what happened to biogen well?st you need to know why it it had traded up to 109 and we kind of trace things out. this stock began rallying and rallying hard last december. that's when they first presented some strong data from the early state study for the experimental alzheimer's drug. nobody expected results that showed biogen's drug working. remember, this was phase one. that kind of thing is basically supposed -- that's supposed to valuate whether or not it was safe. instead, we got some fabulous data points on efficacy for disease that's notoriously hard to treat. given that many pharma giants have tried and failed to come up with a workable solution, this this -- this shot up from 308 to 347. and since then this share never retreated back below the 325 level. at least not until last friday. now biogen had been roaring for years before then, but after the alzheimer's data the company had a whole new leg to the growth story. keep that in mind. then when biogen reported at the end of january the company proit r

i look at biogen today, biogen scared people there's no doubt about it. you had celgene come out and scare people again. i look at some setups and a few trades and i think we're going to get to a point where you step in, you buy them. i think you get to buy amgen no, questions asked, at these levels. news came out on celgene, basically scared people in amgen and i'm telling you right now at the stock -- i think 158's where the stock went out. it's a close your eyes buy amgen level. >> to me i'm not sure -- yeah. biotech i'm not sure there ever is a close your eyes and buy. in this type environment. certainly a month ago, certainly six months agoes that's what people were doing. but for the same reason i was raise soing some cash in other s of the portfolio i think it's a no touch here. i realize a lot of the other bellwethers are with a pullback. valuation could be justified. it's just not me here. >> one point to add, though, i think biogen although it could scare people what it could set up is who are they going to buy? they have a growth issue. they're

now, with biogen that's a huge name, obviously.lier this week there were some mixed reactions to its alzheimer's data but today it was really the earnings report and the lowered forecast for the year for its multiple sclerosis drug that god people very worried. now folks are saying saying if that drug is growing more slowly and we're not totally sure about the alzheimer's drug where are we going to get growth in biogen. people are starting to beat the m&a drum for biogen. however, one bright spot is exilixis. that stock going up 43%. the best performer in the nasdaq biotech index for the week. but looking ahead to next week we have a biotech and pharma earnings bonanza on tuesday. pfizer, merck and gilead all reporting. now, gilead kind of the same theme as biogen, wonder whog they're going to buy. these are the companies biotech investors are starting to ask now. even of these big biotechs they're asking where the growth is going to continue to come from. >> is there any reason to add these earnings from gilead next week? >> a lot

you have an outperform rating at a $409.50 price target on biogen. that you heard today that will make you want to either raise or lower that rating and price target? >> no brian. i think today's data sets were pretty much as previewed. remember we had already gotten an update on this trial back in march so the incremental news a today was on the margin fairly modest. we are right where meg indicated most of wall street was. we believe this a coin toss as to whether or not this drug works in the subsequent or later phase trials. beauty is from biogen's standpoint, if there is even a reasonable chance at all that this product works, the market is so substantial, maybe $10 billion, 15 billion mr.$15 billion, you just to have some money invested in biogen. >> any good news is incremental? >> no. i would say consensus view is pretty close to our own view that this is a 50%-50% proposition. it going to be a big buyer event. we won't get these ultimate data sets for another three or so years but that's going to be the all-time biggest biotech binary probab

biogen is going to have a brutal day. >> and it should.e end of last year they gave you guidance for a drug they thought could grow 14 to 16%. they're saying now it's only 6% to 8%. that's a rohorrendous buy down. >> they already had preloaded the talk about their alzheimers drug. my work says even if it goes well it's 2018ish. there's a big gap. to get them historically has been a big mistake but this is a shattering series of gaffes to the people who have loved this stock. this is one of my big four horses. they have to come up with a whole here. regeneron is going to come up with the winning anti-cholesterol drug which is on the verge of approval. it's the biotech to focus on. yesterday was celgene. gilead is going to buy someone. >> can i share one fact with you? do you know what has the most debt capacity of any pharmaceutical company? >> even more than triple a j&j? gilead? >> correct. >> that was supposed to be in the form of a question. >> what is gilead? >> it is a free cash flow machine with no debt. we have so many other things

bio bio biogen and eli lilly announcing ways to slow the disease. >>> and historic steps in the u.s. and cuba. after five decades, they're reopening embassies in each other's capitals. the move formally extends diplomatic relations between the countries and sets the stage for growth in u.s./cuba business relations. >>> i'm mary thompson. get all your news on cnbc. >>> we're following breaking news from south philadelphia.

