now, you see raymond james and stifle. >> that's the wrong list, though, because we do break the top, that's quantity not quality. >> if you combine with raymond james, you are in the -- not just a regional broker, you are rubbing up against morgan stanley. a lot of people tell me that you built this. you're the longest serving ceo in wall street, how long did you say? 25 years? >> 20 years. >> okay. i haven't heard that in a long time, 20 years for a ceo on wall street, but you built this firm, moved up the ranking piece by piece. are you ever -- are you going to do the there was transformatial deal? >> you always tell me things that are you think i'm thanking i'm never thinking. this one is not going to come true. raymond james is great firm, great friends of mine, our business, it's like trying to merge companies that are too similar, we have big institutional businesses and at the end of the day the numbers don't work. they're great competitors, but i don't see that transaction. >> well, not dry on stern. >> no, it is dry. we closed that deal friday. >> barrel dry friday, you do

we have raymond james weighing in on this issue today. assaying the u.s.recovery be somewhat muted because of the u.s. economic atlook as well as sort of price final potentially between american and southwest. you can see american airlines, delta, are all lower and even the company that was mentioned as a favorite by raymond james .s lower, talking about spirit bloomberged the airline market because it has entered a bear market. decline,ore than 20% the entrance of a bear market. happenedok at what's over the last five years. this is after a huge run-up in the airline stock on capacity discipline that we saw the industry. pricing power and also, a lot of hedge fund managers have been investing in those airline stocks. we will see if they stick with it now that they have changed direction. olivia: still to come, much more including greek finance minister speaking right now in berlin. exasperated grows, but they are digging in their heels. every day counts for greece. ♪ olivia: welcome back to the bloomberg market day. greece is at the top of the agenda as h

urban development and california tax credit committee and federal home loan local initiative and raymond jamesrds and the humans agency thank you cindy and joyce and city attorney's office beven and kirsten thank you all our political supporters look at all the board of supervisors thank you to sxhooikz and commissioner tang supervisor kim and supervisor mar and captain david lazzaro and thank you, derrick for all the free tickets that's not in the script i added that and once again aaron and

xilinx was raised to a strong by over raymond james.aymond james says there will be significant customer angst from some who will now have to work with intel by virtue of being altera client. xilinx is most likely to benefit. the semiconductor index is now trading at the highest we have of 2000 threeober at all of these deals have benefited the group. i wanted to look at another deal we have been looking at today. group agreed to be acquired by apollo management for $1.30 billion. platform specialty products will be buying the couple of units. those shares are higher than 2%. was -- that was julie hyman with the latest. olivia: there is a complication in an attempt to reach a deal with iran. secretary john kerry broke his leg in a cycling accident over the weekend. .hat will limit his travel the u.s. and other world powers want to curb iran's nuclear program. in exchange they would agree to ease nuclear sanctions. senator lindsey graham will formally announce his launch -- his bid for president. will insist on the need to strong arm ira

olivia sterns and pimm fox sat down with daniel mcmahon of raymond james. el: you asked our institutional investors, you sit back and wait, because the volume has been incredibly any make. below average for the past six weeks. forably trending lower several months, if not dating back to november. you talk about it being you're starting to see frustration amongst portfolio managers. everything is very highly correlated, challenging to outperform benchmarks it not a lot of catalyst to do much of anything. olivia: why isn't there more volatility? headlines out of greece are still pretty bad. nobody seems rattled by the resurgence of the islamic state, if you can call it that. the whole crisis in the ukraine, russia -- i won't get into that. there are a lot of geopolitical things going on around the world. pimm: i was just going to say, debbie downer over here wants to know why people aren't selling. daniel: coming into the year, all the pundits expected an increase volatility. it has been one of the least volatile markets we have had since 2009. as for the hea

even the one airline that was added to the favorites list over at raymond james, spirit, that stock isetting a boost. it is trading downward 1.7% along with the rest. take a look at my bloomberg terminal. you are looking at the year to date chart. this is the bloomberg index of airlines. 20% from the two bottom. we do not know if it will continue going down, and it is continuing to go down. it is more than 20% at this. . definitely in the bear market range for both airlines. scarlet: thank you so much. julie hyman with the latest on the u.s. market. the dollar getting big attention. you can see it right there, halfway through the chart. that is following reports that he bomb said privately that the greenbaum -- that president obama said privately that the greenback was too high. i did not say that and i make a practice of not commenting on daily fluctuations of the dollar or any other currency. scarlet: joining me now is bloomberg economics editor michael mckee. whenever we talk about the white house, the administration, and the dollar, seems to be the spoiler trait -- boilerplate that

