value, but this setback may not be as bad as it seem >> the save three trial failure is a blow to bristol myers squib and patients. still, some say things are aren't hopeless. >> i think bristol's down a little much. you would believe that the story today in long cancer for this particular drug from bristol myers, would never again raise its head in lung cancer. that's to say there would be no hope for bristol myers to be in lung cancer in the future and my sense is that's probably incorrect. >> news was a win for merck, who's competing drug succeed ed in a son s w shooting for a home run. trying to use an already successful cancer drug the to take on lung cancer. one of the highest unmet needs of all cancers and at least one analysts estimates the market at $12 billion. it's also the most common cause of all cancer deaths. according to the national cancer institute, so bristol myers went for the broadest trial possible with a bigger risk of failure. >> i think they would have similar outcomes. the trial in lung cancer . the reason for that is simple. the drugs are extraordinarily similar. almo

>> bringing in nancy tangler, she got completely out of bristol-myers last year. rck up 5% in a year, bristol down 3%. a tremendous move by you. what did you see coming to make you make that move? >> oh, brian, we're valuation driven. we were to a point where bristol was too expensive and forced to trim and then eventually eliminate our holdings. then you, you know, we faced the down trend in pharmaceutical and biotech stocks, and it's not even today yet quite attractive enough for us, but we are looking after this event. usually, these stocks go from love to hate to disappointment and neglect. we are going to wait for settle valuation to set up for us, even on a technical basis, it's on a technical move down although we look at things fundamentally. >> well, okay. know that bristol-myers has the day it had with a massive drop, do you relook at bristol? not only is the price down, but the valuation metrics we look at are coming down. is ems now a valuation stock? >> yeah, it's close. i think what i'd like to do is just let kind of the people that are going to get o

bristol myers sinking quite a bit.implications more broadly for other companies working in immunotherapy including es tra zdenka, roach and pfizer. a shake-up in the whole sector now. >> for certain. meg terrell. thanks for calling in. talk soon. >>> josh, steph and jon, all bought brittle myers. doc? >> bought it for clients, bought it in the pre-market even, judge, before some of the more in-depth stuff was actually coming out, just because we believe this company is not just about one drug. not a one-trick pony, but when you spend the money to get to the phase three, which meg can talk about ad nauseam, a drug i phase three you've spent hundreds of millions of dollars to get to the that point. why they're hitting the stock so hard today because of the spend. they're not going to shelf this thing or throw it away. just as meg said, they're more likely, judge, i believe, to move on concentrating on a different group of patients, and saying, okay. this works, and/or it works as a cocktail -- that move in, steph in bris

forbad could he get bristol-myers squibb?if you look at the run rate, $24 billion for this drug, opdivo, it is supposed to hit it billion dollars by 2018. i could see that being toned $2 billion or so, just because this is such a big market to go into. , ase: how big is the impact we can see today, on rivals? why are we seeing the benefits play out like this? asthike: it is honest like this is a zero-sum game. every lung cancer patient treated by one company is one less for one of the others. it is a tough market because you have 4 companies with very compelling products, especially in the lung cancer setting. a slice all vying for of this pie. first-line lung cancer patients that are diagnosed every year in the u.s. that is quite a large market. scarlet: how do they address this opportunity? two they change with their doing or continue with the game plan, these rivals? asthika: well, i think they continue, but the focus is on speeding up what they're doing to get this finished quicker and make sure they had this in the regul

. >> and then bristol-myers. >> says right there. bristol-myers and merck we will talk about them.t is actually never good news when a drug and a -- fails to reach the end point certainly when talking about lung cancer. but these two stocks going in opposite directions. a closer look. also take a look at futures and don't forget jason furman will join us for a first look at the jobs report, we got a lot more "squawk on the street" after this. bchl ♪ we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. . >>> we have some big moves premarket for merck and bristol-myers. bristol-myers is going to be down sharply, after announcing that a lung cancer drug that it has been developing failed in a late stage study. merck is rising because investors feel its own drug could benefit from bristol-myers' failure. i mean those are hu

