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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: He's a Bloomberg Business block from Bloomberg World Headquarters. I'm
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  Speaker 1: Katherine mccotarian AzaC closing bell sounds of down. Industrial average
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  Speaker 1: up two hundred sixty eight points one point six percent
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  Speaker 1: at seventeen thousand, four hundred seven. SMP five foundered up
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  Speaker 1: thirty five points one point eight percent to two thousand
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  Speaker 1: thirty five. NASAC hired by ninety seven two point one percent,
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  Speaker 1: trading at forty six and ninety one, while stocks gained
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  Speaker 1: for the first time since Britain voted to leave the
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  Speaker 1: European Union. The SMP five fundred up the most since March.
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  Speaker 1: There's optimism that policymakers are committed to limit the fallout
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  Speaker 1: from the UK's exit. Hank Smith's chief investment officer at
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  Speaker 1: Haverford trusses stocks have come back for from bigger losses.
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  Speaker 1: The markets were off after the first five weeks about
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  Speaker 1: thirteen fourteen percent, and that was reversed in a mere
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  Speaker 1: two or three weeks. I'm not suggested seeing that it's
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  Speaker 1: going to happen exactly like this, but I am suggesting
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  Speaker 1: that these pullbacks are buying opportunities. Today's recovery is bolstered
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  Speaker 1: by equities that were among the biggest drags during the
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  Speaker 1: seal off. City Group in Bank of America up atly
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  Speaker 1: three point eight percent, with lenders recovering from the worst
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  Speaker 1: two days in almost five years. West Texas intermediate crude
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  Speaker 1: oil up a dollar fifty nine barrel three point four
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  Speaker 1: percent at forty seven ninety three spot gold down ten
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  Speaker 1: dollars an ounce at thirteen fourteen seventy and a ten
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  Speaker 1: year treasury down five thirty seconds yield one point four
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  Speaker 1: five percent. Among today's top business stories. The economy expanded
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  Speaker 1: more than previously estimated in the first quarter, as improved
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  Speaker 1: performance in trade and business investment more than made up
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  Speaker 1: for weaker consumer spending. The Commerce Department reported that gross
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  Speaker 1: domestic product rose at a one point one percent annual rate,
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  Speaker 1: and consumer confidence roses month of the highest levels in October.
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  Speaker 1: The Conference Ford reported its index increased to ninety eight
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  Speaker 1: in June from ninety two point four in May. The
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  Speaker 1: survey was conducted before the brexit. Volte Volkswagen has agreed
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  Speaker 1: to spend more than fifteen billion dollars to get hundreds
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  Speaker 1: of thousands of emissions cheating diesel vehicles off US roads
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  Speaker 1: and to play kate regulators. The settlements at an auto
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  Speaker 1: industry record in the US, and still the VW facing
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  Speaker 1: criminal and civil complaints on a free continents. And now
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  Speaker 1: an update on some of the other stories we're following today. Catherine,
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  Speaker 1: Thank you from the Bloomberg news Room by Mark Crumpton.
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  Speaker 1: The Associated Press cites a Turkish official who says two
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  Speaker 1: explosions have rocked Istanbul's editor airport, leaving multiple people injured.
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  Speaker 1: The official also telling the AP it's unclear whether the
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  Speaker 1: explosions were caused by bombs or suicide attack. The White
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  Speaker 1: House is dismissing today's report from the House Select Committee
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  Speaker 1: on Benghazi, calling the investigation of partisan maneuver aimed at
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  Speaker 1: taking down former Secretary of State Hillary Clinton, now the
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  Speaker 1: likely Democratic presidential nominee. White House French Secretary johsn earnist
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  Speaker 1: it is a seven million dollar effort funded by taxpayers
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  Speaker 1: to do what they would be speak of. Their House
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  Speaker 1: says was their goal, which is to tear down sectory
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  Speaker 1: Clinton's poll numbers. Mrs Clinton campaigning in Denver Colorado Today
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  Speaker 1: said it's clear that it's time to move on. In
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  Speaker 1: an interview with National Public Radio, President Obama said he
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  Speaker 1: doesn't think the UK's decision to leave the European Union
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  Speaker 1: will cause quote cataclysmic changes. That's the way to think
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  Speaker 1: about this is a pause button has been pressed on
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  Speaker 1: the project of full European integration. I would not overstate it. Um,
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  Speaker 1: there's been a little bit of hysteria post Brexit vote,
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  Speaker 1: as if somehow NATO's gone at the Transatlantic Alliance is dissolving,
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  Speaker 1: and uh, every country is rushing off to its own quarter,
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  Speaker 1: and that's not what's happening. The President had opposed the
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  Speaker 1: Brexit vote. Global News twenty four hours a day, powered
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  Speaker 1: by more than journalists and analysts in more than one countries.
