one was julie's dna. killer. >> they were able to identify that dna profile as the exact match to james elmen. >> we were all ecstatic. i mean, it was an unbelievable feeling. and that's the reward of cold case, when you have that piece that you never had before and you're able just to put that one thing together, and, you know, you've got the entire case. >> investigators confronted elmen in prison with the evidence. >> and i'm telling you that your dna, that your semen, is in the murder scene of this murdered girl. >> i'm telling you i wasn't there. i don't know anything about this girl. >> if you're not there, how does james elmen's semen get in the damn crime scene? >> that's one of those things that you could deny until the cows come home. with technology the way it is today, there's no getting around it. >> james elmen is a monster that now sits behind bars. >> i always knew that there was going to be a day that they were going to say, we got it. this case is solved. >> based on the dna evidence, pr

>> well i'm horrified that julie loves isis. i wouldn't have expected that of a liberal democrat. >> such a sweet girl. >> i'll see you later. i'm off to syria. >> we have to go with it. at a certain point, what we learned in law school is you have free speech to the point you endanger other people's lives. if they're saying we're going to kill people in the name of isis of course they should be watched. >> agreed. until that point, they can express their opinion. no matter how repulsive. >> back to the original premise of what we're talking about. someone goes on twitter and say, i want to join isis. death to america. where does law enforcement step in? >> it begins there. >> we keep dropping the ball though jerry. that's the problem. >> we do drop the ball. i have to tell you, what's legal and there's what makes common sense. the folks who put on the art display, it wasn't common sense. >> you're not saying they deserve what they got? >> i think that if you say death to america -- >> i'm talking about the people that put on th

julie: yes, indeed. data management solution, the company coming out with earnings of $.65, the analysts estimates $.72, and the company is --ecasting first-quarter analysts had been predicting $.59, so at most, the company says we are going to make 20 five cents, and analysts were looking for 59 cents, and it is no surprise that those shares are down, alix. where do you still feel confident in the economy? big bankse of the especially are starting to break out to the upside. if that sustains, that would suggest there is some momentum in the economy, and even though it is a second quarter, off to a -- pretty sluggish start, maybe that is a suggestion it is about to pick up some speed. all right, david, you are sticking with us. lots to talk about. we will be right back. ♪ ♪ alix: welcome back to the bloomberg "market day." i am alix steel. here is a look at some top stories. the fed did not expect to raise rates in june, and though they said the economic slowdown is unlikely, and that is according to the

and at the end of july, a bigger billion thatst $4 it has to make to european government on july the greece has been thinking european finance ministers for more money to pay. they have been saying in turn that greece, you will not get any more money without meeting conditions. maybe pension reform, changing the way you pay government workers? if greece gets more money, that will buy the country a little more time and get greece to the end of the year. what happens next? we have had two big airlocks and it is likely greece would need one -- a third bailout. in order for the money to be there when they need it, negotiations with cap to start right away. olivia: that was bloombergs david girl of a nice example and expiration. pimm: and a wonderful picture of the metropolis crumbling. solution andd-aid they are just kicking the can down the road and buying more time. they are muddling through. nothing suggests to me that we are getting any further to a real -- haircut or -- pimm: kid raises an interesting question for the european commission and central bank, the imf and all the people

julie hyman at our breaking news desk. jules? julie: thank you, alix.e had a listeria outbreak in lue bell ice creams. they will fire or furlough almost 3000 workers after it shut down production. 1400 employees will be furloughed, and additional 1450 will be laid off. that is according to the texas-based company. the company is also cutting salaries in the meantime. "bloomberg market day" will be right back. ♪ alix: welcome back to the "bloomberg market day." i am alix steel. 13f filings came flooding out today. our senior markets correspondent is next to me in person. i can touch her arm. you are real! julie: as opposed to a torso sitting at the debt secured one of the things that emerged after david einhorn called the -- pie on reer natural "the mother fracker" and making the case against fracking, we've seen a bunch of investors come out and make the opposite side of that trade. stan druckenmiller, each of them taking on a case, empire natural resources specifically, taking stakes and the one that einhorn specifically targeted, druckenmiller also to

