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Speaker 1: Global business News twenty four hours a day at Blomberg

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Speaker 1: dot Com, So Radio plus Mobil and on your radio

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Speaker 1: Bloomberg Business Flash from Bloomberg World Headquarters on Katherine Cordy

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Speaker 1: and as that closing bell sounds, that finds the benchmarks

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Speaker 1: narrowing earlier losses down. Industrial aversdown one hundred eleven points

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Speaker 1: six tents of a percent at seventeen thousand, eight hundred

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Speaker 1: thirty eight, SMB five foundered down fifteen point seven tenths

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Speaker 1: of a percent at two thousand eighty eight, nastacked down

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Speaker 1: forty point seven eighths of a percent at forty two.

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Speaker 1: Well Stocks swell after comments from Mark Kearney, Governor of

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Speaker 1: the Bank of England, reawakened concerns that Britain's withdrawal from

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Speaker 1: the European Union will further way on economic growth now.

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Speaker 1: William Dudley, president of the Federal Reserve Bank of New York,

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Speaker 1: side today that Brexit is a cloud on the horizon

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Speaker 1: for policy. He added it's too early to understand the

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Speaker 1: full consequences of the vote. Equities pulled back after their

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Speaker 1: strongest weekly advanced since November. Brian Battle at performance at

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Speaker 1: Trust Capital Partners on today's losses. Certainly it's a shortened week,

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Speaker 1: so that's not helping. You know, we're gonna have a

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Speaker 1: little bit of sell off here for the start of

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Speaker 1: the second quarter. And also, probably more importantly, the incimpathy

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Speaker 1: with thee over the weekend in Europe and in Asia.

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Speaker 1: And we check the markets every fifteen minutes throughout the

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Speaker 1: trading day. West Texas Cinemedia Crude oilis down two dollars

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Speaker 1: twenty four cents of every four and a half percent

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Speaker 1: at forty seventy six. Spot gold is up eighteen dollars

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Speaker 1: ninety cents announced at thirteen fifty seven ninety, and the

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Speaker 1: Tenure Treasury is up twenty thirty seconds with the yield

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Speaker 1: of one point three seven percent. Among today's top business stories,

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Speaker 1: Comcast and Netflix have agreed to let customers of both

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Speaker 1: companies stream Netflix web video content on the cable companies

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Speaker 1: x one platform. The companies say the deal will provide

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Speaker 1: seamless access to the content offered by both of them.

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Speaker 1: BlackBerry says it will stop making its classic smartphone less

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Speaker 1: and two years after launching it with much fanfare, The

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Speaker 1: company will now focus on updating its smartphone line up.

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Speaker 1: BlackBerry his face as to stop making cell phones in

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Speaker 1: favor of focusing on its burgeoning software business. Us Land

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Speaker 1: large who built rental businesses by buying homes on this

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Speaker 1: are now consolidating and streamlining their operations, in part by

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Speaker 1: selling for a profit the properties that have stored in value.

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Speaker 1: And I was going to an update if some of

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Speaker 1: the other stories were following today. Thank you Katherine from

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Speaker 1: the Bloomberg newsroom. I'm rainy and essentio. President Obama and

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Speaker 1: Hillary Clinton are speaking in Charlotte, North Carolina. This is

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Speaker 1: their first joint campaign appearance. The event today comes after

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Speaker 1: the director of the FBI says the bureau will not

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Speaker 1: recommend charges against Clinton or her aids over violations of

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Speaker 1: email protocols that occurred during her tenure as Secretary of State.

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Speaker 1: Although there is evidence of potential violations of the statutes

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Speaker 1: regarding the handling of classified information, our judgment is that

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Speaker 1: no reasonable prosecutor would bring such a case. Presumptive Republican

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Speaker 1: nominee Donald Trump reacted to call these remarks, calling the

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Speaker 1: FBI's decision unfair and saying the system is rigged. Officials

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Speaker 1: say Islamic State appears to be increasing its attacks as

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Speaker 1: the extremist group loses territory across the Middle East. Deputy

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Speaker 1: Secretary of State Anthony B. Lincoln says he's confident the

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Speaker 1: terror group will be defeated. Actually, I think what we're

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Speaker 1: seeing is a product, to some great extent of the

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Speaker 1: success we're having against ices, because we're putting intense pressure

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Speaker 1: on ices at its core in Iraq, in Syria, and

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Speaker 1: what we're seeing is that lashing out in other places.

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Speaker 1: Authorities now say at least one seventy five people were

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Speaker 1: killed and almost two hundred were wounded after a truck

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Speaker 1: bombing in Iraq. Islamic State has claimed responsibility, and an

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Speaker 1: LLL flight from New York escorted by military jets from Europe,

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Speaker 1: landed safely in Israel today. LLL officials say flight Double

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Speaker 1: O two from JFK touched down after an anonymous tip

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Speaker 1: was received regarding a potential bomb threat on board. That

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Speaker 1: threat was ultimately unfounded, but it marked a rare security scare. Four.

