Broadcasting live to New York, Bloomberg eleventh to Washington, d C, Bloomber to Boston, Bluemberg twelve under to San Francisco, Bloomberg to the country sum General one nine and around the globe the Bluemberg Radio plus Dappen Bloomberg dot Com. This is taking Stock, coming up on taking stock bio based products, new solutions for pest control along with increased plant health and increased crop yields, all using a patent portfolio. We've
got details. Oh and I love these new pesticides pin because they're not harmful to bees, and bees are so important. If they disappear, look out planet Earth. Well, let's get to the news room now. Charlie Pellett is back with a Boomberg business lash and I thank you, Kathleen, thank you, Pim. We've got stocks buzzing high right now, with the SMP up ten to five, a gain there of five tenths of one percent, and has a stack up twenty five to fifty two twenty nine, a gain of five tenths
of one percent down. Industrials up one hundred and sixteen points to eighteen thousand, six hundred eleven, a gain there of six tenths of one percent. Stocks trading in record territory after a batch of surprising earnings. Macy's, for example, surging seventeen point five percent after it beat estimates. Retailers leading gains in US stocks, Energy companies rallying along with the price of crude. West Texas Intermediate crude up three point nine percent, up a dollar sixty one a barrel
to forty three dollars and thirty two cents. What about the interest rate environment? Kate Warren is investment strategists at Edward Jones, and she spoke this morning with Tom Keane on Bloomberg surveillance. I think inslation is beginning to pick up, and we actually will see long term rates start to rise as bond markets reflective slightly higher inflation rates. But I think the Fed is very much waiting for better
economic growth and numbers. We've got the tenure down twenty on thirty seconds, the yield there one point five six percent. Records in US stocks getting harder for strategists to ignore. Wells Fargo become becoming just the second of twenty one firms tracked by Bloomberg to raise its target for the SMP five hundred index, since the measure surged past the
group's average year end prediction a month ago. Gina Martin Adams, the bank's chief US equity strategist, now expects the benchmark for US stocks to climb to twenty two hundred in twelve months. Again. The SMP five hundred index now at five, up today by five tenths of one percent. Gold down eight dollars. The ounce the thirteen thirty nine, the drop of six tenths of one percent three thirty two on Wall Street. Now the other stories making news. Thank you
Charlie from the Bloomberg Newsroom. I'm a Lisa PARENTI. This news update is brought to you by Blue Jeans Enterprise Video Cloud. See faces, emotions, Energy, see the people your team's video from any device. Start a free thirty day trial at blue jeans dot com and click the radio Mike, Blue Jeans, Work Smarter, Connect Better. Democratic presidential candidate Hillary Clinton unveiled her economic plan in Michigan today. Clinton took
the chance to attack her Republican rival. I know my opponent in this election was here in Michigan about a week ago, and it was like he was in a different place when he visited Detroit on Monday. He talked only a failure poverty and crime. He is missing so much about what makes Michigan great. Meanwhile, Donald Trump is pledging to limit what he called horrible regulations facing the home builder industry. Today in Miami, he talked about the
difficulty for prospective buyers to get mortgages. He also called for a major simplification of the tax code. Swedish prosecutors will get to question Wiki Leaks founder Julian Assange about rape allegations. They'll meet at Ecuador's embassy in London, where Sange has been holed up since he to go to Sweden fearing extradition to the US. And New York is awarding more than eight million dollars in legal help for
people who have been denied federal disability benefits. State officials say the federal appeals process can be difficult, but seventy three of those who receive legal help in New York recently were awarded federal disability benefits. Global News twenty four hours a day, powered by more than twenty d journalists
and analysts and more than one hundred twenty countries. I'm a Lisa PARENTI This is Bloomberg, Charlie, and we thank you, and we're brought to you by Sector Spider e t f S. Why buy a single stock when you can invest in the entire sector of visits sector sp d rs dot com or call sector e t F again recapping stocks trading at a record SMP up eleven six, a gain of five tenths of one percent. I'm Charlie Pellet. That's a Bloomberg business flash. He's taking stuff with Kathleen
Hayes and Pim Fox One Word Radio. Are you one of many, not only Americans, but people around the world who are concerned about pesticides, about chemicals on the food that is grown to take to their table for dinner. Well, if you are concerned about that, and if you're an investor as well, you might want to be uh very focused on our next guest enter biopesticides and Dr Pam Maron.
