bridgestone won't counter his offer for pep boys. he sweetened his bid for a second time on monday to $18.50 a share. that values the company at about a billion dollars. pep boys board said that offer is superior to bridgestones. icahn said it would be a perfect fit for auto plus. a rival that he owns. it rose nearly 9% on tuesday but fell 3% in after hours trade. >> we're going to borrow a line from queen this morning. another one bites the dust. another hedge fund is closing up shop. doug hurst closing seneca capital. the firm returns most of their outside capital on tuesday. it's an event driven fund making bets on corporate mergers, spin offs and restructuring. they're only down 6% this year but in a letter to clients, a r co-founder saying he can no longer make the commitment to run outside capital. meantime it's been a bruising year for hedge funds as a whole but will they fair any better over the next 12 months in 2016? kate kelly filed this report. >> 2015 was a rough year for hedge funds with almost 0 returns for the year as

bridgestone has until thursday to respond. pep boys they have around 800 stores and service centers across 35 u.s. states. closing down .5% on monday but did jump 6% in after hours. and outperforming that performance. >> the ceo of adidas says the firm is not under pressure to sell it's reebok brand. this amid speculation that three big activist investors are pushing them to shed underperforming assets. they already announced the sell of rockport. shares up over 25% over the last three months. >> deutsche bank is planning to sell it's share in hua xia for $4 billion. they picked it up in 2006 because they wanted exposure to chinese retail banking. now they're looking to beef up the balance sheets and they're looking for a turn around and that does include job cuts, also dividend suspension but he remains committed to china at least as a growth moment. shares are down some 11% year to date. >> some surprising names in terms of the bigger performers for 2015. are you hungry for profits? we're going to tell you which markets woul

this on a nikkei news report saying that bridgestone, the swrap knees tire giant, is raising its offeror the company after investor carl icahn revised his proposal higher saying he is going to pay as much as $1 billion for pep boys. now, yesterday pep boys said that icahn's $16.50 per share bid was superior to the previous deal that was for bridgestone. icahn said he would be willing to pay 10 xrens more per share than any legitimate bonefied bid. up to a maximum of $18 .10. again, nikkei said that they're looking to upgrade the bid. carl icahn playing along as well. the shares at least for right now hitting a multi, multi-year high. back to you. >> dom, thanks. you have a bonefied bidding war here. bridgestone versus carl. >> icahn wins again. >> said he is willing to go up. >> i bet he could. >> i'm surprised -- maybe we should be surprised that bridgestone is still in this race. >> oil -- oil inventories are unexpectedly falling. will the rally last? we'll get the trade for the futures picks coming up. plus, micron misses the mark sending the shares lower today. one of our experts o

still ahead, pep boys giving bridgestone until friday to top carl icahn's offer.ow far are they willing to go? ♪ david: welcome back to "bloomberg markets". i am david gura. pep boys playing hard to get. is it worth the price. with why bridgestone initially was interested in this company. it is a japan-based company. interested in was expanding further into the united states. this company has 2000 service centers in the u.s.. arounds has something 7500 service bays in the u.s.. it would be away for bridgestone to expand its services in the u.s. pretty easily. david: put this into a larger context. other auto-parts companies are doing pretty well right now. >> that's correct. there are a lot of things driving that. the average age of cars is the highest it has been, a love and years. -- 11 years. there are 250 million cars on the road, another record. the cars are getting more complex. they need to turn to mechanics, professional shops, and that's where these auto-parts companies are getting sales. david: let me ask you about carl icahn, the way he went about doing

it is a wonderful business place, as well. >> you mentioned bridgestone. there is a tie your right here on the floor. rep. walker: we usually don't get tires dropped off, but we got that gift last week. >> does it tie-in with the fact that you are a former car salesman? rep. walker: maybe so. i think it is the fact that they are a wonderful business. >> there is also the triangle, which may be more people know about. is there a healthy competition between the two? rep. walker: maybe a little bit. they are different audiences in different companies, but probably a little bit. i think they have different target markets that they go after. >> what is the economic health of your district? rep. walker: we have some room to improve, specifically in the area of workforce development. we have 1500 skilled physicians we are not able to fill in the county alone. we have to do a better job of equipping our folks to take those jobs. >> what do you think you could do from here in washington to help those folks back home? rep. walker: i think the first thing we have to

