the amgen race is from sacramento to pasadena. every year as you might know for the past 14 years, the race has rolled through the bay area. really cool to see all these pro cyclists. but today the amgen tour of california, organizers, say it's off, not happening for 2020. organizers say it's hard to put on the race in terms of the new dynamics and finances, so they're taking a one-year break. it's not gone for good. the amgen tour could be back in 2021. >> we're going back to the wildfire coverage. for those losing their property, the road ahead can seem dark, but for those who have been through it, they know there's hope. >> garvin thomas brings us a story about a fire two years ago. >> reporter: it's not very often these days that nicole morley, shanna olvin and their five other childhood friends from minnesota are able to get away for a girls' weekend. when they do, though, there 's lot of laughing, reminiscing and wide drinking. >> is it inappropriate to drink red wine at 10:00 in the morning? >> no. >> reporter: the last tim

and amgen, i'm not sure about.ot of upside in the near-term, but they've got such a great product line, but it's early stage clinical so we're not even going to have proof of concept information until next year. but probably not much downside and these numbers were encouraging. >> mike, want to come back to the broader markets. what happened intraday to apple and the rest of the tech names >> it didn't seem like there was anything in particular there was a little bit of a general unwind of the megacap tech trade for alphabet, it was a little bit of a static yip quarter and it wasn't received all that well, but it also was at a high. apple also at an all-time high going into a fed meeting it seemed like a little bit of skimming off the top of stuff that had worked very well. >> in terms of the broader market, certainly all eyes will turn to the fed come tomorrow. but in terms of what made markets drift lower today and into the close, it was really these headlines around u.s. china agreement and whether we could actu

amgen will also work on developing 20 new cancer drugs.ll-cash deal values amgen at a 20% premium from wednesday's close. shery: saudi arabia is reportedly considering an increase in lending for aramco's ipo. the saudi bank met this week to discuss how much leverage they can offer investors. some financiers are said to want to offer bigger loans than what is normally allowed. the regulator wants to ensure they are able to maintain ample liquidity. plenty more coming up. this is bloomberg. ♪ paul: 9:30 a.m. here on a very smoky sydney morning. looks like a disappointing barbecue. futures pointing lower by .3%, following u.s. equities down as well. i'm paul allen in sydney. york: i'm shery ahn in new . let's get to first word news with jessica summers. jessica: hong kong's typically exuberant halloween celebrations were muted thursday night amid standoffs between police and antigovernment protesters. police fired tear gas to closede large crowds and the most popular nightlife district. courtsle, hong kong limited online speech and band inter

. >> we got a news alert on amgen. >> reporter: amgen is making a big bet on china's growing oncologytriking a partnership with china as part of the deal. amgen will acquire 20.5% stake of the company for $2.7 billion. that represents about a 25% premium on the closing price of beijing's adr which trades on the nasdaq in terms of drug development amgen and beijing plan to collaborate on 20 cancer focused medicines from amgen's pipeline in china and other companies. the chinese company plans to contribute up to 1.25 billion to advance those medicines. amgen's ceo dismissing any potential political concerns and heighten u.s.-china tensions saying the company is very interested to continue to build out its business in china and doesn't expect any political push back. amgen's executive vice president cited the fast base regulatory reform process in china as a catalyst for the partnership we're looking at shares of beijing, the chinese company up about 6% here in extended trade. interesting deal back to you. >>> thank you very much for that we'll get now to pinterest earnings which just hi

this is a $54 billion company that could be worth double last night amgen reported a better quarter thate management to cut their forecast. amen i'm calling that a win with these guys amgen started to win back major market share in the migraine business their key franchise amovig had been the market leader until eli lilly started making major inroads with the drug distributors and drug stores amgen hasn't done such a good job. last year i want on the phone with mckesson for hours and even when i got it they wouldn't send it for where i want td to go they were horrendous now that amgen's getting it into drugstores on top of that they're just scratching the surface with the sore yachtic arthritis drug they bought from celgene because celgene had to sell it according to the government to merge with bristol-myers. speaking of bristol-myers it had a superb quarter too i expect the celgene deal will make them a fortune once it closes in december it still has a nearly 3% yield, sells for 12 times next year's earnings i've been saying by bristol-myers. i'm confident the numbers will be good. mor

