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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 at Bloomberg
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  Speaker 1: dot Com, the radio plus Globo Last and on your radio.
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  Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters.
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  Speaker 1: I'm Katherine Cowdery And as that closing vow sounds a
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  Speaker 1: don industrial leverage is up seventy six points, a gain
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  Speaker 1: of four tenths of a percent, trading at seventeen thousand,
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  Speaker 1: nine hundred eighteen. SMP five funded up eleven points half
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  Speaker 1: a percent at two thousand ninety nine. Then as I
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  Speaker 1: is hired by thirty six points three quarters of a
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  Speaker 1: percent at forty eight fifty nine, will gains in drug
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  Speaker 1: companies help fuel today's market advance. Cautious sentiment ease in
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  Speaker 1: mid speculation that the American economy can weather the impact
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  Speaker 1: of the UK's decision to leave the European Union. There
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  Speaker 1: have been some casualties of Brexit. Henderson Global Investors, Columbia, Thread,
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  Speaker 1: Nagle Investments and Canada Life suspended trading at least seven
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  Speaker 1: point four billion dollars of property funds. That takes a
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  Speaker 1: number of UK firms curbing redemptions to six in the
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  Speaker 1: wake of Brexit. Bill gross found manager of Jenna's Calf
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  Speaker 1: Management says news about those UK property funds should clause concern.
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  Speaker 1: This is an indication of illiquidity in the system. You know,
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  Speaker 1: central banks would counter and say all equality that you want,
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  Speaker 1: but the system basically doesn't allow liquidity to flow into
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  Speaker 1: the proper places, and certainly here in terms of these
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  Speaker 1: property funds. If if they're just one indication, then you know,
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  Speaker 1: perhaps there'll be others to follow. I I think it's
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  Speaker 1: something to worry about. Grow spoke on Bloomberg Radio and Television,
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  Speaker 1: and stocks held their games as minutes from the feder
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  Speaker 1: reserves last policy meaning indicated that May's weak jobs report
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  Speaker 1: fueled uncertainty about the economy. Data since, including report on
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  Speaker 1: the service industry today has helped rekindle investor optimism. Ten
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  Speaker 1: Your Tragedy up one thirty second with a yield of
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  Speaker 1: one point three seven percent. West Texas intermediate crude oil
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  Speaker 1: up seventy three cents of barrel one point six percent
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  Speaker 1: to forty seven thirty three. Spout gold up seven dollars
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  Speaker 1: twenty cents and OUs to thirteen sixty six Among to
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  Speaker 1: days top business stories at US airline stocks move closer
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  Speaker 1: to their biggest annual decline in five years after Credit
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  Speaker 1: Suis Group said a critical financial measure will not turn
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  Speaker 1: positive until the end of next year. It's four oh
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  Speaker 1: two on Wall Street. Let's get an update now if
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  Speaker 1: some of the other stories were following on Bloomberg Radio.
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  Speaker 1: Thank you Catherine from the Bloomberg News Room. I'm Ramie
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  Speaker 1: in essentio. The State Department says it will quote follow
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  Speaker 1: the appropriate next steps after the Justice Department makes its
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  Speaker 1: decision about whether Hillary Clinton should face charges over the
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  Speaker 1: handling over State Department emails. Here's spokesman John Kirby, Well,
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  Speaker 1: let the Justice Department uh consider the findings of the
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  Speaker 1: FBI investigation and make whatever decisions they're going to make.
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  Speaker 1: Two white police officers in Baton Rouge, Louisiana, are on
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  Speaker 1: administrative leave as the Justice Department investigates the fatal shooting
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  Speaker 1: of a black man. The police chief says the man
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  Speaker 1: who was fatally shot by police was armed, but that
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  Speaker 1: there are still questions about what happened. Attorney Edmund joy
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  Speaker 1: And represents Alton Sterling's family. What we're asking for, and
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  Speaker 1: we have other leaders who have asked for the same thing,
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  Speaker 1: is for this investigation to be taken out of the
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  Speaker 1: hands of the Baton Rouge Police Department and handed over
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  Speaker 1: to Louisiana State Police. Former Fox News anchor Gretgen Carlson
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  Speaker 1: is suing Fox News Channel chairman Roger Ales over her
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  Speaker 1: firing last month. Carlson alleges that Ales retaliated against her
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  Speaker 1: because she refused his sexual advances and complained about the harrassment.
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  Speaker 1: Carlson also accuses former morning show co host Steve Doocy
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  Speaker 1: of harassing her and The Manhattan Street corner will be
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  Speaker 1: temporarily named for longtime fashion photographer Bill Cunningham, who died
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  Speaker 1: last month. Cunningham, who took pictures of everyday people on
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  Speaker 1: the streets of New York for The Times, died June.