that escalates a bidding war with bridgestone, a japanese tire company.dgestone will decide by the end of the week to -- whether to increase its offer. natural gas futures are headed for the first monthly gain since june and of wiped out mid december losses of 25% after computer models addicted colder weather would boost demand and possibly and the natural gas glut. hedge funds are betting your morning cup of coffee will get cheaper. money managers of embarrassed on coffee for 18 weeks and prices are headed further six monthly loss and likely it's the heavy rain that is posted crops in brazil. that lowers the cost for starbucks and folgers. that is your bloomberg business flash update. bygail doolittle is standing without stocks are trading at the nasdaq. >> the biggest story at the nasdaq is probably is broad-based rally. stocks are sharply higher this morning and all sectors of which is a pity. abovemposite indexes back its 50 day and 200 day moving average signaling long-term buying momentum. leading the charge is consumer discretionary. amazon is at t

bid forpetes with a bridgestone.raise -- in the meantime, have voice is benefiting. there are expectations in the market and that data will indeed be raised. the insurance broker in the will beof merging, it going into the s&p 500 and will be replacing watchmaker fossil -- we tend to see funds that use the s&p as a benchmark when this kind of thing happens. they buy one and sell the other. qualcomm, there have been a lot of questions about negotiations of licensing and china. this is a good sign this morning. patent license agreements higher, and so the shares are getting a boost. >> thanks. that was quite a report. now to the business of media. we spoke with some of the biggest heavyweights in the industry. take a look. >> people are not watching like they used to, but watching as much or more than they used to. an interesting statistic. more people are watching cbs content today then watched a decade ago. they're just watching it in different places. we're in a universe where there is a 500 channel universe were ba

they already had a deal to sell to bridgestone, or bridgestone a them.to buy carl icahn said he willshares in pep boys, and they say they like his offered better than the offer from bridgestone. you can see that this stock is gaining, and it is part of carl drive moren to consolidation in the auto parts business. he bought a canadian auto parts supplier this year. politics.ning to donald trump is in the middle of the firestorm of controversy he created. republicans and democrats are condemning his call for a ban on muslims entering the u.s. one of trump's middle eastern's nest partners is drawn the line. this is trump making the comments in south carolina. calling for ap is shutdown of muslims entering the united states until our country's representatives can figure out what the hell is going on. ago, we short time heard speaker ryan telling republicans not to endorse his comments and his policy on muslims was inappropriate. jeb bush called trump "unhinged." joining us is ron christie. bloomberg politics, steve. unhinged, ils him guess that is his retort for being called blue energy.

. >>> new at 6:00, auto service giant bridgestone has two weeks from tomorrow to complete the purchase of philadelphia-based pep boys. the deal would give bridgestone pep boys tires, fleet service, and warehouse businesses, plus more than 800 pep boy stores and other garages. the sale could put hundreds of jobs in jeopardy. >>> the future is looking bright for a group of kids in south philadelphia. a popular playground is about to get an entirely new look. mayor michael nutter, councilman johnson, and philadelphia eagles connor barwin took part in a ceremony on south 24th street. the 7.5-acre site will soon include basketball courts, playground, fitness trails, and multipurpose field surfaced with new turf. >>> taking a live look from the blue cross riverrink at penn's landing, the conditions are better for ice skating than they were last week. in just three nights, crowds will gather to ring in the new year. nbc 10 is helping your family celebrate 2016 with fireworks along philadelphia's water front. this year's sugar house new year's eve fireworks display will be televised live on nb

>> is great news for bridgestone, pat boys, a good thing they have gone to bridgestone and said thisrd said it is better, they like it better, good news, pretty expensive for a company that is struggling but the idea is to reposition the company strategically and figure out how it can succeed, if it competes with more dealers, bridgestone has the upper hand in terms of distribution. >> shareholders are happy. dagen: speaks to the strength of auto sales, leave this year and in recent years, looking at you have to factor in december but a potentially record year for auto sales. >> one of the smaller players in the group, pet boys has market value talking about $1 billion. >> for o'reilly automotive a $25 billion company, autos and $22 billion, so trying to help this company of taking over structuring and the like, that is -- >> with the end game, looking at multibillion-dollar company. dagen: get it to grow. >> a lot of people like pat boys, they feel they can identify, and have to do with your history. dagen: we can talk about it and they all day long. of for all whether this is the b

bridgestone will decide by the end of the week whether to increase its offer.ay at dupont. they will eliminate 1700 jobs at the delaware headquarters. earlier this month, they agreed to merge with dow chemical. the combined company will soon be broken up into three separately traded corporations. hedge funds are betting your morning cup of coffee will begin cheaper. money managers have been bearish on coffee for 18 straight weeks. a big reason, heavy rains have boosted coffee crops in brazil, the world's biggest producer and cost for lowering the starbucks and the maker of the folgers brand. let's go to the markets desk, where julie hyman has a look at individual names, starting with -- julie: apple. apple has been underperforming the market, but it is turning around at least today. the stock is up the most since 1.8%.december 4th, up in doesn't look like there's a specific catalyst, but just recovering after recent underperformance. if you look at the month to date performance for apple, users see a sharp decline of about 8%. there is still a lot of negative a