the amgen tour of california is going on hiatus. organizers say right now that only means there won't be a race next year. some fear it will be worse than that, because they're also trying to formulate a workable business model going forward. the amgen tour began with the spirit race in san francisco for its first event in 2006. it's been credited with bringing in billions of dollars to california's economy. >>> dub nation turning rainbow at chase center. the warrior also celebrate its annual lgbtq night. the game includes special in-game performances. the warriors won monday in new orleans, so far their only win of the season. tonight they'll try to get their home win against the phoenix suns. >>> world series game seven tonight in houston. >> last night the nationals responded when they had to with the trophy on the line. game six packed a lot of drama, a controversial call in the seventh inning that got former giant and current nationals manager dave martinez ejected but next batter up, washington's anthony rindon hit a two-run b

in this tale it is david and goliath is amgen, going after the same target.et in the community. it's for a number of cancers including lung cancer. am dpen gone back to the big cancer conference in june and mireati's has traded on that a look at their drug at the conference in boston the stock could swing widely based on what we see le leerink. it would have to be superior to amgen's and worst case it wouldn't work or safety issues many expect something in the middle jeffries, the company articulating more caution coming into the event in terms of how many patients will be included in the update. guys, it could be a lot less conclusive than many would hope. >> you know this name? you follow it? >> only because it's up so much. i haven't gotten involved in it. i was looking at the options there's nothing but trades looking at the 80 calls expiring november 15th, $11.50. that means you've got to get to $93 just to break even in a short period of time of course you'll get there tonight or you won't it's really binary. >> as many of these things are. >> right. >>

and the stock has traded largely on reactions from amgen's data going back to the big conference in. eastern, we'll see mirati's first big conference on its drug le leerink has the biggest potential moveses up 70% on good news, down 60% on bad. just a few minutes away and we'll bring that to you. >> we have three minutes left of trade and we are just off a record all-time closing high for the nasdaq the number to keep an eye on for the nasdaq, 8330 we are just four points below that at the moment the s&p comfortably set for a record all-time closing high the dow still around a percent or so from its own level mike has been looking at the market sbernls >> the index has been levitating all day but breadth has lagged a little bit take a look at new york stock exchange up and down stocks, it's not that far above halfan half which shows you there's a lot of the recent winners being sold. if you looked at the stocks in the red today, it's a lot of defensive stocks, home builders, some of the stuff that's really been a winner. and now also take a look, just in terms of style. the high bet

why cyclists won't be racing in an amgen tour. you're watching "today in the bay." >>> develop in southern california, three people are dead, nine others injured after a shooting at a home in long beach, i t happened a little before 11:00 last night and there are reports the shooting broke out during a halloween party. firefighters describe it as a very chaotic scene with victims being treated outside a nail salon next door. the shooter this morning is still on the loose. >>> as many expected, rideshare companies including uber and lyft are helping push a new ballot drive to overturn california's gig economy law that makes it harder for rideshares to classify drivers as independent contractors allowing them to be entitled to benefits. an uber and lyft backed group announced plans to launch a petition drive. >>> l.a. schools are the latest to target san francisco ecigarettemaker juul. the district is launching a class action lawsuit, the claim accuses juul of launching a vaping epidemic, arguing schools are losing money due to abse

targets they will bring to us that we will build new drugs around we also have a partnership with amgendiovascular drug we're developing they will commercialize that i think that what they saw was a really powerful technology that as you say can silence genes that cause disease and it is a hyper specific process whereby we can silence a single gene, and it is now a validated technology we know it works we know we can do it in a well tolerated manner and to the extent that we choose the right genes, we could have a substantial effect on people's lives. >> j&j, your deal there is humongous. it's 250 million more than $3 billion in milestone payments over time how does that work so our viewers know what to see. >> sure. so the deal is this. it is for our hepatitis b drug that they have now moved into a phase 2 study. and it is also for three new targets they will bring to us. we view that as found value. these are gene targets they will bring to us, and we will develop drugs around them. they don't come from our pipeline so as we push those, or as they push those drugs through the clinic a

