but that's with altera.ark: what does this mean in terms of how the chipmakers and tech companies feel about their growth prospects going forward. do they have the merge to get to growth? if you're going on the bullish, bearish sentiments, it's bearish. they have these huge cast piles -- cash piles, but they have been unable to break into the markets where altera has been. to really achieve significant revenue growth, they will have to buy that revenue growth. they will get earnings growth as well. they are paying a lot to get that. ist's interesting to me there are synergies here. they think that altera design chips on the same platform as an intel chip might lead to something altogether new. they talked about that in the press release, about new products using altera technology to essentially goose these chips coming from intel to get even better performance. those things designed together on the same wave length could lead to an entirely new kind of chip and a much better performance for all kinds of devi

in tell is indeed buying altera. all-cash transaction is valued a little bit of what had been talked about. $15 billion has been talked about in recent days. intel says it will to adjusted earnings in the first year after it closes not clear when it will close. intel will be funding the deal with cash and debt. the big tip deal last week may be putting more pressure on intel to make a move. the companies have been taught for months to get this done. there is a benefit to scale in the industry. that is what intel is looking for. erik: after the deal last week i cannot believe all tara -- altera closed at what it did last week. they could not come to terms there was a site even on friday the deal would get done. whoever owns altera is making a boatload of dellough. julie: they may have still been a level of skepticism. stephanie: thank you to julie and joe. joe, we have not seen you in ages. erik: when we come back, olive garden undergoing an historic transformation. they are taking the show on the road. the new journe

scarlet: intel has agreed to by to buy altera. it represents a 56 premium over altera's closing price on march what he sixth before the speculation began. guesttel ceo will be our on the bloomberg market day at 4:00 p.m. eastern time. you don't want to miss that conversation. global management is buying a chemical maker and will take it private. it's more than 20% more than their closing share price. scarlet: a merger in the health insurance industry could be in the works. humana is said to be considering a sale when they were approached by cigna. the combined company would be biggest medicare advantage insurer and could be the leading company for medicare part the drug coverage. alix: americans made more money in april and save their wage gains rather than spending them. consumerort says purchases unexpectedly stalled while personal income grew more than expected. household spending accounts for almost 70% of the economy, so for the economy to grow, spending has to pick up. scarlet: manufacturing in the u.s. grew more than foreca

altera, we do have some synergies, altera's head counts, it will be less over time than what altera islone. but altera will be a net add to the company. it won't be net zero at the end. >> when you look at altera's overall workforce in the u.s. intel's overall workforce in the u.s. once you balance out all those things, are you going to be growing over the next year? are you going to be hiring over the next year into those areas, those cuts aside? assuming that you know, again, we're right now arm's length with altera, assuming it goes through. assuming it closes and the regulatory approval, then it would be an add to intel and we will continue to hire with attrition and things like that. there will be some growth as well in the engineering areas, especially as we look to make products jointly together. >> how does the global economy look to you right now? lots of hope for the second half with the products that you've got coming up. that we talked about last hour. but how do things look overall. still some uncertainty in europe. you were just, you had folks over in asia. what do you th

asp it offered altera cash and it was rejected. shareholder base and some of the long-term shareholders as well made it clear to management that they were not ahead with the decision to break off talks, and they felt the price of $54 a share they would be happy to accept from intel. altera did resume those talks, largely avoiding the advisories on sets side and they were able to hammer out an agreement at exactly the same program, perhaps not that much of a surprise for many investors who did at least have the added weapon if you will of being ability to and by written concept 121 days after the company's annual meeting, at least a threat to potential replace the board of directors if it did not reengage with intel. it did, of course and an aggressive move and the relatively new ceo, paying a 56% premium, what's called the undisturbed stock price that it believes of the multiple 23 years w0r9 the company's ebit dad over the last 12 months. that certainly is a number that got the attention of system members many telling me we don't

we don't like the acquisition of altera, we don't see the opportunity.don't like the valuation, we're stlugling with how the deal will add value. we're disappointed with the lack of details on that front. do you like anything about this deal? >> no. not at all. and we, those folks who have follow research know that we don't hold anything back. when we're positive, we're very positive. we have a lot of conviction on our calls and so typically we don't have a lot of buy-rated names and intel happened to be one of those. but we downgraded this morning. i'll tell you what i don't like. starting at the top. the opportunity we don't agree with intel. that the opportunity is as big as intel is talking about. we don't concur with intel on the growth rate for altera, this company hasad negative kegger of 2% for the last three years. in the midst of the biggest capital spending from carriers we've seen, especially in china. third thing is we were disappointed on the details around how intel hopes to generate return on the roughly $17 billion they're putting down f

