look clockwork amgen just finds a way. other biotechs should take note, meaning are the bioteches that swing back and forth between 52-week highs and lows should figure out how to be just as slow and steady as amgen there were news from executives at amgen the head of rnd, sean harper is going to retire as well as their head of commercial tony cooper sean harper is retiring, i think today his job is being taken over in september and hooper is being replaced by gordon from bristol miers and we should note that amgen is the fourth big biotech to report earnings, and rounding out a very solid quarter for these amgen, celgene, and biogen and gilead its quarter actually looked very good and something that michael yee from jefferies noted for us. >> meg, thanks pf meg terrell. what do you do, guy? >> it was at 201 or so and we're basically up against it now. that's, i guess, the good news and this is the way i look at it they beat the quarter and this is the second quarter they beat by 28 cents and they raised the lower end of g

reuters reported that amgen is facing roadblocks as it tries to ort its $575 migraine treatment on theb the competition ramps up. shares were initially higher in the extended session and they ended the regular day up a fraction to $194.05. >> treasury secretary steve mnuchin said today that the trade deal being discussed between the u.s and the european union will come in stages. during a i cnbcerview he said yesterday's talks with the european commission president is the staing point for resolving a lot of trade issues with the goal of eventually eliminating all tariffs. >> the first issue that will immeately begin negotiating is to resolve the issue on the retaliatory tariffs and phase one is to immediately resosve issues so there will be no tariffs in either direction. president trump has said that as ng as we're negotiating the overall agreement that there will be no newarfs in either direction. t> secretary mnuchin was tight-lipped abode relations with china, but he did say that the treasury is closely monitoring the recent t weakeni chinese currency. >> on capitol hill, the u.s.

about trade, cross-hairs, cross-fires, whatever you want them to be i love biotech, i own gilead, amgen, idb riding from first quarter 2016 we kind of forget about biotech now and then you look at biogen and that story you prefaced with is exactly why people love it done nothing four years and today up 16%. >> positive on alzheimer's treatment that would slow down the course of the disease. a major breakthrough here. >> complete caught off-guard electric that perspective. there's not more data on this particular drug for a while so sort of all clear for biogen in general. look at health care, biotech from a general perspective, they are underweight, very underweight biotech in particular look at m and a, some of the desperate deals announced. novartis makes an $8 million acquisition of a company, gene therapy company in april the company doesn't have approval for their product yet there's a lot of desperation with larger cap names. i look at gilead, there's a name that's going to have to make strategic. >> they did, made a deal. >> was small enough not to get juices going look at the wa

so i like just about everything that i see from amgen right now. >> hey, pete i have the question aboutuybacks and dividends. >> i know they have a great growth strategy, but doesn't it concern you that they can't find anything better to do with the capital than to pay the dividend >> i think what they're doing is they're shareholder friendly and oh, by the way, one thing i didn't mention annually, 11 billion in cash flow they can look around and they can look for acquisitions if they'd like to, and i like what they're doing in terms of the shareholders first >> no more questions, are you buying or selling pete's pitch on amgen >> i'm buyer and long the name and i think the company is kicking it and i'm not concerned about the piece. >> some of the key drugs, so, yes. >> buy >> there you go. >> dan sold to pete, great story. where was he two months ago when the stock was -- i don't know, 165. thanks a lot >> that should be the ring tone. that sound >> p.k.? >> i'm a buyer with pete buyback stock and have a growth strategy p.k. likes. >> two buys and one sell from dan. the desk has spoke

. >> we've got another alert on amgen. >> it looks like a beaten race for amgen montana second quartersus the average estimate of $3.64. analysts average estimate of 5.73 billion the company says it was helped by higher sales but also the tax rate went down due to u.s. tax reform they also increased their 2018 guidance for both sales and adjusted earnings per share. the new midpoint of the sales guidance is higher than what analysts aric look for however the adjusted eps guidance lower than what the street had been looking for. you are seeing the stock up 1.3% in the after hours the company also saying their new migraine drug is off to a good start that's very early so we don't have numbers on that separately the company also announced the retirement of two higher ranking executives. the head of rnd, shawn parker is >> and shares of amazon as we reported earlier slightly jumping after reporting earnings moments ago. we should remind people the stock is down 3% in norm trade so net net today it is down. let's get more discussion from those numbers. very good afternoon to you both. tom,

i amgen fer casarian and i work here at san francisco international airport. the idea for therapy dogs got started the day after 9/11. an employee brought his therapy dog to work after 9/11 and he was able to see how his dog was able to relieve passenger's jitter. when we first launched the program back in 2013, our main goal was to destress our passengers however what we quickly found is that our animals were helping us find a way to connect with our pang. passengers. we find there are a lot of people traveling through the airport who are missing their pets and who are on their road a lot and can't have pets and we have come in contact with a lot of people recently who have lost pet. >> i love the wag brigade. >> one of my favorite parts is walking into the terminals and seeing everybody look up from their device, today everybody is interacting on their cell phone or laptop and we can walk into the terminal with a dog or a pig and people start to interact with each other again and it's on a different level. more of an emotional level. >> i just got off an 11.

