saying chubb pays. in other words, here's your check. you know? that ma tees it's worth x? here's your check. and this is one of the premier new jersey companies. it took my breath away. greenberg is smart. >> 60 years old. son of hank greenberg of aig, brother of jeff who mcclelen. he's grown the company through acquisition and organically while chubb has gone another direction. this by far the largest deal they will have done. >> huge deal. we had the towers deal yesterday. this is a monumental keeldeal. if we didn't have the international stuff, we would be sitting here saying how did that happen? how did chubb get taken over. the answer is evan greenberg is trying to put together -- >> a world class insurer. >> he's doing it. >> there is the tax aspect of it. it's not the driving force but it is interesting to note on the inversion question which we've discussed. i brought here years ago and many loopholes were closed. now what's hatching is the ultimate inversion. you sell because you can't compete

the name chubb stays, as it should. chubb's brand is pristine. as my dad said they pay.ning chubb is famous for being there with a check the moment you need it. i always felt i had done well when i even had to bother with chubb. that's who you went to. this is an amazing company. acquisition is a stunner. congratulations mr. greenberg creating an insurance colossas. with travelers ramping and hartford roaring higher. both stocks are climbing because there's a sense that more deals are on the horizon and a belief pricing will tighten, making this cutthroat industry less competitive. be careful. there are many different lines of business. in this market though companies that make acquisitions are innocent until proven guilty. i like that. next up we are hearing that long last the charitable casino numbers could be bottoming. former popular favorites have been horrendous of late. they are on the move and could soar. i've always felt wynn is a great outplayer. i'm not calling the bottom yet, but i am about to. how about the gift that keeps giving constellation brands? it kee

ace buying chubb creates a tower help.tene buying up -- and i don't know if horizon will be able to snag depomed. most important, aetna's acquisition of humana would be terrific. as david broke news this morning, we haven't seen the last of these mergers. i know you know the rationale of why these stocks could work big for the rest of the year. stay with cramer. >>> it is time! buy, buy, buy, sell, sell, sell, what time i say, play this sound and the "lightning round" is over. are you ready, skee-daddy? sam in florida, sam? >> caller: hey jim, boo-yah from tampa. how is it going? >> real good. >> caller: mastercard. >> mastercard, we did a little trimming. >> sell, sell, sell. >> for owners. why? we're concerned about that european lawsuit. let's go to jack in washington. jack? >> caller: hi. my stock is boeing ba. >> wait for the quarter because sometimes after it does that we will probably pull the trigger. mike until pennsylvania, michael? >> caller: jim, thanks for taking my call. i'm starting to look at dillard's. >>

chubb is well known.they wanted to do it because of my -- >> because of your celebrity. >> not because of that. honestly. i'm not kidding. anyway, we've been talking about greece -- >> as a rule they'll price, right? >> not necessarily. we've been talking about greece all morning, but the other possible default on our radar, puerto rico and kate kelly joins us now. that's a pretty good deal. >> referee: pretty lovely. this is the view outside of our hotel. you can see the ocean behind me and some buildings over here. but today is the day. it's deadline day for some $2 billion in debt service payments from various borrowers around the island to make good with investors. they have probably until close of business although the details vary according to the loan literature. but the issue here is that you got $72 billion in overall debt for the island. their governor has called not payable. although overnight it appeared some of the individual borrowers were going to make good on their payments and reporting t

ace has agreed to by chubb for $28.3 billion. ace is up by 2%. is at a record high.for the specifics, ace to own 70% of chubb. the purchase price is a 30% premium on the close. on the mind as we are now in the noon hour. goldman sachs did initiate advice on a few restaurant companies. the target price is $28 with an upside of 33%. our survey shows a steady improvement in outback's value proposition, steady improvements in traffic, and growing residence with the dollars of those important millenials. buffalo wild wings is another buy. we believe the company is undervalued and there is favorable wing price risk and reward and potential for a lunch in technology driven comp associated with all of that going into 2016. are on the stocks move thanks to what is happening not here in las vegas, but what is happening in macau, the world's largest gaming city. wynn, mgm and las vegas sands of 4%.ween about 5% and 2 and 3/ pimm: wing price risk reward. stephanie: viacom. pimm: viacom seems to be having a midlife crisis. the media giant is missing tv viewers. this season accord

