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that's alex gorsky, chairman and ceo of johnson & johnson mr.orsky will be back. >>> we're here with alex gorsky from johnson & johnson to get his spoons to these allegations about the presence of asbestos in the talc or not the presence of asbestos in talc. it's important to learn the full story from the company itself including how its pharmaceutical business is performing and how the company is going i'll go right there. after the bell you did something a company tends not to do if they're worried about their balance sheet and announced a 5 billion buyback. tell me about it. >> we did. we announced a 5 billion buyback this afternoon and frankly it's a reflection of our confidence and conviction with the company going forward. and while we're managing these issues we could not be more excited about the future if you look at the fundamental and underlying strength of our pharmaceutical sector or medical device sector and our consumer sector, we think we're well positioned for growth going forward. >> now there are people watching at home and kn

here's what alex gorsky said to jim cramer last night.ught he said the more recent cases over the last 12, 18 or 24 months there's been 40 in total 35 of them have gone our way either through decision or appeal and the five outstanding, those are also under appeal. i assume the five outstanding includes your case so you're basically saying you'd take a settlement from them rather than wait and see how this goes on appeal? am i wrong in interpreting that's what you're saying here >> becky, every case ultimately settles. i don't know that i've ever had a case that goes all the way to the supreme court and then is paid in full every case finds resolution. at some point it's a business decision for the litigants as well as for the company. and smart minds can prevail on that so obviously there needs to be business solution. this is a business problem at its core not just litigation. all litigation ends up being a business decision. >> to talc miners have any higher incidence of cancer >> it's interesting the answer is according to some studie

johnson & johnson, ceo alex gorsky took the helm when the iconic image of j&j was a bit tarnished andchanges to get the company back on track while making the biggest acquisition in the companies history and managing the transition to obamacare. after donald trump was elected president, he sat beside him helping to represent a growing health care industry that already accounts for

in an interview today with cnbc's "mad money" ceo alex gorski responded. >> i would start by saying we unequivocally believe our talc, our baby powder does not contain asbestos. that's demonstrated in thousands of studies, not only conducted by johnson & johnson, but conducted by independent authorities, well respected authorities where we work closely with regulators who are overlooking the methodology. by the way, throughout this process we also not only use the best testing methodologies that were available, but we continued to improve them through the years. >> shares fell nearly 3% today adding to the 10% decline of friday. goldman sachs found itself where no company wants to be. it is tangled up in a corruption scandal. the scandal is in malaysia and that country is filing criminal charges. that sent the stock down more than 2.5%. w wilford frost has details. >> goldman sachs was dealt another blow in a scandal it's been trying to contain. malaysia filed charges against the bank and two former employees saying they committed gross violations of the country's securities laws. this

. >> j&j ceo alex gorsky talking with jim saying the baby powder does not contain asbestos.ng severe losses. the lead attorney for the plaintiffs mark lanier said he was not convinced of the company's findings, and although it's been a painful few sessions really 132 takes you back to late august or so, labor day >> they also announced that share repurchase program which is giving lift to shares today, too. >> it's the story of our time. we have more data, more arguing, but less intelligence knowing what to do with the data, less wisdom there's science here let's get the facts, go through the facts and figure out what's true >> plaintiffs attorneys have lots of tricks in their bags for sure micron tonight will be important. let's get to the judge >>> i'm scott wapner it was the call that shook the markets. doubleline's jeffrey gundlach declaring the bull market dead is he right? and, if so, is there anything the fed can do to revive it? it's 12:00, noon, this is "the halftime report. >>> a crucial two-day fed meeting begins as stocks recover a little lost ground but the big

that johnson & johnson knew for decades that there was asbestos in its baby powder j and j ceo alex gorsky denies those allegations. he sat down with jim cramer last night on mad money. >> we unequivocally believe that our talc, our baby powder does not contain asbestos, and that's demonstrated in thousands of studies, studies not only conducted by johnson & johnson but studies conducted by independent authorities, well respected authorities where we work closely with regulators who are overlooking the methodology and by the way, throughout this process, we also not only used the best testing methodologies that were available but we continued to improve them through the years. >> now, jim also pressed gorsky on a bomb shell reuters report that the company withheld information from the food and drug administration back in the day about the presence of asbestos in its talc >> the fda at the time confirmed that not only was the methodology and testing that we were using the correct one but they agreed our talc, our baby powder did not contain asbestos. >> but reuters investigation said it did

