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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 journey four hours a day at Bloomberg
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  Speaker 1: John the Radio plus globally and on your radio. This
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  Speaker 1: is a Bloomberg Business flag from Bloomberg World Headquarters, signed
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  Speaker 1: Charlie Plot a move law on a historic trading day
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  Speaker 1: with the DAL, the SMP nezdak all declining part of
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  Speaker 1: a global stock market sell off. Folks from Grand Tierra
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  Speaker 1: Energy ringing that closing bell at the close now down.
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  Speaker 1: Industrials down six hundred ten points at the worst level
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  Speaker 1: of the day. They have been down as many as
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  Speaker 1: six hundred fifty four points. Stocks tumbling the most since January,
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  Speaker 1: joining us sell off in global risk assets on speculation
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  Speaker 1: that the UK decision to leave the European Union will
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  Speaker 1: hamper worldwide growth. Kit Jukes was our guest right here
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  Speaker 1: on taking Stock this afternoon. He is with Associetated in
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  Speaker 1: General and he had this reaction to what happened with
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  Speaker 1: the UK vote. Now at the moment, it's it's the
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  Speaker 1: negotiating period, so the certainty for the next couple of
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  Speaker 1: years and whether that has to go through I don't know,
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  Speaker 1: you know, anger, denial and then finally acceptance that we
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  Speaker 1: have to make the best of what we've decided to
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  Speaker 1: do um. So so I'm nervous about the anger denial
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  Speaker 1: phases of this particular negotiation, and I suspect that that
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  Speaker 1: why the negotiate it will take it slow. So so
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  Speaker 1: those are the things that I worry about. And also
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  Speaker 1: reacting to the vote. Nick kole Us, chief market strategist
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  Speaker 1: of converge X Group, interview moments ago right here on
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  Speaker 1: taking Stock. Like everybody else, it's a very big wow.
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  Speaker 1: It was now what was expected. And as the votes
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  Speaker 1: came in last night, I think we're all glued to
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  Speaker 1: the TV until one or two in the morning and
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  Speaker 1: are a little groggy this morning, and so it's still
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  Speaker 1: hard to believe it's happened, but it has and catching
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  Speaker 1: it all on Bloomberg Television, radio, complete coverage right through
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  Speaker 1: the weekend. So here's where we stand as we head
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  Speaker 1: into the weekend. SMP down seventy six of the clothes
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  Speaker 1: again a historic trading day. The SMP at two thousand
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  Speaker 1: thirty seven, a drop there of three point six percent
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  Speaker 1: now is stacked down four point one percent at the close,
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  Speaker 1: down two hundred two points down. Industrials dropping six hundred
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  Speaker 1: ten points down three point four percent, gold surging fifty
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  Speaker 1: eight dollars thirteen twenty one. Again there are four point
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  Speaker 1: six percent. It is four or two on Wall Street. Now,
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  Speaker 1: let's take a look at other news from around the world.
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  Speaker 1: Hamblmberg Radio, Charlie, thank you from the Bloomberg news room.
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  Speaker 1: I Mark Crumpton. Despite concerns and financial markets, Donald Trump
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  Speaker 1: is praising the British vote to leave the European Union.
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  Speaker 1: Trump spoke to reporters at one of his golf courses
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  Speaker 1: in Scotland. He said, voters are taking their country back.
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  Speaker 1: It will turn out to be a good thing. Maybe
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  Speaker 1: short term not, but ultimately I think it will be
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  Speaker 1: a good thing. Seventeen million Britons voted to leave the
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  Speaker 1: European Union, sixteen million voted to stay. Leave proponent and
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  Speaker 1: UK Independence Party leader Nigel Farage says he believes more
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  Speaker 1: EU nations will follow Britain's lead. Here he's failing, here,
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  Speaker 1: he's dying. Hi, we've not first brick out of the wall.
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  Speaker 1: I it's the first step towards a Europe of sovereign
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  Speaker 1: nation States. Prime Minister David Cameron resigned this morning, saying
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  Speaker 1: the country requires fresh leadership. Among the potential replacements fellow
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  Speaker 1: Conservative Boris Johnson, who led the Leave campaign. The International
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  Speaker 1: Monetary Funds Managing director Christine Legarde had this reaction, saying, quote,
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  Speaker 1: we urged the authorities in the UK and Europe to
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  Speaker 1: work collaboratively to ensure a smooth transition to a new
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  Speaker 1: economic relationship. President Obama is designating the Stone Wall in
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  Speaker 1: in New York City as a national monument, the first
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  Speaker 1: to honor gay rights. The Tavern and Greenwich village became
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  Speaker 1: the side of an uprising after police raided in in
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  Speaker 1: June of nineteen sixty nine, triggering what's widely viewed as
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  Speaker 1: the start of the gay rights movement. Global News twenty
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  Speaker 1: four hours a day, powered by more than twenty journalists
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  Speaker 1: and analysts in more than one hundred twenty 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: And again the pound plunging to a thirty year low
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  Speaker 1: right now, sterling at one thirty six Again, Stocks move
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  Speaker 1: law SMP five hundred index down seventy six points today.