julie hanada. we were talking earlier about the patient access is spiritual care during the hospital stay what it's for something joys which help her or something more challenging. but healthcare system is its own system. people work there with nurses and radiation technology et cetera. what about spiritual care the system itself? the staff? >> we think about our staff as our permanent congregation. and our patients and their families as the transient congregation. we take care of the spiritual needs and assets of the staff as well. julie and i were talking about how we are preparing for nurses week next month. at both of our facilities, that involves the blessing of hands of nurses and other hospital workers who are interested in that. >> and how do you find the expressed need from staff coming to you? does it happen in the course of a particular situation with the patient? does happen within a particular unit that might be more stressful than other units? >> there's a variety of ways. sometimes t

fireworks spectacular. >> we own the 4th of july. >> and as the official broadcast partner we'll one again air the big concert and the fireworks show live on 6 abc on the 4th of july, we'll see you then. reporting live walter perez channel 6 "action news." >> as you make plans for the july 4th holiday be sure to visit website there we posted the full schedule of events leading up to the big show on independence day. >> coming up on "action news" tonight, young engineers from a school in westchester are giving a helping hand to two children born without -- and you'll see their remarkable creations. >>> and phillies gm rubben slams the fans. >> and today was the warmest day so far this year, i'm tracking warm days ahead i'll have all the details in the accuweather forecast. >> those stories and so much more when "action news" continues tonight. >>> amtrak will install cameras in the cabs to see what they are doing. after the derailment in port richmond earlier this month. the engineer brandon bostian cannot remember anything that happened. they are trying to determine why the train was

at thehat is julie hyman news desk, julie, thank you. pimm, that is bizarre, and here are more stories crossing the bloomberg terminal. the cheese and -- chief investment officer at pimco is going to depart after helping liquidate three investment strategies at the farm. -- firm. ceo says he will direct the transition and oversee and orderly liquidation. investigators are planning to talk to the engineer who was at the throttle of that amtrak train that crashed. investigators say it was going over 100 miles per hour when it crashed, which is over double the speed limit. trying toer recalled reduce speed before being knocked out by the crash. crashsb says this highlights the need for positive train control. >> we have called for positive train control for many, many years. it is on our most wanted list. to bess has called it installed by the end of this year, so we are very keen on positive train control. based on what we know right now, had such a system that installed in this section of track, this accident would not have occurred. taki

alix: exactly, julie, thank you so much. in line with estimates, you could call it the goldilocks report, not too much not too little, but look a little deeper, and the crocks start to emerge, you have temporary hiring any fracturing, and others all showing signs of weakness. joining me now to break it all down is true -- drew matus, of ubs, called to donna, and michael regan -- carl riccadonna and michael regan. drew: i will give this report and a minus, i would have given it a solid a, but if people keep getting hired i don't need to forecast anything else about the u.s. economy, it is doing just fine. alix: carl? carl: be minus if we see another downgrade, this is a third -- the third month in a row that we have seen these revisionsdrwe: we are going -- revisions. drwe:ew: we are going to see cage fighting later. [laughter] alix: it's really a crazy. michael: the stock market is taking this as a positive, there has been a lot of talk among some people that they believe there is some kind of pent-up wage inflation that cou

julie, thank you for the insight on those companies.zabeth warren has become the democratic party's most dominant critic of trade legislation, pitting her against president obama. to our chief spoke washington correspondent peter cook. elizabeth warren: [indiscernible] they have said basically the same thing. this is going to be a great deal for american workers. this is going to be a trade deal that is going to work for american families. , presidents, both democrats and republicans, have turned around and refused to enforce the provisions in the trade deal they said would be so great. the consequence of that is american workers -- punch right after another right to the gut. the president says, senator warren, i hear you, but this deal will be different. he has called you a politician like everyone else, that your arguments do not stand the test of scrutiny. has he crossed the line in his criticism of you? me, it's alln: for about what is best for this country. we talk about transparency. there has not been enforcement of these trade p

