what is market cap at celgene?about 82 billion. >> that's like a pharmaceutical company, right >> i think the prospects for the company are bright even though i'm not involved in the company -- >> we called you a politician. you sat there and took it. >> i hope you will talk to me about being a senator, a public servant. >> yes you're going after menendez's seat, right? >> absolutely. >> would that be a -- i should recuse myself. that might do a favor to the entire state >> it's serious on a couple fronts i grew up in union city. i was the first in my family to go to college. we grew up in the same town. we grew up in the same town. it's a tale of two bob's it's more serious than the embarrassment of what he's done. how can other representatives of new jersey be taken seriously when this guy has done the things he's done that bring such disrepute to new jersey. and the business community, how do you not think, if you're not from new jersey that every politician is not corrupt in new jersey it embarrasses and disgra

we're backed by our previous parent company celgene, by a number of incredible venture capitalists to do this work. but this concept of using the incredible tools that bob and his 120 scientists have developed over the last 20 years to help address cancer and degenerative diseases and ultimately aging is helping everybody. as you make people healthier, they can work longer and it increases the gdp of a nation. it makes people feel better. it reduces the waste in the whole system. it's a great economic investment for private industry as well. >> and from my vantage point, the way that government can help advance these technologies is to provide regulatory relief, allow, for example, the fda to be more progressive in their mindset. in fact the new head of the fda, dr. scott gottlieb, has already made monumental impact on the way regenerative medicine is being approached. >> until ten years ago i thought i wanted to live for as long as they could possibly make me live. and then the effects and proximity of dementia and alzheimer's started to set in on me. let's say you guys succeed at wh

you have to buy the stock if you like the pizza. >> i don't think there is stauffer's stocks. >>> celgeneding at the lowest level >> stocks trading at ten times earnings we like the pipeline it is getting no credit for the future they did say 2020 earnings are going to be there. >> look up who owns stauffer's and nestle >> billionaire investor is ken langone has strong words about ge and the former ceo this morning. let's listen we don't have it all right. trust me, it was harsh >> he can be very -- >> it is horrible. >> i heard some of his comments and very smart man but i will say a few things about ge that are a positive longer tomorrow it won't turn around tomorrow. number one, people talk about the restatement of earnings last friday and i think it was a positive because the main goal is being transparent in what they are doing going forward and mr. flannery came out and he said i feel sorry for people shorting the stock because i'm -- i'm paraphrasing but we're reorganizing and coming at you. and they talked about the engines. it is the main source of revenue is their air aviation.

neil: bob hugin, former ceo of celgene.p pocketed guys, phil murphy was dismissed out the gate and i think he is governor. of course he is a democrat. we'll have more after this. but i'm not standing still... and with godaddy, i've made my ideas real. ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. >> i think a timely conclusion of the investigation with all significant prosecutorial decisions having been made can be accomplished before the election cycle begins in november. neil: really? before november? >> i still do i think that is possible. depend

celgene said a generic will be coming out in 22. may not live that long. have ten years left. the company offersenprogram, bu retired educator, pam holt makes mu althoh not enough to avoid going$,000 n her credit card now. >> i love that pam holt is taking up the cause. i hop doctors are wrong and it's longer than ten years. >>he her into an activist. >>> rooster, peacocks are some of the creatures passengers have tried to bring on planes.d airlines i tightening the rules on the so-called emotional animals. peacocks are so cuddly. we invite you to subscribe to our cbs podcast. find a ap ipodcasts. you're watching "cbs this morning." morning." we'll be rightk. you for four years. you named it brad. you loved brad. and then you totaled him. you two had been through everything together. two boyfriends, three jobs... thand you break intocalls... your happy dance. if you sign up for betta model year newer™,a r ths with 15,000 fewer miles than your old one. liberty mutual insurance. andreamy, you won't believe it's sugar free. if you're spreading. robitussin cf

celgene says a generic equivalent will be coming out. pam holt may not live that long.y does offer a reduced payment program but as a retired educator, pam holt makes too much to qualify, although not enough to avoid going more than $7,000 into debt because of the drug that's on her credit card now. >> i love that pam holt is taking up the cause. i hope in this case doctors are wrong and that it's longer than ten years. >> she says they've turned her into an activist. >> you can see that. >>> roosters, monkeys and now peacocks are just some of the creatures passengers are tried to bring on planes. ahead, how united airlines is tightening the rules on those so-called emotional support animals. peacocks are so cuddly. we invite you to subscribe to our cbs product cast. you'll get the news of the day, podcast originals, find them all on itunes and apple's app. ing." we'll be right back. you owned your car for four years. you named it brad. you loved brad. and then you totaled him. you two had been through everything together. two boyfriends, three jobs... you're like nothi

