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Bloomberg's Wilson on Winners, Losers, Stock of the Day (Audio) · Bloomberg Intelligence

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  Speaker 1: He's a Bloomberg Business Flash from Bloomberg World Headquarters. I'm
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  Speaker 1: Katherine Powdery And as that closing bell sounds, it finds
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  Speaker 1: a down Industrial Average down six points at seventeen thousand four,
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  Speaker 1: D SMP five foundered down four points at two thousand
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  Speaker 1: forty eight, and as dacked down four points at sixty five. Well,
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  Speaker 1: it wasn't up and down day on Wall Street. Stocks
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  Speaker 1: fluctuating as investors await more clarity on the timing of
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  Speaker 1: says stocks won't know where to go until after next
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  Speaker 1: think the focus is primarily on what's the Federal Reserve
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  Speaker 1: going to do in the month of June. I think
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  Speaker 1: there's a very strong belief at the Federal Reserve is
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  Speaker 1: likely to raise interest rates in June. We check the
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  Speaker 1: markets every fifteen minutes, so drop for a fourth day.
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  Speaker 1: The longest threat of declines in more than a month.
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  Speaker 1: Producers in Canada work to resume operations after wildfires and
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  Speaker 1: around continued to increase its exports. West Sex is intermediate
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  Speaker 1: prude oil currently down twenty five cents of barrel half
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  Speaker 1: a percent to forty eight sixteen spout goald down two
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  Speaker 1: dollars eighty cents, announce of twelve fifty ten year treasury
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  Speaker 1: of one thirty second with the yield of one point
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  Speaker 1: a three percent. Among today's top business stories, there is
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  Speaker 1: offering sixty two billion dollars to buy mont Santo, deepening
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  Speaker 1: investor concerned that it will strain its finances. Their stock
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  Speaker 1: dropped as a bunch of six percent in German trading,
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  Speaker 1: extending losses since the potential deal was first revealed. Buying
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  Speaker 1: Montsanto would allow Bearer to tap into growing demand at
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  Speaker 1: a time when farmers in most loose productivity to feed
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  Speaker 1: an estimated ten billion people globally by twenty fifty. Monsanto
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  Speaker 1: shares at four point four percent to day to one
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  Speaker 1: hundred five ninety nine. The SEC is said to be
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  Speaker 1: investigating whether Deutsche Bank inflated the value of securities and
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  Speaker 1: its mortgage bond trading businesses and masked losses through that's
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  Speaker 1: according to people with knowledge of the matter, and General
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  Speaker 1: Electric has agreed to take part in three billion dollars
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  Speaker 1: of Saudi Arabia investments as a desert kingdom seeks to
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  Speaker 1: diversify its economy away from crude oil. And now let's
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  Speaker 1: get an update on some of the other stories that
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  Speaker 1: we're following on Bloomberg Radio today. Catherine, Thank you from
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  Speaker 1: the Bloomberg Newsroom, by Mark Crumpton. In Baltimore, avertict today
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  Speaker 1: in connection with the arrest of Freddy Gray not guilty
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  Speaker 1: on all charges. That is the decision from Baltimore Circuit
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  Speaker 1: Judge Berry Williams and the trial of Officer Edward Nero.
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  Speaker 1: He was facing assault, reckless endangerment, and misconduct in office
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  Speaker 1: charges for the arrest that ended in Gray's death last year.
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  Speaker 1: One other officer, Garrett Miller, is facing the exact same charges.
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  Speaker 1: He actually testified for the prosecution in Nero's trial before
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  Speaker 1: his own in July. This verdict, though, deals another serious
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  Speaker 1: blow to prosecutors. The first trial over Freddy Gray's death
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  Speaker 1: for Officer William Porter ended in a hung jury. Nathan
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  Speaker 1: Hagar Bloomberg Radio, Washington. President Obama is in Vietnam, where
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  Speaker 1: he met in Hanois with the country's president. Mr Obama
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  Speaker 1: who served both our countries decades ago and then took
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  Speaker 1: on one last mission, and that was the mission to
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  Speaker 1: help our nations reconcile. The President today lifted the US
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  Speaker 1: embargo on weapons sales to Vietnam. Senator Kirsten Gillibrand says
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  Speaker 1: sexual misconduct is still a destructive force in the armed
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  Speaker 1: services and military communities. She's issued a new reporters in
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  Speaker 1: Congress to take more aggressive steps to combat the problem.