urban development and california tax credit committee and federal home loan local initiative and raymond jamesrds and the humans agency thank you cindy and joyce and city attorney's office beven and kirsten thank you all our political supporters look at all the board of supervisors thank you to sxhooikz and commissioner tang supervisor kim and supervisor mar and captain david lazzaro and thank you, derrick for all the free tickets that's not in the script i added that and once again aaron and so many people to thank i'm going to cut auto u out and introduce our first speaker silicon valley fiona from silicon valley valley bank if i speak too fast too bad. >> thank you everyone it is good to be her o from silicon valley bank i'll keep my remarks short i'm told the two words you want hear from a banker is your approved i shared the incredible stories the story from the rubbles to new begins like lydia flores moved ♪ april the incredible enthusiasm from the bank and, yes for the involvement to 9 project i want compromise convey it to wit new and the entire team i come to release as much asia i li

alix: raymond james said expect it lower into the summer months and muted -- you wouldn't expect that. he has a different take. i was looking at energy, the second are finishing relatively neutral, but you did see a big move in oil stocks and oil in general, and upgrade for oil stocks at oppenheimer and in terms of oil price, you had eia coming out, downgrading its forecast for july. still expect production to be at a 43% high but shale inching lower. joe: one headline that hit before the bell was another company boosting the amount of cash it gives to shareholders. target boosting its dividend by 7.7%. there was a goldman note out that said stop buying back your stock, but investors seem to like it. alix: and goldman itself doing a buyback -- we don't like that you do it, but you are going to keep doing it at the end of the day. two other stocks that hit on earnings -- lululemon and dave and buster's. these stood out -- this is what investors want. they want premium pe multiples of the sexy growth stories, high-growth consumer names. lululemon had 5% comps and dave investors had almo

pavel molchanov of raymond james. good point in terms of there being concerns about the environmental impact of fracking long before and that has not stopped or impacted frackers. >> it's going to become a headwind for these names. but you know what a rusty wheel this whole regulatory committee could be. there's going to be a ruling on this. but it shouldn't let you really start to change your mind about a lot of these fracking companies. enp companies they call in the service names. those are the guys that do the fracking most of the time. it's not the enp guy who does it but at the end of the day the whole sector is going to be affected by it. not short-term. >> tesla facing heat with new competition from bmw announced today. but there is a startup that could be another threat. the ceo of renovo motors joins us next. stay tuned. ♪ ♪ at chase, we celebrate small businesses every day through programs like mission main street grants. last years' grant recipients are achieving amazing things. carving a name for myself a

raymond james was worried about overcapacity. his stocks took it pretty hard. it was a bad day for casino stocks, especially casinos that have operations in macau. las vegas, mgm resorts, wynn resorts all lost more than 5%. after several analysts predicted substantial drops in gaming revenue. wells fargo predicted the drop from the the year-earlier could be as 8%. other analysts piling saying june is going to be a rough month for game revenue. casino stocks took that news pretty hard. angie: thank you for that. joining us at of new york. news'st of bloomberg this week. new digital content all on one address. iso claims that china developing profiles of u.s. workers and private citizens as part of a long-term strategic espionage campaign. that according to a u.s. congressman. while actor utilities and battery system will work together. coming up next, cat and mouse, why greece is playing a dangerous game with its creditors. angie: south korean president is being urged to cancel a planned trip to washington. criticism grows over the handling of the outbreak. seve

in particular, raised to a strong bio raymond james saying it might be poised in particular isbenefitfter this deal close by getting perhaps some of those customers. i wanted to look longer-term altera and what happened to the stock price. you see the year-to-date chart of altera. we reported back in april that they had rebuffed an initial offer of $54 a share from intel. here's april, here is $50. the stock was trading well over $54 and that point in time. longer-termck even and look at a longer-term chart of altera, we haven't actually seen $54 since around 2000. 15 years was the last time altera touched $54 a share. it's interesting that they rebuffed and then decided to accept the deal. also wanted to point out the deal activity we have seen in broadcomy now with the deal last week with some other deals we've had, you're looking at a longer-term chart of quarterly deal volumes of technology mergers and acquisitions. as you can see, we have a quarterly record here. in green is the number of deals. in blue is the volume of deals. even though the number of deals has not been huge, be

mcmanamon is daniel at raymond james. what do you do in a market that is so range bound?aniel: if you ask our investors, you sit back and wait. it has been incredibly anemic since mid-may and trending lower for several months if not dating back to november. you talk about it being range bound and you're starting to see frustration amongst portfolio managers. everything is highly correlated and it's challenging to perform their benchmarks. that is not a lot of catalysts to do much of anything. olivia: why isn't there more volatility? the headlines out of greece are still pretty bad. no one sins rattled by the resurgence of the islamic state, if you can call it after the oil prices in ukraine and russia essentially -- i won't get into that. there are a lot of geopolitical things going on around the world. --m: i was going to say debbie downer over here wants to know why people aren't selling in the face of all these negative tity? daniel: i think it's just old is good it has been one of the least volatile markets that we have had since 2009. as for the headlines, i think yo

