bio tech value vegasyigss f sma companies are down. and of course, we got news yesterday from third point that they have sold out of their amgen state. they've sold out of this complete stake because we saw bert opportunities elsewhere. that the commentary across the board for big bio techs right now. >> thanks. >> meg, stay with us. >> i'm wondering, they were able to increase price, but doesn't seem to matter for the stock. do you think we'll see that more broadly in the space? >> good question. these big companies still have been increasing prices on their drugs. we talked about biogen still being able to do so, it's other drugs, the old eer drugs, that have more skrcrutiny. that's something third point warned about, hint thag you vont invest in companies with lots of debt that rely on price increases. >> thanks so much. let's trade. this and then we can trade others in the space as well. >> i think in amgen's case, i think the multiple is fair. there's not a lot of excitement in that pipe long island yes, these guys have price in p

we dropped 22% for bio tech in the first year.n 2002, tech had just gone through its dot com bubble. this promise around the human gee gnome project. right now, people say we're just seeing confidence get roaded because people are worried about drug pricing and the election and even the big buying techs, people are starting to lose confidence in them. these big companies need to buy and have a lot of cash. a lot of people are hoping that will turn things around in the second half. gilead with more than 20 million. celgene, there is a wide expectation these companies are going to buy. the question now is is that even enough to turn their stocks around now. >> so, the chart master here is taking a look at health care as a second half sleeper pick. it's a way of capturing both the defensive nature of health care. this stock is more parlayed with some of the lower beta names like pfizer lily. okay. top panel is amge nrn and the bottom to its peer group. it piqued at $81 in august. since that as it has gone down on an absolute basis, t

. >> that's a bio tech investors feel this year, but we'll tell you why the group can be second half sleepers. >>> and, well, you're probably looking at the wrong metal buddy because it's silver that's surging and we'll tell you why it could be going even higher. >> let's get to it. want to see something really scary, check this out. this is what you get for lending the money to the swiss for the next 50 years. next for zero in the hunt for yield in investors have lost their minds. let's see what this means to money. if first thing that comes to mind is the banks. >> the big headlines on the weekend for the brexit situation is the ftse and s&p filled in the entire gaps, but there was a lot of damage done in other asset classes and you're speaking of rates for all intents and purposes. the two-year yield is below. the ten year treasury yield closed down 1.8 last week and touched 1.42 this morning. when you think about what's going on, there's a on the of damage that's been done to the investment landscape here then you put that bank stock index, specifically in europe, out there and l

>> kelly, folks hoping that the second half holds better things for bio tech. analysts calling it a roller coaster ride and the down slide started in september when hillary clinton started to tweak about drug prices but looking at the performance over the first half it's been a rough one. folks hoped far recover in june and got what they're calling a kick in the gut. compared with s&p 500, doing quite poorly for the year to date. now, if you look at the big four bio techs, see the pain is felt even in the bigger names and folks thought you would find safety. all down quite a bit this year. but there are some catalysts in the second half both from smaller companies and bigger ones and people hope turns sentiment around and emphasize really bad right now. take a look at what some of those. sarepta waiting on a delayed decision of the fda on a drug. i was just speaking with an analyst saying the stock could triple if they get approval and expecting the decision in two weeks and could go down to $3 if they're rejected. sage therapeutics, people say it could be unde

>> i don't have a position in bio tech. >> no. just saying. don't think they're sustainable why? >> a couple things. josh, looking over your shoulder at the chart. you're more of a chartist than i am. triple bottom? could well about triple top. looks like it's gone, third time gone to that level. >> it did break through. >> okay. the other point i want to make is, this most recent rise is in lockstep with the market overall. so if this market has been going up on the basis of earnings. >> you're still negative on where you think the market's going? >> marginally. not calling for a crash. >> i didn't say that. >> it's hard to go higher from here. >> and caps in the space are now 20% more reasonable in earnings than a year and a half ago. >> a true statement. >> so looking at it, forgetting a charts. looking at it from your perspective, a high quality company, they're here, getting them as a discounty. getting health care overall cheaper than a lot of sectors in the market that don't have nearly the growth potential. it's hard to find a negative

it's been under pressure the last couple of years because people don't believe in bio tech, but theseuys traded 14 times forward earnings. nine out of the last ten quarter, they've beat or raised eps. they execute and execute well. i think the stock can continue to go higher and for you folks playing at home, as long as the ibp stays above that 285 level, which i think is is critical, it goes higher. >> i'll give a shoutout to josh brown on halftime report. couple of days ago, he said and i can't remember what day it was, that amgen was the best looking chart and stock in any bio techs he'd seen in a long time. a good call a couple of days ago. dpl there are not that many places where you get to buy stocks at valuations below. amgen is one. pfizer is another. >> i like both to the upside. >> up next, your tweets in the final call from the opgs pits. i'm here at the td ameritrade trader offices. steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visua