. >> drugmakers like amgen and novartis have been doing experiments in microgravity that exists on theonal space station. they have been doing this back to the shuttle era and the 1990's. they can pick up the huge variable in the equation, which can impact different processes, play with extreme temperatures, other differences like radiation. there are certain things going on that they are trying to harness on the international space station to see if this is doing this, maybe become replicate this honor. carol: help me get my head around this. is it just kind of cool? what is it about that environment for testing medication? jason: why does gravity matter? cynthia: on earth, sediment. things experiments might drift to the bottom. without gravity, the particles might be more evenly distributed. also, things move more slowly in space. scientists that are astronauts on the space station actively manage these experiments. on space they can pull the sediment out and make a cleaner experiment. it is about early-stage research and through this, they can do things better. i am writing about sm

. >> this is incredible early-stage science, but drugmakers like amgen and novartis have been doing experimentsogravity that exists on the international space station. they have been doing this back to the shuttle era and the 1990's. basically, what they can do is pick up the huge variable in the equation, which is gravity, and it can impact different processes, play with extreme temperatures, other conditions like radiation. there are certain things going on that they are trying to harness on the international space station to see if this is doing this, maybe we can replicated on earth. carol: help me get my head around this. jason: i was struggling with this. carol: so what? is it just kind of cool? what is it about that environment that makes it ideal protesting? jason: why does gravity matter? >> some things to explain simply, in gravity on earth, there are segmentation forms. in experiments, things might drift to the bottom. it might make it harder to study. without gravity, the particles might be more evenly distributed. carol: kind of pure? >> exactly. also, things move more slowly in sp

people go to make some money >> when it comes to going to more boring companies, go to healthcare go to amgen at the consumer staple companies. anheuser-busch, you mentioned them earlier we think if you have a 24-month holding period you could do well it's a rising dividend stock >> you think oracle and cisco can also be value companies? >> right you could have a lower pe multiple, a lot of cash on the balance sheet, consistent growth and play off the global growth the hshg e theme? >> were you shocked by facebook? >> no, i'm just shocked that the concentration and excitement from a handful of stocks, we saw this in 1998 to 1999 you had the amazon effect. a great company, but everyone is so excited about these companies that valuations are elevated they are really elevated and price ed d to perfection. i think people with a longer term perspective, they may want to chill out a bit >> look at that. google, alphabet, down 1.5%. they just had spectacular numbers the other night. the market did not hate the numbers. amazon, nothing has changed with amazon how much of that is big tech correlation,

>> yeah, it is, amgen. it's actually approaching where it was with the highs earlier in the year it's interesting the charts to look at. but it coming down to we talk about the variety of bio charts. stephanie bought some gilead and i like the stock that's been hammered and not been hammered it's produce and this is like a major pharma company the way they act the august 195 expired on the 3rd of august. 5600 of the calls bought today that's aggressive. they also bought the 200 strike calls. it's not a spread. they bought one, they bought the other. out into august, we're seeing buyers, buyers, buyers, looking for the upside what do you got going on there >> cgrp. that's their version of it revolutionary. >> jim, do you like the name >> yes >> cgrp. it prevents migraines, okay? and it is crushing it, doctors love it. that's what's driving this that's why i think it is >> when we talk about these names, we always talk about pipelines and everything else. >> and people forget, the cholesterol drug is amazing.

