actavis ending long saga allergan playing off as it fought off valeant. $219 a share purchase of allerganl worth more than $219 a share because, as you see, actavis' shares responding sp positively to $1.8 billion in synergies by 2016, a number above what many analyst whose investigated the possibility of this deal had anticipated it would come in at. earlier on cnbc we had an opportunity to talk to both men who run these two companies, david pyott from allergan and brent saunders, who will run the combined actavis/allergan. >> this the best run company since pharma. for us to run the company that david and his team built over the years a fabulous long-term opportunity to create value for shareholders. we overlap in three of the four therapeutic areas, our international operations move into scale, we're able to achieve 1.8 billion of synergies. industrial logic incredibly sound. yet we have accretion to growth. how many deals of this size and scale to do you see accretion to growth for the long term. >> your company's so busy. are you taking on too much? the forest labs deal didn't close

he is allergan's largest shareholder. the value of his 10% stake has surged, giving him a profit of more than $2 billion. and actavis says that with the acquisition of allergan, the combined company will have two dozen new products in late stage clinical testing. >>> nmore now on the other majo merger confirmed today. halliburton has agreed to buy out the rival baker hughes, number three in the business, for nearly $33 billion in cash and stock. the deal was driven by the 30% tumble in oil prices just since june thains forced energy companies to cut costs and streamline production meaning less work for both companies. shares of baker hughes today up about 9% but halliburton fell nearly 11%. >>> another deal is also making headlines today. pfizer is teaming up with merck to develop a drug to treat cancerous tumors. pfizer will pay merck $850 million up front for a percentage of sales. the drugmaker also lowered its 2014 outlook in part. >>> yet another possible merger that was reportedly in the discussion stage last week h

valiant would rather by allergan .tructive deal to buy a power dan because there is more synergy. generatingth cash businesses. they would have to take on more debt to buy one than the other. we are throwing a new name in the mix, herbalife? free advice for you if you are watching. >> thank you for breaking it down. olivia sterns on the latest. the end of quantitative easing is going to play out around the globe. >> a chance for the democrats or is it a big waste of time? ♪ >> welcome back. the final chapter of quantitative easing has yet to be written. broadly speaking, it has been a success. no inflation here in the united states and it rescued the economy and financial markets. to raised gets ready rates, what will the next chapter mean in the united states and abroad? as you look into the economy, what do you see. >> the fed is contemplating a change with respect to monetary policy. most particularly, in fixed income, we have seen it in the corporate bond market. >> when that happens, how are the last few chapters

and i'm sure that's thanks in some part to allergan here.ther interesting thing apparently those shares are available to u.s. investors in europe as of today and they're up just a hair. >> the litigation going on between allergan and pershing square and valeant against the other guys. my guess they end up dropping litigation on both sides and take a walk and see what's next. >> could happen. i think we'll see the strategy out of him again in the near future. >> speaking of what's next, bring in mark, the senior managing director for evercorp isi's health care research team. welcome back. >> thanks for having me. >> i know you don't cover the specific parties involved actavis allergan or valeant, what does that deal do to the universe you cover and zoeetis is one of them which ackman has a big position. some are wondering whether it is next. >> yeah. it's interesting, so, you know, the press reported that pfizer perhaps was interested in actavis. one when ders now that actavis has its arms wrapped around allergan whether if, indeed, that pres

allergan was firing on all cylinders and people were doing a great job at allergan to make sure theysiness objectives. we had one of the best quarters we have ever had. we grew 83% third quarter. we have a business that is really growing, really strong, great diversity and longevity, and what happened here, this is a company that should not have them for sale. it is one of the best performing companies in our industry. when we had an opportunity to create something truly special and put these companies see other, we acted -- we had to act on it. it is a testament to the fact about -- our future is so strong together. >> who else did you talk to during the process? there's a lot of speculation. who did you talk to? >> we never comment on rumors. maybe there will be a statute of limitation. movie. >> that is right. versionthe modern day of five variants at the gate. this is what it sounded like. >> it was close to seven months. i have been ceo for a long time. this was always an attractive company. were waves of rumors in the past dozen years of different companies that might have been

allergan has been fending off hostile takeover bids.alley and appears to be throwing in the tell and it says it cannot justify to a chair holders paying a price of $219 or more per share. the biggest takeover of the u.s. energy company is four years halliburton which has agreed to buy baker hughes for 35 $.6 billion. these are the second and third largest oil service operators. together, they will dominate the u.s. market for onshore fracking and the combined company will be little more than half the size of slumber j sash schlumberger. intoeconomy slipped recession in the japanese based on a sales tax hike. . here is martin schultz >> we were hoping for about two percent annualized growth during the fall quarter which would have been very important to show the economy is not just bottoming out after the sales tax hike in april but also growing strongly already. this negative number is true -- is clearly a disappointment and shows the economy takes much longer to recover than we were hoping for. >> with the economy in reverse, abe is no