c c c celgene down g.e.again the worst performer on the dow continuing its decline, down another 2% at $14.20. >> thank you very much as we close out february stocks are modestly higher in what's been a volatile session. can we expect more volatility to come as we start march let's bring in bob pisani and ron insana ron, february was quite a month. we hit records, things we haven't seen in some time. started volatile and we are ending that way. what do you see that gives us clues for what's to come in march. >> i'm not sure this is a long-term problem. we started with concerns about higher interest rates, concerns about inflation picking up the s&p moved from 2500 to 2900 in four months for the crazy february at the bottom we saw a 10% correction we were back to october. since that bottom, the stocks that have done well are cyclical the basic growth story, global growth story, earnings at record highs remain intact. investors are acting like that story will continue. >> what do you think, ron? was that just

a company came to market, celgene, we were involved in the bond deal. bond selling same spread and tighter as they were in october. this isn't financial crisis. there is not a credit crisis. there is a lot of calm going on. this is bizarre traders market. trish: this is what i've been saying all along, trying to remind viewers, don't get too worried about this. i've seen crazy markets in my career. >> oh, yeah. trish: 2008 was craziest thing i had ever seen, i felt that one coming. you go back to 2004, i felt that one coming. i can remember, i can remember looking at a house in san francisco with my husband and they had these brochures on the kitchen table. >> oh, boy. >> just get one-year arm look, what your payment will be. i looked at him, fine for you and me. we're sophisticated investors. we understand mortgage rate is not necessarily going to stay there forever but think of all the americans getting into these products. it really hit me. i was very concerned for a number of years before we eventually got to '08. there is nothing there -- >> thank

the noncore development work to focus on priorities in cancer it's up 0.4% the fda has rejected celgene'sfter plycation f application for a drug to help multiple sclerosis >>> becoooking holdings got a bs from a rise in reservations and strong performance from its international business the ceo of booking holdings will be on "squawk box" at 7:40. >>> the ceo of the highly secretive startup palantea is sitting down for an interview with cnbc. he's talking everything from corporate clients to the ipo plans. here is some of his interview with josh lipton >> maybe i'm just going back to my old philosophical days. what made this company special is not that we're secretive, not that we're enterprise software, but we've been focused on fighting terrorism with data protection we're recently focused on as well on innovation with jobs why should we care well, because if you don't have jobs, you won't have democracy i think -- obviously we were born in silicon valley, we're of silicon valley but this movement of innovation with no jobs is hurting our society. >> you can catch josh's full interview w

breaking news on celgene shares down6% after hours.he fda is unable to review its ms drug because of insufficient paperwork shares are falling here. more than 7% now on that news. cally, i guess they have got to get things in order and resubmit. >> the market is taking that like a big hit celgene down 7.5%. the application rejected for that treatment >> the market has a raw nerve about higher rates i don't think this is a change in the story, it's a of rory rebound, but i think we are skittish. >> 2.91% we hit on the ten-year. that was enough. even though we came back down on the rates the markets went down as well. time for "fast money." that does it for us here at "closing bell. that show begins now >> "fast money" starts right now, live from the nasdaq market site overlooking new york city's times square i'm melissaly pete najarian, tim seymour, and grasso >>> a crypto star is born a. 21-year-oldst started his own hedge fund and he says a way to make money in bitcoin where the cryptocurrency goes up, down, or nowhere at all he will

gilead and gel gene have been the most aggressive management teams talking about m and a this year and celgene just did two big deals. gale yad was asked about the technologies he wanted to bring in jeeb editing companies, he highlighted four companies, all between 1.4 and $2 billion in market cap they named blue bird by yoes and spark therapeutics both in one time gene therapy treatments intercept. they are in liver diseases and biomarin a bigger company in liver disease. these are all names that gilead is potentially looking at. >> we will let you get back on the phone. let's trade it pete najarian. >> we knew what was going on this, hepatitis c was going down we know hiv is strong. international growth is something they can lean on cash is king right now they have got it $41 billion. the kite acquisition is just one. i think we are going to see more. >> i think they missed on the hgb. >>> still ahead, everybody owns them, everybody seems to love them do you know what's inside the etfs you own item item -- tim seymour is going to break down everything you need to know you are watching cnbc b

