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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: This is a Bloomberg Business Flash bloom Bloomberg World Headquarters,
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  Speaker 1: Signed Charlie Pellet. There you have its sound of the
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  Speaker 1: closing dollars. We wrap up trading on this Monday, May nine, fan.
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  Speaker 1: We are looking at a down day for the Dow,
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  Speaker 1: an update for the SMP five hundred index, and an
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  Speaker 1: update for the Nestack Composite Index. SEC Enforcement divisions said
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  Speaker 1: Russef impeachment motion can proceed. Equities advanced today gains by
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  Speaker 1: healthcare and technology shares offset disappointing trade data from China
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  Speaker 1: uh and prospects for higher US interest rates, drag commodities,
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  Speaker 1: lower oil extended to clients after shifting winds moved wildfires
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  Speaker 1: away from oil sands facilities in Canada's Alberta region crude
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  Speaker 1: oil down today by two point eight percent, falling today
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  Speaker 1: by a dollar twenty three to forty three forty two
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  Speaker 1: for a barrel of West Texas Intermediate. Saudi Arabia will
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  Speaker 1: probably keep producing crude at near record levels under its
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  Speaker 1: newly appointed oil minister Khalid al Fali, as the world's
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  Speaker 1: largest exporter, sticks with his predecessor's policy of defending market
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  Speaker 1: share against higher cost shale. Bill O'Neil's is with Logic Advisers.
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  Speaker 1: He was interviewed today right here on taking style. He
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  Speaker 1: wanted to keep that market Chairman. That's what authorities have
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  Speaker 1: been doing. They've been doing everything possible to knock out
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  Speaker 1: the shale producers in the US, with as we just
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  Speaker 1: pointed out, some modest success. Uh. He probably will be
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  Speaker 1: even more so. Also, I think he will be left
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  Speaker 1: likely to participate in the oil freeze talks that are
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  Speaker 1: coming up in early June. They had that first round
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  Speaker 1: of tale uh. Mr alphaide uh appointment appears to be
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  Speaker 1: embarished for that as well. Ask some p up today
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  Speaker 1: by a point to gain a point one percent. Now,
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  Speaker 1: let's look at other news from around the world on
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  Speaker 1: Bloomberg Radio Charlie, Thank you from the Bloomberg news Room
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  Speaker 1: by Mark Crumpton. A joint analysis by the Urban Brookings
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  Speaker 1: Tax Policy Center and the Urban Institute Health Policy Center
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  Speaker 1: finds that Bernie Sanders tax and spending proposals would add
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  Speaker 1: eighteen trillion dollars to the federal deficit over a decade.
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  Speaker 1: The study says that negative effects on the US economy
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  Speaker 1: could quote be severe. Sanders would also raise taxes by
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  Speaker 1: more than fifteen trillion dollars over ten years, with most
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  Speaker 1: of that paid for by upper income earners. Senator Sanders
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  Speaker 1: spoke today at a rally in Atlantic City, New Jersey.
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  Speaker 1: There are nine more primaries and Caucus's remaining from a
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  Speaker 1: throw one in West Virginia. We hope to win the
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  Speaker 1: up and then on June seven, there is the big
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  Speaker 1: day because it's New Jersey of California. But the math
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  Speaker 1: is against Senator Sanders in his race for the White House.
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  Speaker 1: Officials in Western Canadas say they're cautiously optimistic that weather
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  Speaker 1: conditions will allow them to finally contain a huge wildfire.
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  Speaker 1: It is still unsafe for anyone who is not a
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  Speaker 1: first responder to be inside their kids, that's Alberta Premier
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  Speaker 1: Rachel Nutley. More than ninety thousand people have been forced
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  Speaker 1: from their homes in the Fort McMurray area. Officials say
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  Speaker 1: censors that monitor energy usage, overcrowding, and whether a handicap
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  Speaker 1: accessible entrance is blocked are being installed at the historic
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  Speaker 1: brooklyn Borough Hall. The Daily News reports the monitoring system
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  Speaker 1: is part of a new pilot program, Global News twenty
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  Speaker 1: four hours a day, powered by our journalists in more
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  Speaker 1: than one hundred fifty news bureaus around the world. From
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  Speaker 1: the Bloomberg News Room, I'm Mark Crumpton, Charlie, and we
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  Speaker 1: thank you and again recapping a mixed picture for stocks.
