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

Transcript

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

• 0:03
  Speaker 1: Global business means twenty four hours a day. Bloomberg the
• 0:07
  Speaker 1: radio flash Globo Lift and on your radio's a Bloomberg
• 0:11
  Speaker 1: Business Flash from Bloomberg World Headquarters. I'm Katherine Cowdery and
• 0:15
  Speaker 1: as a closing bell sounds a don. Industrial laverage is
• 0:17
  Speaker 1: up two hundred thirty three points one point three per cent,
• 0:20
  Speaker 1: trading at seventeen thousand, nine hundred thirty. SMP five founded
• 0:24
  Speaker 1: up twenty eight points one point four percent to two
• 0:26
  Speaker 1: thousand ninety eight. Naszac hier by sixty three points one
• 0:29
  Speaker 1: point three percent, trading at forty two. Well stocks climbed,
• 0:33
  Speaker 1: helping the SMP five hundred post its third straight quarterly advance.
• 0:37
  Speaker 1: Markets are showing more signs of stabilizing after wide swings
• 0:41
  Speaker 1: in the wake of Britain's decision to leave the European Union.
• 0:44
  Speaker 1: Bank of England Governor Mark Kearney says at b O
• 0:46
  Speaker 1: eight will probably have to lose in policy within months
• 0:49
  Speaker 1: to deal with the fallout from the Brexit vote. Heard
• 0:52
  Speaker 1: live earlier on Bloomberg Radio, Karney had some reassuring words
• 0:55
  Speaker 1: at a news conference. I do want to re emphasize
• 0:58
  Speaker 1: that the bank has taken all the necessary steps to
• 1:01
  Speaker 1: prepare for these events, and we won't hesitate to take
• 1:05
  Speaker 1: any additional measures required to meet our responsibilities for the
• 1:09
  Speaker 1: United Kingdom as it moves forward. Standard and Poor's has
• 1:12
  Speaker 1: affirmed its rating on the US at double A plus
• 1:15
  Speaker 1: with the stable outlook. Earlier, it downgraded its rating on
• 1:18
  Speaker 1: the European Union to double A from double A plus.
• 1:23
  Speaker 1: West Texas Intermediate Crude is currently down a dollar forty
• 1:26
  Speaker 1: seven nearly three percent. It's rating at forty one. Spout
• 1:29
  Speaker 1: Gold down a dollar twenty and ounce at seventy ten
• 1:33
  Speaker 1: year Treasury up nine thirty seconds with a yield of
• 1:35
  Speaker 1: one point four eight percent. On link today's top business stories.
• 1:39
  Speaker 1: Hershey has snubbed a preliminary takeover offer from Mondalze International
• 1:43
  Speaker 1: for a hundred seven dollars a share in cash and stock,
• 1:46
  Speaker 1: turning down a deal that would have created the world's
• 1:48
  Speaker 1: largest candy company. The offer would have valued the company
• 1:51
  Speaker 1: at about twenty three billion dollars. It was rejected unanimously
• 1:54
  Speaker 1: by hers She's board. Her She shares it gained a
• 1:58
  Speaker 1: sixteen point eight percent today. They had been up as
• 2:00
  Speaker 1: much as but Walt Disney has apparently acquired a one
• 2:04
  Speaker 1: third stake in the video streaming unit of MLB Advanced Media,
• 2:08
  Speaker 1: A person familiar with the matters as a deal is
• 2:10
  Speaker 1: valued at about three and a half billion dollars. And
• 2:15
  Speaker 1: now let's get an update of some of the other
• 2:16
  Speaker 1: stories were following today on Bloomberg Radio. Catherine, thank you
• 2:21
  Speaker 1: from the Bloomberg News Room. I'm Mark Crumpton. Senate Minority
• 2:24
  Speaker 1: Leader Harry Reid is making another push for a compromise
• 2:27
  Speaker 1: on Zeke of funding ahead of the Senate's summer resins
• 2:31
  Speaker 1: Read calls the threat an emergency. The Republicans become sensible,
• 2:38
  Speaker 1: the zinkea virus will have no no worked on it.
