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 news twenty four hours a day. If Bloomberg
• 0:06
  Speaker 1: dot Com so the radio plus mobile left and on
• 0:09
  Speaker 1: your radio. This is a Bloomberg Business Flash from Bloomberg
• 0:13
  Speaker 1: World Headquarters. I'm Charlie Pellett's sound of the closing develop
• 0:16
  Speaker 1: the New York Stock Exchange as we wrap up trading
• 0:18
  Speaker 1: on this Friday, May twentie, Yes, an up week for
• 0:21
  Speaker 1: the SMP five index, and we are brought to you
• 0:24
  Speaker 1: by Sector Spider et F S. Why by a single
• 0:27
  Speaker 1: stock when you can invest in the entire sector? Visit
• 0:30
  Speaker 1: Sector spd r s dot com or call Sector e
• 0:35
  Speaker 1: t F. The SMP five hundred rebounding from a seven
• 0:39
  Speaker 1: week low, led by a rally in tech shares amid
• 0:43
  Speaker 1: easing anxiety over the potential for higher interest rates as
• 0:46
  Speaker 1: early as next month. Applied Materials searging thirteen percent today
• 0:51
  Speaker 1: after forecasting sales that may beat analysts estimates, spurring gains
• 0:55
  Speaker 1: among technology companies. Applied up thirteen point eight one percent,
• 0:59
  Speaker 1: Chip a Kers jumping the most in February, with Intel
• 1:02
  Speaker 1: moving higher today. Intel up by one point eight percent,
• 1:06
  Speaker 1: Apple increasing by nine a one point one percent today
• 1:11
  Speaker 1: on the way to its first weekly advance in five,
• 1:15
  Speaker 1: Deer and Company dropping five and a half percent today,
• 1:18
  Speaker 1: down four fifty one to seventy seven dollars seventy four
• 1:21
  Speaker 1: since the world's biggest farm equipment manufacturer, lowing a lowering
• 1:25
  Speaker 1: its fiscal full year profit outlook on projections for reduced
• 1:29
  Speaker 1: sales of tractors and combines as farmers space a decline
• 1:33
  Speaker 1: in income. Carol Uglhard is with Bloomberg Intelligence. She was
• 1:37
  Speaker 1: our guest today right here on taking stock. Construction equipment
• 1:41
  Speaker 1: have been weak. Uh, they have largely North American exposure. UM.
• 1:45
  Speaker 1: The pricing was a lot worse there and they indicated
• 1:48
  Speaker 1: that big competitors were discounting more than expected and shaded
• 1:53
  Speaker 1: that it wasn't necessarily the Japanese. So that's probably um
• 1:56
  Speaker 1: capill It, which is the biggest construction equipment producer. Footlock
• 2:00
  Speaker 1: here posted first quarter results that suggests the US consumer
• 2:03
  Speaker 1: melas maybe spreading to the athletic gear market. Foot Locker
• 2:06
  Speaker 1: down six and a half percent, Gold down one seventy,
• 2:09
  Speaker 1: the ounce to drop a point one percent, SMP up
• 2:12
  Speaker 1: twelve a game of point six percent, the Dow up
• 2:15
  Speaker 1: by four tenths of one percent four oh two on
• 2:17
  Speaker 1: Wall Street now a look at the other news. Charlie.
• 2:20
  Speaker 1: Thank you from the Bloomberg news Room by Mark Crumpton
• 2:23
  Speaker 1: at its convention in Louisville, Kentucky. The National Rifle Association
• 2:27
  Speaker 1: today endorsed Donald Trump for president. In two thousand, Trump
• 2:31
  Speaker 1: was among those calling for an assault weapons ban. Today
• 2:35
  Speaker 1: he had this message, I will not let you down.
• 2:38
  Speaker 1: Remember that, I will not let you do. The n
• 2:42
  Speaker 1: r A CEO Wayne Lapierre accused Democrats of using super
• 2:46
  Speaker 1: delegates to rig the system. It's a dirty inside game.