what i would say is the biogen data looks very promising, and so we remain very positive on the biogentrading at 30 times earnings. all right, we'll leave it there with the bullish case. thank you, michael ye. >> in the meantime time for a cnbc news update this hour with courtney reagan. >> here's what's happening at this hour attorney general loretta lynch says a grand jury has returned a 33-count indictment against dylann roof. including hate crime and firearms charges. she says no decision has been made on whether to seek the death penalty. >>> well defense secretary ash carter meeting with saudi king soloman says he expresses reservations on how effectively it will be enforced. afterwards carter says the king will visit the u.s. in the fall. >>> two men were held after being accused by the u.s. attorney in new york of trying to cheat millions of people and a stop span case. the men are accused of manipulating trading in u.s. securities since 2011, a third person still being sought. >>> well french farmers blocked roads and set fires to protest what they say are artificially low pri

bad day for biogen to say the least. >> it's been a tough week for biogen, lowering guidance for salesngs for the year on slower-than-expected growth of its multiple sclerosis drug. they cited safety issues that they said may be making doctors hesitant to prescribe it folks asking a lot of questions about m&a. we've got a glut of earnings, tuesday, merck pfizer gilead. big ka hhuna is gilead, folks looking at the hepatitis c franchise to come in at $3.1 billion to $3.4 billion in the quarter. the question is the growth figure. everybody is listening to what is gill yacht goiead going to b. that's what people will be looking for on tuesday. for other companies it is the new products and how they are doing. gilead, it is what are they going to buy. >> is there a true read-through? the uptick wasn't as robust as expected. >> animalysts don't see clear there is a 100% correlation but you would expect they'd move in similar ways. gilead is trying to work out pricing situation, increasing access. there's a question of whether giving those discounts has actually yielded higher volumes. >> pip

, buoyed by consolidation, all this sort of stuff and one of the largest components in the sector biogen was down 0% in one day. if you lose biotech, you lose everything. one of the big anchors. market, at least the bull market. >> transports in the commodity trade impacts a big swath of the transports like rail when you see coal with low prices and volumes are down for rail. >> it's definitely true that there's a whole segment of transportation that's going to be hurt by falling energy prices but a whole other segment that would normally assume be helped out by it because it's a big input or operating cost. when i take a look at names like ups, fedex, these are companies that should theoretically have a secular tailwind and should benefit from lower energy and a lot of weakness. some of these are trading at historically low valuations and that definitely is a little bit worrisome. a lot more bulled up last year than this one. >> is that important? ? transports and now industrials, and to me i think all of this really speaks to the fact that you have a surging dollar and commodities, ind

it could be a big move but won't make or break the company. >> biogen is a $20 billion opportunity.dible. >> thank you. our stock therapist. [ laughter ] >>> still ahead, smart money sounding the alarm on china but one group of stocks right here in the states that's feeling the blunt of the concerns. we'll tell you what that is after the break. >>> all right. the smart money is sounding the alarm on china. listen to what bill ackman and jp morgan said at yesterday's delivering alpha conference. >> you must understand what is happening in china if you are going to be a global investor today. it's irresponsible not to understand what is happening given the impacts. >> you look at the chinese financial system, you look at the shadow banking, look at the amount of leverage and how desperately they have worked to get the stock market up. it looks worse to me than 2007 in the united states. much worse. >> and today barclay is down grounding to under perform as china car sales decline. general motors, lear following. the steals started to slow down prior to the china stock market slow down

biogen, two months ago i was on the show. biogen hit $460. everybody was like it's great.w down 1/3. >> now everybody is terrified. psychology is incredible. the announcement of the alzheimer's thing, it went up. investors think that's exciting. to me it's the other way around. >> despite huge moves, you have a move like amazon overnight. i would call visa to a certain extent a technology name because it is a payments processor. not necessarily a plastic company any more. we haven't seen anything lead. next week facebook would hopefully give another leg higher to the nasdaq. we are not seeing any breadth in technology. >> everything is super narrow. >> breadth is very bad. >> especially the last two weeks. some bears say that's a bad sign when you have large caps making up a huge part of the index. the rest not moving in that direction. there is a disconnect. >> we haven't talked a lot about how the regulatory burden on the financials talking about how much capital they are going to have to post. historically you look for the financials to lead the market right? i'm not su

biogen's weakness pushed down the whole sector.hrough etfs that make -- that are made up of biotechs. regeneron is getting a lot of love for the anti-cholesterol drug that got approved today and gilead might do an cans to diversify away in the hepatitis c franchise, biogen wrecked the whole shooting match, they were clubbed. you may think this is silly, but as i wrote in "get rich carefully," you get the stocks that pull down collateral damage. today was day one. and it's not just biotech. take capital one. the banks have been monster leaders, because they're winners in the environment where everyone expects the fed to raise rates. most don't have branches in beijing, but they never do better in a rising credit risk environment where more people default on loans. capital one in an attempt to expand quickly had to increase the loan business by 21%. talk about a piece of data that took your breath away. i had to read that several times. i didn't believe it. you think one of most important groups can rally, no way. capital one hammere

