a positive for biogen i would say probably on two fronts here.obviously that we wipe out a competitor from the space. right? one of the key questions investors are trying to figure out at the moment what is the size of the alzheimer's market and how does it eventually get split up today's news removes one of those variables from the picture here in roche's, roche now has a, you know, a horse in the race i think the second question here is obviously, what does this mean for biogen? a company there is a growing thesis on the investors base, in terms of acquisition if roche is out of the picture would they be interested in a company like biogen? >> hyou think a potential deal t happen here? >> look, it's a growing thesis among some biotech specialists we speak to roche and biogen coupled on a couple other projects if roche would like to stay in alzheimer's, an avenue they have enough purchasing power toe do such a deal if they wanted to. probably issue a little stock for that sort of thing this is something that amongst the larger alzheimer's -- rem

. >>> plus shares of biogen jumping thanks to another company's bad day. we'll explain, back in two with gold bond... you can age on your own terms. new retinol overnight means the smoothing benefits of retinol are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. just look around. this digital agerinkled skin we're living in,wo days. it's pretty unbelievable. problem is, not everyone's fully living in it. nobody should have to take a class or fill out a medical form on public wifi with a screen the size of your hand. home internet shouldn't be a luxury. everyone should have it and now a lot more people can. so let's go. the digital age is waiting. >>> we've got a news alert on david tepper's appnnaloosa >> they are cutting kohl's, selling over 1.8 million shares. while there is no change to its larger position in macy's, they hold 6 million shares, macy's earnings or out wednesday before the bell the company, though, did sell over 12% of its holdings of meta the stock pret

we are grateful for all the support from biogen.ery strong shared goal to serve the ails hum alzheimer's communities. >> in partnership with biogen, that will continue, just to confirm. >> we are partners, as i mentioned. yes. >> thanks for clarifying ivan, appreciate it. >> of course >> we'll keep an eye on this drug >>> as we look at the markets here, 35 minutes left of trading. we continue to make new highs on the s&p 500, this hour up 2.5% hewlett-packard, no shortage of winners. we're going to end of month of november very strong up next, liz young joins us with her take, why she says the market is still signal ago recession. we'll be right back. on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. go. go green. go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home.

we will keep our eye on that but in the meantime biogen is falling 4.5%.shooting higher by 39% and that's not even the high of the session after the software company announced a 30-year long deal with yahoo to power native advertising on all yahoo platforms. as part of the deal, yahoo is going to take a 25% stake in the ai advertising agency. stock is still just $2.56. please note. and not a good time to bet on draft king stock after jpmorgan downgraded the shares from neutral to under weight. they are falling 5% to $14.37. the investment bank says that other companies offer a clearer path to online sports betting. draftkings has fallen nearly 50% buy now pay later company " affirm" down 88% year-to-date, but will a record breaking cyber monday lead to investors buying a firm and other buy now pay later stocks? now instead of later. we are going to breakdown the buy now pay later effect as the biggest shopping period of the year gets underway with our panel of experts. closing bell 28 minutes away, and yes, how many times have i said this? yet another new

[laughter] biogen -- listen, he could do worse than john ledger, okay? for its highest close since september of 2021 after its rival roche said its alzheimer's drug failed to meet primary targets in two late-stage trials. its drug show ised a slowing of clinical decline that was not statistically significant compared to the placebo. biogen's experimental drug slowed progress of the disease by 27% versus a placebo. yeah, we've got biogen up 4 plus percent, and roche's partner on the alzheimer's treatment down 27%. other big pharma moves, no -- movers, no moderna spiking. pfizer getting a boost on the upbeat news as well, moderna up 4.8%, pfizer up -- 4%. celebrity backed oatly getting creamed, down 11.6% after a reporting a larger than expected quarterly loss andsi ly a o-p-ztae n,n ngllmps cad c. thk t, ws 'sowst $ $ocock. nonot n memes sbsbro icich h tot from a buy to underperform. focus of the down can grade, hasbro's magic, the gathering, trading card game business. hasbro has been overprinting cards and destroying the long-term value of the business.

