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

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  Speaker 1: Global Business News twenty four hours a day, Bloomberg Dot
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  Speaker 1: gom So Radio plushlobles a Bloomberg bats flash from Bloomberg
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  Speaker 1: World Headquarters on Katherine Cowdery and AzaC closing bell sounds.
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  Speaker 1: It finds a down industrial average, down thirty points and
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  Speaker 1: eighth of repercent, treating an eighteen thousand, two hundred forty
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  Speaker 1: s and P five thundered down seven point three nasack
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  Speaker 1: down fourteen points a quarter percent at fifty two ninety two. Well,
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  Speaker 1: the stock market narrowed earlier losses in afternoon trading after
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  Speaker 1: the Job's report showed steady growth in the labor market,
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  Speaker 1: though not enough to force a federal reserve to rush
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  Speaker 1: to raise interest rates. Employers added one hundred fifty six
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  Speaker 1: thousand jobs a month. The jobless rate rose to five
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  Speaker 1: percent as a labor participation rate increased. Greg Reader, chief
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  Speaker 1: investment officer at black Rock Advisors, spoke about the Job's
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  Speaker 1: report on Bloomberg Television. So I thought it was a
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  Speaker 1: solid number. I think the markets were expecting since some
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  Speaker 1: of the recent growth that has been pretty good. Maybe
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  Speaker 1: a bit higher, But actually you take out to some
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  Speaker 1: seasonality of the government worker number, and if you actually
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  Speaker 1: put that back to normal. Then, uh, we're back at
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  Speaker 1: about a hundred seventy thousand jobs. We take in markets
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  Speaker 1: every fifteen minutes throughout the trading day, down industrial leverage
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  Speaker 1: and down twenty eight points as it begins to settle
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  Speaker 1: an eighth of a percent to eighteen thousand, two hundred
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  Speaker 1: forty west six Centemedia crude oil down eighty cents, up
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  Speaker 1: barrel one point six percent to forty nine sixty four.
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  Speaker 1: Spot gold is up four dollars thirty cents hence at
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  Speaker 1: twelve fifty seven twenty and that ten year treasury up
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  Speaker 1: four thirty seconds at one point seventy two sixteen. Among
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  Speaker 1: today's top business stories, Qatar's royal family is considering increasing
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  Speaker 1: at stake in Deutsche Bank to as much as twenty
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  Speaker 1: five percent. That's according to people with knowledge of the matter.
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  Speaker 1: They say a former prime minister of the Gulf state
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  Speaker 1: and the former emir are exploring increasing their current stake
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  Speaker 1: of about ten percent in Germany's biggest lender. Now. Deutsche
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  Speaker 1: Bank has been under pressure to restore confidence in the
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  Speaker 1: company's ability to withstand pending litigation costs. Boeing has landed
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  Speaker 1: an eighteen point six billion dollar deal with Qatar Airways
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  Speaker 1: for his much as one aircraft. It provides a sales
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  Speaker 1: boost to the company's upgraded seven thirty seven jetliner with
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  Speaker 1: one of the years largest commercial airplane deals. It's a
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  Speaker 1: four oh two on Wall Street, and that means it's
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  Speaker 1: time to get an update of some of the other
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  Speaker 1: stories we're following today on Bloomberg Radio. Catherine, thank you
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  Speaker 1: from the Bloomberg News Room. I'm Mark Crumpton. This news
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  Speaker 1: of global connections. There are new concerns about Hurricane Matthew
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  Speaker 1: as the storm heads North. National Guard Air Force Major
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  Speaker 1: General j C with them primarily looking at flooding, especially
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  Speaker 1: in South Carolina and North Carolina is a great deal
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  Speaker 1: of those states that are already saturated in terms of rain.
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  Speaker 1: Matthew's top sustained winds are now clocked at one hundred
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  Speaker 1: fifteen aisles per hour As the storm moves off the coast,
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  Speaker 1: of northeastern Florida. It's still threatening such historic sites as Savannah,
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  Speaker 1: Georgia and Charleston, South Carolina. FEMA Administrator Craig Fugate and
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  Speaker 1: if you're in the evacuation zone. The storm is being
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  Speaker 1: blamed for at least two hundred eighty deaths in the Caribbean.
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  Speaker 1: Hillary Clinton leads Donald Trump and the latest national election poll,
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  Speaker 1: the new Quinnipeac University survey, as Clinton leading Trump. To
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  Speaker 1: Clinton's lead in the survey comes two weeks after an
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  Speaker 1: earlier poll found she was neck and neck with Trump
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  Speaker 1: among likely voters. New Jersey Transit says rail service will
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  Speaker 1: resume Monday morning at a portion of the Hoboken terminal.
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  Speaker 1: It's been closed since last week's train crash, in which
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  Speaker 1: one woman was killed and more than one hundred injured.
