and and -- biogenera biogen is up. >> i would probably pick biogen. i have doubled down at the lows roughly 10% ago and i still really believe in it. the reason is is that i believe that biden has a very high possibility to have an alzheimers disease franchise come 2019. it's a disease where it involves millions of patients. society will pay for these drugs if they work very well and wall street has forgotten about this probably because of the next free date. it won't come until 2018 which is kind of outside the time for a lot of wall street folks. i think next year they're going to come back and realize that the data that they are putting up is the best data period and that phase 3 is not terribly high risk. >> i have medley global advisors mark. >> hey, gill iiad is remarking. is that expectation going to turn around and happen? >> that's a really good question. gill iiad sells drugs to kill viruss the first rone is hiv an the second is hepatitis c. just to give you an idea the net income is roughly equivalent to j and j income, roughly equivalent t

biogen also said its ceo would step down in the next few months.hares up 7% on the news to 282.:45. >>> profit fell nearly 20% at union pacific as weak demand for consumer goods hit results and earnings still managed to match wall street targets. revenue at railroad operator didn't fare as well missing the mark. the company's ceo said there are still challeng >> we're still face some. very same healed yinds we've fa faced in last quarters, natural gas price and replacing coal as a source of electricity, a strong u.s. dollar and strong shalel shaleled-rel activity being depressed but we are seeing sequential improvement which is improving. >>> domino's hit a new high after the pizza chain posted results that topped expectations. the beat was largely attributed to robust store expansion and a surge in revenue from the company's supply chain business. domino's shares up more than 5.5% to 144.66. >>> fox news chief roger ailes has resigned. he stepped down today in the wake of a sexual harassment scandal. he denies the charges. ailes built one of the m

july 21st we hear from biogen and celgene.hese companies have a lot of cash and people wonder do they have to buy in order to get growth. and of course data. that is one of the biggest catalysts across the sector. people waiting for eli li lilly in the fall. alexion their big drug which disappointed, later this week they'll present the full data. and a smaller name is sage, data in post partum depression this month some say is under the radar and interesting to watch. >> you're in alexion. >> i am and i like it. i think we'll get better data on july 7th. they may not get approval, but i think you'll get better data points. they have a great pipeline, to that extent i have a question. the ipap was set up and everybody's kind of freaked out about the fact even beyond the election you're going to have more pressure and more pressure on this group and it's just not going to go away. do you think that's the case? and if so do you think this group can actually gain a bid even if that's the scenario? >> this has to do with pricing. >

biogen ceo leaving the company.he latest executive headed out as biogenic continues to replace top managers. the company has struggled recently mainly due to stalled failure of its biggest products. exxon mobil will buy inter oil thandeal bought at more $2.5 billion. the deal has been approved i the boards of both firms. adds to its successful pop a new guinea business. while caterpillar still has more than the combined sales of the two companies, the deal would give the manufacturer of the largest dependent maker of underground equipment and a means to better and peaked with caterpillar. david: it is day four of the republican national convention. speakingump will be tonight to accept the party's nomination for president. ted cruz is looking his wounds after he was booted during his speech last night. you, first of all, about what we can expect from donald trump tonight. he has become more fast silent reading from a teleprompter. can we expect a script tonight? >> it's going to be the biggest speech of his life. he

interesting, biogen raised prices on their multiple sclerosis drugs earlier this year and analysts came from cowan saying these were unexpected upside price increases on these drugs and biogen basically was one of the companies coming out saying we can't bake in such large price increases anymore. >> getting any pushback? i mean, that's another area of shift in the political sphere and the sentiment. are they actually getting pushback? >> the pharmacy benefits and the ones with the most power here and especially in the air of multiple sclerosis. we do have multiple drugs often in the same place. they do start pairing those against one another and other areas like cancer drugs we haven't seen the same pricing pressure on these drugs so it's really one company is very different from others. i should say there was some light heartedness today. martin shkreli asking his attorney a pressing question when they came out from the status hearing, if you have that video, take a listen. >> can i play my pokemon? >> so i don't know if you caught that. he asked his attorney if he can play his pokemo