• 2:42
  Speaker 1: In my age Centers for Disease Control has indicated today
• 2:47
  Speaker 1: there is no money left. There's no money left to
• 2:49
  Speaker 1: do work on Zica. Secretary of State John Kerry today
• 2:52
  Speaker 1: unveil the two thousand sixteen Trafficking in Person's Report, which
• 2:56
  Speaker 1: assesses government efforts around the world to combat human and trafficking.
• 3:02
  Speaker 1: It's stunning, It's outrageous that even today the magnitude of
• 3:07
  Speaker 1: the human trafficking challenge cannot be overstated. The US also
• 3:13
  Speaker 1: removed Thailand from its human trafficking blacklist. Tuesday's attack on
• 3:18
  Speaker 1: Istanbul's airport is expected to take an even heavier toll
• 3:22
  Speaker 1: on Turkey's already struggling tourism industry, which employs eight percent
• 3:26
  Speaker 1: of the country's workforce. Last month, arrivals in Turkey fell
• 3:30
  Speaker 1: thirty five percent from a year ago. The law firm
• 3:34
  Speaker 1: representing New Jersey Governor Chris Christie's office in the George
• 3:37
  Speaker 1: Washington Bridge Lane closing case says in a court filing
• 3:40
  Speaker 1: it returned his cell phone after responding to a government
• 3:44
  Speaker 1: subpoena that appears to contradict Christie's statement last month that
• 3:47
  Speaker 1: he gave the phone to the government and didn't know
• 3:50
  Speaker 1: who had it. Text messages made from the phone are
• 3:53
  Speaker 1: said to be relevant to the case. Global News twenty
• 3:56
  Speaker 1: four hours a day, powered by more than twenty hundred
• 3:58
  Speaker 1: journalists and analysts in more than one hundred twenty countries.
• 4:02
  Speaker 1: I'm more Crunton, this is Bloomberg, Katherine, thank you, and
• 4:07
  Speaker 1: checking those benchmarks as they begin to settle town. Industrial
• 4:09
  Speaker 1: leverage up two hundred thirty five points to seventeen thousand,
• 4:12
  Speaker 1: nine hundred twenty nine. Smp F I founded up twenty
• 4:15
  Speaker 1: eight points to two thousand and as at higher by
• 4:17
  Speaker 1: sixty three at eight forty two, Bloomberg taking stock has
• 4:22
  Speaker 1: brought to you by Sector Spider e t S. Why
• 4:23
  Speaker 1: by a single stock when you can invest in the
• 4:25
  Speaker 1: entire sector. Visit sector spdrs dot com or call one
• 4:29
  Speaker 1: eight six six Sector et F And that's a bloom purposiness.
• 4:32
  Speaker 1: Flash wove around most grade promotion. I feel earth move.
• 4:39
  Speaker 1: You moved like they do. I've never seen anyone move
• 4:41
  Speaker 1: that fast. Five people, let's move like you've got a purpose.
• 4:53
  Speaker 1: That was called movements and shakers. They cost a little more.
• 4:56
  Speaker 1: That name cracked me up. Bloomberg taking stock Movers and
• 5:06
  Speaker 1: Shakers with pim box and Kathleen Hay's on Bloomberg Radio
• 5:10
  Speaker 1: now to move higher in stocks, helped out by a
• 5:14
  Speaker 1: little less uncertainty perhaps about Brexit, but above all some
• 5:18
  Speaker 1: near certainty that the Bank of England is getting ready
• 5:20
  Speaker 1: to cut its key rate. Meeting even twice this summer.
• 5:23
  Speaker 1: That seemed to boost stocks not ow in the UK,
• 5:25
  Speaker 1: but in the US and around the world as well.
