mr. icahnhe has no idea how you can be doing the deal. it's ridiculous. what do you say? >> we've been consistent the combination presents an outstanding affordability. everybody from the president through corporations through individuals approve the affordability. cigna and express individually are functioning very well delivering very low medical costs. and the combined company will further improve affordability. cigna steps farther with a goal to deliver medical costs at a cpi level by 2021 and we're delivering the lowest medical cost in the industry it's about creating value for customers and clients. and as a result, delivering value back for our shareholders and we're committed to this really attractive strategic and financial combination. >> yeah. mr. icahn was talking about a number of things that are fairly complex in terms of rebates and policy but the timing is good here because i want you to go try to explain, at least, to our viewers and shareholders last night i guess there was ch

mr. icahn's point.rish: he also made a point in the letter, that the industry itself is changing so vastly and so quickly and there is the potential for so much disruption, which he thinks will rightly so, and this is what we like about capitalism benefit the american consumer ultimately. >> that is what matters. trish. that is why i'm wearing red, white and blue on my shirt. we believe what is right for all of us, regular guys out there -- >> let me give you another example. announcement for cvs, cvs pharmacy, is now going to start offering you, me, everyone, the ability to actually communicate with a doctor that is provided by a company called teledoc. the ticker is tdoc. if, for example, you have a rash, if you have a dog bite, something that doesn't necessarily merit going to the emergency room but you need a doctor to look at it, you get on your phone, hit the app, all of sudden you're communicating with the doctor. let me see the rash. you put the rash on your face here. oh, i can see that or he o

mr. icahn's view does not represent those ofgn s other shareholders. oombs has been following lee drama for us. >>> carl icahn c cigna's megade megadeal a $60 billion folly. the activist investor when has taken a stake in cigna is urging others to vote against the deale arguing that insurers paying a 50% premium for express scripts at a time when the pharmacy management business model is under siege from regulators to the secretary o health and others who have been critic of confidential rebate agreements which allow the pbms to secure discounts from drugmakers. icuen also a that amazon's entrance into the pharmacy business recently acquiring pill pa will also dermine the deal. in his letter icahn warns purchasing express scripts will be one of the worst blunders in corporate history, up there with the time warner-aol fiasco and general ectric valued destruction. icahn believed cigna would be better off building its own pharmacy unit and returning cash to customers. does she argue said it would be better for cigna to build a pharmacy with enough scale a

mr. icahn should. really know about the man going to talk. just moments in the life of a great. start september. w. at the southernmost tip of the arabian peninsula away from the eyes of the outside world yemen is counting its dead more than ten thousand. of those displaced run into millions as a cholera famine and for many exile yemen is a war. not many foreigners set foot in this part of the arabia the president of the international committee of the red cross has come to visit this exhausted and divided country. he's one of the few people authorized to observe a conflict which has been reduced to wretched internal hostilities. his trip is a difficult one to say the least he'll be starting in the south in aden and finishing three hundred fifty kilometers further north in. the two cities that have been the country's capitals for years. between the two in the heart of the highlands he'll be. visiting us on the from line. she took me since my first visit to yemen two years ago i have been of the opinion that the international community has significantly underestimated the degree o

mr. icahn may believe he will have some support.en telling me, listen, first there is significant overlap in holdings of cigna and express scripts so if you are making an argument, cigna should be paying less for express, well, it's one pocket to the other. secondly, jim, they say, listen, they're paying less than express paid for medco on a multiple basis. when you read the s4 in the background of the merger, express was citing $1.5 billion in synergies when it was already going for a high price express put out notes last night, was well received cigna's retention rate to 98% on the strength of both commercial and health plans their customers paid 1.1% more for drugs this year than last year that's half the rate of inflation. so there are plenty of people who say, i don't quite get why you would be opposed to this deal, you'll save plans on their medical bills, a high retention rate, they are being successful in what they are looking to do, a faster growing company with a better business mix and they've put up the numbers over time

uh-huh. >> they have board members, david. >> yes, they do. >> they have board members. >> they do mr. icahnth. >> that's more than zillow has. >> maybe carl should be more focussed on this. >> we hit a new 52-week high at least on disney. cracked 117. we have earnings tonight the discussion, as we said yesterday, about espn plus but what they're calling disneyflix it would be competitive to netflix. and the added wrinkle of katzenberger's new tv. disney has a piece of that. >> alibaba is an investor, as well. >> disney keeps moving up into the print. >> i know. >> i think there's a feeling it's their time. what i find interesting is amazing is that i believe the discussions is going to start around the theme parks and movies believe it or not, that's been completely ignored once things start going, we'll talk about these franchises again. we won't think about solo. we'll think about solo as being a saw. >> star wars land in orlando at disney world is not that far from going live. >> it's going to be. >> good luck getting in. >> yeah. >> when is that going live >> mid '19. >> wow. >> nobody

