allergan is flying.. >> listen, let's not forget many still continue to question valeant and the way it goes about showing some of its numbers. others point out to me they never gave quarterly guidance, so how can they be exceeding it? >> i don't question your reporting, which is unbelievable in this story. >> have a good one, guys. in the meantime, the president will address the u.n. assembly as he seeks to build a bigger coalition against isis. we'll bring you live coverage later this morning. right here. with a control pad that can read your handwriting, a wide-screen multimedia center, and a head-up display for enhanced driver focus. all inside a newly redesigned cabin of unrivaled style and comfort. ♪ the all-new c-class. at the very touch point of performance and innovation. ♪ at the very touch point of performance and innovation. i take prilosec otc each morning for my frequent heartburn. because it gives me zero heartburn... annc: prilosec otc the number one doctor recommend frequent heartburn me

there is interest in salix by allergan. it would be an all-cash deal designed to close prior to the december 18 special meeting of allergan shareholders. what i can also tell you at this point is they are just beginning the discussions about price between allergan and salix. if they want to get something done, they need to get it done with relatively quickly, within the next week or two if they want to get that timing for closing the tender offer. remember, that's got to be open for some period of time prior to the december 18 vote, which then makes that vote all about, do you want to get rid of directors who did a deal which you had no vote on? it would take up much of the balance sheet capacity of allergan valeant is relying on. it becomes unclear whether valeant would be able to raise a lot more money. this morning phil ekman comes out in a letter saying my undertaking the acquisition without a shareholder vote, you are breaching your commitment shareholders would have a vote. >> i'm a fan of david pyott. does it make se

allergan faces a few choices over the next few months.pointed out many times when this thing started in may it was going to play out over a long period of time. it has done just that. they can if they think they are going to lose the vote, try and negotiate that deal with valiant. the deal is worth north of $170 a share. you see the stock price trading around that. valiant is well off its lows. that brought a lot of question marks. shareholders will have the opportunity to see valeant report earnings. october 20th it will report earnings. record date for special meeting october 30th. allergan has questioned those numbers many times in this battle. at least giving itself one more chance to see how do those quarterly numbers look. allergan's other opportunities? they do an acquisition that takes valeant out of play. they use the balance sheet it was counting on to finance its own deal or find a white knight. now we are finally getting down to it. we shall see over these next weeks as popposed to months. we've got december 18th. shareholders

. >> allergan shareholders sending letters and allergan responded this morning.nother story. >> letters per share in the allergan deal. letters per share in darden. >> he owns a lot of the company, going for a proxy fight. here, yahoo! really? >> before break, pimco. >> okay. >> glad we got that in the a-block. >> have we mentioned pimco? >> when we come back, headache for apple from overseas. we'll tell you all about that. take another look at premarket. looks bumpy here at the open with futures down 145 on the dow. more "squawk on the street" from post nine in a minute. ♪ when the world moves, futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with paper money to test-drive the market. all on thinkorswim from td ameritrade. >>> take a look at futures. moderate weakness at the open income and spending data. big jobs number on the way friday. in the meantime, eu publish decisions tomorrow on tax probes into anal and fiat. ft reports european commission set to accuse the iphone maker of benefiting from i

valiant hearts allergan. allergan does not heart valiant. i don't mow hknow how all of th ends up. i am long some of them in there. it makes me think green hill. >> general hospital episode. such a great chart by you. >> it is a love hexagon. >> have you ever been involved in a love hexagon? >> even if i were, i wouldn't share with the audience. >> what happens, karen? >> what happens is -- >> still playing the spread? >> i'm out of the spread as of today. i'm actually surprised allergan hung in there as well -- or did well, actually. it seems like war games to me. there are so many ways to win but there are also so many ways to lose. i have some asstra ztrazeneca ae pfizer. that's the kind of work we do. >> hearts. >>> still ahead, the biotech name that's logging huge gains as both the u.s. and canada greenlight the u.s. of its ebola treatment drug. >>> apple's product launch on september 9th was disappointing for gt advanced technologies. is there more bad news in store for the stock? the analyst who's been right on this stock just cut estimates today. we've got him straight ahea