quickly on amgen because i think it's important to bring up up that was a good quarter. understand what meg said, raised guidance now basically in line with the street it doesn't mean the stock is still not cheap. at 13 times next year's earning it's one of the cheaper biotech. and enbrel they increased by 6% which is a good sign 208 was the level it topped out a number of times back to late 2018 that's where we are now, that's the bogey. but i like the stock. >> let's move to amd that's moving higher on the results erik chemmy with the results. >> volatile session for amd adding to a mixed bag for the chip sector this season. amd missing wall street forecasts on sales barely but beat in the importantly data clernt category. the computing and graphics rose 36% beating analyst protections you about two point of weakness guidance for the quarter coming in light and could be a point of concern as rival intel said it anticipated strong spending in data centers the rest of the year another worry gross margins came in only in line with expectations remember intel despite stron

amgen off by 1% in after-hours trading. >> we also have results out of dropping after third-quarter revenue missed estimates. $279.7 million, missing the mark, north of $280 million. loss of $.23ss, a per share. monthly active users, 322 million, better than expected. the top line does not match what analysts were looking for. getting smashed. off 20%. a formerh us is chief and also a derivative strategist. tumbling.interest volatility or sectorsdo you see in like technology versus other parts of the market? wethat is the question, will see the value sectors outperform. is we expected global ip momentum to trough in q4. upside, weooking for .ike emerging markets if you're looking for exposure to cyclical pickup, that is where it is cheaper right now. trough now, we have but there are sectors that will continue to do well. are describing the optimism you see in the s&p 500. when you look at international aspects to the market or cyclic ly expose, you don't see that euphoria?i fallenied volatility has to lower levels as a percentile. bullishlso seeing more positioning in the emerging-market r

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.

scarlet: another company moving higher in the after-hours trade is the biotech company, amgen. third-quarter revenue and profit topping analyst estimates. it boosted its full-year forecast. it now sees the full-year earnings anywhere from $14 and $.29 to 14.45. analysts were looking for 14.41 average. oreos.e: let's talk let's talk dairy milk. we're seeing third-quarter adjusted earnings. of $.60.he estimate better than expected growth. they see organic revenue, not organic food. excluding m&a, up 4.2%. better than the previous estimates. we will be speaking to the chief executive tomorrow. scarlet: we just want to update you on what is going on in the u.k. caroline will be speaking with the ceo of mundt police tomorrow morning. more developments in the u.k.. parliament has become voting on the early -- has become voting early on the election bill. they're going to vote on the general election bill. this would be for the state of -- for november 12. luke.with us is sarah, or to begin? health care was front and center today. if you look at the dow industrial, the best performers

. >> amgen into the earnings later this month. >>ee y sou tomorrow for more fast "mad money" starts right now. >> "mad money" starts now. mchld welcome to cramer -- you want to make friends i'm making money my job is to educate you cull me at 1800747 so tonight we're going to take a step back, try to put all this discipline stuff into perspective. if you pick your own stocks, the thing you need above everything else is judgment obviously good investigating judgment isn't something you can be taught in a month or a year i try to give you the tools you need to develop your own judgment all my best professors in college focused on teaching us how to be a better investor, not just tell you the stocks that ii think are good investments the problem is that's a heck of a lot to process when you're managing your own money, before any other consideration, you need to know yourself you simply can't know which stocks you should buy if you haven't taken time to consider what your own personal obje objectives are are you just trying to get a d

