>> this is not about the commercial business between aetna and humana. we have no overlaps in the markets. it is very important that medicare prices get set by the government in relationship to medicare fee for service and one of the things i thank mr. baer for something that the doj did not consider in their analysis of overlap markets. >> i was going to say in a business where consumers are already somewhat skeptical of the costs of their premiums, how do you convince them that three companies are actually better than five? >> well that's a very populist and political discussion. five companies don't have any more than 11% market share across the country. the real competition is at the market level by not-for-profit blue cross blue shield health care plans all health care is purchased locally so you have to look at the locate -- at it locally. >> the doj antitrust said we don't think anything on the table is close to fixing it regarding what kind of divestitures you might be willing to make. i wondered what your reaction to it is and what kind of die v

but aetna will do whatever it can do get humana. gets blocked and aetna sues, wow. looking at next year a kind of approval and that's a long time to wait. i would be more inclined to hold on to united. i would buy some cigna, i do think the mid-120 stock is attractive on a valuation basis, on a stand-alone basis. >> a look. up 1.25%. >>> next up, an analyst saying the next driver for apple will come from a very unlikely source. we'll reveal it. we'll speak to the analyst. we're back in two. my name is valerie decker and i'm a troubleman for pg&e. i am a first responder to emergencies 24 hours a day, everyday of the year. my children and my family are on my mind when i'm working all the time. my neighbors are here, my friends and family live here, so it's important for me to respond as quickly as possible and get the power back on. it's an amazing feeling turning those lights back on. be informed about outages in your area. sign up for outage alerts at pge.com/outagealerts. together, we're building a better california. >>> welcome back to the "halftime report." by no

you're moving to block both the aetna and humana acquisition and aetna sigma acquisition. going to try these both together? >> no. we actually filed two separate lawsuits this morning, challe e challenging these transactions separately. they involve different products, different markets. while we are filing both cases in the district court here in d.c. we will be preparing to go to trial and s-- separately the two cases. >> you are talking about the big five become the big three and the issue you continually bring up is the issue of innovation. why do you think that letting these companies come been in their innovative strategies would actually reduce innovation. >> right now, we only have five national providers of health insurance. these five are proposing to consolidate down to three. these five are the source of much of the innovation that goes on in the marketplace today, providing different kinds of wellness programs to consumers, to seniors, to the underinsured, previously uninsured. there is quality competition going on. innovation going on. you reduce the number o

aetna announced its intention to buy humana about a year ago. humana shares fell 9.5% on the trade today. aetna also lower by almost 4%. >>> and another health insurance deal is being questioned. the connecticut attorney general is raising concerns about the proposed anthem/cigna take over. george jepson says if the acquisition wins federal approval it could hurt competition in the industry and lead to higher prices for consumers. cigna is based in connecticut, and according to "the hartford current" jepson's office is about two weeks away from wrapping up a review of the tie-up. >>> on capitol hill the director of the fbi was at the center of a heated hearing today. james comey staunchly defended his decision to not recommend criminal charges against hillary clinton for her use of a private e-mail server while she was secretary of state, but that did not satisfy some lawmakers. hampton pearson watched it all. >> nothing but the truth. >> reporter: it was a marathon on capitol hill for fbi director james comey. defending the decision not to brin

if both deals were to go through, the top five health insurers would be reduced the proposed aetna and humana is examining the d future of driving. the autonomous vehicle summit is bringing together leaders from the automotive industry to bill lebeau is in san fran >> reporter: with 14 companies including several automakers there'sng and t no doubt that the day of the self-driving car is approaching. in fact, the secretary of the vehicles and to develop the guidelines that will allow them to be integrated into traffic safely. but that brings up the question -- is the public ready the technology is there. people need to learn how to use it correctly. >> i think it's a new form of distraction. peoptet in many cases they're goin. so we have to as industry, also as government, and as consumers, we have to listen and read the directions, no got far away from where the directions are and doing crazy things to put your life at stake and other people's not at s comment on the u.s. investigation into the auto system by tesla. elon musk said they're working with the suppliers to improve the auto

then we got this news about humana and it's updated forecast great as for aetna shares, we have beenatching them as well. they also have been heading higher. in a statement this morning saying it's not certain it's deal is going to go through, whereas it seems humana and aetna are prepared for their deal to go thruogh. -- through. in this case it's not certain it is going to go through. both of those stocks are trading higher as well. aside from these health care headlines, what's going on with the major averages? not much. are littlef them changed because we have other corporate news on the earnings front. a lot earnings from general motors, qualcomm, ebay, intel. on a day like this it's more micro than macro driven. you.ank another company we are following this morning, union pacific, the largest publicly traded railroad reported second-quarter earnings that beat analysts estimates. peaked just as oil and natural gas prices started taking a tumble. the rebound in some commodity prices helping to make up for a drop. joining us now is the ceo of union pacific railroad. more than 1/2