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  Speaker 1: Year to date, the SMP five hundred index showing a
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  Speaker 1: loss of three tents of one percent. The down down
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  Speaker 1: six hundred eleven points a drop of three point four percent.
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  Speaker 1: I'm Charlie Pellett. That's a Bloomberg business flash, most great
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  Speaker 1: promotion at the elite move you move like they do.
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  Speaker 1: I've never seen anyone move that back five people. Let's
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  Speaker 1: move like to get a purpose. He's called movers and shakers.
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  Speaker 1: It costs a little movement. That name cracked me up.
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  Speaker 1: Bloomberg taking stock Movers and shakers with Pim Fox and
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  Speaker 1: Kathleen As on Bloomberg Radio. Oh boy, moving and shaking.
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  Speaker 1: That's certainly what we've seen since the votes started coming in.
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  Speaker 1: Actually yesterday afternoon we saw someone of the first exit
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  Speaker 1: polls right here during taking stock. And of course now
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  Speaker 1: everyone's assessing the damage permanent temporary. We shall see damage
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  Speaker 1: to day SP five hundred down more than three and
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  Speaker 1: a half percent. Only through thirty nine companies saw their
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  Speaker 1: share prices closed higher. Only thirty nine companies UH four
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  Speaker 1: D sixty six lower, none unchanged ableson. I guess nobody
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  Speaker 1: was on the fence. And it's interesting. And you look
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  Speaker 1: at the lovely movers and shakers you put together every day,
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  Speaker 1: not surprising that the green arrows are for companies that
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  Speaker 1: benefit from market volatility or you know concern you know,
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  Speaker 1: precious metals, and there's a lot of companies where their
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  Speaker 1: actual sales and revenues are at risk and they're down absolutely.
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  Speaker 1: There are fifteen stocks in the SNP five hundred that
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  Speaker 1: fell more than ten percent in today's trading, and the
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  Speaker 1: biggest loss went to the mutual fund manager Investco. Now
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  Speaker 1: the UK and Ireland it counts for a smaller share
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  Speaker 1: of their business than it did, say a few years ago. Nonetheless,
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  Speaker 1: still about tent of their revenue comes from the British
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  Speaker 1: Isles and also from Ireland. So uh, you can see
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  Speaker 1: why people would get concerned about what happens now that
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  Speaker 1: the UK is going its own way to some extent.
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  Speaker 1: And boy, it's certainly showed up with Investco's shares. They
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  Speaker 1: fell thirteen points seven percent today. I'm gonna tell you
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  Speaker 1: about a stock that actually gained, and this is a
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  Speaker 1: stock that reported earnings today. The finish line searching the
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  Speaker 1: most and more than seven years of more than twenty
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  Speaker 1: one percent beat first quarter expectations in a weak retail environment.
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  Speaker 1: It was helped by the strong sale of Audi Das
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  Speaker 1: Adidas brand shoes. Sales rose about two point three percent
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  Speaker 1: at a company based in indianap List reported profit of
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  Speaker 1: twenty three cents a share in that top analyst estimates
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  Speaker 1: of twenty two cents a share, and the company also
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  Speaker 1: reiterated its annual forecast, signaling confidence despite that challenging consumer environment,
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  Speaker 1: shares a finish line. Bank stocks kind of poster child
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  Speaker 1: for the just immediate and hard impact of this big
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  Speaker 1: Brexit vote. I love this quote in our Bloomberg story
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  Speaker 1: by the CEO of Deutsche Bank. This is not such
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  Speaker 1: a good day for Europe. We cannot fully foresee the consequences,
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  Speaker 1: but there is no doubt that they will be negative
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  Speaker 1: on all sides. As you can see it, bank stocks
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  Speaker 1: plunging around the world. The bl Bloomberg Europe Banks and
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  Speaker 1: Financial Services Index fell That's the most in history, Barkley's
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  Speaker 1: biggest drop of more than seven years. In fact, Deutsche
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  Speaker 1: Bank had its biggest intra day drop since the financial crisis.
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  Speaker 1: Uh City Group down more than nine of the close
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  Speaker 1: Morgan Stanley the only big U S bank that had
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  Speaker 1: a little question mark over its bank stress test results
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  Speaker 1: all even though it did pass when the FED issued
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  Speaker 1: its report yesterday, and we're going Stanley closing down more
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  Speaker 1: than ten percent Dave, you want to know what had
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  Speaker 1: stress tests today? Exchange traded funds that focus on European stocks,
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  Speaker 1: and I just want to point out the biggest one,
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  Speaker 1: which is the Vanguard foot see Europe e t F.