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Speaker 1: LLL generally regarded as one of the world's most secure airlines.

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Speaker 1: Global news twenty four hours a day, powered by more

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Speaker 1: than journalists and analysts in more than one h twenty

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Speaker 1: countries from the Bloomberg Newsroom. I'm Rainy in Essenio. This

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Speaker 1: is Bloomberg, Katherine, thank you. And now let's get a

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Speaker 1: quick tech of those equity benchmarks as they begin to

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Speaker 1: settle down. Dustrial leverage down one nine points at seventeen thousand,

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Speaker 1: eight hundred forty SMP FA foundered down fourteen points to

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Speaker 1: two thousand eighty eight. Then as to act down forty

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Speaker 1: points to two. And that's a Bloomberg business flash move

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Speaker 1: around most grade promotion. I feel the earth move on

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

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Speaker 1: move that back fired people. Let's moved like you got

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Speaker 1: a purpose. Couples called movers and shakers. It costs a

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Speaker 1: little more. That name cracked me up. Bloomberg taking stock

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Speaker 1: Movers and Shakers with Pim Fox and Kathleen Hay's on

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Speaker 1: Bloomberg Rady Movers and Shakers for Tuesday, July the fifth

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Speaker 1: twenty is sixteen one hundred and thirty one issues advanced

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Speaker 1: in the SMP five hundred, three hundred and seventy two

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Speaker 1: fall and three remain unchanged. Dave Wilson, Bloomberg Stocks, Thomas

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Speaker 1: joins us now to begin our Movers and shakers wanting

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Speaker 1: to highlight what happened with Apple and some of its

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Speaker 1: suppliers today. UH City Group cutting its earnings estimates on

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Speaker 1: the iPhone maker for the fiscal third and fourth quarters,

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Speaker 1: should point out Apple's fiscal year ends in September. I mean,

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Speaker 1: they're citing the effects of the UK vote to leave

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Speaker 1: the European Union in terms of currency swings and doubts

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Speaker 1: about economic growth, and beyond that, they're also talking about

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Speaker 1: people who have their iPhones keeping them longer. That the

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Speaker 1: average length of time before an iPhone gets replaced is

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Speaker 1: up to about twenty eight months from twenty four months

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Speaker 1: three years ago. So all that working against the Apple

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Speaker 1: the shares of down nine tents for percent today, and

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Speaker 1: you also had the cuts in a ratings on a

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Speaker 1: couple of its chip suppliers, Skywork Solutions and Serious Logic

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Speaker 1: that was over a Pacific crest. UH they did a

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Speaker 1: quarterly survey of Asian suppliers to companies like Apple and

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Speaker 1: turned out that the demand for chips for the new

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Speaker 1: iPhones that presumably are are being made as we speak

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Speaker 1: and we'll get introduced in the next few months, well,

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Speaker 1: they're just not living up to what the firm was expecting,

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Speaker 1: So Skyworks and Serious Logic Booth down about six percent today.

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Speaker 1: Let's take a look at hog H O G. Harley Davidson,

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Speaker 1: an iconic US brand. UH and Harley down pretty sharply

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Speaker 1: today at the closed ten point eight percent of forty

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Speaker 1: three dollars and change. Robert Barrett analyst Craig Kennison has

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Speaker 1: downgraded Harley to neutral versus outperformed on valuation. He also

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Speaker 1: wrote in a note that there's uh no information that

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Speaker 1: would corroborate recent takeout speculation. He's unaware of any credible

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Speaker 1: sources behind these rumors. However, his favorable opening on the

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Speaker 1: company remains unchanged. He's as hardy as among quote the

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Speaker 1: most valuable brands on the planet, with an intensely loyal

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Speaker 1: customer base. All right, you were driving on land, I'm

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Speaker 1: going to talk about flying in the air, talking about

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Speaker 1: the airline stocks. This comes after excess seating capacity worries

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Speaker 1: sluggish demand for pricey last minute business tickets. Investors have

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Speaker 1: been leaving airline stocks all year, and today Delta Airlines

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Speaker 1: said that passenger revenue for each seat flown a mile

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Speaker 1: to typical gauge for airlines fell five percent in the

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Speaker 1: second quarter. Shares of Delta down more than three percent.