by the way, biogen, big change there. >> biogen, do it. >> big buyback. scangoes is out.matters. i have to tell you that's a company that had been cut in half, stock has been cut in half. there's something to follow. >> biotech has been on the sell list through much of this year. >> it has been and maybe this deal we haven't mentioned yet, got a bid last night that's a company that has potassium regulator a lot of retail investors were in and that's good news. united rentals making a comeback here. >> it is. >> looks like the orders are better for the rental company for caterpillar. >> moving through them here. just mentioned the ceo of biogen stepping down and move on from there. >> if i don't do it like this i have the best one 6 of all, dominos, patty doyle on last night, domino's completed its ramp from 140 to 120 when people lost face, and patty doyle blows it away with a comp number versus 6.4%. the technology pizza company. you can order it through your apple watch and your twitter and order it through facebook. >> i'm aware. >> it's darn good. >> it is darn good.

we heard from biogen. second-quarter profit coming out and beating analyst estimates. the bigger news is that the company ceo is departing. over doubling in sales at the company. more recently, analysts and investors have been scrutinizing biogen's blockbuster ms drug. it is not growing as much as some anticipation. in the meantime he announced that $5 billion share buyback. we watching the chipmakers today. qualcomm and intel. both of them have had to cope with a slowdown in legacy businesses. qualcomm appears to be navigating changes a little more adeptly. the company is earnings estimates. intel coming out with some disappointing numbers. .etting back to health care we have a suit from the department of justice trying to block the acquisition of cigna by anthem. we are expected to hear from the attorney general around 11:00 a.m. with more details of this. there's not much reaction and if you look at the other big deals where there may be a suit that -- it might bed that this was priced in since there have been talks about this pending suit. >> about 90 minutes away

xlv up -- xbi up 13% and biogen up 25 and many other names followed suit. are they about to get smacked down to earth or to josh's point, the damage is already done? >> the damage is already done. josh is right. to answer the question you asked a second ago. >> buyers, stocks then? all three of you? >> absolutely. to answer the question you just asked a second ago is everything hunky-dory in a clinton administration? this is rhetoric. you can tell it when there's points in there, things like these companies are spending too much money on advertising versus r & d. the lft thing the government needs whether democratic or republican for the federal government to dictate how much a company or industry should spend on advertising or r & d. the sort of thing would never get through congress. would never be accepted by the american people. >> in a republican congress. okay. joe? >> glad we understand how the markets work, first of all. second of all, important to understand is the change in the style of the sector itself. this was a sector in 2015 where if you wer

we'll hear from gilead on monday, solgen and biogen on thursday.rt master, you say a breakout could be foot? >> looking at amgen, one of the bigger ones. i want to put it in context of the performance relative to other biotech. so here's a long-term chart. we'll draw lines. the first thing that i would call your attention to is two-panel chart. the stock itself. the bottom panel is relative performance of amgen to its peer group. so even as basically we have stalled here, there's no progress, your relative performance which is very, very important has been consistently good. outperforming the ibb. i think that's the beginning of your setup. let's draw some lines. here's the long-term chart again. here's your wedge. you call anything. but it is this, it represents a debate. a series of lower highs, higher lows. you get into the apex, a wedge. at some point the gavel comes down, the debate is won by the bear or bull. it looks like we're heading up and out here. and so what i want to play for is the following. here's now at zero into the immediate all

we'll hear from gileasd on monday, amgen on wednesday and biogen on thursday. >> i'm looking at amgen's obviously one of the bigger one the. i'm going to put it in the context of the performance relative to other biotech. so here's a long-term chart and we're going to draw some lines. the first thing i would call your attention to, a two-panel chart. the stock itself. the bottom panel is relative performance of amgen to its peer group. even as basically we have stalled here, there's no progress, your relative performance, which is very, very important, has been consistently good. outperforming the ibb. and i think that's the beginning of your setup. now let's draw some lines. here's the long-term chart again. here's your wedge. it is this, it represents a debate, right, a series of lower highs, higher lows. you get into the apex, a wedge, and at some point the gavel comes down, the debate is won by the bearer of the bull and it looks like we're heading up and out here. so what i want to play for is the following. here's now let's zero into the immediate. this is the all-time high, 181