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  Speaker 1: The New York Democrat examined files from three hundred twenty
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  Speaker 1: nine sexual assault cases that occurred in ten at bases
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  Speaker 1: Bloomberg News Room. I'm Mark Crumpton, Katherine, thank you. Now,
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  Speaker 1: let's check the benchmarks as they begin to settle. The
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  Speaker 1: Dow Industrial leverage down eight points to seventeen thousand, four
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  Speaker 1: hundred ninety two s and p FI foundered down four
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  Speaker 1: points at two thousand forty eight, then as dacked down
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  Speaker 1: four points to forty seven sixty five and Bloomberg Taking
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  Speaker 1: a bloom Bar business flash move around Mortembray Promotions ideally
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  Speaker 1: Earth Move. You moved like they do. I've never seen
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  Speaker 1: anyone move that beast fired people. It's moved like you
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  Speaker 1: got a purpose. That was called movers and shakers. The
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  Speaker 1: cost of of them. That name cracked me up. Bloomberg
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  Speaker 1: taking stock Movers and Shakers with Pim Fox and Kathleen
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  Speaker 1: As on Bloomberg Radio. We're live today at Invested sixteen,
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  Speaker 1: The Power of Big Ideas. It's a B N Y
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  Speaker 1: Melon client conference at Duve Mountain, thirty miles from Tucson, Arizona. Well,
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  Speaker 1: Dave Wilson is backup Bloomberg World headquarters in New York City.
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  Speaker 1: We're kicking off movers and shakers, and as we do,
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  Speaker 1: just want to give you the breakdown in terms of
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  Speaker 1: the SMP five hundred winners and losers, A hundred and
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  Speaker 1: eighty six issues closing higher. They were at a fourteen
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  Speaker 1: closing lower, five unchanged. So Dave, what are you looking at? Well?
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  Speaker 1: The two best performers in the SNP five hundred have
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  Speaker 1: a couple of things in common. One is that they
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  Speaker 1: both fit into the materials category, and two is that
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  Speaker 1: their shares rose four point four percent on the day.
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  Speaker 1: One of them's Monsanto. We found out that an unsolicited
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  Speaker 1: takeover offer from German and he's buyer valued these seed
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  Speaker 1: and farm chemical producer at sixty two billion dollars or
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  Speaker 1: a hundred twenty two dollars to share, Monsanto closing in
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  Speaker 1: a hundred and six dollars today after rising that four
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  Speaker 1: point four percent. The other is a fertilizer producers CF
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  Speaker 1: Industries Holdings. Now they had planned to buy a Dutch rival,
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  Speaker 1: O c I for five point four billion dollars. They
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  Speaker 1: backed out of the deal as a result of tax
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  Speaker 1: law changes here in the US that made it impractical
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  Speaker 1: for them to proceed. It would have been a case
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  Speaker 1: of a tax in version where CF in essence moved
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  Speaker 1: its legal headquarters overseas in order to cut its tax bills.
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  Speaker 1: And that's exactly what the laws were designed to prevent
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  Speaker 1: in some cases, or at least impede. So see if
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  Speaker 1: backing away from that deal, and as I mentioned, rising
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  Speaker 1: four point four percent, as did mont Santos of Apple
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  Speaker 1: today higher by about one and a quarter percent. This
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  Speaker 1: comes after a report in Taiwan's Economic Daily that Apple's
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  Speaker 1: suppliers have been asked to make more iPhone sevens than
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  Speaker 1: previously estimated. They said that Apple as suppliers to produce
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  Speaker 1: between seventy two and seventy eight million I falls sevens
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  Speaker 1: by the end of the year. That is higher than
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  Speaker 1: Wall Street analysts estimates of sixty five million shares of
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  Speaker 1: Skywork Solutions as well as Corvo, both gaining a little
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  Speaker 1: bit more than one and a half percent today on
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  Speaker 1: this news once again, chairs an Apple higher today by
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  Speaker 1: one and a quarter percent. I just want to take
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  Speaker 1: a look at Coca Cola. A little bit of pressure
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  Speaker 1: earlier on the stock, but it's closing up a couple
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  Speaker 1: of pennies at forty three and ninety seven cents. In
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  Speaker 1: spite of it, it is stopping production of well Coca
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  Speaker 1: Cola sugar sweetened beverages in Venezuela. There's a lack of
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  Speaker 1: raw materials in this very cash drap very turbulent economy country.
