abercrombie and fitch announced it's not selling the company, that sent the retailer's stock plungingit was down 21 percent. decreased store traffic and mall foot traffic have slowed sales. there was a time when they were everywhere. >> i used to love abercrombie and fitch. >>> still to come on "action news" a-former first lady is planning a visit to philadelphia. when she'll be here and why coming up. >> ♪ ♪ if you want a taste of freedom, keep going. we hold these truths to be self-evident: that all men and women are created equal. we must want our fellow human beings to have rights. stonewall means fight back. stonewall means fight back. discover new york state's rich legacy of equality. plan your trip to our equal rights destinations at iloveny.com >> former first lady michelle obama will be in philadelphia this fall to to take part in the pennsylvania conference for women. the appearance is being described as a conversation with the first lady. she'll be at the pennsylvania constitution center on tuesday october 3rd. now, tickets are expected to go fast. for more information on h

. > abercrombie & fitch, dashing >> abercrombie & fitch, dashing -- terp naturing talks with potential acquirers, dashing hopes of potential investors. it doesn't have many stores left. what does it have? >> it is a brand that is tarnished at this point. part of the reason, if you take a look at the revenue and the net income of this company, it is a pretty stark downturn. estimates are even worse on both ends. you come into this and you say all right, abercrombie need new strategy. that was part of the idea. let's try to talk to american eagle. and maybe take this company private. abercrombie went through the process and found from the buyer perspective there wasn't anyone there. it was a public company, so they need to offer a certain price. >> chies authorities betances to stop the use of vpns. that is a plan to get through the loopholes. in is the so-called freight fire wall hole of china. war they trying to do? >> they are a form of private technology people, businesses, use to tunnel through the great fire wall and access sites that o.t.a.'s china. on the new york times, to googl

even as a flagship, abercrombie and fitch has suffered. but they have a kid line.ot like they have no assets. they have suffered a little bit of a lot of companies do, when my jeffries stepped -- mike jeffries stepped down and when you lose a leader you lose vision. vonnie: this is more a secular story of the changing winds in retail. alex: it is all over the place, where struggling brands need to figure out, how do i become something different when all the attention is going online and as you said, the idea of brick and mortar has gone out the window. can you successfully change? vonnie: we shall see. alex, thank you. mn&a reporter. apollo global management betting on the golf industry. we will discuss the billion-dollar purchase of club core -- corps, next. this is bloomberg. ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn. "bloomberg markets." -- this is "bloomberg markets." let's get a check of u.s. stocks now roughly through the session. the s&p just outside of that range that we have been seeing in of 2429 and the nasdaq is the

. >> first, shares of abercrombie & fitch plunging after ending talks to maybe sell the company. we'll look at future for that struggling retailer when kelly and i come back. approaching medicare eligibility? don't put off checking out your medicare options until 65. now is a good time to get the ball rolling. medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help save you in out-of-pocket medical costs. taking informed steps really makes a difference later. that's what it means to go long™. call now and request this free decision guide and explore the range of aarp medicare supplement plans. all plans like these let you choose any doctor or hospital that accepts medicare patients. these are the only medicare supplement insurance plans endorsed by aarp. call now and request your free decision guide... and start gathering the information you need to help you go long

let's look at the big movers in retail, abercrombie & fitch.ut some investors are probably pleased. best buy is down about 4%. it was reported that amazon is developing something similar to the geek squad. some companies reporting earnings this week, pepsi trading higher, they report tomorrow, delta airlines reporting on thursday and the big banks. jpmorgan and wells fargo are trading lower this morning. theill be watching companies cut their fixed income trading revenue outlook. we will know what that looks like on friday. these bars represent the amount of growth in a given earnings season. last quarter, we saw a tremendous growth. growth is expected to be less than 10%. for the s&p 500 is rising. we will see whether it is the earnings or the price. alix: good point, watching the expectation. joining us now is jill cary hall. what do you make of the fact that we have not seen the downward residuum -- revisions much? >> one of the key things we have noticed about earnings this quarters that analysts have not been taking the estimates they usua