and it's made with ibm. >>> activists are reporting a near deal to buy allergan. activists could pay between $215 and $220 a share. news could be announced today. this comes ahead of the special shareholders meet iing at allern that is up 8% in trade. valeant is flat. >>> and merger talks between the oil services firms have stalled. on friday the initial offer from halliburton was rejected after making a counter offer. reports say the companies have failed to agree on price and other issues on how to address anti-trust concerns. we'll look at shares here to be one of the reasons we saw the energy numbers come up slightly. halliburton is up 1.2%. >>> "shrek" may not be joining the forces with "transformers" after all. the talks between dreamworks and hasbro have fall up apart. dreamworks wants $35 a share. dreamworks is off consistently at 15%. hasbr sorks off 1.%. >> we are seeing the reverse on the gapes last week on the speculation of a deal. another stock in focus, the chairman of the troubled italian bank says there have been no approaches from any other lende

with this $219 bid from the ceo of allergan has accomplished all of those things for shareholders. a remarkable job of creating wealth out of franchise, one growing with some blockbusters in the pipeline. he spent endless amounts to create new uses for his wonder drug botox, one well beyond removing wrinkles including a remarkable migraine drug that cuts the amount of time people suffer from migraine drugs. he's been able to come up with these new uses because allergan spends more money on research and development as a percentage of the sales than any other major pharmaceutical company, which should be a reminder, by the way, that spending rnd is a sure fire way to develop new drugs rather than coming up with line extensions designed to keep a drug from going off patent which is sadly the tired mo. not only did he do much to help shareholders and smart spending but he's been an incredible advocate for those who own the stock and those thinking about owning the stock. when allergan fell to the mid 80s last year, one of the most frequent guests came on this show and said point blank

it would have outlook and -- allergan. ating up, a closer look activis and allergan. we'll have a wide ranging conversation with a policymaker , andwas big about g-20 much, much more. state-owned. ♪ >> welcome back to "the pulse." time for company news. the chairman of a company said the bank needs to wait merger scenarios of other lenders. he said no one has submitted a merger proposal so far. a gapseeking to plug uncovered by european central bank stress test. deal tok has reached a begin selling mobile services to its customers in britain according to people familiar with the matter. an official announcement is planned as early as this week. sports director is looking to acquire all 50 l.a. fitness gyms afterwards put up or so last week. according to the sunday express. the sports retailer already -- and50 and eggplants plans to expand to 200 sites. to one of the most contentious takeover battles, we go be close to having a winner for botox as it tries to, fight off a hostile bid. joining us caroline hyde. a deal with activis could change everything. >> the fight a

did say allergan is a premier franchise, would love to be a part of it.ould say that about ten companies. >> there's the opening bell. a look at the s&p at the top of your screen. nevro celebrated its ipo today. at the nasdaq, the bob woodruff foundation helping injured /11 injured service members when they returned home. qualcomm will be the big loser of the morning. $1.26. does miss by a nickel. >> that was a tough conference call. sierra wireless said things were very good. i don't want anyone drawing conclusions that cell phones are weak because of qualcomm. qualcomm is the case of a monopoly that governments around the world want to investigate. it's not even clear chinese are stealing, appropriating. this is out of qualcomm's hands. >> zillow is down 8%. ftc asking a second time for information on the trulia merger. they beat by a nickel. average monthly years up 41. mobile up 70. >> at the same time there was weakness in display ads from financial service companies. i spoke with spencer rascroft. >> he's on at 11:00 a.m. >> one of the things that d

more on this whole allergan actavis deal.out with comments now saying they cannot justify the price. at the breaking news desk with more on this. >> that is right. breaking news valiant. they are chiming in to the conversation officially saying the price of $19 or more for -- per share is not something they were willing to pay off. let me read you a statement from the ceo, they said the senior announcements allergan had made, and while we review any decision in course of action, allergan cannot justify to its shareholders paying that steep price. theorming really well in third quarter. they're optimistic about two thousand 15 as well as a robust fourth quarter. they are confident in their continued ability to generate exceptional shareholder value. it looksmenting that like, based on what i am reading here, that it comes down to price. i know valley into did want to eant did this -- val want to get into this. >> valeant shares are slightly up after all of this news. we will have much more straight ahead on "in the loop." ♪ >>

