. >>> british pharma firm metta confirms a possible deal with mylan. a merger could create a $23 billion company. gloo and throughout the day, we're at the workshop on the shores of lake como and there's criticism over the lack of action from d.c. >> unimpressed about the -- with which the ecb is acting. >>> welcome to the show today. plenty to come from the chinese computing firm lenovo, the brazilant development bank, good old richard koe will be joining us about an hour from now. towards the end of the show, luigi zingales from the university of chicago. jules is going to be there. right now, though, we are just over an hour into the trading day in europe. it's all about the countdown to the employment report, as we know. the forecast is going to be 200,000. the numbers could be higher, 230, 240, something like that. ahead of it, european stocks are weighted to the upside. around about 6/3, thereabouts. advancers currently outpacing decliners. u.s. stocks down a little bit. the first fall in five sessions yesterday. not far away from the intraday hi

the swedish drug make meta rejected a take over from mylan. shares of mylan went down 3% to $50.67. >>> corning's first quarter earnings slid. the maker of gorilla glass used in smartphone screens did post earnings but revenue came in shy. the company also said it expects lcd glass prices to decline more moderately. and that sent shares higher by 1% to $20.97. >> shares of gogo tumbled as at&t plans to announce high-speed connectivity. gogo plunged more than 20% after the market closed. >>> some positive news about herbalife. it posted earnings that came in better than expected and its full year guidance exceeded expectations as well. but herbalife said it is suspending its dividend and will use cash instead to buy back stock. shares rose initially after hours, shares were up about 2% to 58.85 in the regular session. >>> and buffalo wild wings posted earnings. the restaurant chain also raised its earnings growth estimates for the year. shares initially popped after the market closed but during the regular session the stock was down more than 2

anyway, meanwhile, mylan has seen quite the surge in the past year. almost 70%, down about 2% today. the overall sector has been weaker, but some say march 20th letter from democratic congressman harry waxman to the ceo of gilliad sciences for pricing a new hepatitis c treatment over $1,000 per pill has something to do with secular pricing pressure in the space. maybe a move to cap drugs in the business or just put pressure on them. >> we get reaction on that. joining us exclusively, back with us today is mylan ceo heather bresch. first, we know drugs are expensive. is there -- are they too expensive? are they going up in price too much? i know who i'm asking here, but is there a need to revisit how drugs are priced right now? >> you know, we have always been a proponent of the open market. the free market system. it's what's built this country. i don't believe price controls are the answers. what i do believe is the answer is making sure the pathway to make affordable medications on to the market. that's where mylan has spent its life fighting for th

mylan made an initial offer earlier this month that was rejected. meda plans to remain a single company. >>> let's move on to america reportedly close to a deal to sell the consumer health care unit for close to $14 billion. the business includes consumer brands such as coppertone suntan lotion and claritin allergy bills. they also own the rights to dr. scholl's and also sell mucinex. buyers of consumer brand include alcaseltzer. a big move in buy shares. a little bit less moving in the other two stocks. >>> pfizer has a renewed approach to astrazeneca about a takeover maker. this is a look at the shares today. a big move in astra's shares, one of the top on the ftse, 14%. pfizer a slight bit higher in germany today. katherine boil is joining us with more on that. there's been a lot of discussion behind the scenes, is the next offer going to be a hostile one? >> well, it looks like pfizer is very much taking that tone with the statement today saying they made a couple of efforts to engage with astrazeneca management and they are not engaging back an

. >> pop for mylan. >> up 2%. >> i would wait to see if it holds this level, use $50 stock. >> anotheroday, apc. >> the stock traded down to 73. buy the stock, they settled, boom, the stock is 102, probably has more room to go from here. >> tough day to be in customers resources. >>> online food delivery service grubhub spiking as it made its trading debut today. >> there are $70 billion in takeout spent in the u.s. what we're trying to do is axel late that offline to online conversion. to pickup and delivery. >> the traders here aren't biting. let's go around the horn, other ipos that would rather buy? >> this is like would you rather? >> i would rather control ctrl. i don't think it's going to be long a perfect takeout candidate. >> going back to brick and mortars, go to travel, hilton, they're growing, global travel is taking off, a good sign of global traveling. hlt there's value here relatively. >> they have done a good job in general of pricing ipos, the list of ipos in 2014 -- i went down the list today and most of them are trading higher than their ipo price. right? at this poi