celgene just received antitrust clearance to buy youy juneau. both companies and investors happy that the antitrust hurdle was cleared. baker hughes and ge shares moving. ge confirmed today at a conference that it has no plan to divest its majority stake in baker hughes. it owns 52.5% of the chairs. clearly happy they won't divest the majority just yet. a lot going on in chipmakers. nxp.dcom, qualcomm and an for nmm raised its offer xp. broadcom said that offer was too high. in response, they lowered their bid for qualcomm. let's get some more perspective here. we are joined by jeremy siegel, university of pennsylvania wharton school professor. -- got one surprise increasingly comfortable that inflation will pick up, albeit gradually. jeremy: yes. one has to remember that meeting was three weeks ago. it was before the stock market selloff. they were seeing much stronger gdp growth than some of the later data. retail sales were very disappointing. the people i follow say that the first for gdp is now looking just a bit over 2% when they were look

last couple of weeks it's been extraordinary to the upside i'm not in this, i'm in gilead, i'm in celgenewas bristol a dud last year >> the market killed it. >> it had a couple of huge setbacks along the way, scott, where the stock got absolutely crushed on a couple of occasions that they couldn't recover from. >> the trade yesterday, and i took advantage of part of it, was nectar, which it put 2 billion into that stock was down news, which seemed ridiculous. i sold it, i just happened to be in the office. that's the kind of stuff you'll continue to see. that's why biotech is going to continue to move every drug company, amgen, you name it, has said, i'm buying, i want to make some acquisitions >> i think the name i'm in, stephanie link got me in, the growth att abvie is phenomenal >>> coming up, the controversy over chipotle. it's not theirs. it's mine. mine. mine. and it always will be, forever and forever. the new rx 350l with three rows for seven passengers. experience amazing at your lexus dealer. the markets change... at t. rowe price... our disciplined approach remains. global mark

bristol-myers, merck, celgene. those are stocks that have come 5, 10% off their peaks and i want to own them >> stephanie link and i were talking about that stock, i could not believe where it opened the other day, around 101, 102, was able to pick the stock up very well the stock is now pulling back, for the viewers. if you're going to get this stock around 105, 106, given the momentum that they have, to me, forget about what the market is doing, that's a great opportunity. >> is anybody doubting at all what vinnie viola and others have called the secular bull market is still intact >> not doubting that at all. i think you've got one leg left. this correction is the pause that refreshes and sets for the next leg up. at some point these higher interest rates and higher inflation rates are going to matter i think i'm being pretty clear that 3% on the ten-year isn't screaming. 3.5% from there, that will scare me a little bit. the economy is growing globally, profits are growing. sarat, you made that point crystal cle

it's a recessive genetic condition that occurs when a child inherits two sickle celgenes or traits from each -- cell genes or traits from each parent. the complications from this disease are extreme. according to the sickle cell disease association of america, with whom we have worked for many years, have studied and reported that common complications with this disease include -- early childhood death from infection, stroke in young children and adults, lung problems similar to pneumonia, chronic dang to organs, including the kid -- chronic damage to organs, including the kidney, and pulmonary hypertension and severe episodes. in fact, pain episodes are a hallmark of sickle cell disease. they are unpredictable in many ways. both the time and when they occur, how severe they will be and how long they will last. for those with the disease, these devastating pain episodes can start as early as 6 months of age and can span a lifetime, impacting school attendance and participation in the work force. in fact, these pain crisis contributes significantly to the 200,000 emergency room visits col

so celgene, not that long ago, tried to diversify away and bought a company, one of the reasons was fors ozamamine which had autoimmune, they really got shut down yesterday on this multiple sclerosis indication so people are starting to say, well, maybe this was a big overpay of $7.2 billion in july of 2015. it's sure looking like that. my neighbor thought this was a great drug, but some work. >> yeah. >> jim, a big night last night, as we're going to show people in a second and then a big night tonight on "mad money." >> well, this is marc benioff, this is some guy, you know, david blaine, chris rock, very funny, and mark of course opening to celebrate some of his new york office, but it is this quarter. i do believe it will be a good one because they have a lot of -- all the notes has very, very strong self-. and then kevin plank we had some discussions about the need to be able to focus and i think kevin's focus and those who have sells on his stock, please watch the show tonight. >> that's a big show. >> david blain, by the way, is one of the great guys. i mean, he's done -- by the