activists won the bidding war to buy allergan. by the deal, its key orchestrator's as well. they will be joining betty liu later. >> one week since the deal was announced, the $66 billion earthquake in the pharma wor ld you wonder whether the ceos of feltgan and actavis pressure given all the mergers we saw in the pharmaceutical industry. they are speaking out, the and billth valeant ackman. so many tension points to getting the deal done. it is not over. they got to go through the regulators and look at how many additional jobs are going to be cut. they've got to look at merging these two units and what are the big issues ahead. you --s grisantit chris grisanti, you do not own either of these. >> the republican held congress might help if we get a deal on tax. al strikes me as an 11th hour deal. i would be curious to ask did you cross the t's and dot the i's, what was left out. >> all this talk that allergan was shopping itself to sanofi and others. did they feel that they were doing everything to avoid being bought by valeant. >

allergan spends a fortune and they got together and they are not cutting the r&d budget that much. >> a lot less than what would have been cut with valeant. >> i think it's very easy to be negative. the average is pretty good. >>> speaking of synergies, halliburton chairman and ceo will visit us post nine discuss his company's $39 billion acquisition of baker hughes. ♪ there's confidence... then there's trusting your vehicle maintenance to ford service confidence. our expertise, technology, and high quality parts means your peace of mind. it's no wonder last year we sold over three million tires. and during the big tire event, get up to $140 in mail-in rebates on four select tires. ♪ >>> blackstone reached a deal to sell a manhattan office tower for $2.25 billion. sold to a venture led by a canadian property investor ivanhoe. it would be the second largest sale of a u.s. office building in u.s. history. what i find interesting here is blackstone, perhaps one of the savviest buyers and selling of real estate have been doing quite a bit in the u.s. of late. there is no doubt they've bee

let's talk a little allergan.t to get to a guest on "mad money" later tonight you're not going to want to miss. yesterday we got that ruling from the court in california where allergan allerghad been t to keep bill ackman from voting at the meeting. the judge did not rule that ackman cannot vote those shares. in a way, a loss for allergan. though, it did in some ways succeed in getting the judge to say, this raises serious questions. raises the idea of a choice of remedy there that could reveal itself in the form of serious monetary damages to mr. ackman who said you took our shares knowing a lot more than we did at that time. while allergan is going to appeal the ruling and while they're hoping perhaps the s.e.c. will choose to step in, that seems to be something of a long shot between now and certainly december 18th. so one might be forgiven for asking, well, if they're going to have the meeting, is it time for allergan to start to move into sales mode? people saying not so fast. they still seem to be saying the

do allergan shareholders win either way. >> what can actavis pay?up to $2.05 and $2.10 and still do well. >> let's get to rick santelli in chicago. >> good morning. the market always has an opinion on every number. it's objective in many ways. we had a good number. over 200,000 again. especially after revisions to a couple of months ago which came in slightly under 150. as you look at the intraday, it is clear that the market moved lower in yields, which is associated with a miss. as a matter of fact, as we sit at 2.34, we are now down four since the number. we were 2.48 before the number. down five basis points on the day. we settle at 2.39. we are unchanged on the week. we settle 2.34. as you look at the chart going back to october, you can clearly see that we seem to be turning a bit. kind of the run-up to the employment where rates rise. culminated in exactly a one-month high yield. year-to-date down 70 basis points. that's a big number. bund yields. same thing. they moved a bit lower. dax? it moved on our numbers at 8:30 eastern. euro versus th

this is kind of like allergan. everybody ends up making a lot of money with allergan.oetis go higher? i think zoetis at 44 -- let's just say i had them in the mid-30s and not much happened fundamentally. >> that's a big story today. at&t made some comments this morning. pausing their investment in 100 cities on fiber because no one now knows what's going to happen. >> the president came out and said he favors net neutrality. this is something that would make is to perhaps you don't know whether you're going to be able to recoup the money you spend on equipment. these companies spend fortunes on this cysco. this is going to put -- there has been a sense that the equipment sector is not the place to be. alcatel just had a very positive analyst meeting. so there's some hot money in the group. maybe it pulls back. this is a very curious story. you know what? you don't pause spending. you have this directv. maybe you blow it out. i want to find out more about it. but stephenson is a hot-button guy. this kind of statement basically says, we're not going to put as many people

allergan thinks that is grossly inadequate.alternate deal. >> had you keep all of this straight? >> this will be pitched as a much more constructive merger. >> number one, the corporate world is focused on elon musk and tesla motors. the most active stock in the premarket. surge inicted a orders. this is actually kind of a mixed report. investors ignore the bad news. they are not able to meet the demand and they are not going to hit the sales target. -- pays hard to say attention to all that when they are going to grow at 50% per year. >> it is like elon musk can't do any wrong. >> i feel a lot of people on wall street have it in for elon musk. they want to see him fall. but they like a winner. i spent like a half hour in a banker -- with a banker in a tesla. >> i had the privilege of being able to sit in that. it is really fast. trade, big ont to real estate. the opening ofaw one world trade center, one of the most controversial real estate projects in new york history. media giant condÉ nast moved into its new headquarters. w