altera has been a partner for almost two years now.y have been working inside our design tools, our silicon libraries. they know how to build on our technology so that the team -- the integration of the engineering teams has been much more quick than if we bought somebody that was not part of that foundry business already. what about the sales force? how is the sales force different ?rom altera where are opportunities for you to reduce costs? said was that most of the synergies or cost reductions are going to come from the gna side. the unique thing about the engineering and the sales side is, they were specific to these technologies. what is different is, our sales tend to be more general-purpose cpu or logic sales. they have somebody going in and --ling a court to build selling a core. in fpga, you are selling a specific capability. closely withork the architecture and the software implementation, to size it right, to scale it right, to get the right part in there. it is a much more technical sale. cory: sounds like you need both tea

altera. of intelay the chances coming over the top are low. pimm: if you put together has this chip combination concept and now you've got intel and altera, the same thing, what other companies are out there that could be added to the mix if you are we've got to combine our chipmaking? integration takes place in the industry almost every day. some combinations i can think of in the future, microcontrollers, these are a must like tiny cpus. they would be useful in the iot space. the internet of everything. pimm: who is the leader there? chris: quite a few. microchip is one. texas instrument. a company that should be ripe for a takeover. you might see some consolidations take place. betty: where does this leave qualcomm? would they come over the top on either one of these deals. it is already the biggest year semi chip conductor. lead you to believe there are more coming. you are going to see more deals for sure. pimm: thank you very jeff mccracken and chris offbr. coming up later today, we will be speaking with the intel chief executive. and st

intel is buying altera in a deal valued at $16.7 billion. agreement togo brought,. trying to signage will be our guest. it not want to miss that interview. the offer is 28% more than oh m's may 29 sharing price. a merger in the health-insurance industry might be in the works this morning. bloomberg news is reporting humana was approached by cigna. medicare advantage insurer and could be the leading company for medicare part d drug coverage. erik: the senate failed to extend programs for yesterday's deadline that means, for now the national security agency cannot collect phone records in bulk. a bill that would keep spy programs in place. going greenwald -- glenn greenwald gave us his take this morning. >> mass surveillance inherently is wrong. why should the government be in the business of collecting data about what we as law-abiding citizens do and say and the people with whom we are speaking? it is corrosive to basic liberties. erik: senator rand paul's opposition notwithstanding, the senate is likely to approve a bill to extend spying programs. dems has to cost

the largest chipmaker has agreed to i altera. -- by altera. theres a 56% premium over closing price on march 26. coming up later today, we will talk with the chief executive of intel. some factoryceived data. the index rose to a three month high. those gains will probably support economic growth after gdp contracted during the last order. a stronger dollar is making exports more expensive. pimm: americans are saving money rather than spending it. gas purchasess installed while income group. accounts fornding almost 70% of economic activity. program has been suspended. were raisedbstacles by senator rand paul. the most controversial allows the nsa to collect and store millions of phone records. we spoke to glenn greenwald, he read -- won a pulitzer prize. >> mass surveillance is wrong. why should the government be in the business of collecting data about what we as law-abiding citizens do and say. it's inherently corrosive to basic liberties. olivia: the senate is expected billss a hasp -- house that extends the program. there will be some limi

intel has agreed to buy altera. it represents a 56% premium over altera's closing prices before the talks began. the intel ceo will be our guest at 4:00 eastern time. you don't want to miss that conversation. berkshire has the berkshire hathaway has replaced -- hasief executive replaced the chief executive at net jet. net jet cells fractional ownership of private jets to individuals and corporate clients. two countries that love baseball are reestablishing diplomatic ties after half a century, so naturally the first visit of a u.s. sports team to cuba involves soccer. arrivedos and pele have for a match against the cuban national team. talk that major league baseball will eventually play an exhibition game. those are the stories we are following at this hour. nextet: coming up in the half hour, expect more of the stock buyback bonanza, but it might not be the best use of cash. mark: the u.s. supreme court has increased the religious rights of workers as justices revive a lawsuit claiming abercrombie & fitch illegall

intel buying programmable chip maker, altera.make chips increasingly popular with data centers, still making a ton of money. it is not making money in chips for smart phones and tablets. the server area is critical. this will help out intel in a big way. last week's san jose avago bought broad come for $37 billion and analysts expect consolidation to continue. consumer spending was flat in april according to the commerce department. the weakest showing in three months. we did see a nice rise in incomes, biggest gain since august. people are saving more money. retail sales aren't that great, it's a welcome sign of fiscal responsibility taking place. we would like to see more of that. stock market off to a positive starts after a rough week. let's look at the big board and see how we're doing so far. dow up 14 points, much stronger earlier, and now weakening a little bit. nasdaq hanging onto a 1 point gain and the s&p is down by one. michelle and frank, back to you. >> jason brooks from kcbs news, thank you. >> new this morning, a