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  Speaker 1: I'm Mark Crumpton, this is Bloomberg. Catherine, thank you. When
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  Speaker 1: we have an update on that story. Out of Turkey,
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  Speaker 1: a Turkish official says two attackers have blown themselves up
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  Speaker 1: at Istanbul's at a Turkey airport after police fired at them,
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  Speaker 1: and Turkish media are quoting a justice minister as saying
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  Speaker 1: that ten people were killed in that attack today and
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  Speaker 1: as those benchmark settle, let's get an update. Dow Industrial
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  Speaker 1: leverage up two hundred sixty nine points to seventeen thousand,
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  Speaker 1: four hundred nine, smp F I funded up thirty five
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  Speaker 1: points to two thousand, thirty six. Nasdack hire by ninety
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  Speaker 1: seven at forty six and ninety one. And that's a
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  Speaker 1: Bloomberg Business flash move most grade promotion. I feel Earth
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  Speaker 1: moved on. You moved like they do. I've never seen
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  Speaker 1: anyone move that fast. Tired people have moved like You've
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  Speaker 1: got a purpose. That was called movements in shape because
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  Speaker 1: it costs a little more. 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: Kathleen As on Bloomberg Radio. Interesting, when you look at
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  Speaker 1: the SMP five hundred, how many shares closed up, down,
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  Speaker 1: or unchanged. It's just about flipped exactly from yesterday. Uh
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  Speaker 1: today we have for a seventy two share prices closing higher,
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  Speaker 1: thirty one closing lower, two closing unchanged. And of course
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  Speaker 1: all those stocks closing higher were behind the SMP five
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  Speaker 1: hundred closing. If you run it off nearly two today,
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  Speaker 1: Da Wilson's back our stocks editor. He's kicking off movers
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  Speaker 1: and shakers. What's catching your eye, Mr Wilson, Well, I
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  Speaker 1: want to talk about Gilead Science. Is this is a
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  Speaker 1: company that's really made its name by developing treatments for
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  Speaker 1: hepatitis see their savalvy and harbony. And now there's another
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  Speaker 1: one called at Clusa, just received US approval and it's
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  Speaker 1: the first drug that can be used to fight all
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  Speaker 1: forms of the viral disease. Now, at Clusa is going
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  Speaker 1: to have a lower list price than Sabaldi and harvony.
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  Speaker 1: And that's a big deal because Gillyad came under pressure
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  Speaker 1: from Congress and others uh in the last year or
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  Speaker 1: two because of the relatively high prices for their Hepatitis
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  Speaker 1: C treatments. Will you put that all together? Gillyad Sciences
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  Speaker 1: with a gain of five point two percent, biggest advance
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  Speaker 1: in the stocks in October. Well, Dave, I want to
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  Speaker 1: take a look at Dow Chemical. Interesting that it is
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  Speaker 1: down some two point nine percent today, planning to eliminate jobs,
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  Speaker 1: shut plans in North Carolina and Japan. As it continues
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  Speaker 1: to slim down after taking full control of its Dow
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  Speaker 1: Corning Corporation silicon venture. It's going to take a charge
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  Speaker 1: of about four or ten million to four and sixty
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  Speaker 1: million in the second quarter of her asset impairments, employees,
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  Speaker 1: severance and more. Um. It's interesting that this is happening
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  Speaker 1: at a time when it was not certainly unexpected, Dave.
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  Speaker 1: There's a terriffic piece, a Bloomberg gadfly piece that you
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  Speaker 1: can find on your Bloomberg or even on our Bloomberg website,
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  Speaker 1: written by Brooke Sutherland, and UH, I like what I
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  Speaker 1: like what she says here. This isn't a story about
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  Speaker 1: how corporations like UH, Dow and even DuPont are evil
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  Speaker 1: for putting profits above the welfare of employees. Although let's
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  Speaker 1: face it, there's a human cost of these mega mersureds
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  Speaker 1: that clinical clinical world like word like synergy canna RaSE.