aetna's plan to purchase humana for $125 a share and 0.8375 of its shares.iled the lawsuits against that deal to block it and also has filed to block anthem's plan to buy cigna announced back in july of last year, july 24th of last year, called for $103.40 a share in cash and 0.512. you will see if you do the math, that neither one of the acquired companies is trading anywhere near the potential takeout price because, of course, the expectation has been for some time that the doj was likely to block anthem and cigna and probably likely to block humana and aetna. it has done so. now the question is, will both companies, will they all go to court and try to fight and see if they can actually get a court to agree with them these deals should go ahead? i would point out as well that cigna has come out with some comments, interestingly, not a joint release with its partner anthem, but a separate release, doesn't read particularly well for its hopes in light of the doj's decision we don't believe the transaction will close in 2016 and the earliest it could close i

regulators will seek to block at not pass merger with aetna's merger with humana. loretta lynch will give a , which we at 11:00 will be monitoring. stocks are little changed. at not is up to tenths of 1% -- aetna is up to tenths of 1%. to the ecbs get back decision. mario draghi says the central bank is ready, willing, and able to act in the aftermath of the brexit vote. draghi shared this assessment earlier and frank ferd. thatr assessment is financial markets have weathered the spike in uncertainty and volatility with encouraging resilience. readiness of central banks to provide liquidity if needed and our monetary policy measures as well as a robust supervisory framework have all helped to keep market drive contained. nejra: for more let bring in dean turner. in your words, it was rather a dell meeting. what would have happened and what signal would it send to markets if mario draghi had announced changes today? dean: if mr. druggie ha -- mr. druggie had announced something more meaningful -- already being felt throughout the . clearly that is not the case yet.

and now aetna has a decision to make about their pursuit of humana. anthem has a decision to make about cigna. that's the reality. whether they want to contest this or not. i suspect we'll know in the relatively near future. i think aetna wants to contest it, i'm not sure where the fighting spirit is on the rest of it. >> governor, thank you for coming by. governor malloy will be speaking tomorrow at the convention. after hillary clinton announced tim kaine as her running mate late to friday night, they made their public debut yesterday in miami. two democrats lobbing compliments at each other and assailing donald trump. >> we've seen again and again that when donald trump says he has your back, you better watch out. from atlantic city, to his so-called university, he leaves a trail of broken promises and wrecked lives wherever he goes. we can't afford to let him do the same thing to our country, and folks, we don't have to, because hillary clinton is the direct opposite of donald trump. >> joining me now, jeremy bird, senior adviser to hillary clinto

aetna taking over humana. so there are reports that the justice department wants to meet with both companies to discuss significant concerns. reports earlier had said that aetna would be looking to sell several billion of dollars of assets, but we're seeing a clear reaction to these reports in today's session. >>> fbi director james comey getting grilled on capitol hill about the fbi's investigation into hillary clinton's use of personal e-mail during her time as secretary of state. representative carolyn malloney, a democrat from new york was there, and she joins us now. welcome to "power lunch." >> well, i'm pleased to be with you, michelle, and thank you for having me on. >> you heard james comey today. i presume you heard his news conference the other day. do you have any concerns that it's possible that the next president of the united states would be described by the fbi director as somebody who was extremely careless when it came to the handling of classified information? >> well, the main point is that

aetna said it would sell billions in assets ahead that have deal. grasso, i'm curious.here do you stand on this trade? >> well, whenever you have the issue of the unknown, it's a scary thing so we always worry about political headwinds and this is really ripe for the space that they would pick, the sector and names that they would pick so i don't have any edge here and i don't think anyone as an investor has an edge and you see what happened today. you have no way of protecting your portfolio unless you're doing with options. >> to a news alert on biotech stocks. plunging in the after hours session. she joins us with the very latest. what a dramatic decline. >> it's a surprise, a horrible surprise to everyone so this is a new class of immunotherapy so essentially we're taking sells out of bodies and beefing them up to better fight cancer and readministering them and essentially after two patients deaths last week juno has been put on a clinical trial hold by the fda, in the mid-stages of study. hoped potentially to even get approval next year and just said on the confer

