biotech front and center with amgen beating earnings-per-share.t seems they are refining their full-year outlook as well, second quarter revenue beating expectations. up a percentage point, gilead sciences, they managed to beat in terms of their numbers. romaine: electronic arts, the videogame company, their first quarter numbers coming in above estimate. second quarter forecast is going to come in below estimates. however, they are standing by their full-year forecast. a lot of concern here about apex legends not living up to the hype. flow, nowr free cash sees about 5% growth. to 5%.sly a range of 3% let's turn to the big eating of the week, the fomc. they are going to decide tomorrow on interest rates. economists predicting a quarter-point rate cut. economists say that is not enough. they say a small rate cut will do very little to counteract actions by europe and china. 25 basis points, is that going to be enough to keep this economy going? >> i think whether they cut or not, the economy will continue to grow at a decent pace. the fed is cutti

from amgen hong kong.s and stakeholders on all sides to expand our coverage. ♪ ♪ >> we are back. this is a look at the hong kong market as we head toward the lunch break. , hang seng 1.2% down, the hong kong dollar relatively stable. there are concerns about the curve being impacted by this protest. this is bloomberg. ♪ >> the following is a paid program. the opinions and views expressed do not reflect the opinion of bloomberg or its employees. paide following is a plexodermment perplexit skincare. >> is that me? 61. do not look >> oh my gosh, wow. who am i? >> i have no lines on my face. >> i'm in love with the mirror right now.

amgen hong kong chairman. a look at the open in mumbai and have a look at the trading day there. this is bloomberg. ♪ ♪ let's have a look at the latest business flash headlines. the boeing 737 was outsourced and code is being written at a time when boeing was using experienced engineers and pressing suppliers to cut costs. back andoften went forth between boeing and the contractors before being accepted. meanwhile, the company is facing further scrutiny from officials, demanding records from a factory in south carolina. the subpoena involves the 787 investigation. reportedyork times" issues of quality control that threatened to compromise safety. beaiwanese carrier will holding new talks with unions on tuesday after failing to coming to terms with flight attendants. the airline refused to withdraw and say numbers industrial action will continue. the strike will ultimately cause the cancellation of about 2000 flights. to -- just about an hour ago before the trading day kicks off in india. mumbai.tanding by in w

let's switch over to amgen, another beat eps for amgen 397 versus analyst estimates of $3.59 revenue5.871 billion versus expectations of 5.677 billion, company also raising the lower end of its revenue and earnings guidance for the year. most of that beat guys driven by its big drug enbrel. back to you. >> meg, thank you. i can hit the mondelez numbers which are just crossing the tape right now. the snack maker with a beat and a raise here let's go through the headlines earnings per share $0.57, that was a match on 57 expected revenues coming in higher, 6.06 billion versus 6.03 estimated. it's organic revenues that matter most and that was the strong beat here, up 4.6%. the street was looking for 2.8%. and some nice guidance increases here for mondelez. they raised their organic net revenue growth guidance to over 3% before that, for the year they were at 2 to 3% that's on the high end they also raised their adjusted earnings per share guidance to about 5% from 3 to 5% and raised their dividend 10%, 0.285 per share, guys. crackers and cookies are working right now, and also i would s

after the bell amgen beat expectations, but rev knew at the biotech heel because ofom increasedtitionent drugs. it raised the lower e of the full-year forecast. they closed theegular session today up a fraction at 176.45. >>> coming up, just how vulnerable are bank atms to the new high-tech threats? ♪ ♪ ♪ >>> finally tonight, modern-day bank robbers don't have to enter banks anymore. they can now target atms in ways that you would nevermagine possible. this new high-tech twist has become financialor headaches many of the banks in this country. andrea days investigatehis cutting-edge break-i >> it is brazen. light and in d d front of hundreds of people. >> reporter: take a look at this atm attack caught on camera, the images obtained from the secret service. according to the agency, the guys you see in uniform are criminals grabbing loads of cash. what left this seasoned investigator stunned? >> how normal it a lookednd how calm they were. we know for a fac that atm crime and fraud does cost the banking industry and financialu services iy billions of dollars per year. s the orter: davi

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.