the wall street journal reports abercrombie and fitch have been unable to find a buyer.o begin negotiations in may. several different interested suitors. among those were rival retailers like express and american eagle outfitters but unfortunately, for abercrombie, they were unable to find the workforce. they have increased four straight years during which time it has closed stores, cut prices and changed up its marketing direction. the direction for sears has also been driven. the 124-year-old retailer now closing another 43 stores. 45 kmart's, eight years and that brings the total list for 2017 to about 300 leaving 1100 locations in the united states. >>> the stock market rebounded on friday. which has really been beaten up over the past days. dropping just over 20 points. the nasdaq is up and the s&p is flat. michelle and kenny, back to you. >>> a former landfill may not seem like the typical location for a housing development except for here in the bay area where the demand for housing is at an all-time high. $6.7 billion. built across levi stadium. they used complex

. >> abercrombie & fitch terminating talks with potential acquirers, dashing hopes.rs saw a take over as the best way to rescue this retailer . it doesn't have many stores left. what does it have? >> it is a brand that is tarnished at this point. part of the reason, if you take a look at the revenue and the net income of this company, it is a pretty stark downturn. estimates are even worse on both ends. you come into this and say all right, abercrombie needs a new strategy. that was part of the idea. let's try to talk to american eagle. we will try to talk to cerberus potentially and take this company private. abercrombie probably went through the process and found from the buyer perspective there wasn't anyone there. they need to offer a certain price. >> chinese authorities want to stop the use of vpns. that is a plan to get through the loopholes in the so-called great firewall of china. what does this all mean? what are they trying to do? >> virtual private networks are a form of technology that people, private technology people, businesses, they tunnel through th

abercrombie says that sales remain strong at the hollister bran but sales slummed at abercrombie and fitch. >>> and chick-fil-a is celebrating cow appreciation day and giving away free food with people in a cow costume. kids receive a free kids meal if they dress up. >>> 7-eleven is giving away free slurpee drinks today to celebrate the chain's 90th birthday. the 16th straight year that the company did this on july 11th, they expect to hand out 9 million free small slurpees. >> i love a slurpee. >> i have never had one. >> we'll change that tonight. >> remember slush puppies. >> it could give me brain freeze in four seconds. >> it's a perfect night for a slush out there. to cool you off. looking at stormtracker 6 live double scan as you see from the ohio valley and pittsburgh, scattered storms passing through the philadelphia area and most of these moving towards pittsburgh as they work to the east and for us we are dealing locally with a couple of pop-ups as we push these up here. a closer view, storms near trenton, and lawrence. out of mercer county, monmouth county and long beach

. >> abercrombie and fitch >> why do you want to talk about abercrombie a abercrombie and fitch?> people were speculating there was going to be a deal, now it's off. perhaps because they are supposed to lose a lot of money. thermal based. >> they say, jim, they are generating solid comp store sales momentum at hollister, solid momentum >> happy hollister >> solid momentum. those are the kinds of things that sears says. >> sears saw more k-marts. >> announced more closings on friday, it was straight forward about their suppliers and trying to get everybody and their financiers to have more confidence. >> well, more credit lines, seem to get a credit line every couple of days >> that's the key question >> if they close all the k-marts, would the stock go higher >> much, much higher >> you know what stock is in good shape mcdonald's mcdonald's is a key to this market >> really? why? >> why because if you have a good growth story of which mcdonald's has the best, you can continue to have your stock rewarded, even if it's not a semiconductor company or a fang member mcdonald's is the

abercrombie & fitch arla -- is lower today.he retailer had begun preliminary discussions with several parties regarding a transaction. in a statement, chief executive arthur martinez said the company is pursuing a rigorous execution of the business plan. an experiment the drug has strong test results but is being challenged. rocherug could help grabbed the hemophilia market. larry -- a promoter there was april amerian junction on the drug. companies in the u.k. overwhelmingly opposed to britain walking away from talks with the eu without a deal. a survey.ording to a poll by the british chambers of commerce show that more the1/3 of businesses want country to stay in a single market after brexit. that's the latest bloomberg business flash. still ahead, prime time, amazon cargo planes are getting ready on the annual day of deals. this is bloomberg. ♪ mark: this is bloomberg markets. amazon is gearing up for its third installment of its so-called prime day. -- event last year were at was the biggest sales day in the annual event sh