scarlet: aetna is ready to go to court if necessary to proceed with a takeover of umana.na has presented several divestitures plans to attract the antitrust concerns in the market for health plans according to the person we spoke with. the u.s. has said to be preparing to sue to block this deal. up 15% yearhad been today and the stock had come down on concern this deal would not go through. coming up 1% but you see a bigger jump i guess about 1%. they have come up about the day and have come back down. has been looking into this stock. like this may be an beginning or mid point of ongoing negotiation between these companies and the u.s. government. the other pair we are watching is anthem to

aetna says it is ready to go to court to defend its planned takeover of rival humana. u.s.tors are concerned it threatens competition and are considering a lawsuit to block the takeover. a person familiar with the matter says aetna is prepared to argue there are several ways to argue there are enough plans available in the market to ensure the elderly. shareholders have removed another roadblock for the historic merger between two of the biggest u.s. chemical makers. members of the board of dow chemical and dupont said in a joint statement they voted in favor of the 50/50 split that clears the way for a deal to close this year and for a later split into three entities. a singapore state investment firm is offering $865 million as the nations biggest subway operator undergoes a reform after multiple service disruptions in recent years. according to a filing, the offer of values it at about $1.9 billion. the european commission will push before the end of the year to recognize china as a market economy in trade cases. the eu executive arm is also pledging new action that woul

>> so we're 80% to 90% confident that the aetna deal is going to go through.pread really broadened, it's now mid 30s on the arb spread. we believe there's a doj meeting today so we could see some update possibly talks of next steps or what a divestiture profile might look like. so we've seen opportunity for stocks to move on that. we're still highly confident that goes through. with anthem cigna we think that's much more complicated. our confidence level in it being approved is still 60%, but we would say over the last few weeks confidence decreased to less than 50%. if both deals fall through we believe a round two. who would buy who, someone like aetna, humana or cigna looking to move more into medicaid, someone like sentine, well care but we think there could be a breather of a year or two. we also think well care part of the bull thesis has been propped up from people believing they're going to buy some of the divestitures of aetna, we think we could see pressure on wellcare as well that day. >> if those deals don't go through, very quickly, sarah, what wi

specifically, aetna's acquisition of u man in a and anthem -- humana and anthem as acquisition of cigna. >> if allowed to proceed these mergers would reshape the health insurance industry. they would leave the industry in the hands of just three huge insurance companies. >> she added if the big five insurance companies were to become the big three, not only the bank accounts of the american people would suffer, but also the american people themselves. >>> walmart is pushing its suppliers to remove several dangerous chemicals from their products there. the retailer listed 8 chemicals it wants restricted or removed. many on that list are known carcinogens. walmart supplier procter & gamble said its items already meet regulatory and scientific limits for those chemicals. walmart's move is in response to consumer's demands as buyers become more aware of what's in the products that they buy. >>> live look at the big board right now after 7 straight days of record closes, the dow is retreating. it's down 121 points. >>> las vegas isn't exactly known for being green but it turns out many hotel

the doj filed paperwork toerwork stop mergers between anthemetwem and cigna as well as humana and aetnaong concernson shrinking the insurance market e would harm consumers andrm c prices would skyrocket.rock if both mergers went throughrg t the national market wouldket wo consist of just three firms anthem aetna and united health. >> federal employees andmp retirees he who participate inpi the federal long term careerm ce insurance program will need toat get their budgets in orderrder soon. >> they currently pay the fullya cost of that insurance and onn november 1st that price will jump by 126 percent to an to average of $111 per monthth which is leaving many livid.. >> well, if you've goteot unlimited data and you use more than 100 gigs a month, they're going to dump you.u. verizon says you have untilil august 31st to switch to awitcha limited data package.d data after that, you'll be disconnected.onne verizon stopped offeringpp unlimited data back in 2011 in 0 but some people are still sll hanging on to those old plans. s >> why not? >> yeah. >> what's up with verizon justhv taking aw

obama administration filed lawsuit challenging two mega mergers, one between cigna, the other between aetna. the obama administration said it would cut competition and drive up healthcare costs. brooke, jim? >> jill, brooke and i both love our breakfast food. and we hear that dunkin donut want to improve it breakfast sandwiches. we have one right in our building. so what can we expect? >> all right, so dunkin wants to create a better tasting egg. right now, dunkin uses eggs that have a lot of other ingredient like corn starch, artificial butter, instead, dunkin test ago pat that i has hire concentration of eggs with less of the other ingredient. so, how exciting, eggs with more eggs. >> an egg that's actually an egg, what an invent i have idea. >> yes, thanks a lot, jill. >> well, coming up after the break, we'll get another check with weather and traffic. >> plus, a lot of barking help save a pennsylvania man. >> the dog ran up to the bank, stopped 20, 30 feet, looked back, and backed. >> we'll introduce you to this dog who rescuers credit with saving its owner life after an accident in th