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  Speaker 1: But she points out, Dave, the job cuts aren't happening
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  Speaker 1: in a vacuum. Times are tough for chemical corporations right now,
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  Speaker 1: as global growth plods along and commodity prices flounder. And
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  Speaker 1: certainly JP Morgan noted that when they cut their ratings
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  Speaker 1: on Dow Chemical and DuPont today we should point out
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  Speaker 1: DuPont shares fell as well. UH. In today's trading, Let's
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  Speaker 1: take a look at Endo Pharmaceuticals, or in the international
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  Speaker 1: to be more precise. This is a company that has
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  Speaker 1: grown through takeovers over the last few years. Uh. They've
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  Speaker 1: piled up more than eight billion dollars of debt in
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  Speaker 1: the process. And there was a report out of Routers
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  Speaker 1: UH citing people familiar with the matter saying that Endo
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  Speaker 1: was looking at assets sales to reduce its debt burden
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  Speaker 1: and had actually spoken to private equity firms about possible deals. Well,
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  Speaker 1: that prospect went over well with investors, because Endo shares
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  Speaker 1: jumped more than eighteen percent in today's trading biggest advances November. Well,
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  Speaker 1: let's take a look at Marathon. I like stories that
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  Speaker 1: are really simple to understand. Dave Wilson, UH, with my
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  Speaker 1: next crewed up about three point six percent today at
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  Speaker 1: forty seven dollars and nine cents of barrel. Marathon stock
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  Speaker 1: up sharply. In fact, that the close up eight point
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  Speaker 1: two per cent not just the oil price rebound, but
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  Speaker 1: also potential worker uh strike in parts of Norway, and
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  Speaker 1: of course of strike maybe less output. So UH the
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  Speaker 1: quote in this story, oil is recovering on some bargain
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  Speaker 1: hunting after the drop below forty seven dollars a barrel
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  Speaker 1: proved unsustainable and on news of this possible strike in
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  Speaker 1: the Norwegian oil and gas industry. Yeah, I'd also like
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  Speaker 1: to point out what end though, there's more to the story. Uh,
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  Speaker 1: their partformed sceutical unit got a new patent on a
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  Speaker 1: treatment called vaso strict and it's it's been someone has
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  Speaker 1: been sold for a while but hasn't had patent protection.
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  Speaker 1: Interestingly enough, it's all about uh, increasing blood pet pressure
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  Speaker 1: in patients with sepsis other diseases. So you know, definitely
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  Speaker 1: more to the end of story than just the possibility
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  Speaker 1: of asset sales. What I gotta tell you, the VIX
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  Speaker 1: is a more interesting story than every these days, isn't
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  Speaker 1: With all the volatility of the stock market. The Volatility
• 9:53
  Speaker 1: Index Report brought to you by CBOE VIX Options and
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  Speaker 1: So the disclosures and learn more at cbo E dot
• 10:02
  Speaker 1: com Slash Powerful Outcomes VIX. Look at that the VIX
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  Speaker 1: down five points to eighteen point eight today, second day
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  Speaker 1: of a slide. Uh. In fact, it's it's on its
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  Speaker 1: it's on track for its biggest slide since September, although
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  Speaker 1: depending on how this goes, it could reverse that and
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  Speaker 1: end up with a monthly climb. But Dave a lot
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  Speaker 1: of volatility in the VIX. All right, Dave, you're up.
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  Speaker 1: H Hi, my name is Dave. Just what do you
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  Speaker 1: think you're doing today? We're going for a price found
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  Speaker 1: will Dave. Hey, Mr Wilson, let's take a look at
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  Speaker 1: BABCX Babcock and Wilcox Enterprises. Absolutely, I should point out
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  Speaker 1: that you were just mentioning the VIX. That was my
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  Speaker 1: chart of the day, and if you haven't seen that, folks,
• 10:54
  Speaker 1: send me an email, get it to you with the
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  Speaker 1: explanation that goes with it everything I do going forward.
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  Speaker 1: The email addresses d Wilson at Bloomberg dot net. That's
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  Speaker 1: d Wilson at Bloomberg dot net. Now. As for Babcock
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  Speaker 1: and will Cox Enterprises is a company that was separated
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  Speaker 1: out of Babcock and Wilcox last year to spinoff. Shares
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  Speaker 1: have been in high in April. They fell Friday and
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  Speaker 1: Monday as a results of all the market turmoil from
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  Speaker 1: the UK's decision to leave the European Union. But while
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  Speaker 1: stocks rebanded today Babcock and Wilcox's loss is worse than
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  Speaker 1: The company lowered his twenty sixteen earnings forecast by about
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  Speaker 1: forty six percent because of a business overhaul and costs
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  Speaker 1: associated with that, along with lower coal related revenue. This
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  Speaker 1: company is a power equipment makers, so that's why they
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  Speaker 1: get affected. Babcock and Wilcox had its UH biggest one
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  Speaker 1: day loss since the spin off. The stock tumbled twenty
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  Speaker 1: one percent and traded at a new low during the day.
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  Speaker 1: David Wilson getting it done as always our stock sedator.
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  Speaker 1: This is taking stock on Bloomberg Radio. The bond market
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  Speaker 1: rally will continue. While he had a great call on
• 12:09
  Speaker 1: the bondmarket in March, we're gonna be speaking to Matt
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  Speaker 1: hornback from work and Stanley about why he's still bullish
• 12:15
  Speaker 1: on bonds. This is Bloomberg Radio.