any trade on juno. >> this is a true bio tech in the orlando world of bio tech.e waiting on your drug and if you get approval, then it's off to the races. >> giddy up. >> thank you. coming up next, final trade. i'm here at the td ameritrade trader offices. steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. td ameritrade. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance

bio techs on watch. bio techs flat for the week and among the best performers.ng way to go to regain bullish sentiment. back to you. >> yeah. we saw a little bit more life there today. thank you. >> happy birthday, by did way. >> thank you! not until sunday but i'm going to take it all in. >> make it a weekend. >> pokemon cake. exactly. >> i'm excited about the cake. >> i know. sitting over there. looking at it. >> i know. >> bio techs. we talked about this at the highs. >> i was like don't go near them and turned out to be right. >> you've made a lot of great calls. >> some bad ones. some okay ones. look. i think -- i think -- i don't -- i don't think that's going to be the thing that takes this market forward. you could see a bounce in bio techs but i really think it's going to still continue to be around. what the german bundt is going and bank of japan rather than that bio tech company had a great quarter. >> not to be silly but pokemon go is a success. marrying the idea of augmented reality with, you know, getting people out of their homes, walking miles an

profe as the world's largest bio tech maker benefitted from stronger demand for its arthritis and os y osteop slightly in afterhours trading, but ended the regular session up at 170.68. sales growth disappointed at whole foods at the chain's same store numbers fell for the fourth straight quarter and by more than wall stre that, the c manage to meet street's target on both prof. shares fell in afterhours on top of being down in the regular session by a percent and finished33.64. meantime, earnings at deutsche bank -- down 98%. year over year. the german bank said restructurg costs result in the latest quarter. the bank's ceo warned that cuts may be needed. shares down nearly 4% at 1363. >>> and nbc universal parent company comcast, topped analysts revenue and expeck tases. results lifted by strength in ceo says his company is on a roll. >> i think it's x1 our video experience that we give our customers with a new box additional top ten. better operationaly good trend. we do believe we can continue this momentum that we'v >> comcast owns cnbc, which produces nbr. shares up 1%. >>> inc

>> the nonprofitable bio techs that they are capital use egg. cost of capital goes up, they go down. access to capital goes down, too. not the big guys, like the celgenes but the small caps, making up a lot of the nasdaq index will go down. just make the point that we say the heck with biotechs anyway and own some of the med devices like boston scientific and hmos like united. if you really wanted to be in biotech own the real estate, the reit that owns the property underneath the biotechs and don't have to worry about pipelining and get yield. >> thanks for coming out. >> thank you. >>> michael gye, thanks. talk to you soon. >> thank you. >>> marissa mayer want to stay at yahoo!. verizon, non-committal. up next, former interim ceo of yahoo! ross levenson, his choice to weigh in and do it exclusively, new at noon on the "halftime report." there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity'

the only thing is bio tech. i know there's head winds, but i think there's value there. most of the big cap names have reported. you can see the sector continue to trade. >> everybody wrote off the retail space. i'm long j.c. penny. >> great trade. stock's up 48% this year. >> it's really poppeded again in the last couple of weeks, so i'm maying this for a lot of fundamental reasons, but also playing it because retail was thrown out. >> guy. >> refiners, i think they reverse earlier this month. i also think tlt stopped. if you look at yields, stopped where tim said it was going to stop a couple of weeks ago. 1.6%. i think that's headed back down to one and a quarter and the gold market, regardless of what you think b about gold, it still works. >> a news alefrt on the result of stress tests on european banks. wilfred. >> thanks so much. european banks have survived stress test, but troubles remain. the chairman of the european banking association said while we still recognize the extensive capital raising, this is not a clean bill of health. there remains work to do. the

. >>> check out the bio techs for month of july. always a volatile sector.omeback mode for a lot of these. amgen up 14.5%. biogeun 21.3%. >>> zika virus was a source of concern for americans heading to rio de janeiro for the olympics but as of this morning, it is americans across the southern part of the country paying much closer attention. meg terrell with the latest on the spread. meg? >> that's right. today cdc and the florida department of health saying we have four cases of locally transmitted zika virus here in the united states via mosquito. this is the first local transmission in u.s. states by the mosquito and the cdc says throughout the summer months we could expect to see more cases. now, we do have the two mosquitos that transmit the zi covirus in the united states. you can see here we have a map. the one you see in blue there and then yellow, the main transmitter of the zika virus. we have seen the four cases in a very small area of miami. and of course, we have heard that president obama has been briefed on this situation. and he is, the white