. >> intel confirming a nearly $17 billion altera purchase for a huge premium. this as the nasdaq hit a new closing high last week. take a listen to what the ceo of intel said about the deal moments ago on "closing bell." >> we compare it against the advantage of investing in our stock or giving dividends and it has to pass that hurdle. >> so as tech companies continue to shell out massive amounts to buy out others, is it safe to say the tech market is actually undervalued? there is a buyer here. the buyer being the other companies. >> on the altera deal, i think this is kind of a tuck in for intel. i think the deal wasn't terribly accretive. the best thing intel could have done is buy their own shares back which would have been 15% accretive in my view. are they paying with shares or are they paying with cash? that's part of the barometer how you look at a deal. but big cap tech right now is very cheap relative to the market so no. i think a lot of these guys are in a good position to buy stock and doing accretive deals. >> relative to intel's cash balance or a

not in a comcast/timewarner cable way. >> take a look at shares of altera.at $48.85 on friday because expectations that something like this could come as early as today. >> even more meaningful it's up i think about 56%. that price is a 56% premium to where the news first emerged back in late march that the companies had been in talks. of course, those talks fell apart after altera said you know, give them the heisman. talk to the hand and then the investor said, you people are crazy. take $54 and run like the wind. now, they're running like the wind this morning. so here we have a deal that we're talking about for quite a while. >> this is the question of who would buy zilinx. he talked about adm as a possible acquirer and other chipmakers that could look -- >> who? >> adid i say adm. >> if you want to sell some corn or other vegetables. amd has a $1.7 billion market. so they're not buying. they could buy, maybe they can buy lattice. >> reverse pac-man. >> i like that. anyway i'm sorry mr. liesman. >> love means having to never say i'm sorry. >> did you hav

altera bought at this price, intel backed away. shareholders have their say.his time it's going to work out. >> it's still paying for premium that's 56% above of where the stock was trading before the news broke. david citing 23 times, there does seem to be a worry that yes, brian and his team think this is the direction they're going in, but they are paying a very rich multiple to get there. >> they are. >> i think they have to make a bold move here. these field programmable things are allowing someone to tweak with the code before they put it into a server facility or something like that. already, ironically enough, in june, 2014, diane brian at intel said in a blog post by integrating fpga, with processors, the intel processors, we estimate an additional 2x lithium performance for our customers. this is something they kind of dated before they married. they recognized it was a step change for their business and recognized they had to get in. look, intel's top line revenue is basically not growing. this adds $2 billion due by 2016, and it adds about 11 cents

these -- altera has been a foundry partner for almost two years now.hey have been working inside our design tools. they know how to build on our technology so that the integration of the two engineering teams is going to be weh more quick than if bought someone who was not part of that founding business already. what about the sales force? how does the sales wars -- force differ? where might be a real opportunity for you to reduce cost? brian: what we said was that most of the cost reductions would come from the gna side. the unique thing about the engineering and the sell side was at that there's very specific to these technologies. what is different is our sales tend to be more general purpose logic sales. someone going in and selling something. in alter a come you go in and sell a specific capability will set you up to work closely with what the architecture and software of limitation is. size it right, scale it right, get the right part in there. thank you very much. one of the biggest deals ever. we appreciate your time on this important issue. al

santa clara-based intel is buying san jose based altera for $16.7 billion in cash.t comes after an earlier round of talks between the two companies end end in april. stockholders for altera will receive $54 per share. >>> homeowners who live near levi stadium are hoping to cash in next february. many are planning to rent their houses out during the week of super bowl 50. luxury homes on the peninsula could go for as much as $10,000 a night. they say homes very close to the stadium could also draw high rents. vacation rental firms say even people who don't go to the game may want to have a home base in or near san francisco where many of the pregame activities will take place. the bay area has a limited supply of hotel rooms so demand for private places to say could be high. >>> tonight at 5:00, warnings about earthquakes that never happened. tonight, we the usgs about a string of false alarms in the past few days and how these phantom events got recorded. that's coming up tonight on the fox 2 news at 5:00. thank you for making ktvu your choice for news. we're always

