00:00:27,640 --> 00:00:30,480 Speaker 1: stock when you can invest in the entire sector of 10 00:00:30,560 --> 00:00:33,400 Speaker 1: visits Sector sp d r S dot com or call 11 00:00:33,520 --> 00:00:37,760 Speaker 1: on six Sector e t F A big recovery for 12 00:00:37,840 --> 00:00:42,040 Speaker 1: stocks after a five day retreat. The SMP five index 13 00:00:42,120 --> 00:00:45,080 Speaker 1: up today by six points to two thousand, seventy eight, 14 00:00:45,120 --> 00:00:48,400 Speaker 1: reversing earlier losses, picking up three tents of one percent, 15 00:00:48,479 --> 00:00:52,080 Speaker 1: the SMP wiping out all of a one percent drop down. 16 00:00:52,159 --> 00:00:54,600 Speaker 1: Industrials up ninety four, a gain of five tenths of 17 00:00:54,680 --> 00:00:57,640 Speaker 1: one percent, as stack up nine, a gain of two 18 00:00:57,640 --> 00:01:01,640 Speaker 1: tenths of one percent. Investors still debating yesterday's FED decision 19 00:01:01,680 --> 00:01:05,160 Speaker 1: and press conference. Jonathan Golub is Chief US market strategist 20 00:01:05,200 --> 00:01:08,320 Speaker 1: at RBC Capital Markets. He was our guest minutes ago 21 00:01:08,440 --> 00:01:12,320 Speaker 1: right here on taking stocks is as economic nirvana. There's 22 00:01:12,319 --> 00:01:14,720 Speaker 1: no such thing is exactly perfect. But if you're running 23 00:01:14,760 --> 00:01:17,760 Speaker 1: inflation of even just with the Fed's measure just under 24 00:01:17,760 --> 00:01:22,120 Speaker 1: two and unemployment under five, you just you should have 25 00:01:22,200 --> 00:01:25,160 Speaker 1: higher rates. And so as we move through the year, 26 00:01:25,720 --> 00:01:28,959 Speaker 1: if we get through these concerns about Brexit and other things, 27 00:01:29,120 --> 00:01:32,959 Speaker 1: and volatility drift down a little bit lower, um, I 28 00:01:33,000 --> 00:01:35,319 Speaker 1: think the Fed is going to really be forced to 29 00:01:35,319 --> 00:01:39,000 Speaker 1: take to continue to gradually raise rates. And then there 30 00:01:39,080 --> 00:01:42,520 Speaker 1: is the Brexit vote one week from today. Jacob Kaca Guard, 31 00:01:42,640 --> 00:01:45,960 Speaker 1: Senior Fellow at the Peterson Institute for International Economics, also 32 00:01:46,000 --> 00:01:48,960 Speaker 1: interviewed right here on taking Stock. The reality is that 33 00:01:49,440 --> 00:01:54,200 Speaker 1: this campaign will have, especially after today's tragic events, will 34 00:01:54,280 --> 00:01:58,560 Speaker 1: have made or made the country split even more over 35 00:01:58,640 --> 00:02:02,000 Speaker 1: the issue of immigration, and that includes both the Conservative 36 00:02:02,080 --> 00:02:05,080 Speaker 1: and the Labor Party. So fundamentality, in the long run, 37 00:02:05,120 --> 00:02:07,840 Speaker 1: the UK will have become a more difficult place to 38 00:02:07,960 --> 00:02:11,560 Speaker 1: govern after this campaign. Gold a Lord today by two 39 00:02:11,639 --> 00:02:14,919 Speaker 1: sixty down two tenths of one per cent, four oh 40 00:02:14,919 --> 00:02:17,040 Speaker 1: two on Wall Street. Now let's look at other news 41 00:02:17,120 --> 00:02:20,720 Speaker 1: from around the world on Bloomberg Radio. Thank you Charlie 42 00:02:20,720 --> 00:02:23,400 Speaker 1: from Bloomberg News Room. I'm David Gura. UK police say 43 00:02:23,400 --> 