you look at some of these names like biogen, gilead.se are companies that meet or beat earnings, raised guidance in the last quarter. you and i would agree visibility on cancer drugs and new diabetes drugs and obesity drugs are visible over the next four months we think it's been a great place to be, and we think people are catching onto that we think there's many to go. >> i want to go through the individual names, but i'm curious, why do you think they were under-owned, you know, two, three months ago >> yeah. if you look at the first half of the year, there were certainly concerns about drug pricing. there was definitely concern about growth quiet honestly, i think most people were assuming we're still coming out of a post-covid recovery play. you go back to the first half of '22, obviously, again, look at where tech stocks were, cyclicals. they were on a terror. look where facebook and google and all of these others are today. there's been a complete reversal as people are fearing inflation, rising interest rates. again, obviously r

and it's us partner biogen. when we 1st began this 2 and a half years ago, we didn't necessarily think it would help us. but we felt we were doing something and could help future generations. it turned out the drag could actually help the trial has shown that the treatment coldly canon mab is able to slow down mental decline by 27 percent. when diagnosed at an early stage, this is so exciting because now we're getting results. the 1st results that indicating that the drug is successfully treating the underlying cause and is slowing down the symptoms of cognitive impairment and also the behavioral symptoms associated with outside this disease. they have been concerns over side effects which include brain swelling. 2 people have died while 14 percent of the trial participants suffered brain bleeds. scientists, however stress that the same number of those given a placebo, also died. the producer stress that the new treatment is not a cure for alzheimer's, but it does bring hope for people like dev. it says the horr

biogen has been on the move after its arrival had its alzheimer drug trial troubles.n the other site, we have hasbro with the debord -- a double downgrade from bank of america and analysts are arguing that hasbro overplayed its hand. we are seeing a decline from oatly. it highlights the continuing macro headlands that are impacting companies and offsetting some of that perhaps muted reaction to stocks in other parts of the markets. >> you do have smaller stories that are making up the parts of the stock market move but you have the mark -- the bond market is doing and microscopic moves coming off key headlines. yet he had that perhaps the bond market is pricing in some of what she is saying. let's dive in be exclusive -- the exclusive interview. >> it will probably be appropriate soon to move to a slower pace of increases but what is important to emphasize, we have done a lot but we have additional work to do both on raising rates and sustaining restraint to bring inflation down. john: let's bring in uber international economic policy correspondent mike mckee. the fac

we have it off 9.2%, biogen fell the most two months in the u.s..e "bloomberg daybreak: asia." this is bloomberg. ♪ paul: china investors will be taking stock of the current calm when it's open and just 30 minutes time. there with us out of singapore today, david dcaa rebound in chinese risk assets today -- do you see a rebound in chinese risk assets today? david: good morning it is looking like things are slightly better than yesterday. the reason i say that close -- towards the close of cash markets, you did have a rise in most benchmarks. i think a lot of things will be tracking, things like volumes for example to give us an idea of how strong this move up. financials and if we get a rebound, it is one of the hardest hit sectors yesterday. commodities overnight on shore had a decent pop. it is an early indication of stability, we would get updates five minutes from now when they resume trade. we did bounce of the 50 day moving average, that i guess in some way underscores how strongly support is. shery: superquick, some good news for developers.

biogen announced a new ceo as well. the stock is up 20% year-to-date, this morning up almost 4%.reak and then new york voters pushing the state purple after flipping four house seats from blue to red. mike lawler will join us on his upset race coming out victorious. stay with us. ♪ because i'm happy. ♪ clap along if you feel like a room without a roof. ♪ because i'm happy. ♪ clap along if you feel like happiness is the truth. ♪ because i'm happy. ♪ clap along if you know what happiness is -- the first-ever all-electric chevy equinox ev. up to 300 miles of range on a full charge. and a starting price around $30,000. evs for everyone, everywhere. chevrolet. meet leon the third... leon the second... and leon... the first of them all. three generations, who all bank differently with chase. leon's saving up for his first set of wheels... nice try. really? this leon's paying for his paint job on the spot... and this leon, as a chase private client, he's in the south of france, taking out cash with no atm fees. that's because this family of leons has chase. actually, it's león. ooh la l

s&p 500 is biogen, moderna, merck, eli lilly. i see a lot of drug and vaccine companies. micro devices, amgen. >> amd got two upgrades i'll tell you more later on. stuart: up she goes 2%. thanks, susan. coming up, crime so out of control in seattle, that one coffee shop no longer accepts cash. we'll hear from the owner. and i have to ask her whose to blame for this crime spree in seattle? and now that the mid-terms are over, speaker pelosi is turning to 2024. roll tape. >> so do you think president biden should run again? >> yes, i do. he has been a great president. he has a great record to run on. stuart: great record to run on. okay, what about crime, inflation and the border? we will get into it and we will be back. going down the only road i've ever known, like a drifter i was born to walk alone ♪ it's nice to unwind after a long week of telling people how liberty mutual customizes your car insurance so you only pay for what you need! (limu squawks) he's a natural. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ ♪ ♪ mercedes-benz is turning electric.