good company, but whenever i hear allergan might buy x, y, z. >> but if allergan were to do something, we don't know what it would be necessarily, but conceivably it would stop valiant in its tracks. what would the stock do? >> the reason why i like allergan on its own is they put out a $10 number. suddenly you lose the $10 number but you end up losing the cash. what i see is that i hope they don't do that. if allergan is independent, you have $160, maybe $170 stock on its own. typically 18 to 19. >> that means they have to continue to fight this fight over valuation and questioning valiant's business model and growth. it simply comes down to, what will be that meeting? >> and allergan has to come through with these products people are saying are really big. they have a lot of work to do to stay independent. but david is still continuing to surprise people. you don't put a tough letter like that out unless you recognize he turned out to be more phorfo formidable than you thought. >> ackman says it's running the most unfriendly, hostile defense process in corporate america. >> i hope a

in the meantime allergan could buy -- pharmaceutical.he way it pays, let's say it does stock, let's say it does debt. some combination could make the stock unpalatable to potential acquire rers. so let's see. that earnings, we got two suitors. a deal the street would like. that is what you buy. apple is not all that hard here. it can't meet demand for new phone. and that means the carriers all are quite competitive will be eager to get into the subsidy game. even a few weeks ago we were concerned they wouldn't bother with. sprint, owned by soft bank -- and the deals he can offer for the new iphone could be amazing. at the same time, t-mobile, he's so aggressive you have to believe that company will move heaven and earth to get the iphone into your hands, even the big one. verizon and at&t aren't going to let these get ahead. so for sure you have the retail buyers. but now the big four now feel the heat to help apple. meanwhile not having a chinese offering to, to me that becomes a positive. it means when apple does solve china and it wil

you may recall allergan is trying to enjoin bill ekman voting their 9% stake in allergan in a specialng. if that were to be the case ackman couldn't vote those shares, they have enough to meet the 25% threshold needed, that they need to meet by september 14th to call that special meeting. the company has not committed. they told us a date of december 18th. we shall see. when it comes back to allergan, if there is going to be a deal they try to pursue to perhaps use up that balance sheet in the past, something we talked about a lot, time is of the essence for them to a certain extent if they want to try to get something announced and perhaps closed prior to potential special meeting. again, they are at 35% or will be by the end of today. back to you guys. >> all right. david, thank you so much. great stop. we'll get stock trading with jim in a moment. s&p back down to 1990. how do you beat the number one seed? you just have to win 70% of your points at net. and keep unforced errors under 10%. on the ibm cloud, the us open analyzes 41 million data points from 8 years of competition to u

let's take a quick look at a battle i've followed, allergan and a favorite of yours. >> there you go.f the shareholders consented or sent in their consents to ask for a special meeting of shareholders. that brings the total now from valiant to deliver to 33.8% of the shareholders asking for a special meeting. previously, they will set the meeting for december 18 th, but importantly, they are expect to confirm in the next -- let's call it a day or so -- they received in excess of the 25% of consents that would be needed to call the special meeting. there's also, though, some question as to weather begin all the paperwork associated with putting in your consent, whether or not allergan is going to go through challenging many of those consents, whether it was properly dotted or t crossed. i hear that's not going to be the case. what they are not going to challenge every little detail of the consents. what they are going to do, though, and continue to do and press the case now in delaware, there was insider trading by actionman, tried in california, sent out, and they may weigh in, nothin

and allergan will hold a special meeting on december 18th.g to replace board members with his own nominees at that meeting. sears turning to its own chief executive for its latest cash infusion. esl investments will lend the retailer $400 million giving it enough cash to get through the holiday season. the loan is secured by company property that matures on december 31st. that could be extended another two months if necessary. leisman says -- oh, oh, oh, oh. oh, boy. uh-oh. the term is not considerable period. >> what is it? >> considerable time. he entitled us not to be picky. and then he goes on to say the phrase is "considerable time," not "considerable period". >> for fed watchers, every word -- >> he needs to dress me down a little on this one. so that's what i got to look forward to. i'm going to get attention. justice. >> our next guest says the economy strength will impact the risings interest rates. he is standing by his prediction that we'll by b hitting dow 18,000 by the end of the year. joining us is jeremy siegel. he is professor

moving on, activist recent hi made a deal to buy allergan.ve agreed to merge with a union with plans to relocation the company in ireland for tax purposes. allergan's interest in valeant up as we speak. >>> sticking with the m&a theme, the federal trade commission is reportedly considering an anti-trust lawsuit. "the wall street journal" says the ftc has been investigating the merger which would combine the two food supplier wes a nationwide reach. let's take a look at how sysco is trading, down about 6%. >>> the united states launches an air offensive in syria targeting islamic state strong hold. >>> no more inversions, the u.s. looks to cut down on the loop hold and send shares lower. >>> cf industries could create a $27 billion fertilizer giant. >>> china's health care reforms, a hot button issue for investors. we're going to talk about that next coming up on "worldwide exchange." want to change the world? create things that help people. design safer cars. faster computers. smarter grids and smarter phones. think up new ways to produce ene

