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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: This is a Bloomberg Business Black Folks from converge x
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  Speaker 1: and Pan mass challenge ringing the closing bell of the
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  Speaker 1: New York Stock Exchange, the Dow Lower SMP five hundred index,
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  Speaker 1: NASTAC both advancing little change for US stocks as investors
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  Speaker 1: await tomorrow mornings all important July Jobs Report. Cal Rickadona's
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  Speaker 1: chief US economist at Bloomberg Intelligence. He was interviewed right
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  Speaker 1: here on taking stock census is at a hundred and
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  Speaker 1: eighty thousand tomorrow. My modeling didn't get me too far
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  Speaker 1: off of that, but I'm slightly weaker at about a
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  Speaker 1: hundred and seventy thousand for my own estimate, and that's
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  Speaker 1: enough to keep the economy moving in the right direction.
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  Speaker 1: But it is questionable whether we're getting enough income growth
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  Speaker 1: in the economy to actually support consumer spending in the
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  Speaker 1: back half of the year UH at a similar pace
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  Speaker 1: to what we saw in the second quarter when it
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  Speaker 1: grew over And of course that number eight thirty AM
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  Speaker 1: Wall Street Time complete coverage into the report and analysis
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  Speaker 1: right after we get the number right here on Bloomberg,
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  Speaker 1: Mark Karney unleashed a package of stimulus, including the Bank
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  Speaker 1: of England's first interest rate cut in seven years, and
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  Speaker 1: said more reason could come as Britain feels the effects
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  Speaker 1: of its decision to leave the European Union. Officials, led
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  Speaker 1: by the BOE Governor, voted unanimously to reduce the benchmark
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  Speaker 1: by twenty five basis points to a record low zero
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  Speaker 1: point to five percent. US equities SeaWorld Entertainment tumbling today
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  Speaker 1: by thirteen point to one percent after the company reported
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  Speaker 1: lower theme park attendants in Orlando and cut its earnings
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  Speaker 1: outlook for the year. Callaway Golf higher after Nike announced
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  Speaker 1: plans to abandon the golf equipment market, removing a competitor
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  Speaker 1: from the industry. Today we had Callaway up by four percent,
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  Speaker 1: Nike was up by one tenth of one percent. Callaway
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  Speaker 1: scored its biggest terday gain in almost six months. Nike
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  Speaker 1: will continue to offer footwear and apparel for the sport
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  Speaker 1: Gold up to twenty the ounced gain of two tenths
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  Speaker 1: of one percent. And now look at the other stories
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  Speaker 1: making news. Charlie. Thank you from the Bloomberg news Room.
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  Speaker 1: By Mark Crumpton, former House speaker new Gingridge says Donald
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  Speaker 1: Trump needs to stay on message. Gingridge made his comments
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  Speaker 1: on Fox News. He has to keep her every morning,
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  Speaker 1: he has to get away. Can say, the only two
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  Speaker 1: people I'm fighting with the Barack Obama and Hillary Clinton.
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  Speaker 1: And you have to take on Obama because clear Hill
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  Speaker 1: would be the third term, so you've got to win
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  Speaker 1: the argument. But whether or not this has been good.
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  Speaker 1: But other than those two people, every time he talks
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  Speaker 1: about anyone else, it is an enforced fumble, if you like,
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  Speaker 1: or interception as I would have said, but it's clearly
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  Speaker 1: a mistake. Hillary Clinton leads Donald Trump by double digits
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  Speaker 1: in Pennsylvania, according to a new Franklin and Marshall College
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  Speaker 1: pole of likely voters prefer mrs Clinton to thirty five
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  Speaker 1: for Mr. Trump. Florida Governor Rick Scott says he'll do
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  Speaker 1: whatever it takes to win the fight against the zeke
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  Speaker 1: of IRUs. The governor says he's frustrated with Washington's response
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  Speaker 1: so far, we knew this was gonna happen. We knew
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  Speaker 1: hurricane seasons coming, we knew rainy season was coming, so
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  Speaker 1: and they knew they're going to recess. So the president
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  Speaker 1: in Congress have got to figure out work how to work.
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  Speaker 1: Miami Dade County began spraying for mosquitos this morning. Swarms
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  Speaker 1: of drones are descending on New York starting Friday. On
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  Speaker 1: Governor's Island. More than one hundred of them will zip
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  Speaker 1: across the sky, some as fast as sixty miles per hour.
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  Speaker 1: At the second annual U S National Drone Racing Championships.