. >> raymond james cutting yunite, american, and one other i believe as well.m apple's worldwide developers conference. we want to get some final predictions. john ford and josh lipton are live. lipton, good to see you. what are your thoughts going in? >> well, listen, obviously apple is always great surprises. i'm hoping tim cook has an ace up his sleeve. we talk about that new music streaming service but certainly it would be very radical -- i'm sorry, there we go -- certainly a radical change in apple's music strategy to see that streaming service. you understand why they want to make that move last year downloads dropped 9%. streaming popped 30%. so, also, listen, what about the artists today? a lot of talk who will be taking the stage, carl, could it be dre, drake, pharrell. a lot of surprises still in store. >> even without it -- >> i think the question is, the issue is jump on in. the water's fine. we saw what happened with ios 8. people were disappointed with the size of that download. i think they're going to want to talk efficiency here. say ios 9 wil

. >> let's bring in a market player here, of raymond james, to see how he feels about what's taking place around the world. jeff, welcome back. >> thank you very much. >> so you want to put this into perspective? what should we do? >> i've agreed that you buy the dips. the question is how big the dip will be. it reminds me of the movie "trading places "where they say margin call, gentlemen. with what's going on in china and greece and you have the 8%, puerto rican bonds trading in the 60s. there's a lot of people hung up and i do think you're getting the margin call here. >> there are fears or concerns about this pending correction that people have been waiting for forever. maybe this is the tipping point that pushes us over that edge. >> yeah, i wouldn't disagree. if we don't hold the 20/40 to the 20/70 level it could get nasty. >> pete? >> does this even qualify necessarily as a dip right now? we're looking at a market today we've seen on so many different levels. >> i'm saying if this is the beginning of something. a 1% move is nothing relative to 18,000 on the dow or where we are on t

. >> raymond james also cutting american airlines to a market perform.cally -- >> god, they're cheap, though. these names -- >> really, really cheap. >> american airlines the competition specifically in the dallas-fort worth. >> southwest. >> they're competing against southwest and the capacity there. >> price disciplines there is what they've gsh. >> this is kind of the way you have to look within the industry, you have to go relative value, some of the smaller more regional guys against the big boys. i think the big boys are the guys where the prasm is most under pressure where the -- >> passenger revenue per -- >> per available seat miles. this is the case where everybody's priced things as bad as they got. offset by low fult. this is very cheap. if you think these guys are going to throw five years out the window in the next six months then you sell them. but i wouldn't be -- >> i'm afraid of the industry. clearly the momentum part of the trade is very much over. people thought yeah, yeah, but it's going to turn. so i wonder at what point do you feel

. >> this is upgraded by raymond james today. the first big move nuance has had in the past couple month, we had that big earnings gap. this stock looks like it's ready to take off. if you are a trader you peel off a third, a third, a third, wait to buy more but it looks fairly good. >> for one gut busting meal. at the extreme eating awards. watchdog the seafood chain's creature own combo could potentially serve up 4,000 caloriesful we have pete here choung down. the reason question is whether he can chug down the 24 ounce lobsterita. this is worth all the calories you're putting down. work out afterwards, maybe have to go to those big pharma names make sure you are going to be healthy. >> is the lobsterita lobster flavored? >> no. no. no. this is phenomenal, it's extremely sweet and it's going to put you over the top, but this coconut shrimp -- >> that's the ant dote to the other one. you eat them together? >> i think you can eat them all, there's fries that are phenomenal, something about this shrimp, though, it's really good.