00:02:25,960 Speaker 1: a British lawmaker has died after being shot during a 44 00:02:25,960 --> 00:02:29,280 Speaker 1: meeting with constituents. Joe Cox, a Labor Party member of Parliament, 45 00:02:29,320 --> 00:02:31,440 Speaker 1: was forty one years old and was elected last year. 46 00:02:31,800 --> 00:02:34,760 Speaker 1: Police arrested a suspect. Campaigning has been suspended for the 47 00:02:34,840 --> 00:02:37,040 Speaker 1: day in the referendum on whether the UK should leave 48 00:02:37,080 --> 00:02:39,919 Speaker 1: the European Union. How Speaker Paul Ryan has responded to 49 00:02:39,960 --> 00:02:41,919 Speaker 1: calls for gun control reform in the wake of the 50 00:02:41,919 --> 00:02:44,960 Speaker 1: mass shooting in Orlando, Ryan saying going after the Second 51 00:02:44,960 --> 00:02:47,800 Speaker 1: Amendment is not the way to stop terrorism. Instead, he says, 52 00:02:47,800 --> 00:02:50,160 Speaker 1: we must focus on foreign policy. Not only do we 53 00:02:50,160 --> 00:02:53,080 Speaker 1: need a better policy with respect Iraq and Syria and 54 00:02:53,160 --> 00:02:56,440 Speaker 1: fighting terrorists and preventing ISIS from expanding and growing, we 55 00:02:56,520 --> 00:02:58,480 Speaker 1: need to have a better job and a better handle 56 00:02:58,520 --> 00:03:03,240 Speaker 1: on homegrown jihad and on combating the ideology itself. Meanwhile, 57 00:03:03,280 --> 00:03:06,200 Speaker 1: Senate Minority Leader Harry Reid says the fifteen hour filibuster 58 00:03:06,320 --> 00:03:08,160 Speaker 1: on the Senate floor that ended early this morning is 59 00:03:08,160 --> 00:03:10,680 Speaker 1: a signal to the country that Democrats won't cave to 60 00:03:10,720 --> 00:03:13,520 Speaker 1: the National Rifle Association when it comes to gun control. 61 00:03:13,680 --> 00:03:16,880 Speaker 1: Thinking late wednes New morning and ending early Thursday morning, 62 00:03:17,840 --> 00:03:21,720 Speaker 1: the entire nation who watched the Junior Center from Connecticut 63 00:03:22,520 --> 00:03:26,320 Speaker 1: give our Republican colleagues a lesson a number of things, 64 00:03:26,800 --> 00:03:29,880 Speaker 1: not the least of which is courage. The top lawyers 65 00:03:29,880 --> 00:03:31,919 Speaker 1: at forty four U S companies are urging the Senate 66 00:03:31,960 --> 00:03:34,200 Speaker 1: to consider the nomination of Judge Merrick Garland for the 67 00:03:34,200 --> 00:03:36,240 Speaker 1: Supreme Court. In the letters sent today at the top 68 00:03:36,280 --> 00:03:39,520 Speaker 1: members of the Judiciary Committee General Councils called Garland quote 69 00:03:39,600 --> 00:03:43,560 Speaker 1: exceptionally well qualified. A woman who falsely portrayed herself as 70 00:03:43,560 --> 00:03:46,280 Speaker 1: a Superstorm Sandy victim to get free hotel rooms and 71 00:03:46,280 --> 00:03:49,880 Speaker 1: relief aid has pleaded guilty to a felony charge. Attorney 72 00:03:49,880 --> 00:03:52,600 Speaker 1: General Eric Sniderman's as Katerina Curtolo has been ordered to 73 00:03:52,600 --> 00:03:55,400 Speaker 1: pay more than eighty seven thousand dollars in restitution to 74 00:03:55,440 --> 00:03:58,400 Speaker 1: the city and the American Red Cross. Global News twenty 75 00:03:58,400 --> 00:04:00,600 Speaker 1: four hours a day, powered by our journalists in more 76 00:04:00,640 --> 00:04:02,840 