ace will buy chubb for $28 billion. how our competitors sizing up the competition?ytna agreed to b humana for $37 billion. betty: we met in aspen. allstate was a big sponsor. in the middle of when we met last week, we had chilled and ace announce their merger. how did that impact the insurance industry? does that impact what you are going to do? tom: the merger makes sense strategically and economically. they do enough of the same things -- they are complementary enough that they can leverage -- likensurance space, it's -- it has many neighborhoods in it. you have health insurers. a precipitating event in the health-care mergers was the affordable care act. you've seen a bunch of new capital come into that business. there's been a bunch of consolidation in the neighborhood. the next neighborhood is the commercial -- ace and chubb sell commercial insurance to businesses. whether this will be the starting gun of a consolidation in that space because of the people see what they see and what to do it, i don't know. i'm sure they are thinking about it. we are in the pers

ace has agreed to by chubb corp. by .5%.is up hubb a swollen 70% -- chubb is one to look at. each shares valued at $124. trading at about 120. other insurers are rising on this news. hartford financial services seeing its highest since september 2008. hartford is up by 5.5%. cincinnati financial is up by 3.8%. but there is a caveat. the city research note says that ce-chu acquisition would not be good for the sector. m&ahen analyst says that is a distraction before markets had in a darker direction. the u.s. gaming stocks are on the move thanks to what is happening in macau. the world's largest gaming city. wynn is highest at 5.2% there. china is using restrictions on local mainland tourists visiting macau. normally it was five days. now they can stay seven days. they want people to spend more money and the reason in the bloomberg terminal right here -- take a look right here. basically what you can see is revenue at a 4.5-year low. last time were, saw that was around the end of -- august, late 2011. scarlet: we will be talking about the top casinos in just a little bit. mark

ace will acquire chubb. both stocks are up.deal. >>> more clinton controversy. 3,000 pages of emails released on tuesday shows hillary clinton was in contact with unofficial advisor sidney blumenthal even as the white house blocked him from being a part of her official staff. emails show top white house officials communicated with hillary on private email address while she was secretary of state. fox business washington correspondent blake burman joins us. blake the big question is, will any of it stick? >> reporter: as you might imagine, charles democrats and republicans are responding on this one. the latest batch of emails show that hillary clinton was receiving foreign policy advice from sidney blumenthal as early as 2009. that is years earlier than publicly known. clinton previously said blumenthal, who was her husband's former aide who reportedly had been shunned by the obama administration, was sending her unsolicited advice. however the new emails show wide range of correspondence from blumenthal who was not on the stat

switzerland based ace limited will buy chubb for $28 billion in cash and stock. that deal comes as they set their faces pricing pressure and diminishin interest come. ace was up a fraction to $102.49. general mills out with mixed results as th cereal maker continues to struggle with changing consumer tastes. the dollar also weighing on the top line. its profit managed to beat estimates. shar rose 2.5% to 57.09. a huge jump in earnings from constelln brands. the alcoholic beverage maker saw profit rise as the mexican beer segment continued to compel growth. the ceo sas tt to continue. >> we expect our beer business to grow double digits this year. so first quarter, the growth has been even beyond our own expectatio and at this point we don't foresee that growth rate changing dramatically as we go thh the year. >> however, shares were off attraction. the spice maker's profits fell. the full year outlook but that wasn't enough to satisfy investor shares nearly 2%. they finished at 79.57. coffee cups from j.m. smucker today. its droppin pri for the majority of its co