. >> stocks are like the new bio tech ipp oz. the zbl the dow could be down 400 points, but clorox is at new high. >> do you think these are the absolute trophy properties sort of the cream of the crop? how long does it take until the ipo market rs really open and in a, i would assume the ones that are ready to go now will do nicely because they're really good. >> what you want is companies number one that make a profit. or have a very, very clear path to profitability. all of these companies generally coming out now have either profitable or cleared past the profitability. i know coolers doesn't sound exciting, but they make money on a regular basis and when your coming out of the the kind of disaster, that's what you want to see. because that's what weem want to for cutting the price down. >> bob, thank you. at the new york stock exchange. >> those cooler, they keep your chili chilly. >> or sasquatch. another name for it. big foot. sasquatch. >> wow. talking about a marek of coolers and food manufacturer, dwofl balls. >> that's

bad news for bio tech, gilead.eg has the latest on both stories. >> thank you for that little ad lib there. gilead falling after reporting disappointing second quarter. actually, the second quarter numbers beat, but it was lowering the full year forecast on product sales by about $500 million. as well as the hepatitis c number. the two big drugs coming in slight sli under estimates. also launched a new combo pill which did about $64 million in sales. analysts just trying to peg what the future for this combo looks like for gilead. listen to the ceo. >> while there has been a slowing of treatment compared with a rush of patients -- first approved, the market has attracted longer term providing good revenue, strong cash flow and earnings per share. >> so, the company saying there's 1.5 million hepatitis c patients in the united states who are diagnosed. lots more people for them to treat. however, you are seeing shares trading down. moving oaf to celgene, it was testing its big cancer drug. this was called the remark

. ♪ >>> big far ma and bio tech. the impact today at noon on the halftime report.l see you in about 15 microsoft announcing more job cuts today. 3,000 people will be layed off. and the noki it bought for $7.2 billion. this is after the company cut close to 2,000 jobs back in may and as it prepares to sbi grate linked in and it was interesting that we're getting an insight into the fact that microsoft continues to watch the bottom line even as it seeks to grow we're going to have to find efficiencies here as the price gets higher. >> so you don't think these are baked in from the write down they took last year. >> i don't think that's entirely clear but it does appear they're taking a further step back from involvement in the hardware business that they had interesting given the google call when asked about the hardware transitions and where the projects are going. he said we're being more disciplined about how they approach those things. >> continues to sell more microsoft to make up for pain the other areas. that's one to watch as well. let's get to the cme group

this is a bio tech company that makes seeds and the zike guys wouldn't indicate that you have two bidders. that's remarkable. >> let's get to j & j. >> important thing is a modest pull back today. this is the important sectors. this is not at all unexpected. we've been up upon out of the last ten days on the s&p. almost 90% of the s&p 500 is above its first day moving average. that's a lot, and thank you to ka katy stockton at btig. banks still holding up pretty well. all the major banks have generally beat on earnings expectations and more than most people had anticipated, that is one of the pleasant surprises for earning seasons. if you take a look, we're looking at materials a little bit weaker. the dollar got strong as soon as the june housing numbers came out, although may was revised downward. some of these material names have had a good side, as well. speaking of home builders, there's big question of how much demand has been met. they're generally traded to the upside but they've had a fantastic run this month. some of big names are up double-digits, for example like besers up dou

i want to call your attention to bio tech up over 1% nearing the highs of the session.best day in more than a week and also on pace for 3 consecutive weeks of gains. today it's the large cap names leading the index higher and celgene is up over 3% despite recent gains. the index is still in bare market territory down about 31% from its recent highs. we'll have to see if earnings changes that picture. >> thank you very much. in political news today donald trump was expected to choose indiana governor mike pence to be his running mate but in the wake of the tragedy of france the campaign has delayed any official announcement and republicans are set to gather in cleveland for their nominating convention next week and the trump candidacy is still facing resistance from business leaders and traditional republican base and joining us here at post 9, new york columnist jim stewart good to see you as always sir. >> nice to be here. >> you might think that donald trump who is a business man himself would get more support from big business but that's not what you found. >> defini