to give up on bristol-myers at 58, 59, i think that's a mistake. i'm with you. >>> take a look at the game plan for the week. the fed chief is in charge on friday. wall street with you on every word. make sure you're listening to every word. iphones, tablets, think you missed the move on mobile? with the red hot ceo of american tower. >>> then it's the race for retail supremacy, i'll tell you which brick and mortar stores may actually withstand the reach of amazon. at home is the first retailer to ipo, is it time to get cozy with the company? i'm taking a closer look. my suggestion? welcome back, stick with cramer. >>> don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, #madtweets. send jim an e-mail to "mad money" @cnbc.com. or give us a call. at 1-800-743-cnbc. miss something? someone's hacked all our technology. technology... say, have you seen all the amazing technology in geico's mobile app? mobile app? look. electronic id cards, emergency roadside service, i can even submit a claim. wow... yep, gei

onyou were on a k i function the bristol-myers grid, i will go ahead and do it now.iff notes look at any stock. you will see when you scroll reallyumber 28 is important to this company and they had been showing rising sales. 7.7% gain in june. analysts estimated 432% of year 18.n fiscal the stock absolutely crushed. analystssting k i say expect 28% compounded annual growth rate for their eps over the next three years even though you look over the past five years, it's been -1%. optimistic analysts. jobs reportthe today and it was really good all around. no one could find any weak aspect of it. usually there's something people .2 but in th case, solid. point to but in this case, solid. the fastest growth since april. we also saw the 2.6 percent year-over-year increase. all kinds of good numbers. it all just keeps sort of trending up. as the labor market gets tighter, wages are rising. straight month, economist are completely off when it comes to their estimates for where the job number is. if theye no idea so don't have any idea, does the fed have a better idea? matt:

bristol myers shares plunging on a drug study. seeing its worst day since 2002. guy? >> i think bristol lost over $20 billion in market cap today. we're levels we haven't seen in quite some time. technicians will talk about a massive double top going back from 1999. but a $20 billion loss on this news to me is excessive. the stock traded i want to say 11, 12 times normal volume today and there's a chance this drug reappears in new york or something. i think it was today specifically an overreaction on a summer friday, i think there's huge opportunity. zpl all the analysts are making a point of saying when merck did its trial and they had the positive results in june, that it was a different sample. so, this is a much tougher sample. maybe that's why it failed. >> instead at 5%, you could have been at 15. we were saying that's a roughly 65% approval. bottom line, this is about greed. think about it. they went for much to much of the population. absolutely too much. and i look at this and say, highly, highly crowded long. with every institution. look, i don't say necessa

the reason is because of bristol-myers squib. they said their lung cancer drug failed in late stage trials. merck has another cancer drug that is actually competitor for that. up by 5%, raising its full-year sales forecast there. and priceline up by 5%. second-quarter profit beat estimates because the number of hotel rooms booked across all its websites has been growing. interestingly, we were talking about the terror attacks in europe, that has had a muted effect on priceline. vonnie: fascinating. let's check in now on the first word news this morning. courtney collins has more. courtney: donald trump is dropping his claim that he saw video of the u.s. cash payment going to iran. the republican presidential nominee posted a tweet today saying "the plane i saw on television was the hostage plane in geneva switzerland. not the plane carrying $400 million in cash going to iran." trump said he saw video of the money being delivered. news conference at the pentagon yesterday, president obama dismissed the notion that the $400 million

the one i bet on is bristol-myers, a big one, but then a lot of small ones. does that continue to stay in the focus for m & a? people talking about that as an area we'll see consolidation? >> absolutely. probably hottest cancer drug development. interesting about this deal, innovation has an immunodrug in the pipeline. not clear how it works. people are looking for new targets to pair with their own assets in the pipeline. pfizer has done it effectively. bristol-myers people talk about do big or partnering. >> yeah. >> unusual activity in terms of these names? >> almost something, especially after something like this happens. jumping on what's the next one? if anybody decides to go big, and i'm not talking about options now. if somebody guides to go big in the space, biogen is one of those names kicked around once in a while, potential. somebody's looking at them. allergan, got themselves in a position to do something if they want. can we see that in the forefront? and merck,s $14 billion. ation bigger chunk decide a biogen, something like that. >> two names