juli julie becoming amy's champion. and amy, opening julie's eyes to the world of disabled children showing, for example, that even so-called accessible playgrounds weren't really. >> if it weren't for amy, i would have no clue. because when you go to the park you don't see children there in wheelchairs and walkers. because they don't go there is nothing for them to do. >> it was an insight that julie shared so many times over the years, she was sure people were sick of hearing about it. but apparently her friends were listening. when it came time to choose a project to celebrate the club's 100th anniversary, they chose to build northern california's most accessible playground. inspired by julie and amy. and you can bet when the park hoped this past saturday julie and her granddaughter were there. if there was every such a thing as a $6 million smile, it was the one that amy war on the park's carousel that day. but what julie feels seeing her granddaughter enjoying the park is nothing compared to the joy knowing that am

let's go to julie hyman with what is going on in the markets. julie?ulie: first off the worst performer in the s&p 500, first solar. he worst performance since november, that was after it was now graded by rbc to underperform. the price target is $500. pricempany for all advantages versus competitors are diminishing. falling,l stocks are and that's after credit squeeze said the outlook for coal is -- credit squeeze said the outlook for coal is dire. we are also seeing colsol energy ol energy selloff. we need to see discipline or bankruptcies to "emerge from the other end of the connell" for coal. and assets for drillers were downgraded at csa, basically saying that these companies are recycling an old playbook -- a downgrade at clsa. we have been talking a lot about the energy stocks here today. bloombergook in my terminal to see how they have done in terms of the s&p 500 groups. using the percentage performance for the year to date -- that's the white line -- they are down nearly 2%, but they are actually not the worst performers in the s&p 500. that

keep it at the same number because it is still in rfp not completed negotiations no one is doing it july 1st, we'll have someone in place the program is subject to kind of budgets swings so it is hard to judge how much money and how much services they'll be able to provide we're going to use that as a base to build from and hopefully increase that actual performance. >> thank you. any questions or comments any comments or questions from the public hearing none. > all in favor, say i. > >> any opposed thank you the motion carries thank you, rose and cherlyn. >> the next item on the agenda g request authorization to enter into a new contract with national council on crime and diligence so provide the structured decision making for the adult protective services during in a 2015 in the maturely of $124,000 plus plus a 10 percent contingency not to exceed hundred and $36,000 plus and it looks like sherry reign will be doing this presentation yes, i'm giving jason is a break i want to thank kim and jason for getting this contract through our contractor was this was a tough one and he did a gre

we will give you more a detailed and the after hours after the break. ♪ i'mm julie hyman --julie: juliean. computer sciences says it is bleeding into two. one will be a global commercial time -- company and the other will be a public sector company. as a part of the split, it will stay -- pay a special cash dividend shareholders of $10 and $.50 per share. holders will on shares of both companies. a potential split of this type was reported by reuters late last week. also, wanted to bring you an update on other movers. one is etsy. those shares down sharply in the after hours after the online marketplace came out with earnings and it had an loss of $.84 a share in the quarter. revenue at $58.5 million. the stock just started trading april 15 and rose one -- a lot in its first day. those shares are trading lower at the moment as well. as a result of these earnings, they are down. by almost 11%. finally, an update on yahoo!. we saw shares fall sharply in the minutes before the close of regular trading. there was a report in a chinese the country was considering some sort of increase in imp

>> jimmy: julie bowen! "modern family" airs wednesdays at 9:00 pm here on abc. thank you, julie.devine. we'll be right back. >> dicky: portions of "jimmy kimmel live" are brought to you by live nation's first ever national concert. buy tickets for this summer's tours at livenation.com. if you struggle you're certainly not alone. fortunately, many have found a different kind of medicine that lowers blood sugar. imagine what it would be like to love your numbers. discover once-daily invokana®. it's the #1 prescribed in the newest class of medicines that work with the kidneys to lower a1c. invokana® is used along with diet and exercise to significantly lower blood sugar in adults with type 2 diabetes. it's a once-daily pill that works around the clock. here's how: the kidneys allow sugar to be absorbed back into the body. invokana® reduces the amount of sugar allowed back in and sends some sugar out through the process of urination. and while it's not for weight loss, it may help you lose weight. invokana® can cause important side effects, including dehydration, which may cause you

