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

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  Speaker 1: Global business news story four hours a day. If Bloomberg
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  Speaker 1: got gone the radio plus mobil your said Bloomberg Business
• 0:11
  Speaker 1: Flash from Bloomberg World Headquarters, signed Charlie Public, the dal
• 0:15
  Speaker 1: v S and t naztack Hall, advancing on his jobs Friday.
• 0:19
  Speaker 1: It is onto a long holiday weekend, folks from New
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  Speaker 1: York Air show ringing that closing bell Stock's edge hire
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  Speaker 1: with an earlier rally losing some steam amid underwhelming labor
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  Speaker 1: market data that did little to bolster confidence growth will
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  Speaker 1: be steady enough to support stronger corporate earnings. Alan Krueger
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  Speaker 1: is a professor of economics at Princeton, and he was
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  Speaker 1: interviewed today right here on the Bloomberg advantage. This look
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  Speaker 1: okay to me. I think we're going to grow about
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  Speaker 1: two percent this year. Having the consumer power the recovery,
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  Speaker 1: I think that's actually very helpful. Consumers account for seventy
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  Speaker 1: percent of the US economy, so seeing households in a
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  Speaker 1: stronger physician with higher income with low were at gasline prices,
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  Speaker 1: I think that should support the economy. Payrolls grew at
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  Speaker 1: a slower but solid pace in August, while measures of
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  Speaker 1: labor slack were little changed. The Labor Department said payrolls
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  Speaker 1: climbed by a hundred and fifty one thousand last month,
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  Speaker 1: following a two hundred seventy five thousand gain in July
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  Speaker 1: that was larger than previously estimated. The unemployment rate did
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  Speaker 1: hold steady at four point nine percent, so equities climbed today,
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  Speaker 1: with the SMP five hundred indecks up nine points to
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  Speaker 1: twenty one seventy nine, a gain of four tenths of
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  Speaker 1: one percent, the down Jones Industrial Average up seventy two
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  Speaker 1: points to eighteen thousand, four hundred ninety one, a gain
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  Speaker 1: of four tenths of one percent, and Nasdaq was up
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  Speaker 1: twenty two points. Again there are four tenths of one percent.
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  Speaker 1: The tenure up nine thirty seconds with the yield of
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  Speaker 1: one point six percent. Gold also advancing today, up nine
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  Speaker 1: tenths of one percent, up twelve forty thirteen twenty six.
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  Speaker 1: Crude oil up two point four percent, up one oh
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  Speaker 1: five of barrel West Texas Intermediate crude at forty four
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  Speaker 1: twenty two. Brent crude up today by two points six percent.
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  Speaker 1: Lulu lemon Athletica shares falling the most in almost nine
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  Speaker 1: months after its forecast miss some estimates. Lulu Lemon down
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  Speaker 1: ten point six percent. Again, the SMP up nine, a
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  Speaker 1: gain of four tenths of one percent four oh two
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  Speaker 1: on Wall Street. Now, let's look at other news from
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  Speaker 1: around the world from Bloomberg Radio. Thank you, Charlie from
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  Speaker 1: the Bloomberg Newsroom. I'm Jill Schneider. Russian President Vladimir Putin
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  Speaker 1: sat down for a rare and exclusive interview with Bloomberg
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  Speaker 1: Editor in chief John michaels Waite. Speaking through an interpreter,
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  Speaker 1: Putin refused to take sides in the U s presidential race,
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  Speaker 1: in which he's been accused of secretly favoring Donald Trump.
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  Speaker 1: We will work with an administration revenue president will win
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  Speaker 1: the support of the American people if, of course, they
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  Speaker 1: want to cooperate with Russia. Putin also refuted allegations that
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  Speaker 1: the Kremlin has interfered with the presidential election. In the US,
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  Speaker 1: tropical storm Herman is now moving north, heading for the Carolinas.
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  Speaker 1: Emergency workers in Florida are assessing damage from the storm,
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  Speaker 1: which was a hurricane when it made landfall there. Governor
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  Speaker 1: Rick Scott is underscoring the dangers of lingering standing water
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  Speaker 1: because of the threat of Zica is incredibly important that
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  Speaker 1: everyone does their part to combat the Zekea virus by
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  Speaker 1: dumping standing water, no matter how small. Potential heavy rains
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  Speaker 1: from her men over the Labor Day weekend could be
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  Speaker 1: a boon for farmers upstate who have been struggling through
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  Speaker 1: the drought this summer, more than twenty five years after
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  Speaker 1: it started. Officials gathered in Bayo, New Jersey, to celebrate
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  Speaker 1: the completion of a two point one billion dollar project
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  Speaker 1: to deepen navigation channels in New York Harbor. The project
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  Speaker 1: to deepen thirty eight miles of channels to fifty feet
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  Speaker 1: started in nine Chicago Mayor Rom Emmanuel's party leader in
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  Speaker 1: the Chicago City Council, says the mayor plans to hire
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  Speaker 1: hundreds more police officers after the city's deadliest month in decades,
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  Speaker 1: But the Mayor's office says it cannot confirm that. Yesterday
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  Speaker 1: police announced there were ninety homicides in Chicago during August,
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  Speaker 1: making it the most violent single month in the city
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  Speaker 1: since August. Global News twenty four hours a day, powered
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  Speaker 1: by more than journalists and analysts in more than one countries.