. >> amgen into the earnings later this month.e fast "mad money" starts right now. >> "mad money" starts now. mchld welcome to cramer -- you want to make friends i'm making money my job is to educate you cull me at 1800747

look at your mercks, amgens, pfizers, bristol-myers.se stocks are probably where it is right now for the investor, at least for this one. liz: phil, the yield on the ten-year is really strange to me at this point. two days ago we were at 1.81%. look at it today. we're down 11 basis points at 1.7%. what do you glean from that, and does it sour you on sock it is or change any -- stocks or change any of your perspective? now we're at 1.69%, 12 basis point. >> it makes me even more bullish on stocks, come on. if you can't get money in interest rates, you're going to have to move away from bonds and into the stock market. yeah, we get back to this whole u.s./china trade deal. sarge is right, we've been in this triangle, i wouldn't call it ascending, i'd call it the bermuda tria angle -- [laughter] it seems like everything disappears. at the end of the day, listen, i think we are going to start to go up. we do talk about trust. you know, that story from bloomberg, kind of unsourced this morning saying that xi doesn't want to make a deal. i i

the amgen tour cycling race, the iconic race in california is being canceled for next year.zers are postponing the international competition and when they plan to you back. >>> plus hollywood is getting ready to fight netflix over its speed watching test. we explain what that test means for viewers and why hollywood is fed up. >>> first, how we popular food truck company is doing its part to help after the kincade fire. >>> welcome back, 6:56. well-known movie and tv actor comedian john witherspoon has died at the age of 77. he had a long entertainment career starting in the friday movies, and made several appearances on the sitcom the wayans brothers and was the voice of the grandfather in the series the boondocks. he leaves behind a wife and two sons. >>> election day is next tuesday. state and county officials are getting ready for the possibility of power shutoffs or maybe even another wildfire. the state secretary of state is advising each county to come up with a contingency plan before each election, and voters are encouraged to vote by mail or vote early. the sonoma

i amgener if esteen, a -- i am jennifer esteen and i have worked a z a nurse serving those with psychiatric illness and the last four years have been in placement and helping people who are currently conserved get permanent housing after they have been treated in emergency and crisis services. i also because of my job work with people in treatment programs and make sure they are eligible for the services they receive and that the programs are providing with the city contracts their services to do. and because of that, i feel uniquely qualified to serve as a labor representative for the seat with the housing conservatorship working group. >> superviser ronen: thank you. >> you're welcome. >> superviser ronen: thank you. ms. short. >> good morning. i am sara short and really excited to be considered for this position, and here's why. i need to read this. i have a deep passion and commitment to the dignity and rights and respect of those living with severe mental health conditions. and those who are self-medicating the impacts of trauma by using substances. i also have a wealth of experience w

. >>> next are there will not be in amgen tour of california cycling race.eg sports for 14 years has sponsored the race. the officials say a change in business model forced him to cancel the race but they say the race will return in 2021. the race has stages in several california cities including the bay area and draws elite athletes from all over the world. >>> the fed cut interest rates by a quarter point today in the market is reacting. the dow jones is up more than 100 points. the nasdaq and s&p 500 are slightly in positive territory. the 29th annual ywca inspire luncheon is underway right now at the santa clara convention center and a major figure in the me too movement is being honored. this afternoon doctor christine blasey ford will receive this year's ywca empowerment award. ford, a research psychologist, received national attention last year when she accused then supreme court nominee brett kavanaugh of sexually assaulting her at a party 36 years ago. the keynote speaker at the event's civil rights activist dolores huerta. >>> governor newsom visit

it is unbelievable i keep believing i look at regeneron how stalled it is, bia marine -- biomarine amgen has been a terrible performer. the big biotechs have been -- celgene, remember bristol-myers keeps going up i think bristol meyers is a stock to be owned. they are doing good things by the way, the cheapest drug stock alg. allergan there is a pill they have migraine sufferers as the folks for the american migraine foundation they have a pill for you a kite migraine there has never been a pill. you get a mieg dpran, boom you take the -- migraine, boom, you take a pill, the pain goes away. that's what they need to replace one of the biggest drugs ever. it's huge. >> one of the components of healthcare that did see some increases in inflation this month. >> yes >> obviously >> the democrats have never really been against biotech making the big money >> it was yellen >> yellen, she didn't like playing the biotechs again, elizabeth warren, there was a good piece today about senator warren in the journal about what our life would be like with her. it would be different is the way i can desc