it is not just biogen. don't just say this is biogen.t is a lot of big names on the downside in health care today. that's another warning sign. no lows here in energy. all the big names. everything is at 52-week lows and has been hitting them all throughout the week. exxon, eog, occidental apache all at 52-week lows. all the material names are at 52-week lows. dow earnings for the week everybody who's had an earnings announcement has slid after the day of the announcement. even ge last week. it's just been an ugly week overall. >> wow. those are major declines there. far more than the index themselves. >> it is painful to watch it. because normally you don't get those kinds of slides in those big names immediately after the earnings reports. it is the guidance that's been a real problem this week. q3 is not turning out very well. we were supposed to be positive in q3. now the number has turned negative for q3 on the s&p 500. >>> bertha coombs now latest from the nasdaq. what's the picture you paint, bertha? >> a lot of red but take it in

new experimental drugs from eli lilly, biogen, and others take aim at the plaques themselves. they're given by infusion, binding to beta-amyloid and reducing its levels in the brain. scientists hope this approach and others may slow the cognitive declines that are hallmarks of alzheimer's. and with the number of people who have alzheimer's, analysts say a successful drug could be 20 billion nasdaq annual sales. we're bring you all the news from biogen, eli lilly important for both of their stocks on wednesday. back to you. >> wednesday is the date biogen moved to 1% higher in today's session. >> wednesday is the day. it's been moving a lot on anticipation of these data. but you also saw it peek in march around the first information that came out and it's kind of come off as people have worried about what wednesday's going to bring. it's really volatile for such a gigantic company. >> meg, look forward to wednesday. thank you. meg tirrell, our biotech reporter. guy adami. >> you mentioned ar sept. that's pfizer's drug. they report i think the 28th of july. pfizer's pretty inter

there is material to be had. >> i was going to ask you, of course, about biogen.he stock sell-off way overdone. if nothing else, it remind us of the risks in investing in some of these companies based on drugs that are perceived to be big winners that may not come to fruition. >> it is highly risky, of course. something like one drug out of ten that enters human trials ever makes it to market. they have several programs that are uncertain, uncertain market success. we'll see how that goes. mroes, keep in mind there's a lot of risk. biogen, of course, does have earnings. >> when the stock goes down 20% in a day. >> didn't buy on friday. >> okay. moving along, mylan and perrigot, does that happen? >> i think that happens. >> mylan raises its bid? >> we are likely to do that. their stock got hurt today. that makes the stock a piece of the transaction more difficult because the stock is not worth what it used to be. i think that gets done and people at the top will make it happen. >> sam, mentioned consolidation across the space and specifically talked about pfizer an

the biogen news proves it today. that said it's probably at interesting levels to get back on the long side. pete's talked -- i was going to say before he mentioned. but look at eli lilly today ahead of earnings. look at the reversal that stock had. i think it traded 81 at one point, next thing you know it's trading 86 ahead of their earnings release. so there are names that still make sense although with biogen you could probably dip your toe in right here. >> the interesting thing for lilly is they said there are some benefits. >> to their alzheimer's. >> to their alzheimer's. exactly right. and this is the mega world when we're talking about drugs if we can actually get there. the holy grail as guy mentions it. $20 billion type drugs. these are huge numbers. that's why the reaction of just even showing some benefits is why lilly turned the way it did. >> you hold on to this. this is long term. >> absolutely. it's long term. >> next up a tough day for the oil services play. baker hughes. six-month low on news that

it was not a home run in that regard, and that is why biogen was hurt so much.alzheimer's is potentially a huge profitable market or the drugmakers. it is kind of surprising that anyone has taken this long to come up with encouraging results. particularly because this population is covered by medicare. presumably, these drugs will be covered and they will be expensive drugs, so some plus forsay $5 billion the drugs when they get to the market because they will be the first one that will potentially slow the course of the disease, so there will be significant demand an uptick if they were, but there are still a couple of years of trials to prove that. scarlet: you said some thing that was interesting, slowing the disease versus showing improvement. that is a big distinction between what these drugs can do. most that anyone is hoping for is to slow the progression, not that it will turn anything around. but some of the data have shown that some improvements could be really meaningful in the early stages of the disease and perhaps hold off the really detrimental ef

i thought biogen was too promotional with aslzheimers. you've been reserved about the situation.uke do you think you're ahead of these guys and merck has not been a promotional company. >> we have good data that says inhibition is linked to the development of the plaque that's related to the alzheimer's disease. we've always been a company that followed the science and until we have data we think the responsible way to deal with this particularly given the fact that patients are waiting for a breakthrough in this area is to say what we know based on the data and we are very excited by the opportunity, but that's just not our style to try to talk about it before we know what we're talking about. >> mr. phraser, david faber. a broader question from me. i know you're no strange tore watching the consolidation taking place amongst the hmos or the pharmacy benefits managers. is it your thought that there will be even more pressure on those who develop the drugs to keep the prices as low as possible? >> certainly, as you have consolidation of buyers you'll have more pricing pressure bu