american airlines dropping more than 5%, raymond james downgraded american airlines, they say it couldquote somewhat muted demand. they're blaming weaker economic growth. down 5.5%. now look at apple. worldwide developers' conference starts today. new software may be, and possibly a new music streaming system, $10 a month. no change for apple's stock thus far today. barnes & noble splitting one unit's going to sell textbooks for colleges one's going to be plain old retail. it's the barron's bounce stock of the day, ands it is bouncing nearly 1.7%. history has been made. american pharoah winning the belmont stakes on saturday making him the first triple crown champ since affirmed in 1978. look who's here, the man who wore seattle slew to a triple crown win in 1977. jean krueger. >> very good. stuart: i want to compare the two horses, i want to run the video of the final as they came into the straight. let's run that, please, because i want to have jean here commentate on the horse's performance. it seemed like he was pulling away as he crossed the finish line. was he? >> seattle slew wa

raymond james saying the stores should see accelerated revenue growth and that should be positive for. dollar general was left out of that family dollar, dollar tree deal. these calls are positive this morning on the business going forward. erik: lots of people like the idea that that stock can do well. thank you very much. julie hyman. when we come back, we are talking about tampa bay. the lightning beat the blackhawks in game three of the stanley cup finals. jeffrey vinik will be with us for the next hour to talk about how to make the business out of hockey in the great state of florida. ♪ erik: good morning once again. it you're watching "market makers." stephanie: coming up, ge sells and stifel is buying. erik: the tampa bay lightning owner on the stanley cup and building a successful franchise in florida. his big development plans for tampa bay. jeff vinik will be with us. stephanie: the largest bank in europe says it will cut thousands of jobs. it's a job aimed at restoring profits. they will eliminate as many as 25,000 jobs. that is 10% of the workforce. that blows my mind. the

next stock, goldman sachs, raymond james downgrading goldman sachs to a market performance.e stock hit arraignment james price target on june 2nd. the sector has outperformed the market. it's up almost 7%. goldman nice trade on a tough day. >> i was just saying to the audience it was the only dow component that was higher about ten minutes ago and looking right now guess what? it still is. that's goldman sachs but one day. i get it. finally today's under the radar name. bill barrett. oil and gas company. bbg about $5.5 million market cap. their target goes to 14. they downgrade two others. >> bill barrett is down 64% in the past year. 500 million mark cap today was much bigger a year ago. >> they operate in unusual areas in baysins in utah. >> a big move in bonds. how significant those, is that move. joining us is jon najarian. put this in context, feels like the bond market has been whipping around lately. >> it does and has. no doubt about that. but i just want to point out what a great job janet yellen has done not because she signs my checks but because she's basically t

joining us airline analyst from raymond james. joining us today. >> jetblue are making all kinds of changes. is that necessary to survive in this competitive environment right now? >> it is. if you look at the domestic average fare prices, it's only been up 5% versus fuel cost. they need to drive profitability somehow and unbundling and matching revenue to cost is a good way to do it from. a passenger standpoint, you are getting a better fare and you can choose how expensive your trip will be. it does give more autonomy to the passenger. bottom line is there is a lot of cost pressure for airlines and they need to cover it some way. >> you bring up this pricing model. what will happen going forward you will have the basic cheap option the blue option with no free bags. blue plus will be about $15 more and will allow you a free checked bag then blue flex could be as much as $100 more. it's fully refundable. a lot of people using orbitz might see the lowest option. people go to jetblue.com for tickets. do you expect people to upgrade

raymond james raises walmart and valuation.ve a new chairman over at walmart, but sears, the sears comps down 14.5. you take out lands end and dissupposedis dissuppose canada and that's what you get. >> the financial engineering continues. all of it designed to reassure those who are financing their suppliers and they seem to have done a good job of that. the stock is up sharply and up this morning. >> the equity is 4 $.3 billion. it does kind of say there's some value. >> we did 12 consecutive quarters and 14 .5%. it's hard to put up numbers like that. down 14.5%. >> down $6 billion? >> this has been a better progression han mcdonald's but at the same time it's hideous. >> johnson at one point got down to 29. that was the benchmark of bad. >> i stand corrected. >> it's bad. >> people do ask where has all that business gone? it hasn't gone to macy's. >> home depot and lowes. they won't confirm one to one. they're excellent companies and all they do is say listen we're taking it from the people who don't have good systems like m

raymond james upgrading to strong buy from outperform.$13 to $11. 40% up side. newpark resources. with that we say adios. >> sports betting and investing are about to come together. at least in nevada. nevada's governor signing a bill onto law which makes it legal for out of state residents to have access to the state's licensed sports books through sports betting investment funds. basically, could you put money onto a fund managed by one of the best handicappers in vegas. quinton singleton with cg gtech gtechnology. if i gave money to a fund, am i betting on one person's ability to gamble better than i can? >> good afternoon. yes. what we've done is created the opportunity and make the analogy to mutual funds. you could domicile sports fund here in nevada. you have a fund manager who makes those picks for you like you would find a mutual fund manager taking that opportunity. >> it's hard enough to beat the overall market. if you are a mutual fund manager, but not every stock goes to zero right? you could still do okay and there are divid

