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

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  Speaker 1: Glombo Business News twenty four hours a day at Bloomberg
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  Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters.
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  Speaker 1: I'm Charlie Folks from Vanek ringing that closing balt of
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  Speaker 1: the New York Stock Exchange, the DAL, the SMP, MAZDAC
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  Speaker 1: all closing at or near their best level of the day.
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  Speaker 1: SMP five hundred index rising the most in four weeks,
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  Speaker 1: joining in equity market gains from Japan to Europe. Energy producers,
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  Speaker 1: industrial shares and banks were among the strongest contributors to
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  Speaker 1: today's rally. Matt Mayley is equity strategist at Millerity Bank
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  Speaker 1: in Boston. He was interviewed moments ago right here on
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  Speaker 1: taking stock. The one group that has is defensive that
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  Speaker 1: hasn't done as well. It's started to do better finally,
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  Speaker 1: but hasn't done as well as a defensive play in
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  Speaker 1: the last year or so. Is it is the healthcare stocks?
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  Speaker 1: Of course, the problem is, as we've learned very much,
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  Speaker 1: you can't just go in annual healthcare stock anymore. The
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  Speaker 1: town owns Industrial average up two hundred twenty two points,
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  Speaker 1: a gain of one point three percent. Has some P
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  Speaker 1: five hundred index up twenty five again also of one
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  Speaker 1: point three percent, NASA stand up fifty nine back to
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  Speaker 1: a gain of one point three percent. We are awaiting
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  Speaker 1: the latest numbers out of the Walt Disney Company. Paul
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  Speaker 1: Sweeney as director of North American Research at Bloomberg Intelligence.
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  Speaker 1: He was interviewed right here on taking stock. Well, I
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  Speaker 1: think investors are certainly going to focus on the ESPN
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  Speaker 1: numbers principal, because you know, last summer the company really
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  Speaker 1: took the market by surprise by disclosing that ESPN had
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  Speaker 1: been losing subscribers um and that was going to impact, uh,
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  Speaker 1: they're anticipated growth in profits coming out of the cable
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  Speaker 1: network business. That was a real shock, uh two investors.
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  Speaker 1: We had not seen that really and ever really for
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  Speaker 1: the in the history of Disney. And Disney shares up
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  Speaker 1: today by one point two percent. We are on Disney Watch.
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  Speaker 1: We'll get to those those numbers to you as they
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  Speaker 1: become available. Lumber Liquidators tumbling today after reporting first quarter
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  Speaker 1: results that were weak than expected. L l on the
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  Speaker 1: ticker down seven point nine percent. Gap shares plunging today
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  Speaker 1: by eleven point five percent after the apparel chain posted
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  Speaker 1: disappointing results gold of a dollar fifty a gain of
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  Speaker 1: point one percent four oh two on Wall Street. Now
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  Speaker 1: we'll look at other news from around the world. A
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  Speaker 1: Bloomberg Radio Charlie. Thank you from the Bloomberg news Room
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  Speaker 1: by Mark Crumpton. Former Republican presidential candidate Marco Rubio today
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  Speaker 1: addressed a round table on the crisis in the Middle East.
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  Speaker 1: He took a swipe at Donald Trump's NATO policy. It's
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  Speaker 1: a lot easier to say, for example, you know, let's
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  Speaker 1: not why why do we give why do we give
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  Speaker 1: all this money to NATO and these other people that
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  Speaker 1: were protecting do not. And it's easier to say that
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  Speaker 1: than to explain what would happen if you didn't. And
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  Speaker 1: so that doesn't mean we shouldn't do it. I just
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  Speaker 1: think it takes time. Senator Rubio dropped out of the
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  Speaker 1: presidential race in March after losing the primary in his
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  Speaker 1: home state of Florida. President Obama Supreme Court nominee has
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  Speaker 1: sent an extensive questionnaire to the Senate Judiciary Committee detailing
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  Speaker 1: his judicial qualifications. Republicans have said they won't give Judge
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  Speaker 1: Merrick Garland a hearing we expect that upon receiving his
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  Speaker 1: questionnaires in Judiciary Committee members will do their jobs by
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  Speaker 1: reviewing the information, noticing the hearings that the American people
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  Speaker 1: can hear directly from Chief Judge Garland as he answers
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  Speaker 1: the questions under oath, and then give him a fair
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  Speaker 1: yes or no vote. White House Friends Secretary Josh Ernest.
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  Speaker 1: In the document, Judge Garland lists details of his work experience,
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  Speaker 1: his biographical background, his financial information, and his most significant cases.