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  Speaker 1: The down lower down thirty four points or top of
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  Speaker 1: two tenths of one percent, SMP five hundred index up
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  Speaker 1: one point, a gain of point one percent. I'm Charlie Peloton.
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  Speaker 1: That's a Bloomberg business flash move around most and creates
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  Speaker 1: emotion at the move they do. I've never seen anyone
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  Speaker 1: move that back card Peoplet's move like you've got a purpose.
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  Speaker 1: That he was called movers and shakers. They cost a
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  Speaker 1: little more. That name cracked me up. Bloomberg taking stock
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  Speaker 1: movers and shakers with pim Fox and Kathleen As on
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  Speaker 1: Bloomberg Radio Movers and Shakers her Monday, May the ninth,
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  Speaker 1: twenty sixteen, two hundred and ninety issues of the SMP
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  Speaker 1: five index advanced, two hundred and twelve decline, and three
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  Speaker 1: remain unchanged. Dave Wilson, Bloomberg Stocks Commas Joining you now
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  Speaker 1: for Movers and Shakers. Dave Wilson, Well, I'll tell you
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  Speaker 1: it's amazing what a difference today can make. You know,
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  Speaker 1: you go back to Friday. Endo Pharmaceutical comes out, cuts
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  Speaker 1: their revenue and Ernie's estimates, shares fall thirty nine percent,
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  Speaker 1: and other companies in the generic drug business go down
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  Speaker 1: too because Endo says they're seeing more pressure on prices. Well, today,
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  Speaker 1: the world's biggest makeup generics table pharmaceutical industries comes out
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  Speaker 1: and says, we're not seeing that. In other words, as
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  Speaker 1: they put it, Tava has not seen any fundamental change
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  Speaker 1: or worsening in the pricing environment. And that was the
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  Speaker 1: head of the company's generics Madison's unit that made that
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  Speaker 1: comment to analysts on a conference call. Uh So, Tavia
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  Speaker 1: shares up five percent and you a rebound in other
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  Speaker 1: generic companies. I mean Alegan, notably with a six percent
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  Speaker 1: game to have a reaffirm that they expect to complete
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  Speaker 1: their forty and a half billion dollar purchase of Allgan's
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  Speaker 1: generic's business by the end of June. Now you look
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  Speaker 1: the Allgans, the second biggest game in the sandport, and
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  Speaker 1: the biggest one belongs to another company in that business,
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  Speaker 1: Malancroft up six point one percent on the day. I'll
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  Speaker 1: tell you about a stock that fell today, Freeport mcmarhon Dave,
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  Speaker 1: I know you've been following this as well, down more
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  Speaker 1: than ten and a half percent today. Freeport mcmaren agreeing
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  Speaker 1: to sell its Democratic Republic of Congo copper Mind to
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  Speaker 1: China malibd in them for two point six five billion dollars.
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  Speaker 1: Freeport McMahon is trying to reduce debts that it had
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  Speaker 1: racked up during the commodities boom. China Molybdenum is going
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  Speaker 1: to acquire Freeports indirect fifty six percent stake in the
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  Speaker 1: Mind it produces cobalt once again. Shares of Freeport macaron
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  Speaker 1: down ten and a half percent. But I'll tell you
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  Speaker 1: about a turnaround. You look at Sophoby's the auction house.
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  Speaker 1: You know they had a wider first quarter of loss
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  Speaker 1: than Annelison and Bloomberg survey. We're expecting revenue trail the
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  Speaker 1: average estimate by the wise more than three years. Fairness
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  Speaker 1: stock goes down right well. Comedy comes out and says
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  Speaker 1: an investor which didn't name, may raise his steak to
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  Speaker 1: as much as ten percent. So that was the sort
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  Speaker 1: of thing that got people's attention. And Sothoby shares up
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  Speaker 1: six percent on the day. I just mentioned Cole's. The
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  Speaker 1: shares move higher today by almost two percent, maybe as
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  Speaker 1: a preview for what we're going to get later on
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  Speaker 1: in the week. Best Buy also up two percent today,
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  Speaker 1: and we know that retail sales will be coming out
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  Speaker 1: on Friday. And Macy's shares also moved higher today. They
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  Speaker 1: were about a tenth of a percent, uh two tents
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  Speaker 1: of a percent I made departing thirty seven dollars seventy
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  Speaker 1: one cents. But retail sales Macy's reporting on Wednesday, and
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  Speaker 1: then the government's retail sales report will be on Friday.
