a move biogen said will create the best value for shareholders. the spinoff expected to be completed by later this year or early next. shares of biogen closed flat at 273.71. >>> tyler, sprint reported a wider than expected loss for the latest quarter and added fewer subscribesers than analysts expected. the wireless phone provider plans to trim more than $2 billion in costs this the year, a move that prompted the company to raise its guidance for the full year operating income. shares were up 5% to 3.67. >>> low commodity prices continued to weigh on oil field service provider halliburton, as the company reported losses in profit and revenue. after a failed merger with baker hughes halliburton said it would consider other acquisitions in the future. shares were off nearly 4% to 40.44. >>> metlife has agreed to paid $25 million to settle an investigation by a securities industry regulator in which the company allegedly made misrepresentations to customers regarding variable annuities. as part of the settlement metlife neither admitted nor denied t

the godfather of biotech, the chairman of biogen will be here to tell you. there's a fast food bundle, and it could bring hefty returns to your portfolio. but first, we start with the words that could have big implications for your money. take a listen. >> it's appropriate, and i've said this in the past, i think for the fed to gradually and cautiously increase our overnight interest rate over time. and probably in the coming months such a move would be appropriate. >> that, of course, is fed chair janet yellen speaking today. sounds like a rate hike is coming. if that's the case, what do you do with your portfolio now? >> it's almost a little disappointing, that the fed just decided this is the time. and data dependency-wise, i've fallen on the more constructive side of it. but i'm not doing cart wheels over the data release. fed is not priced in. if you look at your portfolio, those things that were dovish trades i think are extremely stretched. those things that were defensive essentially be careful of the things that are very, very cheap. i think that's

biogen shares are down 27% to date. coming up, soccer moms unite.ng up with fiat on self-driving minivans. and soccer dads too! what does it mean for the two companies? and tomorrow, do not miss hurricane or with us. later in the morning, we sit down with the head of cbs to talk about the media giant's latest results. that interview, 11:00 a.m. new york time. more of "bloomberg west" next. ♪ emily: the online dating company is surging over 7% in late trading. match, which owns tinder, okcupid, and others, reported sales under $300 million. the wireless wars continue. in other news, sprint shares rising in trade after the carrier says it's slashing capital by 36%. they hope to improve its network in an increasingly competitive market. the cost cuts help make up for a much lower amount of subscribers than disputed. the actual number came in at 56,000. sprint is currently the number 4 carrier in the united states. uber's partnership with the chinese payment app alipay has gone global. it's active users can now use the app to pay uber fares in any of th

it's like, for perspective here, losing the entire value of, say, an american express, or biogen or worth two valero energies or three hormels. now it's about whether the stock has caught the attention of some of those value-geared traders. back over to you, melissa. i mean, simon. just kidding. i knew it was you. >> let's send it over to carter. how do the charts look here. >> if we know, uptrend is defined, and clearly uptrend for quite some time. higher highs and higher lows. down trend is the opposite. that's where we have been for the better part of a year. you can draw your lines any way you want. as charters or technicians are inclined to do. a triple top. here's another way. we have come right back to the new down trend. and we're failing. here's another way. you can call it head and shoulders top. but the reality is that we're hovering ominously right here at these lows. ultimately, to my eye anyway, we have lower to go. even down here filling in this gap. here's the long-term chart. again, we could put in our head and shoulders. you can put in your break and trend. but the reali

amgen, biogen, some of the stocks that are well off of their 52-week highs versus the ones i just mentionedpercent from the 50-week high. pain there's a catch-up trade. >> how much of a weight is biotech? >> that's what's so interesting. traditionally, the real key here is traditionally this is a defensive area of the market. right. biotech has skewed all that. in terms of the -- in terms of what's important here, the top is the big pharma names. what does act well, devices act well, health care facilities act well, managed care, so forth. you need a little bit of play from some of the big biotech names and this thing can -- lift. >> some of those companies actually, if you're taking a look at what the valuations look like, those are actually the cheaper names in the group right now. the big cap names you're talking about, johnson & johnsons, 22 times multiple names, actually gileads and things like that are trading in the mid-teens and have much more growth potential. from my perspective, they don't present a great deal of risk to the group but offer a good potential tailwind. >> is part o

biogen also on the rise.opean regulator released a positive opinion on a new use for the multiple sclerosis medication. the fda also approved a new medication to treat certain as well.ms eva approval for at medication -- it is getting a lift along with it. this has been a big momentum group, iraqi group as well. rocky group as well. the declines in biotech began last year when the folks on the campaign trail started making comments about the high price of drugs, congress started examining that as well. it has been declining ever since, right now, trading at its highest since january 12, but not enough to salvage it from those declines that we've seen. has a coming up, uber of business, giving loans to would be drivers with less than stellar credit scores. -- a new line of business. ♪ david: this is "bloomberg how our credit traders dealing with volatility in the market? credit traders dealing with volatility in the market? >> when the market backed up as far as he did as quickly as it did come of the sharpnes