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  Speaker 1: The New York Times reports at the northeast corner of
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  Speaker 1: fifty Street and Fifth Avenue will be known as Bill
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  Speaker 1: Cunningham Corner. Globe News twenty four hours a day, powered
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  Speaker 1: by more than journalists and analysts in more than one
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  Speaker 1: twenty countries. From the Bloomberg News Room. I'm rainy innescent Cio, Catherine,
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  Speaker 1: thank you. Now, let's get a quick update of the
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  Speaker 1: equity benchmarks as they begin to settle down. Industrial leverage
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  Speaker 1: up seventy eight points to seventeen thousand, nine hundred eighteen.
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  Speaker 1: Smp F I founded up eleven points to two thousand
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  Speaker 1: ninety nine. Then a ZAC up thirty six points to
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  Speaker 1: forty eight fifty nine. And that's a Bloomberg business flash
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  Speaker 1: move around, motion grade motion felter move. You moved like
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  Speaker 1: they do. I've never seen anyone live that fast. Fired people.
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  Speaker 1: Let's move like you've got a purpose. That was called
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  Speaker 1: movers and shakers. It costs a little more. That name
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  Speaker 1: cracked me up. Bloomberg taking stock movers and shakers with
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  Speaker 1: pim Fox and Kathleen Hay's on Bloomberg Radio. A modest
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  Speaker 1: but definitive move higher today for the US stock market.
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  Speaker 1: Looking inside the S and P five hundred, we see
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  Speaker 1: that three hundred and eighty companies saw their share prices
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  Speaker 1: and higher, one hundred twenty one their share prices closing lower,
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  Speaker 1: just four unchanged joining us. Now our stocks that are
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  Speaker 1: Dave Wilson to kick off the movers and shakers, I
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  Speaker 1: want to mention Walgreen's Boots alliance really fast. The pharmacy
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  Speaker 1: chain came out with results for the fiscal third quarter.
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  Speaker 1: They trail analyst average estimate in the Bloomberg survey when
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  Speaker 1: it came to sales, though ernies be projections. Walgreen's boots
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  Speaker 1: down two point four percent in today's trading. But there
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  Speaker 1: are two other stocks that Walgreens talked about, at least
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  Speaker 1: the companies whose shares fared better. One of them is
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  Speaker 1: right A, which Walgreen's plans to buy for nine point
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  Speaker 1: four billion dollars. They said the deal is progressing as planned,
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  Speaker 1: and right A with a gate of one a half percent.
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  Speaker 1: And then there's Value of Pharmaceuticals, which has a partnership
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  Speaker 1: with Walgreens and the company. Walgreen said it's satisfied and
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  Speaker 1: pleased with that arrangement. Valiant shares up fifteen point six percent,
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  Speaker 1: biggest game for that stock in three months. Let's talk
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  Speaker 1: a look at the shares of Netflix down more than
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  Speaker 1: three and a quarter of a percent today, is coming
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  Speaker 1: after analyst downgrade. The shares of a Netflix. Uh, this
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  Speaker 1: of course rising, I beg your pardon. This comes after
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  Speaker 1: a day in which there was a tie up with
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  Speaker 1: Comcast announced with moved to stock higher. So today the
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  Speaker 1: stock moves lower by more than three and a quarter percent,
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  Speaker 1: and they say that there's a concern about Netflix slowing
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  Speaker 1: growth in the United States and that it's going to
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  Speaker 1: take longer for the company to meet it's a long
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  Speaker 1: term targets in the US for its streaming business. It
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  Speaker 1: was downgraded to a hole. Uh too, I beg your
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  Speaker 1: pardon from a hole to an underperformed at the Jeffreys
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  Speaker 1: and once again, Netflix down three and a quarter percent. Well,
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  Speaker 1: there are so many reasons to buy gold mining companies
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  Speaker 1: like Barrick Gold up three point four percent today, New
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  Speaker 1: mort Mining up more than two and a half percent.
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  Speaker 1: Rising gold prices improve their margins and cash flow breaksit.
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  Speaker 1: Keeping interest rates low another plus. Maybe the Fed's even
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  Speaker 1: looking at negative interest rates today though. Gold spot gold
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  Speaker 1: hitting one thousand, three and sixty three dollars of the ounds,
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  Speaker 1: a two year high, as Joni Tavis, and analyst at
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  Speaker 1: UBS in London says, gold has likely entered the early
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  Speaker 1: stages of the next bull run. This trend should now deepen,
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  Speaker 1: attracting more participants and encouraging those who have been hesitating
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  Speaker 1: to get more involved. Well, that's certainly how people get
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  Speaker 1: involved today. Dave Wilson, I'll mention one more gold producer
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  Speaker 1: whose rating was raised at Deutsche Bank to hold from selling.
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  Speaker 1: That would be ken Ross Gold and that stock up
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  Speaker 1: one per cent today was one of three medals and
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  Speaker 1: mining companies that Deutsche Bank upgraded. The other tour in
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  Speaker 1: the steel industry, one of them being new Core shares
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  Speaker 1: a four point three percent on today. That stock was
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  Speaker 1: raised to the to buy from hold, and US Steel
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  Speaker 1: which moved up to hold from cell uh Those shares
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  Speaker 1: up one pot that just like can Ross, I'll tell
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  Speaker 1: you about the shares of DuPont who mentioned them all day.