Speaker 1: than a hundred fifty news beeraus around the world. From 77 00:04:02,840 --> 00:04:05,920 Speaker 1: the Bloomberg News Room, I'm David Garray Charlie, and we 78 00:04:06,040 --> 00:04:08,800 Speaker 1: thank you just getting word from Oracle reporting fourth quarter 79 00:04:08,840 --> 00:04:11,760 Speaker 1: adjusted earnings per share of eighty one cents. Estimates. There 80 00:04:11,760 --> 00:04:14,960 Speaker 1: a word for eighty two cents. Fourth quarter adjusted revenue 81 00:04:15,040 --> 00:04:18,480 Speaker 1: ten point six billion estimate there was for ten point 82 00:04:18,560 --> 00:04:22,240 Speaker 1: five billion, again recapping a move higher for US equities 83 00:04:22,480 --> 00:04:25,720 Speaker 1: SMP five hundred indecks up six to two thousand, seventy eight, 84 00:04:25,760 --> 00:04:29,160 Speaker 1: a gain of three tenths of one percent. I'm Charlie Pellett, 85 00:04:29,240 --> 00:04:32,920 Speaker 1: and that's a Bloomberg business flash move around most and 86 00:04:33,000 --> 00:04:39,080 Speaker 1: creates the motion. Move you move like they do. I've 87 00:04:39,120 --> 00:04:45,400 Speaker 1: never seen anyone move that back tired Peoplet's move like 88 00:04:45,480 --> 00:04:53,280 Speaker 1: you've got a purpose. He's called movers and shakers. It 89 00:04:53,400 --> 00:05:02,159 Speaker 1: costs a little more. That name cracked me up. Bloomberg 90 00:05:02,240 --> 00:05:06,640 Speaker 1: taking stock movers and shakers with bim Box and Gatlin's 91 00:05:07,000 --> 00:05:10,560 Speaker 1: on Bloomberg Radio. Movers and Shakers for Thursday, June the 92 00:05:10,600 --> 00:05:13,720 Speaker 1: sixteen twenty is sixteen. Taking a look at the constituents 93 00:05:13,720 --> 00:05:17,440 Speaker 1: of the SMP five hundred, three hundred and eleven issues 94 00:05:17,480 --> 00:05:20,960 Speaker 1: move higher, one hundred and ninety three decline, and one 95 00:05:21,040 --> 00:05:24,719 Speaker 1: remains unchanged. That's bringing Bloomberg stocks comm is that Dave 96 00:05:24,880 --> 00:05:27,960 Speaker 1: Wilson to begin our movers and shakers. Dave Well Charlie 97 00:05:28,080 --> 00:05:30,480 Speaker 1: Pella mentioned the headlines out of Oracle that stock up 98 00:05:30,480 --> 00:05:32,760 Speaker 1: one point six percent late trading. I'll tell you though, 99 00:05:32,800 --> 00:05:36,479 Speaker 1: the story of the past hour is Viacom hands down. 100 00:05:36,760 --> 00:05:41,400 Speaker 1: Controlling shareholders sum the red Stone oustad chief executive Philippe 101 00:05:41,440 --> 00:05:45,440 Speaker 1: Dowman and four others as directors of the media company 102 00:05:45,520 --> 00:05:50,799 Speaker 1: and named their replacements. And Viacom's lead independent director, Fred Salerno, 103 00:05:51,279 --> 00:05:54,720 Speaker 1: was one of those that was purged from the media company. 104 00:05:54,960 --> 00:05:57,840 Speaker 1: Red Stones National Amusements filed the lawsuits were from the 105 00:05:57,920 --> 00:06:01,920 Speaker 1: validity of the move. Now all that's change. Actually, like 106 00:06:02,160 --> 00:06:05,520 Speaker 1: bt I g to raise Viacom to buy from Neutral. 