ben: the ones that have disclosed recently have been gilead, biogen, and jazz pharmaceuticals.irst one that really came the end ofeant at last year, with the first indication that this probe is going on. david: remind us why companies do this. there could be altruistic motives here, but there is certainly more to it than that. these companies are giving tens of hundreds of millions of dollars to these charities, and it helps these charities pay money to patients who need help with their out-of-pocket costs. there seemingly is this all through his degrees and. drug companies are raising prices and normatively i'm what this could potentially do is erode their customer base. even patient's out-of-pocket a year drug$100,000 can be immense. what these drug companies don't want is for patients to go off their drugs. by giving to these charities who then give to the patients, they are essentially helping their bottom line. shery: what does this mean for the broader health care system? ben: the costs are enormous. in our article a week ago we looked at one example of a cancer drug made

emily: stating in biotech, biogen will spin off a team affiliate drugs business into a new publicly tradedy worth up to $5 billion. it gives the massachusetts company the freedom to focus on therapies for neurological diseases like multiple sclerosis and alzheimer's. the spinoff is been approved by the board and should be completed by the end of 2016 or early 2017. biotech shares are down 27% to date. soccer moms unite. google is teaming up with fiat on some driving minivans. and soccer dads too! with his it mean for the two companies? morning, we taken to the media giant's latest results. that interview, 11:00 a.m. new york time. more of "bloomberg west" next. ♪ emily: the online dating company is searching over 7% in late trading. match, which owns tinder, okcupid, and others, reported sales of $21 million. the wireless wars continue. sprint shares rising in trade after the carrier says it's comforting -- slashing capital by 36%. they hope to improve its network in an increasingly competitive market. it is to make up for a much lower amount of subscribers than disputed. the actual number

next up, biogen, it's raising prices for three multiple sclerosis drugs.ng to cowen, there could be upside to 2016 guidance. the cfo did not include the hikes in the guidance that was given in january. despite election year politics, they see u.s. pricing in the marketplace as flexible, prices can go up. and that would be a support pillar of biogen's franchises. >> maybe they feel they need to do something. stock is down 30% over past 12 months. >> along with biotech. >> western digital, another barclay's call. the analyst upping western digital to an overweight from equal weight. he thinks the stock has risk for a couple reasons. he believes that old style drive, hdds are not going to totally be repolilaced by the fh memory drives. he thinks the stock valuation is too low. target boosted to 60 there are from $57. >> a key driver is going to be 3 demand which acquired with the acquisition of sandisk. we heard that, remember. the earnings set the sector on fire. and specifically mentioned three d as being a strength there. a bearish note, cutting estimates

of theof biogen and out trading higher.fter the fda approved a jointly developed in mass drug mstween that -- developed drug between the two. jonathan: april was a strong month for the u.s. consumer. spending climbed by the most in seven-years. will it impact the fed debate? here is carl riccadonna and the chief investment equity investment officer. play the drama for us. : it is a great number, but not so great if you take three factors into consideration. spending was flat and prior months, so there was a catapult effect. prices increased significantly. part of the spending increase was households paying more for gasoline. 3, the savings rate coming down. which is good news as consumers became more optimistic so they loosen the purse strings. those three factors are unlikely .o be repeated going forward income looks decent, households are spending at a decent clip, meaning current quarter growth will bounce back from the lousy but let's not get to out over our skis, too excited, based on the number. the fed likes the numb

trillions of dollars of wealth, millions of jobs throughout history, spawned companies like amgen and biogenat help with people's health. but yet, what he has, hollywood hypocrites, railing against it whatever you can. but here's the hypocrisy of it. you know who funds a ton of hollywood movies? wall street does. so it's amazing to watch these people continue to pound away of such a great engine of growth, just because, hollywood loves billions. and it's not just wall street. it is oil companies, it's drug companies, anything out there -- >> republicans. >> anything with too much money, they go after. >> and republicans. that's true. but charles, here's the one thing, wall street doesn't help its case any after the meltdown and the way they were packaging and selling securities they knew to be crap. i could easily posit that the government was pushing them to lend at a time that would get the numbers up, get the numbers up. so they're not without sin. i just argue there were plenty of other sinners. but i'm worried that people look at that and they experience many that had sins. it's a rigge

to focusallows biogen on neurological disease and alzheimer's disease. by early 2017.ur business flash update. time now for the metal bulletin. we will head over to julie hyman. julie: we talked a little bit about the safety trade. in the case of goals, that is not the case. gold usually catches a bit when there is risk off of sentiment overall in the market. down about .5% today. also, if you look at the miners today, they're pulling back chemical ingenuity. actually trading higher but it has to do with valuations for these companies. in many cases, we are checking about triple digit percentage gains for the company. this is what they're talking about when they make the downgrades for evaluation. take a look at the bloomberg here. the run we have seen your to date now is about 23% despite today's pull back a little bit here that is an enormous gain and is already been seen dust far this year. the biggest are to the year we have seen for gold going back to the 80's. alix: and unbelievable chart. thank you. despite gold passes fall, up 20% on the year. they come to us f