we now have companies, like aetna, the third largest health insurance company, who are -- the ceo announced a program just now that employees can prove through wearing a wearable device they have gotten seven hours sleep the night before. they get $25 reward for each seven-hour sleep. that is really a game-changer in the culture because we go from wearing sleep deprivation like a badge of honor, to valuing sleep as something that makes us more productive and helps the company reduce healthcare costs. >> host: air ran na huffing -- ariana huffington is our guest. the first call from marjorie in west virginia. marjorie, you're on booktv. we are listening. >> thank you. thank you, arianna for bringing this topic to light. i'm one of those sleep deprived people. but my question has to do with politics. particularly interested in the sanders campaign and how his advisers are complaining about hillary's negative attacks on him, and i'm wondering if he -- it appears to me that cnn and msnbc don't bring out things that hillary really could have got him on, such as his imp sympathies for the castros

antitrust officials are poised to file suit to block the acquisition of cigna by anthem and humana by aetna. this concerns about what it will mean for consumers. they will make a decision about whether to actually filed this suit or know by the end of the month. all these stocks down on concerns b those deals might not go through. calling the offer financially inadequate. shares have been bouncing around quite a bit today. . those to continue their back-and-forth. -- those two continue their back-and-forth. shery: mark crumpton has more from the newsroom. mark: two people have been injured following the collapse of a construction crane off the new tappan zee bridge north of new york city. shutting down all lanes until further notice. the new bridge has been under construction for three years and is suspected to be completed by 2018. donald trump has someone in my for treasury secretary if he is elected president. fortune reports the likely republican nominee is telling donors he plans to nominate -- the former goldman sachs ceo. a new name suddenly in the mixes of possible running mate for

aetna and humana combined, the concerned, medicare advantage, private medicare policies.nt sets of concerns, what is the next step, what will you be looking for? scarlet: these lawsuits, if not settled soon would be filed this week or next week possibly. once they are filed, they were be litigation -- they would be litigated and possibly the companies could be settled but if they are not, it will go to a judge who will decide whether they can proceed. scarlet: at what point would this be made public, so far this is all according to people familiar with the situation? scarlet: it should be finished by next week -- >> it should be finished by next week. scarlet: what considerations are there with the political timetable with the election coming up, does that factor in to what the department of justice is doing? >> the department of justice would say no, they are nonpartisan in reviewing these deals. consider thist to is taking place in an industry that is very important to this administration with the affordable care act and the president and health and human services secre

the aetna humana deal would affect the medicare advantage market in particular.reda, that and sold to employers as well as other regional markets. >> this could tie things up in the court for months or years? >> essene companies come out and say, humana and cigna, said this is looking at 2017. cigna is questioning whether the deal can get done at all. ♪ ♪ >> you are watching "bloomberg best". earnings season is in full swing. companies rolling out quarterly results. tech firms catching the lion's share of investor attention. plunging 15% on disappointing earnings. so cyber growth dropped. it is due to price increases, not market saturation. is that the reason? >> we know that they lowered the cost of marketing, at the same time they raised prices last quarter. we can see the u.s. subscriber growth fell to 0.3% sequentially. my model goes to 2012. that is the lowest ever reported . they are spending so much, being forced to raise prices because content costs are getting out of control. their $12 billion in off content cost, that is raising prices, and that is caus

anthem's takeover of cigna and aetna's takeover of umana.ney general says it would raise health care costs and reduce choices for consumers. that company raising earnings forecast. all companies say they are going to fight his lawsuits but should mention sigma set -- cigna saying these -- umana saying they do not know when the deal will close. we have a couple of cross-border deals with, to buying joy global. 19% gain and the other being bought by swiss company for $1.5 billion. all out of order, there's so much going on all the sudden. scarlet: thank you for that wrap up of all the m&a and movers. let check in on the bloomberg first word news with mark crumpton from the newsroom. mark: the paris terror prosecutor says the man behind the wheel of the truck that killed 84 people last week had accomplices. he said the man had been planning the attack for months. five suspects are facing preliminary terrorism charges for their alleged roles. data from the phone show searches and photos that indicated he had an studying an attack and 2015. ivank