107 00:06:05,880 --> 00:06:09,120 Speaker 1: Analyst Rich Greenfield in a report describing this as a 108 00:06:09,160 --> 00:06:14,800 Speaker 1: possible first step toward the reunification of Viacom and CBS, 109 00:06:14,800 --> 00:06:18,560 Speaker 1: both controlled by National Amusements, and Viacom shares are up 110 00:06:18,680 --> 00:06:21,960 Speaker 1: six point eight percent in today's training and just to 111 00:06:22,040 --> 00:06:24,960 Speaker 1: take a quick look at CBS up to a point 112 00:06:25,120 --> 00:06:29,120 Speaker 1: four percent. You got it, twocent. Well, let's look at 113 00:06:29,160 --> 00:06:32,080 Speaker 1: one the fell today. And since we're fans of aviation 114 00:06:32,440 --> 00:06:36,240 Speaker 1: on taking stock, I want to look at American Airlines. 115 00:06:36,320 --> 00:06:40,000 Speaker 1: It's uh stock closing lower by more nearly four and 116 00:06:40,040 --> 00:06:43,520 Speaker 1: a half percent. Now what happened? Bank of America Marylynch 117 00:06:43,720 --> 00:06:48,080 Speaker 1: downgraded American Airlines to underperform from neutral, as it was 118 00:06:48,120 --> 00:06:52,960 Speaker 1: lowering its seventeen earnings estimates for the entire airline industry. 119 00:06:53,040 --> 00:06:55,440 Speaker 1: On guess what we've got the reversal of those super 120 00:06:55,520 --> 00:06:58,599 Speaker 1: low oil prices. They've moved higher, So that's the culprit. 121 00:06:58,800 --> 00:07:02,000 Speaker 1: In fact, analyst said they're suck and half sixteen to 122 00:07:02,120 --> 00:07:06,640 Speaker 1: twenty seventeen fuel curve outlook is now twenty percent to 123 00:07:06,760 --> 00:07:09,760 Speaker 1: sixteen percent ahead of their models. And if you don't 124 00:07:09,760 --> 00:07:11,920 Speaker 1: expect any jump in airline bookings, you have to lawyer 125 00:07:11,960 --> 00:07:15,080 Speaker 1: earnings per share outlook as they did by seventeen to 126 00:07:15,160 --> 00:07:17,720 Speaker 1: thirteen percent on average PM. Let me talk about the 127 00:07:17,720 --> 00:07:20,840 Speaker 1: shares of Smith and Wesson up one and a quarter 128 00:07:21,080 --> 00:07:24,400 Speaker 1: percent today. This comes after they reported fourth quarter results 129 00:07:24,400 --> 00:07:27,320 Speaker 1: that were better than analysts estimates. Fourth quarter earnings per 130 00:07:27,360 --> 00:07:30,960 Speaker 1: share sixty six cents. The estimate was for fifty four cents. 131 00:07:31,240 --> 00:07:33,280 Speaker 1: And I say that net sales of two hundred and 132 00:07:33,280 --> 00:07:37,000 Speaker 1: twenty one million better than analysts estimates of two hundred 133 00:07:37,000 --> 00:07:40,920 Speaker 1: and fourteen million. Shares of Smith and Wesson up one 134 00:07:40,960 --> 00:07:43,400 Speaker 1: and a quarter percent today. Well, we have to mention Mark, 135 00:07:43,480 --> 00:07:47,000 Speaker 1: the drugmaker released study results showing the cancer treatment key 136 00:07:47,080 --> 00:07:51,040 Speaker 1: Truda worked better than chemotherapy and patients with the most 137 00:07:51,040 --> 00:07:54,120 Speaker 1: common form of lung cancer. Now, key Truda is already 138 00:07:54,200 --> 00:07:58,160 Speaker 1: used to treat melanoma. It's ahead of for blockbuster status. 