. >> abercrombie & fitch, dashing hopes.sn't have many stores left. >> it is a brand that is tarnished at this point. part of the reason, if you take a look at the revenue and the company, itf this is a pretty stark downturn. estimates are even worse on both ends. abercrombieright, need new strategy. that was part of the idea. let's try to talk to american eagle. abercrombie went through the process and found from the buyer perspective there wasn't anyone there. they need to offer a certain price. want tonese authorities stop the use of vpns. plan to get through the loopholes. >> they are a form of private technology people, businesses, they tunnel through the great firewall and access sites blocked outside of china. on the new york times, to google, facebook, instagram. in wide range of sites unblocked. the government has taken an ad hoc approach to targeting individual vpns for set down -- for shutdown. the new move would take a more comprehensive and aggressive approach by asking china's major state owned telecoms to bloc

it's not just abercrombie. they took itself off the table as a potential sale. they said they are terminating talks with potential acquires. shares are down 20%. we see a downdraft throughout retail. gap, kohl's, macy's, they are some of the worst performers. take a look at the bloomberg. we've got a look at some of these groups. the s&p here is in yellow. anything about this red line is a positive return. we have department spores -- stores and manufacturers, they have been sliding. abercrombie could not find a buyer and that is creating more selling within the industry. oil, oil is on spiking higher. it is up 1%. we had investors weighing the possibility that libya and nigeria might consider production caps that the rest of opec has agreed to. the russian oil ministry was talking about raising the price forecast. maybe that was a catalyst as we see oil shooting up a bit worried -- that. by benjamine joined segal. they are up nearly 21% in the last 12 months. obviously, what have you been waiting on? benjamin: m&a as for an companies look to europe for interest

♪ ♪ fitch: abercrombie & plunged after talks with potential buyers.peculation that abercrombie must be acquired by express or american eagle. it was the mainstay of college fashion and the 1990's and early 2000, but has lost it's a lower. it has been -- it's the lower -- allure. one former audi manager was arrested in munich last week. best buy saw the most in more than a year after amazon introduced a business that threatens its geek squad. it is designed to help customers install and configure interconnected products. services account for about 5% of revenue at best buy, which acquired the squad more than a decade ago. the growth of new mobile platforms globally has fueled the matt forte logitech -- fueled demand for logitech's expertise. it is not surprising that analysts have become increasingly bullish on the company, whose stock is up more than 40% this year. the ceo is the keynote speaker is a conference in hong kong. he joins us in the studio. thanks so much for coming in. i have to talk to you. i booked an interview with you because i thought

you come into this and say, all right, well, abercrombie needs a new strategy.at part of the idea was here, let's try to talk to american eagle or kick does company private. throughabercrombie went the process of this and probably found from the buyer perspective that there just wasn't anyone there is a public company. ♪ have told authorities telcos to stop the use of vpns. that is an attempt to plug loopholes in the several great firewall of china -- the so-called great firewall of china. what are they trying to do? >> virtual private networks are a form of technology that peoples, businesses, universities used to tunnel through the great firewall and access sites that are blocked outside china, from "the new york times," google, facebook, instagram. in the past government has taken a rather ad hoc approach to targeting individual vpns for shutdown. the new move which is supposed next into effect by february with a much more copperheads of an aggressive approach by asking china's major stated -- major state-owned next telecoms to block traffic that appears to b