amgen, biogen, celgene and gilead amgen having a lot of impact from taxes announcing a new $10 billion buyback. a lot wondering if amgen will be a big buyer. i'm hearing this is a defensive play earlier in the week, you already saw health care stocks sell off on the amazon/berkshire hathaway/jpmorgan consortium news >> that's a great point. thanks for staying meg talking about some of those health care movers what does jump out to you about what's different in this decline -- there was a cycle when biotech would have led us up or down and it's not that way today. >> or one group beneficiary of the turmoil and today that's not that day today 90% of the decline was in declining stocks these lopsided washout days, net basis longer term, they're probably good news if you're looking for signs. and health care is one of those groups that often would have been, fine, we'll get a bid, we'll buy the big pharma because -- >> i was thinking of you with the energy did you see exxon -- >> clobbered. >> for a while it was the worst performer in the s&p 500. >> it was weird. year to date, energy up u

especially companies like se celgene, there is a value for those companies when you look at their multipleswth rate comparing on what they trade at today. john, lets talk about gdp. the fourth quarter is disappointing, what's the real picture of the economy >> i don't think we are focusing on any long determines the predicty growth rate is disappointing despite all the technologies that we have seen around us. demographics are difficult for growth and labor force the economy is growing lower at present time hopefully capital spending will change that overtime that sort of thing will change the demand side looks quite strong here is the issue. the economy is growing north of 3% the economy potential to grow is 1.5% to 2% >> lowhat does it mean though >> two things, the trade defici is going to grow considerably from where we are now. secondly, we are at the point where we are seeing inflation pressure that's really difficult for the equity market. what justifies the broad market is the high level of multiples which comes about of the low levels of bonds. if we put inflation in the mix of 201

he was chief executive at pharmaceutical company celgene corporation.mpaign said he lived american dream. he will tap into a lot of money. financially backed chris christie running for president. also helped to fund the trump campaign in new jersey. look, menendez, bob menendez had a corruption charge against him. his case finished a mistrial. prosecutors decided not to retry that case, but it has hurt him in the polls, menendez. he has come down, but, can a republican give him a run for his money in new jersey in this cycle? we shall see. certainly the one thing that he has going for him, he has money, but, does he have a name. stuart: in new jersey. ashley: i know. enough said. stuart: immigration debate is heating up, it is going on in the senate right now actually. a plan by group of gop senators. here is a plan. plan for citizenship for nearly two million "dreamers," 25 billion to build the wall, end visa lottery and end chain migration. senator thom tillis joins us now. he says this is the only plan that will become law. welcome, mr. senator. it s

our company when we were part of celgene pioneered the development products right from the postpartum placenta which are mass expanded and then they are delivered by infusion or at direct injection direct injection and they literally can reprogram the tissues or organs that they reside in. for example when we have our two children we stored the cells with life bank usa. what stored was their original boot disk. the genetic materials that can be used eventually to actually reengineer and regrow organs. how will this be used on a practical basis. right now we are developing products that are directed just like pharmaceuticals. there will be specialty products that will be used to treat autoimmune is disease. cell therapy over 25 years is safe and there is a perfect storm occurring. into the consumer knowledge of what these technologies can do. the fact that people go on the internet to look at diseases and how they are feeling and what symptoms they have. amazon wants to control it they want to be a heavyweight in the healthcare industry. they are offering medical supplies for hospitals

. >>> and celgene is lower this morning after an application for a new multiple sclerosis drug was rejectedfda. they had expected approval by the end of this year the company is now seeking guidance from the fda on what additional information is needed >>> hertz global expects losses >>> when we come back, media watcher jim stewart on industry reaction to comcast's $31 billion bid for sky. we are 30 minutes away from potentially market moving data the first revision from fourth quarter gdp. you are watching "squawk box" right here on cnbc i have access to the oil markets and gold markets. okay. i'm plugged into equities - trade confirmed - and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. gglobal bonds, and high-dividend strategies. sure, these are investments. but they're not what people really invest in. what people really invest in, is what they hope to get out of life. but helping them get there takes a pure focus. because when you invest their money without dis