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  Speaker 1: Up for grabs bragging rights, cash prizes, and a chance
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  Speaker 1: to compete on Team USA at the first ever World
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  Speaker 1: Championships for Drone Racing this October in Hawaii. Global News
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  Speaker 1: twenty four hours a day, powered by more than journalists
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  Speaker 1: and analysts in more than one twenty countries. I'm Mark Crompton,
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  Speaker 1: this is Bloomberg, Charlie, and we thank you and again
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  Speaker 1: recapping SMP five hundred index higher, a little changed, up,
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  Speaker 1: half a point down, industrials down three points, a drop
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  Speaker 1: there of less than point one percent. I'm Charlie Pellett,
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  Speaker 1: and that's a Bloomberg business flash. Move around, motion, create, promotion,
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  Speaker 1: AD move you move like they do. I've never seen
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  Speaker 1: anyone move that back hired people. Let's move like to
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  Speaker 1: get a purpose. He's called movers and shakers. They cost
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  Speaker 1: a little more, and that name cracked me up. Bloomberg
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  Speaker 1: taking stock movers and shakers with Pim Fox and Kathleen
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  Speaker 1: As on Bloomberg Radio, Well com and even draw here.
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  Speaker 1: What's moving and shaking in the stock market today? Jumping
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  Speaker 1: into the s P five hundred, we see two hundred
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  Speaker 1: fifty eight gainers at the close, two hundred thirty nine losers,
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  Speaker 1: eight stocks closing and changed. Dave Wilson are Stocks Editor.
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  Speaker 1: He's here to walk through the day's big movers and
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  Speaker 1: shakers with us. Just want to give everybody a heads up.
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  Speaker 1: We are going to be uh going to uh the
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  Speaker 1: Pentagon this afternoon to take President Obama's press conference live.
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  Speaker 1: Will be covering that from beginning to end. Supposed to
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  Speaker 1: start around four fifteen Wall Street time. Uh. Busy, busy
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  Speaker 1: day for the president. We'll see how closely he adheres
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  Speaker 1: to that. However, we just want to give you heads up.
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  Speaker 1: We'll be going to that as soon as the President
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  Speaker 1: starts speaking. Now it's time for you to start speaking.
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  Speaker 1: Dave Wilson, what's your leading mover and shaker? Well, I
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  Speaker 1: talked about it earlier in the program. Gotta come back
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  Speaker 1: to it, and that would be Met Life. The insurers
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  Speaker 1: operating earnings trailed analysts average estimate in a Bloomberg survey
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  Speaker 1: for the fourth straight quarter, and this time around the
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  Speaker 1: gap was the biggest of all, forty two cents of
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  Speaker 1: share and revenue two billion dollars lower than the average projection.
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  Speaker 1: And you haven't seen a gap like that in more
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  Speaker 1: than a decade, accord in our data. And they're being
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  Speaker 1: hurt by lower interest rates, which means they don't have
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  Speaker 1: the kind of investment income they had a few years back. Now,
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  Speaker 1: MetLife plans to reduce costs by billion dollars a year
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  Speaker 1: by the end of nineteen, and that means job cuts. Nonetheless,
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  Speaker 1: MetLife down eight point seven percent in today's trading, also
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  Speaker 1: rivals Prudential Financial and Lincoln National, both falling more than
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  Speaker 1: four percent. Linked In let me tell you about LinkedIn.
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  Speaker 1: The share is basically unchanged after reporting second quarter results
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  Speaker 1: that exceeded analysts to estimates, earning a dollar thirteen a share.
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  Speaker 1: Analysts estimates were for earnings of seventy eight cents to share. Also,
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  Speaker 1: second quarter revenue nine hundred and thirty two million versus
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  Speaker 1: estimates of eight hundred and ninety eight million premium subscription
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  Speaker 1: revenue of a hundred and fifty five billion dollars a
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  Speaker 1: second quarter. Cumulative members are two hundred four hundred and
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  Speaker 1: fifty million. Beggar pardon Uh. They're giving no guidance for
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  Speaker 1: the future, obviously because UH the transaction. The Microsoft acquisition
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  Speaker 1: of LinkedIn for a hundred and ninety six dollars a
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  Speaker 1: share is scheduled to conclude at the end of this year.
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  Speaker 1: That deal was announced June. Shares of LinkedIn trading at
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  Speaker 1: a hundred dollars and twenty cents today on the close
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  Speaker 1: of Microsoft's price for the acquisition is a hundred and
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  Speaker 1: ninety six dollars a share, or more than twenty four
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  Speaker 1: billion dollars. Well, let's look at a gainer. Kellogg Kell Company,
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  Speaker 1: the world's largest serial company, raised its annual earnings forecast.
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  Speaker 1: It's citing cost cutting programs, belt tightening measures, among other things,
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  Speaker 1: that are helping to offset its slumping breakfast business. Here's
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  Speaker 1: one of the key numbers. Profit going to be four
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  Speaker 1: dollars and eleven cents to four dollars and eighteen cents
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  Speaker 1: to share this year after you take up currency UH
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  Speaker 1: impacts and had previously projected four dollars to four dollars
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  Speaker 1: seven cents. It's embracing zero based budgeting. It's an increasingly
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  Speaker 1: popular form of cost cutting in the food industry in
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  Speaker 1: order to boost its margins. The growth of wrinkles potato
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  Speaker 1: chips is helping less dar than expected business in Venezuela.
