Latest / Bloomberg Intelligence / Bloomberg's Ciolli on Winners, Losers, Stock of the Day (Audio)

Transcript

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

• 0:02
  Speaker 1: Global business news twenty four hours a day at Bloomberg
• 0:05
  Speaker 1: dot com, the Radio plus mobile and on your radio.
• 0:09
  Speaker 1: This is a Bloomberg Business flag on Bloomberg World Headquarters.
• 0:13
  Speaker 1: I'm Charlie Pellett, folks from Chief Executive Group, ringing that
• 0:16
  Speaker 1: closing bell, and we are brought to you by Withem
• 0:19
  Speaker 1: Smith and Brown CPAs AUNT at Tax and Advisory Services.
• 0:23
  Speaker 1: To help your business be in a position of strength,
• 0:27
  Speaker 1: experience the withythem way by visiting withythem dot com. The
• 0:32
  Speaker 1: Dow Jones Industrial Average down seventy seven points to drop
• 0:35
  Speaker 1: of four tenths of one percent, stocks retreating from records
• 0:39
  Speaker 1: at the worst level of the session. The DAL have
• 0:41
  Speaker 1: been down as many as one hundred eighteen points. A
• 0:44
  Speaker 1: tumble in the price of crude oil sinking energy shares
• 0:47
  Speaker 1: today West Texas Intermediate now at forty three oh seven
• 0:51
  Speaker 1: to barrel, down a dollar twelve, that is a drop
• 0:54
  Speaker 1: of two and a half percent. Brent crude lower today
• 0:57
  Speaker 1: by two point two percent, forty four sixty at a
• 0:59
  Speaker 1: barrel gold down thirteen, a drop of seven tenths of
• 1:04
  Speaker 1: one percent. Verizon Communications buying Yahoo's web assets for four
• 1:10
  Speaker 1: point eight three billion dollars ending the company's two decade
• 1:14
  Speaker 1: run as an independent business. Colin Gillis is senior tech
• 1:18
  Speaker 1: analysts that b GC Partners. He was our guests this
• 1:21
  Speaker 1: afternoon right here on taking Stock. Well, you know, it's
• 1:23
  Speaker 1: out with a whimper, uh, and it will become folded
• 1:27
  Speaker 1: into Verizon. They suggested that the transaction will close in
• 1:31
  Speaker 1: the beginning of next year, and we'll see what happens
• 1:35
  Speaker 1: to the brand name itself. But Verizon is interested in
• 1:39
  Speaker 1: the piping, the ad technology that powers Yahoo as they
• 1:44
  Speaker 1: seek to get more into advertising, expand some of their
• 1:48
  Speaker 1: video offerings to become more than just a carrier that
• 1:51
  Speaker 1: competes on data and pricing. And Yahoo shares down two
• 1:54
  Speaker 1: points seven percent, Verizon down four tenths of one percent.
• 1:58
  Speaker 1: Sprint surging today eight up twenty seven point eight percent
• 2:02
  Speaker 1: as it had a sixth straight quarter of subscriber to gains.
• 2:07
  Speaker 1: SMP down six drop a point three the Dow down
• 2:11
  Speaker 1: a drop there of point four percent, four oh two
• 2:14
  Speaker 1: on Wall Street. Now, let's take a look at other
• 2:16
  Speaker 1: news from around the world on Bloomberg Radio. Thank you,
• 2:20
  Speaker 1: Charlie from the Bloomberg Newsroom. I'm Matt Miller. The FBI
• 2:23
  Speaker 1: is now investigating the League. Of those emails from the
• 2:26
  Speaker 1: Democratic National Committee, the League led to the resignation of
• 2:29
  Speaker 1: national Chairwoman Debbie Wasserman Schultz. Email showed that the committee
• 2:34
  Speaker 1: members favored Hillary Clinton and tried to undermine Bernie Sanders.