bill ackman says he will sue allergan if it is,quires another company.he's

say they've got allergan. liquidity is not great even for the individual issues except for sprint. there was a man who sat opposite us friday who is, who i think will buy every sprint. >> you don't go against massa. >> no. do you go against reynolds paper? philip morris downgraded today. you want to shoot against heinz. i don't want to shoot against heinz. you go after these etfs which have little liquidity and not necessarily the right trade. i should be talking about nike. nike is very important. i'm trying to get everything. >> think about what you're going to be talking about for your "mad dash." as we count down to the opening bell. cute little guy, huh? this guy could take down your entire company. stay with me. on thursday a hamster video goes online. on friday it goes viral - a network choking phenomenon. why do you care? he's on the same cloud as your business. the more hits he gets, the slower your business may get. do you want to share your cloud with a hamster? today there's a new way to work. and

but then you have allergan. >>> china's rich are on the move.ert frank to the right of me. >> half of china's millionaires plan to move overseas. we will tell you which american cities may cash in on china's millionaire migration when "power lunch" comes right back. # special powers when she has the shroud? no. guys? it's the woven one the woven one. oh, oh that gives her invincibility. guys? no, no, no... the scarlet king is lord victor's son!! no don't. i told you! you guys are gonna be so surprised when you watch the finale!!! you're so lucky your car has wi-fi. yeah...i am. equinox from chevrolet... the first and only car company to bring built-in 4g lte wi-fi to cars, trucks and crossovers. at legalzoom you can take care of virtually all your important legal matters in just minutes. now it's quicker and easier for you to start your business, protect your family, and launch your dreams. at legalzoom.com we put the law on your side. this is holly. her long day of outdoor adventure starts with knee pain. and a choice. take 6 tylenol in a day o

as for allergan shares up by nearly 2%. >>> posters have going hog wild in scotland after a poll showing people are in favor of breaking away. a new poll out today shows support for keeping scotland in the british empire, so to speak, such as it is an empire. then the dynamic dollar and questions being raised about whether the strong dollar will kill the recovery. to our international corresponde correspondent. >> there are two polls out today which show the noes have a slight lead when it comes to the question of scottish independence. one survey noes have 52% versus 48% in favor of independence. important, though, those numbers exclude undecided voters. in their poll 6% are undecided. the second poll from the guardian icm shows noes at 51 and yeses at 49%. the undecideds are excluded. 17% undecided. in other words, this is way too close to call and the leadership of the no campaign is very much acting like they could still lose. by the way, the votes are already coming in. you are seeing people verifying them. a record number of people have registered to vote, 97%. turnout expected to

after those two, allergan and the specialty chemical company, burger king, canadian pacific and howarditional value pick that happened to have done well this year. >> a platform, what is it call some. >> platform specialty products. >> i guarantee you this is the first time that stock has been mentioned on our air in at least the last six months. >> right. it's just interesting six month >> it is interesting that that is the best performer year to date. i am told substantially his positions haven't changed. >> franny/freddy? >> it is not in his top five but within the top ten. >> guys? >> herbal life, by the way, it is a little unclear where he is at. so far year to date he is doing well given the stock has fallen so dramatically. since the inception of the trade waw may or june of 2012 and he restructured it so economics are hard to discern. he might be even. >> one of the hot topics is how sometimes with event-driven funds your investors get shaky at the worst moment when they actually need to hold tight. how much of these reinsurance subsidaries are about having a pool of capital th

we talk about it all the time, allergan deal, some have fallen apart, some haven't. it's a lot more to this than inversions right now, quite frankly. thing are so many companies out there looking for that pipeline, looking for that next drug. and when they dent want to use their own money to do that right now, they'd rather buy into it. that's why i think that space over the next three or four months will be absolutely red hot. >> let's look at hain, trading higher as well. sort of in the same space. organic food, that's all the rage. where the growth is in the food business. so we're seeing reaction in the stock. >> let me point out one other thing about annie's, there is a big short interest here, 22%. that's going to be some pain tomorrow. and it's going to make people think about other shorts that are expensive and maybe shouldn't be trading as as high multiples as they do. but this could happen. that's scary. >> annie's went public march 2012. it was an ipo price of 19 bucks a share. remember that time? that was a very hot ipo when it did go public. but this tak