abercrombie, sears, best buy, other retailers sharply lower. retail ice age. because ivanka sat in for her father with a meeting with world leaders at g20 summit. that is what happened. the media critized her and the president for that. here is what the president tweeted today. if chelsea clinton was asked to hold her seat for her mother as her mother gave our country away the fake news would say, chelsea for press. angela merkel defended trump being there at the meeting. she was with the american delegation and carries the white house with person responsibilities. angela merkel okay with ivanka at the meeting. you howard kurtz, host of "mediabuzz." how can you explain the media reaction to events in europe, proposed snub of poland's first lady and handshake didn't exist, ivanka sitting at meeting instead of her father. this big fuss about non-entity stories, what is going on? >> the polish first lady's handshake was nonstory. this story involving ivanka trump is of utter insignificance i can't believe it is story at all. president had to step out of the meeti

abercrombie & fitch. this is another retailer under pressure today, down 21%. moves to a 17-year low. down $2.50. abercrombie comes under pressure. since may they have been looking for a buyer. there was talk it would be express, american eagle or sycamore partners, went on to make a deal with staples. no buyers. down 4%. sears, another store about retail, down over 3% today. this as they are closing more stores. closed 4% to the downside, closing another 43 stores for sears. back to you guys. ashley: nicole, you made it very interesting, thank you. melissa: oil inching higher up 17 cents, 44.40 a barrel. gold climbing up settling up $3.50 and ounce, to close in the green three out of the past four sessions. ashley: back in session, there is only 15 working days for the senate to fix the health care bill before they're off again for the august recess. commander-in-chief has high expectations. president trump tweeting quote, i can not imagine the congress would dare leave washington without a beautiful new health care bill fully approved, ready to go. melissa: b

. >> abercrombie and fit terminating its buy-out talks.ock plunging this morning. abercrombie's ceo determined the best path for value is the company's business plan. stock dropped by as much as 16% in premarket trading. we'll give you a live look right now, 16.28%. >> well, i don't have good news for you. i know i sound like a broken record this morning with this issue in tracy. westbound 205 before holly drive is where we have that double trailer semi. one of the trailers flipped just after 4:00 this morning. we're hearic from chp that we have the far right lane blocked once again. it was all off on the shoulder a few moments ago, but they're still working to upright the trailer. we're jammed once again to about the i-5 merge there, and back to lathrop and manteca, we're backing up once again. not a great morning out of the central valley. southbound 880 before decotto road, a new crash. and a quick check of drive times here as well. starting to fill in. westbound 80, highway 4 to the maze, 27 minutes. 14 across the bay bridge, and nine

. >> it was abercrombie, yes, down 20% on that deal falling apart, but was that a prime reaction?n, this is something that investors should be able to anticipate at this point, no >> yeah, exactly i'm not sure it was entirely a prime reaction you bring up a good point about the abercrombie potential deal fae falling apart. sears, also announcements of more store closures trickling out. so, there are a number of factors at play. and what's interesting is in years past on prime day, amazon shares are actually lower on the day. that happens on cyber monday, too, with amazon shares. it's a kind of a strange phenomenon, because they're getting so many headlines and we know the sales just keep beating records. shares don't react in kind, though. >> i wonder when we'll see peak prime, when the saturation point -- where that point is -- >> when the sales frost up >> that's the tipping point. everyone else, watch out. >> it might happen today i'll tweet if it does. >> i just can't believe you're -- like, i don't know how you get your toilet paper. >> well, as i said yesterday, bed bath & b

abercrombie & fitch is looking to china's alibaba to help make a comeback.t will sell a kid line on the website starting july 26. earlier this month, abercrombie abandoned acquisition talks in favor of focusing on its own turnaround plan. that's your business flash. just finishedryan speaking in massachusetts avenue balance factory. he talked about tax reform and said the republican party is onh more uniform -- unified tax reform than health care and he is much more confident on tax reform. not the highest bar. nonetheless, expressing confidence that the members know they need to get it done. he also said a 20% corporate tax rate is "very realistic," and there are many ways to achieve it. one thing they talked about was the border adjustment tax, which was not looking good. he is expressing confidence, but then when they get into the details of where the money will be offset, assuming they do that kind of reform, it could be tough. scarlet: we shall see. coming up next, is volatility dead in the markets? not if you know where to look. from new york, this is

