on elizabeth arden's last close.nterprise value is $870 million. revlon sees full-year combined company sales of $3 billion as a result. says that scott beatty will be joining the board as a nonexecutive vice chairman as a result of this deal. ♪ scarlet: i am scarlet fu. it is time for the bloomberg business flash. a bombshell from the 93 year old old sumner redstone, removing five members of the viacom board, including the ceo. that is according to a statement from redstone through his holding company. five new directors were elected. a judge to approve the ouster and replacement. topped estimates after cloud-based products pick up momentum with corporate customers. fourth-quarter revenue included some adjustments with $10.6 billion, exceeding estimates. cloud revenue increased 49% from a year earlier. revlon is buying elizabeth arden for $14 a share in an all cash deal. scarlet: revlon said it committed $2.6 billion in financing is looking for full-year combined sales of $3 billion. scott dede will be joining revlo

shares of elizabeth arden serving 48%. revlon says the combined company will have a presence in more markets worldwide get the deal comes months after revlon sergeant shareholder, ron perlman says he was peeking above putting the company up for a sale. lauren: chairman and ceo james crowe seldom one of the topics, the housing market and mortgage qualifications. >> qualification standards can be relaxed. one of the areas that has to be dealt with is the first-time buyer. the first-time buyer used to be 40% of new home buyers. it is now closer to 30%. what is going on? how many young people have a college dad? the college dad comes in front of the mortgage debt. how are they going to deal with that issue? lauren: you can see more at 8:00 p.m. eastern right here on the fox as the south park. nicole: stocks to watch repeats smith & wesson lead stocks. shares jumped 7.8% after quarterly results from the largest gunmaker date topics that patient. the stocks of smith & wesson and other firearms markers have rallied following the

. >>> revlon will acquire elizabeth arden in an all-cash deal for about $870 million. revlon said the merger will provide the company with a significant presence across all major beauty channels. elizabeth arden stock surged more than 49% in the extended session, but ended the regular session down just a tick to 9.41. revlon rose in after-hours trading but finished up marginally to 31.15. >>> marijuana is going more mainstream. microsoft has become the first big well-known company to partner with a firm that operates in the fast-growing marijuana business. eamon javers has been following the story from washington and joins us now. good to see you, eamon. why is microsoft making this move? >> look, the marijuana industry is growing. so many states having legalized either medical marijuana or just plain old recreational marijuana. that means it's a big business but there are a lot of companies out there having real trouble in terms of compliance because it's not legal on the federal level yet. a lot of banks won't touch the marijuana business so there's an operating spac

revlon is buying elizabeth arden for about $875 million, paying $14 a chair which is a 30% premium fromay's close. bank of america and citigroup have committed about $2.5 billion to help pay for the acquisition and refinance elizabeth arden's debt. oracle sales beat estimates on the back of cloud-based products, with fourth-quarter revenue at $10.6 billion. that is the decline of about 1% from a year ago. oracle predicts it will see a bigger boost from the cloud period, forecasting a jump as much as 80% and cloud-based sales. shares rose in extended trading. that is your bloomberg business flash. anna? anna: thanks very much. making it harder for big banks to obtain funding amidst the growing concern of brexit. nejra joins us with a chart. nejra: yeah, some are saying quite recently that one place where we were not seeing a brexit stress showing was in the money market. but it looks not anymore. i have the gauge of bank borrowing costs. it hit the most extreme level since 2012. just yesterday, on thursday. and you know this latest bout of turmoil also illustrating how regulation changes

revlon is buying elizabeth arden for about $420 million in cash.his deal would boost revlon's skin care and perfume office. both companies have struggled in the past few years, elizabeth arden makes perfumes and colons for celebrities like justin bieber, taylor swift. sales though are down. you might have noticed your grocery bill is going down. government data shows grocery prices have fallen by nearly 1% in the past year. mostly because global demands is down, supply is up. meat, fish, milk, bread, egg price haves all fallen, but fresh fruit prices rupp. >> and facebook will start tracking which stores you're shopping in, businesses which ties on facebook will be able to include a map of the closest physical store and then facebook will use the phone's location, to see if people actually went there to shop. so, brooke, nicole, they're watching. >> yes, i would notice those ads pop up for the things i was just searching for on line, like targeted marketing is happening. i don't know. >> thanks, jill. >> after months of debate, the sugary drink tax

>> okay, revlon is buying elizabeth arden for $430 million in cash.his deal will boost revlon's skin care and perfume office. both companies have really struggled in the past few years, elizabeth arden makes perfumes and colons for slew of celebrities like justin bieber, taylor swift. sales, though, are down. nicole, brooke? >> that's interesting. >> yes, why not get together, flight. >> if you can help each other snout. >> thank, jill. >> well, rittenhouse square transformed into a ballroom last night. >> it was the 33rd annual ball on the square, look at them getting down. >> oh, my. >> this is brought together more than 500 community leaders, people who live in the area, proceeds from the black tie gala will be used to help maintain the park. meisha and i stayed up little late to help support this wonderful cause. >> there we are. >> pictures of you, you look lovely. >> thank you. >> did you do a little dancing? >> no dancing. >> i love to see people dance, especially when they just don't care. >> that's what happens, people just want to have fun.