and there's allergan in the news again. faber reporting that it is now in serious talks to acquire salix. there's no word on price. david says the deal would close before the meeting where they are going to talk about it. and to throw one more in the deal stuff that dow jones now reporting that allergan rejected a bid from activist in august. look at all those stocks right there on the screen. >>> coming up next, the white house is out with its plan to clamp down on tax inversions. but is this the right band-aid to what many say is a broken american tax system? we'll debate it in just a moment. [ male announcer ] automotive innovation starts... right here. with a control pad that can read your handwriting, a wide-screen multimedia center, and a head-up display for enhanced driver focus. all inside a newly redesigned cabin of unrivaled style and comfort. ♪ the all-new c-class. at the very touch point of performance and innovation. ♪ at the very touch point of performance and innovation. whenwork with equity experts who work

. >>> bill ackman is speaking out today criticizing allergan's board, he's calling on investors to wake up and listen to what he says the are potential of pharmaceuticals offer and what they're trying to do that. in there a letter, ackman writes your actions have delayed enormous potential value creation for shareholders and are professionally and personally embarrassing for you. in its response, allergan is reiterating its criticism of valiant's offers. >>> we are a week away from the next fed meeting and there are rumblings that the rate hike could come sooner than expected. joining us right now to help make sense of the signals from yellen and company is david bianco. he is deutsche bank's chief equity strategist. bill lee and, gentlemen, welcome to both of you. >> thank you. >> david, first of all, what happened yesterday? this was the biggest drop in over a month for the dow, the s&p and the nasdaq. >> we've seen long treasury yields move up just a little bit. there's tension in the equity markets over what's going to happen to interest rates. >> we're talking about finally pushing

companyour, another bill ackman might be asked in -- allergan has received escutcheons to buy the farmussions to buy the pharmaceutical company. >> number three, procter and gamble -- the consumer products giant is selling it at care business to spectrum brand. they sold about 82% of the global pet care unit to mars earlier this year. number two, tesla motors -- the electric carmaker, elon musk's company, dropped to the lowest level in two weeks yesterday. a j.p. morgan analyst projected a sharp rise of less than $200. shares continuing to extend that drop. >> it is probably that discount because of the fact that they are branching out into space taxis. >> the space taxi discount. >> a stock is only up 66%. poor elon musk. -- shyerr one stocks and estrogenic -- astrazeneca. in a deal right now to be bought. there are lots of questions right now about whether the crackdown that jack lew has announced will be a crackdown. we have the chief investment strategist at history bank, saying it is smooth sailing. -- for stocks and that it is choppy seas with risks decreasing. we have gone three

the group is so hot, we didn't talk about this, but jazz pharmaceutical, people saying that's the allergant people want to own biotech and they ought to know what they own. because what happens is they own it and it's a one product and it doesn't get approved and you see those go down. i think this guy's the real deal. i can't wait to speak to him. we're doing defense. i think the u.s. government defense budget, we have many challenges ahead of wednesday's speech. >> by the way, "squawk" did it but congrats to the birds. nice comeback. you were tweeting, still early. >> maybe had concern, maybe scared to death. >> jets won. >> yes. >> one ugly win as the "post" says. >> w and ws. >> thank you. saimon hobbs is back. >> open sesame, in the next hour we'll go in search of value in the alibaba ipo. also ahead, we'll take a good look at what the president said about going on the offensive with islamic state. and the ceo of maserati and zegna will join us live as they create a hundred cars to celebrate one century in business. in new york state, we're changing the way we do business, with startu

hey, what would a day be without mentioning family dollar or allergan?dollar, they rejected that tender offer from dollar general. remember, $80 a share doesn't mean much of anything in the sense of changing the landscape at this point. the tender offer moves ahead. most importantly, dollar general will be able to potentially at least get a temperature read on the anti-trust regulators and how much it really will take for them. then therefore be in a better position to decide what they're willing to do in terms of store divestitures. they're at 1500, if you recall. that has been rejected by family dollar as not being enough. they're going to want something in excess of 2500 when you look at the overlaps. direct overlap, about 6,000 stores within three miles of each other. then you go through all the different numbers. this morning, this guy at trian is a busy guy. he's on the board of family dollar. he's also dealing with the dupont thing with of course nelson peltz. this morning, you know, i pointed to his quotes before. i'll do it again here in the rel