julie hyman sees those down erratically in after-hours. julie: yes, indeed. the company came out with an earnings per share of $.65. the projections look even worse. the company forecasting first-quarter earnings per share of $.20 to $.25, analysts had been predicting $.59. at most the company says they will be looking at $.25 and it is no mystery why the shares are down. absolutely not. where is the sector that you still feel confident in the economy? the financial sector is starting to do a little bit better. some of the big banks are especially starting to break to the upside. if that is sustained it would suggest that there is some momentum in the economy and even though the second quarter is off to a sluggish start economically , maybe it is just that that is about to pick up some speed. that is what i am watching most carefully. david, you are sticking with me. karl, thank you for joining us as well. thank you, lisa. we will be right back. ♪ ♪ welcome back to "bloomberg market day. quote -- date." -- day." first quarter economic slowdown was can -- was

calendar and investigate the issues and he'd them i strongly urge you to continue this project until july 2nd when all the dr requesters will be out the country or sulfate when all the dr requesters are present this issue deserved to be taken off calendar if not please continue it until the dr requesters are here. >> thank you. next speaker, please. >> good afternoon commissioner president fong and members of the commission i'm robin tucker the co-chair the pacific avenue neighborhood associations with any to my right is my colleague we're the dr requesters we oppose the continuance date of june 4th and please consider taking the agenda items the dr off calendar until much time as all issues and maertsd related to the property are fully disclosed and misunderstood we're asking for a july 2nd date when all the dr requesters can be present neither my colleague or might have are available for for the june 4th i request why would we go forward if the dr requesters can't be here i'll read two paragraphs to make sure we get this on the record. >> there is matter that we have no knowledge of whe

julie: it sounds pretty risky.t to your trade for the day, which is in the airlines, which have been fascinating recently. the airlines entering a bear market and then rebounding somewhat. what do you think happens from here? max: the opec meeting will have an impact. the energy names have a higher volatility going in to the meeting, so the options market reflects this opec event. strangely, the airlines reflect that volatility. united, continental, delta, the ball is -- the volume is pretty muted. crude obviously affects their prices. we like the downside. it seems like the sentiment is pretty parish. there was a big pullback in the airline space on this lack of discipline and low fuel prices causing excess capacity. we think it is a bearish market. the put spread, you can get that for about $.40 and it looks like a great inexpensive way to get downside. julie: thank you for joining us. don't go anywhere. there's much more bloomberg market day after this. ♪ pimm: good afternoon it's not a in san francisco. it is n

julie: interesting stuff. we appreciate it.ywhere. ♪ we live in a pick and choose world. choose, choose, choose. but at bedtime? ...why settle for this? enter sleep number... don't miss the memorial day special edition mattress with sleepiq technology. sleepiq tells you how well you slept and what adjustments you can make. you like the bed soft. he's more hardcore. so your sleep goes from good to great to wow! now we can all choose amazing sleep, only at a sleep number store. save $500 on the memorial day special edition mattress with sleepiq. ends sunday! know better sleep with sleep number. pimm: good afternoon. it is midnight in hong kong. betty: stocks rocked -- soccer rocked by a scandal. 14 people charged on blundering and racketeering. they took millions in bribes before choosing world cup host cities. pimm: greek prime minister alexis tsipras said his country is close to an agreement with creditors. the age of 90, former aig chief executive hank greenberg is waging one of wall street costs longest and most expensive war

filing. ♪ julie: this is "bloomberg markets." i'm julie hyman. company courting people familiar with the matter, other possible partners as it seeks $5.9 into china and its billion online video market. the maker of candy crush says it will not return to growth until later in this year. the company's profits were unchanged last year although both did beatest mats. -- j.p. p. surma organ said a probability versus a possibility. shares up at yum! sln up 1%. erik: russia's economy had its first decline in almost six years. better than all forecasts in a bloomberg survey of analysts. stalled last year after the u.s. and europe imposed sanctions over the fighting in the ukraine and the ruble plunged. olivia: and u.s. prosecutors will not seek a guilty plea. barclays fine may be around $50 million having to do with the manipulating of an industry. erik: and a boxing ring. former presidential candidate is taking on evander holyfield at a charity event. e two are raising money to needing vision help round the world. olivia: we took a look at the bloomberg

