four of those are in hematology, an area that celgene knows really well, as you know, celgene is a leader in multiple myeloma. and four of those have the potential to be really transformational >> why do you think bristol myers stock has not gone up in the sense that you and i would think it has maybe starboard tainted it, but you have earned power for multiple years before you had the new drugs take over. this is the lowest multiple drug company, bristol myers i don't get it >> so jim, i'm focused and we're focused on creating value for the long term, and we're getting to work on the integration we're very focused on the integration. we're going to bring the two companies together well. as we start working together, we have an opportunity to launch new medicines right away i believe the value of the new company will be demonstrated rapidly, and again, i think in this deal, there is a lot of value for shareholders >> how worried do we have to be about revel midin the deck you created, you do have it down near coming up out there >> we have been conservative, of course, because we know tha

great to see you you've got numbers on celgene. >> great to see you, wilf.maker celgene just reporting a beat for the quarter. 2.55 adjusted earnings per share versus analysts adjusted estimates of 2.43. revenue 4.03 billion versus analysts estimates of $4.01 billion. this is kind of interesting because of course celgene is being acquired by bristol-myers. that $74 billion deal is expected to close in the third quarter. normally we see celgene report in the morning bit of an aberration fritz normal pattern reporting in the afternoon here a beat celgene is flat they are not having a conference call because they are being acquired, guys back over to you >> we missed you, meg. welcome back still ahead, we will drill down on intel's big drop after hours, taking many chip names ler th it. top analyst weighs in next let's build a better world for investing. let's create jobs, build bridges, insure prosperity. as investment management professionals, let's measure up. cfa institute. a business owner always goes beyond what people expect. that's why we built the nati

. >>> and the bristol-myers and celgene merger was approved.he $74 acquisition of celgene received a go despite activist investors' campaign to undo the deal. it creates a pharmaceutical giant with almost $38 billion in yearly sales. both currently trading down at the moment. >>> plus, china fighting back on restrictions imposed on its 5g technology. is it really a security risk for the united states? liz talks to former commerce secretary carlos gutierrez. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. ♪ can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well plan

pharma names like celgene, biogen, all in the red along with other major biotech names. the difference between biotech and basic pharmaceuticals is that biotech, they are in the business of creating brand new drugs and taking real moonshots here. well, the president has proclaimed his administration has secured $6 billion in new funding to combat this overwhelming opioid crisis. the highest death rates due to opioid overdose is in the u.s., put it on your screen, do you live in west virginia? how about ohio? d.c.? new hampshire, maryland. those are the worst ones getting hit right now, but blake, we also know that florida has been hammered, new hampshire. this is a nationwide crisis here. we can meld it with our business audience because we've got to figure out the ones that are really at the forefront of development for this. reporter: it is an issue indeed all across the country. you talk about west virginia and ohio. the trump administration today touting those two states along with pennsylvania as states that have seen a drastic turn in opioid-related deaths. the adm

celgene jumped on the merger news, that bristol-myers story, c c 90% of the s&p 500 up in the first quarter's rarity. for the second quarter, all about the economic data. global markets rallied because the china manufacturing data was much better than expected and it played perfectly with the bull narrative that china's economic weakness will bottom soon. now, and we had better than expected ism manufacturing numbers and construction spending numbers, 10:00 a.m. eastern time today, the market took another lift to the upside, particularly buy yields moved up, banks moved up as well the calendar is a big help for the bulls. april is the best month for the dow industrials. it's been up 13 straight years in april and the third best month for the s&p 500 after december and november the calendar smiles on us. melissa, back to you >> bob, thank you. bob pisani at the nnyew york stc exchan exchange who believes in the calendar still? >> i do. maybe my emerging market background, but the best time for equities is early march and april and may and sell away. some is the seasonal side of investing yea

have other drugs and there are plenty of other big pharma outfits look how bristol-myers acquired celgene. you have the potential for huge europe sid over the next nine months while that's a risky bet, the nature of this contest encourages participants to swing for the fences how about visa, the last one you know, this one is harder the credit card company reported today and it didn't deliver an outstanding number didn't that's unusual the fact is the stock barely got dinged in a less than stellar quarter. so imagine how much money it will make on a good one. my second favorite, i know it's oz, but it's pronounced oz, oz the mentalist. he went with disney, bitcoin and goldman sachs. amazingly, i show mid fellow on-air personalities, dock, ty, mel and guy, a stock i wrote it down, disney. and then i said oz, i was going ask oz what stock i was thinking about when i wrote it down he told me i was thinking about a stock he was going to pick, disney that's a good trick. i have no idea how he did it why do i like these three picks? you know, get this after spending ages treading water, the sto

