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

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  Speaker 1: For more global business news twenty four hours a day,
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  Speaker 1: this is a Bloomberg Business Block. And there you have
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  Speaker 1: a sound of the closing tel of the New York
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  Speaker 1: Stock Exchange on this Tuesday, June seventh. Folks from chummera
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  Speaker 1: investment corporation, ringing that closing bell. We are brought to
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  Speaker 1: Visit T two computing dot com for more information. Stocks
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  Speaker 1: faded into the close, the SMP five hundred index clinging
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  Speaker 1: to a ten month high. Bank shares slumping in late trading,
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  Speaker 1: the SMP up two points at the close to down
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  Speaker 1: industrials up twenty points, the gain of point one percent.
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  Speaker 1: The SMP also up by point one percent. NASDAK fell
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  Speaker 1: by one tenth of one percent. The SMP five hundred
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  Speaker 1: index did trim in the advance of five tenths of
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  Speaker 1: one percent. NASTACK turned negative, and late trading crew jumping
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  Speaker 1: about fifty dollars of barrel, pushing energy shares to a
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  Speaker 1: seven month high crewed at fifty eight, up seventy eight cents,
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  Speaker 1: a gain of one point six percent. Ralph Studeley, as
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  Speaker 1: head of investment strategy at b n Y Melan, moments
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  Speaker 1: ago here on taking stock, he talked to us about
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  Speaker 1: the interest rate environment. There's certainly the reality that we're
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  Speaker 1: going to be facing a rising interest rate environment at
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  Speaker 1: some point. It's just a matter of when right. The
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  Speaker 1: market doesn't seem to think that the Fed is gonna
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  Speaker 1: do anything in Jill, in June, excuse me, and less
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  Speaker 1: likely in July. That's mostly because of there's no scheduled
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  Speaker 1: press conference. Um. But Yellen's comments yesterday give us some
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  Speaker 1: belief that will most likely see something this year, and
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  Speaker 1: there's a lot of you know, people out there that
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  Speaker 1: believe we'll see one or two rises. Navastar International surging
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  Speaker 1: the most in more than three years after the truck
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  Speaker 1: maker reported a surprise quarterly profit. Shares of Navastar up
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  Speaker 1: nineteen point five percent. Valiant Pharmaceuticals International plunge today as
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  Speaker 1: the new CEO, Joseph Papa, cut twenty sixteen earnings and
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  Speaker 1: sales forecast. Valiant down today by fourteen point six percent.
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  Speaker 1: Gold down a dollar twenty a dropped there of point
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  Speaker 1: one percent four o two on Wall Street. Now we'll
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  Speaker 1: look at other news from around the world. Bom Bloomberg Radio, Charlie,
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  Speaker 1: thank you from the Bloomberg News room. I Mark Crumpton.
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  Speaker 1: It's the last big day of primaries in the sixteen
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  Speaker 1: presidential race, but voters casting ballots in California and five
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  Speaker 1: other states know their decisions will be more symbolic than impactful.
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  Speaker 1: The Associated Press is determined Hillary Clinton has enough delegates
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  Speaker 1: to be the Democratic Party's presidential nominee. Senator Bernie Sanders
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  Speaker 1: is vowing to stay in the race until next month's
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  Speaker 1: convention in Philadelphia. As for the presumptive Republican nominee, Senate
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  Speaker 1: Majority Leader Mitch McConnell says Donald Trump needs to quote
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  Speaker 1: start talking about the issues that the American people care about.
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  Speaker 1: Time to quit attacking various people that you competed with,
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  Speaker 1: or various minority groups in the country, and get all method.
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  Speaker 1: Senate Minority Leader Harry Reid criticized Republican lawmakers today, saying
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  Speaker 1: they aren't helping to fund the battle against the ZEKEA virus,
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  Speaker 1: and mosquitoes are going to be here in big time.
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  Speaker 1: But by the time we publicly talk about giving his money,
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  Speaker 1: the mosquitoes will have died or gone home. President Obama
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  Speaker 1: has asked Congress for one point nine billion dollars to
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  Speaker 1: combat the spread of Zeka. The last known living nine
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  Speaker 1: eleven search dog has died in a Houston suburb at
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  Speaker 1: the age of sixteen. Brittany, a Golden Retriever, was two
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  Speaker 1: years old when she and her handler were sent to
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  Speaker 1: the ruins of the World Trade Center following the terrorist attacks.
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  Speaker 1: They spent ten days at the scene searching for human remains.