and there is a huge drop-off in the shares for biogen idec.s is a lot to do with its sales of multiple sclerosis drugs. the company had three main drugs that treat ms. is teixeira --e tecfidera. to ridssed the forecast the forecast is here and the sales are here and the actual sales is here. the fact that it missed estimates with all three of these drugs is a problem for the company. and another company that missed estimates is capital one financial's. the company is setting aside money to cover credit card losses and we will likely see those provisions increase this year as well. so even the biogen shares are by far the biggest declines -- by far the biggest liners. capital one financial is pretty close behind with that 12% drop right now, guys. olivia: all right, thank you so much, julie hyman. well, as julie has been telling us, we are more than one third -- more than one third of the way through our earnings season. scarlet: the s&p 500 gained more than 5%, but the benchmark index of the four-day has declined and trimmed that advance to tw

biogenic, when we checked earlier, is five times the idec-month daily -- biogen , when we checked earlier five times the three-month daily. are going to see a continuing slide in the commodities, but we will talk about that a little bit closer to the closing bell. i wanted to talk about one of the up stocks today and that is amazon. the shares are surging to a record of 11%. there off their highs of the session, but nonetheless, 11 percent is nothing to sneeze at for the week. with these gains shares, the market cap of amazon is larger than that of walmart. the white line is amazon and the growth we have seen in the market cap is ticket tuning -- taking it to around $250 billion where walmart is at about $230 billion. sideways overd of the last couple of years where as amazon is in a straight up projector a pretty but then there are sales, and even though amazon is now larger than walmart in terms of market cap, it is dwarfed by walmart in terms of sales. these are the quarterly sales. too, you see growth as more of a sideways move. walmart's last quarterly report showed $15 billion in sa

biog biogen's a little smaller after last year. thinking that as they're getting oust generics they want to get into the higher margin business where they're trying into vat and get meta reimbursement for their drugs as brett saunders was referring to there. you actually saw amgen's stock trade up about 4% today on this. the flip side of this is perhaps allergan is actually trying to shrink itself into a nice package to sell to pfizer. and of course pfizer's been looking for a deal since astrazeneca last year failed in the $125 billion bid trying into vert to change its tax base into the uk. this could potentially give it the ability to do so in buying activists with now allergan, branded drugs because they already did that big deal to buy haspira and generics. those are did-two ways allergan could go here. people say that brett saunders known as the chuck norris of pharma m&a is going to do something big. >> that's a pretty good nickname. >> he's the best thing that ever happened to biotech m&a for bankers ever. >> chuck norris? >

another health care stock we watching today is biogenic, in of thek -- in the wake big decline we sawstock last week, there's mixed analyst commentary today. an interesting note coming from j.p. morgan saying a meaningful acquisition could help restore investor confidence in the company, speaking of acquisitions. we will see will buy agendas from here. if you take a look my bloomberg terminal, have a chart of biogenic of the past six months or so, it's tumbledown year to date because of what happened in the last week or so. in march the company released data from a study of one of its experiment will also rose medications that was promising. we saw the stoxx bike. since then, it has been coming down. last week the company released new data about the dosage, a lower dosage that didn't necessarily show is promising information, so consummated -- complicated that dosage. it tumbled about 22% after the company cut its forecast saying the ms drugs were also weaker that have been estimated. we are seeing a bit of a rebound, but to put it in perspective and context, that is on the back of ve

very important for biogen potential, $20 billion drug if it is successful.we'll see dayta on a similar drug that targets the lpga. this will not be the key phase three data. that's expected next year. but it should give us a better glimpse of how the drug appears to be working. the third one is a smaller company called axovant that works on the symptoms. but it is a relatively new company and they're going to be talking more to the street on wednesday with an investor meeting and more data on their drug. those are they big potential stock movers. >> meg, thank you very much. >>> we've all seen autonomous vehicles cutting it up in wide-open parking lots but how would the cars do in a city? now we can find out. phil lebeau is in "m" city at the university of michigan. hi phil. >> hey, tyler. it is not a true city. it is a make-believe city. but it is one that the auto industry is hoping the automakers, tech companies get a better sense of what happens for autonomous drive vehicles when they are in certain situations. m-city is basically a closed area. you are

biogen is cutting its forecast. see that enormous 16% drop, the biggest one-day decline since 2008. cigna agreeing to be bought by anthem, but the shares are lower arehey are -- there antitrust concerns. that is being counterbalanced for the consumer services group and to some extent. amazon and starbucks. both trading at records today. both out with earnings. amazon surprising analysts with a profit as a kept expense growth in check. starbucks, in particular, its u.s. sales on a comparable basis, beating estimates. i want to mention what is going on with commodities because women watching them so closely. oil prices for the week down more than 5%, the fourth straight weekly decline. gold, the fifth straight weekly decline, down 4.5% at this commodity slump continues. olivia: thank you so much, julie hyman. still ahead, want to own a hat worn by the legendary babe ruth? it is a for auction next week. it will cost you a lot more than a pretty penny. ♪ welcome back. i am olivia sterns. with goal losing its luster, you