we are looking at bristol-myers.heir cancer drugs. joining us now is our correspondent who covers health care. explain to us why it is so important to bristol-myers. bristol-myers squibb's main cancer drug. there were hopes over opdiv o, where the come he was supposed to report its study. it showed up negative, and we have some criticism as to why it showed up negative. there were certain cut off that they should have used. this was very unexpected. they thought they had was thise in the ba. david: they have substantial revenues, not hundred million dollars in revenue. this was a question whether it could be used for more people in other applications, correct? >> it is now used to treat four or five different types of cancer. one was going to be used cancer,tline lung the first drug you take when you are diagnosed with lung cancer. lung cancer is among the top three types of cancers in the world. david: it was projected to go, to $7 billion. does this mean that is not going to happen? >> $7 billion seemed to be a bit

bristol-myers and start buying reynolds metals and phelps dodge. ly -- i had this clause, which is if my fund dropped by more than 10% i'd have to open the doors and let people out of their contract with me. i notice each day my accounts sunk and sunk and sunk because it was filled with debris and not what was fashionable. when i got to 9% i booted my faves. it was a sobering lesson i never forget. you have to take action. you can't just sit there and get your head in because you own best of breed companies. here's why, as that year progressed, the economy got hotter and hotter and hotter, and these stocks kept getting higher and higher. at a certain month, though, things got too hot. people started worrying about interest rates going higher, don't we know all about that, and the next thing you know, the stock market crashed. all the cyclical players were snapped. let's come back to the show i have now told you to use an index fund no matter what, and buy individual stocks with "mad money," using the right way, not the wrong way. and here i have de

our shows on stocks like apple, pep pepsico and bristol-myers, we have tried to give you themes that allow you to invest in more fertile sectors versus others, themes that i hope i can make come alive with analogy, sports, movies, whatever, so you can do the homework on them, things like post the great recession or living longer through healthy eating habits. i've written many books over time. i know the "confessions of the street addict" is a favorite. but this is the show's new companion. if you're having trouble, "get rich" will do it. i'm cognizant that the market is hard. you've got time burdens, you've got demands. i am not just okay with index funds. i insist that you use them. i would not own a single stock until i put at least $10,000 away in an index fund through your ira or 401(k). i have not warned you of individual stock. i would prefer you invest in index funds versus mutual funds. now there are always individual cases where individual managers do acquit themselves, but managers move and records can change and past performance is no guarantee, all that. which brings me

this has to be with bristol-myers squibb, down 17%. it turns out its lung cancer drug failed in late-stage trials. they were hoping for it to be a first-line cancer drug. this actually accounts for about 17% of bristol-myers squibb's revenue. on the flip side of that, look at this, merck is up. it had a pop of 11%. the reason it's popping is because its drug competes in second-line treatment. we're seeing a little bit of give and take there. let's get on to earnings. priceline.com reported their second-quarter profit, up by more than 5% here. it turns out the number of hotel room booked across its website is growing. it says that the gross travel bookings that it saw jumped 19%, to nearly $18 billion. the expectation year-on-year was $15 billion or so. also, let's move on over to rack space hosting. this is a cloud computing service. look at this, up nearly 11% here, rallying the most in two years as of yesterday, still continuing that trend. "the wall street journal" is reporting that it's nearing a deal that it could be taken over by

attorney investigation was in july of 2002, a situation for bristol-myers.from 50, when they realize told you there was channel stuff not unlike valeant saying in the hundreds to 21 bristol-myers. that's where you found out about the federal investigation. the stock went to 30. in other words, when you find out about the federal investigation, it tends to be at the end, not at the beginning. if you want to sell val nts, sell valeant off the balance sheet and the possibility that the expectations are too high set by jo papa. i would not sell it off of this investigation which i'm surprised hasn't happened already. it was somewhat unbelievable that you could have all that, all the stuff that citron pointed out and to have no investigation before, the man who ultimately what happened to bristol-myers they went after the cfo and indicted him, no conviction and the company itself never ended up -- shareholders never got hurt because chris christie decided that bristol-myers should be spared. >> he was the -- >> he happened to be the u.s. attorney. >> criminal inv