and in other deal news, ackman and valeant for allergan.med up to make an unsolicited mark last spring. it has been a bitter mating dance since that time, but as andrew pointed out, valeant and ackman look to win anyway. they're going to be splitting the profits. >>> also we should point out open enrollment is underway. health and human services says there were more than 100,000 applications on the first day of open enrollment. but today not free from issues. brokers in various states had difficulties logging into and setting up accounts. washington state had to take its website offline. government funding for research facing pressure in washington. so michael millican is holding a conference in new york working to bring them together. meg tirrell joins us from there. >> reporter: we're here at milken's conference where they're bringing stake holders together to try to accelerate research to bring medicines to people to help them now. mike milken known for the work he's done in prostate cancer. but the goal is to translate that into other d

and maybe now if valeant wasn't going to get allergan it would sight on zoetis. people were waiting to hear what he thought of the transaction and what e may do. there is litigation on both sides. my guess is that whole thing is going to go away. but it is good to get clarity at least what he thinks about this deal and, you know, maybe where he's going to put his stock in this combined company in the future and sounds like he plans to be around for a while after this meeting on friday. so that is what we have from here. guys, i will be back tomorrow. don't try any funny stuff. melissa runs a tight ship. no non sense. >> i'm not going to let them get away anything scott. believe you me. scott wapner with exclusive comments from bill ackman. >> coming up the ceo of toyota reveals the plan for a new fuel cell model. can they replicate the prius success? and it's $114 question, alibaba and apple costs just about the same right now. which is the better buy? we've got a debate lined up. but first a deep freeze. how to play the buckets of snow head hag for much of the c

allergan's lawyers saying they will appeal.hares are up by over a percent. >> valeant shares up by about half a percent on the trade so far. >> dom thanks so much. anybody have a comment about the herbalife earnings. second straight miss. stock is down big. worst day in five years. >> listen, good interview. you raked him over the coals and there are some credibility questions there. the one question i have though. and maybe you will answer it. these are still earnings. the company still had some growth. in terms of the pyramid scheme and air coming out of a balloon, i'm not sure that is going to happen. i don't want to own the stock. but do you still think this is a pyramid question? >> i'm not going to answer that question. it is not my job. and i don't know. that's for the regulators to figure out. so i'm going to dodge that one. and in terms of raking him over the coals, i just and the questions investors want to know today. that's you will. >> great questions. the one thing i would say is when you are look at the stock rig

allergan trying to take over by valiant shares off marginally. >> rcs capital dropping the bid to buy coal capital partners a week after american realty capital announced ceo and results were not reliable. >>> an offer to buy sapient and lab corp striking a deal to by covance helping to move into the contract research business. >>> a big day for the big apple. more than 13 years after the 9/11 attack the rebuilt world trade center is opening for business today. the publishing giant is starting to move into 1 world trade center. 104 stories, $3.9 billion and it's the tallest skyscraper in america. despite an improving job market and low interest rates the number of first time home buyers is now at the lowest level in three decades. >> reporter: for some it is sticker shock in the for sale market. for others renting is now a choice. so the share of first time buyers dropped to 33% down from 38% a year ago according to the annual profile of home buyers released this morning and that is the lowest level in nearly 30 years. the long term average goes back to 1981 and shows four out of ten

the first activist agrees to pay $66,000 for the botox maker allergan. it ends the takeover battle.ther big deal involves the oil services giant halliburton. halliburton will pay more than $34 billion for baker hughes. it is the biggest takeover of a u.s. energy company in three years. japanese prime minister shinzo abe has had better days. the japanese economy is back in recession. it is the fourth

baker hughes, allergan, the top gainers on the s&p.in there, kayla, as reports come out talks with dreamworks have cooled and questions remain who will interested in that business if anybody. >> interesting how much investors like hasbro without dreamworks. that stock up nearly 5% in the day. up 4.5% right now. that would only be about a $2.5 billion deal. they would like has bore without it and the shareholders voting with dollars today. >> make it sound like only $2.5 billion. we didn't have a billion dollar deal for a long time. >> it's incredible. $100 billion deal day. >> s&p capital wrote this morning that tech, as a sector, is only ranked fifth in m&a behind consumer discretionary, energy, health care and financials which is amazing. let's get over to the judge as he takes over the half. >>> all right. carl, thanks very much. welcome to the "halftime" show. starting lineup for today, josh brown is the ceo of ridholtz wealth management. joe ter nova, director at ver tis investment partners, stevewise managing partner of short hil