julie, how bad was it for take 2 ?: it looks like they are falling by about 3% out of the gate. investors and traders are having the first opportunity to react to these numbers. analysts had been anticipating a loss. it seems as though the problem is the forecast coming from take-two, which is the maker of grand theft auto and other video games. it's adjusted earnings per share --l five cents to the dollar $.75 to a dollar. one .4 and most will be billion dollars and analyst had been anticipating $1.5 billion. the company has raised a buyback, but not enough to pay for those shares. alix: julie hyman, thank you. that rested up for the bloomberg markets. have a wonderful evening. ♪ >> from our studios in new york city, this is charlie rose. cardinal jaime ortega y alamino is here, the archdiocese theavana and cardinal of catholic church. he became archbishop of havana in 1981. he participated in the conclave that selected pope benedict 16 and pope francis. ly,

we want to get to julie hyman in the newsroom. mixe: at fake and an linkable move in the markets. -- a big and inexplicable move in the market. line on thethe screen behind me. leg downward, which we are already down. the losses toed about three quarters of 1%. that is happening on all three major averages. they have mirrored the move we have seen. ,f you take a look at the dow it seems pretty broad based here in terms of the decline we are seeing. not confined to anyone sector. want to point out the move we are seeing in the financials, the spider financial etf is one --a hit down almost down almost 1%. 90% of the components are down. downtrials which were before, down more sharply 1.1%. the only group in the green at this point in time. scarlet: i'm also looking at crude oil prices. the dollar remains slower. treasuries are also at a lower yield. probloomberg market day, go may be known for its wearable cameras but the company is branching out and investors seemed like it. . . . scarlet: it is 11:00 in new york and 4:00 in londo

julie went to specialist who gave them the news. fitzgerald/avery's mom >> "he took one look and said there are multiple, multiple tumors." we will probably not be able to save his ieye > >rebecca:it was cancer. 75 percent of avery's eye was covered in tumors and it had to be removed. had they waited much longer it could have spread to his brain and blood. the fitzgerald family found out avery had likely been blind in his left eye his whole life, but tumors started growing just six weeks earlier. his dad says he has very simple advice for other father's out >>:listen to your wife. trust your gut and did not wait to see if it improves--do not wait >> vicki : the family does not know if he has to go through chemotherapy but they are pretty sure that all the cancer has been removed with his eye. he will get a prosthetic i severe weather continued in the central of the country today. you can see here the flooding in texas.where some people had to be air-lifted from their homes. reports of significant damage to homes in and an unknown nu

julie: we

julie: euros? latin? i do know. math and lamborghini says it could bring as many as 300 jobs not huge number. if you break that down, 1100 million dollars with tax picks about the hundred $70,000 in dollar terms, per person that they are hiring in tax breaks. betty: you've got to love europe. a lamborghini suv. ok, so partly what that is about is about the regular lamborghini is not huge market in china because roads are not very good. i guess if you have a card that -- you are trying to drive it on a bad road. jay: range rover is on fire in china and i think that is the right car. betty: now i know what to get you for christmas. there you go! much more on "in the loop" in two minutes. ♪ betty: we continue to count down until the opening bell. it is time for our deep dive into number five. david taking of they swing at shell producers. speaking at the conference yesterday, he slammed them related to fracking saying it is ends -- expensive and a terrible investment. streets man -- street smart anchor alex joins us no

h requesting authorization to enter into a new grant agreement with self-help for the seniors for july 2014 to june 30th 2018 in the amount of hundred and $50,000 plus plus a 10 percent contingency for a total not to exceed hundred and $73,000 plus the purpose to provide emergency short term homemaker and personal care services to eligible 57b8d individuals the grant will be funded through county general funds. >> hello, again commissioners as you stated the item is a new 3 year home care for seniors program the program itself as described sends out a person to complete the caregiver services open a short term basis the types of services provided fall under 3 personal care services and a shower services typically the clients most uncommon this program utilized by clients that have an application pend for state funding ssi services to cover that bridge and sometimes the clients running home from hospital or rehab facilities need short term health at the home and some referrals come in from clients need an occasional clean up around the house the provider is self-help for the elderly the

