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

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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 twenty four hours a day. If Huberg
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  Speaker 1: This is a Broomberg Business Flash from Bloomberg World Headquarters.
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  Speaker 1: I'm Charlie Pelliper. You have its sound of the closing
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  Speaker 1: up trading on this Tuesday, June twenty one, folks from
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  Speaker 1: Alzheimer's Awareness ringing the closing bell, back to back gains
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  Speaker 1: for stocks higher in three of the last four sessions.
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  Speaker 1: closest to you. Stocks advanced with sentiments susceptible to swings
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  Speaker 1: before Thursday's vote the Thursday on Britain's European Union membership,
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  Speaker 1: Energy producers, tech companies leading the SMP five hundred index
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  Speaker 1: higher Today fedg haired Janet Yellen offered a subtle change
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  Speaker 1: to her outlook from less than a week ago, saying
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  Speaker 1: she and her colleagues were on watch for weather rather
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  Speaker 1: than when the U S economy would show clear signs
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  Speaker 1: of improvement. Bob doll Is with now Vine Asset Management.
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  Speaker 1: He was interviewed moments ago right here on taking Stock.
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  Speaker 1: Heard from Jenny Ellen this morning, and she's indicated, Look,
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  Speaker 1: they want to raise rates, but the conditions have to
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  Speaker 1: be right. Brexit is one of them. If Brexit, Brexit happens,
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  Speaker 1: at the beginning of this month, for the month of May,
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  Speaker 1: and then that gives us the opportunity to consider raising
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  Speaker 1: rache The ten year down four thirty seconds, looking at
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  Speaker 1: the yield of one point seven percent, gold tumbling twenty
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  Speaker 1: three sixty ounce to twelve sixty eight, a drop of
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  Speaker 1: one eight percent, Crude oil down fifty two cents a
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  Speaker 1: barrel or dropped there of one point one percent, and
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  Speaker 1: natural gas up today by six tenths of one percent.
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  Speaker 1: So again, recapping SMP five hundred index up five to
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  Speaker 1: two thousand again today of three tenths of one percent
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  Speaker 1: four O two on Wall Street. Now, let's take a
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  Speaker 1: look at other news from around the world. Charlie, thank
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  Speaker 1: you from the Bloomberg newsroom. I'm Mark Crumpton. Hillary Clinton's
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  Speaker 1: as a Donald Trump presidency would throw the United States
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  Speaker 1: back into recession. Mrs Clinton spoke to supporters in the
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  Speaker 1: battel ground state of Ohio, think that because he has
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  Speaker 1: spent his life as a businessman, he'd be better prepared
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  Speaker 1: to handle the economy. Well, it turns out he's dangerous
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  Speaker 1: there too. Just like he shouldn't have his finger on
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  Speaker 1: the button, he shouldn't have his hands on our economy.
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  Speaker 1: The Bill Hillary and Chelsea Clinton Foundation was among the
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  Speaker 1: organizations breached by suspected Russian computer records. That's according to
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  Speaker 1: people familiar with the matter, but a spokesman for the
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  Speaker 1: foundation said he wasn't aware of any breaches. Prime Minister
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  Speaker 1: David Cameron is urging his fellow Britons to vote to
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  Speaker 1: stay in the European Union. Mr Cameron said a Brexit
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  Speaker 1: vote would be bad for the British economy and banned
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  Speaker 1: for national security. I've seen it's time and again at
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  Speaker 1: a very practical level that we are safer in Europe.