of alzheimer's — the brain disorder which can destroy memory and thinking skills. from eisai and biogenanemab, is being praised as the first drug to slow the destruction of the brain in alzheimer's. the drug, an antibody administered by infusion, works in the early stages of the disease. but there will be further study to check if there is any risk of side—effects. five palestinian men have been killed by israeli forces in four separate incidents in the occupied west bank. the un has warned that the israeli palestinian conflict is "again reaching a boiling point" after an escalation in violence in the west bank and israel. 0ur middle east correspondent tom bateman has the latest from jerusalem. well, the two palestinian brothers shot dead were thafer and jawad rimawi. they were in a palestinian village in the occupied west bank, close to the city of ramallah, and palestinian sources tell us that there was the throwing of stones and some petrol bombs towards the israeli soldiers, and the soldiers responded by opening fire at the palestinians. the two men were killed. they were brothers,

by the way, we've been down this road before with biogen.any people were burned by a drug that came on the market, did not get much support very controversial, okay from the fda that many doctors looked askance at >> the doctors i talked to say, this is one where you don't just start popping pills. you have to start taking it maybe at 40 or 35. and will the government pay for it we don't know. let's not get ahead of ourselves. the numbers last night were good, and that's what matters, and that verifies this move. >> right that's the original move when we got data from this trial >> and the full trial came out -- >> that was the other day before we had any real information. >> this was the deaths may be linked >> and now we're up again because the actual trial results themselves, again, we're getting a closer look, were good >> exactly >> okay. >> this is one where there's just tremendous interest on wall street >> yeah. well, as you say, could be a very expensive drug. it could bankrupt the government, but it also could positively impact mil

results from a trial suggest an experimental drug from eisai and biogen can slow down cognitive declinet drug to slow the destruction of the brain in alzheimer's. the drug, an antibody administered by infusion, works in the early stages of the disease. but there will be further study to check if there is any risk of side—effects. stay with us on bbc news, still to come: we'll be speaking to the man who filmed these pictures of of the hawaiian volcano erupting after a0 years. it's quite clear that the worst victims of this disaster are the poor people living in the slums which have sprung up around the factory. i'm feeling so helpless that the children are dying in front of me and i can't do anything. charles manson is the mystical leader of the hippie cult suspected of killing sharon tate and at least six other people in los angeles. at 11am this morning, just half a metre of rock separated - britain from continental europe _ it took the drills just i a few moments to cut through the final obstacle. then philippe cozette, a miner| from calais, was shaking hands and exchanging flags| wit

beginning with biogen up 6%. lauren: the phase 3 trial, the drug slow cognitive decline, there were side effects but hailed as the first major breakthrough in 30 years of alzheimer's research and that's why stock is up. you make your own teddy bear, build a bear, usually in a mall, they are surging 13. 7%, raising employee revenue forecast and the ceo says people are coming into the store to buy stuff and they continue to see double digit increases in foot traffic. car is above andand, 4%. the price target had been 43, they took it down to $10, worry about cash, and they are burning through cash, >> president biden's department of defense is calling his botched withdrawal from afghanistan a propaganda gift to china. we will tell you how white house is responding. federal agents say they stop 14,$000 from fentanyl this year, we have the full report from the border. despite others at the southern border, msnbc insists there is no border crisis. >> we should not be perpetuating a conversation about a crisis that is

it's your dollar more, take it to, to remove, but all make all of our under sevilla. biogen with this as a new character. demonte of want to me. she also and if it a wanted i wanted it out for the psycho analysis of empowerment to come on. this was the a qualifying event and ah ok. well me my cellular theda. this is, coincides with my jet as they will do my new cell or the testing rose, you will. so up at the up with the will you people as good love of you, beautiful. wow. he no secret approval of little solo want a sealant to live by this way. do cool. but upon to push this out there to refresh and out of hand out of that quite a well, not on order for one on that or since it continues to think, he said puzzle math and what's your 2nd one there to know? my city chatter. gimme one. ok. i sort of didn't have much to pass on the municipal court. we are a sort of donor norman villas on san jose. america said, you know, shorter joe said, oh yeah, no, the colonel. i do not want that across it in front of me down on i've every book or book with it. but as is with jessica was every and you t