carl icahn has defeated bridgestone in the battle over pep boys. bridgestone declined.top the investor $18.50 an offer, you said you can take it, uncle carl. has been the company to buy. and total he paid about 1 billion for the company as well as a 40 million termination fee to bridgestone. pulling back about two and three-quarters percent but icon interprices is up just a fraction. speaking of just. just in time a major crack down on terror foiling two isis-related attacks that were set for new year's eve. first in belgium breaking news as i mentioned at the top of the show. brussels canceled their new year's celebration. comes after two attackers planning a horror show just like the one last month that killed 130 people. police found propaganda inside the suspect's homes. now, to turkey a pair of suicide bombers who were planning to target new year's eve events. back in the u.s. a different story we're thankful to say ahead of time square new york's top antiterror chief reassuring the public there will be no safer place than tomorrow night in new york city. listen. >

pep boys says its board has deemed icahn's offer a superior proposal and gave bridgestone until mid-weekspond. shares rose almost 7% to 16.85. a positive note from an analyst lifted shares of fitbit in today's session. pacific security says the fitness band maker's holiday sales have been exploding. since a weak black friday performance. shares were almost 5% higher to 29.10. and mcdonald's is considering a sale of part of its stake in its japanese arm. that's according to a nikkei business daily report. the unit could go for more than $800 million. shares rose a bit to 117.69. >> and as the year winds to a close, many stock market watchers are looking back at 2015 to see which stocks had really lousy years, underperforming their peers. dominic chu takes a look at these misfit stocks and whether their luck may change in the new year. >> reporter: many stock market investors are already taking a look at whether the current environment has created potential bargains. in other words, which stocks that have fallen out of favor could be the big winners next year. think of them as the misfit s

bridgestone has until tomorrow evening to respond. shares of pep boys jumping 3% today to $17.40. >>> the regional cable operator cablevision facing scrutiny from state and city regulators over its deal to sell to french conglomerate altisse. new york state and new york city are concerned the deal would negatively impact consumers. shares of cablevision closing down 0.75% to $31.54. >>> investors getting their first chance today to react to a late warning yesterday from bed bath & beyond. the retailer revising its third-quarter guidance and said its fourth-quarter sales will be lighter than expected. the company has seen a decrease in in-store transactions as online sales rise. shares of the retailer fell 4.5% to $48.97. >>> and hyatt hotels was the target of a malware attack. the company says that as soon as it discovered the suspicious activity on its payment processing system, it launched an investigation, which is still ongoing. hyatt says it has strengthened the security of its system and has notified customers. shares of hyatt u

topping the bid from bridgestone.n christmas eve bridgestone had upped its offer to about $950 million. shares of manie, moe and jack were off just a fraction today to $17.41. >>> well, the holidays seem to have been fairly good this year. according to mastercard spending pulse, sales excluding auto and gasoline grew nearly 8% during the traditional holiday shopping season, which runs from black friday to christmas eve. but now come the returns, and it's not just online. and as courtney reagan tells us, those returns may be just the thing to set the stage for a comeback at the physical stores. >> reporter: the main gift-giving holidays are now in the rearview mirror and retailers are betting on returns to fuel end of year sales for two main reasons -- recapturing the sale of an unwanted item and selling through leftover merchandise. the national retail federation estimates holiday returns could be worth more than $50 billion. now, many are crowning online retailers like amazon the winner this holiday season. but this

bridgestone out bid carl icon to takeover the service. it amounts to $15.15 for each pep boy's share. the board of directors is recommending it. pep boys, m any, moe and jack. bridgestone is now based in tokyo. >> open rolement for health insurance exchange is looming and delaware officials are encouraging to enroll now. 8,000 delaware residents have already chosen a plan during open rolementment when you sign up be prepared for rate increase by as much as 22.4% and also remember there is a penalty for not having coverag coverage. >> celebrity chefs and host michael simon is coming to atlantic city. simon has said he will on italian restaurant at the borgata next fall. it will feature food he grew up eating authentic italian. simon has award winning snrawnts cleveland and detroit and other cities than will be the first in the delaware valley. he has not decided on a name for that restaurant. >> and the eagles have their it eye on first place in the nfc east an a win at the linc today could put them in a good spot pour for the playoff. the