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  Speaker 1: Investigators believed the train was traveling at twice the speed
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  Speaker 1: limit when it entered the terminal. Global News twenty four
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  Speaker 1: hours a day, powered by more than twenty hundred journalists
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  Speaker 1: and a list in over one hundred twenty countries. I'm
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  Speaker 1: Mark Crumpton, this is Bloomberg. Katherine, thank you, and now
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  Speaker 1: let's get a quick update of those benchmarks. As they
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  Speaker 1: begin to settle down. Industrial leverage down twenty eight points
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  Speaker 1: to eighteen thousand, two hundred forty s and p F
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  Speaker 1: foundered down seven points three. Then Aazak is down fourteen
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  Speaker 1: at fifty two ninety two. Bloomberg taking SOCC is brought
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  Speaker 1: will always be humans first. And that's a bloom Purposes
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  Speaker 1: splash move around most prairie promotion. I feel earth move.
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  Speaker 1: You moved like they do. I've never seen anyone move
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  Speaker 1: that back fired people. It's moved like you've got a purpose.
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  Speaker 1: That he's called movers and shakers. They cost a little more.
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  Speaker 1: That name cracked me up. Bloomberg taking stock Movers and
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  Speaker 1: Shakers with pim Fox and Kathleen Hay's on Bloomberg Radio,
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  Speaker 1: definitive down day for stocks a D thirty gainers, three
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  Speaker 1: seventy one losers for closing unchanged. I'm Kathleen Hayes along
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  Speaker 1: with pim Fox Stocks editor Joe Sioley is back to
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  Speaker 1: kickoff movers and shakers. So first up, we have PPG Industries.
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  Speaker 1: This is the world's largest paint coatings maker. UH. The
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  Speaker 1: stock was down eight point six per cent today. That's
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  Speaker 1: the biggest decline in more than six years. UH. The
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  Speaker 1: reason being, UM, they posted third quarter earnings that trailed
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  Speaker 1: analysts estimates. UM. What they did at this quarter was
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  Speaker 1: they divested some some not very core businesses flat glass
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  Speaker 1: and fiberglass units UM as they continue to tighten their
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  Speaker 1: focus on architectural paints and uh an automobile coatings. UM.
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  Speaker 1: But in the short term, investors UH not seeing the
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  Speaker 1: results they wanted and UH, you know they missed estimates.
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  Speaker 1: There PPG, the old Pittsburgh plate Glass company. I'll tell
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  Speaker 1: you about Apple. Apple shares up about a tenth of
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  Speaker 1: a percent, a hundred and fourteen dollars and six cents
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  Speaker 1: for a share of Apple. Apple winning an appeals court
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  Speaker 1: ruling that reinstates a patent infringement verdict that it won
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  Speaker 1: against Samsung Electronics, including its slide to unlock feature that
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  Speaker 1: you may note on the smartphones as well as tablets.
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  Speaker 1: This coming from the U. S. Court of Appeals for
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  Speaker 1: the Federal Circuit, said that a three judge panel was
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  Speaker 1: wrong to throw out that one hundred and twenty million
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  Speaker 1: dollar verdict in February. Instead, it ordered the trial judge
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  Speaker 1: to consider whether the judgment should be increased based on
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  Speaker 1: any intentional infringement by Samsung once again. Shares of Apple
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  Speaker 1: up about a tenth of a percent today a hundred
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  Speaker 1: and fourteen dollars and six Honeywell Boy Oh Boy down
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  Speaker 1: nearly eight percent at the close today. That's the biggest
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  Speaker 1: drop in more than a year. Report a preliminary third
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  Speaker 1: quarter profit below its forecast. It cut the pop in
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  Speaker 1: the earnings targets. Sales are slumping for aircraft parts, and
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  Speaker 1: Honeywell predicted the business jet market will remain week next year.
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  Speaker 1: This fuel declines and other aerospace manufacturers like text Drawn
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  Speaker 1: they make helicopters, Incessant and Jett, General General Dynamics, it
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  Speaker 1: makes golf streams, and United Technologies Who's Prott and Whitney
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  Speaker 1: makes engines slumps and emerging markets and the oil industry
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  Speaker 1: have primp demand for business aircraft and helicopters, and in
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  Speaker 1: fact witness weakness in business jet demand is spreading to
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  Speaker 1: regions such as North America and Europe. This is what
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  Speaker 1: the CEO said today. Uh and it adds there's also
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  Speaker 1: weak sales because of Russian economic sanctions. I could go
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  Speaker 1: on and on, but it's definitely a tough report and
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  Speaker 1: a tough time for Honeywell. Next is Clovis Oncology. Uh.
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  Speaker 1: This is a company developing a drug for ovarian cancer. Uh.
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  Speaker 1: It sank as much as which was the most in
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  Speaker 1: eleven months on entry day. Basis ended up closing about
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  Speaker 1: eighteen percent down. Uh. They're trying to develop a drug
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  Speaker 1: that would compete with a drug called limpar Um from
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  Speaker 1: Astra Zeneca should it be approved. However, it was less
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  Speaker 1: than less effective than investors and analysts expected it to be.