intel scoops up all terra -- altera for $57 billion. why? to defend its earth in the data center space, its most profitable business, intel is paying 11% premium over the closing share price on friday. it is the same price it offered in april. that was initially rebuffed. the deal still pales in comparison with the $37 billion purchase of broadcom last week. coming up, connecting the dots in the world of applications. the man who wants to make your online life more seamless. he is behind a new partnership between foursquare and uber. plus, is this your old junk? the apple original dumped at a recycling center is worth a small fortune. ♪ emily: foursquare has announced a new partnership. you can order an uber ride from inside the foursquare app all powered by a button by a company called button. these buttons link between apps so you don't have to navigate between them. once you have used foursquare to find a place to eat, the touch of a button will order an uber to take you there. we have the button ceo michelson -- michael. tell us how this

. >>> intel is buying altera. altera makes chips in smart cars and phones. the deal still needs to be approved by altera stockholders. stocks in both companies rose on the news. >>> that deal along with encouraging economic reports helped push the market slightly higher today. dow was up 28 points. nasdaq gained 12. s&p rose 4 points. >>> a solar power plane attempting to circle the globe had to make an unscheduled stop to ride out bad weather. the solar impulse set out to china on what was supposed to be a 5,000-flight to hawaii. instead it had to land in japan. the pilots will likely stay there for a few days until the weather improves. >> this is an adventure. you have problems to squauvl -- to solve and you need to find solutions. >> the experimental aircraft took off from abu dhabi in march. the pacific crossing is the 7th of 12 flights and the riskiest. >>> still ahead a lion attacks, killing an american tourist. the rule officials say she broke that may have cost her her life. >> plus, it draws lovers from all over the world. but now why people are bi

. >>> intel has reportedly struck a deal to buy altera.hly the same price that was rejected in previous talks in april. the deal would be largest ever for intel and follows a wave of mergers. let's have a look at price action. intel up 1.2%. >>> now starting today, smoking is banned in public spaces in beijing and the latest attempt of the chinese government to crack count -- down on the country's happens. let's get out to eunice who has the latest from beijing. >> reporter: this is the toughest anti smoking law in china ever. as of today, people in beijing, the capital, won't be able to smoke indoors, in public places such as hotels or restaurants or offices. they also won't be able to light up in certain outdoor areas, either. sporting events also outside of schools or hospitals. this is all a part of the chinese's government to get people to quit smoking. they have concerned about the health costs the fact that china is the biggest consumer of tobacco products and they have made these efforts in the past back in 2011 we saw another simi

in the case of altera actually it's interesting. that options trade happened very, very quickly. all of those option traded in about 130 milliseconds. we're talking about an eighth of a second. what's interesting is the stock didn't actually halt for a period of time there. >> how often does it happen like that where the stock goes up 25%? that's the point. oftentimes you get this 3%, 5% move and you have retail people, they're the ones driving it up that last few percent. >> trading wp for weeks before the deal. >> my point is you have to take a look at it on a case-by-case basis. there was time. in martha stewart's case you could have gotten ahead of the headline and in the case of altera there was a window when it halted and it ended up trading dollars higher. >> that is the reality. coming up, carter made it rain with the ambarella trade. we'll tell you what their next move is after the stock took a beating today. that and the final call next. alt understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third

. >> you know, it's funny because since, dan, the intel altera deal the sox has had some trouble. >> the stock has sold off 10% since they actually finally came out and announced they're buying intel, or excuse me, altera. that was a very expensive deal not just on the price tag but valuation basis. it's important to remember in late april when these rumors started circumstance laithing the stock was at $30. down 15%, 16% on the year. and although it has that 3% dividend yield and a monster buyback and it's generally kind of a cheap stock, trades below market multiple, investors are having none of it. so when you hear the ceo speak the way he does and make an acquisiti acquisition, their largest ever, and he's not too excited about anything going on, it doesn't make investors feel particularly bullish about it. i suspect you're going to see 30 again before their q2 print in july and i don't think you want to own it here. i think my man pete over here thinks otherwise but i think it's a bit of a value trap. >> but this buy doubles the size of the network, gets them in the data center

intel and altera have been dancing over the weekend.'s get to our morning must read with brendan greeley. brendan: mine comes from "the financial times," the former senior director for russia for the nsc. he writes that the problem is with russia, not vladimir putin. russia has pushed its moore's outward as far away from possible that its borders outward, as far away as possible from its heartland. it did not stop when it reached the fence will physical borders but only when it ran into powerful countervailing states. it is a long, historical argument, russia is as russia does. whoever happens to be running russia does not make a difference. do you buy into the historical approach? anders: now, i think boris yeltsin was much more democratic then vladimir putin is. he is highly dictatorial is deemphasizing the economic in the businessmen in russia. he is strongly against the people in russia and the economy in russia and is promoting his own political future and the territorial growth of flood -- and the territorial growth of russia. bre