bridgestone now has to make another proposal by a wednesday deadline.o divest $1.25 billion of contracts. that is a larger figure than previously disclosed. the federal trade commission rejected that offer without making a counter offer. the company is willing to continue negotiations with regulators. and it turns out hot isn't so green. it is one of the nations most power-hungry industries. the 24-hour demand of indoor growing sites are taxing electricity grids. demand could intensify in 2017. advocates are trying to legalize for recreational use in several states, including california and nevada. that is your business flash for this hour. apple and swedish communications giant ericsson settling a long-running legal dispute over the terms of a new global licensing pact. they will pay royalties for the next seven years. terms were not disclosed, so how big of a deal is this? joining me is matt larson, director of bloomberg intelligence. he has been following this dispute closely. tell us how big of a deal is this really? matt: this is a big deal for eri

bridgestone had increased its offer to $17 per share on december 24.in the company. the executive chairman of mac moran is stepping down. e will resigned as chair and leave the board of directors on thursday. this announcement follows the recent revelation that carl icahn has taken a huge stake in the company. gerald ford will become nonexecutive chairman. and a demand for women's clothing gave a boost to holiday sales. early spending figures say they rose 29%, excluding autos and gas. november and december, sales were up at her than expected. and the latest "star wars" movie broke the $1 billion mark before china could even see it. producers anticipate it will play very well in the world's second-biggest film market. it opens in china on january 9. "star wars: the force awakens" took two weeks to earn $1 billion. the previous record holder was "jurassic world." and that is your bloomberg business flash. k, skating inis mar from thailand. also joining us is frank. i want to look ahead to see what investors should look for in 2016. mark, wished investor

bridgestone has decided to bow with pep boys.t -- for pep boys. an offerhad accepted with bridgestone last week. icon said he would raise his bid even further. cahn said he would raise his bid even further. three ships now operated by the coast guard sailed inside the china sea zone. treaty-bound to come to japan's defense in the event of an armed attack. widespread misconduct, black bell and bribery among the potential crimes. the opposition labor party said it was politically motivated, aimed at discrediting its ties with the union movement. we are seeing the hang seng down a third of 1%. the rest of the boards gaining. ♪ >> from our studios in new york city, this is charlie rose. charlie rose: we continue our examination of the magnificent human brain. kids and young adults make nearly 250,000 emergency room visits each year as a result of brain injuries caused by sports. our increasing understanding of this effect has ignited a national discussion about the risks of contact sports. tori turned down a full scholarship to play soccer after she s

he would raise his bid even further if bridgestone made another offer. u.s. stocks hit a three-week the firstng to cut global loss for equities in four years. all 10 main groups advanced. lower u.s.orecast of stockpiles. the s&p extending its longest winning streak in a while. the nikkei is also up. ♪ >> from our studios in new york city, this is charlie rose. rose: we continue our examination of the magnificent human brain. kids and young adults make nearly 250,000 emergency room visits each year as a result of brain injuries caused by sports. our increasing understanding of this effect has ignited a national discussion about the risks of contact sports. tori turned down a full scholarship to play soccer after she suffered her fifth concussion. she joins me now to talk about her experience. we'll also hear from a remarkable group of scientists. dr. eric kandel is a nobel laureate. i am pleased to have all of them at this table. tell me about concussions among young people. kandel: this has emerged as one of the major health issues of our time. why is that so

that escalates a bidding war with bridgestone.ridgestone says it will decide by the end of the week whether to increase its offer. goodell will spend another two and a half months behind bars. the former goldman sachs director has lost his bid to get out of risen as a federal appeals court has rejected the claim against him that it failed on procedural grounds. gupta was convicted in 2012 of insider trading. break, let'sto quickly take a look at the markets. it has been an incredible rally , started perhaps by the rise in oil prices. the dow is now making him even more of the losses that we saw yesterday, up 215 points. up next, famed investor jack bogle talking about the three factors he uses to predict returns. ♪ betty: welcome back to bloomberg markets, i'm betty liu. stock markets are taking off today, hitting their highs of the day. how about next year? ofpoke to jack bogle vanguard group. he spoke about his predictions for 2016 and his three factors for predicting those returns. knows the future. i am guessing the economy wi