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 power. this is not a stock i need to run in and chase. i think the bio tech space breakout, let's see where this trades. above the 200 day. 285 has been the top of that trading through that today. maybe this is a turn. >> i think a problem the it's run 15 a% in a month. when they look at pipeline, i disagree. when you look at 16 drugs in late stage and that's possibly right there and the 35 billion of car, there's a lot of reasons to be excited. this is a bio tech, but trades like a pharma. we've talked about this time and time again as that. trades 14 or 15 times. gives you yield. has the elements along with xwrout

if you look at, when you look at biogen coming out later this week and some others next week, the politicaland the political cloudiness, they may have been pushed down a little low here, and the look at where the equities are, this may be an opportunisticking buy. the biosteaks have really -- biotechs have really taken a beating here, and this may be an opportunity for them to flourer. liz: yeah, they're not doing much today. the dow is though. it's not a huge move, but it's an all-time record move. luke, as we look at oil, it's slipping once again. folks, i can tell you today and every single day, we are well above regular stockpiles. we are glutted. we have way too much. so there's going to be a ceiling for a lot of the pricing here. this looks like bearish trading at the moment. >> yeah, it does a little bit. 45, it traded a little bit below 45. it came back, but it's a big psychological level, it's a big technical level. i want to go back to what you said. if there's so much oil and we're supposed to see -- why is the market up so high? where's the growth coming from? i like to see comp

a guy replaced at biogen, a nice move. biotech looks good, a big change.uthwest were two that i was expecting to be very good. >> what about later, what's the highlights after the close? >> well, you know, i'm not quite sure which one i'm focused on. i know for me for the show i've got domino's the absolute standout of the whole quarter so far in the restaurant and i have campbell's soup which will be incredible because i think that's a major turn of the company. i'm focused on those two. i think they will matter. gm coming back down is not something i wanted to see. >> yeah. and actually southwest was initially down and then traded back up. i don't know where it is now. why would gm, is there something that looked really good but was not really positive? >> this is really a pattern for gm. it's -- people get excited about when they hear the number and go through the conference call you hear about different areas that aren't that good. i will tell you and i think that phil was right, i think gm is too cheap and i don't think it's caught up. if they sell th

current companies with drugs already on the market include shire and biogen so a lot of companies working for the market. this could be a real transformation from what we see by biomarin today, guys. >> i'm watching the stock carefully. there was an analyst report that said if this gets a nod, the stock could be up 50%. if it doesn't, the stock could be down 17%. only at 5% right now. how do you read that? >> there was one analyst report out earlier this month saying that these data could lead to as much as 50% increase in the shares. now i talked with other analysts and they weren't quite as bullish on what this update means for biomarin. they are going up about 5%, which is where other analysts were. the company saying they will start another trial and seek accelerated approval here. that could be very meaningful o biomarin. we will talk more about it tonight. >> trading last check didn't seem like it was doing that hot. >> tough day of trading. because of the legal issues and not involved in the company and his brother har lon waxel is not involved. he said maybe there is too much sent

the dow off the lows of the session and biogen is rising on better than expected earnings and increase in full year revenue guidance and $5 billion stock buy back program. 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 a

biogen news breaking in just the last few minutes.o resigning, and the company upgrading is forecast. watch that stop as we head into the open. qualcomm for the sale of two chips. slower growth in the chip division is worrisome because pc sales are not so great either. qualcomm, it is a different story, getting a lot of customers over in china. that is helping boost that well.ker as you have to look at joy global being bought out. it is the world's secon second-biggest mining construction. $2.9 billion, and a huge bet on a rebound in commodity prices. wrapping it up with the european airline travel. easyjet and lufthansa, very bad days for these guys. easyjet in particular being hurt by terrorism fears restricting travel. but also raise it. they are worried they may not be able to travel as freely around europe as they used to. lufthansa lowering its full-year forecast. watching this group as well. busy day. jonathan: coming up, mario draghi and the ecb less than 35 minutes away. we get a decision on monetary policy. that is all of fi