. ♪ >> a lot of talk about retail today shares abercrombie & fitch a dive in premarket nicole petallidesgood morning. >> good morning sandra we are seeing abercrombie & fitch under pressure this morning, in fact, it is accelerated last hour or so, you at this point premarket abercrombie & fitch down nearly 11%, there has been talk since may about potential partners or some buyout of some sort, interested parties such as express american eagle sycamore partners made a deal with staples at this point after final bids have been accepted by abercrombie & fitch it looks like they have not come to any terms with any of these parties unlikely to find a buyer at this time. so premarket down 11%, and over the last 52 weeks down 36%, watching tesla closely with higher this morning, elon musk certainly front and center, this new model three going to be rolling off production line 30 of them by the end of the month, out to the folks, and elon musk even tweeting production unit one model 3 built through final check everybody gets to see what model three looks like now for the first time it go he is f

. >>> abercrombie & fitch is no longer for sale, that's where we begin tonight's "market focus." after announcing in may it was in talks with several suitors regarding a potential buyout, the apparel chain said today it has ended all discussions, instead the company says it's going to take sound, aggressive action to deliver improved results and long-term shareholder value. wall street wasn't buying it. sending shares down 21% to $9.59. >>> the golf and country club operator, clubcorp, will be bought by a private equity firm, apollo global management, for more than a billion. apollo which is gaining a membership base now of more than 400,000 people said it will use its resources to continue growing the business. investors celebrated like they hit a hole in one sending shares up 30% to 1705. >>> cincinnati bell will buy hawaiian telecom for $650 million. as the company looks to expand its fiber network in preparation for a 5g network. under the deal, cincinnati bell said it will get access to the hawaiian market with opportunities to expand beyond that. cincinnati bell shares fell

shares an abercrombie and fitch plummeted twenty percent after the struggling american retailers said it was no longer up for sale. had been fielding takeover offers but said on monday it would try to improve its business model alone. grant has lost its popularity among teenage shoppers. sales plunging ten percent in the second quarter this year. threats of retaliatory tariffs were in the air over the weekend is g. twenty leaders sought to prevent the united states from imposing protectionist taxes on steel imports to the united states. plan to address the problem of cheap steel flooding the market was eventually reached. language of the final declaration lease options open to washington as rebecca rosman explains. seemed an agreement on steel concessions or else. mounting pressure from us president donald trump. production. what does stunned? by november a substantial report will be presented which makes concrete political solutions for steel over capacities in style i'm beat that's. low cost imports from countries like china have severely weakened the us steel market. and industry t

abercrombie & fitch is looking to alibaba to help make a comeback.he retailer will sell its kids line on alibaba starting july 26th. earlier this month abercrombie abandoned acquisition talks in favor of executing its own turnaround plan. that is your business flash update. still ahead, the finish line in the race to acquire scripps could be close. discovery and viacom are vying to buy the media company. we will be discussing next from new york. this is bloomberg. ♪ julia: from bloomberg world headquarters in midtown manhattan, this is bloomberg markets. i am julia chatterley. commodity markets are closing in new york. let's get you a look at the day's movers. gold is moving higher today. ing losses after bloomberg reported special counsel robert mueller is expanding his investigation into president trump's business activities. that news also put pressure on the u.s. dollar in the session today. now to the agricultural futures. , corn, soybeans, rice, rising today. scorching heat and drought conditions in the great plains are adding to supply uncerta

abercrombie also says it does not intend to comment any further on those now ended talks but says itough review it's concluding the best path to increase shareholder value is a progressive pursuit of its current strategy stock's down 16% as a result >>> and more crude is coming online and president trump isn't backing down on making the u.s. a global competitor. jackie deangelis joins us now with more. good morning >> good morning to you, joe. and that's exactly right look, late last week, and somewhat quietly, the u.s. interior secretary signed an order to hold more lease sales and to speed up permitting to oil and gas exploration on federal lands. now, unsurprising, but it's believed that roughly 2,000 plus permit applications under president obama have created a backlog and the trump administration wants to clear the way. and the critics are saying that trump's spelling out the nation's public land to benefit the oil and gas industry the administration would argue it's streamlining an antiquated process in the interest of making america great again, and the trump first energy plan