i think mr. icahn is on to something. i think the real play is i've been wrong for a while and cigna is too cheap on valuation. the stock got crushed earlier this year and if you got etna close to 18 times and you have to love cigna. in terms of a value play, i think it's cigna all the way >> okay. >> that's it you don't want to ask, pete, karen or steve >> i was wait for example someone to offer something up and there were crickets. >> crickets. >> molina, humana and a giant in the space and u.s. cigna probably would trade up. >> right reports icahn could shake up the cigna express merger sent the options market into a frenzy mike ko out in san francisco with more. >> we did see four times the average daily put volume in express scripts. some of it was interesting because we did see a buy of over 4,000 of the weekly 79 puts and that was before this news came out. those are obviously profitable already and we saw about a thousand august 70 puts which, obviously s an indication that the stock is going to be going lower aft

vote on this the is scheduled but we know what mr. icahn is planning to do. their reaction has been considerably more muted. the process of nowng it and that deal is said to be anticompetitive and the justice is urged to block the merger. antitrust action. we will see what happens with that particular case. this is bloomberg. ♪ this is bloomberg. ♪ >> joining us from oppenheimer, good to see you. give me your impressions on the earnings season so far. we also have big outside reactions to the upside. what does that tell you about sensitive around these countries and where people are trading them? in earnings -- on many names, a lot of crowded long stocks, a little too anplacent, so we are seeing inverse reaction where fundamentals might not have changed. obviously, facebook got started, we got that name specifically had of itself. earnings look ok. names are getting sold and there are a lot of questions about what is going on. it is a case of positioning all sides here. exposures in general with risk back in play. extremely subdued. that is what volatility is

shareholders for the merger it demonstrates an uninformed view of the marketplace and cigna's strategy mr. icahn appears to believe that a multi-year partnership with an existing pbm provider would be preferable to the announced transaction. there are a number of issues with this view the stocks, cigna and express scripts unchanged after hours. michelle >> all right thanks for that update, seema. >> coming up, we'll get the after-hours earnings movers including why match is shoring, have you seen it going by? big mover. don't move with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show you the lowest prices... so you can get the best deal on the right hotel for you. dates, deals, done! tripadvisor. visit tripadvisor.com >>> we've got more news. becky quick is on the phone. becky? >> hey, michelle hi, wolf if you wonder what the tesla people are saying about this or most say they continue to believe in this and one of

icahn took the opposite stance. in a 14-page letter. glenn view wrote that while we have great respect for mr.hn we believe that analysts feeding him information to lead the fight against the deal may be argument him with informations that's less than correct he lays out a case why the merger will save the investors billions annually and why the long-term growth prospect are stronger with the steel. glenn view says it has a $1.3 billion investment in cigna appear express scripps split evenly between the two glenn view letter says goes on to say that we believe it supports a transaction of in magnitude and we hope the vast majority of the shareholders will reach the same conclusion glenn view says voting down the deal would be backward looking and brings risk. back to you. >> leslie thank you. >>> well full speed ahead for the railroad stocks. csx up over 32%. norfolk southern up 20% year to date en and both all-time highs will the strong economy drive the railroads to new heights or could economic factors did he rail the rally. >> let's bring in scott, our onlts. >> thanks forring having me. >

icahn will be with trish regan. yesterday he opposed cigna's plan to buy express scripts for $54 billion. now what? he is on the show with trish, 2:00 p.m. this afternoon, the billionaire, mro's special election too close to call but that is in a district that was all-in for trump in 2016. maybe that shows the republicans have an uphill battle to keep control of the house in november. we're going to ask ohio congressman jim renacci about that after this. ♪ fact is, there are over ninety-six hundred roads named 'park' in the u.s. it's america's most popular street name. but no matter what park you live on, one of 10,000 local allstate agents knows yours. now that you know the truth, are you in good hands? you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. ♪ stuart: oh, yes. this is "twist and shout." whether you played it in your living room, you didn't want your parents to hear because this -- ashley: getting out of control. junk stuart varney. stuart: no, no. john lennon was getting hoarse singing this he