: one of the issues is the price, and expense you know we know that there was an alzheimer's drug biogenoping out of reach for most. elon musk apparently developing a brain chip with neurolink expected to give a demonstration next week about this how does your product compare to the one he is working on? and what about pricing for this? >> yeah, i was really hoping that he would be distracted by what is going on at twitter to give us a little bit more of an advantage. with neurolink elon musk looking to do from what i have seen is something that is he sophisticated if you talk to physicians involved moro in other mother about that technology, they will tell you that it is likely to cost quite a bit of money, once it hits the market, and take a lot of time to get there. we're looking to get to market sooner by taking a more simplistic approach, but be that as it way it is still a very difficult complicated space. >> why is it so hard to come up with the right medicines here i mean we had sam waksal on i believe he said one in five people will get dementia if they live till 70. your though

you can see the leaders here, folks, netflix, intuit, biogen, qualcomm and i don't want to ignore oil because it's been the big driver of inflation and there's a much bigger than expected bill -- drive -- sorry, draw down actually today for inventories for the week. so it's not a surprise to me that crude oil is up at the moment, 3% in the after market. we now have it above $80 a barrel at $80.62. what about all these people who say that oil names, whether they're the integrated oils or some of the refiners are the place where eventually we'll go back to $150 a barrel? >> well, i think -- you know, i've always mentioned the energy sector as a sector to be in. i still feel that way. also i think the insurance stocks, they're big beneficiaries of high interest rates and interest rates aren't going down, they're going up and perhaps more slowly but they're going to go up so i think you want to have exposure to a sector that benefits from that and the insurance, the insurance companies in particular are great places to be in a period of higher interest rates. the energy sector, i think en

and outperforming the last week and a half the other group is generic health care, lilly, cardinal, biogen, gilead sciences, all at new 52-week highs. tesla is at a new low. just broke 200 tesla was $400 in january. it's half of that right now. a lot of reits is an ongoing story. very interesting afternoon start to go shape up here. >> bob, thank you. >>> let's talk about the bonds yields are rising. the at any time-year right around the 4.2%. as you can see, the two-year at 4.72 that's well off the 15-year high it hit last week, and then let's move to the price of oil, slightly lower today, right around 92 for wti, just under 100 for brent. oil markets hanging on every word out of china, going up when china seems to be ready to loosen covid restrictions. there you see wti crude down 0.83%. chinese health officials say they're committed to this strict containment approach nat gas prices are up more than 9%, a one-month high on forecasts for a cooler november. our next guest says the s&p 500 could fall another 5% to 10% from here. megan shoo, good to see you today. why do you think the s&p

that a woman died after receiving the experimental alzheimer's drug which it is developing alongside biogen. it is unclear if the death was caused by the drug the news is negative sentiment in the shares. >>> shares of sony nikkei is reporting that the image sense is featured in the series of iphones slated to go on sale in 2023. sony group shares down 1% in japan trading. >>> snap will require employees to work from offices 80% of the time in february the policy comes after the company would layoff 20% of the staff in august to cut costs shares are down marginally in pre-market trade. >>> off to the races shoppers breaking sales records this weekend despite concerns that inflation will force a spending fpull back. adobe reports that people spent $6 billion on cyber money deals. that number is expected to nearly double to up to $11.6 billion when the final tally comes in later this morning. this adding to record spending on black friday and thanksgiving with adobe expecting cyber week to generate over $35 billion in online spending which would be up 3.7% year over year for more on the outlo

. >> as we head to a break, take a look at shares of biogen they are higher.experimental treatment for alzheimer's, trading at the highest level since september of 2021 there is an overall positive tone to many of the other pharmaceutical names after a difficult day, certainly, on friday we're back in two. it's hard to run a business on your own. make it easier on yourself. with shopify, you can have everything you need to streamline your shipping, returns, and product storage, so you can focus on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. >>> welcome back to "squawk on the street." let's give you a quick check on the communication services sector the ticker is xlc. down more than 35% for the year. it's been led lower by a lot of the big technology names such as metaand alphabet another name in the group we're keeping an eye on is disney. according to memo from ceo bob chapek, the company

s&p 500, biogen, moderna, valero energy.nies are at the top of all these winners list. top of the nasdaq. netflix up nicely this morning up $10. 3.7%. amd got a couple of positive upgrades. amd up 2%. dollar tree doing well. >>> inflation hitting childrens toys ahead of the holiday shopping season, wouldn't you know it. lauren, toys are getting smaller? lauren: an cheaper. if they're smaller and cheaper. mgm entertainment, know them for lol. they're making 200 does costing un$10. they had 10 or 15 toys that were that cheap last year. this was huge hit t comes in a downsized version. it costs $25 versus 40. they have the three inch dolls called fashion figets. there they are. selling on amazon. they are $8 each. they have 2-inch brats dollars, they are smaller. this is smaller cheaper for the company to switch. i'm saying easier for the parent discard. stuart: it is true. lauren: it is true. stuart: i use in america, lived here for 50 years. you never use the word cheap. lauren: i use it all the time. real cheap say it is che