pep boys, there's been it bit of a bidding war between bridgestone and carl icahn. boys, he already owns a decent stake in the company. say that they think is offer is superior to the bridgestone offer, which was agreed on in october, i think. carl icahn, taking the lead here. bridgestone will be the next of either hand. either way, brendan, you look fantastic today. you just put on a suit in that's it? brendan: and like a big boy tied. not a clip on. matt: nice. brendan: down to the three stories that matter, none of which being my suit, speculation that suppliers from the middle east and u.s. will exacerbate a glut on market share. u.s., drillers putting the most back to work since july on friday. here's what struck me, right? focused on cost, that's happening in the middle east, a new development. going higher on brent, there is pressure on producers, even in those areas where it's cheap. i think the real issue is that this is causing a big problem throughout capital markets hitting a high-yield, creating equity market volatility yield picking up without banks re

it is a promise to talk any bid from bridgestone for $.10 a chairshare.as until sometime today to respond. 3.4% to anre up , the saleste of -- rate for october was revised betty year today, new home sales are up 4.2% helped by job growth and relatively low mortgage rates. and the year is starting on a brighter note as consumers are in the holiday spirit. we will look at the index not jump to 98.6, that is the highest level since july. it was 91.3 in november. that is the business flash. we are 15 minutes away from the closing bell. .amy has your market check you can feel that the markets are spinning out as we get closer to christmas. ramy: we only have about half of the trading day left tomorrow. looking at today, we can actually see that some of this volatility is pushing the market into the green. it has been green, green the whole day. markets are at session highs and we are three for three in the past 30 days. the s&p 500 is up by 1.2%, maybe at its highest for the day. and the dow is up 1%. aboute nasdaq is up o .8%. we are now positive year to date

rallied more than 16% taking on recent gains in the companies said icn software is superior to bridgestoneuntil thursday to respond. cheryl: to formal personal bankers accused of stealing $400,000 from inactive bank accounts. that is paid account holders were dead. 27-year-old jonathan france is charged with crimes including conspiracy and second-degree larceny. the band and their conspiracy and their conspirators made 350 atm withdraws from about 15 accounts. all this according to an indictment unsealed this month. a third alleged conspirator rent this month. police are looking for a fourth person in the case. coming up, justin bieber is in hot water. we like him, but he somehow water over the marketing of his new album, purpose. we are going to tell you a san francisco authorities spot more than an apology -- we are playing the music to get you going this morning. monday night football denver broncos gave themselves a playoff for a lot more than baseball. not without some baggage. all of the details coming up. u.s. stock market futures, dow, s&p looking higher. you are watching "fbn:am,"

has escalated his war with bridgestone as he seeks control of pep boys. he raised his offer to more than $1 billion. had recently chain accepted a sweetened offer. china cracking down on peer-to-peer platforms. they're vowing to cleanse the market. the platform should serve as an intermediary. says theys the pboc are strengthening oversight of online payment firms. kong,e of markets, hong shanghai, swinging back into gains. gains in some parts of the region today. those are your top headlines. ♪ >> this is bloomberg west. cori: i'm in for emily chang. mark zuckerberg fires back at his critics about expanding internet access in india. 'tis the season for jeff bezos's net worth to soar. gender and racial equality are back in the spotlight as twitter names a new head of diversity. now to our lead. facebook's mark zuckerberg making a personal appeal in one of india's leading newspapers insisting that the country allow , a free internet service. india, secretary wrote "instead of wanting to give people access to some basic internet services for free critics co

with bridgestone that they think bridgestone will come back?> yes. that's the belief that bidding will go higher. if bridgestone were to come back, they would want a larger termination fee. mr. icahn says do not raise the termination fee if you go up. there's still back and forth, even though they've already done it, back to both. excuse me. >> throwing your pen at me. >>> the "wall street journal" reporting that elan musk is trying to hire from rivals, according to "journal" he's even going out to twitter to recruit engineers. tesla has about 14,000 employees. this is an interesting story to watch over the next year as ford, we know what been hiring a lot of employees. >> autonomous vehicles as well. software engineers. the number of employees per vehicle is far higher than many competitors. >> tesla. >> yes. >> far higher. they do more in-house than other auto motive makers. they want to ramp up volume. >> tesla is flat over this year and last year. if you zoom out five years, it's a tremendous climb higher for tesla. >> that makes it interes

has escalated his war with bridgestone as he seeks control of pep boys.ed his offer to more than $1