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  Speaker 1: Then the so called Brexit REFERENDUMUS Thursday, The Rolling Stones
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  Speaker 1: are bringing an exhibit of more than five hundred recordings
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  Speaker 1: and artifacts, including guitars, costumes, and personal diaries from the
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  Speaker 1: band's archive to New York in November. Exhibitionism was launched
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  Speaker 1: in London in April. This follow will mark the exhibits
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  Speaker 1: North American debut at the Industrial super Studio in the
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  Speaker 1: twenty four hours a day, powered by more than twenty
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  Speaker 1: journalists and analysts and more than one hundred countries. I'm
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  Speaker 1: more Crumpton. This is Bloomberg, Charlie, and we thank you
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  Speaker 1: it again. Recapping stocks higher SMP advancing five points to
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  Speaker 1: two thousand eighty eight, back to back gains up today
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  Speaker 1: by three tenths of one percent. I'm Charlie Peloton. That's
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  Speaker 1: a Bloomberg business flash move around. Motion creates promotion. I
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  Speaker 1: move you moved like they do. I've never seen anyone
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  Speaker 1: move that back hired people. Let's moved like to get
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  Speaker 1: a purpose. That was called movers and shakers. They cost
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  Speaker 1: a little more. That name cracked me up. Bloomberg taking
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  Speaker 1: stock Movers and Shakers with Pim Fox and Kathleen as
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  Speaker 1: on Bloomberg Radio Bloopers and Shakers for Tuesday, June twenty
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  Speaker 1: six the constituents of the SMP five hundred, three hundred
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  Speaker 1: and eleven issues moving higher, one hundred and eighty eight declines,
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  Speaker 1: and six remain unchanged. Dave Wilson, Bloomberg Stocks Columist joins
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  Speaker 1: us now to begin our movers and Shakers. Dave, wasn't
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  Speaker 1: a great day to be in the autoparts business. I'll
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  Speaker 1: tell you that PIM Bank of America Merrill Lynch cut
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  Speaker 1: its auto industry sales estimates through eighteen. They also brought
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  Speaker 1: down ratings on five stocks. One of them was Borg Warner,
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  Speaker 1: which was one of the day's worst performers in the
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  Speaker 1: SMP five hundred. That stock down almost four percent, American
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  Speaker 1: actual manufacturing down about six percent, Lear down almost three percent,
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  Speaker 1: metal dying performance down five point seven percent. All those
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  Speaker 1: stocks cut to neutral from by at the Bank of
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  Speaker 1: American Merrill Lynch, and they also reduced another company, Cooper Standard,
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  Speaker 1: to the equivalent of self from Hold and Cooper Standard
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  Speaker 1: Chairs following three percent on the day. Well, speaking of colors,
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  Speaker 1: Dave Wilson CarMax, which as you know, is the largest
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  Speaker 1: US seller of used autos is closing down by nearly
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  Speaker 1: five percent today forty eight dollars and change. It's uh
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  Speaker 1: the most and more than two months now. Your report
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  Speaker 1: of first quarter revenue and profit, the trailed estimates sales
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  Speaker 1: growth with this was the slowest in nearly six years.
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  Speaker 1: Cost Rows. I think what's so interesting here is that
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  Speaker 1: Seth Basham at Wedbush Securities, where he's an analyst who
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  Speaker 1: covers CarMax, notes that it's getting a smaller portion of
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  Speaker 1: its sales from sub prime customers because of slower traffic
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  Speaker 1: and tightening credit. He says, over the last few years,
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  Speaker 1: we've seen very easy credit to those types of buyers
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  Speaker 1: and that has probably pulled a lot of sales forward.
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  Speaker 1: So we're seeing a little bit lower demands. Subprime auto sales,
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  Speaker 1: of course, have become a bigger part of the market
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  Speaker 1: and a bigger question as well. But CarMax bearings the
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  Speaker 1: brunt of some of that. To Dave him, let me
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  Speaker 1: tell you about the shares of Adobe, mainly because they
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  Speaker 1: just released their quarterly results. The shares and after hours
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  Speaker 1: trading down a little bit more than one percent. This
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  Speaker 1: desp the company reporting record revenue. Company comes in and
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  Speaker 1: says that second quarter adjusted earnings per share was seventy
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  Speaker 1: one cents. The estimate was for sixty eight cents, revenue
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  Speaker 1: matching estimates at one point four billion. But right now
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  Speaker 1: shares of Adobe down about nine tenths of a percent.
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  Speaker 1: We'll watch the share movement in after hours trading. Well,
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  Speaker 1: we definitely had some movement on the deal front. Energy
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  Speaker 1: Transfer Equity, which is uh. They've been trying since last September.
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  Speaker 1: At least they made a deal last September to buy Williams.
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  Speaker 1: So he's talking about a couple of pipeline companies back
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  Speaker 1: they're getting together. I mean since then, their share prices
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  Speaker 1: have fallen. They've gone back and forth against each other,
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  Speaker 1: claiming they didn't live up to the terms of the deal.
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  Speaker 1: Energy Transfer saying, you know that the purchase can't be
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  Speaker 1: completed because it hasn't been designated as tax free. Well,
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  Speaker 1: Delaware judge heard arguments between the two companies and said
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  Speaker 1: it matters whether attorneys raised this tax issue in good
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  Speaker 1: faith and the idea that maybe Energy Transfer can get
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  Speaker 1: out from under I mean, if it doesn't close in
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  Speaker 1: a week, they're able to walk away and not pay
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  Speaker 1: any penalty. Energy Transfer shares were up almost seventeen and
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  Speaker 1: a half percent in today's trading, and Williams was one
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  Speaker 1: of the worst performers on today and the SMP by
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  Speaker 1: a hundred. That's stocked down almost three percent. Interesting that
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  Speaker 1: Lenar is actually closing a little bit lower today because
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  Speaker 1: they had some actually pretty good news. They're down about
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  Speaker 1: one percent, and that's in spite of the fact that
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  Speaker 1: they reported physical second quarter earnings that beat analysts estimates.