weuy biogen was fortunate enough to get through.lt one but you did give us an opening maybe there would be hope here. >> yeah, thanks for raising that, jim. we're really passionate about advancing medicines that can help people with alzheimer's because we've all been affected by this disease as i'm sure your viewers have it's the only reason seniors die in america we don't have a disease modifying drug we need one. we've been working for 30 plus years to find something that could help we think it is going to be that first medicine but we have to prove it and i think the last time on your show we talked about the phase two results, smaller study, the first positive study in all timers that hit the primary end points actually, a competitor announced a larger study that hit a positive end point from east side and that's great news for the field as well because i think the field needs confidence that addressing the plaques can reduce it. the study is fully enrolled and we expect results next spring and in the interim, we have submitted

let's move on, biogen down big today. has this got to do with the alzheimer drug?that's rye so they have an alzheimer drug that's up being tested in trial but there's a publication called science.org, and they reported a woman that participated in the trial of their experimental alzheimers drug and the treatment had actually recently tragically died from a brain hemorrhage, so that's a concern, and you know, we're all looking for the holy grail of some sort of medication that helps us, of course, improve alzheimers and there is just concern this drug might not make it through clinical trials if that case is proven true. ashley: yeah, disappointing news for sure. susan, thank you so much. covered a lot of ground there. coming up, elon musk says his preference for the 2024 presidency is someone sensible and centrist, so would he back trump or desantis? we'll tell you who musk wants on the ticket. interesting. remote jobs are in high demand but they are in short supply. what's the future of the workforce? we're going to get into that and then there's this. americans a

it is responding to reports that an alzheimer's drug it is developing with biogen could be to blame forappened in one of its drug trials. this was down to bring bleeding. eisai has a statement out, basically saying that both cases had significant morbidities and risk factors allowing anticoagulation, and that contributed to the brain bleeding, which caused fatalities there. saying they are planning to fully disclose results of their drug trial on wednesday. shery: let's now turn to vonnie quinn with the first word headlines. vonnie: thank you. a federal judge in washington convicted the leader of the right-wing oath keepers group of seditious conspiracy over the u.s. u.s. capitol riot of 2021. steward rhodes was found guilty of three charges well another defendant was found guilty of sedition. three other people were acquitted of that charge. it is a major win for the justice department, which has two upcoming trials involving the rarely used seditious conspiracy charge. bankrupt cryptocurrency lender blockfi will try to collect 600 meeting billion dollars owed by ftx -- $680 million ow

licenses to continue operating wynn and los angeles sands are trading lower but melco is up 8% b biogenwoman in the alzheimer's test died. you can see shares are down 2%. >>> let's begin with the latest from china protests erupting over the covid lockdowns eunice yoon is on the ground in beijing with more. good morning again, eunice. >> reporter: hi, carl. some good news out of the city that sparked the protest the far western city said it's resuming more public transport as well as delivery services as of tuesday as local officials look to accommodate at least somewhat more of the pushback from the public. the weekend protests were arguably the biggest show of resistance to the chinese communist party since the 1989 crackdown in tianamen square they were sparked by a fire in urumqi due in part to covid controls much of the public ire is directed at the zero covid policy however, there is evidence there are wider grievances many people have been showing blank white sheets of paper, holding them up to indicate their protest against censorship also in shanghai, some people were calling fo

chemical composition it is close to bone tissue is a ring of phosphate backbone, and supplemented with biogenic in the reparative and regeneration of bone tissue, that is, the coating not only holds damaged bone fragments more firmly, but also accelerates the fusion process, by the way, in parallel, another group of scientists creates their own version of titanium implants; the surface that will interact with the patient's bone tissue is covered with titanium fibers. they are several times thinner than a paper sheet. at the same time, they are located at a certain distance from each other . pore size is very important. why is important, because the growing cell of uh, bone tissue, osteoplast, it has a certain size. uh, that's why not just porous materials need to be created with a certain cook size. it is about 100 ee 500 microns the main difficulty in the manufacture of porous material is to obtain a fiber of a given size abroad. titanium is dragged like a wire, the process is long, and most importantly, our engineers have their own method. they called it the hanging drop method pure titanium