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  Speaker 1: Global News twenty four hours a day, powered by our
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  Speaker 1: undred journalists in more than one hundred fifty news beer
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  Speaker 1: rose from around the world. From the Bloomberg News Room,
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  Speaker 1: I'm Mark Crumpton, Charlie, and we thank you and again
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  Speaker 1: recapping move higher for the SMP five hundred index up
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  Speaker 1: two points to twelve. That was a gain of one
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  Speaker 1: tenth of one percent. Down industrials also advancing by one
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  Speaker 1: tenth of one percent as that declined one tenth of
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  Speaker 1: one percent. I'm Charlie Pellett, and that's a Bloomberg Business flash.
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  Speaker 1: Move around motion creates emotionally move move like they do.
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  Speaker 1: I've never seen anyone move that back tide. Let's move
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  Speaker 1: like you've got a purpose. That was called movers and shakers.
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  Speaker 1: They cost a little more about that name cracked me up.
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  Speaker 1: Bloomberg taking stock movers and Shakers with Pim Fox and
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  Speaker 1: Cat Leanay's on Bloomberg Radio. We're broadcasting line today if
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  Speaker 1: in Pershing's inside TwixT conference with the hired Regency in Orlando,
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  Speaker 1: and of course we're gonna be here again tomorrow. We're
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  Speaker 1: also joined now by our Stocks editor Dave Wilson. He's
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  Speaker 1: back Bloomberg World headquarters in New York City. Let's start
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  Speaker 1: been taking a look at the S and P five hundred,
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  Speaker 1: where we see three or two companies whose share prices
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  Speaker 1: closed higher two hundred, one lower, two unchanged. Dave, take
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  Speaker 1: it away. What are you looking at that's moving and shaken? Well.
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  Speaker 1: We had a story break in late trading about F
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  Speaker 1: five Networks. This is a company that makes a networking
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  Speaker 1: equipment and it's writers reporting that F five has hired
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  Speaker 1: Goldman Sacks after being approached by possible bidders, and the
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  Speaker 1: story cited people familiar with the matter uh F five
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  Speaker 1: working with Goldman to respond to the interest that's out
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  Speaker 1: there and decide on next steps. UH. Interested parties were
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  Speaker 1: not identified. F five and Golnment both declining to comment
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  Speaker 1: to Royal's But we're talking about a company that's now
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  Speaker 1: at eight point three billion dollars in market values, so
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  Speaker 1: it would be a pretty substantial deal. And F five
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  Speaker 1: networks with a game of twelve point six percent. In
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  Speaker 1: the wake of this report, let me tell you about
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  Speaker 1: the shares of Biogen plunging the most in almost a
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  Speaker 1: year after an experimental drug for multiple sclerosis that investors
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  Speaker 1: as well as patients had hope might alter the course
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  Speaker 1: of the neurological disease. Well, the drug failed in midstage trials.
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  Speaker 1: Shares of Biogen down more than twelve and a half percent.
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  Speaker 1: The drug missed both the main and secondary goals for
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  Speaker 1: treating the disorder, as according to a report from Biogen.
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  Speaker 1: Shares a Biogen down more than twelve and a half
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  Speaker 1: percent today. Shares of Pulti Group, major homebuilder, up about
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  Speaker 1: three points six percent today. Pretty easy to see why
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  Speaker 1: Elliott Management Court has taken stake in Paulty, and it,
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  Speaker 1: of course, in the past, has faced criticism from it's
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  Speaker 1: the biggest investor Elliott recently wortant to say taken the
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  Speaker 1: position the company. That's a Pulty setting statement. We welcome
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  Speaker 1: dialogue with all of our shareholders, and in fact, the
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  Speaker 1: home builder's co founder and largest shareholder, Bill Poulty, earlier
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  Speaker 1: this year called on the CEO, Richard du gastra design
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  Speaker 1: immediately and he in fact is going to step down
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  Speaker 1: next year. So Pulty getting a nice boost. Well, since
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  Speaker 1: you mentioned real estate Katholi, you might as well look
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  Speaker 1: at Zillo Group. This is the company that owns Zillo
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  Speaker 1: and other real estate websites. Uh. They reached a hundred
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  Speaker 1: and thirty million dollars settlement of a lawsuit brought by
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  Speaker 1: rival Move company owned by Rupert Murdock's News Corps. This
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  Speaker 1: is all has to do with the defection of a
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  Speaker 1: couple of Moves executives to Zello a while back. Uh.