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  Speaker 1: A lot of focus on the improving job job market
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  Speaker 1: boosting confidence, but in fact, I think it's so important
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  Speaker 1: for Lenar is that they have been able to operate
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  Speaker 1: with relatively large profit margins because they were smart they
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  Speaker 1: loaded up on land at distress prices after the real
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  Speaker 1: estate crash, and they have lots of divisions like multi
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  Speaker 1: family and commercial, real estate, asset management, and finance that
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  Speaker 1: have been fitting from that well. They mentioned on their
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  Speaker 1: conference call that they're operating margin maybe down as much
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  Speaker 1: as half a percentage point for the year, and that's
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  Speaker 1: a contrast to what happened under first and second fiscal
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  Speaker 1: quarters because that watching actually rose. So that may wait.
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  Speaker 1: We'll explain why the shares move lower after initially rising
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  Speaker 1: in response to the results. I'm just going to tell
• 9:14
  Speaker 1: you quickly about opt go Health a symbol o p K,
• 9:17
  Speaker 1: mainly because Dr Phil Frost, the chief executive and the
• 9:20
  Speaker 1: founder of opt go Health, previously been a guest on
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  Speaker 1: taking stock. Shares of opt go Health up today by
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  Speaker 1: more than five and a half percent. This after the
• 9:29
  Speaker 1: Food and Drug Administration approving its drug called rail D,
• 9:33
  Speaker 1: and it is designed to treat hyper parathyroidism. Now you
• 9:36
  Speaker 1: have to recall that back in March of the drug
• 9:39
  Speaker 1: rail D was initially rejected by the FDA, but today
• 9:42
  Speaker 1: it was approved. Shares of up go Health higher by
• 9:45
  Speaker 1: five and a half percent, and PIM this is justifying
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  Speaker 1: Dr frost optimism that it would make get that approval
• 9:52
  Speaker 1: when he joined us. As you said just last week
• 9:54
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  Speaker 1: a small gain. It's closing up about a tenth of
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  Speaker 1: a point at eighteen point four nine. Now it's recovering
• 10:16
  Speaker 1: from a small drop to eighteen point to eight today,
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  Speaker 1: which would have been the biggest backpack drop in three weeks.
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  Speaker 1: But with Brexit ahead in the Brexit vote, we may
• 10:25
  Speaker 1: see some increased volatility in that index. All right, Dave,
• 10:29
  Speaker 1: you're up. H Hi, my name is Dave. Just what
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  Speaker 1: do you think you're doing today? We're going for Dave. Hey,
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  Speaker 1: Mr Wilson, tell us about your stock of the day
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  Speaker 1: has to do with Elliott Associates. That's right, I mean
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  Speaker 1: billionaire pulse singers. Firms had a busy week and it's
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  Speaker 1: only Tuesday. First there was Dell's deal to sell a
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  Speaker 1: software unit to the activist investor's new private equity arm
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  Speaker 1: and the buy out firm Francisco Partners. Then came Elliott's
• 11:02
  Speaker 1: disclosure of a nine percent stake in a security software maker, Imperva.
• 11:08
  Speaker 1: Now this company has been publicly traded since November. Tickers
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  Speaker 1: I m p D company shares peak glass November after
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  Speaker 1: one of quadrupling from the initial price. Then they tell
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  Speaker 1: me as much as six as the two most recent
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  Speaker 1: earnings reports proved disappointing. Now Elliott disclosed it's impervot Steak
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  Speaker 1: in a filing late yesterday. Uh filing referred to IMPERVAT
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  Speaker 1: as materially undervalued. Elliott said it's begun talks with the
• 11:32
  Speaker 1: board about ways to lift the stock price and the
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  Speaker 1: arrival of singers. Firm sent shares have been Pervert to
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  Speaker 1: their biggest one day game since October. They climbed almost
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  Speaker 1: twelve and a half percent. Dave Wilson, thank you so
• 11:46
  Speaker 1: very much our stock center joining us on movers and
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  Speaker 1: shakers on taking stock. You can follow him at the
• 11:53
  Speaker 1: one Dave on Twitter. I'm Kathleen Hayes along with pim
• 11:58
  Speaker 1: Fox and this is taking stock on Bloomberg Radio. Yeah, Bloomberg.
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