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  Speaker 1: The New York City landlords facing mortgage fraud charges and
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  Speaker 1: a tenant harassment lawsuit. Stephen Crowman's accused of trying to
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  Speaker 1: bully tenants out of regulated apartments. Attorney General Eric Schneiderman
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  Speaker 1: is also suing a private investigator who allegedly deceived, threatened,
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  Speaker 1: and even stalks some of Crowman's tenants, hoping to intimidate
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  Speaker 1: them into moving global news twenty four hours a day,
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  Speaker 1: powered by our two journalists in more than one hundred
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  Speaker 1: fifty news bureaus around the world. From the Bloomberg News Room,
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  Speaker 1: I'm Mark Crumpton, Charlie, and we thank you and again
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  Speaker 1: recapping Rally on Wall Street today with the S and
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  Speaker 1: P five Index climbing twenty five points to two thousand
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  Speaker 1: eighty four. That is a gain of one point three percent. Again,
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  Speaker 1: we are awaiting the latest numbers out of Disney. I'm
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  Speaker 1: Charlie Palette and dance a Bloomberg Business flash. Move around,
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  Speaker 1: Motion creates promotion, a move you move like they do.
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  Speaker 1: I've never seen anyone move that back five Peoplet's move
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  Speaker 1: like you've got a purpose. That was called movers and shakers.
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  Speaker 1: They cost a little more of that name. Cracked me up.
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  Speaker 1: Bloomberg taking stocks Movers and Shakers with Pim Fox and
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  Speaker 1: Kathleen as on Bloomberg Radio. Pretty big thumbs up for
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  Speaker 1: the stock market today. If we look at the SMP
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  Speaker 1: five hundred, there were four hundred forty seven gainers, only
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  Speaker 1: fifty four losers. Four share prices closing unchanged. I'm Kathleen
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  Speaker 1: Hayes along with Pima Fox as we continue our live
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  Speaker 1: broadcast at the Boston Convention Exhibition Center out of tonight's
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  Speaker 1: Greater Boston Chamber of Commerce Annual Meeting. Dave Wilson is
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  Speaker 1: back at Bloomberg World headquarters in New York City, and
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  Speaker 1: he's ready to kick off. Movers and Shakers. Let's talk
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  Speaker 1: about Alagon. You know them as the maker of the
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  Speaker 1: anti wrinkle treatment Botox. You know yesterday they had a
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  Speaker 1: six percent gain after as have a pharmaceuticals set expected
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  Speaker 1: to complete the forty billion dollar purchase of Allgan's Generics
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  Speaker 1: youn In on time by midyear. While today Alegan came
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  Speaker 1: out and said they're going to buy back as much
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  Speaker 1: as ten billion stock dollars in stock after the deal
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  Speaker 1: gets stunned. And beyond that, Alegan posted first quarter profit
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  Speaker 1: that beat analysts average estimate the Bloomberg Serve so on
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  Speaker 1: top of yesterday's game olegant of five point three percent. Today,
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  Speaker 1: I'll tell you about the shares of General Mills higher
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  Speaker 1: today by a little bit more than one and a
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  Speaker 1: half percent. This comes after City Group analyst David Driscoll
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  Speaker 1: wrote in a report that General Mills maybe a takeover
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  Speaker 1: candidate for three G Capital. That's the private equity firm
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  Speaker 1: that has pushed a lot of consolidation in the food
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  Speaker 1: industry with the help of warm Buffett, and of course
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  Speaker 1: three G Capital controls Burger King owner Restaurant Brands International.
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  Speaker 1: Once again, shares of General Mills hired by a little
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  Speaker 1: bit more than one and a half percent. Well, it's
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  Speaker 1: not to it's one thousand dollar price target yet, but
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  Speaker 1: Amazon having a pretty good day after a Sanford Bernstein
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  Speaker 1: analysts said, yes, he's bullish on Amazon short median and
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  Speaker 1: long term, and he is predicting this climb that would
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  Speaker 1: be cheese, would be almost a fifty percent Washington climb
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  Speaker 1: from where it is, but close to it. Amazon closing
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  Speaker 1: up three point four percent at seven hunt three dollars
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  Speaker 1: and twenty four cents. Uh. This is Karl Kershner. His
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  Speaker 1: price target is now the highest on the street. Analyst
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  Speaker 1: at JP Morgan has the next highest at nine hundred
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  Speaker 1: and fifteen dollars. A venture capitalists at Social Capital said
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  Speaker 1: this past week that Amazon will be a three trillion
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  Speaker 1: dollar company with in ten years. Day boy boy, if
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  Speaker 1: you buy any of these arguments, there's still time to
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  Speaker 1: buy Amazon and make some money. Indeed, you know it's
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  Speaker 1: coming up to retail earning season. We get results from
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  Speaker 1: Macy's tomorrow, Cole's, Nordstrom, and Ralph Lauren on Thursday, and
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  Speaker 1: so what happens. The government comes out with wholesale inventory
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  Speaker 1: figures and they show that inventories a clothing relative to
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  Speaker 1: sales when we're talking to POWERL wholesalers are the highest
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  Speaker 1: on record at two point thirty two months. Not what
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  Speaker 1: you want to hear in advance of these results. So
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  Speaker 1: all the stocks I just mentioned went lower, uh, with
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  Speaker 1: Calls taking the biggest hit, down two point four percent,
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  Speaker 1: Macy's down two percent, Ralph Lauren down one, and north
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  Speaker 1: From down seven tents of a percent in today's treading.