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  Speaker 1: The salmon's definitely well received. Zello has two publicly traded
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  Speaker 1: classes of shares, and the more active one is non
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  Speaker 1: voting Class C stock, and that rose five point seven
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  Speaker 1: percent in today's trading, and the Class A, which does
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  Speaker 1: carry voting rights, those shares up five point three I'm
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  Speaker 1: gonna stay with biotechnology Alexeian Pharmaceuticals, following the most in
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  Speaker 1: six years. The companies drug for a rare neuromuscular disease
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  Speaker 1: failed to meet its primary goal. That's in a final
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  Speaker 1: stage trial, Alexeian Pharmaceuticals down more than ten and a
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  Speaker 1: half percent uh. The drug was designed to manage a
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  Speaker 1: form of muscle weakening illnesses. This has described as MIAs
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  Speaker 1: themia gravis, and the phase three clinical study it didn't
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  Speaker 1: report any statistical significant changes in the daily activities that
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  Speaker 1: the patients could perform. Once again, shares of Alexeian Pharmaceuticals
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  Speaker 1: down ten and a half percent. Let's take a look
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  Speaker 1: at Ralph Lauren closing down nearly two point four percent
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  Speaker 1: at ninety four dollars in change, although it was much
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  Speaker 1: worse today. Ralph la ran tumbling as much as ten
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  Speaker 1: percent after they addicted a plunge in sales this year.
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  Speaker 1: And of course, this just highlights the challenges that are
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  Speaker 1: facing CEO Stefan Larson as he tries to turn around
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  Speaker 1: this nearly fifty year old brand. He unveiled his vision
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  Speaker 1: for the company for the first time since taking the
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  Speaker 1: rains last year. He's going to eliminate three layers of management,
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  Speaker 1: Slash a thousand jobs, shutters stores as part of his
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  Speaker 1: Quote Way Forward plan. The restructuring costs him will amount
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  Speaker 1: to as much as four hundred million, the company said
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  Speaker 1: today we'll focus on refocus on his three core brands, Ralph, Lauren,
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  Speaker 1: Polo and Laura. All Right, it's time now for the
• 9:34
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  Speaker 1: VIX move higher today. It was up nearly two, up
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  Speaker 1: zero point to six, settling at thirteen point nine two
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  Speaker 1: And just an update, Volatility remains historic low, just as
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  Speaker 1: the SMP five hundred tries to hit eight new twenty
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  Speaker 1: sixteen high. And the bottom line maybe that any move
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  Speaker 1: to the upside will be difficult to justify absent the
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  Speaker 1: federal reserves rate hike plan. All right, Dave, you're uh hi,
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  Speaker 1: My name is Dave. Just what do you think you're doing? Things?
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  Speaker 1: We're going down? Wilson, Dave, Mr Wilson, Navistar International is
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  Speaker 1: your stock of the day. Absolutely. This is a company
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  Speaker 1: that's been around since nineteen o two was once in
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  Speaker 1: the Dow Jones Industrial Average. With a history like that,
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  Speaker 1: you might think the truck and engine makers shares would
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  Speaker 1: be relatively stable. Well, think again. In the last twenty years,
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  Speaker 1: Navastar's share price swung by an average of fifty two
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  Speaker 1: percent annually. The swings have been mostly lower in the
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  Speaker 1: past few years now. Navista are who stickers Navy has
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  Speaker 1: suffered from falling demand for its products, oh with environmental
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  Speaker 1: issues related to its diesel engines. In January, the stock
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  Speaker 1: fellow's lowest prices at least nineteen eighty that's as far
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  Speaker 1: back as Bloomberg's data goes. Since then, Navastar shares have
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  Speaker 1: been recovering the rebound game momentum. Today, after the release
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  Speaker 1: of fiscal second quarter results, Navastar had an unexpected profit
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  Speaker 1: of the mounting the ten cents to share in revenue
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  Speaker 1: beat anils Savage estmen to Bloomberg survey for the first
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  Speaker 1: time in two years. The results set Navastar's share surging
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  Speaker 1: as much as twenty nine percent today. They closed with
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  Speaker 1: a game of about nineteen and a half percent, and
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  Speaker 1: that was the biggest for Navastar International since March. Thank
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  Speaker 1: you very much. Dave Wilson, Bloomberg Stock's columnist. Coming up
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  Speaker 1: on taking Stock, will be speaking with Alan Burga is
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  Speaker 1: our agriculture reporter from Washington, d C. He's also the
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  Speaker 1: co host, along with Amy Marris, of Bloomberg Radio's Politics,
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  Speaker 1: Policy and Power, be heard every weekend on Bloomberg Night
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