the latest is acta vis is going to buy allergan for $66 billion. autos still struggling a bit.ecall has to be a big part of that. >> this is really interesting, steve. nielson, the company that monitors ratings for tv is going to start measuring tv shows and online impact of what cordless viewers are doing for watching, especially the streaming services like netflix. >> this is all about sbod, another great acronym, subscription video on demand. the guys who invest millions and millions in getting big stars like kevin spacey into the shows, "house of cards," what i'm plowing through myself, they can't monitor how many eyeballs are watching or what the viewership s. now it looks like they've got a new technique, looking at the audio component. they can monitor the audio part of the streaming and monitor a little better how many people are watching the shows. that had big, big ramifications for the advertising marnth as you and i well know. >> didn't we steel "house of cards" from the british? >> yes, you did. the executive producer on the show is michael dobbs, and he wrote this

activists will pay $66 billion for allergan. activists will pay $219 per share in cash and stock. the offer includes a higher percentage of cash than valium's bid. valium says they will not try to actavis' offer. just days after talks between the two had stalled and halliburton had prepared to go hostile with its takeover bid. spoke with halliburton cfo by phone earlier. demo we are very well advised. -- >> we are very well advised. we will now start working with the regulatory authorities. at the end of the day we would not have done this deal if we did not believe it was achievable from a regulatory standpoint. >> the combined energy company would generate slightly larger revenue than the world's biggest oil services company. obama has returned from an asia-pacific swing and is facing the possibility of another government shutdown over immigration and the senate to vote on the keystone xl pipeline. there is not much economic benefit in this bill for anybody in the united states. there is not even an ounce of the united states going into this pipeline. the oil is not going to sta

>> clients range from fortune 500's like allergan, i'd go -- , nonprofits like planned parenthood, the information technology council. we have a number of more medium-sized enterprises and law firms on the platform as well. but the democratic governors association, the republican governors association as well. >> both their research and policy steps use our platform. >> we're joined by tim, from "the hill." >> you talked about having a hard time understanding what is happening in government, following government. you think that is changing if you are a nonprofit or a medium-sized corporation, not just because of things like fiscalnote, but the openness of the internet? is it easier to follow what is happening? >> unfortunately not. a couple of different factors play them. first, the complexity of government has exponentially increased in the past couple of years, not just at the federal level, but at state and local levels. i think what is even more interesting is that as our continues to globalize, companies are not just interested domestically, but internationally. or policya legal t

in fact, we just heard from another one earlier this week in the allergan deal.as brent saunders that ran forest labs when activists took over. saunders was an icon selection. now he will lead that combined company. there's the chesapeake ceo. carl icon himself says believe hertz hired an excellent ceo. urges companies to read the press release which you heard from here first is out. but there's a shot of mr. tague. it is an interesting choice and as i said perhaps most interestingly it now sets up perhaps some what of a tussle between icon who has an 8.5% stake. and just filed that amended 13-d yesterday saying that if preferred scott thompson to be the ceo. he is a veteran of the car business. perhaps that's why the folks preferred him. carl icon says this is the right guy to take the top job at hertz and try to turn the company around. the company has had a number of problems. avis out performed that stock over a long period of time. hertz has its man. his name is john tague. >> scott just a question here. they may be changing the leadership of this company bu

>> allergan which is going through the merger now, looks like they will take a bit of profit out, but most of that sector has done well this year so there are profits to be taken and the areas where you would look have likes but some of those areas like energy materials and some of them are seeing a lot of downside in earnings. brave, but ine the middle of somewhere is the financial sector and within the financial sector you can find value, you can find earning see aization and you can part of shareholder returns as dividends begin to come back into being again. clearly you have to be careful risk,specific litigation but it is a very diverse sector which means you don't need to take a lot of fiscal risk. >> here is a stock on the move this morning, the airliner showing full-year earnings growth of more than 20%. we will bring in the comments from ceo carolyn mccall. you see the stock down board -- down by 1.3% this morning. and king tells us why david cameron is right to be worried about growth and more currency wars. back in two. ♪ >> welcome back to "on the move ." streaming online,

. >> the deal comes after allergan rejected and offer from valeant pharmaceuticals and activist investor bill ackman. the client and auto manufacturing come utilities and mining drag down overall industrial production in the united states last month stop it drop surprising many economists. u.s. manufacturing is seen as key to the world economy, especially with today's news that japan has slipped back into a recession. startup hampton creek is not backing down from unilever, which is suing the start up over its eggless product. claims that the word mayo is misleading. from the ceo.nse >> we never started the dam thing to be an alternative or substitute. we started it to be right there in the honda meant i'll are cookie aisle when we do that with everyone else. we think that's how i did big wins. >> he says hamden creek is signing to countersue unilever. er and spotify strike a deal subscribe too spotify premium will be able or tracks -- play their no comment after taylor swift pulled her content from spotify. now to our lead in the workplace. some companies even block employee access, but