julie hyman has the details. it looks like target had a good quarter. julie: it did. if you look at the earnings pressure, they reported $1.10 and $1.2. they have been emphasizing its children's and baby and wellness items. that strategy seems to work. there was also the lilly pulitzer collection during this quarter. brian cornell, the ceo, has been focused on areas of the store where they see more demand they are raising the lower end of the earnings forecast for the year two for 50 to 465, that is the range they are looking for. they have presumed buybacks. a target i've hundred $62 million their own stock in the first quarter in that their first back since 2013. erik: it looks like this is a margin story because target same-store sales came in line of 2.3% and revenue is in line with estimates. the bottom line is much better than analysts thought it would be. julie: some of that might have to do with the trajectory of target, if you will. remember they had the big data breach that lost a lot of customers. not just because of that but because of the target actor was

julie hyman is in the newsroom. julie: thank you so much.me prices are up 4.1% year-over-year, march over march. the 20 largest cities in the u.s., that year-over-year number is up 5%. it is a pretty significant increase year on a month over month basis. we saw an increase of 9/10 -- of .9% in the broader national index on a month over month basis. we saw .8% increase. steady increases an interesting come -- commentary coming from the chairman of the index committee. he says you might be asking yourself at this point if it is a bubble. the only way you could be sure is to look back after it is over. he said it does not necessarily argue for a bubble because we are seeing a slowing of increases. he does point out home prices are rising more quickly than per capita income or wages, narrowing the pool of homebuyers. julie: we are following a major takeover today in the cable tv industry. charter communications is agreeing to buy time warner cable. the deal is worth $55 billion in cash and stock or charter will pay $196 per share, a 14% uptick a

scarlet: thanks so much, julie hyman. and the $55 billion deal for time warner cable, certainly the headline of the day. here to discuss, a partner in senior -- and senior portfolio manager at skye bridge. i guess it was not that big a surprise charter would make a bid for time warner cable. we knew because they made an offer before. guest: the price it sure was nice. from our perspective, this is a great location of many managers that stuck with this strategy through the tough times in late september and october. of course, when the doj and the sec deep-sixed to be comcast acquisition there were fears that time warner would selloff significantly, but it improved its operating performance. people did expect a bid from charter. and of course, also of interest is what caused the higher bid. if you bet on it, you are very, very happy. if not, you're not us enthusiastic. scarlet: so, what happens with comcast? what would its next move the? they have the firepower in they want to do more. guest: t-mobile, cablevision. you saw

thank you, julie, our senior markets correspondent.s first quarter earnings and 30 minutes and we're looking to get an update on turnaround efforts. the results, the heels of macy's and ralph lauren, who this morning were both trading lower on the news. i want to bring in retail veteran steven newman, former ceo of loman's, who also served as president of brooks brothers and eddie bauer. stephen, think of for being here. you have looked through macy's and ralph lauren. what is your biggest take away as we begin the retail earnings season? stephen: one quarter does not make a year. i think three more quarters for people to make directions -- as far as macy's, what they came out with and spoke about was that tourism was down, which it probably was a little bit. i am not a believer in the west coast port could have made the earnings lower than they would have expected. i also think that in general, and this goes to ralph lauren, too, the winners today are people that have exciting things in the stores of exciting things that consumers wan

julie: bob iaccino thank you for talking about the oil prices. stephanie: thank you julie hyman.e take a look at the top headlines. call of the consolation prize for endo international. they agreed to by par pharmaceutical in a deal valued at about eight alien dollars. -- $8 billion. endo lost a bidding war two weeks ago. charles evans is in no rush to raise interest rates, speaking in stockholm. he said inflation is way below the fed target, so great should stay near zero. >> and>> this a forecast, i think the committee should refrain from raising the short-term interest rate until there is much greater confidence that inflation will be at our 2% inflation target. i see no compelling reason to be in a hurry to tighten financial conditions before then. stephanie: the senate has said it will wait until it is confident inflation will rise to the 2% level. >> amtrak trains are rolling again from philadelphia to new york city. the fbi is entering the investigation and agents are looking into reports that something hit the windshield moments before it derailed. gas prices are surging