• 2:38
  Speaker 1: A cybersecurity firm that looked into the breach found traces
• 2:41
  Speaker 1: of hacking groups with ties to the Russian government. The
• 2:44
  Speaker 1: Democratic National Convention kicks off tonight in Philadelphia. Bloomberg Washington
• 2:49
  Speaker 1: Bureau chief Megan Murphy says the news that d n
• 2:52
  Speaker 1: C Chair Wasserman Schultz is resigning could loom large. It
• 2:56
  Speaker 1: does seem like something that wouldn't seem like it's a
• 2:59
  Speaker 1: wider entr us. But to have the chair of the
• 3:01
  Speaker 1: party's committee resigned on the even of the convention is
• 3:05
  Speaker 1: drama like we haven't seen it one of these conventions
• 3:07
  Speaker 1: in many years. It looks like the Democrats are going
• 3:10
  Speaker 1: to rival the Republicans for convention. Actually, that's full of news.
• 3:14
  Speaker 1: Baltimore Mayor Stephanie Rawlings Blake will gabble in the full
• 3:18
  Speaker 1: convention in place of the outgoing Wasserman Schultz. Meanwhile, a
• 3:22
  Speaker 1: new pole indicates Donald Trump got a post convention bounce.
• 3:25
  Speaker 1: The CNN O r C national survey has Trump leading
• 3:29
  Speaker 1: Hillary Clinton to thirty and Bill Braddon says he will
• 3:34
  Speaker 1: not remain commissioner of the New York City Police Department
• 3:37
  Speaker 1: past two thousand seventeen. An interview with The New York Times,
• 3:40
  Speaker 1: Bratton also left open the possibility that he could leave sooner.
• 3:44
  Speaker 1: Bratton is in his second stint as New York commissioner.
• 3:47
  Speaker 1: He led the department in the nineties and began serving
• 3:49
  Speaker 1: as Mayor Bill de Blasio's police commissioner in two thousand fourteen.
• 3:54
  Speaker 1: Global News twenty four hours a day, powered by over
• 3:57
  Speaker 1: journalists and analysts and more than one twenty countries. I'm
• 4:00
  Speaker 1: Matt Miller. This is Bloomberg, Charlie, and we thank you,
• 4:06
  Speaker 1: and again recapping the DAL the SMP NEZ stack all moving,
• 4:09
  Speaker 1: Laura in this Monday session SMP five hundred index down
• 4:13
  Speaker 1: six drop there of three tenths of one percent. I'm
• 4:17
  Speaker 1: Charlie Pellett and that's a Bloomberg business flash. Move around
• 4:22
  Speaker 1: most and create promotion app the elite move. Can you
• 4:27
  Speaker 1: move like they do? I've never seen anyone move that
• 4:30
  Speaker 1: fast hard people. Let's move like to get a purpose
• 4:41
  Speaker 1: he's called movers and shakers. They cost a little more
• 4:43
  Speaker 1: about that name. Cracked me up. Bloomberg taking stock Movers
• 4:53
  Speaker 1: and Shakers with Pim Fox and Kathleen As on Bloomberg Radio.
• 4:58
  Speaker 1: So we have modest climbs across the board and the
• 5:00
  Speaker 1: major market indexes on this Monday, we had two eight gainers,
• 5:04
  Speaker 1: two nine losers, eight stocks closing unchanged in the SP
• 5:08
  Speaker 1: five hundred. Joe Staley is back Bloomberg Stocks Reporter to
• 5:11
  Speaker 1: kick offf movers and shakers. First up, we have Roper Technologies.
• 5:15
  Speaker 1: This is the Sarasota, Florida based manufacture of industrial equipment.
• 5:20
  Speaker 1: They had quarterly earnings that fell short of analyst estimates
• 5:23
  Speaker 1: and uh is actually it's it's worst mis ever and
• 5:26
  Speaker 1: it's kind of out of the ordinary for this company.