joining us a chief investment strategist at raymond james, david, already the fed induced rally seems out of steam today. i don't want to obsess about what the fed is going to do for the next few months. you don't want to do that. we also don't want to obsess about greece. what should we be focusing on? >> i think the most important thing in terms of the fed is to keep your eye on wage growth. it tends to lead inflation. if he's looking for inflation to pick up he should be looking for wage growth to pick up. we've already seen that begin to occur. to me that means there may be a little bit more inflation pressure in the pipeline that's coming out. >> on this jeff considering janet yellen was still typically dovish, still typically non-committal, has anything really fundamentally changed since wednesday for the markets? >> i don't think so. i think that janet yellen is a gradualist. i don't think you're going to get a rate ratchet like we saw in '04 into '06 where they increased the fed funds rate every fomc meeting. they took it from 1% to 5.3%. i think she raises a quarter of a perc

joining us is twitter analyst darren kessler from raymond james and twitter shareholder kathy wood. you are the shareholder here. what are you feeling today? >> we've been averaging down. we are now in terms of the etf space the number two holder in ark-w. we are pleased with this news. we think costolo scaled the many company. they have three platforms to build out. they own realtime. hyperglobal, hyperlocal. nobody else does. they can get creative and do a lot with that. >> was this really a one person story or was this a fundamental issue with twitter's business? >> no. i think they have to make the product easier to use, more use-friendly. they are spending a lot of time doing that right now. i think they'll be creative with that platform, as well as the platform which connects anyone with public figures. ellen degeneres, 44 people following her on twitter as opposed to 16 on facebook. >> in millions? >> yeah. that's how powerful this is. and marketing. if i'm on an airplane and i complain and i put it on twitter, they are all over me. they don't want that to happen. you have ev

aaron kessler, senior vice president of raymond james.s an outperform rating with the price target at $90. this guy is not as enthused with facebook. jon, you're not a bear. you're just not a bull. would you sell it? >> i think zuck has done everything right as far as building the moat around here bigger. i bet we'll hear from that the bull on this case too. however, i think trading at 90 times, give or take net income i think is a little pricey and i think some of the issues that they face are the same that apple's facing right now as far as regulatory issues. apple's of course with itunes and what they might have done with some of the music and the things they sell through itunes and elsewhere. i think regulatory issues about privacy, the rest of the world seems to care a lot more about that than we do brian. and the regulators in europe are dempbtly putting cross hairs on zuckerberg and facebook about that. >> you think the u.s. government could come sniffing around soon? >> well they could. i'm more worried about what the other folks

this is just a day after raymond james upgraded that stock as well. >> dom, thank you very much. >>>ullivan out in california with the first of three big exclusives from the janus capital investment panel. hi, brian. wrr hey, wrr >> reporter: hey, tyler. the dow is soaring, bond yields on the move all sorts of stuff swirling around greece the federal reserve. all day long we'll hammer into this as the janus capital investor and advisor day. carla, let's get right into it. you have got a really interesting -- and i think contrarian view -- on europe. from our side of the table here in the united states we think that europe is in a depression that nobody's spending any money and there's no investable tunes there. tell us why that theory is completely wrong. >> let's start with the consumer. if you look at bookings in hotels, rates are going up. occupancy levels are going up. the f&b is going up in all the hotel industry across especially in the low and mid range. so we're starting to see some signs of growth there. but it is also starting to take off in some of the other areas. even at

an hour into training a number of financial stokes hit new highs sbb financial new high 142 o 2 raymond james 60, 04, also a j.p. mogadishu making it by the way first dow stock to do so in about a month, just the kind of market that you will get by watching this program every morning as you prepare for the day, we get i armed with right information you need laundry list topics this week g-7 meeting, the g-7 summit in germany greece's debt crisis the top talks drag on between greece and krez torz pressure on both sides to reach a detail, the latest, good morning to you. >> thanks, good morning, everybody. we will talking about this greek drama has been one less than a week after failing to pay the outstanding loans greece is a hot topic agenda at g-7 summit we are watching in germany, relations gotten worse in fact speaking at g-7 summit on sunday, european commission president john appall i don't thinker accused greek prime minister tsipras playing politics calling the latest proposal ab as you wered both look to secure at a ordeal before june 30 decline sip russ is refusing to accept latest

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