let's take you to the breaking news desk where julie hyman has details. julie?nordvig -- julie: thanks. a reading of 3.09 that does or a rebound from the prior month when we saw a contraction number , a negative one point 19 rating. our economist at bloomberg had predicted there might be a downside in the number because of other manufacturing numbers we have gotten recently. empire manufacturing is the measure of manufacturing in the new york area. the more important number this morning will likely be industrial production which has a manufacturing component to give us a more complete picture. erik: thank you very much. julie hyman with the latest on empire manufacturing data. 9:15, we have industrial production. at 10:00, university of michigan. stephanie: when we return, home depot cofounder is here to tell us whether chris christie will be entering the race for the white house in 2015. and if not, who will he support? we are sitting down with the one and only ken langone. ♪ stephanie: welcome back to "market makers." i'm stephanie ruhle. chris christie has ye

erik: with got to julie. julie: you need people to buy stuff for this one retail at number three. tiffany's, all out with earnings this morning. shares are down 11%. i'm checking them now after the earnings forecast fell short of estimates hurt like currency fluctuations and sluggish sales in the united states. probably more important for course it lost its cool over the past several quarters after growing rapidly for a while and overtaken coach and consuming coach. we have seen cores have fallen victim to the same mistakes coke is made. tiffany also came out with earnings this morning and profits beat estimates. they tried to counterbalance currency fluctuations are trying to interest a new product and that seems to have worked. stephanie: when i look at the numbers tiffany has brought in and europe, they are crushing it. is this another case of currencies in the fact that when it comes to europe, luxury is on sale? julie: it seems like it is working for them. it is more a problem here than in europe. but yes, when you make a conversion, it will be a problem. stephanie: signature

i'm looking at exxon mobil to the july 87.5 puts. you can spend $2.75 cents. >> trade looks good, mike, you look spiffy also in that tie. >> i got all dressed up to talk about oil. well, this, obviously, it's been pretty weak. i don't know if goldman sachs $25 price for oil is going to hold up or fought. but i will say this. there is a situation where long these puts are in the money. i think the best play at this point is to probably roll down and out. you can either go to the august 85s or as far as out to october. that is approximately what those july 87.5s are worth. you can swap with those. >> why the oil? >> in general, they do. today we have this big ricochet in crude as gas is going the other way. but the energy stocks have had their bounce, if you will. >> meaning it is done. >> after a long precipitous decline and then you get a violent ricochet, up some 16% off the low, essentially that's what's happened with the official sector. now it's backing and filling. stay away from all that. >> the other point also is that oil is

let's go to julie hyman in the newsroom. julie: we are approaching the top of the hour.a quick look at what is going on on his final day of the week going into the holiday weekend, we have seen volume trending below where it typically is. we also had that inflation number this morning, consumer inflation rising the most in two years, stocks falling across the board. the s&p, dow, and nasdaq all pulling back. ,or today's option insight equity derivatives strategist at baycrest partners joins me. is a little slow going into the holiday. but what are we seeing in the options market as a result of that cpi numbert today? in other asset classes we were seeing a big reaction. the fix, we think it is going down towards the 10-handle mark as we approach the lowest volatility period of the year seasonally, then we saw a guy who sold -- we believe he sold some of the vix calls on may 14 come back today and by those calls back. that are the june 18 calls we saw go up at $.45. happen?hy would that our analysis is right, he sold those june 18 calls on may 14 around $.90. he could cov

julie hyman, you are looking at recent ipos? julie: i am. we've seen some divergent performances.ublicmpany becoming more than a month ago. etsy shares falling because "the wall street journal" reporting amazon has sent out invitations to etsy sellers to something called handmade, a marketplace for artisans that amazon might be starting. shares off about .9%. party city getting analyst initiations. when a company ipos week tend to see initiations and month later. the equivalent of buy or outperform from companies like morgan stanley. shares only up about .25%. the other ipo, shake shack. week.g more than 30% last news that it filed a patent on chicken shack. shares off by 7%. they soared 340% since the ipo at the end of january. "the new york times" writing "shake shack shares could hit an overvaluation." you think? more than 300%. pimm: shake shack shares. betty: it is not easy. pimm: let's take a look at top stories crossing the bloomberg terminal. defects in general motors' ignition switch is linked to 107 deaths. families of victims are being offered $1 million from gm's compe