bristol-myers, now down. >> yeah. because it's problematic. >> merck's down.s down. >> problematic. >> people want the oil. >> glass yo is down. >> people want the oils. everyone got short. people are as negative about oil at 40 as positive at 50 and chevron is where it was when it reported. a lot of people thought it was a miserable company. the old st. mary's makes an acquisition today. worth notie ining that you're starting to get positives about eog, a great number, pioneer. for $980 million they bought 24,000 acres in the permian from rock oil. the permian, where you can buy oil for like 10, 15, $20 a barrel. >> right. >> very important to keep track of that. very interesting. >> it is. it's been such an interesting year for a lot of the mlps. i'm just looking at williams which is now up on the year. >> how is that possible? >> up 22%. kmi is up 39% this year. >> they cut the dividend. >> last year was horrible. >> the move surprise is energy transfer partners, you could have bought that stock at 18 and now it's at 42. big gains. i just find it extraordin

bristol-myers stock tumbled as merck rallied.h companies are banking on new cancer treatments in the pioneering area of immuno-therapy. >> this is very interesting. opini optivo is being youzed and trying to see if it's useful for a type of lung cancer and they found it's not. how much of a setback is that? is this just a bump that we should expect on the road to -- in this area or is this a big setback here, do you think? >> yeah. this is a good question. thinking about the outlook for optivo, we think it takes a lie yn's share of the market but what's important in cancer treatments is first to market and with this data it is very likely that bristol will lag behind merck in being first to file within the front line lung cancer market. i think longer term a lot of combination data works really well for bristol and longer term i think bristol does well and definitely setback over one to two years for bristol. >> what is going on in terms of lung cancer that the drugs trying to treat? what can you tell us about how prevalent it is

last year we had bristol-myers missing by mile as well. what surprised me, of the biggest losers by index points, all health-care stocks. if you look at the big losers on the s&p 500 that are dragging , those are all in the bottom five position helping drag the index down. joe: let's look at some notable moves, starting in the u.k., a grant you record low on five-year yields. they just keep grinding lower in the u.k. after that big move last week. u.s. 10 year yield, nothing new. lower yields on friday or higher yells on friday, but today ending up unchanged. in spain, a country without a government, they've had to elections in a row that have yet to form anything, investors don't mind if the 10 year yield falls below 1%. that probably looks juicy to investors today. that's pretty good. one of the best stories over the weekend, japanese buyers of u.s. treasuries typically thought it was a no-brainer but now they're seeing negative yields and the euro is a better place for them to go. scarlet: let's take a look at currencies. that start wit

we saw bristol-myers squibb being dealt a setback on a drug they had for lunch answer.xplain what that means for the company? how big of a setback is that with the face they place in immunotherapy? dr. cosgrove: immunotherapy has tremendous potential. we've seen it in things like melanoma, which has been very exciting therapy. .e're looking at a new era i think that will be productive over the years. failed,ause one drug is i don't think you're going to see this abandoned or everybody pull away from that particular. cosgrove joining us in new york. still ahead on "bloomberg markets," will valeant be able to sacrifice its way to success? this is bloomberg. ♪ david: this is "bloomberg markets," i'm david gura. vonnie: i'm vonnie quinn. a look at some of the biggest business stories in the news right now. mergerse overseeing two among four health insurers is giving up on one of them. that includes rulings on both by the end of the year. there's a chance that it fall apart before hand. u.s. district judge is giving the case against aetna's deal for humana. making the challe

the poor performers, bristol-myers down 23%, freeport down 20% as well, then newmont mining, diamond offshore drilling, commodities as big losers in there. equities down for the month. joe: that's the same for treasuries. year taking 10 higher, small, but u.s. government treasuries down for the month in the worst month since june 2015. dollar-yen, ato stronger dollar against the yen. you can see dollar up .5% against the yen. is headed for its first monthly advance against the yen since may. this is about monetary policy divergence or the speculation of it. .terling higher, up .4% the pound heading for a fourth monthly drop against the dollar amid speculation that boe will try to soften brexit with easing. if we look at the brazilian currency, that is rising against the dollar. dollar .3% against the ilma rouseff was impeached. oil down over 3%, so below $45 a barrel. matt: let's take a deep dive into the bloomberg. you're going to kick it off with a cool function. >> the function of looking at e cmx go, bloomberg's global economic matrix. you can assess and compare the economic heal