well as bio similars how much of this will be sustainable in future quarters that's a question for amgen numbers out that stock is trading about flat roller coaster ride this week with biogen. >> yeah. the alzheimer's drug up first and then. they didn't need the end points. >> the study was muddled in terms of t terms of how they collected the study. the patients with the highest dose were not genetically predoes posed to alzheimer's so the disease progression is slower in general in those patients there's questions how the study was perceived and how it was executed and that sort of muddied the waters for biogen which is showing a decline of 1.3% biotech under pressure as we have technology as a whole, i believe, it is higher. >> yeah. amazon is up about 2.8 the market value is above $900 billion. you can do your own figuring out of what exactly bezos' network is. >> another favorite parlor game along with the market cap trillion dollar. >> yeah. he's the richest guy around. i think that's safe to say. >> in history. >> almost down 7% after the numbers it was the margins that people are

you've got amgen, boston scientific, varian and biotech the top performing sector on the s&p 500, hitting the highest point, you have to go back to january 31st to get there. i need to tell ought 20 minutes past noon eastern, facebook bulls were enjoying a much-needed reprieve. suddenly reuters broke this "new york times" headline -- not but 20 minutes later, america's biggest social media company blew out the news, they announced they had uncovered and removed 32 pages consistent with what they called russian propaganda sites that were attempting to influence voters on both sides ahead of the midterm elections. we got these details. facebook first identified the activity two weeks ago. the account holders went to great lengths to obscure identities. facebook killed the pages, one of which had 200,000 followers and notified government authorities. and then there is this, here are the images and it took me -- i would have showed them to you at the top of the show. we got them right before the program. these are some of the images that facebook turned down. this one was so-called the resist

upside, so i think there are opportunities ef day yesterday, talking about one of the ones i added was amgen it trades inexpensively. bio tech, there are names that have plenty of upside. >> i have a little bit of cash around earnings. >> something that gets sold off. >> absolutely. >> so you want to have a little bit if you can so you can be taking advantage of the dislocations >> the interesting thing about the survey is that the street is split on what the biggest worries are. you could take a third, say a third, say rising rates. a third say geo political and then you have 21% on the expectations, maybe too high going to slow down in earnings, the dollar is too strong trade war near the bottom of the list it's rates, ge oh, political something or other and maybe getting over on expeck tases here >> haven't we seen each of those at some point? we've seen rising rates. we've seen geo political risk. we've had the trade concerns >> haven't really had rising rates. >> we haven't. >> to the full extent. got over three >> 3.1. haven't had a full blown rip to the point where you say, okay, is t

lapd tact van set up and multiple fire amgens as well. i have to step back behind the line. but yeah from my vantage point right now -- oh, thank you. that's what i can give you. earlierer when i was just south of the trader joe's there were lapd crouched behind their vehicles with -- they had their guns drawn towards the trader joe's but i have since moved and again i'm trying to get closer to where they'll be giving an update. just staying behind the police line and yeah, that's what i can give you right now. >> that's very helpful and please do stay safe and let us know when you have something more. now that we have a bit more information from the lapd confirming this was the it end of a pursuit, which we knew but that the suspect had already carried out a shooting in hollywood. again there were two victims, an elderly and a younger lady. bob, does this make him more desperate? more dangerous? >> this makes him more dangerous, if he's going to shoot it it out with police, that's mot a good sign. if he says he's going to execute hostages, they're going to ache him seriousl

like every group, you've got your winners and loser in biotech, the biggest winners like amgen and regeneronecessarily overlap with the biggest performers let's look at both these leaders and lagers lange thinks the formler continue to run and the latter may be ready to turn we'll start with the daily chart of gilead. that's a former market darling that went out of style in 2015 when people realized a big hepatitis c cure was too dar effective. remember, chronic illnesses is what people really want here if you're investors, not if you got them it's curing a serious chronic condition and that was chronic and no longer is and that means much less repeat business this has been very good for people who suffer from hepc. for the last few years the stock has been put through the meat grinder as the company's pipeline is much more of a crapshoot. last year they paid nearly $12 billion for kite pharma, major cancer immunotherapy play. but while the long-term opportunity could be enormous, it's going to take a long time before it actually pays off. still, in the last few months gilead's stock has sta

they're all facing a first generation pat ebt expiring in the -- they're suffering from that >> gillead amgen. cellgen, regeneron >> the pipelines are good internally and in terms of what they can source from the midcaps coming up, and there's a good level of ini don't he vegas. we think there is going to be some uh-huh mpf. the big question is the level of rhetoric come into the november elections. in a way the president hugging this issue of drug price and takes away a weapon from the democrats. if everybody is agreeing, there's not much to debate my take is that we'll see some appreciation, but still enough discussion about this that we're not going to see a massive step-up. >> that raises an interesting question what do you do with the sector do you wait until after the midterms because of the rhetoric on both sides? or do you buy now? >> we wait we think second half is -- it's a little frothy. at least on the ipo side we're going to rotate a little bit into med tech. >> more on the closing bell. don't move >> mike rob plunging on a report that it had been served with a temporary ruling w