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  Speaker 1: And soft drinks, of course, are just one of the
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  Speaker 1: latest of products to join this long line where production
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  Speaker 1: has already been halted. Uh A Coca Colas women saying
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  Speaker 1: an email today that sure suppliers in Venezuela have informed
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  Speaker 1: us that they will temporarily sees operations and the company
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  Speaker 1: is talking with suppliers, government authorities and others to work
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  Speaker 1: on a solution. We're gonna be talking about Coca Cola
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  Speaker 1: and more broadly, what's happening with commodities producers in Venezuela
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  Speaker 1: later in the program. I want to mention the worst
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  Speaker 1: performer on the day in the S and P five hundred.
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  Speaker 1: It's an industrial company called Roper Technologies, and it became
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  Speaker 1: a target for a short selling research firm off Wall
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  Speaker 1: Street Consulting group. They came out and said they're looking
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  Speaker 1: for the stock to drop to a hundred and eighteen dollars,
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  Speaker 1: down thirty six percent from last week's close. They're talking
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  Speaker 1: about slower revenue growth in one of their main business
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  Speaker 1: units and possibly another one coming up short of the
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  Speaker 1: company's own forecasts in terms of growth. You put that
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  Speaker 1: together and roper Technologies that took our r o P
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  Speaker 1: on the stock following five point seven percent on the day.
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  Speaker 1: All right, let me tell you about the VIX today
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  Speaker 1: movie higher and this is of course the Volatility Index
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  Speaker 1: I said, um up about let's take a look, three
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  Speaker 1: point eight percent just moves higher on the close, three
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  Speaker 1: point eight percent, an increase of point fifty eight, settling
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  Speaker 1: at the fifteen point to seventy eight. And you know,
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  Speaker 1: they're looking at the VIX performance over the last couple
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  Speaker 1: of sessions and beginning in in this session. You have
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  Speaker 1: to take note that the VIX has really been subdued
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  Speaker 1: all through the year, and that that is an indication
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  Speaker 1: of complacency. And it means also that futures on the
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  Speaker 1: VIX are less expensive than they normally would be. All right, Dave,
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  Speaker 1: you're uh hi, my name is Dave. Just what do
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  Speaker 1: you thinks you're doing things? We're going for a Dave
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  Speaker 1: kay l X, Dave Wilson apparently uh first quarter disappointment.
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  Speaker 1: Absolutely now. This is a company that distributes aircraft parts
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  Speaker 1: and provides services to oil and gas producers. The aerospace
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  Speaker 1: unit accounts for about nine of the company's revenue and
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  Speaker 1: all of its earnings has lower oil and gas prices
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  Speaker 1: have hurt the energy business. Kal X gained independence in
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  Speaker 1: December from b E Aerospace, which spun off the company
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  Speaker 1: after coming under pressure from the activist fund Relational Investors.
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  Speaker 1: It's listed under the ticker symbol k l x I
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  Speaker 1: now kal X shares initially traded in the mid forties.
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  Speaker 1: They split the thirty hours seventy nine cents last year
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  Speaker 1: as the company reduced its value of its oil services
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  Speaker 1: business and hit bottom at twenty five thirty three in February.
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  Speaker 1: While Kallex rebounded in the past three months, the recovery
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  Speaker 1: was set back today after those fiscal first quarter results
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  Speaker 1: were released. Revenue was lower than analysts average estimate in
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  Speaker 1: the Bloomberg survey, and the company said falling demand from
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  Speaker 1: military and business jet customers well heard sales in its
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  Speaker 1: second quarter. Now, shares of Calx suffered their second biggest
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  Speaker 1: loss since the company when public. They dropped fourteen percent
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  Speaker 1: on the day. The only decline that was steeper occurred
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  Speaker 1: back in November, when the shares prel almost eighteen percent.
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  Speaker 1: Thank you very much, David Wilson, Bloomberg Stocks columnist, appreciate
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  Speaker 1: your look at today's stock of the day. We are
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  Speaker 1: broadcasting live from the Invested sixteen The Power of Big
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  Speaker 1: Ideas b n Y Melon's client conference in Tucson, Arizona.
• 11:45
  Speaker 1: You're listening to Taking stockheim pim Fox my co host
• 11:49
  Speaker 1: Kathleen Hayes looking at today's close SMP five hundred, down
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  Speaker 1: about two tenths of a percent, settling at two thousand
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  Speaker 1: forty eight. This is Bloomberg Radio Blober. Taking Stock is
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