david lipton's response, it's too early.ten in to what he had to say. >> the story is premature. we have plenty of time. we're still having discussions with greece. provided that we can reach agreement with them before the end of july, there's financing for the subsequent year and we can just go ahead. for now we're just going ahead with our discussions with greece. >> but the funding is contingent on the outcome of that meeting in july. that's the message. >> well, no, there's funding that exists. if the discussions were to lapse and go longer, there would be other discussions to have about financing. but right now we proceed with our discussions. there's financing for the subsequent year that's already established. >> are you irritated that some of the central banks appear to be unwilling to roll over the greek bonds? >> the central banks will make their own decisions. i think they've made pledges for the ways in which they're going to help greece. we're pretty sure they're going to carry out those pledges. >> does this st

reports greece is facing a funding crisis, denied by david lipton of the imf to us. bund yields also higher. all driven, of course, of what happens to u.s. treasury yields as well. a quick reminder where we tand stand on the currencies front. clearly the aussie today rebounded from a 33-month low. dollar a little bit weaker. yesterday on the yen 98.29. euro/dollar not moving an awful lot. what we are seeing is a lot of people have burroed euro and yen to invest in emerging markets. they sold out of their positions. one of the reasons why yen and europe haven't been sold off an awful lot even as the dollar has apreesh yapted among emerging market currencies. >> we are watching everything happening on the boards behind you. watching the markets incredibly closely after everything that's happened the last couple days. joining us now to talk more about it is ed kian with quantitative management associates. rich steinberg of steinberg global asset management. ed, we've been talking for a while about how there could be a selloff, 5% to 10%. we've got 5%. does it stop here

david, back to you. >> thank you, josh lipton. >>> yesterday, we had a deal in the hospital sector, and today, somethingshareholder and a hospital company filing consensus implication implications to replace the entire board of drirectors glenview capital, and larry robbins will be with us in a little while. there is larry there. you don't usually see the consensus limitations when they are not related to an m&a event that is to help them bring it to the board and have it well received n. this case, mr. robbins in the detailed letter of some 13 pages in length, and 47-slide presentation makes the case that this is simply a board that has not done the job necessary for the shareholders over a long period of time and citing what he believes is underperformance. when you take a look at the total shareholder returns for example calling it a lost decade. there's the board and eight nominees to replace each of them and it is 50.1%, and once you are declared effective by the s.e.c., you have 30 days to get the 50.1%, and you can call a special meeting in 48 hours and say, see you later, board of directors. it

david, back to you. >> thank you very much, josh lipton. >>> want to look at thermofisher scientific.he largest issues of stock this year, $2.2 billion worth. though less than had been anticipated. you may recall not very long ago, tmo, buying life technologies for $76 a share in cash. now 9.5 to 10 billion of that. they said from the beginning maybe $4 billion is what we'll be selling in equity. in fact, they come today with $2.2 billion worth of common stock in that offering. one wonders whether they're generating more cash at tmo, whether they're actually seeing synergies beyond what they might have anticipated. of course they haven't even closed it yet for that $76 deal, but this still, jim, will be one of the largest issues that we have seen this year. in one of the bigger deals that we've seen in a year that we know despite hopes at year beginning has not really seen a great deal of activity. >> we have this watch this. this is a great deal of business. they are a brilliant company. they are the arms dealer for so many of the companies that have a lot of money, biotech, life sci

lipton. pardon me. thank you so much, josh. we're in the final 10 minutes of trading. a wild week. market up 55 points. >> davidullback is probably not over. he'll join us next to tell us how much more selling could be ahead. announcer: where can an investor be a name and not a number? scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: scottrade- proud to be ranked "best overall client experience." >>> about eight minutes before the closing bell. maria is working on her 1,001th first tweet. >> yes, i am. >> coming down to a tough week for investors. here with us. >> two investors to help break it down. chad morganlander and david from morgan stanley. good to see you. thanks for joining us. david, what do you think? we had a tough week obviously. emerging markets getting smashed. u.s. got smashed this week. what do you do now as an investor? >> maria, wait for the