the acquisition of celgene will take time to digest. >> thanks. >>> tie it together. buy it. >> unity, unit, bought tncht frc, a lot of millionaires in silicone valley. >> cleveland cliffs. >> that does it for us "the exchange" begins right now. >>> thank you, scott hi, everybody. what's ahead, numbers behind the battle a look at the industries caught in the cross hairs as the president threatens to shut the mexican border and potential fallout in the u.s. economy it that happens. >>> plus, the biggest retirement overhaul since 2006. a new bill that's making progress on the hill would change the way you invest in and access your 401(k) we'll go through the details. >>> and whole foods cutting prices again the doj getting involved with the oscars and is college still worth

i bought some celgene and i wanted to close.r shareholders on the side now they have to and it is the only way they're going to out perform black rock >> do you have a take on the ipo market, lift on friday and what it may mean or not >> first thing i don't know if it is a bullish or bearish side. q-4. we didn't have a high yield bond the market is much healthier all the company has one thing in common there is a huge change in makeup of what is a good point. for the most part, tech businesses they're changed in the makeup of what the market is going to be if we look forward, the components of the market is more driven and makes sense by technology do you buy lyft? >> we did buy a little bit of lyft >> how do you value a business that lost a billion, where in your model do you get a return on cash? >> our investigation sometimes is valuations and capital flows. capital flows around if you get ipo. >> did you sell as well? >> yes >> you bought and soulld >> yes >> for businesses and tax environment, definitely more positive and w

. >> a lot of people are worried of bristol with the combination of celgene, i am not >> i know you are>> speaking of stocks under pressure, occidental is not done very much this morning. only 2.6% right now. shares of anadarko are up sharply about 11% or so. but, that's not a bad move down. now, you don't have anybody setting it up. right now it is going to be the winner or event related fund or not sorting this you may expect shareholders to be a bit less excited -- i don't know what do you think? >> here is what i think, all right? i am going to hit it right between here >> a little music. >> here is what chevron is going to do. they can buy occi and anadarko, you won't even see it. listen, we kind of like your company, we'll buy you with anadarko that's why david, you seen it you have seen a guy comes back and listen, i will buy you now, i am saying chevron has the fire power to buy companies. >> i don't think they're going to do that >> they have the fire power. >> yes, the bump that they may need at some point to initiate is certainly not a huge number for them unless as we have s

this is not -- i like celgene better i think you are right.ill be moments where you did not want to own chevron. >> mike wirth is going to buy back a lot of stocks he would be buying back $5 billion to close the deal >> oil is hard to read right now given the iran sanction waivers and headline we are getting out of venezuela very disturbing and unclear of what the situation is there. we know what a difference that supply would make. >> david, so right >> $7 on that. >> really quick, jim revenue and gmv beat stock is up 65%. >> this is the opposite person, when you are a small business person, you want to have your own store. they everyone will sponsor shopify is the company that a lot of people in silicon valley want to buy and adobe. they're not for sale and they're on "mad money" today. >> shopify >> i didn't know that. >> let's say we decide to go into a business. mainly brick and mortar. we want to do great looking shirts and ties and pocket squares. shopify they think us do well, they'll give us some money for the millennials. can you ima

giovanni and talking about celgene deal looks like it is going to close.t boss runs the best conference i go to, retail pulse of the consumer. don't listen, jay powell darn good. >> jim, we'll see you tonight. >> this was fun. we are in business >> been a good friday. "mad money" 6:00 p.m when we come back, more of david's interview with bob iger as disney is up 10% plus we'll check in with former fed chair greenspan. dow is up 263. ♪ (vo) i know what you're thinking. electric, it's not for you. and, you're probably right. electric just doesn't have enough range. it will never survive the winter. charging stations? good luck finding one of those. so, maybe an electric car isn't for you after all. or, is it? ♪ the ai i need? it's gotta scale across my business. starting here, in procurement, helping us find the right suppliers. then here in logistic, to avoid disruptions! here in sales. even here! i'm talking about ai we can build to work... here, predicting trends. and here, wherever our data lives! and here, working with all our other ai! i think we're do

people bother to look at this is not celgene. >> this morning you think pioneer is on your new list. a fabulous company. it is ridiculously well. they had a couple of misquarters. it is about -- 30 years, that guy was like middle management >> david faber got an interview on your show with bob iger, what do you think of the enthusiasm of disney last night >> i also said how many people in this country have children under the age of 12? you really not going to take this it is almost un-american i get it >> we got seven dwarf analysts recommended. >> i have never been call that >> i want a cut. >> i will take a percentage. >> we also want to thank our guest, gilbert who have been here for three hours, fun hours. >> relative, that nasdaq, the speed of the game. >> was it fast >> we single handedly rebuild detroit. it is one of the great stories it is absolutely is. >> i only come here once and a while and treated really nice. you guys are gatre >> thank you very much, we got a lot more of "squawk" coming up in just a moment the future of technology investing lies beyond the tech sector.