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Speaker 1: Global business news twenty four hours a day at Bloomberg

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Speaker 1: dot com, the Radio plus Mobile Act and on your radio.

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Speaker 1: This is a Bloomberg business pluck. And there you have it,

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Speaker 1: sounded a closing valve of the New York Stock Exchange

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Speaker 1: as we wrap up trading on this Tuesday, May seventeen,

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Speaker 1: stock slower. This update fronto You by Marks Penneth l

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Speaker 1: l P. Ranked among the top three for rensic accounting

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Speaker 1: firms in New York Time the New York Law Journal

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Speaker 1: for the sixth year in a row is at Marks

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Speaker 1: Penneth dot com. Stocks extended losses amid growing speculation at

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Speaker 1: the Federal Reserve sees permen off economic growth to raise rates,

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Speaker 1: perhaps as soon as June. The SMP five hundred index

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Speaker 1: are raised. Yesterday's rally the SMP down nineteen points to

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Speaker 1: two thousand forty seven, a drop of one percent. Town

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Speaker 1: Industrials down one eighty two points, also a drop of

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Speaker 1: one percent, as Stack down fifty nine, a decline of

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Speaker 1: one point three percent. Gold hired today by five tenths

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Speaker 1: of one percent. Dennis Gartman is editor of the Garment Letter.

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Speaker 1: He was interviewed minutes ago right here on taking stock.

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Speaker 1: I think you're starting to see an increase in inflationary expectations.

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Speaker 1: The grains are turning for the better, live stock is

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Speaker 1: turning for the better. Clearly the crude oil market has

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Speaker 1: turned for the better. So there's inflationary circumstances prevailing, which

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Speaker 1: is helping to put a bit to the gold market,

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Speaker 1: and gold up today by six thirty ounce to twelve

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Speaker 1: eighty Crude oil West Texas is going to meet it

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Speaker 1: up one point seven percent. Wall streets. Looking ahead to

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Speaker 1: tomorrow's f O m C meeting the Atlanta Sholietti have

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Speaker 1: A is senior US economist at Bloomberg Intelligence. She was

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Speaker 1: also our guest this afternoon right here on taking stock.

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Speaker 1: What's gonna be key to see in the minutes tomorrow

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Speaker 1: and in the statement in at the June meeting is

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Speaker 1: whether they add back the guidance about the balance of risks.

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Speaker 1: And a lot of UH analysts think that if they

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Speaker 1: add this statement back, that my signaled that they're ready

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Speaker 1: to hike and again recapping stocks lower across the board today,

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Speaker 1: SMP five hundred index down to end the Tuesday session

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Speaker 1: of two thousand forty seven. For the SMP, that was

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Speaker 1: a drop of four o two is the time on

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Speaker 1: Wall Street Now will look at other news from around

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Speaker 1: the world on Bloomberg Radio. Charlie, Thank you from the

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Speaker 1: Bloomberg News Room. I Mark Crounton. Investigators with the National

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Speaker 1: Transportation Safety Board have released their findings into last year's

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Speaker 1: deadly amtrack derailment in Philadelphia. The Amtrak engineer told investigators

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Speaker 1: that he could not remember the events that occurred minutes

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Speaker 1: before the accident, including his decision to accelerate the train

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Speaker 1: as it headed toward Frankfort junction. That was the NTSP

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Speaker 1: Steve Jenner. That crash killed eight people. Donald Trump says

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Speaker 1: he can unify the Republican Party now that he's the

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Speaker 1: presumptive presidential nominee, but Iowa Congressman Steve King says he's

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Speaker 1: still debating whether to endorse him. I'm not ready to

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Speaker 1: do that. Um I'm I am have been active, and

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Speaker 1: I am ready to work things in that direction. Mr

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Speaker 1: Trump is about to get his first real attack from

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Speaker 1: the Clinton campaign. On Wednesday, a pro Clinton superpack will

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Speaker 1: begin airing its first TV attacks against the likely Republican nominee.

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Speaker 1: The first ads from Priorities USA focus on Mr Trump's

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Speaker 1: statements about women. Trump needs fewer than one hundred delegates

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Speaker 1: to clintse the nomination. The Justice Departments announced the two

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Speaker 1: years study of the North Charleston Police Department after last

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Speaker 1: year's fatal shooting of an unarmed black motorist. An attorney

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Speaker 1: for the family of Walter Scott calls that great news.