sources say intel is close to buying rival altera. we've been told that chipmakers have been in contact since earlier this year and altera rejected an initial offer in april. there are reports that the talks are back on. the man who founded the online drug bazarar called silk road has been threatened to life -- has been sentenced to life in prison. anonymous traders used bitcoin to buy and sell drugs, tools, and identifications. prosecutors say at least six people died after taking drugs bought through the website. angie: still to come in the program, the make or break debt repayments for greece. and the prime minister is on the attack as a deal remains ever elusive. next, china's manufacturing pmi increases in may, yet still fails to meet expectations. is the economy showing signs of stability? we will get the reaction from our next guest when "asia edge" returns. ♪ rishaad: you are back with "asia edge" as we check on the stories making headlines. angie: myanmar has detained journalists trying to reach an island where natives have b

. >>> the on again, off again deal between intel, and altera goes on today. they should expect $54 a share. not a done deal yet. previous talks broke down in april. >>> new light of top average salaries of tech employees. according to court, nexflix employees had the highest salaries on average, $214,000. box came in second with 143 grand. etsy, and twitter, an average of $134,000. >>> crews have replaced the ruptured oil pipeline that caused the massive spill off the coast of santa barbara. plains all american pipeline showed off the new section of pipe yesterday. it's 2 feet wide and 80 feet long. like the pipeline it replaced, does not have an automatic shut off valve, and plains is explaining why. >> it's important to understand that this is a large diameter high pressure pipeline. the results of an unintended valve closure with high pressure could cause more problems to the pipe trapping that sort of pressure. >> the affected section of pipe was hauled to a third party lab for testing. right now there is no time line for restarting the oil flow. as for t

then this morning, $54 a share in cash for altera. now you have a stock that sells at 40 times earnings. so what? altera may not be the microcosm that they want all stocks to trade like. am i not making any sense given the competitive threats out there? does it really matter though? do you want to argue with intel, the biggest semi conductor company in the world? you want to tell the ceo that he's not playing by the rules, that he's overpaying that the average stocks should be much lower, and what was he doing wrecking everybody's paradigm? i don't know. i think i'll take a pass on that accusation. truth is he does much more than i do. there you have it. a series of situations that are cheap or influx, or look expensive and turn out to be worth a lot more than we thought. here's the bottom line on whether i think this market's overvalued. let's just say the market is the sum of what people and companies and ieacquirers and seekers of income would like to pay. i would think there are pockets of undervaluation like apple, segments that

they are buying altera for 15 billion euros. the biggest acquisition in that company's history. peter: traditional chipmakers are seeing margins squeezed as prices for personal computer chips dropped. intel was slow to move into the booming smartphone and tablet businesses. it is the third major takeover in the sector this year. matt: let's take a look at equities markets where traders were, surprise surprise, worried about greece. reporter: once again, investors were eyeing the situation in greece. opinions are different about the situation. investors are optimistic that greece and creditors will find a solution this week. many investors are very pessimistic about the situation. they fear aggression this month. they are nervous, a lot of anxiety, and the market reflected this nervousness today. it was somewhat of a roller coaster ride today. in the and, the index closed in positive territory. matt: let's take a closer look at those market numbers starting in frankfurt. a roller coaster ride ended with a climb, finishing up about .2%. euro stocks rose slightly. the dow jones ind

intel has agreed to buy fellow chip maker altera for nearly $17 billion. intel says the deal will allow the company to expand into new businesses, including chips for smart cars and mobile tech. altera makes chips that can be customized by customers after they buy them. >>> no more styrofoam. the ban on selling food and drink containers made of foam went into effect today in los gatos. they have to use paper, plastic or reusable materials. this also applies to ice chests and coolers. los gatos says this is an effort to cut down on litter and improve the town's environment. >> reporter: i'm jodi hernandez in antioch where the battle over a speed bump is heating up tonight just two days after the mother of a hit and run victim helped put a speed bump in her street, the city has removed it. i'll have details coming up. >>> and the tsa is supposed to keep you safe in the air but a scathing new report says agents are failing at the job. what they missed that has officials worried about your safety. >>> and i'm janelle wang. your phone call more private today, b