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  Speaker 1: I'm soil Snyder. This is Bloomberg Charlie, and we thank
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  Speaker 1: you and again recapping an up Friday Jobs Friday with
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  Speaker 1: the S and P up nine to sev nine to
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  Speaker 1: gain there four tenths of one percent. I'm Charlie Pellett,
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  Speaker 1: and that's a Bloomberg business flash. Move around, motion, create promotion,
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  Speaker 1: up the elite, move on the move like they do.
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  Speaker 1: I've never seen anyone move that back hard people. Let's
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  Speaker 1: move luck to get a purpose. That's called movers and shakers.
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  Speaker 1: They cost a little more about that name. Cracked me up.
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  Speaker 1: Bloomberg taking stock Movers and Shakers with Pim Fox and
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  Speaker 1: Kathleen As on Bloomberg Radio. Here live with you as
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  Speaker 1: tennis open here in Flashing Meadows Corona, Part Queen's a
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  Speaker 1: lot of moving and shaking out on the tennis courts,
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  Speaker 1: and a lot of moving and shaken in the stock market. Today.
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  Speaker 1: Let's jump inside the SNP five hundred. I'd say this
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  Speaker 1: day was definitely tilted the upside with three or ninety
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  Speaker 1: six gainers, hundred six losers, three unchanged. Dave Wilson is
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  Speaker 1: back in Bluebird World headquarters to kick off movers and Shakers.
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  Speaker 1: Let's take a look at one of the best performers
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  Speaker 1: in the SNP five hundred today, and that would be Biogen.
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  Speaker 1: The drug maker's proposed treatment for early Alzheimer's disease, received
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  Speaker 1: a fast track designation from US regulators. The status may
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  Speaker 1: help accelerate approval in the drug, which is now in
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  Speaker 1: final stage trials, and that positive development led to a
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  Speaker 1: game for Biogen of two and a half percent in
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  Speaker 1: today's training. Well, Dave, I want to take a look
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  Speaker 1: at lu lu Lemon. You know how I love retailers
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  Speaker 1: of all kinds, and of course I'm ATTHIEWS Open Tennis.
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  Speaker 1: Sports is on my mind. But I'll tell you the
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  Speaker 1: definitely uh on the market's mind today. Lulu Lemon following
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  Speaker 1: the most in nine months. It's forecast missed some estimates,
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  Speaker 1: and there's a lot of concern now about slower demand
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  Speaker 1: and all this big, big competition. Lulu Lemon share price
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  Speaker 1: down ten and a percent of the closed sixty eight
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  Speaker 1: dollars and fifty seven cents. Foot Traffic was sluggish last quarter.
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  Speaker 1: Maybe people aren't going to the mall as much. Maybe
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  Speaker 1: it's that online shopping cutting into their market. Mounting competition
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  Speaker 1: not just from the internet, but in the yoga air
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  Speaker 1: market Nike, so many other rivals are pushing deeper into
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  Speaker 1: the category. John Morris, and analyst over at BMO Capital Market,
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  Speaker 1: said weak traffic trends will likely continue to weigh on
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  Speaker 1: comparable sales going into the back half. We would have
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  Speaker 1: to see traffic improve going into the holiday season before
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  Speaker 1: getting more constructive on the stock. Well, since we're talking
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  Speaker 1: athletic apparel, why not under Armor. Their chief executive Kevin Plank,
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  Speaker 1: who actually founded the company, plans to sell as many
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  Speaker 1: as two point one million shares starting in October. Plank
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  Speaker 1: answered into a rearranged stock trading plan that will be
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  Speaker 1: active for nine months. I mean he'll still have about
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  Speaker 1: thirty two million Class C shares of under Armour. These
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  Speaker 1: are non voting shares, uh if he completes all the sales. Nonetheless,
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  Speaker 1: the idea of Plank backing away from under Armour didn't
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  Speaker 1: go over so well. Under Armours Class she C shares
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  Speaker 1: and also their voting Class A shares down about three Okay,
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  Speaker 1: but I still call it the gap, Dave, it's gap.
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  Speaker 1: It's shares of gap down today. In fact that the
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  Speaker 1: clothes losing more than two and a half percent to
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  Speaker 1: twenty three dollars and nine two cents, and it's just
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  Speaker 1: all pretty much on sales. UH. Companies Comparable store sales
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  Speaker 1: for August down three percent versus a two percent drop
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  Speaker 1: a year ago. UH. If you look at GAP, you
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  Speaker 1: kent on break it down a little bit versus GAP
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  Speaker 1: in the other parts of the company comps sales down
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  Speaker 1: five percent. That compares with the decline of eight percent
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  Speaker 1: last year. But in a republic same store sales down
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  Speaker 1: ten percent, UH, compared to eleven percent decrease last year.