. >> that's just fantastic amg amgen. love this one. >>> countdown to the fed begins now on "the exchange." >>> thank you, scott hi, everybody. here is what's ahead just an hour to go we will have lots of discussion and debate about that. >>> that's all ahead in rapid fire today dom chu is here to set the scene for us >>> similar story there, and it is nasdaq outperforming up 0.2, all in anticipation for what could be the biggest phet decision, so the indices very much in wait-and-see mode. one of the other places we're keeping a split close, gold prices are off the reason why it's important, gold prices have been one of the biggest beneficiarieses of the anticipation of a fed interest rate cut in fact, just since the beginning or probably the end middle of may, we've up about 13%, this reaction could be big, and then the stock of the day we'll put up general electric. those shares have seen a roller coaster ride that's just intraday earnings came out better than expected, but there are still some worries about the longer

amgen next.s again really came in with a very strong -- the maker of the arthritis drug -- sales drop in the second quarter but actually giving a strong forecast. yum china seeing sales accelerate. they have an expansion plan, sales much stronger than expect it. amd, this has been one of the chip stories that has been a momentum stock. they disappointed in a big way by coming online and talking about gaming chip command down and that is putting pressure. shery: thank you so much for that. from earnings to economic data to trade talks, investors are weighing optimism against pessimism. susan schmidt is developing a strategy for both sides of that coin and she joins us here in new york. great to have you with us. so much to consider in today's session but let's get started with the fed and expert tatian's of a rate cut because as we see on that -- expectations of a rate cut because as we see on the chart, we see the s&p 500 moving in opposite direction. bottom panel, the correlation between the two

it is home to the largest biotech companies including industry giants genentech and amgen. >>> i mentioned genentech, on the way in, to south san francisco, going down 19th avenue, there are four or five genentech buses that i passed. more than 4000 employees. >> the city is changing four decades. one thing is not changing is the people that make it what it is. she did this in a big way in orange park. what do you have? >> what a great turnout, it has been amazing to watch. we have firefighters as you mentioned, and one that was actually right there on the top of that latter. and the american flag is hanging above us really incredible. taking a look around, i want you to see the incredible turnout that has come out today. we have everyone here from the community from the first responders to other members that celebrate how great south city is and it all has to see. and we are all over this park, i mean all over. it's a really big park. let me show you and decide as we've got our set up but on the other side, let me show you this picture because so many groups of people and community groups

amgen. shares are trading higher on better-than-expected earnings and revenue. company giving upbeat news about a drug treating colon cancer. >>> and gilead's latest results beating the street. >>> shares of electronic arts popping. the video game publisher r eer e topping estimates led by apex legends. some call that the new fortnite. >>> and how about a snack while playing those video games? mondelez raising its full-year sales target it's on growth and emerging markets. shares of mondelez are rising 2.3% on that news sdmroochlt it and now it's time for your top trending stories dominic chooi iu is here. what's trending? >> snapchat is taking aim at its biggest rival, that's instagram. it's all going down on instagram's own turf snap's new ad campaign positions itself as the place for real friends implying that instagram is less authentic. and since snap doesn't have an instagram account it's working with instagram influencers they're posting snapchat branded friendship quotes on their instagram accounts captioned brought to you by snapchat brian, i know you'r

. >> tonight we are going to have amgen, sell gene and gillian. >> amgen, disappointing, sell gene preannouncingkay. us about of the acquisition, squishy. >> the big one tonight >> apple if you do 12% service revenue, and the stock is at 190, you get 240. i want to ask you, what's in your wallet in. >> we have not mentioned capital one quite yet. but that's another big story. >> the reason i mention it is because apple hasn't talked credit cards they won't it is not going to be in their scripts. but scripts are -- they can switch the script right now and not mention capital one. that's a bit of a downer could happen to anybody. but there is an opportunity in credit cards about 100 million credit cards >> let's get the opening bell here s&p 500 at the cnbc real time exchange a real estate investment trust celebrating an anniversary at the new york stock exchange. and salarius >> bought genome, a fantastic company for targeted immunological. those are targeted prices. if you save someone's life what is the price there is a tension between the president and how much we are paying for on cological.