139 00:07:58,280 --> 00:08:01,560 Speaker 1: That means billion dollars plus in annual sales. And the 140 00:08:01,640 --> 00:08:04,840 Speaker 1: prospect of this new use for the treatment, well, that's 141 00:08:04,840 --> 00:08:07,400 Speaker 1: set merch shares up two and a Bristol Myers squib 142 00:08:07,520 --> 00:08:10,120 Speaker 1: which is also working on drugs to treat this form 143 00:08:10,120 --> 00:08:15,360 Speaker 1: of lung cancer, that stocked down one Macie's that stock 144 00:08:15,800 --> 00:08:19,560 Speaker 1: moving up today one on a quarter per cent after 145 00:08:20,000 --> 00:08:23,120 Speaker 1: it struck a deal with its union. They had to 146 00:08:23,160 --> 00:08:28,080 Speaker 1: extend the deadline past last night at midnight, but it 147 00:08:28,200 --> 00:08:32,000 Speaker 1: is a big deal. The stock definitely moved higher, a 148 00:08:32,040 --> 00:08:34,000 Speaker 1: big hang up at first. I liked, say what they got? 149 00:08:34,040 --> 00:08:37,360 Speaker 1: I mean they got substantial wage increases, more affordable healthcare, 150 00:08:37,440 --> 00:08:40,320 Speaker 1: and new scheduling rules that don't enquire employees work on 151 00:08:40,360 --> 00:08:44,280 Speaker 1: holidays like Thanksgiving and Christmas. Um the union saying the 152 00:08:44,320 --> 00:08:46,880 Speaker 1: premiums that they're paying now for healthcare at Macy's are 153 00:08:46,920 --> 00:08:49,680 Speaker 1: just too high. The deductible him three thousand dollars for 154 00:08:49,679 --> 00:08:51,960 Speaker 1: an individual worker and six thousand for a family. So 155 00:08:52,080 --> 00:08:55,520 Speaker 1: Macy's recognizing that and making some concessions. I'll just say 156 00:08:55,559 --> 00:08:59,680 Speaker 1: briefly about this, UH Stanley Black and Decker inasmuch as 157 00:08:59,760 --> 00:09:02,960 Speaker 1: they rang the closing bell today on Wall Street. UH 158 00:09:03,160 --> 00:09:06,000 Speaker 1: Stanley Black and Decker shares up about two tenths of 159 00:09:06,040 --> 00:09:09,480 Speaker 1: a percent. About an interesting report from Wells Fargo with 160 00:09:09,559 --> 00:09:13,640 Speaker 1: an outperform rating on Stanley Black and Decker, saying that 161 00:09:13,679 --> 00:09:17,480 Speaker 1: the divestment of it's what they call the mechanical locks 162 00:09:17,520 --> 00:09:21,120 Speaker 1: business to Allegion would be nicely a creative for Legion 163 00:09:21,240 --> 00:09:24,960 Speaker 1: and for Stanley Black and Decker, and Wells Fargo says 164 00:09:24,960 --> 00:09:28,719 Speaker 1: the deal could be uh useful for Stanley Black and 165 00:09:28,800 --> 00:09:31,480 Speaker 1: Dead because they could use the proceeds for purchases of 166 00:09:31,520 --> 00:09:37,319 Speaker 1: more strategic assets. Now it's time for the Volatility Index Report, 167 00:09:37,360 --> 00:09:39,800 Speaker 1: brought to you by cbo E VIS Options and Futures. 168 00:09:39,840 --> 00:09:42,960 Speaker 1: Volatility can be harnessed with cbo e X Options and 169 00:09:43,000 --> 00:09:48,040 Speaker 1: Future Seat disclosures and learn some more act cbo E 170 00:09:48,200 --> 00:09:53,640 Speaker 1: dot Com Slash Powerful Outcomes VIX. People are watching Vix 171 00:09:54,040 --> 00:09:57,040 Speaker 1: very closely to get a measure of how people are watching. 