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  Speaker 1: It's not a terribly busy week for earnings, but we
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  Speaker 1: did get results today out of Tyson Foods, the meat producer.
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  Speaker 1: UH first quarter profit and revenue beating estimates. They raised
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  Speaker 1: their full yer forecast. Their benefited from lower prices for
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  Speaker 1: feed and animals, so their private margins are going up,
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  Speaker 1: and so did their shares today. Tyson Foods up one
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  Speaker 1: and a half percent. And I'll just tell you about Allergan,
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  Speaker 1: of course, the maker of botox. Yes, Algan rising the
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  Speaker 1: most this year, beating the games in many of the
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  Speaker 1: farmer sectors. The shares of Allergan today up nearly six percent. Uh.
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  Speaker 1: And I believe a lot of this has to do
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  Speaker 1: with the clubs, right, Yes, I mentioned that they were
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  Speaker 1: figuring that deal gets done by the end of June,
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  Speaker 1: so definitely a plus there. Gotta mentioned London Club. I mean,
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  Speaker 1: certainly the story of the day. Shares have fallen thirty
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  Speaker 1: five percent. Founder and chief executive RENEWL Laplanche resigned from
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  Speaker 1: the online finance company Lending Club found a twenty two
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  Speaker 1: million dollars sailed loans. Tw a single investor was at
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  Speaker 1: odds with that. Investors expressed instructions. Thank you very much,
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  Speaker 1: Dave Wilson. Right now, time for the Volatility Index Report.
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  Speaker 1: about one and a half percent, lower by zero point
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  Speaker 1: to two, settling at fourteen point uh eight. But having
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  Speaker 1: said that, we're seeing a lot of heavy trading right
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  Speaker 1: around that open interest level of fifteen, and that may
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  Speaker 1: indicate that while earnings releases have calmed down for at
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  Speaker 1: least a moment, that many professional investors are taking advantage
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  Speaker 1: of lower volatility to purchase some at a decreased price.
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  Speaker 1: All right, Dave, you're my name is Dave. Just what's
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  Speaker 1: do you you think you're doing? We're going for the prankdown? Wilson,
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  Speaker 1: Dave da Mr Wilson, Dave Wilson, Busted I p o S.
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  Speaker 1: I think that's gonna be another area of your specialty,
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  Speaker 1: including your music. Well, it's certainly turning out that way
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  Speaker 1: because many companies featured as Stock of the Day r
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  Speaker 1: and deed Busted I p o S whose shares have
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  Speaker 1: dropped below their initial public offering price. Now some companies
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  Speaker 1: escaped the status, and today's pick is one of them.
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  Speaker 1: It's the online home furnishings retailer Wayfair, whose ticker is
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  Speaker 1: a single letter W. Wayfair first sold stock publicly in
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  Speaker 1: October fourteen at twenty nine dollars a share. The I
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  Speaker 1: p o went bust within three weeks, and the shares
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  Speaker 1: eventually fell as much as from their initial price. Last year,
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  Speaker 1: Wayfair made up the losses and then some. The stock
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  Speaker 1: roses highest fifty six dollars eighty four cents last August,
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  Speaker 1: and not everyone appreciated the rebound. Case. Capital's Whitney Tilson
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  Speaker 1: said in November that the company was as big as
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  Speaker 1: short position by far. Tillson compared Wayfair to lumber liquidators
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  Speaker 1: whose UH products got into trouble with US regulators because
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  Speaker 1: they contained too much formal to height at least some
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  Speaker 1: of their wood products did. His beat against the stock
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  Speaker 1: hasn't paid off the same way though. Wayfair report at
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  Speaker 1: first quarter results today. While the company's lost with Wired
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  Speaker 1: in the animost average estmate in Bloomberg Survey revenue beat projections,
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  Speaker 1: the results sent the shares to a gain of ten percent,
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  Speaker 1: and that's the second straight advance of ten percent plus
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  Speaker 1: after an earning his report, and it's actually today's gain
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  Speaker 1: is the biggest since the one that followed the fourth
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  Speaker 1: quarter results. Thank you very much, Dave Wilson Wayfair based
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  Speaker 1: in Boston, home of Bloomberg. Indeed Dave Wilson Bloomberg stocks
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  Speaker 1: commas send him an email d Wilson at Bloomberg dot
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