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  Speaker 1: UM some very low efficacy readings here. Um. Actually none
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  Speaker 1: of the patients with the disease um that we're impervious
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  Speaker 1: to a certain type of chemotherapy had saw any reaction
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  Speaker 1: at all. So I'm a huge setback for for Clovis
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  Speaker 1: Oncology here, and uh, you know, some the next round
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  Speaker 1: of testing certainly be something that investors will be keeping
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  Speaker 1: an eye on. Shares of c I T Group rising today.
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  Speaker 1: Taking a look at the c I T, which of
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  Speaker 1: course lending and leasing services. Uh. The stock up one
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  Speaker 1: and a half percent thirty six dollars and ninety three
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  Speaker 1: cents for c I T Group. This has to do
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  Speaker 1: with their in their agreement to sell the aircraft leasing
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  Speaker 1: business of c I T to China's h n A
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  Speaker 1: Group price tag ten billion dollars and also saying that
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  Speaker 1: it plans to return some of that money to shareholders.
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  Speaker 1: The commercial lender once again announcing that it is going
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  Speaker 1: to sell its aircraft leasing business. As results, shares of
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  Speaker 1: c I T higher by one and a half percent. Well,
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  Speaker 1: Tyson Foods also having a pretty big slump today, more
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  Speaker 1: than ten percent. They already had this dark cloud hanging
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  Speaker 1: over their head. A lawsuit filed in Illinois District Court
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  Speaker 1: in September saying that starting a two thousand eight broiler
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  Speaker 1: chicken producers including Tyson, Pilgrims, and Sanderson colluded by sharing
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  Speaker 1: proprietary data and reducing production. And the allegations assert that
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  Speaker 1: most of the thirty billion dollar US chicken industry engaged
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  Speaker 1: in a price fixing scheme, and of course that consumers
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  Speaker 1: pay more like about fifty percent more so. What happened today, though,
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  Speaker 1: was pivotal analyst Tim Raymie wrote in a note uh
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  Speaker 1: that he wasn't alleging that Tyson colluded on pricing. Quote
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  Speaker 1: the narrative of this suit fits the fact pattern of
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  Speaker 1: poultry pricing and margins over the past seven years. Uh.
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  Speaker 1: If so, If it's true, it explains why Tyson can
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  Speaker 1: offer earnies for share guidance with a market but precision
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  Speaker 1: boasting of margins at record levels and well into the future.
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  Speaker 1: The Tyson of Old did not provide guidance. All right,
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  Speaker 1: Slash Powerful Outcomes VIX. The VIX moving higher today, advancing
• 10:22
  Speaker 1: more than three and a half percent, a gain of
• 10:25
  Speaker 1: zero point for eight, settling a thirteen point three four
• 10:29
  Speaker 1: and today's increase breaks a to day a two session
• 10:33
  Speaker 1: move lower for the volatility Index GAP. Now get oh boy,
• 10:45
  Speaker 1: take us back. In nineteen seventies, Joe Cioley the original
• 10:48
  Speaker 1: GAP jingle because Gap actually a pretty good day they did, uh,
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  Speaker 1: and it came largely on the shoulders of Old Navy
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  Speaker 1: actually UM one of their one of the brands there. Uh.
• 10:58
  Speaker 1: They reported UM same source sales gained about four percent
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  Speaker 1: in September. That was way more than an analysts projected
• 11:05
  Speaker 1: they were seeing growth of less than one percent. So
• 11:08
  Speaker 1: that was a huge beat for a pretty crucial part
• 11:11
  Speaker 1: of of the gap business. And it was actually a
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  Speaker 1: pretty important, you know, tail win for the company. Who's
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  Speaker 1: who's had some struggles lately, UM, most notably in August
• 11:21
  Speaker 1: when there was a fire at one of their distribution
• 11:23
  Speaker 1: centers in Fishkill, Uh, fish Kill in New York. And UM,
• 11:27
  Speaker 1: you know, the stock is was up about fift today. Uh,
• 11:30
  Speaker 1: it's it's trading in about twenties six dollars. That's UM,
• 11:33
  Speaker 1: you know, obviously a great improvement, but it's still hasn't
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  Speaker 1: climbed back above the multi month high it reached in August.
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  Speaker 1: So still trying to clause way back from that fire.
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  Speaker 1: But Old Navy, you know, doing its part too to
• 11:44
  Speaker 1: drag drag shares higher. Thank you very much, Bloomberg Stocks
• 11:49
  Speaker 1: reporter telling us about his stock of the day. Gap.
• 11:54
  Speaker 1: You're listening to taking Stock. I'm pim Fox my co
• 11:57
  Speaker 1: host Kathleen Hayes. This is Bloomberg Lumber. Taking Stock is
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