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Speaker 1: A former officer faces state and federal charges in scott

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Speaker 1: shooting death. To finance a new thirty five gate terminal

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Speaker 1: at LaGuardia, a group of builders and operators will borrow

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Speaker 1: two and a half billion dollars. The construction group, which

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Speaker 1: has put up two hundred million in equity for the

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Speaker 1: four billion dollar project, has guaranteed it will finish on

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Speaker 1: budget in six years. Global News twenty four hours a day,

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Speaker 1: powered by our twenty four hundred journalists and more and

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Speaker 1: one fifty news bureaus around the world from the Bloomberg

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Speaker 1: News Room by Mark Crompton. Charlie and we thank you

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Speaker 1: and again recapping a move floor for US equities today,

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Speaker 1: SMP down nineteen to two thousand forty seven, a drop

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Speaker 1: of nine tenths of one percent. I'm Charlie Pellett. That's

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Speaker 1: a Bloomberg Business flash move around Morten great promotions. I

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Speaker 1: move you move like they do. I've never seen anyone

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Speaker 1: move that back. Five people. Let's move like to get

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Speaker 1: a purpose. That was called movers and Shakers. They cost

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

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Speaker 1: Stock Movers and Shakers with Pimp Box and Kathleen As

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Speaker 1: on Bloomberg Radio Movers and Shakers for Tuesday, May the seventeenth,

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Speaker 1: twenty six ten n I'm Pim Fox my co host

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Speaker 1: Kathleen Hayes. We are broadcasting teeny live from the Kimpton

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Speaker 1: Morrison House Hotel in Alexandria, Virginia, Yes, home to Bloomberg

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Speaker 1: in the metro Washington area. On Bloomberg one and one

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Speaker 1: oh five point seven f M h D two and

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Speaker 1: Movers and Shakers. One hundred and twenty one constituents of

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Speaker 1: the SMP five hundred next move higher, three hundred and

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Speaker 1: eighty three were lower, and one remained unchanged. Dave Wilson

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Speaker 1: Bloomberg Stocks commist, start us off with your movers and shakers.

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Speaker 1: So I'll tell you Pim yesterday the story if you're

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Speaker 1: thinking about Warren Buffets Berkshire Hathaway was their purchase of

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Speaker 1: a steak and Apple who shares rose today. You've got

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Speaker 1: to focus in on craft Kinds because it's an example

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Speaker 1: of the company and the consumer staples business, and they

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Speaker 1: were the worst performers among the ten main industry groups

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Speaker 1: in the SMP five hundred and with in that group,

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Speaker 1: Kraft Kraft Hines had the biggest loss. Now, it's not

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Speaker 1: like there was a whole lot of news today to

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Speaker 1: push down the shares that said, uh, this is a

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Speaker 1: stock that had popped up about two weeks ago after

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Speaker 1: the first quarter earnies came out and beat analysts estimates.

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Speaker 1: So as a result of today's loss, they have now

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Speaker 1: given back the last of their post earnings advanced Kraft

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Speaker 1: Hyns falling today by four point three percent. Well, another

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Speaker 1: stock that fell today is Home Depot, down two and

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Speaker 1: a half percent to about a hundred thirty two bucks

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Speaker 1: a share. This in spite of the fact that his

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Speaker 1: first quarter results topped analysts estimates. The company raised its

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Speaker 1: forecast for the year, the CFO saying the company continues

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Speaker 1: to see strength in the US housing market, but guests

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Speaker 1: what comparable store sales rose at a much slower rate

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Speaker 1: in April, up four point three percent, down from six

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Speaker 1: point seven percent growth in March and at ten point

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Speaker 1: two percent gain in February. Analysts taking note of that,

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Speaker 1: pushing the stock lower to day, I thought I'd tell

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Speaker 1: you about a company, Agulant. I don't know, many people

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Speaker 1: may not even remember Angulant, but Angulant, yes, it is

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Speaker 1: still around. Agilant Technologies. Uh, the shares went higher today

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Speaker 1: by more than three percent. UH second quarter revenue growth

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Speaker 1: of eight percent exceeded even its own target, and a

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Speaker 1: lot of this came from one time items. We know that,

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Speaker 1: but growth was mainly due to UH shifts in the

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Speaker 1: change in the year and the process of improvements. Once again,

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Speaker 1: the shares of Agilant Technologies good earnings. Today shares are

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Speaker 1: hired by more than three percent. Well, I remember two

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Speaker 1: things about Angil and PIM. One is it used to

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Speaker 1: be a unit of Hewlett Packard before it would spun off.

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Speaker 1: And the second days it's ticker the letter A. Yes.

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Speaker 1: And speaking of the letter A, we might as well

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Speaker 1: talk about ABV. You know what their biggest seller is,

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Speaker 1: the arthritis drug Humera. Well, there is a patent challenge

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Speaker 1: coming to that particular treatment. The patent patent and Trademark

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Speaker 1: Office said they would consider a challenge brought by Coherence

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Speaker 1: bio Sciences, and actually the agency said UH Coherent showed

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Speaker 1: a reasonable likelihood that it would prevail in the dispute

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Speaker 1: over patent. Coher is trying to make UH in essence

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Speaker 1: a biotechnology equivalent of a generic drug. It's what they

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Speaker 1: call biosimilar for humea ABBY down three and a half

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Speaker 1: percent on the day and Coherus up almost six percent. Well,

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Speaker 1: Hurts was up as much as sixteen percent today, it's

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Speaker 1: closing up twelve and a half percent at around eight

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Speaker 1: dollars and sixty seven cents a share. UH. It has

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Speaker 1: been down forty six percent this year through the past

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Speaker 1: Monday and oversupply of vehicles pressuring the company's aroundfald pricing.