. >> we know bio tech was hit hard in the first half of the year but the second half, july 1st, there's catalyst many

multiple names and the value trades, the unloved sectors, the sectors that nobody wanted like banks and bio tech starting to act better and that's a playbook for the second half of the year. >> peter, this morning the dollar stronger in part, the british pound weaker, euro weaker. flash pmi data, for the uk especially weren't all that hot and the dollar index now at 97.5. it is going back up towards maybe not the year to date highs but headed that way and see the pressure on oil and other areas and this afternoon to feed into that dynamic. >> yeah. i mean, you look at the dollar and you have to be a little concerned about the strength in it. i think that that's going to play out in the second half of the year. it's going to impact a lot of the multinationals earnings, it's going to make it worse. so i do think that that's something to be very, very conscience about. one of the things that i think that we need to be aware of is that i'm just looking at the numbers here -- >> i'll get out of your way. >> the market's getting tired. i think we are at a very tired phase. we are reaching new highs ea

the bio tech company said that ceo is leaving in the coming months and that it is actively searching for a replacement for him. the stock up today by 6.7%. kelly? >> thank you, bill. >>> a topic not getting quite as much attention this election cycle is housing but the recent survey by zil low found that some believe that mogul turned candidate donald trump could have a negative impact on the housing market if elected. zillow surveyed on how each candidate could impact the overall economy. trump didn't fare well and while most hillary clinton would have a positive impact. so, for more on the housing policies, bring in ed grady, chairman of the national homebuilders association. you're here supporting donald trump. >> we're supporting housing. we are talking about the issues. we met with the policy people and we have been involved with them for -- throughout the campaign just continuing to talk about the issues that are important to housing. >> so are you going to philadelphia next week? >> yep. >> you're not picking a side sort to speak? >> no. we're bipartisan. so, you know, we know

a note out today of sectors around the presidential election and health care, a big component of bio techr the election and lines up with that predictive second half better performance. >> average target price about $70 more than the current stock so something has to give. >> yeah. chipotle, morgan stanley is downgrading it. of those people 720 actually eat at cmg. 13% say they'll not go back any time soon and another 13% reduced the frequency of the visits. morgan stanley believes the sales recovery protracted than the market believes and will have to ramp up marketing spend, ie promotions, giveways to lure back the customers. >> either way, this has been a tough run for investors. three years wiped out. literally in mid-july, chipotle at $405. mid-july of 2013. three years of gains wiped out. tough story. today is sealed air and a $9 billion company, doesn't get a lot of play. citigroup upgrading to a buy from a neutral. $56 target. they note the lagging stock performance since reporting in april but they believe that concerns over brazil and brexit are overdone and sentiment is too neg

. >>> bio tech firm is ready to explore a sell to one of several suitors. san if i has signed a confidentiality agreement. gives access to a treatment that has produced positive results in mice. >> you can't say that something is not material to a stock. that's -- it's not his position to say that. number one the stock did go down. it was material to the stock. maybe he meant it's not material to the finances of the company, but he can't say that either. you don't know how things play out over time. when i first read it, it's like, okay. so not surprising. things are going to happen with autonomous -- you know, there were wrecks all the time. so many people die on the road that are driving so there's going to be wrecks from autonomo autonomous, but then reading the actual details. normally a semiturns in front of you. you're slowing down a little. this guy straight turned thing. didn't even think about decelerating. that's where it gets a little scary. >> who should determine when something is material or not. >> remember apple didn't think getting a transp

bio- hacking.. where you hack the body and the brain. it includes everything from fasting.. to so- called smart drugs. only on 5: betty yu talked to tech insiders who say, it gives them the edge they need - to get ahead. nats (breakfast) paul benigeri hasn't eaten in 60 hours. nats paul "it was >> it's dee picked in the movie -- depicted in the movie limit less, a top secret smart drug turns a writer into a wizard. >> why does your protect appeal to silicon valley entrepreneurs? >> i think they are -- like athletes. olympic athletes, tomorrow performing athletes -- >> you have the type a personality guys who are able to create amazing things, so i just -- >> reporter: the fda is not really keeping up with smart drugs. because they're not recognized as a class of drugs. many are sold online. >> it's an experiment, people are experimenting on themselves, basically guinea pigs because we haven't done studies to show the safety or effectiveness. >> reporter: sonia says the world of smart drugs and supplements can be murky. >> they don't make you smarter, at the may make you feel like you can focus, like you can do your own personal best. >

tech. i know people don't like that's what's supporting the tape, but we have to trade the market that's in front of us. and i also agree about the biosthe ibb is at a very technical, or important spot right around that 275, the down trend it's been in for the last year and a half. if we can get above that with some decent earnings, i think that can play catch-up, and i believe there's an opportunity there. liz: yeah. that right now is up about half a percent, it's the nasdaq biotech index. great to see all of you guys, scott, todd, luke. our traders watching the record right now. you guys have to keep an eye on this. we've got 37 minutes left. and by the way, you can't tune out after that. you've got to keep it here. 4 p.m. eastern, yes, earnings from netflix, from ibm, by the way, and yahoo!? yahoo!, today is the day, folks, that final bids for core asset9s of yahoo!, once the great, great search engine of silicon valley, kind of getting chopped up and chewed upon, the leftover bones, verizon, at&t, quicken loans, they're all trying to buy pieces of this. you'll get the story after the bell. closing bell, 36 and a half minutes befor