aetna may have several potential buyers for medicare advantage insurance programs. is reporting well care health and centene. trying to win regulator approval for $34 billion deal to buy humana, take a look at the futures once more ahead of the monday open. you could see right now s&p futures indicated to open up by about 6. that would put the dow above it's all-time closing high of 2130. it closed within a point of that on friday. could set a record high for s&p 500, 49ers time since may of last year if these levels hold. s&p as we mentioned less than a point away from all-time closing high, less than 5 points from intraday high. >>> the latest aircraft orders and the most efficient engine technology both hot topics at the air show. phil lebeau joins us with united technology. >> thank you very much. let me bring in greg hayes at the air show. we were talking before we went on. brexit a big part of the conversation, prime minister cameron was here earlier today. what kind of impact do you think brexit will have not only in your business or aviation industry here. >

aetna is preparing to meet with department of justice officials as it hopes to win approval for a takeoverna according to people familiar with knowledge. to weeks afteres a similar session with anthem and sigma who are pursuing their own 48 ilion dollar merger. the energy -- doj officials worry it could stifle competition. wendy's says hackers were able to steal customer debit card and credit card information. hamburger chain says some cards were used to make fraudulent purchases at other stores. wendy's reported the hack back in january. boeing says it is testing nonstick aircraft coatings designed to cause ice to harmlessly slide off the planes wing. dangerous ice buildup and cause stalls or make planes hard to control. it may also help to ease the impact of blood -- of bug splats that disrupt the flow of air over a jetliner wings. joe: "what'd you miss?" is risingin italy amid reports of the country and the european commission are in deadlock over how to boost italy pot roque and banking system. theier, we discussed banking crisis in italy. stressthe ecb is running tests after brexit an

antitrust officials are poised to buy lawsuits -- a takeover of cigna as well as aetna's deal to buy humana. downward, shares are taking on these headline spirit justice department officials apparently are thank you. we have breaking news. julie hyman concerned the deals would harm customers. this would transform health insurance by turning five companies into three companies. the final decision will come this week and will be made this month whether the doj will block these deals. this is according to people familiar with the matter. we are seeing a clear market reaction to the headlines coming out and there had already been questions about whether these were going through. there had been reports in recent days that there were talks about --dashed investor verse divestitures. that will add to the course of people saying there's too much going on. we shall see. get more headlines on that soon. coming up, republicans hope the second day of the convention will provide -- provide a chance to pivot from yesterday. we're live with more from day one and what we can expect from date he does

aetna once to reduce overlap between the companies.s would receive a 29% raise over five years in a new proposed contract. that is according to bloomberg. pilots would receive an initial raise followed by an annual 3% increase. ups and the independent pilots association say they have reached a tentative agreement. berkshire hathaway seeking to expand wells fargo. 10%ings have hit the threshold, which requires regulatory review. warren buffett does not have a specific transaction in mind. that is your bloomberg business flash. joe: "what'd you miss?" focus on pharma week. we talked with the merck chairman and ceo kenneth frazier about the latest advances in treating cancer. >> it has been something that looked -- people have looked at entering the about for many years. they allow the body zone defenses to attack and defeat tumors, so we have been studying 30 different tumor types in more than 300 studies. the date is one of the first agents that has the promise of being a broad-spectrum agent across many different kinds of cancer it. th

aetna says it is ready to go to court to defend its takeover of rival humana. u.s.nd are considering a lawsuit to block the takeover. a person familiar with the matter says at the is prepared waysgue there are several to present a plan to the elderly. hsbc: a senior manager at holdings has been arrested in new york for his role to rake conspiracy benchmarks -- rig conspiracy benchmarks. mark johnson is the first person to be charged. his arrest comes more than a year after five mobile banks pleaded guilty to raping currency benchmarks. it just bc with not part of those cases. asking walmart is providers to remove eight chemicals from its product. the list of chemicals was created with the help of the environmental defense fund. and that is your bloomberg business flash update. david: now to politics, where donald trump is the official gop presidential nominee. vp, few hours, his pick for mike pence will address the convention. that might not be what people are paying the most attention to. sahil kapur joins us. we will hear from ted cruz, one time running of donald

the aetna, humana -- they'll get mad at me that i said that. >> conflicting calls on chipolte. target, h460. they say they have a hall pass on 2016 earnings. stocks doing okay. >> i thought that was a very interesting call. it was a is to a buis to a buy. i've been saying, buy it to the company and 430. i like this more than the other side trade, but the wells was cauti cautionary. loyalty program kicking in. i've been eating throughout this whole -- i've been eating -- i just do -- obviously i'm anecdotal. i see people going to chipotle again. i do. >> i'm sure you do. i'm sure you do. you've done -- >> did you just get an eye roll? >> why you say me, too? you say, i'm sure you do. let me be honest -- no, let me be dishonest. let me fool you. i mean, what am i trying to do? >> i have no idea what you're trying to do. every day i sit here trying to figure it out. >> have you ever eaten chipotle? >> yes, i think twice. i've been twice. >> i feel your pain. >> i'd love to get your sense though on something else, which is ibm, which you've followed closely for sometime. >> martin