. >>> after a few weeks of speculation, intel, altera finally agreeing to a deal. will buy the company for nearly $17 billion. and here's our own steve weiss from about a week ago. >> what surprised me is you have intel up today, but what's surprise smed altera is down today. now the market's down, but still. that combination is not completely off the table from what i'm hearing from large shareholders or both. i think there's more to happen. >> okay. good stuff. now what? >> well, first, two points. i'm always glad i didn't wear the same shirt when you play the replay. i will apologize for starting to show before pete got here. that aside -- >> thank you. >> here's what's happening, you're going to see more of a pickup. the closer we get to rate hikes, the bigger the rush is going to be to get in with such cheap finan financing. it makes such sense, when you can finance for next to nothing, and acquire growth and growth has been a problem as you pointed out. and as i think we've pointed out over here. that's your way to get growth. i think we see more in technolog

it's expected to announce a $17 billion bid tomorrow for san jose-based chip designer altera. it said they should expect $54 a share but it's not a done deal yet. previous talks between the two companies broke down in april. >>> the golden state warriors are about to play for their first nba championship in 40 years. tonight their plans for a new san francisco arena are far from a slam dunk. the environmental impact report is due out this week, and opponents are already lining up big name lawyers to rip the project apart. they're worried about traffic, noise and the potential impact on the nearby ucsf medical center in mission bay. the mayor's office has vowed to move forward. the warriors are hoping to open the arena by 2018. >>> a san francisco women is recovering tonight after a neighbor's dog attacked her. it happened late this afternoon near taylor and columbus. and we're told two dogs were initially involved in the attack one apparently did not hurt her. the other bit her on the arm. >> they're not life-threatening since it's on the arm. we don't know the severity of the

it's not just intel and altera.elphia semi-conductor index on the prospect of further deal activity? >> there will be further deal activity, yes. so there's still tuns for investors to look at out there. they would make a wonderful target for the companies looking to strategically improve data center acceleration. there's another company out there that we think actually has a superior strategy to switching. so some of the slower growth companies or even negative growth companies are acquiring right now. there's good organic growth stories and then opportunities to play the mna angle on this. >> sometimes they say they're a leading indicator for the tech sector. but let's talk valuation. at some point will they say these are getting too rich especially when looking at others? >> from a historic standpoint some of these do appear at the higher end of their range but if you put some of these companies into the basket of relative to say s&p 500 names which many of these companies compare very favorably to in terms of th

intel is reported to be buying altera for $16 million. the purchase would be the biggest in intel's four to seven year history. one of the world has biggest advertising companies, wpp could be facing a shareholders revolt over the ceo's pay. there was an increase of 40%. two shareholder advisers have raised concerns. genie: we know that the race to the white house is heating up. that race, of course, in 2016 of next year. businesses in one key primary state are preparing for the influx of all the world's media. stephen: there is an awful lot of money that circulates around the united states, but one business in iowa has specially designed t-shirts. a company in des moines called ray gun has designed risha -- has designed t-shirts for journalists to buy. one there, "is there a bail of hay i can interview you next to?" genie: crazy it is. thank you so much, stephen carroll, for a look at business news. time now for the press review. we have nicholas rushworth with us on the set to talk us through the press. you are starting with a possible

was intel buying altera but broadly speaking what is this m and a boom mean to you? does it tell us there's appetite for investing and putting cash to use or does it signal desperation to grow organically versus r and d. >> the latter camp i'm afraid. may 2007 was a previous peak. if you bought them in may 2007 you would have had a bumpy ride. we know they're generating cash flow but they're spending a lot of cash flow on share buy backs and m and a and historically speaking they peak along we inquirityy equity markets. they're trying to create some sort of value through m and a. it's not good for the u.s. economy in terms of productivity and when you are near record corporate profit margins there has to be descent value investing in their own brands but they spend all of this money on m and a. so this type of activity is not day-to-day saying this is the peak in equity market. stake a step back from a cyclical point of view this is pretty worrying stuff. >> would you go as far as to say this rise in activity is a sell signal for the market? >> at some point. absolut

intel said it would buy fellow semiconductor maker altera for $17 billion. the move will allow intel to expand beyond ships for pc's and into smart cars and cloud computing and other applications. the deal is intel's largest shares of ultera were nearly 6% higher. and intel fell 1 inform%. >>> in washington today, a supreme court ruling in favor of the banks. the nation's highest court said struggling homeowners cannot get rid of a second mortgage using bankruptcy protections, even if they owe more on their first mort worth. the case involved second loans held by bank of america. and the ruling was unanimous among the justices. that wasn't the only business related ruling by the supreme court today. one case involved abercrombie and fitch and workplace discrimination. the other, posts on soci >> facebook claims 1.4 billion monthly active users world wide. today in another social media channel, heard the first ruling from the u.s. supreme court about possible boundaries on free speech. the high court through out the conviction of air pennsylvania man. prosecu