• 5:28
  Speaker 1: It's just, uh, you know, the second time in the
• 5:30
  Speaker 1: last eleven periods they've they've missed analysts estimates. So something
• 5:34
  Speaker 1: being negatively digested by investors. Stock is down six. I'm
• 5:39
  Speaker 1: gonna tell you about the shares a Sprint up more
• 5:42
  Speaker 1: than twenty seven and a half percent, Yes, twenty seven
• 5:46
  Speaker 1: and a half percent gain for Sprint five dollars nine
• 5:49
  Speaker 1: cent shares of Sprint. They reverse to all of last
• 5:51
  Speaker 1: week's slide, mainly because of the quarterly earnings release. It
• 5:56
  Speaker 1: completely took Wall Street by surprise. There was a key number,
• 5:59
  Speaker 1: hundred and seven three thousand. That was how many net
• 6:02
  Speaker 1: post paid phone subscribers. This is the most profitable type
• 6:06
  Speaker 1: of customer. This is the customer that all cell phone
• 6:10
  Speaker 1: operators are looking for. Sprint added a hundred and seventy
• 6:13
  Speaker 1: three thousand of them during the quarter, and that's surprised
• 6:17
  Speaker 1: Wall Street as well as investors. Shares up more than
• 6:21
  Speaker 1: twenty seven and a half percent. Oh that's a that's
• 6:24
  Speaker 1: a nice move. Well, you know, but the retailers aren't
• 6:26
  Speaker 1: doing too well, too poorly. Today the SNPF hundred apparel
• 6:30
  Speaker 1: retail index hitting its highest intra day since April, versus
• 6:35
  Speaker 1: the SMP composite index excuse me, compositis down as much
• 6:40
  Speaker 1: as zero point six percent. What is going on for
• 6:43
  Speaker 1: one Urban Outfitters? They had their price target increased At
• 6:47
  Speaker 1: Deutsche Bank. They were saying that they maintained their hold,
• 6:52
  Speaker 1: but they up their second quarter estimate to fifty six
• 6:56
  Speaker 1: cents from fifty one cents. And in fact they see
• 6:59
  Speaker 1: upside risks on the stocks, including acceleration in top line
• 7:03
  Speaker 1: trends and UH. Meanwhile, Cohen pointed out that the decline
• 7:07
  Speaker 1: in sales for July are only two point one percent,
• 7:13
  Speaker 1: and that was better than June's three percent decline and
• 7:15
  Speaker 1: May six point four percent. So if you look at
• 7:18
  Speaker 1: urban outfitters up sharply nearly three percent, but also Macy's, Nords, Drums,
• 7:24
  Speaker 1: the whole whole sector has been lifted to day Joe
• 7:28
  Speaker 1: great and UH. And next we have ever Bank Financial Corp. Uh.
• 7:31
  Speaker 1: This is the the largest Florida bank, Florida based bank.
• 7:34
  Speaker 1: It's up about today. UH. It's receiving sale interests UM
• 7:40
  Speaker 1: from a potential suitor. It's been working with ubs to
• 7:43
  Speaker 1: solicit offers from potential buyers and UM. And really what
• 7:47
  Speaker 1: we're seeing here is this this effect of of UM,
• 7:51
  Speaker 1: I guess acquisition interests goosing a stock price up a
• 7:54
  Speaker 1: little bit. Maybe people trying to get ahead of any
• 7:57
  Speaker 1: sort of announcement that maybe forthcoming pricing to the market. Uh.
• 8:01
  Speaker 1: Like I said about and that news was broken by
• 8:04
  Speaker 1: our own Matthew Monks. Let's talk about the shares a
• 8:06
  Speaker 1: Pandora media talking about potential emergency acquisitions at the stock
• 8:11
  Speaker 1: of Pandora Media up five and a half percent today.
• 8:14
  Speaker 1: They have hired Center View Partners to advise on what
• 8:18
  Speaker 1: they called strategic options, and are trying to make nice
• 8:22
  Speaker 1: with activist investor Corvex Management LP. This all according to
• 8:27
  Speaker 1: people familiar with the matter. Corvex is the hedge fund
• 8:29
  Speaker 1: is run by Keith Meister. They disclosed a nine point
• 8:32
  Speaker 1: nine percent stake in Pandora in May and they have
• 8:36
  Speaker 1: been pushing the company to explore a sale once again.
• 8:39
  Speaker 1: Shares a Pandora Media up five and a half percent. Well,
• 8:43
  Speaker 1: a nice move up for Micron Technology, the largest US
• 8:48
  Speaker 1: memory chip maker, up as much as nine percent in
• 8:51
  Speaker 1: fact at the close now up six percent, so off
• 8:55
  Speaker 1: the highs. But it took steps to make a takeover
• 8:58
  Speaker 1: more difficult. It's myke Its board of directors adopted a
• 9:01
  Speaker 1: poison pill. Of course, this is a rights issues that
• 9:04
  Speaker 1: would be triggered if an individual or group acquires four
• 9:08
  Speaker 1: point more of the company's out standing stock, and this
• 9:13
  Speaker 1: has rekindled speculation that the company could be a takeover
• 9:18
  Speaker 1: target and acquire from China or Intel, which has a
• 9:21
  Speaker 1: joint venture with my Con, would be the most likely buyers.