• 2:51
  Speaker 1: It's a corrupt system, but no one should be surprised
• 2:55
  Speaker 1: corruption as followed Hillary Clinton almost her entire three. European
• 3:01
  Speaker 1: security officials say the passenger list for egypt Air flight
• 3:05
  Speaker 1: eight oh four contains no known names on current terror
• 3:08
  Speaker 1: watch lists. The plane was carrying sixties six people from
• 3:11
  Speaker 1: Paris to Cairo Thursday, when it's believed to have crashed
• 3:15
  Speaker 1: in the Mediterranean Sea. The head of the Transportation Security
• 3:18
  Speaker 1: Administration says he's hiring more staffers and adding knine units
• 3:23
  Speaker 1: in an effort to get airline passengers moving faster through
• 3:26
  Speaker 1: those long security lines. But Administrator Paul Neffinger says the
• 3:30
  Speaker 1: agency still hasn't recovered from years a budget cutbacks. I
• 3:34
  Speaker 1: think this summer is going to continue to be a challenge.
• 3:36
  Speaker 1: That we've got passenger growth. I'm not I've haven't grown
• 3:39
  Speaker 1: back as much staff as I need, but we're I
• 3:41
  Speaker 1: think we're doing everything we can to mitigate that at
• 3:43
  Speaker 1: the largest airports. The state sentates looking into whether New
• 3:47
  Speaker 1: York City has planned five cent fee on plastic bags
• 3:50
  Speaker 1: will be a burden on consumers. The fee is expected
• 3:53
  Speaker 1: to go into effect in the fall. Global News twenty
• 3:56
  Speaker 1: four hours a day, powered by our journalists in more
• 3:59
  Speaker 1: than one hundred fifty news bureaus around the world. From
• 4:02
  Speaker 1: the Bloomberg News Room, I'm Mark Crompton, Charlie, and we
• 4:05
  Speaker 1: thank you and again updating you on the story involving
• 4:09
  Speaker 1: the White House that is now on a security alert
• 4:11
  Speaker 1: after US shooting at a street outside Park. Police say
• 4:15
  Speaker 1: the shooting happened on West Executive Drive this afternoon. District
• 4:19
  Speaker 1: of Columbia Fire and E m S spokesman Doug Buchanan
• 4:23
  Speaker 1: says one patient taken to a nearby hospital in critical condition.
• 4:26
  Speaker 1: President Obama not at the White House today, again recapping it.
• 4:30
  Speaker 1: Update for the tale the SMP and Nestak SMP advancing
• 4:34
  Speaker 1: twelve points to two thousand fifty two to end the
• 4:37
  Speaker 1: week and head into the weekend with a gain of
• 4:40
  Speaker 1: six tenths of one percent. I'm Charlie Pellett. That's a
• 4:42
  Speaker 1: Bloomberg business flash over most and create promotion. I've never
• 4:52
  Speaker 1: seen anyone move that fast. Pelet's move to get a purpose.
• 5:04
  Speaker 1: Something's called movers and shakers. It costs a little movement,
• 5:07
  Speaker 1: and that name cracked me up. Bloomberg taking stock movers
• 5:16
  Speaker 1: and shakers with pim Fox and Kathleen As on Bloomberg Radio.
• 5:21
  Speaker 1: Stocks higher across the board today, led by one point
• 5:24
  Speaker 1: two percent, gaining the nastack applied material shares the big
• 5:27
  Speaker 1: leader there uh SMPF five hundred, showing that this was
• 5:32
  Speaker 1: a pretty solid move up in stocks today because you
• 5:36
  Speaker 1: had four to nine issues moving higher, only nine four
• 5:39
  Speaker 1: down to unchanged. Dave Wilson are stocks that are is
• 5:43
  Speaker 1: back to kick off with one of his favorite movers
• 5:46
  Speaker 1: and shakers. I just want to mention a headline that
• 5:48
  Speaker 1: just moved. Actually Freeport mcmurran. You know they're in the copper,
• 5:52
  Speaker 1: gold and energy business. They had been talking about an
• 5:55
  Speaker 1: initial public offering of their oil and gas unit as
• 5:58
  Speaker 1: one way to help raise money in response to falling
• 6:02
  Speaker 1: commodity price as well. Headline just came out that Freeport
• 6:06
  Speaker 1: Mcmaran Oil and Gas has withdrawn the potential I p
• 6:11
  Speaker 1: O initial public offerings, So that's not going to happen. Uh,
• 6:15
  Speaker 1: And we're seeing Freeports shares fallen late trading in response
• 6:19
  Speaker 1: to the news. At the moment, the stock down at
• 6:22
  Speaker 1: about one percent uh ten dollars nine three cents the
• 6:26
  Speaker 1: latest trade, Freeport closing at eleven o eight in today's session.