disappointing results from biogen down 11 dollars down 2%.disappointing their profit, though, was bitter than the analyst has been expecting. so the stock hit a new high this morning, 728. do not forget the price of gasoline recorded for you every single day. national average is $2.74. the big story, though, is california, most pex pensive gas in the land by a long, long way. back in the greenest it is $3.86 in california that is at least a dollar and more above the national average. actor -- actor ashton kutcher he's taking on new york mayor bill de blasio and all about Über quoting a message that kutcher posted on facebook this is the corrupt shortsighted politics that is destroying innovation. cheryl is with us. what do you think? >> i love this -- >> celebrity has been defending Über -- >> ashton kutcher by the way. >> what did you say? >> kutcher? >> i want to let you know incase you do the story again today. but he's a big -- a big silicon valley guy so he's been one of the people as far as investor and angel investor of this type of gu

because on friday we heard from biogen on this topic and the latter has been quite promotional they think it might have something here for alzheimer's. it will be an alzheimer's duel and we promise to follow up and friday we're looking for confirmation that the gains run last week and american reports on and it's got heavy integration issues and if they talk about tighter root structuring and lesser competition, i say go buy more delta. here's the bottom line. it's a tall order week and one prone to costly snap judgments. don't make them. this is a learning week. don't turn into a gambler's paradise where the casino gets more than its fair share of winnings. let's take calls. ross in utah. ross? >> jimbo, a big salt lake city boo-yah to you. >> like that, what's up? >> my wife and i have popped a fresh bag of popcorn every night to watch the show. >> there you go. that's the right way to approach the show literally. >> we have a large position in solar and with the recent news this morning that sun edison will be buying it for around $2.2 billion, what do you suggest i do now and what do

. >> that is key when you look at the early stage drugs biogen and lilly have. >> biogen everybody was excited about their phase 1-b data. we'll get more looks wednesday. lilly moved its drug which looked like it failed in an earlier study. now they reparsed that data. the patients some of them might not have had alzheimer's. that is why people think biogen was successful. they determined the patients had the plaques in the brain. that is going into phase three. >> federal dollars for research. how much now for alzheimer's? >> $560 million. >> how much for cancer? >> more than $5 billion. >> those are apples and oranges. cancer is a horrible problem. >> you were comparing it to hiv and how much strides we made. >> the hiv mentality started in the mid '80s. such a horrible problem and in two decades it became a manageable condition. we need to have a war on alzheimer's mentality here. a sense of urgency. >> how do you do that? autism folks, autism speaks and other foundations have done it a great job making it part of the public conversation. we are not doing it with alzheimer's. >> it'

biogen shares could swing $50 in either direction. nightly business report i'm meg terrell. >>> chipotle beats estimates but misses on one key metric. that's where we begin tonight's market focus. same store sales rose less than analysts were expecting, still it managed to top consensus on the top and bottom lines. shares were lower, but managed to turn around. during the regular session, shares were off a fraction to $673.07. >>> go pro saw its revenues surge by 70%. earnings in revenue topped the street's consensus, shares were volatile initially in after hours trading. the stock was 2% higher to 62.04. novartis saw its shares after reporting a decline in profits. this was drug giant hit by the effects of a strong u.s. dollar yet the ceo says he's optimistic about the company's pipeline. >> when you look at our results, the best part about the quarter was the innovation we just got approval to launch our new heart failure drug. this is a drug that's proven to reduce cardiovascular death by 40%. we think this is going to be a multimi

you look at the celgenes, the gileads, the amgens, the biogens, they're all going to stay at these levels and probably continue to move higher. >> so not a problem for health care at all. >> it's not a problem for the larger safer names. again, bottom of the barrel just like in energy it's an issue. very big issue for them. >> i tell you what. i kind of agree with what i think guy is saying. the pain trade could be higher even though the volatility seems to be up there. i would actually argue the volatility has crept its way in. we had a couple moments here where we were at 16 on the vix. that really is the level. yet two or three days, 13%, 14% vol moves. but if you think about thematically, investors are very thematic right now and health care and biotech, nothing is changing. the demographics in this country tell you that health care is going to be a very important part and the hospital stocks continue to move and the consolidation. i think when you look at oil and you look at commodities specifically it's easy to argue that there are sector-specific things going on. i know people want