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  Speaker 1: The ticker on this one is v g K and
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  Speaker 1: in light of events, shares were down eleven point three
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  Speaker 1: percent today's trading. That's the biggest drop since this e
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  Speaker 1: t F was introduced back in March two thousand five.
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  Speaker 1: All Right, I'm gonna tell you about the Hershey Company
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  Speaker 1: because maybe you could use little chocolate today. After today's
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  Speaker 1: movement in stocks and bonds, UH, the Hershey Company announcing
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  Speaker 1: ambitious new goals to reduce environmental impact, also increaching the
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  Speaker 1: purchase of responsively sourced ingredients, and UH continuing their efforts
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  Speaker 1: to get all that chocolate into people's UH kitchens. Once again,
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  Speaker 1: the Hershey come shares up eight tenths of a percent.
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  Speaker 1: All right, now, try just do the VIX. I'll do
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  Speaker 1: the VIX. Go ahead, let's check it out. And getting
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  Speaker 1: a lot of volatility the volatility Index brought to you
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  Speaker 1: by cbo E VIX options and futures. Volatility can be
• 9:14
  Speaker 1: harnessed with cbo E VIX options and futures see disclosures.
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  Speaker 1: Learn more at a cbo E dot com Powerful Outcomes
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  Speaker 1: VIX are at the VIX yes surging forty percent, up
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  Speaker 1: a six point nine, settling at twenty four point one
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  Speaker 1: five and taking a look at the VIX, well, what
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  Speaker 1: did the technical charts say? It says that if you
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  Speaker 1: were long volatility, you did very well. But the volatility
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  Speaker 1: may not be over because historically the VIX remains low.
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  Speaker 1: All right, Dave, you're up. My name is Dave. Just
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  Speaker 1: what do you think you're doing? We're going for the
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  Speaker 1: price on will Dave well a daylight today? A Wilson,
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  Speaker 1: You've got a lot of candidates for your stock of
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  Speaker 1: the day, with so many having their their path interrupted.
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  Speaker 1: But Chesapeake Utilities, what's going on with them? The stock
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  Speaker 1: that rose today in the midst of all this. Let's
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  Speaker 1: start there. I mean, you tell it. He starts to
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  Speaker 1: relatively well, but not as well as this company. Chests
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  Speaker 1: Peak Utility sells natural gas propane electricity to customers along
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  Speaker 1: in the US East Coast. Company operates in Florida, Virginia,
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  Speaker 1: and Maryland along with his home state of Delaware. Chesapeake
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  Speaker 1: Sticker is cpk IT shares more than quadruple from the
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  Speaker 1: start of the U S Bowl market back in March
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  Speaker 1: two thousand nine through February of this year, when they
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  Speaker 1: peaked at a record. Since then, they've fallen as much
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  Speaker 1: as fourteen percent. The pull back got the attention of
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  Speaker 1: Hilliar Lions, which raised Chesapeake today to its second highest
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  Speaker 1: rating long term by firm had the neutral in the
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  Speaker 1: stock and Ala Spencer Joyce wrote in a report the
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  Speaker 1: Chesapeake may have the highest potential growth rate among utilities
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  Speaker 1: that his firm covers. He predicted the shares would rise
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  Speaker 1: twenty four percent over two years to seventy two dollars now.
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  Speaker 1: Data compiled by Bloomberg shows Hilliard Lions is now the
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  Speaker 1: only firm to recommend buying Chesapeake. Three other firms are
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  Speaker 1: all neutral. In fact, Chesapeake went more than three months
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  Speaker 1: without a single by rating. Now Chesapeake took a big
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  Speaker 1: step toward Joyce's target price today, even as US stocks dropped.
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  Speaker 1: The shares well. They closed at sixty two dollars eighty
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  Speaker 1: six cents after climbing eight point two percent, and that
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  Speaker 1: was the stocks biggest game since August. Thank you very much,
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  Speaker 1: Dave Wilson very interesting our stocks commist, Go ahead, send
• 11:43
  Speaker 1: him an email at d Wilson and Bloomberg dot net
• 11:47
  Speaker 1: and sign up for his daily free email newsletter. It
• 11:50
  Speaker 1: will make you a smarter investor. You're listening to taking
• 11:54
  Speaker 1: Stock on Bloomberg Radio, I'm pim Fox, my co host
• 11:57
  Speaker 1: Kathleen Hayes. Yeah for you. As annoyed as I was
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  Speaker 1: with all the people saying, oh, we forget the UK polls.
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  Speaker 1: The bookies are betting on the re Remain vote winning. Well,
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  Speaker 1: they were so wrong. We're going to find out why.
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  Speaker 1: On Bloomberg Radio, m