i wanted to share that, because mylan shares are yup sharply.nd they may reverse. >> swedish tax regime versus u.s. tax regime, it's an arbitrage. it would have created a colossus. >> and it would have been another tax inversion. the idea that you'll get any sort of big tax reform bill or corporate tax changes, but these continue to move quickly and mylan is dealing with so many of its competitors that have already inverted whether it be to ireland or somewhere else. >> really have to watch the story the offshore regime happening right in front of the president and congress. they don't seem to be aware of it. too busy talking about i don't know what. >> got other issues on their plate trying to put some headlines on the back page instead of the front page. >> exactly right. >>> when we come back exxonmobil speaking to headlines is in the news and fracking has a lot to do with it. we'll talk about that. >>> also ahead the first reaction from the white house to this morning's jobs numbers and we'll talk to jason furman the chairman of the presiden

. >> moving on to mylan, trading higher. gainer on the s&p 500 today, getting an upgrade to buy from neutral at citi. >> this land is your land. this land is mylan. don't shake your head at me. target hiked to $61 a share, shares still up despite the news they failed to acquire a swedish drug maker in a stock deal. investors don't seem to care. the average target is -- what's going on around here? everything is falling -- remote controls are being thrown. it's chaos. chaos, mandy. now, to talking numbers and the battle of the bold-faced names. today's name, msg, madison square garden. a j-lo led group outbids a sean diddy combs backed group to own the fuse tv network. did you follow that? let's follow msg stock. jeff tomasullo and rich chiullo. a reason to own msg? the sale of fuse? >> absolutely. they will sell this asset for between $225 million and $250 million. we think that's just enough to get management off their position and they will start returning cash to shareholders. talked about dividends before. we think those

. >> meantime, shares of mylan surged after the pharmaceutical company made a bid for swedish drugmaker meta. the combination would have created a $24 billion generic drug group but meda rejected that offer. shares were higher finishing up 1.5% to -- shares of amgen tumbled after the company's melanoma drug failed to improve survival rates in patients in a late-stage study. treatment is able to shrink tumors as the company previously reported, but its inability to improve survival rates has worried investors. that stock fell 4% as a result to $119.11. >>> our market monitor tonight says the bull market is still alive and pull backs will be short-lived. he's hank smith, chief investment officer at haverford investments. >> hank, why should investors feel good about these pull backs? >> pull backs and corrections are a healthy process of a normal bull market. they're used really -- they're healthy really because they flush out excesses. and that's exactly what is happening today, susie. look at the nasdaq. look at the former high flyers in biotechs and social media. they are getting their

he also founded 10 oakland, which issues the literary awards of josephine mylan. he is the author of over 20 volumes including the acclaimed mumbo-jumbo as well as essays and plays and poetry is and he's also a publisher and producer. and i could go on. and we also have an absent professor sonia sanchez and what is amazing that here is that i have pages of biologybiographies on these writers. but professor sanchez is known for her innovative melding of musical forms like the blues and traditional formats like the haiku she was awarded the national education association award and the national academy of arts award and the national endowment for the arts fellowship choose one of the first to establish a writer script element san francisco state and a brilliant and powerful person and i hope she finds her way to us. certainly last but not least, our professor who is from north carolina. >> i was born in north carolina but raised in ohio, dayton ohio two okay, and i guess i always they where you were born. that before you were born is not necessarily where you are fro

another company we're mylan. a lot of these are taking place in the special markets, where valeant competes. >>> all of those companies you mentioned are being bought today, probably in -- >>> david faber will join us later, lives at the active/passive summit with barry rosenstein. that's coming up in the next half hour of a very busy and big "power lunch." >>> thank you, sue. >>> another massive day for earnings. about 70 points away from a record high at 16,554, the s&p up 11 points at 1883. 43 points higher no the nasdaq. we'll here about best bets from market veterans at usaa and atlantic trust, when "power lunch" returns after this. >>> plus the legal battle between aereo and the nation's most powerful networks has gone to the supreme court, in a case that could change the way you watch tv. that's next on "power lunch." ♪ [ banker ] sydney needed some financial guidance so she could take her dream to the next level. so we talked about her options. her valuable assets were staying. and selling her car wouldn'