. >> even after friday's biogen meltdown. >> well biogen is a larger company biotech.he larger cap biotechs but the medium cap biotechs i think are very interesting here as well. biogen is recovering. i think it will continue to recover actually. i look at the aerospace defense area. again it is not just big cap players there but mid cap players as well. e-commerce. semi-conductors. consumer discretionary and food. interesting market but i can talk about consumer staples, at the same time i'm talking about cyclicals like semi-conductors and biotechs. >> gene and michael, good discussion, gentlemen. >> be careful! i think that this stuff is very risky that gene's talking about. i think while it might go up in the short term this is not a time for the average investor to be taking on more risk. >> okay. you guys just made a market. that's making a market personified, buyer and perhaps a seller if not a holder. guys, thank you very much. >>> much more ahead on "power lunch." an increasingly busy monday including more on that embarrassing mistake by the federal reserve. bu

one is eli lilly and biogen.oks to us that eli lilly could be first to market if their trials are successful. these trucks are much the same in terms of how they treat alzheimer's. there is nothing out there that perhaps -- that helps perhaps slow the development of this disease. at the moment, the best they do is reset your mental capability. they take you from a four to a two and then you decline again. we want to reduce the rate of that decline. ideally, stop it but that is a holy grail. these have the potential to do that. jon: did you get your question answered? guest: one of the questions was -- they have this other drug for alzheimer's and what are they doing? they are still looking at the data. we felt yesterday they had made up their mind but it doesn't sound like it. diabetes care -- i really good result. the second period that has been positive. there is a lot of pressure and reising. this in europe stabilized on new footing and they expect the same in the u.s.. that means that every division should co

biogen cut its output, don't do that, biggest loser on the s&p 500 down $65.has hit an all-time high up $3, 75, biggest gainer of the dow 30. look at oil, it touched $47 a barrel earlier now is $40.23, slightly lower almost every day, so too with gas, just about a penny a, almost a penny overnight, $2.73 is your national average. let's get to amazon getting all the attention rightly so. it showed profitability and online retailer is worth more than walmart. look who is here, charles payne. charles: i wanted to jump in. i agree with you more. i know we're here for stocks but i agree with you more than her. a couple times a week my shows ends it 7:00, my wife doesn't like to eat after 7:00 so a couple times a week i will stop at five guys and always struck at a harmonious interracial people sitting at tables. last night asians and whites, blacks and asians, whites and hispanics, this'll the 57% is older people, hulk hogan use the n word, that is older americans, holding in these things, they tie with dennis but i don't think that is young america. my son is 18.

gilead is important for the biotech sector which is reeling from a disappointing friday from biogen.yelp bowles. stock is down 40% this year. slowing year growth. ken senna says to focus on average monthly unique visitors. he is averaging a rise of only 7% year offer year. part of the problem, yelp gets a lot of users from dwoogle searches, but google is making it easier for business owners to pop-up at the top of its search results, so traffic can stay at google rather than being sent to yelp. more color on the conference call. bill back to you. >> dom, what do you say you take your wife for her birthday to panera tonight? >> maybe a power kale chicken salad? maybe my wife will like that. let's get straight to the headline numbers to watch here. analysts looking for earns per share of $1.63 sales of $379 million.$379 -- $679 million. analysts looking for a 2.2% gain. look for any update or comment how the company's panera 2.0 initiative is going. last year they unveiled that plan to use technology to streamline the ordering process, production process, payment fulfillment, all those

i did get hit on biogen but did extraordinarily well, and speaking of, which it's friday.an salute, this one christina ray's cafe and founder roxanna mann. mann is fully blind opens her cafe with the help of a business enterprise program. she called the cafe. in order to be more hands on with the business, she found a voice-activated device, now she has opened three more locations recently and expects business to grow. get this, 250% next year. you are the epitome of what america is all about. for more stories like that, go to www.foxbusiness.com/charles payne. >>> it was a tough week for us, guys, we had bright spots, big money in amazon, gopro and lot of other names. next week is another very, very tough week. we've got important economic data and earnings. we'll be back. in the meantime, we'll leave you with the man himself, lou dobbs. keep it right here on fox business. lou: good evening, everybody. i'm lou dobbs. hillary clinton tonight facing possible scrutiny by the justice department after allegations she sent classified information in e-mails while heading the sta

i did get hit on biogen but did extraordinarily well and speaking of, which it's friday.te, this one christina ray's cafe and founder roxanna mann. mann is fully blind opens her cafe with the help of a business enterprise program. she called the cafe. in order to be more hands on with the business, she found a voice-activated device, now she has opened three more locations recently and expects business to grow. get this, 250% next year. you are the epitome of what america is all about. for more stories like that go to www.foxbusiness.com/charles payne. >>> it was a tough week for us guys, we had bright spots big money in amazon gopro and lot of other names. next week is another very, very tough week. we've got important economic data and earnings. we'll be back. in the meantime . >>> hello everybody. i'm lou dobbs. we're learning more each day about the obama iranian nuclear deal and the more we learn, the more it appears the administration has thrown our national interest to the wind in favor of a strange gift to the world's leading state sponsor of terrorism. congressio