bridgestone said it would not counter the race author. a dealer handing a bidding war.etened its offer for pep boys for the 1850s share. it values at about $1 billion. jo: even though this is a short holiday week, there are economic reports this morning. pending home sales for november will be close to watch and consider deleting in decatur for sales. economists expect an increase of five tenths of 1% could increase it to 10. cheryl: one of the biggest tourist and shopping destinations including times square after 15 years. toys "r" us has confirmed it will close its flagship location on broadway december 30th. company spokeswoman says the new location is not been chosen yet that toys "r" us is searching for space somewhere in midtown. jo ling kent overreporting later yet today. i want to see what the big dragon thing on the second floor. i think it is a dinosaur. you've got to go up there. jo: that real estate is so valuable so we will be watching to see who takes it over after toys "r" us moves out. in today's edition of "the wall street journal," investors sparring o

the billionaire activist investor is one-upping bridgestone's offer to buy auto retailer pep boys. activist investor offered to buy the company for $16.50 per share in cash and that beads $15.50 offer from bridgestone. we have breaking news, u.s. officials confirming just over an hour ago that six american soldiers were killed today in that deadly attack in afghanistan. one of the deadliest days of the year for the u.s. military in that country. the soldiers were killed in what appears to be a suicide attack north of kabul. three other soldiers also wounded. the number of american troops and civilians killed in afghanistan this year rising to 20. we're going to have much more on the story as it develops. >>> more breaking news, the man accuse of buying the two rifles used in the massacre in san bernardino earlier this month. he is in court today. 24-year-old enrique marquez was charged last week with conspiring to provide material support to terrorists among other offenses. we've got one of the best reporters down there, at the scene, we have fox news' will carr, he is live from th

bridgestone has until wednesday to respond. >>> and the carolina panthers say perfect cam newton passinghdowns, a game-winning field goal drive against the new york giants. the panthers are 14-0 with two games left to go. >>> and losing money? retailers, record-breaking heat wave has become a nightmare for stores who rely on cold weather sales to boost profit heading into the end of the year. how do you say that? planalittics say they've lost 170 million dollars in september alone. connell: well done. epic fail that everybody is talking about from the miss universe pageant, and just because as i said a few minutes ago we're all bad people and like to laugh at other people's failures. steve harvey said the winner is -- >> colombia! [ cheers ] >> i have to apologize. the first runner-up is colombia. miss universe 2015 is philippines! >> just the facial expressions make it worthwhile and watching again and again and again as we've been doing, bruce turkel joins us, beside this being funny, and i will say i was one of the first people to laugh at it since i was up early this morning. anythin

carl icahn and bridgestone have been going back and forth in a bidding war.han whatever bridgestone 1810 -- up to a cap of $18.10. we will see them rise on that news as well. celgene, anat interesting drugmaker that had been in a fight with matt: over one of its drugs. they finally sell that settle that fight and not go so that matt: -- 2022 -- and a lot of retailers are having a tough time going into this holiday season. 6.25%th & beyond is down because the company released limitary figures below its estimate in terms of profit, same-store sales and earnings. bed bath & beyond said their same-store sales were down 2/10 of a percent because brick-and-mortar shops, internet sales are up 25%. -- nikeout yesterday -- china revenue in the quarter of 24%, almost $1 billion. this company is firing on all cylinders but it is the shoes. i was quoting mars blackmon when he said it has to be the shoes. the shoes make up the lion share of their property -- profits. stephanie: it is the margin on those shoes. jordans, the golden state warriors question, it is the number

bridgestone has to make another proposal by a wednesday deadline. boys gained 16% this year through the end of last week. is your business flash for this hour. let's head to the markets desk for a check on some of the company movers starting with joy global. ramy: joy global moving because of analyst recommendations after a call was raised to market perform from underperform. joy global up by about .5%. their acquisitions in hard rock mining are a good strategy, but it did lower its price target to 10 dollars. another stock moving today is tiffany jewelry, raised from a buy to a hold. tiffany shares are getting a nice ump up right now. jeffries says its 12 month price target is getting raised to $100. the main thinking is it is time to get a rare opportunity to get a high quality company at a discount. tiffany shareser did lose nearly 2%, their lowest since mid-2013. let's look at the performance of joy as well as tiffany year to date. joy is in the orange and you can see joy is down by nearly 75%. 37%.ny is down by nearly if you are in mining or th

pep boys gave bridgestone until friday to increase its officer. pep boys, which sells auto parts and fixes cars, has about 800 locations around the country. >>> no shovels needed for this groundbreaking. check out the subaru outback doing the heavy lifting at the company's new home in camden. it said it was getting too expensive to do business in new jersey, so it accepted $118 million in tax credits over a ten-year period to move to camden. the company says it will bring its 600 employees and hire 100 more. subaru plans to finish construction by the end of 2017. >>> we may feel a little chilly tonight. but the warm-up is here. >> nbc 10 chief meteorologist glenn "hurricane" schwartz has his mild first alert focrecast. these temperatures are amazing. >> in a normal year this would be considered a pretty warm day for december. but this is just the beginning of the warm-up we're seeing. 58 degrees today. the average high is 47. we're going to go up every day as we go into the weekend until we could into record territory. we're in the 50s everywhere