on this point earlier this month amgen launched bio similars to two of your key drugs in light of this news can you give us color in terms of how much you're expecting those bio similars to erode your sales in the u.s. in the second part of this year? >> bio similars have already entered the market outside of the united states. as you have seen, we were able to overcompensate for that effect driven by this strong demand for the new medicines indeed, as expected, we see the bio similars in the second half in the united states we see and expect more of an impact towards the end of the year but given the strong momentum we have with the new medicines, we also expect growth beyond the current year and to be able to continue to overcompensate the effect of the entry of the bio similars >> not such great news for investors in clariant. the swiss firm sabic ended talks to form a chemicals joint venture. the results come a day after the ceo unexpectedly quit. >>> coming up on the show, anglo american eyes a dividend boost but the ceo warns of trade war concerns details are coming up next >>> w

but also business communities as well including amgen hong kong saying it's very much respectful of thisedom of expression, but it does not condone any acts of violence remember, this is a body that was quite critical of the hong kong government's initial move to push through the controversial extradition bill, so given yesterday's development, certainly the narrative has changed in terms of criticizing what some, this small faction of young protesters ended up deciding to do this handover demonstration yesterday involving 500,000 people on the streets of hong kong was very much peaceful. it was ten times bigger than last year's turnout. so it goes to show how there is that support coming from the larger part of the hong kong public, calling for the -- calling against this extradition bill, and also lots of calls for resignation of a chief executive, carrie lam. the question moving forward is the future of carrie lam will she end up giving more concessions given the latest development or will she turn to more tear gas and keeping to the same mind that she won't revive this legislation bi

merck, pfizer, little by, amgen, biogen, vertex pharmaceuticals all lower.week for this entire sector. there are some court decisions coming our way. we know this is going to last, these conversations beyond 2020. but you can bet that politicians on both sides of the aisle will be talking a lot about this issue. quick snapshot here. health care is among the top three falling groups right now. want to highlight materials and also communications services as part of that group. these groups are really weighing on the markets. if you look to ones limiting some overall losses, a very defensive play. energy, consumer staples and utilities. liz, back to you. liz: thank you, deirdre. i was having a conversation over the weekend about drug prices. i don't know, deirdre, if, is she there? >> listening. liz: i was talking to a doctor who said if the president pushes to lower prices that will hurt innovation. that is the complaint but i'm not so sure anymore. >> their biggest argument their first pill cost them a billion dollars to make. generics come in after. but as a

merck, eli lilly and amgen sued claiming that the rule could confuse consumers.rug makers argue that list prices don't reflect the actual cost as they don't take into account discounts and rebates goi negotiated the judge says that the rule exceeds the trump administration's authority a spokesperson says that they are disappointed and will work with the justice department on the next legal steps >> kate, thank you very much >>> when we come back on this show, hong kong leaders bowing to pressure from the people. and of course those mass protests over that controversial extradition bill with china. we go live to hong kong next >>> and then china's super mario sized problem as another key electronics company says it is moving some of its operations elsewhere. >>> and later, before he takes tourists to space, richard branson is reportedly taking virgin galactic to wall street that all still ahead the ai i need? it's gotta scale across my business. starting here, in procurement, helping us find the right suppliers. then here in logistic, to avoid disruptions! here in

. >> thank you caller: just wanted to know your thoughts on amgen. >> i have to admit it's been a big disappointment it was good, now it's not. i'm not going to recommend the stock. >>> let's go to daniel in new york daniel caller: both my parents passed away in 2017 what do you think of sarepta they a therapeutics >> i think they have the right things >>> evan caller: booyah from the sweetest place on earth >> where would that be caller: hershey, pennsylvania. >> what's up caller: hey, jimbo, just had a question >> sure. he got cut off win stop is one terrific stop. >> buy, buy, buy, buy. >> i want to own the stock and i want to have a franchise >>> kevin in california, kevin caller: booyah, jim. rgnx >> i don't know those particular fellows and i would have to do some homework on that. >>> let's go to joey in illinois joey caller: hey, jim, i'm a 20-year-old college student and i watched your tv show get rich and watch "mad money." my question is about pizza i'm up 2 visa. >> no, no, visa is fantastic you're a young person. you can ride it out. i think it's really very meaningful th