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  Speaker 1: But I just think it's interesting because they're bottom line.
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  Speaker 1: They're trying to turn around their struggling morning foods division.
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  Speaker 1: It's been hurt by this long slump and newest cereal sales,
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  Speaker 1: you know, things like Special K and fruit loops or
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  Speaker 1: what they sell. And they're hoping that maybe adults are
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  Speaker 1: going to start embracing this as a snack rather than
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  Speaker 1: a breakfast food. Uh. Particularly ob, the CEO said, the
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  Speaker 1: cereal slowdown is seen in the Special K brand because
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  Speaker 1: dieters are shifting to a more holistic view of wellness
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  Speaker 1: instead of merely counting calories. It looks like he's realizing that, hey,
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  Speaker 1: people look at carbohydrates, that looking at sugar, They looking
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  Speaker 1: at all kinds of things, and it's just getting tougher
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  Speaker 1: to sell a lot of these breakfast cereals. Dave in
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  Speaker 1: this kind of new understanding of metabolism and food like
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  Speaker 1: kell was up. Take a look at Royal Caribbean Cruises.
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  Speaker 1: You know, this is the same stock that two days
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  Speaker 1: ago fell six point three percent after the company cuts
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  Speaker 1: full year earnings forecast. We found out that yesterday Chairman
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  Speaker 1: and chief executive Richard Fain bought two million dollars of
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  Speaker 1: his company shares. Today in the wake of that purchase,
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  Speaker 1: which was the slows and irregulatory filing, Royal Caribbean up
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  Speaker 1: six point six percent, and that means two million dollars
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  Speaker 1: stock purchase adds up to a billion dollar increase almost
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  Speaker 1: in Royal Caribbeans market bay. That's quite a return. Alright.
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  Speaker 1: It's time now for the volatil the Index Report. It's
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  Speaker 1: brought to you by the cbo E cbo VIX Options
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  Speaker 1: com Slash Powerful Outcomes vix UH. The VIX lower today
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  Speaker 1: down about three and a quarter percent, down zero point
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  Speaker 1: four three, settling at twelve point forty four. Trading volumes
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  Speaker 1: for the month of July is showing that the cbo
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  Speaker 1: E VIX futures contracts reached record levels in the month
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  Speaker 1: of July. All Right, Dave, you're up. Uh hi, my
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  Speaker 1: name is Dave. Just what do you think you're doing.
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  Speaker 1: We're going for the Dave, Dave. Okay. Another company suffering
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  Speaker 1: from disappointing results Hughton Mifflin Hardcourt. Dave, that's right. I
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  Speaker 1: mean they traced their history back to eighteen thirty two,
• 10:32
  Speaker 1: when the predecessor to the textbook publisher was founded in Boston.
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  Speaker 1: Hownt Mefflin Hardcourt's current tenure in the U S stock
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  Speaker 1: markets for shorter less than three years. Company went to
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  Speaker 1: public in November. If they're going through bankruptcy. The company
• 10:46
  Speaker 1: was taken public by creditors, which were given full ownership
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  Speaker 1: in exchange for canceling secure a debt. Now. Howton Mifflin's
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  Speaker 1: ticker is h m h C. Company shares more than
• 10:56
  Speaker 1: double from their initial price through journal last year when
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  Speaker 1: they paid. Since then, the shares have given back most
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  Speaker 1: of their gains. Howton Mifflin's second quarter results accelerated the retreat.
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  Speaker 1: The report showed a wider loss and lower revenue than
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  Speaker 1: analysts expected based on a Bloomberg survey. And on top
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  Speaker 1: of that, the company reduced it's full of your sales forecast.
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  Speaker 1: But to put it together and you've got Howton Mifflin
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  Speaker 1: shares down thirteen percent on the day. That was the
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  Speaker 1: biggest one day low since the company went public, and
• 11:25
  Speaker 1: the stock got really close as low as fourteen forty.
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  Speaker 1: That was actually the lowest price since its first day
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  Speaker 1: of trading back in Thank you very much, David Wilson,
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  Speaker 1: Bloomberg Stocks Commas telling us everything we need to know
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  Speaker 1: about h M h Hoton Mifflin Hardcourt. H M h C.
• 11:43
  Speaker 1: Let's be precise on that sector. Absolutely. I was just
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  Speaker 1: giving you the name of the company that they go by,
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  Speaker 1: But that's fine, h M HC. You're listening to taking Stock.
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  Speaker 1: I'm pim Fox, my co host Kathleen Hayes. We await
• 11:56
  Speaker 1: a news conference five President Obama coming from the Pentagon.
• 11:59
  Speaker 1: We will bring that to you live. This is Bloomberg.
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  Speaker 1: Exoptions and Futures. Volatility can be harnessed with CBOI of
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