• 6:32
  Speaker 1: Let me tell you about the shares of McDonald's down
• 6:35
  Speaker 1: today by more than two percent. A variety of stocks
• 6:39
  Speaker 1: moving lower basically because of a note from bt I
• 6:43
  Speaker 1: g S technical analyst Katie Stockton having to do with
• 6:47
  Speaker 1: what are called demark cell signals. Describes these SMP fives
• 6:53
  Speaker 1: and showing signs of intermediate term upside exhaustion, and McDonald's
• 6:59
  Speaker 1: was one of those. At McDonald's shares down today. Well,
• 7:03
  Speaker 1: I want to take a look at Dick's Dick's Sporting Goods.
• 7:06
  Speaker 1: It's up more than five percent of the close forty
• 7:09
  Speaker 1: three dollars and changes the share price, and that's because
• 7:15
  Speaker 1: their stock rating was raised to buy from neutral. At
• 7:17
  Speaker 1: Goldman Sacks, analysts also raised their price target to fifty
• 7:21
  Speaker 1: three dollars from fifty bucks. They say that Dix is
• 7:24
  Speaker 1: expected to benefit from the bankruptcy of its largest competitor,
• 7:28
  Speaker 1: Sports Authority, set to close most of its stores by
• 7:31
  Speaker 1: the end of August. Here's what they write, d k
• 7:34
  Speaker 1: seems position to gain share. Thirty seven percent of its
• 7:37
  Speaker 1: stores have at least one Sport Authority stores within ten miles.
• 7:42
  Speaker 1: So a big move up for Dicks today PIM or Dave,
• 7:45
  Speaker 1: and that was on top of an eight and a
• 7:47
  Speaker 1: half percent gain yesterday after Dicks came out with ernies.
• 7:50
  Speaker 1: I'll tell you though, dear can only wish for that
• 7:53
  Speaker 1: kind of a performance. Uh. They came out with their
• 7:56
  Speaker 1: results and their forecast did not go over so well. Specifically,
• 8:01
  Speaker 1: the world's biggest maker of farmer equipment cut its fiscal
• 8:04
  Speaker 1: year profit forecast in response to falling crop prices. Less
• 8:08
  Speaker 1: farm income, farmers can't go out and buy as many
• 8:11
  Speaker 1: tractors and combines, and now they're looking at earnings at
• 8:14
  Speaker 1: one point two billion dollars for the year as opposed
• 8:17
  Speaker 1: to one point three billion. That certainly didn't sit well
• 8:21
  Speaker 1: with investors. You saw shares of Deer fall five and
• 8:24
  Speaker 1: a half percent in today's trading. Can I say that
• 8:27
  Speaker 1: Campbell Soup shares are in the soup slump? Well, Campbell
• 8:31
  Speaker 1: shares slipping after the company posted its sixth straight quarter
• 8:35
  Speaker 1: of falling sales. Now, they did report earnings that narrowly
• 8:39
  Speaker 1: exceeded Wall Street estimates. They also increased their outlook for
• 8:43
  Speaker 1: the year despite week organic sales in the last quarter. Nevertheless,
• 8:49
  Speaker 1: shares of Campbell Soup down today by more than six percent.
• 8:53
  Speaker 1: I just want to call attention to terminal users, in
• 8:56
  Speaker 1: particular to foot lock Or. One of our chart of
• 8:59
  Speaker 1: the hours out today from our own Kevin Orland, is
• 9:02
  Speaker 1: about foot Locker. It shows that foot Locker posted the
• 9:06
  Speaker 1: smallest same store sales game in more than two years
• 9:09
  Speaker 1: in its first quarter results reported today, suggesting the recent
• 9:12
  Speaker 1: US consumer relaise may be spreading to the athletic gear market.