should ask, okay, what priced earnings do you pay for $4.80 in a vacuum for a company that's hardly bristol-myers. if they can deliver, it would be pretty good growth, about 20% i struggle to figure out what the normalized earnings power is. that makes it hard to assign the stock a valuation. what do we do? let's look at the biggest supplement company out there. gnc. it sells for seven times earnings. if you value it like that, the stock deserves to be cut in half. so why don't we do this. let's say herbal life deserves double the price of gnc because of its much faster growth rate. you get a $67 stock. voila. that's where the stock went out. so it's not surprising after speaking up to $69 last night herbal life pulled back to close up just 50 cents. yeah, $67 and change. you're dealing with a stock that seems fairly valuable. the only reason to own it is you expect the short squeeze. but the only way to get a short you know what? i think both scenarios are quite unlikely. my view? i can't endorse this one until herbal life can demonstrate sustained earnings power, with the changes to its busines

you are watching the other side of this story. >> bristol-myers.ing lung cancer trial data. people hoped for a bounce. you buy the bounce. didn't happen. brist bristol-mier down another 4% today and the long-term chart is a money maker for investors and a very difficult couple of days for bmw. >> lost $20 million in capital. buyers will want to see what happens with the therapy. >> bad timing. building a giant new headquarters building and almost done. spectacular and probably not the time for a brand new building. >> definitely stocks to watch. thank you for watching us here. >> "closing bell" starts right now. >>> welcome to "the closing bell." i'm kayla tausche at the new york stock exchange. afternoon to you. >> good afternoon to you, as well. welcome abore. i'm bill griffeth. walmart looks to give the e-commerce business a jolt. we have new comments of walmart ceo in a moment here. >> and tesla under pressure as the automaker discloses it will need more than a billion dollars in cash for the third quarter. we'll look at how the company is spen

merck was the leader on the s&p because bristol myers had a drug that failed and merck is competitor to the drug. bristol meyers the worst, merck the best. back to you. david: what a day. lori, thank you very much. phil, gold taking a huge dive today. biggest daily loss in 10 weeks. i guess that is because of jobs number? >> it is, it fell like a yellow brick. the reason we were buying gold that the mantra the global economy is falling apart. the wheels are coming off. at least for today those fears went away. when we obviously talk about gold we have to talk about the dollar after the report today that the feds will put rates back up. let's look at about the oil today. oil way down on the strong dollar. it made a comeback. it almost got higher on the day, closed slightly lower on reports that opec might bring back production freeze. "wall street journal" reported they are. some guys in opec are denying it. this is how opec usually brings issues to the table. they leak stories, get a conversation started and it may turn into something. so keep an eye on that. david: god, i thought we

in 16 years and our pharma guru following the money today on the big stock moves in merck and bristol myersu in 15. >> let's get over to the cme group. >> well, of course it has to be about the jobs number and we already had a couple of guests that went in depth on some of the issues. now i had ed on today. the former chairman of the council of economic advisors under george w. bush and he brought up something that's been brought up a lot. now we had a lot of volatility of late, especially if you look at the number of 11,000 original. it's up to 24,000 now and then we popped up in june to 292,000. lots of volatility. so when asked about the number, he brought up that he has issue with the seasonal adjustments and a previous guest of ours has been talking at great length and past exchanges about that very seasonal issue. he sent me something i want to throw on the screen the economy lost more than $1 million in july. it's converted to an increase of 255,000 by seasonal adjustment they added $2.4 million over the last year. this is a very weak job report. now everybody is entitled to their op