to court rather than simply saying, okay, and perhaps standing by for what may be divestitures if aetna does go through? >> we're very disappointed with the decision. we believe the decision blocks access to consumers to affordable healthcare, that's high quality, and gives great opportunity to the american public to take advantage of two great companies. in fact, we're very concerned about the outcome in the context of that blockage of the consumer to the access that i just mentioned. we do intend to litigate and we do intend to rpursue of the development of the facts as we presented it to the department of justice and we once the facts present it, we will prevail. >> why double that would be the case? for example, what is the largest thing that you believe that doj has simply gotten wrong in their objection? >> question, our sense is the pursuit of the facts, throughout the investigation by the doj. we made very clear that there are a number of benefits to consu consuming public. number one, as an example, we're bringing $2 billion in medical cost savings to the consumer's pocket. num

i want to talk about the deal between humana and aetna. both of these stocks now lower because jpmorgan has cut its rating to neutral versus overweight. jpmorgan saying it sees a much lower probability than a 50-50 chance that the deal is going to be approved. it is cutting at 18 months price we are closer and to that mark with $159 right now. mark: we were talking about cutting losses from the post brexit vote and the stoxx 600 has not achieved that. it is still down by 5.75%. it received a one point 5% boost with the jobs report gaining for the second consecutive day. only to sectors have risen -- health care and food and beverages. insurance has slumped by 17%, but we are up for a consecutive day. you can consumer confidence ,lunging the most in 21 years the latest sign that brexit is harming the uk's outlook. to minusindex sliding nine. it was a special post referendum and the earlier figure was minus one. since biggest slide december 1994, the impact of uncertainty becoming increasingly evident as well. this is the latest figure to sh

morgan is saying they think that deal with aetna will probably not go through.are doubting the deal will happen so it is at the lowest levels since february. julie: thank you so much for the latest on the analyst calls. coming up, with the shootings in dallas, baton rouge, and the how cities, we will look at the latest technology is helping police patrol the streets. this is bloomberg. ♪\ ♪ vonnie: this is "bloomberg markets." i am vonnie quinn. julie: i am julie hyman. facebook's live video service is drawn scrutiny after screening graphic content from recent shootings. it raises questions about how he the content should be monitored and curated. what is facebook's responsibility? it is a corporation, not a nonprofit or government entity to what should it be responsible for? it is interesting the way this has all unfolded this week with the use of technology and how the conversation in america has changed, the conversation about violence against african americans at the hands of police has changed because of this technology readily available on the streets. min

antitrust officials would seek to block mergers in the health insurer space, aetna wants to buy humanas are all in the red, they are weighing the dow down, humana down nearly 4%. the international monetary fund today cutting its global growth forecast for the next two years, blaming the u.k.'s decision to leave the european union. and by the way, that's the fifth time in just 15 months that the imf and christine lagarde have said we've got to slice and dice that number down. so should investors step back or dive in because this, too, shall pass? let's bring in our traders from the new york stock exchange, cme group and the nymex. you scared of buying stocks right now? >> no, no. i think the market's putting on a remarkable performance. big week last week, today's sort of anemia, but we're kind of -- anemic, but a we're kind of consolidating at the all-time highs instead of some kind of 3 or 4% pullback. and we're in the middle of earnings season, clearly the trend your friend, and i think the trend is higher for the market. liz: and, look, june housing starts came in, folks, when they

block two major health care mergers through antitrust lawsuits claiming anthem's bid for cigna and aetna's proposed merger with humana would reduce competition and harm consumers. jason, it is amazing to he is really ready to dump some of our allies or are his words getting twisted again by his critics. melissa: trump may address the growing global outcry where he formally accepts the party nomination. what we expect from tonight's headliners coming up. david: there is this man. ted cruz digging in the hole he dug for himself last night. will he ever stop digging and climb out? among our guests, dennis kucinich, karl rove, ambassador john bolton. >> stand and speak and vote your conscience, vote for candidates up and down the ticket who you trust to defend our freedom and to be faithful to the constitution. [shouting] melissa: chipolte in second quarter results. go back to lori rothman. >> it's a miss, melissa. shares are down in extended session with reaction, missing by 1%. chipolte is saga, with knew -- norovirus and e.coli. not great but, you know, the ceo is out pointing out they have