sure it ended well for allergan i now see ackman pressuring juan ramon alike. the guy -- the ceo -- he's done a fabulous job at sowetis. okay, fine, how can a hedge fund be happen with the 36% run? there are some you should be banging the appreciate of on pepsico -- these analysts, even if she's delivered a 19% return, as wet a katy perry in the super bowl. i think pelts is terrific. hey, how about coca-cola? they're only up 12%. get something going there, maybe? you could argue that all is fair in business and world. you could say they make tons of money to take care of themselves, but i think the kind of smear campaign that loeb waged is wrong. the new m.o. is to pick on winners when they know they'll get what they want. let me give you the bottom line. ceos who work hard to create value and are doing so deserve better than to be hit with smear videos so some hedge fund can getting a slightly better negotiating position. it seems wrong to me. i expect better from grownup managers, but it looks like a pipe dream from this bunch. what a shame. >>> there's much

they watched the show and said, you have to ask him, he can't create as much value if he buys allergan. >> we'd only do it for long-term shareholder assets. if you believe the country will do corporate tax reform, declining value. the key to creating value in our industry is buying things that are creative to the top line, that have long pattern lives, good pipeline. we believe in investing in low risk r&d. >> it would seem the botox franchise, which you know, would be incredibly additive. if it could be, would you be willing to go friendly and not hosti hostile? if david piot says he likes you guys better, would you consider it? >> i respect david, and allergen is a gem. >> it doubled. >> it's a great company, without we. we won't do any hostile bids. it's not who we are. we are about value creation, back to the theme. hou hostile deals don't create value. people matter. >> the most recent ones were small, under the radar deals that, to me, seemed to be pipeline oriented for the next three years. >> yeah. furiax, which we closed on, we got a drug for irritable bowel syndrome. we alrea

they're working on the deal with maker of botox, allergan.lian, on track of the deal with covidien on track. up 3.7%. discovery communications up 3% as well. urban outfitters on the other hand faces severe competition. ceo says later quarter was disappointing. stock is down 9%. home depot, the number one dow loser under pressure after their latest quarter. the stock is down 2 1/2%. ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,... you can get hives, vision changes or eye pain, or problems pass other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe

he pushed hard for valiant pharmaceuticals to buy allergan, that's the maker of botox, but today it agreed to sell itself to activist for $66 billion, stymying ackman's plans. that raises the price of ackman's shares, though, to 28.9 million shares. that's hard to follow, know this: bill ackman's private equity firm made around $2.6 billion that on the nixed deal that he pushed for. right now shares are all higher, we're watching all the major indices in this vital final hour of trade. let's start the "countdown." ♪ ♪ liz: good afternoon, everybody. as i mentioned, the dow and the s&p are either hovering or at record numbers at this hour. i'm looking at the dow jones industrials, here's the record for the moment, 17,652. we've been above that today. at this hour what might surprise some investors after stunning news out of japan is that we're higher. japan now in recession, clocking a contraction of its economy, and this was a surprise. contracting 1.6%. so why are our markets unfazed, and what is the investment play? let's get right to the floor show, traders at the new york stock exchang

they insist the allergans to be on their own, while the new mission is to help when needed.ennifer glass al jazeera. >> you know the number of people monitored in new york city for possible exposure to ebola has more than doubled. 357 are now under watch. most arrived recently from west africa. spencer contracted thes and. he has been in isolation since october 23rd. federal officials have shut down silk road 2.0, is say it's moundser a flight risk. reportedly confessed to running the illegal, untraceable black market website. the fbi estimated more than $100,000 bought and sold drugs on the site. tom ackerman has more. >> and that in fact, this was a continuation of 1.0. the defendant in the trial in that case is currently on trial in new york. he is contending that the government i legally searched his emails and also seized the servers in iceland, which was the means by which this business was conducted. a judge in that case can, says she is not going to suppress that evidence, because the defend r defendant in the original case can says that he denies any knowledge of th

allergan is trying to head off a hostile takeover. back over to you guys. >> all right.ank you very much. >>> let's talk about gambling. big business in this country. atlantic city, may be in shambles recently with the closeful of a handful of casinos. boydgaming is a bright spot. their atlantic-city based casino saw the quarterly revenue rise become 5% year over year. >> with more is ceo keith smith. welcome. >> thanks. thanks for having me on your show. >> you bet. >> we learned from the other casino operator that is las vegas is having a pretty good year. atlantic city is hit hard. what is the future for the borgata? >> it's a bright future. number one property in the market since we opened. and clearly, atlantic city is going through a transition with some properties closing but i think we have a bright future. >> i mean, i've been on the east coast now 23 years and atlantic city's been suffering, such a boom and bust cycle. you know? casinos have come and gone there. do you ever foresee a time to see actual stability in atlantic city? >> well, sure. i think if you t