bio bio biogen and eli lilly announcing ways to slow the disease. >>> and historic steps in the u.s. embassies in each other's capitals. the move formally extends diplomatic relations between the countries and sets the stage for growth in u.s./cuba business relations. >>> i'm mary thompson. get all your news on cnbc. >>> we're following breaking news from south philadelphia. nbc10's jesse gary is live where the fire forced many residents from their row homes. >> reporter: that fire is out. fire department removing equipment. we have talked to the owner of the property. i'll tell you what he says coming up. >>> a good sunday morning. we're in first alert weather mode tracking excessive heat this afternoon. here's a live look outside. lots of riders on the ben franklin bridge riding 65 for a good cause. certainly enduring conditions today. we'll talk more about the heat and humidity today. very very hazy out there. looking at a hot and humid day later this afternoon. more coming up. >>> right now, this south philadelphia arson scene. investigators want to know who torched this building

if you look at biogen, those sick -- shares -- speaking of accelerated declines, this keeps getting worsese as the day goes on, now down 20%, the biggest one-day drop since at least 2008. i will have to check in now that it is down 20%. the company cut its forecast and its multiple sclerosis drug sales missed estimate as it sees more competition from a competing drug from novartis. byna agreed to be bought anthem, but there are antitrust concerns, and abbve disappointed itsales, particularly arthritis medication, emeritus. -- human era. amazon has been paring gains affidavit of -- purported -- reported a surprise profit. the stock is trading at a record. shares of starbucks are also at a record after it reported sales in the americas on a comparable basis, up 8%, better than estimated. i mentioned what is going on with commodities and the continued declines there are incredible. oil is down for a fourth straight week. this is a weekly decline of the most 6%. for gold, it is the fifth straight weekly drop for gold prices. we see a drop by about 4% on the week. that continuing decline in co

shareholders because one of the most bankable executives in the world and the big pharma apocalypse with biogencognized that his own company's stock would soar if he snared receptos for $7.3 billion. it's not often that a shells out that much money and sees it go up almost as much as the target. what drove you and me to receptos? the stock that traded at $35 one year ago this week? we're a pipeline of drugs within one formulation and the indication is the best possible in-class get this m.s. irritable bowel, you willer is tiff colitis and a whole host of auto immune abnormalities. even though the company is doing extraordinarily well manage am raised numbers along with its announcement of the receptos deal is too department end on one drug for blood cancer and any company that's vulnerable -- it is a perfect fit to cure that ailment, hence the gain. i remember when we first came across receptos. these stocks are very speculative. i think a small portion of your portfolio has earned the right to be speculative and only if you bought the index funds first to more conservative e quites and mutual

we know from biogen's recent december sthaentscent that it could be disappointing. tuesday be prepared to be disappointed not from america but china. we get the pmi. i need you to be ready for a selloff that can impact our markets. it's always possible that we see a stronger china number someday. but china's -- well let's call it the topmost important existential threat to anything good happening in the world. so be aware that china lurks like a hidden dragon or maybe even a crouching tiger and it can breathe fire and pounce on our stocks with a level of force that makes earnings irrelevant. that's the case then you could get a buying opportunity when the quintessentially american cvs reports, that's charlie victor. i'm amazed at how this management team has turned cvs into a true retail powerhouse with a health care kicker. i expect one more excellent quarter which is why you might have to be opportunistic and buy it on an irrelevant but powerful wave of chinese stock market related selling. you know what went virtually unnoticed this week? a further tieup between

that's when biogen and eli lily are expected to release information on drugs they're developing to slow the progress of the disease. the announcement part of a big conference on alzheimer's next week in washington, d.c. >>> finally, a historic step for the u.s. and cuba monday after five decade. the u.s. and cuba reopening embassies in each other's capitals. while the move formally extend diplomatic relations between the two countries, it also sets the stage for growth in u.s./cuba business relations. >>> i'm mary thompson. get all your news on cnbc. >>> we continue to follow breaking news in south philadelphia. that's where nbc10's jesse gary is live at a building fire that may be a crime scene. jesse? >> reporter: we've been talking about the possibility it could be arson. now we're hearing from a man who says he saw two people running from the building shortly before it burst into flames. hear from him coming up after the break. >>> good morning, we're looking at temperatures warm already. around 76 in philadelphia. a hazy morning. very humid as you step out. we'll see the temperatur

. >> stock alert right now check out shares biogen sales of fits roster multiple drugs failed to live up to wall street expectations. visa ending day as the dow's best performer earning a major driver earnings a major driver there. but we're also learning that credit card company is in talks to -- be reunited with visa europe more scaled to compete with rival mastercard stock hitting a new all time high, and starbucks also closing at level it is not seen before the stock popping after quarter revenue jumped 18% to 4.9 billion dollars. it is amazon, of course, that is the bigging winner that company reporting second quarter earnings blowing past estimates turning a hefty profit of $92 million or 19 cents share today's rally makes amazon world most valuable retailer with its market cap topping brick-and-mortar competitor wal-mart and other name it is that you know like general electric and jeanine jpmorgan er joins me now. amazon, stung running up today. i feel soirl for people yesterday who said it was a hold and too late and department want to chase and weren't going to get into it on