meantime the justice department reportedly has concerns at aetna's purchase of humana. the deal would combine two of the largest providers of medicare advantage plans for senior citizens. and investors have worried it could pose competition issues. look concerns there the deal could affect competition in the employer insurance market. this has become very highly politicized. >> of course it has. >> because of that whole medicare debate as well. more stocks to watch today, gap reporting rise in june. the first monthly increase in more than a year. analyst had been expecting a 3% decline. the retailer citing strength in the old navy brand. shows of juneau therapeutics. halted the trial of an experience drug following the death of two leukemia patients last week. another person died in may. all 3 were in their 20s and all deaths linked to swelling in the brian. third quarter sells fell short a forecast. the maker of cleaning and products citing flats in the u.s. >> more stocks to watch, barracuda networks posting better than expected first quarter results. reoccurring subs

it would be big enough to challenge aetna and united health.till we've gotten more consolidation, those top five looking. justice department's trying to block these deals. and the new the centene is becoming a place for government managed health care. it looks like the combined company has a little bit of trouble. it reported its first quarter since the deal closed yesterday. wall street was not impressed. while it posted a 20 cent earning beat, thanks to health net swallowing numbers, there were red flags. the vast majority of that was positive exchange counting. substance abuse costs by $90 billion. and a $300 million premium reserve. management said they wouldn't be bidding for any of the assets the major insurers tried to sell. in response, the stock fell 8.5% yesterday. got hit today. this could be a situation where the expectations got ahead of themselves and a lot of confusion. what do we do with the stock here? let's take a look with the chairman and ceo of sen teen. le welcome to "mad money." the timeline of my involvement with kren te

made competing offers for the aetna assets and looking to shed insurance plans to win approval for mergerh humana. >>> summer travel getting a relief at the gas puchl. prices dropping $.07. a gallon averages $2.29. the lowest prices can be found in charleston, south carolina, an average of $1.91 a gallon. >>> when we come back, it has been a decade since elon musk unveiled the so-called master plan to make tesla into a powerhouse. now he's hinting there's a part 2 and it is coming this week amid what's been somewhat of a difficult time for elon musk and tesla. we'll talk about that speculation next. >> today kicks off another earnings season. brings us to our facebook and twichter question today. will earnings recession end in q 2? much more still to come. we're back in a couple much minutes. [annouer] ist a force of nature? or a sales event? the mmerf audi sales event is here. get up ta $5,000 bonus on select audi models. you can flacross weome totown in minutes, or across globin under an. whole commities are living on maransolar satellites in less than a century, boei took the world fro

national security secrets but this week the justice department sued to block two health care mergers, aetnaen really all these companies are doing is the natural logical response to obamacare which is big regulation with heavy costs forces consolidation. it forces out small players and it makes big players want to get bigger. >> jason? >> this is a miss to the nba for its hypocritical decision to pull the all-star game from charlotte, north carolina. nba's moral spencibilitys are offended by law in north carolina that says people have to use public rest rooms based on what's on their birth certificate, now how they are dressed or how they feel. i would remind the nba they have no problem with sex specific sports leagues. they also run the wnba for realm. last time i checked lebron james or steph curry could not put on a sports bra and do play in the wnba. >> dan? >> paul, well, a big hit for my hometown cleveland, ohio, which hosted the republican convention. everybody remembers all the fear and loathing that was in the air thinking that these threatened protests would overwhelm city. i wal

among the main concerns, whether the deal will limit consumer choices for the elderly and aetna plansthe potential acquirer, are lower by 4%. >> let's check some other movers by thursday. micron technology among the biggest gainers in the s&p with micron announcing a new manned flash chip that's been optimized for internet things and automotive applications. gartner estimates the internet of things hardware and services market could hit lrg $3.5 trillion by 2020. those are all those smart things in your home, the internet of things. kelly told me. western digital also rising with the hard disc maker late yesterday raising its earnings guidance for the fiscal fourth quarter that ended july 1st. western digital also announced that market long will take on the cfo role on september 1st in addition to his current position as chief strategy officer. kell? >> let's get to samsung now. posting its best quarterly profits in over two years citing galaxy s-7 smartphone sales after apple saw its first year on-year iphone sale decline s.samsung eclipsing apple as the smartphone of join. michael,