i day in july, 22.9 billion shires, retailer are still struggling, shares of abercrombie, ended at.p next, some senate republicans are sounding like they have given up. given up on health care. . he is trying to rework to get something that will pass, but the original version, 10 folks opposing is not going to pass. >> yeah,. seen at leadership ina bill to seen at leadership ina bill to to man: i am a veteran; my victory was finding the strength to be a champion. man: my victory is having a job i can be proud of. narrator: at dav we help veterans get the benefits they've earned. woman: my victory was finishing my education. man: my victory was getting help to put our lives back together. narrator: dav provides veterans with a lifetime of support. man: my victory is being there for my family. narrator: help us support more victories for veterans. go to dav.org. ♪music ♪you fill up my senses ♪like a sleepy blue ocean ♪you fill up my senses ♪come fill me again lou: a few thoughts on the sorry state of congressional leadership in the swamp of washington, d.c. the gop can't manage to rev

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i day in july, 22.9 billion shires, retailer are still struggling, shares of abercrombie, ended at.ate republicans are sounding like they have given up. given up on health care. . he is trying to rework to get something that will pass, but the original version, 10 folks opposing is not going to pass. >> yeah,. seen at leadership ina bill to to dis today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event .. and trouble breathing. stop taking jardiance and call your doctor right away if y

abercrombie & fitch plunging after terminating talks with potential buyers following months of speculationexpress or american eagle. it was a mainstay of college fashion in the 1990's, but it has been hurt by the broader slowdown in mall traffic and the shift to shopping online. rishaad: german prosecutors escalating an investigation into porsche over possible he saw emissions cheating, the role of a named employees in germany and in the united states. the stuttgart-based inquiry adding investigations into ofmer german states, one out the was arrested in munich last week. haidi: best buy fell after amazon introduced a service that eek squadd its g business. it is designed to help customers install and configure internet connected products. it accounts for 5% of revenue at best buy. shares have been up 36% before monday's tumble. now amazon has its own air force to help with what is expected to be the biggest sales they ever, boeing 767's through partnerships with atlas air and atsg. >> you probably know the boxes. there's probably a pile weeding for you when you get home, but amazon prime

michelle: abercrombie & fitch is not for sale after all. nancy: the announcement spent the stock to a spiral. more people look for lower cost. the company says the brands are strong. we have an update on the maryland zoo infant julius underwent a blood transfusion yesterday after doctors found issues in the blood work. this started last month. he is not receiving the necessary antibodies to protect him from disease or infection because he wasn't nursing. we start off monday nice. steve: a lot of folks here like the warm temperatures. some like winter and some like summer heat. i like september. when it's like in between everything. >> yeah. there is nothing to be said about the hot days and walking in to the cold air conditioning. >> it feels nice. nice in here. crisp. all right. head to the ocean city maryland. looking live at the beach. a nice afternoon and early evening out there. if you have plans to escape the city from the heat and the humidity, and you are going out tomorrow or wednesday or thursday. temperatures now. reagan is 95. t

abercrombie & fitch ends talks to sell itself. it's back up 14 cents today.teve, what do you think about abercrombie & fitch, one of the great names from way back when. can they turn it around? >> i don't think so. in terms of market cap once you go under a billion dollars, i think a lot of institutional investors are no longer interested in your company. there are still hopes that it could take over target although some of those hopes were dashed. i don't wish ill on a company, this went out of its way to engage in culture wars, silly, not part of the core business, if it had to happen to somebody, so be it, am abercrombie and fitch. stuart: whoa, and one is having a fund to bet against retailers. it's an etf, you buy into it if you think that bricks and mortar stores are going down. would you buy into it? >> i wouldn't. i would like to advise anybody out there to buy a leveraged etf. using the money and borrowing against it, using margin efrj willing, up that investment, is extremely dangerous, when it works in your favor, it's great, but when it works agai