activist, they're working with allergan, the botox maker at a new all-time high.uick glimpse. this is going to be the new section. they took down at least one of our list. we'll be bringing you the new part sooner than later. liz: listen, evolving as we speak. thank you very much. we're watching the stocks every second here. and we're in record territory with just about 20 minutes to go. as the holiday season rapidly approaches and the families across the country gear up for the holiday. greeting cards and gifts for shutterfly, this is truly the most wonderful time of the year. so to speak. shutterfly makes nearly 50 percent of its yearly revenue right now, during the holiday season. while the stock is down 17 percent since the beginning of the year, this may be the time to snatch up the stock before it takes o on good holiday earnings. here with me to show us the new stuff you have is ceo president jeffrey. wonderful to see you again. i am holding in my hand one of your holiday cards. i'm putting it up against a file so you can see there is a dye cut here with th

valeant, you have to believe management will also not let themselves fall in feeling a need to do the allergan deal or they only will do it at the appropriate evaluation. and when you look at the growth opportunities i thiy ies i stil there is a big opportunity. >> do you think it happens? >> the way i've set it up is that either way i'll be happy. >> what are you doing now gh your own big picture vu view of things. you are an investor in juice press. on that side of the health food movement and then you own the rights to all of the dunkin' donuts franchises in austin texas, is that right. >> yes thart. >> how does that mix. >> i started out as the hedge fund manager. you kind of hedge your bets and it is quite funny from when the companies do well, they are actually excite complementary. but it was not a purposeful strategy. in reality i pride myself on investing is thinking laterally and the opportunity in dunkin' donuts came from the fact that du dun kin is a great franchise. and in other words the payback might be three years on a store. but if you buy the stock you have to pay over 20 tim

i had to say it really did seem that allergan management was not doing right by their shareholders andt the end of the day they were. this was a bigger deal than they would have gotten elsewhere and kudos to them. it's a very, very large deal. it still leaves players in the musical chairs game. >> they hooked up with each other. >> absolutely. >> what's a love hexagon -- i probably shouldn't ask this question. >> you were there. >> love hexagon. >> there's six players. so there's six sides. next up two of the world's largest oil services fine are hooking up. halliburton going to acquire baker hughes. they expect to close the transaction in the second half of the year and guy you always think well who's next. >> who's next. great album by the way. i know you're not familiar with it but when the news came out that the deal was done we said not so fast will cowboy where there's smoke there's fire. here's the fire today. who's next? i don't know. but you know who needs to do something now? general electric has gotten themselves away from all the nonsense they were involved in for years. ge

david: two corporate deals announced with halliburton buying baker hughes and act day voice buying allerganliz: we brought someone in to identify the next big takeover targets. hilary kramer. you have a great track record here. talk about how you do it. ask you to reveal the potential takeover targets. >> i screen for companies with great cash flow, healthy balance sheets and unique growth area a bigger player might want financial or strategic, i want to look at one. by the way we're looking at several here. st. jude medical. we hear about it from time to time. what about a company company like that makes you think where it could be going. >> cardiac device what is st. jude specializes in. medtronics, right over the river in minneapolis st. paul, they could develop synergies because insurance reimbursements as we know continue to drop. so the competition is -- david: medical tax as well for obamacare. that is one thing that democrats and republicans seem to agree on. >> right. so very important that these companies shore up now and figure out ways to find synergies. it could be acquired by

modest games in allergan and air products helped offset losses in howard hughes and gains in herbalife a stock he is short. meanwhile, ackman's own shares about flat since their debut on an amsterdam exchange in mid-october. see if there's more action. that opens for u.s. trading in a few weeks here. i mean, in other words, u.s. investors can get into it within a few weeks. >> you want to comment as our resident -- >> yeah, i do. first of all, i disagree with the premise. not an increased risk. there's increased risk with some strategies in hedge funds as with long only managers and private equity. i think you have to throw that out. that's factually not true. in terms of -- >> other than that what have you, steve? >> investing in stocks will be the same risk across the board. you will see hedge fund managers get into more thinly traded products whether sovereign bonds or other credit products. >> depends on the hedge fund you're into. >> of course it does. >> long only -- >> i would say the average hedge fund has a higher risk profile in terms of leverage and possibly -- >> we have to

playing a huge premium for allergan, which is widely acknowledged as being way too expensive. this is a $66 billion with a lot of stock involved, so you would there would be at least some pressure on activist, given that massive issuance. no? heaven knows there's been a lot written about how the moniker of merger monday so richly deserved it after $100 billion in deals yesterday. could be an astounding bid by the second largest company, halliburton, has to signal some sort of top, doesn't it? doesn't it? you just don't get such dramatic overpays versus where stocks were a short time ago without wondering about the wisdom of these deals and the expensive nature of the stock market. "the new york times" put the skepticism best when it wrote, yet, there are some dark corners in the dazzling successes of wall street's deal makers. even as companies spend on mergers and acquisitions, they are not spending on other areas. moreover, whether mergers are even positive for the economy, and for the company striking them remains a subject of debate. but activist has now rallied an amazing