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  Speaker 1: Stock is down about one and three quarters of her
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  Speaker 1: percent on the close. DuPont was found liable for a
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  Speaker 1: man's testicular cancer in the third test case in lawsuits
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  Speaker 1: over a toxic teflon chemical that was found in Ohio
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  Speaker 1: and West Virginia waters. The spinoff of DuPont Kemos Company
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  Speaker 1: will have to bear the cost, but once again, shares
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  Speaker 1: of DuPont down one and three quarters of her percent. Well,
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  Speaker 1: airlines taking a bit of a hit today. We have
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  Speaker 1: American air down two percent, United two and a half percent,
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  Speaker 1: and it's largely because American and United were downgraded. As
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  Speaker 1: disillusion with airlines will persist among investors. According to a
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  Speaker 1: credit SWEEE analyst Julie Yates she down grade American to
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  Speaker 1: underperformed from outperformed, down graded United to neutral from outperformed,
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  Speaker 1: and she says, uh, there are negative factors. Corporate demand
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  Speaker 1: trends aren't good, incremental risk of currency exchange headwinds and
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  Speaker 1: lower trans Atlantic gields post Brexit. And she's also watching
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  Speaker 1: the price per seat that they're getting, saying the performances
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  Speaker 1: by American and United will likely underwhelmed for sustained rally
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  Speaker 1: in the sector. We think investors need more and we'll
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  Speaker 1: want to hear capacity is being cut him to drive
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  Speaker 1: improvement in unit revenues. Alright, is time now for the
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  Speaker 1: e dot com Slash Powerful Outcomes VIX. The VIX down
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  Speaker 1: today down nearly two per cent, down point three oh
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  Speaker 1: settling at fifteen point to eight. And while the VIX
• 9:49
  Speaker 1: usually tracks a recent volatility, something interesting happened last week.
• 9:54
  Speaker 1: Actual volatility increased the amount of volatility implied by option
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  Speaker 1: prices actually the line. That's as if people were looking
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  Speaker 1: in the market's rear view mirror. All right, Dave here,
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  Speaker 1: my name is Dave. Just what do you think you're doing.
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  Speaker 1: We're going for the prankdown, Will Dave Hey Mr Wilvium,
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  Speaker 1: Cavium and Qualcom on m and a marriage potentially and
• 10:25
  Speaker 1: in calviums a maker semiconductors using server computers, wireless networking equipment,
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  Speaker 1: and other devices. Company shares listed under the ticker c
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  Speaker 1: a VM. Cavians timing over the years has been less
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  Speaker 1: than ideal. The company was founded in two thousand one
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  Speaker 1: while a bubble and technology shares was bursting, and went
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  Speaker 1: public and made two thousand seven near the end of
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  Speaker 1: a bowl market in US stocks, and as the ball
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  Speaker 1: gave way to the worst bear markets since the Great Depression,
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  Speaker 1: shares of Cavyum fella as much as forty seven percent
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  Speaker 1: from their initial price. Then U s stocks started another
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  Speaker 1: ball market, and the company shares runs as much as tenfold.
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  Speaker 1: That brings us to June of last year when the
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  Speaker 1: stock peaked. After that, Cavium retreated as much as fifty Today,
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  Speaker 1: the stock recrups some of that loss. After c ls
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  Speaker 1: A described the company as the best tagover opportunity for
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  Speaker 1: the mobile phone chipmaker. Qualcom analyst Christopher Caso wrote in
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  Speaker 1: a report that Cavium may be particularly attractive after the
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  Speaker 1: stock slide. Cavium rose today by seven point two percent.
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  Speaker 1: That was one of the day's biggest gains in the
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  Speaker 1: Russell two thousand in decks. And I just want to
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  Speaker 1: follow up on something you said, Pim talking about this
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  Speaker 1: tafflon case. Camors, which actually has to pay, was the
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  Speaker 1: worst performer in the Russell two thousand by far, stock
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  Speaker 1: down twenty two and a half percent, biggest one day
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  Speaker 1: law since the company was spun off about a year
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  Speaker 1: ago from DuPont. Thank you very much. Dave Wilson, Bloomberg
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  Speaker 1: Stocks comm Is. Send an email at d Wilson at
• 11:51
  Speaker 1: Bloomberg dot net and become a smarter investor. Sign up
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  Speaker 1: for his daily free email newsletter. You're listening to taking
• 11:59
  Speaker 1: stock is Bloomberg does. The end of Hillary Clinton's email
• 12:06
  Speaker 1: investigation represents the beginning of something that has eluded the
• 12:09
  Speaker 1: publican party for months, unification behind its presumptive presidential nominee.
• 12:14
  Speaker 1: Up next, Bloomberg's Washington Bureau chief Megan Murphy