the fda has rejected an application by alkermes for approval of its experimental depression drug.wn enough proof of effectiveness. >> alkermes. >> adp has updated to outperform at rpc capital improving growth story for the payroll processing company they made an identical upgrade for olive garden parent restaurant darden restaurants. you can always bet on pasta. >>> snap chat parent cut its global workforce by 7% last month. snap will take a $10 million charge against earnings for the quarter that ended march 31st. we heard about some of those layoffs. egg producer cal-maine earned 12%. >>> when we come back, retail meets health care. walmart reportedly looking to buy humana amazon has been stepping up its operations in the health sector. we'll talk about possible deals in just a bit. later former under secretary of defense paul wolves did have --z will be up you know what's awesome? gig-speed internet. you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, the

when will this pipeline launch up to three digits >> which one >> caller: alkermes plc. >> major depressionworth it it is worth a buy. let's understand each other. j & j reports tomorrow that is going to be remarkable steve in georgia. >> caller: steven from atlanta i am calling about a company called gern. it is a medical bio. >> we are going to do thermofisher, we have to stick with high quality. let's go to atish in illinois. >> caller: following a company called sorrento, srne. >> we have seen too many take-overs in this area for me to dismiss i am blessing it dorothy in new jersey. >> caller: hi. hi, jim. i want to know what you think of mooi tek >> i am not going to be in on that and listen, you want to get chips that help you there, i think you by nvidia. it has been down and out lately. and not right that it is thomas in nevada. >> caller: cramer. about a year ago i was watching the show and youhad the ceo of ak steel holding and i thought your questions were relevant and i liked his answers so within a few days i bought some and it has done nothing but tanked, what's going on? >> m

some of the names bringing the names lower is alkermes. regenr regenron, gilead and biogen. so buying opportunity or more pain ahead >> i think for -- these guys were talking about looking for valuations there's decent valuations. let's go over the xbi chart. that has come down to the uptrend and that has reasonable valuations versus some in the ibb. if you put that chart up, there was a massive double top so you want to see how it act s at thee technical levels but you continue to get the fundamental news and you know this is a seconder that is in the cross hairs of washington. >> it's in the cross hairs but it hasn't been in the cros hairs. i think there are other fish to try but to me it was the tape and al kemes, you get a refusal to file letter from the fda, that's like getting something from the imf they have to restate earnings or regive earnings. there is a big short interest, stocks remain under pressure but it should not drag the rest of the space down. >> i'm concerned about the space giving what's going on in the health care space and the pbms and hmos and the me

fabulous news for parents and for, of course, people who suffer from major depression a very good drug alkermese fda decided to let them go forward to look at it. major depression and then i don't know whether people understand the importance of -- they had fabulous reports on a nasal spray chetamene. the lgd cause of death among youth is suicide so this is great news for sufferers of major depression and i'm just so thrilled j&j test was really a lot of -- my daughter is in this field and it is good news. >> j&j earnings tomorrow >> yes, stay close to that >> what's on "mad" tonight >> i have dynegy which is vistra texas utilities. david, you've covered that a lot. it's the largest power merchant now. they announced this acquisition and changed the name no one gave it any import. i love following the utilities if only to get a real read on the economy. they know more than anybody. >> jim, we'll see you tonight. >> we've covered a lot "mad money" tonight 579:00 p.m >>> when we come back, an exclusive with will dudley how do you gauge the greatness of an suv? is it to carry cargo... or to carry

looking at individual stocks, alkermes falling sharply more on this story in the next hour snap is continuing to fall as it confirms it's cutting 7% of its global workforce and we're continuing to watch shares of nike the company is taking steps to address its so-called boys club culture. following the resignation of a top executive who is considered to be a possible successor to mark parker. >>> shares of tesla are falling again today. down nearly 20% in the past week in part because of the fallout of a fatal crash while that is happening look at this elon musk sending a joke tweet including a photo of him passed out against a tesla. channels his elmer fudd there. bank what it says? are jokes like this getting old. april fools' day but really costing shareholders money all over tesla and this broader selloff when "power lunch" returns. my name is cynthia haynes and i am a senior public safety specialist for pg&e. my job is to help educate our first responders on how to deal with natural gas and electric emergencies. everyday when we go to work we want everyone to work safely and come home sa

alkermes getting crushed, the fda rejecting its application for a depression drug. saying go back and do more research also alnylam seeing damage as well as a competitor looks to bring out a rare heart disease drug that could also eat into its market share so, those are some of the big momentum movers that are really dragging things lower, wilf, but it's definitely the technology that is the biggest drag overall because of those mega caps back over to you >> bertha, thank you very much for that we have got about 3:30 to go before the bell rings on the floor of the new york stock exchange and it's still a big selloff staring in the face, but not quite as bad as two or three hours ago. we're down 465 points right now as we speak on the dow at the lows of the day we were down 3%. we're down about 2% right now. let's take a look at the intraday chart the nasdaq has been the laggard so let's use the nasdaq. didn't open too soft sold off pretty steadily until 12:00. lunchtime we got an hour or two of reprieve and have improved steadily over the last hour into the close. w