ej lily and biogen out with results.e'll have the best biotech buys and we've heard about the jeep that got hacked while being driven. one of the hackers stops by to tell us hoe he did it and what else could be at risk. it's going to be interesting. make sure you join us at the top of the hour for two big hours of power. back to you. >>> looking forward to the hacking story. let's look at shares of facebook right now. they're at session lows, almost at session lows right now and also look at the move in the qs, these two things are related. the qs are down more than the overall nasdaq because of the weighting of the four largest stocks which include facebook and netflix both of those are down and of course apple, amazon ahead of earnings. facebook is a stock that moved roughly 10%, purely on the back of google and nothing else. >> i mean i think the set-up in facebook and you have to think about apple. here's a company that delivered a better-than-expected quarter. and yet was taken down 6% in the afterhours, 5% today an

then biogen, xerox and some others. >> if you look at the caterpillar sector, any end market is downower. i wouldn't own cat. in terms of apple, i think -- who knows? it is always an important quarter. >> i think morgan stanley the bar's high. financials other than goldman has acted well. >> the bar was high and tn shouldn't go down to legal expenses. the bar was high there. >> jpmorgan mohas in the past. b of a has gone down and come back up. >> apple? >> nope. >>> it "power" starts right now. have a great weekend. >> announcer: the second half of the trading day start right now. >>> gentlemen, thank you very much. welcome to "power lunch," everybody. i'm tyler mathisen. what has become of the single family home in the united states? growth being driven in the housing sector, at least by housing starts, almost entire by multi-family building. today how to get behind the trend as an investor. >>> take a look at google. those shares earlier today above $700 for the first time. up almost 60% today alone! and that -- 16%. that, folks, is why the s&p and nasdaq are higher at this hour. i

two drug companies, eli lilly and biogen, announced new progress in the development of the first drugs the progression of the disease rather than simply alleviating symptoms. both drugs target the buildup of amyloid plaques, which many believe contribute to the disease. researchers found the drugs helped reduce cognitive loss in patients who had mild symptoms. but some observers in the field say the improvements for patients are too small and uncertain. here to discuss these developments is keith fargo, director of scientific programs and outreach for the alzheimer's association. keith fargo, welcome to the program. so some promising news. let's take the drugs one by one. they're difficult to pronounce. solonazonab is the first one. what are the findings in connection with it. >> for the first time a drug company voterring the results of a study showing their drug may actually slow the progression of alzheimer's disease in the brain. when people think about alzheimer's disease they normally think of cognitive symptoms, memory loss, et cetera, but alzheimer's disease at a core level is

then we've got biogen shares. they're under a bit of pressure this morning.missing the mark. and spirit airlines earnings topping estimates. low cost carrier getting a boost from more flights and new routes. are you guys spirit guys? my wife was asking last night if i wanted to go on a spirit plane in and out of denver. we're going to visit my sister. i've never been on spirit. >> i haven't either. >> take that ride and let us know how it goes. >>> check this out. we find bugs that are pesky and unpleasant summer companions but for the airlines it's a much bigger deal. turns out they are a fuel wasting money eating drag. every time they've got a clean wing. if it goes if you run into bucks, that slows things down. believe it or not it adds up to a lot of money. nasa scientists are teaming up to tackle the dilemma of keeping bug guts from sticking to wings. they are testing out wing extensions and non-stick coatings. it could save the company $240 million a year just on the bugs. even more if it keeps off other stuff as well. >> ick. we're all familiar with th

. >> let's get to megain washington with a news alert on biogen. >> that's right. the alzheimer's conference in washington d.c. highly anticipated data coming out now. as they have gotten all the doses in the trial it shows significant reductions on the plaque in the brain and a slower og of the cognitive designs associating. those on their own compared with placebo were not significant on two measures of cognition however they were highly significant when you look at the plaques so taken together the results are encouraging and saw what we saw in march. they're starting the phase three trials this year so encouraging update supports however not significantly significant on the 6 milligram dose. more updates on trials later today. >> $6 million is the high dose? >> $6 million is the second highest one in the four dose trial. 10 was the highest. they would hope for fewer side effects. >> i hope so too but when you do, you said it really effected the plaques but not cognition. who knows whether that really will eventually -- >> it's also a small cohort. >> right. all

biogenic failed to show a significant cognitive benefit so we see shares falling. results look more positive if they started the drug earlier in the disease progression, they did better on follow-up memory and thinking tests, but these chairs are falling as well care we will monitor the development on these results -- shares are falling as well. we will monitor the development on these results. stephanie: thanks. all you beach lovers might have a new vacation destination. how caribbean is planning to capitalize on cuba next. stick with us. you are watching "market makers" on bloomberg television. ♪ olivia: after more than --stephanie: after more than 50 years of estrangement, the u.s. and cuba reopened embassy's this week restoring diplomatic ties between the nations and that could lead to thousands of new tourists visiting the island and one company looking to jump on that is cheapcaribbean.com. the ceo joins us now. you have your eyes set on cuba. clearly people are interested in going there. how realistic is it? what is the actual opportunity for you? steve: cub