• 9:25
  Speaker 1: According to our Bloomberg story and offer from either wouldn't
• 9:28
  Speaker 1: be straightforward and is unlikely to happen anytime soon, according
• 9:31
  Speaker 1: to Colin and Company. Well, I'll tell you about the
• 9:35
  Speaker 1: shares of GILLIAD. They are down one and a half
• 9:38
  Speaker 1: percent and after hours trading has comes after the company
• 9:41
  Speaker 1: reports second quarter results that exceeded analysts estimates are earnings
• 9:45
  Speaker 1: per share of three dollars and eight cents versus estimates
• 9:49
  Speaker 1: of three dollars and two cents. We'll be watching more
• 9:53
  Speaker 1: for details of a gilly and also will be getting
• 9:55
  Speaker 1: results from Las Vegas Sands, Express Scripts and Texas Instruments.
• 10:00
  Speaker 1: All right, it's time now for the Volatility Index Report.
• 10:03
  Speaker 1: It is brought to you by cbo E vis Options
• 10:05
  Speaker 1: and Futures. Volatility can be harnessed with cbo VIX Options
• 10:08
  Speaker 1: and Futures SE disclosures. Learn more at cbo e dot
• 10:13
  Speaker 1: com Slash Powerful Outcomes VIX. Now, the VIX moved higher today.
• 10:17
  Speaker 1: It was up more than eight and a half percent.
• 10:22
  Speaker 1: The VIX higher by one point oh three. It's settled
• 10:24
  Speaker 1: at thirteen point oh five. And I'm gonna be taking
• 10:28
  Speaker 1: a line from Randy Frederick, who is the managing director
• 10:31
  Speaker 1: of Trading and Derivatives at the Schwab Center for Financial Research.
• 10:35
  Speaker 1: He was speaking with Carol Masser earlier today on Bloomberg Radio,
• 10:40
  Speaker 1: and he was talking about how the decline that happened
• 10:42
  Speaker 1: in the VIX today following the twelve noon period bodes
• 10:47
  Speaker 1: well for a bounce in the SMP five hundred tomorrow.
• 10:55
  Speaker 1: The Beatles can't buy Me Love and that applies to
• 10:58
  Speaker 1: Josie's stock of the day as well. Yeah. So, um,
• 11:02
  Speaker 1: this is the Trade Financial What they did is that
• 11:04
  Speaker 1: they bought for seven five million dollars in cash. Uh.
• 11:08
  Speaker 1: This company Aperture New Holdings, Inc. Otherwise known as the
• 11:12
  Speaker 1: parent of Options House, which is the Chicago based options brokerage.
• 11:16
  Speaker 1: And um, what we're seeing here is uh, the company
• 11:19
  Speaker 1: most well known for its talking baby at campaign. Uh,
• 11:22
  Speaker 1: you know, going for the derivatives investor, you know, people
• 11:25
  Speaker 1: that might want to dabble in some some easy trading
• 11:29
  Speaker 1: of of options and derivative contracts. And um, what what
• 11:32
  Speaker 1: it does is it expands, Um that subscriber base for
• 11:36
  Speaker 1: the Trade Options House before the acquisition had about a
• 11:39
  Speaker 1: hundred fifty thousand customer accounts with over three billion dollars
• 11:43
  Speaker 1: in customer assets. So looking for a little synergy there.
• 11:46
  Speaker 1: Thanks very much Bloomberg Stocks reporter giving us his stock
• 11:52
  Speaker 1: of the day. This is taking stock. I'm pimpox my
• 11:55
  Speaker 1: co host, Kathleen Hayes. This is Bloomberg Lumber. Taking Stock
• 12:07
  Speaker 1: is brought to you by New York Community Bank. Asked
• 12:09
  Speaker 1: about their my community interest checking with free New York
• 12:11
  Speaker 1: Community Bank online and mobile banking. Earn more, get more
• 12:15
  Speaker 1: of Visit my NYCB dot com for details.