one stock not participating in today's rally bristol-myers squibb. company's experimental lung cancer drug failed in a clinical trial. shares slid about 16% today. that's it from cnbc, first in business worldwide. it's the little things in life that make me smile. spending the day with my niece. i don't use super poligrip for hold, because my dentures fit well. before those little pieces would get in between my dentures and my gum and it was uncomfortable. even well fitting dentures let in food particles. just a few dabs of super poligrip free is clinically proven to seal out more food particles so you're more comfortable and confident while you eat. so it's not about keeping my dentures in, it's about keeping the food particles out. try super poligrip free. >>> having spent time around this good man since this add n adventure began for my family, there's one thing i know for sure, when donald trump becomes president of the united states of america, the change will be huge! >> huge. no one can say mike pence hasn't been a loyal running mate. there he

bristol-myers, a negative study on lung cancer drug plagued that stock, down 24% on the month. as for the dow jones industrial average you're looking at merck, goldman sachs two, winners there, goldman benefitting on unexpected right in rates, and verizon and pfizer down 6% on the dow in the last month. back to you. melissa: lori, thank you so much. phil oil taking a dive ending down nearly 4%. what happened? >> we had a big build in crude oil inventory the market is looking for a drawdown, i don't think it justifies the size of the drop we had. despite the big sell-off, of course, for the month, oil prices broke a two month losing streak, that was a positive. i think a lot of it was the end of the month. the last day of august. commodities records had a long position, the market took a hit. the other thing, of course, is that we're watching the tropical storm that is now hermine in the gulf of mexico, and it looks like the storm is going to miss some of the critical crude oil-producing areas, and actually got a report from the beee that follows that right now, and they said th

bristol's wickmayer's. squibb.ol-myers it plunge the most in 14 years.ng cancer treatment, but not as a first-line therapy, and that is really be huge opportunity when it comes to cancer drugs. rish? well, coming up later on the show, the warren buffett $5 billion profit, a discussion behind the berkshire hathaway klein, and in the company of the chief china economist and what it is like for future policy. ♪ ♪ right, you are back with "trending business," as we have a look at the business news. investigation into alleged fraud and bribery and corruption at some of the consultants, informing credit agencies of what it called misstatements and omissions regarding contractors in some export financing applications, with an internal inquiry. and finishing a review of last week's $70 million hat, slotted 36% of its deposits. opening again with limited functionality in the next day or two. and they halted trading and deposits. by 20%.is down and quarterly profits at takata tumblr, related to its faulty product. they have yet to compensate carmakers for the repa

. >> bristol myers squib shares plunged today, wiping out billions in market value as a high profile0 and the nasdaq closed at all time highs and for that, you can t

. >> looking back on this pharma section, look iing at bristol myers. the stock's going higher m going to break through the 52-week highs. >> jc penney up. i locked in some profits. i think longer term, the is in tact. the overall market doesn't. >> talked about biotech. biogen. i'm a buy r of the stock. higher. >> no. a pleasure to have you back on the desk. >> wonderful to be back. we had great help. great to have you back. if you're playing in emerging markets, a fine place to go to currencies aren't cheap and export. ewi korea is the call. >> i'm melissa lee. thanks again for watching. see >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now! >>> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i just want to help you make some money. call me at 1-800-743-cnbc or tweet me @jimcramer. how do you look at things? what's your time horizon? as we start august, whi

. >> bristol myers squib shares plunged today, wiping out billions in market value as a high profiledrag failed. >>> meet the electrician who started his own business and is now advising other entrepreneurs to become d more on nightly business report for friday, august 5th. >> good evening, everyone. the s&p 500 and the nasdaq closed at all time highs and for that, you can t

oil on the upside, bristol-myers squibb falling again today after plunging friday on a negative results of a study on a drug to treat lung cancer. that has a lot of analyst commentary. pfizer and allergan, even though their profit beat estimates, sales missed estimates. oliver: we have the olympics in full swing after this weekend. what is happening in brazilian markets? julie: they have been doing well this year. i was talking to michael regan about etf's. here is the brazilian benchmark. the five-day action trading at its highest since last may. all year we have seen a gain in brazilian stocks on the political turmoil we have seen their. now there is an acting temer, butmichel there are questions now has to participation in some of the things that got doma rosato out of office. if you look at some of the stocks go to most, petrobras. the oil producer is rising more than 3.5% along with oil. other commodities coming out of brazil are also active, although this time to the downside. orange juice and coffee are that is notday, but putting much of a dent in the stock rally. scarlet: thank