david: the real crunch time is the middle of july.ment to the ecb on july 20, and they will be unlikely to make that payment without outside help. that's when time runs out for greece. mark: speaking more about timing, greece gets its share of tax receipts in july. will that be too little and too late to help? for sure,do not know but in all likelihood, that would be too late. receipts tend to come in towards the end of the month and that payment is due on the 20th of july. at the imf, there may be some wiggle room for delaying the payment by couple weeks, but if payment tohe july 20 the ecb, they will be in default as of the next day. it will probably be coming into late. it will probably be coming into late. mark: should we be reading behind -- between the lines with 'sime minister tsipras comments today question mark is he drawing a line in the sand? david: at first they sounds encouraging, saying we are almost ready to make a deal. he says, we are ready to make concessions as well -- as long as you agree to everything we want. he

mark: julie hyman with breaking news.ll continue to follow this developing story and bring you more updates here on bloomberg television and on bloomberg.com. back to camden fine. we were discussing these markups to dodd frank and the bill being put forth by the chairman of the senate finance committee, richard shelby. thank you for your patience. i wanted to talk about something that happened today. reported that in the first quarter, profits and community banks were nearly $5 billion. that is a 16% increase year-over-year. where is that strength coming from given that you and your organization claimed to have been overburdened in some instances harmed by excessive regulatory environment? >> an excellent question. joke,inds me of the old compared to what? 16% sounds pretty robust year-over-year. look at the years we are comparing it to. we had the worst financial crisis in almost a century. our banks are digging out from that crisis. if you go back to the mid-1990's or the first few years of this century, those figures t

the vote was taken on not july 4, but july 2, 1776. there were very minor word changes that got voted on and except did. the document didn't take effect until august 2. on july 3, john adams wrote a letter to his wife saying, forever enshrined in our nation's memory will be the date of july the second. [laughter] how was john to know? this is the declaration of independence here, with the famous signature of john hancock. one of the myths about john hanson, and there are quite a few, is that he was a signer of the declaration. he wasn't. he was a signer of the articles of confederation, but not the declaration of independence. at the same time that the declaration was put forth, there was a motion put forth to form a continental congress and have it draft a constitution. it ended up being the articles of confederation. this was in the summer of 1776. by the fall of 1777, the committee reported in. keep in mind we don't have a , government yet. the second continental congress was a consultative body of 13 colonies and states that were t

julie: we do.here is suspense as we get towards the closing bell of the week about whether we will fish high or low. if we see any kind of gain today, he will be another closing high for the index. is trading higher, by less than a point. any gain would be enough. in terms of the balancing act we are seeing in today's session, utilities have been doing the best today as we have been seeing yields push lower in the treasury market. financials are down about half a percent. i mentioned the 10 year. let's take a look where it is trading right now. we have seen some buying in the treasury market today, and yields down. that's after we got that consumer confidence reading this morning from the university of michigan that show the biggest drop in two years' time. raising some more pessimism economy. u.s. applied materials are up on better than estimated numbers. manteca and dillard are taking a hit today. scarlet? scarlet: thanks so much. alix: the world's wealthiest university is spreading the wealth. h

julie hyman is standing by. julie: we have stocks declining across the board.y moderate declines. two fourths of 1% down across the board. we were talking about the advances we were seen in energy prices and therefore energy stocks. of course, that is being counterbalanced. stocks why we are seen declined. materials stocks, that is a big stick liner by percentage, down about 9/10 of 1%. that is wiping out the gains and then some. let's go towards materials. disappointing earnings. fmc corporation coming out with earnings per share that missed analyst estimate. taking 6%. international flavors are reporting earnings that beat estimates but their forecast is coming up short compared with what analysts had been anticipating. those shares down about 4%. let's check on rack space. this is a provider of cloud services. going into its earnings report, expectations were someone elevated because amazon, remember, broke out its web arvices numbers and reported 49% increase in sales. rack space, it was tough to meet at elevated level of expectation. rack space coming out