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Speaker 1: So the CEO and two other top officers of the company,

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Speaker 1: the CFO and the chief revenue officer, stepped in and

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Speaker 1: bought at least forty thousand shares each of hurt stock,

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Speaker 1: pushing that share price much higher. Well, I just sorry

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Speaker 1: talk a little bit about the energy because Southwestern Energy

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Speaker 1: that shares her up about four and a half percent. UH.

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Speaker 1: And you know this is just a continuing back and

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Speaker 1: forth in the energy market. You see thought you see

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Speaker 1: the price of oil move higher. Uh. In the case

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Speaker 1: of Southwest Energy, big conference taking place today, UH and um,

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Speaker 1: well they are trying to uh at least get their

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Speaker 1: deals done to move forward on their energy disposition. Southwestern

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Speaker 1: Energy of four and a half percent. Time Now for

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Speaker 1: the volatility and next report brought to you by CBOA

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Speaker 1: VIX Options and Futures. Volatilities can be harnessed with cbo

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Speaker 1: A VIX Options and Futures c disclosures. Learn more at

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Speaker 1: cbo E dot com. Slash Powerful Outcomes VIX. The fixed

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Speaker 1: closing up a point nine to fifteen point five nine

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Speaker 1: and even as it sits blow, it's bull market. Average

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Speaker 1: investors are using futures on the index to hedge against

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Speaker 1: trouble in stocks six months from now. They've been up

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Speaker 1: November contracts on the VIX to twenty point five, sending

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Speaker 1: prices to the biggest cream eminent in nearly three years

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Speaker 1: versus expected volatility in the spider sp d R SMP

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Speaker 1: five E t F over the same period. All right,

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Speaker 1: Dave here up, uh hi, my name is Dave. Just

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Speaker 1: what do you think you're doing things? We're going for

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Speaker 1: Dave Hey, Mr Willson, Blomberg Stocks columnist, resident musicologist, all

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Speaker 1: things having to do with the market. Uh, tell us

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Speaker 1: about your selection for today? Well, pim, how would you

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Speaker 1: like a hamburger with bourbon infused barbecue sauce, or a

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Speaker 1: bun made out of ramen noodles, or maybe a tower

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Speaker 1: of onion rings or unlimited steak fries. All these items

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Speaker 1: around the menu at Red Robin Gourmet Burgers. And for

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Speaker 1: the sake of disclosure, I'll tell you I have eaten

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Speaker 1: most of them. I haven't tried the Roman noodle bun yet,

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Speaker 1: but possibly down the line. Red Robin traces its roots

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Speaker 1: back to the nineteen forties and became a public company

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Speaker 1: in July two thousand two. It's listed under the ticker

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Speaker 1: r r B g at make that r r GB

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Speaker 1: okay gramin burgers. The company made its initial public offering

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Speaker 1: at twelve dollars a share in the stock peaked at

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Speaker 1: a record five dollars last August. Since then, disappointing results

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Speaker 1: have hurt Red Robin. The company's first quarter report came

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Speaker 1: out today and brought more of the same. Sales failed

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Speaker 1: to meet analyst average estimate, and Bloomberg Survey for the

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Speaker 1: fourth quarter in a row, sales at locations open more

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Speaker 1: than a year fell two point six percent. The company

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Speaker 1: cut its revenue growth forecast for this year and scaled

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Speaker 1: back expansion plans. The results and outlook, well, they really

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Speaker 1: did take a toll on Red Robin shares. Stock ended

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Speaker 1: up with its biggest one day law since August, falling

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Speaker 1: eighteen percent on the day. And of course, in signed

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Speaker 1: from Olympia, Washington, I can tell you the first, uh,

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Speaker 1: the first Red Robin was right there in Seattle at

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Speaker 1: the just right by the University Bridge. At any rate,

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Speaker 1: I'm Cafe and Hayes Long pim Fox Broadcasting Life and

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Speaker 1: the Kimpton Morrison House Hotel and Alexandria, Virginia. This is

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Speaker 1: Bloomberg Radio. Bloomberg Taking Stock is brought to you by

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Speaker 1: Fordham University, the Gavelly School of Business Executive NBA, top

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Speaker 1: or Westchester. Learned more at Fordham dot E d U

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Speaker 1: slash E n B A