• 5:28
  Speaker 1: Let's look inside the sp five hundred. Uh certainly company
• 5:31
  Speaker 1: knock company specific on the Bank of England news, but
• 5:34
  Speaker 1: look at this four or fifty five companies saw their
• 5:37
  Speaker 1: stock prices moving higher, only forty nine stock prices closing lower,
• 5:42
  Speaker 1: one unchanged, Dave Wilson, are stocks that ares back to
• 5:44
  Speaker 1: kick off movers and shakers? Well, I gotta tell you,
• 5:48
  Speaker 1: if it wasn't an update today and there wasn't so
• 5:52
  Speaker 1: much in the way of news to kind of keep
• 5:55
  Speaker 1: people focused, it would have been really a day that
• 5:59
  Speaker 1: was all about master Card and Visa. And that bring
• 6:02
  Speaker 1: that up because you know, during the day, we found
• 6:05
  Speaker 1: out that the Federal Appeals Court rejected the credit card
• 6:09
  Speaker 1: companies five point seven billion dollars settlement of claims that
• 6:13
  Speaker 1: they improperly fixed swipe fees. Now, this was the results
• 6:17
  Speaker 1: of a lawsuit filed on behalf of twelve million US
• 6:22
  Speaker 1: merchants that you're talking about, the two biggest payment networks
• 6:26
  Speaker 1: versus the retail industry and a whoa of other companies,
• 6:29
  Speaker 1: And the merchants gained the upper hand today, MasterCard taking
• 6:35
  Speaker 1: the bigger hit down four point four percent, one of
• 6:38
  Speaker 1: today's biggest losses in the SMP five. Thesa not that
• 6:42
  Speaker 1: far behind with a three point four percent decline. Well, Dave,
• 6:46
  Speaker 1: I love this story that has helped hess Uh more
• 6:52
  Speaker 1: than it seems to have helped x On today, and
• 6:54
  Speaker 1: I'll tell you how they're linked, because ex On Mobile
• 6:57
  Speaker 1: has made this big, big oil discovery off the coast
• 7:00
  Speaker 1: of Guayana as many as one point four billion dollars,
• 7:04
  Speaker 1: twice the size of the previous estimate. Could be worth
• 7:07
  Speaker 1: as much as seventy billion dollars based on current prices.
• 7:10
  Speaker 1: I'm talking about the Liza field, a world class discovery,
• 7:13
  Speaker 1: is how it's described in our Bloomberg story by Joe Carroll.
• 7:17
  Speaker 1: And why does this help Hess? Well, because Hess is
• 7:21
  Speaker 1: a big owner in the field. Their steak equates to
• 7:26
  Speaker 1: four twenty million barrels, a thirty nine percent addition to
• 7:30
  Speaker 1: proven reserves. We see Hess up more than four percent
• 7:34
  Speaker 1: of the close UH sixty dollars and ten cents excellent
• 7:37
  Speaker 1: that was gained about a buck a shared d Let's
• 7:40
  Speaker 1: just do a quick rundown what happened to food starts today?
• 7:43
  Speaker 1: And basically what happened is that the Mandalis made an
• 7:46
  Speaker 1: offer for her She and that's really the story Hers
• 7:49
  Speaker 1: she shares up twenty one percent on the day, the
• 7:53
  Speaker 1: biggest game for the stock since at least two thousand
• 7:56
  Speaker 1: two shares trading at a record uh mom de lease
• 8:00
  Speaker 1: up almost six percent, and so was Campbell Soup. I
• 8:04
  Speaker 1: mean that, you know, the Campbell gain more reflection, just
• 8:07
  Speaker 1: broader speculation that perhaps this one deal leads to others,
• 8:12
  Speaker 1: and general Mills and Kellogg kind of felt the benefits
• 8:15
  Speaker 1: of that speculation as well as their shares rose more
• 8:19
  Speaker 1: than five a nice jump for Hurts Global Holdings today
• 8:25
  Speaker 1: up about two to eleven dollars and change after they
• 8:29
  Speaker 1: reached agreements with Uber Technologies and Lift to supply US
• 8:33
  Speaker 1: drivers with vehicles. The Lift deal is building on pilots
• 8:36
  Speaker 1: in Las Vegas and Denver, providing set rates for drivers
• 8:40
  Speaker 1: will be serviced from dedicated off airport Hurts locations. The
• 8:44
  Speaker 1: program is expanding to Los Angeles and San Francisco, with
• 8:47
  Speaker 1: more markets expected to follow. And in fact Hurts is
• 8:52
  Speaker 1: also um uh providing um discount on rentals for the
• 8:58
  Speaker 1: Las Vegas Lift drivers. So it's a good good deal there. Well,
• 9:03
  Speaker 1: I'm just gonna mention three companies really fast because they're
• 9:07
  Speaker 1: all getting together tomorrow for a news conference BMW, Intel,
• 9:12
  Speaker 1: and Mobile I. The last one maybe not so familiar. Uh.