if you check out shares of bristol-myers, they are down 17%.h that. and again, merck is part of the issue that is helping the dow futures this morning because it's a dow component. >> can we look at the 2-year before we go on? these numbers are not -- these yields are not supposed to jump around so much. >> what was your -- i'm sorry -- your household number? >> i think it was 400,000. >> plus? >> can i just reinforce his point? >> go ahead. >> this is about the best news we could expect. it suggests the economy is not stalling. it's coming back. a stronger expansion is possible. it doesn't mean it's a shoe in. >> but jeff, i got a big problem with that idea. i got businesses cutting back on capitol spending. the number of quarters now, they've been cutting back on inventories. except for the hiring side, there's no sign of confidence on the side of business. >> but the hiring number will start to generate some confidence. that's the very point. it's the first number of the month. so that could begin to change. that's what we need. we need stro

yesterday, you chose bristol myers, which looked to be up, turned around and had another bad day. >>ke down. >> after that major, major news from friday. what would it be today? >> you know i'm going to have to -- i know -- i wouldn't say twilio, but it's too thing thly loaded. watch pioneer pxd, because there's another equity offering from the old st. mary's sm, about going to the personmien i oklahoma. these $2, $3, $4, so watch pioneer. this is in a bull market mode, watch eog, oil's in a bull market. watch eog, pioneer, pxt. >> i want to come back to that after this opening bell. especially those equity offerings we were talking about. there it is, for this tuesday august nint9th, raising awarene for blood donations. over at the nasdaq, meridian communications, that's a mobile satellite communications company. >> i remember them. >> they came on -- iridum. >> they've been around all this time. >> remember global star? >> it's back. >> global star. >> all of those satellites still just looking for a home. >> you know, serious satellite is very strong. >> you don't know what the he

quickly bristol-myers squibb down 5%. cancer drug fails. let's get you back to "coast to coast."e of high-tech thieves in texas. they have been out there stealing cars and doing so with their laptops, using laptop computers to steal cars. adam shapiro is with us now from the newsroom. give us the details on this, adam. reporter: i want to show you video. because they caught the thieves red-handed. here is what is going on. they were able to use laptop to break into certain jeep vehicles as well as dodge pickup trucks, starthe vehicles using the laptop and then taking advantage of the software within the car, then drive it away, they were taking them to mexico. so we got a statement from fiat chrysler. what they told us, this is a quote, fiat chrysler takes the safety and security of its customers seriously, quote and incorporates security features in its vehicles that help to reduce the risk of unauthorized and unlawful access to vehicle systems and wireless communications. houston police after getting several complaint about this and tip from homeland security, department of hom

. >> -- bristol-myers -- >> the huge allergan deal which -- >> would have been good. >> and thereforeave access to overseas cash and a lot of other reasons they wanted to do that. >> company's been strong. they have some new drugs. is it on fire like -- which kwi guided up big? sno no. but if they split the company up into two different businesses, i want them. -- a fabulous buy. anyone who bought that. idxx labs. >> the unification of pets when you said that last week. >> i had kimiko on yesterday and -- a pet store. and what can you not do in amazon? you know, if you like fido then you may not like --. >> -- [inaudible]. >> you do take your dog for a lot of walks? >> no i take him for a fortune for healthcare. >> do you -- >> what do you think i'm an idiot? >> so you're not doing that? picking up the poop. >> no. >> it's the law o here in new york city. >> -- my wife --. is actually talk --. five years, starts to sink into the consciousness. >> things are going well. i wouldn't rock the boat if i were you. >>> quick before we get to warren buffett. japan stimulus of course -- >> dis