to be accused of hiding asbestos in your products, especially not baby powder but last night ceo alex gorskyame on our show and offered what i thought was a serious rebuttal i did my best to bring up every single major allegation from reuters and "the wall street journal. investors liked it at the same time he announced a buyback on the show. plus, it sure didn't hurt that the lead plaintiffs came on "squawk box" and said investors might be overreacting. telling them the losses would be contained. third, we needed to see a bounce in goldman sachs after the endless press onslaught about its association with this corruption scandal in malaysia that spurred criminal charges against the firm in malaysia now there has been a tremendous drumbeat of negativity, most of it deserving, frankly, with people wonderingwhether goldman's culture was corrupt and whether the company should have known the former prime minister was siphoning money from deals how would they have known? the argument is that something must have been fishy because the fees were so outside 10% of the more than $6 billion that goldm

guests continues later today on "mad money" when jim cramer interviews johnson and johnson ceo alex gorsky tonight at 6:00 p.m. eastern "the halimrertlifte po" ve from los angeles is back in two minutes. (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade. >>> welcome back to los angeles. we're live from doubleline headquarters with jeffrey gundlach 12:30 in the east. 9:30 a.m. locally. you mentioned some of the policies in d.c. what about the midterm election results? what about the prospect of more hearings, the mueller report, impeachment, all of that into the prism of how you see risks in d.c. affecting the markets. >> none of that sounds like a positive the midterm elections i thought would l

then had that very, very sharp drop because of the issues, the accusations about asbestos now, alex gorskyame on and talked with jim cramer, very, very upfront, the day all this news broke, and described exactly what they do and how they go through the process. i think that was very encouraging. the stock obviously took a really big hit i mean t literally dropped down towards the 200-day moving average. that's where it's holding right now. when i look at the fundamental story of what's going on here, this is a company that gives you nearly a 3% dividend, free cash flow is absolutely outstanding when you look at the balance sheet, that looks strong as well there's a lot of different fundamental parts of this story that make sense. should it have gotten sold off $50 billion worth of market cap? i'm not so sure about that so i think it is creating an opportunity. sometimes you've got to have a little bit of guts to jump into something like this, but i think what we've seen now is any of the negativity of what was attached to there has been priced in. all of the positives have been pushed out

but you saw the interview that jim cramer did with alex gorsky of j&j this week you wanted to make some> let mel the you let's start with the fact that johnson & johnson has one of the great corporate cultures in america. i own some stock, but not a lot. you go back to 30 years ago tylenol. they showed their colors by how they reacted to that and what they did that was first class this company, i'm sure, their first concern is safety. no matter what it is some of it's the fda but as a company, they've always demonstrated their commitment to the best for their customers if there's a company out there that should make the good fight, it's j&j they do it right they have great values alex is a wonderful leader j&j's always had first class leaders. you feed the monster when -- this guy yesterday that you asked him about -- >> mark lanier who's the lawyer, the lead plaintiff lawyer. >> he's begging for a settlement he wants a settlement. please j&j don't settle. take it all the way. the more you settle, the more you encourage them to keep doing this kind of thing let them have skin in the gam

there is a lot of scared investors out there and a lot of people don't believe in alex gorsky, i thinke vindicated >> okay, let's get to bob pisani now. i noticed fedex is down over 8% this morning we are staying at 10 years >> we are down 23% on the month overall here 2-1 in advancing declining stocks take a look at the sectors transports are down. energy is doing a little better and consumer staples a little better and bank are flattish fedex is the key story global trade has slowed in recent months and lead indicator point to ongoing deceleration in global trade near term there is the fedex if you can put that up. that's the key story we are dealing today. transports all down on that. fedex and ups and expediter and ch robinson and also to the downside on that here. we have seen a modest downward pressure on overall 2018, the fourth quarter number, we had 20% earnings growth. it has now come down a little. it is 16%. it is a little heavy than normal still about 8% earnings expected growth that may be the start of all of this where is the buyer going into close? everyday i have been

. >>> on "mad money" jim cramer will sit down for a one-on-one interview with alex gorsky >>> coming 4% today and having the worst quarter in a decade alexa, is this a blip or a reason to worry? the trading nation tm ll ke lk,ext.eawi duncan just protected his family with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75? $50? actually, duncan got his $500,000 for under $28 a month. less than a dollar a day. his secret? selectquote. in just minutes, a selectquote agent will comparison shop nearly a dozen highly-rated life insurance companies, and give you a choice of your five best rates. duncan's wife cassie got a $750,000 policy for under $22 a month. give your family the security it needs at a price you can afford. >>> welcome back to "power lunch. getting crushed and adding to a steep selloff the last couple months stock down more than 20 per. shedding more than $2 billion in market cap in that time frame. on track for its worst quarter since 2008 so, is amazon's reign over retail coming to an end? harry, there can't be too many big stocks in