• 9:16
  Speaker 1: There are a company based in Jerusalem that provides sensors
• 9:20
  Speaker 1: that are used in self driving cars, and analyst said
• 9:23
  Speaker 1: this event that's coming up could be a game changer
• 9:27
  Speaker 1: from Mobile Line. It certainly was for its shareholders today
• 9:30
  Speaker 1: as the stock rose almost ten percent. Time now for
• 9:34
  Speaker 1: the volatility and gut support brought to you by CBOE
• 9:36
  Speaker 1: VIX Options in Futures. Volatility can be harnessed with CBOE
• 9:40
  Speaker 1: VIX options and Futures c disclosures. Learn more at cbo
• 9:43
  Speaker 1: e dot com. Slash Powerful outcomes VIX Well. Today, the
• 9:47
  Speaker 1: VIX saw its fourth straight decline. It's the longest in
• 9:51
  Speaker 1: a month. It's pushed the VIX to a three week low,
• 9:53
  Speaker 1: down point seven to fifteen point nine four even sell
• 9:57
  Speaker 1: investors still on alert with Written and Limbo as its
• 9:59
  Speaker 1: leaders fight to see see who will succeed David Cameron
• 10:02
  Speaker 1: as Prime Minister, preventing the country from entering talks to
• 10:05
  Speaker 1: determine its future relationship with the EU. Alright, Dave, you're up?
• 10:11
  Speaker 1: H Hi, my name is Dave. Are you just what
• 10:16
  Speaker 1: do you think you're doing? We're going for the price
• 10:18
  Speaker 1: on wil today. Hey, Mr Wilson. Pier one imports new
• 10:26
  Speaker 1: fiscal year, but the same old story, the same old story.
• 10:30
  Speaker 1: Absolutely the home furnacing retailer. When it reports earnings, investors
• 10:34
  Speaker 1: have reason for dread. The company shares fell more than
• 10:38
  Speaker 1: ten percent after earnings releases five times in the last
• 10:41
  Speaker 1: three fiscal years. The disappointments largely explained why shares a
• 10:45
  Speaker 1: Peer One have plummeted as much as eighty five from
• 10:48
  Speaker 1: a peak in May twelve. They trade under the ticker
• 10:51
  Speaker 1: p i R. Late yesterday, Pier One put out results
• 10:55
  Speaker 1: for fiscal twenty seventeens first quarter comany posts. The loss
• 10:59
  Speaker 1: was wider than on this average jessement in Bloomberg survey,
• 11:02
  Speaker 1: Revenue came up short of projections, and the company no
• 11:05
  Speaker 1: longer expects a second quarter profit after lowering its forecast.
• 11:09
  Speaker 1: Jefferies Annos Daniel Binder wrote in a report that Pure
• 11:12
  Speaker 1: one needs to get costs. He sees the reductions helping
• 11:15
  Speaker 1: the company counterfalling sales and pressure from competitors. Binder has
• 11:19
  Speaker 1: a hole rating on the stock now. Pier One shares
• 11:22
  Speaker 1: dropped as much as ten percent today in response to
• 11:25
  Speaker 1: the results. In the end, though they didn't fall quite
• 11:28
  Speaker 1: as far as they had in past quarters, you had
• 11:30
  Speaker 1: a bit of a recovery. Peer One closing with a
• 11:33
  Speaker 1: loss of five and a half percent. Jave Wilson, thank
• 11:37
  Speaker 1: you so very much. He's our stocks editor here at
• 11:40
  Speaker 1: Bloomberg and you can follow on Twitter if you like
• 11:43
  Speaker 1: at the one Dave up, Next Africa, eBay moving into Africa.
• 11:49
  Speaker 1: We're going to be talking to Jake Bright. He's the
• 11:54
  Speaker 1: author of the book The Next Africa. I'm Kathleen Hayes,
• 11:57
  Speaker 1: my cost pim Boxes on vacation. This is taking stock,
• 12:01
  Speaker 1: this is Bloomberg moving into Africa. The text seeing a
• 12:09
  Speaker 1: big starter for this region. Jake Bright is an expert
• 12:12
  Speaker 1: who has written a best selling book about this. He's
• 12:15
  Speaker 1: joining us on Bloomberg