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  Speaker 1: Old Navy comps rose one percent a year ago, though
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  Speaker 1: the increase by six percent. Kind of a tough way
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  Speaker 1: for for GAP, isn't it? Because they had that big,
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  Speaker 1: big fire at their fish Kill distribution center the GAP
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  Speaker 1: seeing today they've activated extensive contingency plans designed to help
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  Speaker 1: mitigate the overall impact to the business, including leveraging its
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  Speaker 1: North American network network of distribution centers and ship from store.
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  Speaker 1: Capability is so important because a lot of their online
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  Speaker 1: sales come out of fish Kill. Well, let's talk about
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  Speaker 1: very assigned barely the best performer in the S and
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  Speaker 1: P five hundreds today, but the best nonetheless the Internet Registrar.
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  Speaker 1: According to Cowen probably won't face a material adverse outcome,
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  Speaker 1: in their words, on a proposed six year extension of
• 8:39
  Speaker 1: a contract will oversee dot com addresses. Cowen threw this
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  Speaker 1: conclusion from a letter that the US Justice Department sent
• 8:46
  Speaker 1: to Texas Senator Ted Cruz, who heads a committee that's
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  Speaker 1: looking into the potential extension. So the prospect of more
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  Speaker 1: business for very assigned sent that stock higher by five
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  Speaker 1: point six recent time. Now for the Volatility Index report,
• 9:03
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• 9:07
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• 9:11
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• 9:16
  Speaker 1: quite a drop in volatility today in the VIX uh
• 9:19
  Speaker 1: point and a half to eleven point nine four. This
• 9:22
  Speaker 1: is only its second drop in ten days, and in fact,
• 9:25
  Speaker 1: the VIX is coming off its biggest monthly increase in
• 9:27
  Speaker 1: a year, after surging in late August from its lowest
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  Speaker 1: level since all right, Dave, you're hi. My name is Dave.
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  Speaker 1: Just what do you think you're doing? Day? We're going
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  Speaker 1: for a bankbound wil Dave, Mr Wilson Liberty tax. What happened. Well, well,
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  Speaker 1: let's go back to the beginning with this one, Kathleen,
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  Speaker 1: I mean companies don't need to make an initial public
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  Speaker 1: offering to list their shares. And and company that skipped
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  Speaker 1: the sale as Liberty tax whose stocks started trading on
• 10:03
  Speaker 1: nazdak in June twelve. Now Liberty Taxes, headed by John Hewett,
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  Speaker 1: who co founded rival Jackson Hewitt after working at industry
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  Speaker 1: leader H and R Block, Liberty file for an IP
• 10:13
  Speaker 1: in twenty eleven and then decided against proceeding if the
• 10:16
  Speaker 1: company obtained a listening to make it easier to buy
• 10:18
  Speaker 1: and sell shares. The ticker symbol wasn't obvious choice tax
• 10:22
  Speaker 1: t a X. Liberty Tax has been up and down
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  Speaker 1: since going public. The up phase lasted through November, when
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  Speaker 1: the stock peakeda director thirty nine dollars and sixty cents.
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  Speaker 1: Then came to down phase, in which almost all of
• 10:35
  Speaker 1: the post listing gains were lost. Liberty Taxes low as
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  Speaker 1: nine dollars and nine cents reached in May. The stocks
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  Speaker 1: attempt at a recovery faltered today after fiscal first quarter
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  Speaker 1: results were released. Revenue failed to meet analysts average estamate
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  Speaker 1: to Bloomberg, survey. Now, Liberty Tax, like it Peers, doesn't
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  Speaker 1: generate a whole lot of revenue at this time of year.
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  Speaker 1: Most it comes during tax season, as you might imagine. Nonetheless,
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  Speaker 1: Liberty Tax fell as much as nine point two percent
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  Speaker 1: today in the wake of its report, before closing with
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  Speaker 1: a loss of five point two percent. The decline, even
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  Speaker 1: though it was a whole lot smaller, was still the
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  Speaker 1: steepest since April. Quick final question, Dave, sentiment, What's gonna
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  Speaker 1: happen on Tuesday? What's what's up for the rest of
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  Speaker 1: this year? Do you think? Well, at this point, it
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  Speaker 1: really is a matter of how does FED policy unfold?
• 11:31
  Speaker 1: How does earnings unfold? And we really won't get a
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  Speaker 1: hand on either of those key questions for a few weeks.
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  Speaker 1: Of course, we have the FED Policy Meeting coming up
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  Speaker 1: later this month, and then it's gonna be another month
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  Speaker 1: or so before we start getting any kind of earnings
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  Speaker 1: reports or much in the way of guidance for the SMP.
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  Speaker 1: Only a couple of companies reporting next week, alright, but
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  Speaker 1: you'll be there, That's all we need. Dave Wilson, our
• 11:56
  Speaker 1: Stocks editor. I'm Kathleen Hayes, and this is Bloomberg the
• 12:06
  Speaker 1: Tennis Channel. One of our first guests on the show
• 12:09
  Speaker 1: todays that it has been so much headed up by
• 12:11
  Speaker 1: Ken Solomon, CEO and Chairman of the board to bring
• 12:14
  Speaker 1: tennis to the masses, increased interest in the sport. Coming
• 12:17
  Speaker 1: up now on Bloomberg Radio