172 00:09:57,080 --> 00:09:59,600 Speaker 1: Briggs at the Vix actually down today though point seven 173 00:09:59,640 --> 00:10:03,439 Speaker 1: five in nineteen point three nine, but June a week 174 00:10:03,440 --> 00:10:07,000 Speaker 1: from today we could see hot stuff. All right, Dave, 175 00:10:07,080 --> 00:10:12,839 Speaker 1: you're up? Uh hi, my name is Dave. Just what 176 00:10:12,880 --> 00:10:18,680 Speaker 1: do you think you're doing? We're going for the price, Dave, 177 00:10:18,400 --> 00:10:24,640 Speaker 1: Dave Hey, Mr Wilson. Always a pleasure take us through 178 00:10:24,679 --> 00:10:29,040 Speaker 1: the aisles of Central Garden and Pet. Okay, well, they 179 00:10:29,120 --> 00:10:33,920 Speaker 1: actually make stuff that goes into the aisles of uh 180 00:10:34,080 --> 00:10:38,640 Speaker 1: lawn and garden retailers and pets suppliers, and I mean 181 00:10:38,679 --> 00:10:40,840 Speaker 1: really the lines of business are reflected in any They 182 00:10:40,840 --> 00:10:44,079 Speaker 1: started nine is the distributor of lawn garden supplies of 183 00:10:44,160 --> 00:10:47,360 Speaker 1: the nineteen nineties. Company moved into production and expanded it's 184 00:10:47,400 --> 00:10:49,400 Speaker 1: a pet supplies through takeovers. And for the sake of 185 00:10:49,440 --> 00:10:51,640 Speaker 1: full disclosure, I will tell you that my brother in 186 00:10:51,720 --> 00:10:54,000 Speaker 1: law warts there, so I've known about the company for years. 187 00:10:54,440 --> 00:10:58,160 Speaker 1: Central Garden went public in ninete and created non voting 188 00:10:58,160 --> 00:11:00,800 Speaker 1: Class A shares in two thousand seven. Class A ticker 189 00:11:00,920 --> 00:11:04,200 Speaker 1: c E N t A. It's older common shairs which 190 00:11:04,200 --> 00:11:06,800 Speaker 1: have voting rights trade under the ticker c E n 191 00:11:06,840 --> 00:11:10,800 Speaker 1: T now. Both classes set records today after sun Trust 192 00:11:11,000 --> 00:11:15,040 Speaker 1: Robinson Humphrey recommended buying them for the first time since September. 193 00:11:16,080 --> 00:11:18,959 Speaker 1: Alice William Chappell raised its twelve month price estimate by 194 00:11:19,040 --> 00:11:22,960 Speaker 1: sixty seven percent to thirty dollars of share. Chapel wrote 195 00:11:22,960 --> 00:11:25,280 Speaker 1: in a report the Central Garden will benefit from having 196 00:11:25,720 --> 00:11:30,240 Speaker 1: former Chlorox chief operating officer George Roth as its chief executive. 197 00:11:30,400 --> 00:11:33,120 Speaker 1: Roth took over in June one from John Ronnelly, who 198 00:11:33,160 --> 00:11:36,520 Speaker 1: retired after three years in the position. Central Garden Class 199 00:11:36,559 --> 00:11:38,960 Speaker 1: A shares up almost twelve and a half percent in 200 00:11:38,960 --> 00:11:41,920 Speaker 1: today's training, and the common chairs did even better. They 201 00:11:41,960 --> 00:11:46,679 Speaker 1: gained almost fourteen percent. Hey Willson, thanks so much our 202 00:11:46,880 --> 00:11:49,280 Speaker 1: stock center. You can follow him on Twitter at the 203 00:11:49,360 --> 00:11:54,640 Speaker 1: One Day Cannabis. It's an industry that is growing rapidly. 204 00:11:55,160 --> 00:11:58,880 Speaker 1: We're going to find out about a new pharmaceutical coming 205 00:11:58,960 --> 00:12:07,280 Speaker 1: coming up next Bloomberg Radio. Bloomberg Taking Stock is brought 206 00:12:07,320 --> 00:12:12,160 Speaker 1: to by National Realty Providers of Satisfaction Guaranteed New York 207 00:12:12,240 --> 00:12:15,760 Speaker 1: City Realty Investments. See them at n r I a 208 00:12:16,240 --> 00:12:16,720 Speaker 1: dot net