that's because something hit the windshield of the aetna hook and ladder company's engine eight as itto that call. now aware of their firefighters didn't stop and continued on to the oak tree . >> that's a very close call. the driver actually got g ng at e windshield was broken on the >> now, officials say they'll have to custom order a new windshield because it's an older vehicle. the estimate is just about $1,000. but there are two bits of good news here. first and foremost no one was hurt and the fire they were responding to turned out to be a minor incident caused by >>> wilmington fire department rescued a man from the christiana river this morning at 10:30 officials say the man's rowboat capsized near harry's savoy grille along the wilmington riverfront. he was able to call for help before the boat took on water. 18 fire officials responded and brought that plan to man to safety. >> tim mcclanahan is being honored this weekend in dover way light display at the state capitol. mcclanahan was killed when he fell from a helicopter during a training exercise monday in georgetown. >>>

aetna wants to buy humana for $34 billion, while anthem is trying to buy cigna for $48 billion. justice officials say the deals would hurt competition, and consumers. the companies say getting larger will help them cut prices. fox news channel c.e.o. roger ailes has resigned. parent company 21st century fox announced it late today, and said it's effective immediately. ailes faced growing allegations of sexual harassment. and, on wall street, stocks gave some ground after a week-plus rally. the dow jones industrial average lost 77 points to close at 18,517. the nasdaq fell 16 points, and the s&p 500 slipped seven. and, the national basketball association is moving next year's all-star game from charlotte, north carolina, over a state law on transgender bathrooms. the statute requires people to use public restrooms matching their sex at birth. a league statement says it wants all people to feel welcome at its events, and will choose another city. >> sreenivasan: vice president joe biden spoke with turkish president about demock sivment this comes as a crackdown after last friday's

the justice department has concerns over aetna's purchase of humana.would combine the two for senior citizens and investors have long worried that could pose competition issues from regulators. there are concerns the deal could affect competition in the employer insurance market. >> now that they're done with the clinton investigation, they can get back to this stuff. >> i mean, john kerry, he's like we've got to get to the bottom. he's going to take time out from trying to overturn the brexit decision to try to working behind the scenes to make sure that doesn't happen. shares of juno therapeutics getting slammed after trials of their cancer treatment was put on hold. you're shocked. >> i'm not shocked. i'm shocked at what one senator called the dumpster fire that is this election. that was the best characterization. it was in the notes last night. and i think dumpster fire is is the best way to characterize it. >> one thing that was weird was the idea yesterday from every democrat that spoke, that this would somehow not have occurred if there weren't

aetna and humana look like they're going to push ahead.ple proposals already for remedies, it wasn't enough to satisfy justice brennan. they're going to look at additional possibilities. david: they came out with a joint statement. they said we are still in it. winnie: they really want to get this deal done, they were offered more things. they can also go to court and fight it. services,ich provides and a lot of obamacare markets yesterday, that could put pressure on the administration. another wildcard is that and --e and cigna -- and some anthem and cigna are struggling. it might be a little easier. david: does it weaken the justice department case? winnie: that's right. it might be easier. i don't think there is an easy path to getting this done. david: speak to something about the health care and insurance industry, how concentrated it is. is there room for anymore mergers of large health care insurers at this point? neede: they think they this to compete with the hospitals that are coming together, they say it is essential for competi

. >> they may increase the profits of aetna and anthem, but they would do so at the expense of consumershealth professionals across the country, inflicting costs that cannot be measured in just dollars alone. >> the cdc says 400 pregnant woman in the u.s. has evidence of the zika virus, up from 346 a week ago. it also reported three more babies born in the u.s. with birth defects linked to the virus, bringing that total up to 12. >>> the man who could be the democratic nominee for vice president head roundtable discussions across virginia today. senator tim kaine's first stop was in arlington, where we talked about immigration reform. >>> president obama welcoming the world series champion kansas city royals to the white house. the team presented the president with a jersey emblazened with his name and the number 44, for of course being the 44th end of the united states. 44th president of the united states. >>> let's get to jackie? >> oil prices are down on the day. hitting new lows as we speak. certainly part of trade today, but also what we've got saying for some time. oil turned posit

we should point out cigna and anthem's merger with cigna and aetna's deal to combine. my prediction. a lot of them, they want to combine, they were promised the world, were they not, in terms of the business they were going to get from obamacare. well, if they're offering insurance through the individual market, through these exchanges, the people that they have gotten as customers are very sick and they're very costly, and that has been-- they've got pre-existing conditions and that's put a hurt on their businesses and one of the reasons that they're looking to combine. i want to point out, the obama administration went after the allergan-pfizer deal, charles. they were doing it because our tax rates in this country are so high and they specifically changed the tax rules to shut that merger down because the obama administration didn't like the way that it looked. so they were doing it to avoid the high taxes here, well, then lower the taxes. again, i think that businesses have a target on their back, whether it's in the insurance business or any business. charles: you