• 9:17
  Speaker 1: Foot Locker as a result, closing down nearly six and
• 9:20
  Speaker 1: a half percent today. Time now for the Volatility Index report.
• 9:23
  Speaker 1: It is brought to you by cbo E Vix Options
• 9:25
  Speaker 1: and Futures. Volatility can be harnessed with cbo E VIX
• 9:29
  Speaker 1: Options and Futures c disclosures. Learn more at CBOE dot
• 9:32
  Speaker 1: com Slash Powerful Outcomes VIX. The VIX lower today down
• 9:37
  Speaker 1: nearly six percent, down point nine, settling at fifteen point
• 9:42
  Speaker 1: a thirty four, and the VIX has climbed about twenty
• 9:46
  Speaker 1: five through yesterday, beating similar indexes of other asset classes,
• 9:51
  Speaker 1: but while it is still much lower than the previous peaks,
• 9:54
  Speaker 1: the VIX average this year is the highest since twenty eleven.
• 10:00
  Speaker 1: All right, Dave, you're up. Uh hi, my name is Dave.
• 10:06
  Speaker 1: Just what do you think you're doing? We're going for
• 10:08
  Speaker 1: the day, Mr Wilson. Keysite Technology is a spinoff of
• 10:18
  Speaker 1: a spinoff. That's it. I mean. Key Site is a
• 10:20
  Speaker 1: provider of electronic measurement services that was separated from Agilant
• 10:25
  Speaker 1: Technologies in November, and Agilant was spun off by Hewett
• 10:30
  Speaker 1: Packard back in two thousands, so indeed, a spinoff of
• 10:33
  Speaker 1: a spinoff. Key Site trades under the ticker keys k
• 10:37
  Speaker 1: e y S. The shares trade at thirty one fifty
• 10:40
  Speaker 1: just before the spinoff was completed. Since then, they've swung
• 10:43
  Speaker 1: between thirty eight ninety nine and twenty one oh seven.
• 10:47
  Speaker 1: The low was reached on February eleven, when the SMP
• 10:50
  Speaker 1: five hundred also hit bottom for the year. UH. Key
• 10:53
  Speaker 1: Site has rebounded since then, and the rally accelerated today
• 10:57
  Speaker 1: after the lead release of the of these latest results.
• 11:01
  Speaker 1: Late yesterday, Keysite posted phiscal second quarter adjusted profit of
• 11:04
  Speaker 1: sixty one as a share that's five cents higher than
• 11:07
  Speaker 1: analysts average estmate new Bloomberg survey. Revenue also beat projections,
• 11:12
  Speaker 1: and so did the company's third quarter sales forecast. The
• 11:16
  Speaker 1: results sent shares of key Site to a gain of
• 11:20
  Speaker 1: fifteen percent, and when you put that in context, you
• 11:24
  Speaker 1: see it is the biggest one day advanced for the
• 11:26
  Speaker 1: stock since the company gained independence. And by the way,
• 11:30
  Speaker 1: the surge pushed the shares higher for the year as well. Uh.
• 11:33
  Speaker 1: Not quite so much for game though, just a five
• 11:36
  Speaker 1: point seven percent for sixteen. Thank you very much. Dave Wilson,
• 11:41
  Speaker 1: Bloomberg Stocks columnist, our resident musicologist. Go ahead sign up
• 11:45
  Speaker 1: for his daily email newsletter. Just send him an email
• 11:48
  Speaker 1: at d Wilson at Bloomberg dot net. It is free
• 11:53
  Speaker 1: and it will make you a smarter investor. You're listening
• 11:56
  Speaker 1: to taking Stock. I'm pim Fox my co host Kathleen Hayes.
• 11:59
  Speaker 1: This is Bloomberg Radio, Bloomber Taking Stock is brought to
• 12:06
  Speaker 1: you by wither Smith and Brown c P, a s
• 12:08
  Speaker 1: out of tax advisory services. To help your business be
• 12:11
  Speaker 1: in a position of strength, experience the with um Way
• 12:14
  Speaker 1: by visiting with them dot com