. >> and finally apple, see what kind of attention amg and amgen and celgene get. >> apple is a big onephone sales down 13% more. less, going to trade around that >> all right and then buckle up for a fed decision tomorrow and let get to the judge. >> carl, thanks. i'm scott wapner front and center the fed and real a rate cut all but certain this week the big question will it send stocks surging in the months ahead? it's 12:00 noon. this is the halftime report. >> the fed on the vernal of cutting rates for the first time in about a decade. the markets divided on whether it's even needed, and goldman making a big call on the record rally ahead of it. apple earnings after the bell. the street split over its fastest growing business china sales a question mark, too. under armour having

merck, eli lilly, amgen among the drug companies arguing exactly that in court.ge siding with the companies, hitting pause on a new rule from the white house that was supposed to go into effect today. deirdre bolton is live in the newsroom with the details which is where the devil always is, deirdre. >> as always, melissa. a federal judge ruled that the trump administration overstepped its authority. this is where the courts were coming from, in this case, in trying to get drug companies to feature prices. more than likely it is not going to end here. the government will continue to fight this issue with the department of justice. trump advisor kellyanne conway said the president is not a quitter. he is very fond of the rule that would koppel drug manufacturers to list their prices on tv. again what are they hiding? we want transparency. a lily spokesperson says the company is happy with the judge's ruling, not a huge surprise there. pharmaceutical companies spend big ad dollars to increase chances of potential patients asking their doctors for brand name drugs.

think it is too hard here this is a group that's not a leader, making new relative lows versus s&p amgenry time it rallies sales at a lower high. until you get back above the 180, 185 range play prudently. if you are trading long, use the stock at 173 that has to be the line in the sand in a strong market is this what we want to do, picking losers? i think this is too strong. >> you have democratic debates tonight and guaranteed the cost of drugs is going to come up. >> in the crosshairs for sure. i don't know if for another year we see that and even if ultimately nothing happens, still, for a year you could be facing big headwinds. >> coming up, shares of apple touching after hour highs as tim cook said in the after hours conference call. we are counting down to the rates decision, with the fed triple play. i'm melissa lee, you are watching "fast money" on cnbc. must more "fast" right after this ♪ >>> we've got a news alert eamon javers in washington with the information. >> south korea reporting that the north koreans launched several identified objects, they're not calling the objects

kind of attention amg and amgen and celgene get. >> apple is a big one. >> iphone sales down 13% more. less, going to trade around that >> all right and then buckle up for a fed decision tomorrow and let get to the judge. >> carl, thanks. i'm scott wapner front and center the fed and real a rate cut all but certain this week the big question will it send stocks surging in the months ahead? it's 12:00 noon. this is the halftime report. >> the fed on the vernal of cutting rates for the first time in about a decade. the markets divided on whether it's even needed, and goldman making a big call on the record rally ahead of it. apple earnings after the bell. the street split over its fastest growing business china sales a question mark, too. under armour having its worst day in almost two years. a sales miss and more weakness ahead. is it time to trade out. the investment community is ready to go. the halftime report starts right now. >> welcome good to have you with us on this tuesday. our investment committee at the terrible joe terranova, josh link and the chairman and ceo of the gobell