. >>> shares of bristol-myers down today.t suisse downgraded it and cut the price target to $63 a share from $86. it is not at $60. firm said that the lung cancer treatment is too significant for us to maintain our bullish stance end quote. >>> mean tile, td ameritrade clients in july were net sellers for the month despite a big rally month for stocks. clients sole costco, alibaba and ge and bought fook and some financials. >> for more on this movement and what it says about the broader market conditions, we welcome back j.j. kennahan. your customers tend to be contrarian. they buy when the market is low and sell when the market is high. do you think that's going on right now? >> i think it is, bill. we know that's a way you like to see people trade a little bit more. they were net sellers of equities and engagement with the market came down a bit. besides the fact net sellers. volatility came off significantly, even compared to overall market. the stocks of apple and bank america which our clients hold quite a bit of and i t

bristol-myers, dollar general, free port, and others.ow down about 55 points on this last trading day of the month. more "squawk on the street" straight ahead. se wils. wat yoare a ce competir. i' heardt. i havenalyd ur ggesmatcs. rlly? when dn a pot, you servan a 5 tim moren other. u d lich. i not. watsonth'sn custize pretty impresser data. you ght y i thserena wlis lolo-bascognitive system h, w'. watsonth'sn custize pretty impresser data. withvel of engineerin itwith thigreehi. telligen... with this grade of proct.. it's a fortres d thda luit's an oasi intrucing the mpletely redesis 'sryinu need ie... d mo. asthe e300 $549 a nth at your local merces-benz dealer. mercedesz. >>> according to one top technical analysts five signs point to gains for the stoek. he will break them down at tradingnation.cnbc.com. more "squawk on the street." this car itreliner 200 miles per hour. to w, every llisecd 200 tter s per hour. both on the trk anthousas of mil ay.200 tter s per hour. wi of car fr virtually raanywre. crical inrmion out every brakes ar

bristol-myers has, but opdivo did not do well in the small cell lung cancer.his morning an unmet interim efficacy note out of lily for a breast cancer drug. this is called the monarch study. and this was along with their alzheimer's attempted franchise, had been with lily from the 73, 74 level. a major stumble for lily, not as big as opdivo, but i mention it because big pharma has become unreliable when it comes to big tests and this is again, behind why you have a medivation always talked about. they don't have enough franchises. big pharma, eli lilly, one thing left that matters alzheimer's and you know how hard that is to solve. >> interesting point on medivation, which i may update people on in the not too distance future. as i reported a lot of interest there. whether it's sanofi or pfizer or celgene. gilead and or merck. >> and merck. look at gilead. one of the greatest single discoveries of all time but it's a cure. and you know cures, unfortunately, are not as good as continuals. >> yeah. >> but anyway, i bring lily to mind because once again, what i f

stuart: bristol-myers' lung cancer drug failed in late stage study, that stock's really big, 16%, howeveray benefit merck's rival drug, and merck's stock is up 6%. that's the drug business for you. >>> hundt getting major donations from some of the country's well known billionaires. how much and from whom? >> $42.5 million. okay, meg whitman for one, which we know she was a prominent republican leader. she's worth $2.2 billion, by the way, according to "forbes." stuart: and she's giving a ton of money to hillary. >> she is, indeed. george soros to, warren buffett, tom story, j.b -- [inaudible] who's the heir of the hyatt hotel chain. we've got slimfast founder, daniel abram, these are all very rich people donating an awful lot of money to hillary clinton. stuart: yeah. because hillary clinton does not tax wealth, she would tax income, and there's a huge difference. >> right. huge difference. stuart: speaking of which, there is a huge difference in the polls. it's not going donald trump's way. some very bad news for him. "wall street journal" national poll, clinton 47, trump 38. and look a

myers road through stiets road through september. lime kiln pike will close during the day all week. bristol road is closing through wednesday 9:00 a.m. to 6:00 a.m., use street road to get around that. waze app, highway one northbound near saint guilt or georges, geg report of a crash. >>> a shooting at a crowd colorado house party left 13 people wounded in the city of bridgeport, connecticut. two gunman who were hiding in the bushes, fired shots yesterday morning. all of the victims were taken to the hospital. one critically injured. the rest of expected to survive. the gunmen got away, police are unsure if they were party goers. >>> people did a smash and grab at a shooting range in beaufort. they got away with several guns and rifles. >> the u.n. is condemning the latest suicide attack in turkey that was carried out by a child possibly as young as 12. 51 people died in the explosion. it happened saturday during a kurdish wedding. turkey's president claims isis is behind the attack. >>> a man in india is recovering after an uncontrollable urge caused him to eat pocket knives. doctors and