we've seen the spinoff this morning in terms of biogen.alph: you can look at these super large companies and say their multiple for their whole business is being harmed somewhat by the fact that they have very large, high cash flow but low growth businesses. the market still does pay for future growth. financial sensible engineering that comes from separating these high cash flow, high dividend businesses from the higher growth activities. merger andn see acquisition arbitrage, you can look at their spreads. this is the anthem deal for cigna. it has comeint, back in line a little bit now at 38. with: a similar story humana. theyarket is telling us are not sure these deals will get done. ralph: starting with comcast, time warner, then baker hughes -halliburton. llergan-pfizer. transactions that involve real agglomeration and market share gain, which both of these healthcare services deals represent come are getting more careful concern. you have a lot of capital licking their wounds. david: ralph, you will be with us. --an: coming up, the r

the godfather of biotech, the chairman of biogen will be here to tell you.undle, and it could bring hefty returns to your portfolio. but first, we start with the words that could have big implications for your money. take a

biogen is down will 8%, 9% in the last couple weeks. they've been down since the earnings report.ky works, there is an apple supplier. the guidance was also below expectations. bottom line here, earnings and guidance not quite what people were looking for. >> take a look at apple here. it is down by more than 1%. it i had a new 52-week low, $91.99. that is the lowest level since june 2014. the recent decline taking down a number of big cap tech names. should you buy into this group? our tech bull is with matrix advisors, our bear is shoun o'hara. one of your etfs moved to all cash or cash equivalents just yesterday y. why was that? >> thank you for following me. we follow a 200 day moving average strategy. before we get into that, the nasdaq on february 1st of 2009 was 13,077. it's 4700 today in seven years, four time as high. so all bull markets eventually come to an end. we're not trying to predict whether we're going have an end to the bull market. we use a rules based methodology that uses the 200 moving day average to determine how much exposure to the index we have like the

not that dumb for biogen. you have to hope they have other things.lzheimer's it's been a disappointment, sold a lot higher, kept some. wish we hadn't. maybe it comes back when people realize they have something alzheimer's. >> what did you think of einhorn and yelp? >> yelp is just -- i know the company. i know of course from the point of view of restaurant, and it is a company that cost a lot to advertise with. you really need to scale. i'm going to say it's a junkier site than it used to be. i think it got hurt by a google algorithm that made it so it was less looked up. i think it's been a natural for yahoo to buy and yahoo never bought it. it would have terrific for yahoo. sometimes you see these things, yahoo, just go buy it. you get that earnings stream. now i feel apple should go buy it. just kidding. apple -- by the way, the apple -- if apple acts better it's because the se might be better, the new small form factor. >> yes. >> because the kids in our country they want the power, but they don't like the size. apparently it's aspirational in c

stock number one, ultgenics, a nevada-based biogenics, jeffrey's reiterating a buy and a $109 target. 61.60, analysts like the progress on certain drugs and say other clinical programs remain on track including a partner program including a really bad type of muscular dystrophy. i wrote it this morning and realized i'll never be able to say it. it's bad and you're on progrempingts the $109 target is 65% above the current stock price for rare. >> raymond james cut from an outperform to a strong buy. price target getting cut from 25 to 28. results of q1 inline. the stock has been considered a potential takeout target and the analyst says an outright buyer for the company is quote, up quote scarce and rebelieves in the free business and cash flow and there's a continued flatter trajectory meaning it won't grow as fast. >> a buyer is on tap because this is a $76 stock three years ago. now at 2329. next up, sprouts farmers market. goldman sachs says you've got to sell this stock. they cut the rating from sell to neutral. the target is thrown% below price. estimates and valuations are overl

amgen and ce lg ene and biogen up there on the day, trading as high as 3% overall so when it comes, guyswith the driving of the rally, a lot of people wondering what are some of the sectors or industries that are helping to lead the way higher. biotech health care and one of the sectors today, really helping to power things and we know health care is a large component of the s&p 500. >> and you own the ibb in one of your funds. >> well, years ago, we used a stock pick and we have a portfolio of private startups which is highly risky and stroke is one of the things we focus on and i've learned over the decades is the ibb tracks a large cap, a market cap wait ed index, you have to own a basket, use an etf, what i've used and the etf and the highly illiquid private assets i've got together give me exposure to the sector. >> you made money in the private investments? >> not yet. i've not yet had. >> haven't had a hit. >> stroke research, the company i'm involved in, is still at it. almost a decade in called no-no, the idea is you get a stroke and i want this because i've got stroke in my fam

and roger is slamming balls and talky biogen a poker in the industry says it is wrong to use the algorithmsut at least they are trying. daily fantasy sports as far as i can tell they don't even try to stop the algorithms bubblegum professionals against people without the algorithms to have a huge a vantage because they have more data and algorithms that can use the data i would ask industry representatives to explain to have a few top players take all the money from the many recreational players who were trying to have a good time. so they can track what direction in the wind is likely to blow on a given day i'll listen to one person and said we were tracking the strike some of the empire. , the average players can import that type of knowledge? but the professionals can. to begin the strong consumer protection because they enter a lot of lineups. you also need to label the higher earners so the average player knows them go away again somebody had of my league and choose to play or not. also for the problem gamers to know that they can get help to present insider play and regulators to make