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Speaker 1: United Airlines ninety Continental rather down two and a half percent,

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Speaker 1: American down more than one percent. Also followed by the

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Speaker 1: clients in Air Canada they were down more than two

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Speaker 1: and a half percent. Twinkies, Hoes, other snacks. The company

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Speaker 1: behind them is going to be public. We're talking about

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Speaker 1: Hostess Brands now. They made a deal with what's called

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Speaker 1: a special purpose acquisition company or SPACK. It's basically a

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Speaker 1: blank check company in this case, was set up by

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Speaker 1: the private actui firm Gores Group. Uh it's called Goal Cord,

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Speaker 1: called Gore's Holdings, and they're gonna put up some money

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Speaker 1: for the deal. And then you have some investors like

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Speaker 1: de Metropolis, big investor in food companies. He's gonna be

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Speaker 1: involved as well. You put it all together, Hostess goes public.

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Speaker 1: This is after two bankruptcy filings and then reorganizations since

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Speaker 1: two thousand nine, So interesting bit of a turn about there.

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Speaker 1: Gore's Holdings ticker on this one g r s H

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Speaker 1: shares up two point four percent in the wake of

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Speaker 1: this deal. You guys had to know I was going

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Speaker 1: to do BlackBerry, because you know how I'm kind of

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Speaker 1: a don't know, sentimental about this company that was so

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Speaker 1: much on top with its Blackberries. Talking about iconic it

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Speaker 1: really was at one point. And now BlackBerry has announced

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Speaker 1: it will no longer manufacturing the black Very Classic, a

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Speaker 1: beloved updated model of the original that made the company

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Speaker 1: a smartphone leader long before Apple and Samsung dethroned. At

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Speaker 1: p M. Blackberries down about three and a half percent. Yes,

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Speaker 1: perhaps the end of a BlackBerry as a hardware maker. Well,

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Speaker 1: now it's time for the Volatility Index Report, brought to

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Speaker 1: you by CBOE VIX Options in Futures. Volatility can be

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Speaker 1: harnessed with CBOE Vicks Options in Future CE disclosures. Learn

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Speaker 1: more at cbo e dot com Slash Powerful Outcomes VIX. Well,

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Speaker 1: the ViXS moved higher today point eight one points to

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Speaker 1: fifteen point five eight as the people who trade that

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Speaker 1: instrument are looking at some of the central bank moves

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Speaker 1: around the world. The Bank of England announcing steps to

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Speaker 1: to boost banks is signaling that he's a week economy,

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Speaker 1: and of course we're waiting for FED minutes tomorrow and

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Speaker 1: the big jobs report on Friday. All right, Dave here

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Speaker 1: uh Hi my name is Dave. Just what do you

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Speaker 1: think you're doing today? We're going for a price found

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Speaker 1: welcome on the door day day. Hey, Mr Wilson, tell

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Speaker 1: us about this company that's based in Beverly, mass uh

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Speaker 1: and it is an operator of kidney dialysis facilities run

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Speaker 1: by Joe Carlucci. Talk about American Renal Associates holdings. They

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Speaker 1: asked you do business in twenty five U s. States.

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Speaker 1: In the District of Columbia. Centers are set up as

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Speaker 1: partnerships between the company and local doctors. Now, American Renal

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Speaker 1: made its initial public offering enabled and raised a hundred

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Speaker 1: and sixty five million dollars in the stock sale. Company

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Speaker 1: shares are listed under the ticker a r A. American

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Speaker 1: Renal rose twenty and a half per sound as first

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Speaker 1: day of trading and anted to its games during the

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Speaker 1: next two months. Since then, the stock has been up

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Speaker 1: and down, and today was a decidedly down day. American

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Speaker 1: Renal disclosed the lawsuit was filed against the company by

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Speaker 1: units of the largest US health insured United Health Group.

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Speaker 1: The case involves one point nine million dollars and allegedly

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Speaker 1: improper payments to twelve facilities in Florida and Ohio for

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Speaker 1: patients covered under the Affordable Care Act, also known as Obamacare.

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Speaker 1: American Renal said in the filing that United Health claims

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Speaker 1: were without merit. Even so, these stocks suffered its biggest

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Speaker 1: one day lossons going public and closed at its lowest

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Speaker 1: price since trading began. American Renal Associates holdings fulling nine

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Speaker 1: point nine percent on the day to close at twenty

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Speaker 1: five dollars and SEV Dave Wilson, thank you so very

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Speaker 1: much his stock of the day, his chart of the day.

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Speaker 1: You can catch all of this every day on taking

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Speaker 1: Stock right here on Bloomberg Radio. I'm Kathleen Hayes along

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Speaker 1: with Pim Fox. Up next a new book, White Trash,

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Speaker 1: the four hundred year untold history of class in America.

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Speaker 1: Fitting book as the presidential race continues to heat up,

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Speaker 1: and this is Bloomberg coming up on taking Stock. A

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Speaker 1: conversation with Nancy Eisenberg, author, professor of American History at

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Speaker 1: Louisiana State University and the author of the new book

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Speaker 1: White Trash. That's next