. >>> intel said it will pay almost $17 billion for altera that will help expand into the internet ofand cars. andooks like dining with warren buffet is going to be pricey, once again. he launches off every year. >> some students in san jose got to visit nasa ames today d >> las year a printer blasted into space and was a success. and there will be more. this working pair of pliers designed by high school students >> it was difficult because o the restraints. >> nasa quires prints to be solid objects with nothing that can float around. >> these students are some of the first 0 gravity designers. >> it's insane. out of the world. >> from valley christian junior high. they'll nd a file up to the space statio it will be printed and put on display. >> to honor them >> the students objects won't be printed on this first printer but made the new three d printer heading later this year. >> will print in multiple materials. when you're four months in and need a tool you're not going to want to wait for a rocket to get there. >> this you can go right here. >> do you think we can print up anoth

it's a $17 million offer for san jose based altera corp. shareholders should expect about $54 a share, but it's not a done deal. previous talks between the two companies broke down in april. >> boy, if true, that would be a big deal. >>> an old computer dropped off at a recycling center in the south bay turned out to be worth $200,000. kpix5's john ramos on the small fortune waiting to be claimed by the woman who left it. >> reporter: you know that final scene in raiders of the lost ark when the ark is lost in a giant warehouse? that same thing happened here in milpitas, well, sort of. >> if you look at the shelf, it's all industrial stuff. >> reporter: this is clean bay area, a company that collects old equipment from businesses and resells it online or passes it along for recycling. about a month ago an elderly woman dropped off some boxes of junk that belonged to her late husband. >> some stuff like this. >> reporter: the boxes sat for weeks on a palette until they fable -- pallet for weeks until they finally rummaged inside one and ther

intel defending its data center business by buying altera or over $16 billion.it tells us about the growing m&a wave in the semiconductor industry. the rise of the one-stop button. i'm joined with the entrepreneur whose technology is integrating uber into foursquare with just one

. >>> microchip maker intel is buying a chip designer called altera in a deal worth $16.7 billion.been going on for months between the two companies but today intel officially announced that agreement. it's the biggest acquisition in intel's history and it continues a trend of microchip mergers. intel is the world's largest maker of pc changeups but buying altera gives them access to chips used in phones and cars. >>> closing numbers today, a nice change as we see green arrows across-the-board. the dow up just about 30 points to close at 18,040, the nasdaq up 13, the s & p up four points on the day. >> getting a new look at atlantic city's next big development project. it's called the playground and it will replace the former pier shops at caesar's. the center piece of the 500,000 square foot center will be t street a collection of seven music venues. developer bart blat stein says he drew from famous streets in nashville, memphis and austin for inspiration. iron chef jose garces will be heading up the food. parts of the playground slated to open the weekend of july 4th. >> no doub

coming up, an object that may be >>> intel said it will pay almost $17 billion for altera that will helpd into the internet of things and cars. and looks like dining with warren buffet is going to be pricey, once again. he launches off every year. >> some students in san jose got to visit nasa ames today. and >> last year a printer blasted into space and was a success. and there will be more. this working pair of pliers designed by high school students >> it was difficult because of the restraints. >> nasa requires prints to be solid objects with nothing that can float around. >> these students are some of the first 0 gravity designers. >> it's insane. out of the world. >> from valley christian junior high. they'll send a file up to the space station. it will be printed and put on display. >> to honor them >> the students objects won't be printed on this first printer but made on the new three d printer heading later this year. >> will print in multiple materials. >> when you're four months in and need a tool you're not going to want to wait for a rocket to get there. >> this you can go

anna: he also spoke about the difference between intel and altera.an: our sales tend to be more general-purpose cpu or logic sales. someone going in and selling -- altera is going in to sell a very specific capability. you have to work quickly with what the architecture and software implementation is. to size it right. and to scale it right. to get the right part in there. anna: in a year of consolidation in the tech industry he said that previous acquisitions had shaped his approach to this one. brian: we have been doing a lot of acquisitions over the last few years. i ran one of intel's acquisitions for a while earlier in my career. mark: intel is struggling to achieve growth amidst rising costs. the deal is seen as a bit to extend its -- as a bid to extend its profitability. in europe, to continue rising at about 15% over the next five years. arm cmo ian drew spoke to bloomberg television. ian drew: we see it slowing down a little bit and there will still be 10% to 20% growth. there are still billions of people on the planet that do not have a sma