let's look at the nasdaq biotech ticker you have amgen pull being back despite beating earnings and raisingthe ibb and ticker ihf are up more than 7% mondth to date health care the top performing sector and on trend to break a three-month losing streak. >> good morning, everybody iran and russia criticizing washington's plans to protect oil deposits in syria, accusing the u.s. of illegal actions. >> we believe that the territory of syria should be controlled by the government and military and armed forces of syria and they should be responsible for providing security to syria and to the neighbors of syria. >> russian forces patrolling long the syrian/turkish border in northeastern syria, russia has deployed troops in that area as part of a deal reached with turkey to ensure the removal of kurdish fighters from the bored are area >> and more than 500 items of actress and singer olivia newton john go up for auction scott, i'll send it back downtown to you. >> boeing ceo dennis mullenberg back on the hill for a second day of questioning phil lebeau caught up with him moments before going into

its news it is seeking fda approval for its alzheimer's drug along with biogen, celgene, gilead and amgenng >> shares of biogen are up megterrell has been following the story. a question to you, many of us remember when we initially got the results from this same trial back in march andthe stock fel dramatically this morning we get the news that they're going to submit perhaps as an early 2020 a new drug application based on additional data on different dosing explain to me what changed as to why something that seemed to be a fail is now potentially going to be seen as a suck es? >> it is a fascinating story, david. this was a drug that everybody thought was completely dead. we can keep scrolling up the news in march wiped more than $15 billion from the market value and quashed the hopes of millions with alzheimer's disease and targeting the amyloid buildup in the brain biogen says a further analysis of more data that became available after its initial analysis showed the drug called aducanumab appears to work slowing in declines in memory, language and ability to think clearly that are h

i -- look, i think there is some people on the board who really -- there is a fellow from amgen.s had to deal with fda, which is not -- not like the faa exactly, but he's had to deal with this. he's very supportive of muilenburg i don't know i kind of feel like he's in a situation where he's okay right now. that split was a tough one on him. >> covering this verse, along with the gm earnings today, is our own phil lebeau, as we look for an entrance out of muilenburg here. your thoughts and sort of -- i don't know, where is your head now on return to service >> well, they believe that it will be return to service, meaning certified by the faa by the end of the year. and that may still happen. there is certainly a possibility that could happen. but in terms of the flying public, that's not going to happen until early next year and, guys, as we speak, dennis muilenbu muilenburg, ceo of boeing is walking in, he'll make a statement before the hearing. >> let's listen. >> appreciate the opportunity to be here today, we look forward to the hearing and very focused on everything we can d

shortage of stories to tell today at&t already out earlier this morning alphabet, spotify, t-mobile, gm, amgencan throw a starbucks in there after the closing bell on thursday, pinterest just because of that ipo hype, what exactly they can do. that will be a big one there altria chevron and exxon typically report together on friday. if you take a look at all of these, it's because we are now getting through that large part of earnings season if you take a look at things so far, as things stand according to data from refinitive, with nearly 200 companies in the s&p 500 reporting, if every single company reports as expected for the remainder of the earnings season, earnings growth will be down about 2%. revenue growth up about 3.5% that's how things stand as we head towards the busiest weekend of earnings. by the way, andrew, that 2% decline in earnings, if you strip out the energy sector hypothetically, right now it's poised for a 39% drop in earnings growth. if you strip that out earnings season could actually be up half a percent this time around worth watching on friday when chevron and exxo

amgen, biotechnology, nice gain, 1.25%. amazon is up. look at apple. that's nice. $224 per share.oduction of the iphone 11 by 10%? susan: as much as 10%. stuart: that would be an extra -- susan: $7 million to $8 million. ashley: fascinating, there was so much made, will people wait for 5g technology to kick in before they upgrade on the iphone. apparently not. demand is strong. susan: yeah. what we call the, you know, we call the upgrade population of the iphones, it's around 200 million because you have iphone 6s that are older, still around the globe, 1.5 billion of these iphones around. a lot of them are older, 200 million as i mentioned. they need to upgrade when there's a brand new technology out there, brand new, you know, cameras as well, and longer battery life. stuart: i think we'll make apple the stock of the day. why not. look at the market from jonathan hoenig's perspective. he's the guy that runs a hedge fund. capitalist pig. you are the capitalist pig hedge fund guy, aren't you? >> indeed. great to be with you, stuart. the jobs number is i have a look a little bit un