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  Speaker 1: Shares of Kroger lower today, down one and a half percent,
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  Speaker 1: after the grocery store chain says that it is going
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  Speaker 1: to hold a nationwide hiring event to fill fourteen thousand
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  Speaker 1: open jobs across its supermarket chains that includes Ralph's, fred
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  Speaker 1: Meyer and Food for Less and Uh. This company, of
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  Speaker 1: course are based in Cincinnati. They've got nearly twenty eight
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  Speaker 1: hundred stores, including the pay Less and the King Scoopers
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  Speaker 1: as well as Baker's, and they are looking to create
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  Speaker 1: twenty thousand new jobs since well, another retailer, Gap, Gap
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  Speaker 1: is down about eleven and a half percent today, closing
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  Speaker 1: around nine ninets a share. What happened, well, Uh, they
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  Speaker 1: are same store sales, the very import benchmark for retailers
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  Speaker 1: down seven percent in April. That's what Gaps said, today
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  Speaker 1: and analyst A predicted gain at one point one percent.
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  Speaker 1: They got a new CEO last year, he's today He's
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  Speaker 1: gonna have a big turnaround that would show up by now. Instead.
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  Speaker 1: Their slugg a store traffic from March continued in April,
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  Speaker 1: especially bad at Old Navy. Comparable sales at that chain
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  Speaker 1: plunged ten percent in April. It is time now for
• 9:21
  Speaker 1: the Volatility Index Report. It is brought to you by
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• 9:36
  Speaker 1: The VIX lower today down more than six percent, down
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  Speaker 1: point nine oh, settling at thirteen point six seven and
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  Speaker 1: at one point you know the wild moves today in
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  Speaker 1: the VIX of one percent and down one percent. Currently
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  Speaker 1: the level of the VIX is half what we saw
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  Speaker 1: in February. Complacently is setting in. All right, Dave, you're hi,
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  Speaker 1: My name is Dave. Well, just what do you think
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  Speaker 1: you're doing? Day? Were day? An investress might put up
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  Speaker 1: with one or two disappointing earning supports, but when you
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  Speaker 1: have four straight quarterly losses or disappointments in a row.
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  Speaker 1: I guess that could be tough, and this brings us
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  Speaker 1: to Dave Wilson and his stock of the day. Pr
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  Speaker 1: A Group. That's right, Kathleen. This company is a debt
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  Speaker 1: collector that begins twenty years ago as Portfolio Recovery Associates.
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  Speaker 1: Company buys consumer loans have gone bad and tries to
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  Speaker 1: get borrowers to pay up. It does business in the US, Canada,
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  Speaker 1: and Europe. Pr A has been publicly traded since two
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  Speaker 1: thousand two, as listed under the ticker p r A. A.
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  Speaker 1: Company shares rose as much as tenfold during the current
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  Speaker 1: bullmarket in the US, stocks peak at sixty five dollars
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  Speaker 1: each in November four. Since then, p r A has
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  Speaker 1: given back most of its bullmarket games. The shares retreated
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  Speaker 1: as one earnings reported after another proved to be disappointing.
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  Speaker 1: The company's results for the first quarter were released late
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  Speaker 1: yesterday and brought Moore the same p r A earned
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  Speaker 1: eighty five cents to share. Alice expected ninety four cents
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  Speaker 1: on average. According to a Bloomberg Survey revenue trail the
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  Speaker 1: average estimate by six point three percent, and that was
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  Speaker 1: the fifth straight quarterly shortfall on the top line. Now,
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  Speaker 1: the latest disappointment sent p r A shares to their
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  Speaker 1: biggest one day loss ever. The stock tumbled almost nineteen
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  Speaker 1: percent in today's trading. Thank you very much, David Wilson.
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  Speaker 1: Bloomberg Stocks commis coming up. We continue broadcasting live from
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