overtook bridgestone. icon went to 1750. bridgestone has a chance to retaliate.are up to 1850. a billion dollars in value from karl icahn. now it is back over to bridgestone. 5:00 p.m. new year's eve. a competing bid here and there are combinations that they are both battling it out. i know you know that. stuart: [laughter] you have been in the business for a very, very long time. i never doubt you for one moment. stuart: yes, i am old. >> a very, very long time. thanks, nicole. stuart: whole foods. basically unchanged today. coconut shrimp at a whole foods in new york city. if you did, you overpaid. >> $500,000. overcharging. what i loved over the summer is a blatant their employees for mislabeling products. blame the people that you are paying $10 an hour for your issues. >> all of those obama voters. >> all the s&p five sectors are up. stuart: where does that come from? >> i decided i would give you a little update. that affluence team has been detained in mexico. they have been on the run and now they are in handcuffs. this is the privilege of the rich. >> a

they agreed back in october to an $835 million buyout from japan's bridgestone corporation but icahnped that offer and disclosed he's already bought 12 percent of pep boys stock. the company has not yet announced its response to icahn. >>> the federal trade commission says it will try to block the proposed $6.3 billion merger between staples and office depot. regulators fear allowing staples to buy out its rival would lead to higher prices for consumers and businesses. office depot merged with offs max two years ago. >>> the major stock indices can were all down yesterday. the dow fell 117 points futures point to a lower open. >>> keurig green mountain the single cup coffee machine maker is being sold. a private equity firm is buying the company for $14 billion. the company jab holdings already has several coffee investments. sales of keurigs pods and brewers has declined sharply over the years because it seems like everybody already has one. >> i'm sure you do, too. >>> 4:47. still to come on "action news" a zombie nativity display is causing a bit of an uproar. you can see why in a

bridgestone is in the process of buying the auto parts chain. >>> philadelphia police say this man burglarized stores and restaurants in the frankfurt section of the city by throwing rocks through the front windows. the crimes happened during the week of thanksgiving. officers arrested steven glemser over the weekend. >>> one more night of traffic troubles for drivers in south jersey tonight. demolition work is on the 295 bridge over route 42. starting at 8:00 tonight one lane will close. two lanes will close at 10:00 and all lanes will close at 11:00. follow the detour signs. all traffic will be back to normal at 5:00 in the morning. >>> it is a date which will live in infamy. today marks 74 years since the attack on early harbor, and people from across the nation and the world are remembering those who lost their lives that day. in camden county, a ceremony paid tribute to all veterans who served. dozens came out to be recognized and show their support. about 2400 americans were killed in the attack 64 years ago. >>> the pennsylvania state trooper shot last month in a shoot-out had his belt

. >>> and a wrench into the pep boys $835 million buy out from the bridgestone corporation.oday, they dropped the offer disclosing he already bought stock and pep boys has not announced the response. >>> one ever the big of the attractions, the miami zoo shutdown because of flooding. several walkways under water and moats used for barriers between the animals and visitors flooded, and there is concern the animals can simply swim across them. it hasn't happened yet. close to 11 inches of rain fell in a 24-hour period. >>> all right, here we go. reality tv star kim kardashian and her husband, kanye west, have named their son saint west. kardashian gave birth early saturday morning, waiting until today to make the name public of the saint weighed in at 8 pounds 1 ounce and joins older sister, north, who is 2 years old. >>> dozens of hard-working moms from camden treated to an evening of pampering tonight. the salvation army hosting operation cinderella. and the women enjoyed a shopping trip to the cherry hill mall arrivals in limousines and given gift cards to spend on themselv

pep boys called the deal superior and bridgestone made an initial offer for the company and has untilw to make another offer. >>> federal regulators rejected staples plan to revise its deal to buy office depot. staples wants to pay $6.3 billion to merge with its rival and offered to sell $1.25 billion of contracts to ease concerns that it would end up controlling too much of the office supply market. the federal trade commission believes it is crucial to keep the retailers separate to maintain fair prices. >>> the major stock indices all saw gains yesterday. the dow jumped by 123 points and futures point to a higher open. >>> target released renderings of a new store to be built or renovated in philadelphia. the retailer will take over the whole foods location at 20th and pennsylvania avenue in spring garden in october of 2017. whole foods is moving to a lamper space now under construction. >> it is now 4:48 and coming up next on "action news," bill cosby one of his local accuser. >> pennsylvania's highest court rules on whether governor wolf has the authority to postpone executions i