She's founder and CEO of Marone Bio Innovation. She's joining us today from Davis, California, which is about twenty minutes from Sacramento, very important agricultural area of this country. Dr Maron, welcome, Thank you. So first of all, tell us what our biopesticides. So these are naturally occurring products. They're derived from natural substances, could be naturally occurring bacteria or mold or extracts of plants,
and they non toxic, low risk. What are they made of, I mean, so they could be um an actual plant that you extract from. So you could dry take a like we have a product that actually is from not weed, and you dry the not weed, You harvest the notweed wild, you dry it and then you put it in a big vat of alcohol and um hot alcohol, and then and then for thirty minutes you come out and extract um like like you're making a tincture, you know, for
your own self from lavender or something like that. But then these pesticiddle compounds, natural products that come out of that extract you can spray on the crop and ward off potty milk jewics and increase your growth and yields of crops. Can we just put aside the technology and the science for just a second. I want to ask
a little bit about the financials of the company. Why go public at this stage, because I mean, looking at the stock, it's down about six percent year to day, and it's got a market cap of about twenty million. Why go public at such a point, wouldn't it. I always thought the company would go public after they were UH law archer and more profitable and and and had
a wider distribution network. So when we went public in twenty thirteen, things looked great for the company and UM, you know, all systems go and we thought we could, um, UH will be the pure We're only a pure play. We're the only pure play biopas side coming on the market, and it would give us greater access to capital and grow faster and H Then there were a series of events that UH caused a restatement of the of the of our financials and I don't really want to get
into that, and UH drove the stock down. UM, so it took a little rebuilding of the company, and which is where we are today. And we're building momentum upon some negative past events and we're back. So who who are your competitors in this field? Well, we have some
very large companies. They would be like there and B s F and du Pont and they're also developing biopaths decide they're selling chemicals, but they have some of them have made acquisitions Biopest side companies because of the growth in this segment and that you can't meet all of customer needs with chemicals. For example, um global movement of food that foods gets moved around globally and consumers don't
like chemical pest side residues on their food. So our products can be used right up to harvest and you don't have to worry about chemical residues because they don't leave chemical residues. So so that provides an opportunity where a chemical can't. As far as the business of these kinds of bio of products, does it really depend on having the right patent library. All of the products in this industry are generally patented, so there's this extreme amount
of intellectual property and patents behind our products. So we actually do patent the substance, the natural occurring substance that we find, so someone can't then just take it and duplicate it. Yeah, so where do you go next? Do you do you continue to expand what you have? Uh? Do you develop new products? Is it marketing? It seems to me like as I said, there's a growing demand for this kind of product right there is hugely growing and I think to me, it's kind of hyperbolic so
what do how do you capture that? Well, it is come it does come down with our products. So we focus on what are unmet needs in the marketplace, So what do the growers want, and that would be um new solutions for something like nematodes. Nematodes are round worms that feed on the roots of plants. So we are discovery operations swung into action and we discovered a bacteria, a new species that produces substances that kill these roundworms.
So you can apply it in the soil and it gives a healthier plant and kills the nematodes and much better yield of more fruit and more vegetables. So it
comes through innovation. So that's our company by having multiple products and kill insects, kill nematodes, kill plant diseases, and we are working on a weed killer, which is really important for both organic and um traditional farming because for organic, one of the reasons the cost of organic is so high is because the cost of weed control it's really hard with organic. And then on the traditional side, weeds have developed resistance to the chemical herbicides and we're going
to try to solve that solution as well. Thank you very much for coming in and giving us this insight into a new and uh we help burgeoning market. Dr Pam Maron is the founder and the chief executive of Marone Bio Innovations. They are based in Davis, California. This is taking Stock. I'm Pim Fox. My co host Kathleen Hayes coming up. We'll be speaking about your money. We've got Oliver Chen he is the senior retail analyst at Cowen and Company. We're gonna give you some detail about retail. Macy's.
The shares higher today by more than fifteen percent after announcing that they will close about one hundred stores. This is Bloomberg m H. Bloomberg. Taking Stock is brought to you by your Mercedes Benz Tri State deal of the Mercedes has been certified pre owned sales event this months. Take advantage of limited time offers on the vehicle of your dreams sorted more at nbus dot com slash Sea