investors to focus on the large-cap diverse fitted companies, but one name which you may not consider is mylan. that stock has been dragged down in the pullback of the weak necessary overall. that may be an attractive stock. >> yeah, ceo grumpy herb greenberg did not like the fact they have projected earnings out. that's true, except for life cereal. paul, true or false -- biotechs in general should be able to lead this market up or down? >> they have led the market through the last five years, but you know, the pullback now, people are starting to think that it's a precursor for the broader market, but you know, the analogy we've been comparing biotechs to is the semiconnectors in the mid 1990s. they were the leaders coming out of recession, and they peaked and had a 40% correction on those -- almost five years into tear december just like the biotechs did. and they were both small subsets of a bigger sector. so we think during that period, the joinall market held up considerably well. -- i mean, where the semis practically crashed. we wouldn't read too much into the overall market perspectiv

the only three that ended in the green, staples, symantec and mylan ended in the green. one tech company. that's it. david: chris, will this affect the fed's thinking at all? the fed likes to say they're not affected by what happens in the market. on the other hand some people like jon hilsenrath and others say they do pay attention to the to the market action. what do you think? >> well, we've got to keep in mind the stock market is always excessively volatile. my running comment is kind of like the 13-year-old daughte of the economy. it is the ultimate drama queen. david: i know what you mean. >> next couple days or so, exactly. with that in mind, this could, quickly leave this space and this entire conversation will be nothing but history. they're going to be a wait and see mode. wait to see what happens over next few weeks. see if these losses come back. my guess they probably will. with that in mind they really won't take it into account. liz: kevin, one quick question. you know if there is any fear at start of next week people will jump into treasurys. which end of

. >> mylan labs. >> staying in the medical space. >> a nice day on the tape. >> coming up on mad moneycramer is defining the stocks defying the tape. thanks for watching "fast." we'll see you back here on monday. have a great weekend. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today...and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen. if i told you that a free ten-second test could mean less waiting for things like security backups and file downloads you'd take that test, right? what are you waiting for? you could literally be done with the test by now. now you could have done it twice. this is awkward. go to comcastbusiness.com/ checkyourspeed. if we can't offer faster speeds or save you money we'll give you $150. comcast business built for business. >>> this is options action. tonight -- ♪ >> that's what traders were

mylan did confirm it has had contact with meda but wouldn't reelaborate.ces of news on that company. that stock up about 10% in the premarket. >> on this jobs friday we continue our series where the jobs are looking at how manufacturers are filling the skilled labor gap. today we go to houston where the maker and servicer of drilling equipment national oil well varco is investing tens of millions of dollars to train the workers that it needs. mary thompson joins us now with more. i think you can almost feel it in texas, can't you? you feel a lower unemployment rate, don't you, mary? >> yes, yes, without a doubt. they have a lower unemployment rate. i am sitting in what's called a driller's chair. this is part of a simulator at national oil well varco or the technical college here in houston. here they get hands-on experience. why do they need to know how to operate that? they will repair, install and maintain the multimillion dollar drilling systems that nov produces. what i'm going to be doing is releasing the brake on what's known as a top drive. it's th

look at mylan, moving lower. you're talking about losses from a 1.5% to 3% for the big names.e board. carl, back over to you. >> all right, dom, thanks a lot. >>> declining smartphone prices taking a bite out of samsung profits for the second-straight quarter. the company says it expects operating income for the quarter of about $8 billion, down 4% from a year earlier. this as the world's largest smartphone maker debuts its newest edition, the galaxy s5, but will it be a game changer in the smartphone market? who better to ask than walt mossberg, and he joins us from d.c. walt, good morning. >> good morning. and the answer is, no. it will not be a game changer. >> it sure sounds that way. i would argue at large the reviews have been mixed. walk us through your view. >> well, look, it's an evolutionary modification of the galaxy s4. in my column, i said, if you have a galaxy s4, iphone 5, there's not enough in here to make you want to upgrade to this. you know, the camera's a little better. the screen's a tiny bit bigger. and a little bit better. that kind of stuff. it's a $660