ace and chubb sell commercial insurance to businesses. this will be a starte and consolidation in that space, i don't know. we are in the personal lines business. we sell insurance to consumers. that is our neighborhood. half of the businesses are done by mutual companies. those are companies that don't have stockholders or merge with anybody else. all things, these things tend to move from neighborhood to neighborhood. thinking always out about our online presence. the question is, is it going to happen in the commercial insurance industry? scarlet: is the u.s. doing enough to deal with climate change? we have been agnostic as to why it is happening. scarlet: forget the reasons behind it. mr. wilson: it is always about assigning blame. the weather is more volatile today. , of course, make sure we can be there for our customers. so we don't new technology, new capabilities, so when there is a disaster, so when sandy came through new york, we were , ouring on people's doors customers, before they called us. part of it is adapting technolog

ace has announced a $28.3 billion buyout of chubb. the cash and stock deal will see him earning 70%. the takeover will help ace who competes with rivals, formerly led by greenberg's father and berkshire hathaway. investigators say a faulty connection mistakenly shut down the engine during a flameout, 43 people died when the flight lost out the dude. and it crashed into a nearby river, minutes after takeoff from taipei. we are just three days away before greek voters have their say. a poll suggests increasing support for a yes vote. 47 percent of people vote in favor of the rescue deal. compared to 43% in the no caps off. the trimester renewed his call for voters to reject the plan in sunday's referendum. negotiators say they have resolved differences for curbing iran's nuclear problem, and historic agreement insight. here is what the iranian foreign minister had to say. >> we will continue, and we will make progress. we have made progress, and we will use every opportunity to make progress. anna: so, let's get thoughts now. he is the

ace limited has agreed to by chubb, which is known for ensuring mansions and guts for $28 billion in cash and stock. evan greenberg will run the combined company. scarlet: the u.s. and cuba have agreed to open embassies in each other's capital. in the last half-year, the u.s. has removed cuba from its list of state sponsors of terrorism and made it easier for americans to travel to the communist country. president obama making the announcement at the white house. president obama: this is not merely symbolic. we will be able to substantially increase our contacts with the people. we will have more personnel at our embassy and diplomats will have the ability to engage more broadly across the island. that will include the cuban government, civil society, and ordinary cubans who are reaching for a better life. scarlet: the embassies are expected to open on july 20. secretary of state john kerry will go to the embassy to raise the mac and flag. hillary clinton's campaign raised at least $45 million in the first, breaking president obama's old mark. more than 90% of the donations were $100

the big $20 billion deal in the insurance industry with a spying -- ace buying chubb.k you so much. still ahead, restaurant chain tgi friday's looking to boost sales with millennials. aboutll hear from the ceo why he is selling 6000 calories -- 1600 calories jack daniel's ribs. ♪ olivia: welcome back. fast casual and casual dining art duking it out. atricans spend $30 billion fast casual last year. casual dining is moving in the opposite direction. traffic has been declining at a rate of 2% each year since 2009. now, is trying to go younger, healthier and more customizable and faster service. nick is the ceo and president of tgi friday's and joins me now from dallas. also on set with us, pimm fox. to steal backing market share from chipotle in an panera? richard: we are relevant right now -- going to millennials, we saw up until this time last year, 20% of our basting layouts. today, 32%. -- 20% of our customer base. him: i'm wondering if you can tell us about the franchise business. richard: one of the things we've we have new sponsors and we initiated a program to re

higher $1.24 a share for chubb and the stocks are on the move this morning.ornings with maria, "varney & company" is next and charles payne is in for stuart. varney today, charles, a great show and you'll be covering the latest on the ground. >> we will, fantastic interview with donald trump. you were great. maria: thank you. what can you do when you've got donald trump, dominates, right? >> he dominates, but, you dominated, too, pushed back, gripping. maria: thank you. >> see you later. and the big story, you know what it is, it's greece and it looks like they may be blinking a little bit and may be backing down. we have reports out now what they're willing to do to get another emergency supply cache and investors are clearing the move. call her teflon hillary. and the private e-mails were out overnight and probably chance seeing what's happening. a lot of accusations are flying around, but here is the point, will any of it actually stick? of course, the donald, donald trump, you don't want to get on his bad side. the presidential candidate waging a war agai