bridgestone has until 5:00 p.m. eastern today to respond within new proposal. talk a little bit about active investors in just a few moments. that is your bloomberg business flash this morning. let had to abigail doolittle live from the nasdaq looking at two early laggards on a day when looks at we are making it three for three on a rally. abigail: you are right about the rally, but the losers -- the company missed earnings estimates and guided revenue down. even so, a number of analysts are down -- out defending the stock, saying the earnings are better than feared, suggesting a bottom might be taking place. saidt suisse came out and something along those lines, sane while the second quarter guide was well below expectations, it should mark a bottom. turning to bed bath & beyond, the shares are down after the company pre-announced its fiscal third-quarter earnings, citing softer in-store costs, and there bankber of cuts, including of america, suggesting the stock may drop another 10% on what has already been a difficult year. betty: indeed, difficult is right.

that comes out to more than a billion dollars but the bridgestone tire company could counter.ve got until thursday to do that. >>> stocks were in the red yesterday, all major markets were down but this morning futures do seem to be pointing to a higher open. >>> it could cost you more soon to send your teens to see grandma on their. oh united airlines is now charging $150 for kids who fly alone up to the age of 15. the fee used to apply to children up to the age of 12. delta and american charge the same price for similar age ranges so it looks like it's just the going thing if you're sending a teen on his own. >> okay. 4:48 now and coming up later on "action news," the animal rescue in missouri. they saved a dog from being put down and managed to find the owner who lives thousands of miles away. >> dashcam video shows a pennsylvania fire chief can come to the rescue after a crash. more when "action news" comes back. >> ♪ >> ♪ >> well, in less than shocking news it is raining yet again. wet roadways across its region but the good news is it is just rain in our immediate area. a

pep boys recommended shareholders accept the newest bid from bridgestone. .he deal would be worth $947 million . >> homeowners can breathe a sigh of relief tonight even though the federal reserve rate raised interest rates for the first time in years and mortgage rates have not risen but gone down according to first report since raid hike. freddie mack says the afternoon mortgage doypd 3.96% and it's reminder the fed has only indirect affect on long-term mortgages. >> since we're not getting a white christmas here we wanted to show you what that might look like. the heartland getting hit hard tonight. home a ha, nebraska, six inches of freshly fallen flakes and parts of northern california winter storm warning and national weather says they could get up to a foot and a half of snow there by tomorrow morning. but, you have a mental snapshot of that we will not see it any time soon. >> no, no, it's almost spring like out there. and it's kind of a good thing we're not seeing snow. with all the rain over the last few days if it would have been snow it would be ov

boys did previously reach a deal to be acquired back in late october tor $835 million in cash by bridgestone. but ikan taking a stake and that stock is up 11% after hours. >> and this is a interesting buy considering the acquisition and the fact that pep boys is up 60% year-to-date. it is not a beleaguered stock. >> he is playing in the risk space. that is what that is. you are making a bet that the deal closes or get a better one. that is as simple of trade as you could find. people sell calls against the long stock positions up around where they think the deal will get done. you know, and maybe it is because some of his other big bets, as you point out, haven't been working. he's moving into a different type of trade right now. >> in the auto sphere, these auto parts retailers have been doing better than the auto stocks. >> well, we've been talking about on the desk, and carl -- and i know you have views on it. the stocks were about 18 million and people are asking is this as good as it gets. the auto parts, if it is as good as it gets, they should perform if auto sales decline. >> you alw

. >>> bridgestone's retail unit has hiked its offer price to purchase pep boys to more than $850 million. the move is an effort to match billionaire investor carl icahn's bid for the firm. shares fell a fraction today to 16.22. and royal dutch shell announcing its plans to cut 2,800 jobs after it completes its statakeo of its rival b.g. group in an effort to cut costs. shares fell more than 1% to 43.95. >>> today is december 14th. also one of the busiest shipping days of the year and the busiest bar none for the postal service. morgan brennan takes a look at how the shippers are faring. >> reporter: today is green monday, the third largest online shopping day of the year. before holiday shipping deadlines come to a close later this week. it's also the third peak day fedex forecasted for this season. and the u.s. postal service's expected busiest day for mailing cards and packages. as we head into the holiday home stretch, how is this peak shipping season shaping up? for starters it began earlier, ahead of thanksgiving shipments yumped as amazon and retailers like target rolled out door b