they have in the last five years you would think take-out prices would be lower premiums, but with allergan were huge premiums, even after big moves and the stocks. i think investors are undervaluing the enterprise value of some of these public companies. i think that is positive for the market overall. >> i am not sure if m&a, or the takeovers are a correct benchmark of what the true values are of these companies, right? there are so many other factors. >> there are many factors, but if the asset in someone else's hands is worth that much, that is what investors have to consider because m&a will do nothing but pick up. >> that means to you that the markets are headed to a further rally. >> you can make a strong case equities remain undervalued. >> you had some ideas in an e-mail, one, mastercard. only 13% of global transactions are done on cards. the deal room to grow. -- plenty of room to grow. phone-based systems growing in india and africa. how are you confident that credit cards are the answer for the rest of developed world? >> when i talk about a card, i talked about an electronic fo

in the end, a lot growth of allergan is so great a pfizer should have looked at it. >> how about homent on in retailing? >> some say it was a penny missed. some say they did a sale of home depot supply. i like the comps. some were saying the comps weren't that good. this comes in, tjx, macy's downgrade. you want to, if you're listening to professor segal, this is where you want to buy because of gasoline and employment. that's so these stocks are buys, not sells. >> almost at an all-time high and down a little bit today. it's tough to interpret why. >> exactly. this stock had a monster move. stocks that run up have been selling off. >> all right, jim. >> thank you. >> i didn't bring up aaron rodgers or anything. >> no. the bye week. >> what about sanchez? are you okay with that? >> you know, he looked like a backup quarterback. >> when he keeps getting, if he doesn't have any protection, so to speak, he looks like it starts affecting him. it can look good if he is not ready to just get hammered. he got hit hard a couple of times early on. >> some guys just don't take a hit. some guys

. >> we have allergan in the m&a world.ral reserve set to raise interest rates sometime this year, -- getting a deal done? >> no. is the question of whether companies will have as low a i'm nancy available as now. interest rates are going up for quite some time. >> they will stay persistently low. that will continue to support m&a. let's get to the agenda. on my agenda, retail earnings. we mentioned dollar tree and best buy. cap will report after the close as well as gamestop. a lot of questions as to what kind of outlook they anticipate. >> i agree. >> it is where tom gets his basic things. >> but there it is, a pop-up store on fifth avenue. >> you get your white the next -- v-necks. he missed the trend years ago. >> i think joe biden gets a bad rap as a politician. he makes everybody laugh and he remember his everybody's names. he is going to turkey, he will , so it is always interesting to see what he can quietly get out of meetings. >> he is a throwback. you wonder what he and others of his generation will think of exec

allergan and activists team up to fend off a takeover. then it is a super bowl for walmart. making the most of black friday and every day of holiday shopping. today's innovation story, meet the company and the technology that helped a blind man

a federal judge rejected allergan's request that ackerman be locked from voting. shareholder. a record year for mutual fund in the u.s.. vanguard attracted more investors in this year than -- than they've ever brought in over a full year. meanwhile, bill gross's departure from pimco has brought a record number of redemptions. million from the total return fund. half of those occurred in the first five trading days of october. those are your top headlines. >> i believe it was monday you saw full ad for pimco, i will say in the ft -- i can our member where. in the same part of the paper, a full ad for mr. gross and janice -- janis. >> i would suggest bill gross would tell you that is true, but overweighted. i think the asset size is valid, but overweighted. himhe numbers prevented from being able to actually maximize his return. >> the performance of large numbers is definitely there. but in terms of leading in and out. but i think of bill gross less as an investor and more of -- >> i think of bill gross less as an investor and more of a shakespearean character. --

and pyatte at allergan. >> the targets out there are extreme extremely strong and the markets respond ped positively. the 2013 earnings target. stock moved up and so has the multiple and pressure to make sure they can deliver. >> multiple should go up. they did all the things you want. it would have been amazing if for all the good things they do murdoch swoops in at the inflection moment. >> i still believe in a couple of years it will happen. >> really? >> i think there needs to be consolidation amongst the programmers. i believe it will be part of that. who it's with? i don't think we can say. >> apple, $119.20. close to its $1 billion market cap. it doubled since tim cook took over. targets were $110. >> i think it's going to be an apple holiday. remember we talked about tiffany. apple is a tiffany product. you are going to find their pcs are selling well. you'll see they've got another story with the watch. remember the watch came out kind of and people panned the watch? i think the iphone 6. take a look at sum sung. all we read about now, are they going to get rid of people? app