in the commercial lines where ace and chubb are it is yet to be determined whether this will be the starting gun for consolidation in commercial, but i know a lot of people are thinking about it we are in personal lines business, and about half of our industry is controlled by mutual companies are not subject to the same pressures so i don't think this is a start the starting gun for consolidation personal lines. >> i see the regulatory environment another part of the story in terms of those of growth a number of insurance companies pecuniary damages back what government deems systemically important how has environment impacted your company. >> regulated at state based level we used to have a bank i shut it down did not want to be regulated by feds be -- that was a good choice. >> ge is doing, jeff immelt everybody else. >> we did it early my comment from my compatriots like hotel california, you can check in any time you want you can never leave so -- >> za will. >> we checked out early. >> great to have you on the show you the so much for joining us tom wilson from allstate we'll be right

ace buying the company for $28.3 billion in cash and stock and values chubb at 124.13.s though traders and investors are pretty happy about this deal, saying it creates an insurance powerhouse. adding more commercial insurance, insurance for wealthy individuals to ensure things like yachts. it seems to be a good business for both companies. this is the trend alex deal has been hammering lately. something relatively new here. let's take a look at constellation brands. there is doing well. shares up 3% after the company's earnings come also raising its forecast for the year. the company says the beer volume growth issue will be in the mid to high single digits. this afternoon sales were up 11% year-over-year. the past quarter, due to volume growth. people are drinking more beer. let's get to auto sales. ford is trading higher, even after the sales missed estimates. the app series sales down 8.9%. -- f series sales down 8.9%. average transaction prices on the f series actually rose. they don't talk about the sales of the f series in the text, you have to look at the table.

tom: what i noticed in the chubb/ace merger yesterday is that we will be -- the first year.is what boards are thinking about is the financial. erika: i think it is starting to change. whether it is the clinton global initiative we are starting to go to the board level and say, you know what? we are going to hold you responsible. whether you see changes and proxy access or governance issues, the boards will be held accountable to a greater degree. some are progressive. vonnie: erica carper continues with us for the entire hour. putting the u.s. employment picture in perspective. we will show you how the picture compares to what is happening in greece and puerto rico. bloomberg will provide special coverage of the greek referendum starting sunday starting at 6:00 p.m. ♪ tom: good morning, everyone. michael mckee and vonnie quinn with me. futures up 3. the euro at 1.1076. our single best chart. vonnie: the story of three different nations, to nations and a commonwealth. look at the yellow circle is where the u.s. and greece cross. its diversions from that point when it comes to

. >> chubb was the subject of that large deal and we've seen that continued pace of m&a that as you sayas been largely unmatched in the past and many would see as a sign of confidence in the market although maybe getting a bit long in the tooth. that said i think we're going to probably set up for a very busy fall because the same conditions are still in place. namely acquire stock prices typically respond positively. you can use catch which you're borrowing at virtually no interest rate at. it makes these deals accretive. much of it setting up for a positive cycle until it's not. >> or if interest goes go higher. >> or if they don't. >> or you see strategics start to stray into areas they shouldn't and things don't necessarily make logical sense in terms of acquisition. we haven't seen much of that. >> let's talk about what investors should be to fo kusing on. kristina, it's good to see you again. before we get into the trading environment. just the employment cost index. we usually don't pay much attention to this number but we know the fed is watching it and it's not good to see wage

. >>> switzerland based insurance products chubb, shares soaring by 28%. food manufacturing giant general mills reporting weaker than expected revenue in may. the company has been struggling to adjust to changing consumer tastes. the shares still up moderately. >>> and peabody energy warning it will post a worse than expected second quarter loss due to bad weather and lower coal prices. peabody absolutely tanking like a stone down by 26%. >> wow. 80% year who date. >>> the first half is over. the recent sell-off could be setting up a nice trading opportunity for the second half of the year so says dominic chu and he's got five stocks ready to pop in the second half. >> here's the thing. >> promise? >> no. i wish i could tell you that they were for sure going to go higher but there is our friends over at cnbc pro. subscribers there can read about this story online. they looked at two specific parts of the market and ten stocks total. five in one, five in the other. this hour we'll bring you what's at least showing perhaps signs of life given the downturn. t