altera and intel. stocks are trading up. that's it for us we will satisfy see you tomorrow on "mornings with maria". "varney & company" is next. have a great show. stuart: thanks. it's monday june 1st, california get that coffee going, it looks like your money will be off to a pretty good start. historically june has been a tough month for stocks. maybe this year we'll buck the trend and a half hour from now, stocks should be going up. we'll show you how much you are making. hillary clinton desperate to reel in the money. according to the new york times, those who can give $5 million a pop are not yet handing over big bucks. now she'll try to convince them to hand over 10 million instead. a big fight coming over security. how do you feel about the government tracking phone records, not recording all conversations recording the numbers called. this is the rand paul nsa issue and there are new developments today. and now we have the numbers on elon musk. he received $4.9 billion worth of green energy tax credits. his stock has

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intel pays 54 a share in cash and a $16.7 billion play for altera. they are the maker of semiconductors. stocks shot up 6%. the deal is a premium of 11% over the closing price. if you look back to march 26, it is a 56% jump. happy shareholders there. with going on? 's going on?g >> we have been doing acquisitions over the last two years and i ran intel's acquisitions. we are taking a lot of that learning and carrying it into this acquisition. su: it comes on the heels of the biggest deal ever in the chip business. the deal to buy radcom -- broadcom. business is seeing a little growth going forward. when of the few strategic moves being out there. taking a quick look at the broader markets, we saw a rebound in stocks earlier in the day that were a bit skittish. in the face of these conflicting reports. is the economy recovering or not? it expects consumer spending data for april, what is going on? that when you have this kind of data, which is not but notily negative, necessarily positive, the market loves it. it means that the fed won't be in a big h

. >> is this why intel went out and bought altera? we knew about the pc weakness. >> but when you look at micron everybody thought it was about dram. when you hear from the company the dram is okay. if you look at a chart the company doesn't look okay to me. further weakness. they're naming a bunch of other things they're concerned about. if i told you that a couple months ago kb homes would be up 20% and micron would be down 20% in the time frame you would have thought i was crazy. but that's what you're starting to see. a switch in where guys are long. >> one positive sign i thought was actually in microsoft today because obviously we all talk about this pc demand weakness. microsoft is the epicenter of that potentially. they also have their data center that they're working on now. but the point is it held 45 and that's a very big level. i was actually positively surprised by microsoft's -- it's called relative outperformance in today's market. given the fact that intel got crushed, micron. if you go with guy and say i want to buy t

hasta se puede freÍr, que no es muy recomendado, que no se altera.rico. pero acÁ tenemos otra cantidad de cosas que no son muy conocidas del coco. esta es la mantequilla del coco. es como un dulce de coco. Éste es el coco que se venden hojuelas que se puede utilizar para cocinar. si Ésta es el azÚcar. que nosotros no recomendamos para nada. yo siempre recomiendo que los dulces son muy poco lo que hay que consumir. ademÁs este azÚcar tiene aminoÁcidos, y una cantidad de minerales que no tiene el azÚcar normal, la super blanca que no es recomendable. y el agua de coco que estÁn todas partes y que... estamos consumiendo la fibra y estamos consumiendo ademÁs todo lo que tienen los electrolitos. >> mÁs que todo uno puede combinar los productos? doctora: a la hora de tomar agua, si haces ejercicios para recuperar toda la hidrataciÓn que has perdido, el agua de coco es ideal. presentadora: en los batidos de proteÍnas es ideal. la compre tambiÉn una botella mi madre por lo del alzheimer. ustedes se lo toman directo no? doctora: quiero que hagas la prueba. pr

this going a little bit some of the heavier names -- >> you just mentioned avago, broadcom, intel, alteraion worth of m&a right there in the last two months. i feel like in a lot of ways that has actually kept tech afloat here. when you think about it, tech is the largest weighted sector in the s&p 500. and you mentioned apple. that's the largest weight in the s&p. it's the largest weight in the nasdaq. when you think of the nasdaq, it's got all these biotech stocks that have done very well too. to me underlying tech stocks, large cap tech stocks act very, very poorly, which brings us to intel. that's the one i really want to focus on because to me i think it has the potential -- the stock is down 14% on the year. i think it's incorporated a couple guide downs over the last two quarters here. we got one in january and got one in april and the stock has acted okay, but now really it's down -- it's approaching a very, very key technical support level. we have a chart right there. to me, listen, whether you like this stuff or not, this has the potential to be a textbook head and shoulders to