look at abercrombie & fitch stock price. on wall street. it is down 20%. 21.3%. you might have seen a story in the "wall street journal" hey, it is up for sale and that process is not going well. you will see a stock go up on speculation of takeovers. when that speculation goes away, boy, it can go down. best buy off significantly, not as much by 6%. a report that amazon is working on essentially its own geek squad, support service similar to the geek squad. amazon up again close to $1000. which brings us to prime day, amazon with its annual day of deals, kicks off tonight officially, 9:00 p.m. eastern time. hillary vaughn with exclusive look at epicenter in the seattle area for the big day at amazon. reporter: hey, connell, that is right. amazon hq directly behind us. we got a first-hand look at their cargo planes. amazon is ramping up for prime day in a big way. first time ever they will deploy their own fleet of cargo planes to deliver deals on prime day for the first time. this sales event generated more sales for amazon

tracks the retail business down about 2% abercrombie the worst of the bunch on pace for its worst day in almost a year town almost 20% after the retailer said efforts to sell itself have stalled. dick sporting goods, amazon bucking the trend up 1% ahead of its annual prime day now back downtown for the start of "squawk alley." guys, back over to you >> all right thank you, dom good morning it is 8:00 a.m. at amazon headquarters in seattle, 11:00 on wall street "squawk alley" is live ♪ ♪ ♪ typical drive today time to emancipate ♪ ♪ i guess it was ♪ >>> good morning welcome to "squawk alley." with me here at post nine sara eisen, mike santelli, carl quintanilla has the day off. >>> we start with amazon prime day. the annual holiday made by amazon set to kick off tonight at 9:00 p.m. eastern with deals aimed at rewarding prime members and, of course, recruiting new members to the premium option. just how important is prime to amazon always tricky to get the numbers. deadria is at amazon hq with some details good morning, deadria. >> good morning. that's right we're in the heart of amazon

abercrombie & fitch take -- trading down 20%.r to people with the matter, the retailer had begun preliminary discussions regarding a transaction. the company has opted instead to rigorous execution of the company's business plan. these outlets one congressional approval to negotiate with facebook which they blame for dominating on blaine -- online advertising. that is according to research firm he marketer. they want a bigger share of advertising. money for a new growth fund backed by votto. -- bono. the rise fund seeks to spend $2 million on ventures offering environmental and social benefits as well as financial returns. the swiss bank pledging to raise $5 million over five years. and that is your business flash update. that adds to elevation partners which is another financial venture. more on investing ahead, further signs that active managers are falling behind their passive counterparts. we will dig into the numbers next. this is bloomberg. ♪ julia: this is bloomberg markets, i'm julia chatterley. julie: i'm julie hyman. al

also watching abercrombie, best buy. prime day, of course, for amazon.,rcrombie & actually, the biggest mover, as you can see, in the session today. down some -- what was that? 21% in the session. is off.hat the deal the takeover negotiations have failed. it's terminating talks with any potential inquirers, dashing ofes for the investors something to rescue the retailer and rekindling its appeal with shoppers. happening. >> and let's take a look at the government bond market. in aer day than we've seen while. yields a little bit lower. ten-year yield, which really had been moving solidly high, modestly lower. downerman 10-year yields, to.54%. >> quick look at currency markets here. move in the bond markets. little story to tell in the dollar index. obviously making -- what does anything elseay about evaluations as well? quick check on what's going on dollar and dollar yen. deutsche bank doing and about their forecast. 117. 2018.he level by just to give you some sense of how they've changed, that was in euro dollar and 95 for 2018.ck end of oh, boy, how t