. >> that's just fantastic amg amgen. love this one. >>> countdown to the fed begins now on "the exchange." >>> thank you, scott hi, everybody. here is what's ahead just an hour to go we will have lots of discussion and debate about that. >>

go talk to the guys in amgen and pfizer.tuff -- percocet, all that highly addictive xanax. that stuff will mess up your life. this won't. lemonis: in desert hot springs, they seem to agree and have issued permits for more than 3 million square feet of construction to more than 30 growers. good for business, but i wondered if the town's reputation would be hurt. are you originally from this town? scott: born and raised. lemonis: scott matas is the mayor of desert hot springs, a self-described conservative. scott: i was a "no" on marijuana use in our community in 2007. lemonis: what happened? scott: the economy went bad. we needed to find another revenue. lemonis: when they put it to a vote, more than 70% of the residents here said "yes" to growing recreational pot. mayor matas doesn't smoke, but the side effects of weed are saving his town. job creation? scott: job creation -- it's taxation... lemonis: think about this. it costs $15 million a year to run desert hot springs. the town could eventually collect $50 million a year

so merck, eli lilly, amgen, a trade group for advertisers brought the suit.rson says the company is happy with the judge's ruling. more than likely there is going to be a bit of ping-pong playing here, because the government will continue to fight issues in the courts. trump advisor kellyanne conway says the president is not a quitter. he is very fond of the rule that would compel drug manufacturers to list their prices on tv. she asks, what are they hiding? we want transparency. 88% of voters by the way, favor a government initiative mandating that insurers hospitals, doctors, other providers disclose the costs of their services and discounted or negotiating at rates, according to a survey. the center for american political studies did it at harvard. it was done in conjunction with the "harris poll.." according to our proprietary research, neil, we remember as we were covering the midterms elections, health care is the number one most important issue, nothing to do with party. this is the one apparently people did vote on, will vote on in 2020. neil, back to

merck, eli lilly and amgen sued claiming the rule could confuse consumers. drug makers have argued that list prices don't reflect the actual costs the junlgts sadge says that th responsibility to act lies in congress hhs says they are disappointed and will work with the justice department on the next legal steps. >> those ads drive me crazy anyway any buy a song you don't want to hear anymore and they -- they do the oh, oh, oh -- and i don't need it whatever the hell it is. it is for some minor thing but the list of side effects -- sounds like you may not survive the side effects for this mine or thing that they are trying to selling to you that your doctor prescribes it. so why are you selling me ten times every break on something i'm trying to watch -- >> didn't that tell you how profitable it must be if a very small percentage of people out there might ask their doctor for it it is amazing. >> and the actors that they have got in the ridiculous things that no one would ever say >> or do like two different bathrooms >> i like that at least they went there

now we did have the big drugmakers like amgen, eli lilly and merck basically suing the hh s saying thisoes against our first amendment rights as well but they were required by law, by the white house to basically list the prices of the drugs if it cost more than 35 author a month and according to the 10 most-consumed drugs that would be about $488 or $16,000 a month you would have seen labeled on some of those popular drug ads. stuart: but now you can't. a judge says no, hhs over reached so you can't do that. >> well the drug company says these are not the prices that the patients pay anyways and if you put 16,000 on the screen they might be saying well actually i can't afford that so i opt go get treatment. stuart: was america always like that? where every single thing, the administration wanted to do was challenged in court and overruled? was it always like this? >> no it wasn't. it wasn't but when -- stuart: you've got a foul face looking at me. no, i agree. we're seeing it more and more often. everybody is protesting. stuart: i can't believe it. >> yeah, it's across-the-board. why i

during the drug supply hearing a week ago amgen raised the issue of lowering the list price of their cholesterol drug by 60%. however, pbms have not shifted this drug from high-cost formulary tiers to lower cost tiers which carry lower co-payments. ms. bass, you testified that the mission of the association you represent, the pgms, is to help control cost. so do you support patients having access to these lower price drugs? it seems that when you have a specific instance like in this one, we're not seeing the movement. >> so i testified that the mission of our companies is to provide access to lower cost drugs. i can't speak to specific company decisions with respect to these drugs, but our companies negotiate to the lowest net costs and namake the decisions accordingly. >> okay. well, thank you. mr. asasi, i'm dead focused on trying to find meaningful solutions to the drug pricing problem. my constituents continue to demand that we find a way to significantly lower the price of medications. in your testimony, you discuss t that while you're supportive of transparency bills, that tra