the news follows months of speculation that abercrombie might be acquired by express or american eel.rand with the main a of aollege fashion -- mainstay of college fashion. it has been hurt by the slowdown in mall traffic and a shift to shopping online. betty: sources say emirates is cutting dozens of jobs at the dubai-based carrier moved to streamline after years of rapid growth. we are told the world biggest long-haul airline is scaling back senior cabin crew as well as administration and i.t. staff. the cuts began in the last few weeks and affect middle and upper level managers. emirates froze hiring last month and has taken on new crew -- and have not taken on new crew in month. yvonne: on on the heels of president trump's meeting for junior, is donald trump making headlines. with theed to meeting russian lawyer during the election campaign on a promise of potential dirt on hillary clinton. let us discuss this with the managing director and practice head of asia at eurasia group and a former special assistant to president barack obama. i was asking our congressional editor in wash

shares of abercrombie & fitch are down after the clothing retailer called off any potential deals to sell itself. it has been in talks with express and american eagle outfitters. but it says it will focus on its beach themed brand hollister. it has been declining because of other clothing chains and online retailers. it has been closing stores and cutting prices as a result. >>> deals are now online for amazon prime day. amazon's 30-hour marathon sale kicked off. it is launching new deals every five minutes. for the first time amazon is also using its own fleet of planes to deliver packages to prime members within the usual free two-day shipping time frame. >> these planes, there are 24 of them currently operating in the u.s. we grow to 40 in 2018. this is all about getting that vast selection to customers within their two-day prime promise around the u.s. >> it is also a big day for thousands of small businesses which are supplying about 40% of amazon's lightning deals. you might realize that it does go and buy from these smaller stores. the online shopping frenzy runs all day today

literally being thrown out as the amazon shadow looms >> if private equity is walking away from abercrombierds of $1 billion because it has high debt levels and doesn't see the opportunity. who is going to bail out a lot of these struggling retailers? >> well, absolutely a number of these will go into workout mike knows this better than anyone teen retailers have been in chaos for a while. 1,500 stores worth $500 million, $600,000, 400,000 a store, close to nothing no doubt that some of these companies are going to go out of business seems like there is opportunity in that secular view to maybe pick up a company that has little more durability in its opportunity. >> so in this kind of environment though, a store is a liability, to pay rent for years to come and not necessarily earn at the store sales. >> at least if you own the real estate, you don't have to be in the business, you can put a gym in there and if all you have is the retail business and not the real estate. >> you have a coming accounting change that will force retailers to actually recognize the long-term costs of the lease o

. >> wear abercrombie and fitch i'd take her if i had one wish, chute she's gone for the summer. >> for in the loft. [ applause ] >> brand new music out too which is really cool. you guys will perform that for us little bit later. >> yes. >> we'll be singing with you as well. >> we won't. >> we promise we won't. wee apologize to so many are a that come in the loft we're silencerly sorry for murdering your hits. >> we do make dreams come true and we're glad molly could meet you up close and personal. >> she hasn't stopped smiling yet. >> the web world needs you. >> see in you bit. >> thank you so much. >> thank you. >> see in you a little bit. >> don't go with them, molly. don't go with them. okay. [ laughter ] >> you still got to work here, molly. >> the other thing i worked hard and made you guys an awesome sunday. >> you sure did. since we were outside. can you tell which one i made and which one they made? um -- there's is much prettier. >> did you bring forks or just two. >> i brought one. >> i'm on diet. >> there you go. when it can towels ice cream you can't go wrong. looks don't

combination of best buy fears around amazon going into the geek squad kind of business, but also abercrombiech is a name where they had strategic review options on the table for the last few months, what have you, and nothing came about. >> they were putting themselves up for sale. >> potentially for sale, didn't get a bid from private equity or other players, sending the stock down 20% and it drove all the retailers down as well. >> all with it, because it's just seen, nobody wants to invest in them or -- >> well, retailers are just a tough space right now. >> sure. >> everybody's -- the perception is that amazon is taking over everything in retail and forever. so, no one wants to invest in retail none of the long-only investors are doing the stocks and others are pressing their authorities. >> prime day is about amazon taking over retail, right? it's not just about having a big day of sales, it's about trying to get prime members, correct? >> yeah, i agree with that i think the idea of amazon's prime day is more about the ecosystem of convenience driving more prime members, which is drivin