this is elizabeth arden. if you like the trend, it's el, estee lauder.site and you'll understand why people have to do it. you have to wear make-up. carl, everyone has to wear make-up. make-up is an expression, too. i was watching the web site mike, trying to feel young, millennializing myself. they put make-up as a statement now. make-up, statement, selfie. sara eisen did not have a selfie stick yesterday she was talking about in china. make-up. if you go outside, you need elizabeth arden or estee lauder. mack, do you know mack? >> of course. >> i'm thinking about wearing mack this weekend. >> you're talking to a guy who wears make-up almost every day. >> i'm anti-millennializing myself. but elizabeth arden, revlon, it's driven by the need to have make-up when you walk outside. >> we started talking about jim bullard. steve liesman has more. >> he says the mismatch between where the fed is and the market is, the idea that the fed has been above where the markets are on the fed funds rate is eroding credibility and causing market distortions. his confere

elizabeth arden for $900 million, $14 a share, 50% premium.ca and citigroup have committed about $2.5 billion to help pay for the acquisition and refinance elizabeth arden's debt. singapore airlines is to assume nonstop flights to the u.s. three years after putting them on hold. francisco, to san ending united rains as the only carrier to connect the two nations. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. rishaad: we are looking at internet advertising set to overtake tv ad revenue for the first time. the report also says the full potential of the digital sector will still remain unrealized. what is the major finding? >> the most striking finding is that by 2017 we will see internet advertising will override television advertising. rishaad: so linear tv versus internet, but you can't just say internet because there are so many ways you look at digital. there are different delivery channels. which ones are the most effective and which ones are the least? advertising,ernet one is mobile, the other

elizabeth arden and revlon gaining on that. lots of corporate news impacting the markets.head, cuba gets its first american own factory. what will it make? ♪ david: cuba is getting its first american own factory and it will be making something to help modernize the island nation, track thursday. ian frisch joins us now to talk about it. introduced us to the guys behind this. what is the need they see in cuba? >> the agricultural industry in cuba is outdated. most or all of their tractors are from the former soviet union. they cannot update their tractors, cannot fix them. these guys thought, the perfect business would be to build a low-tech tractor. vonnie: why didn't john do decide to do this? >> the cuban people want to be involved in the process. they do not want to rely on an import system. the u.s. government as well when the embargo was lifted, want to be approved -- involved in approving these businesses. these guys applied and said we want to help you build it. said, how about we set up a manufacturing facility, get cuban workers come and get moving on the ground.

elizabeth arden.when yo view l'oreal and is tay laudehr that and coty. >> ulta. that's been an ultimate stock? and revlon's stock has not been that good. >>> if you've ever needed proof of what you write in e-mails ask the employees at goldman sachs. like many companies they monitor e-mails, however, eamon javers has found 187 phrases that draup red flags. eamon javers is here to read all 180 phrases it's fascinating reading, we've gottet the whole list. unfortunately due to cnbc i can't read all the words out on air. but, look. they tell the employees at goldman sachs that they're being monitored but the employees don't have the lift of phrases. we've been able to obtain that list from the aurs. when you look at it in total they're looking for any kind of dispute particularly with clients, any kind of emotional tension among its employees and take a look at some of these search terms and you'll see what i'm talking about. among the things that they're regular flagging. rebate or refund, what i lost,

revlon is buying elizabeth arden. shares of elizabeth arden surged 49% on word of that deal.hat's it from cnbc, first in business worldwide. sight in afg. sight in afg. if you're totally blind, you may also be struggling with non-24. calling 844-844-2424. or visit my24info.com. do you really know what it means? no. the answer is no. because it's complicated and science-y. but with my nutrition mixes, u don't have to worry about the science. you can just put it inour pie hole. planters. nutrition starts with nut. i want my blood sugar i to stay in control.ck. so i asked about tresiba®. ♪ tresiba® ready ♪ tresiba® is a once-daily, long-acting insulin that lasts even longer than 24 hours. i want to trim my a1c. ♪ tresiba® ready ♪ tresiba® provides powerful a1c reduction. releases slow and steady. works like your body's insulin. when my schedule changes... i want something that delivers. ♪ tresiba® ready ♪ i n take tresiba® any time oday. so if i miss or delay a dose, i take it when i remember, as long as there'st least 8 hours between doses. once in use, it lasts 8 weeks without

and elizabeth arden, revlon is buying them 870 million dollars.et's get to politics, something different for you here. donald trump and the n.r.a. according to reports essentially in agreement on the no-fly no buy list. if you're on the no-fly list, you can't buy a gun. here is steve hayes put on the broader terror watch list. i want to talk to you about that, steve. this is outside the regular course of politics here. what happened to you? >> yeah, it was an interesting -- it was an interesting episode to be sure. i had taken a oneway flight to istanbul with my wife to participate in a cruise for hillsdale college. we flew to istanbul, and i presented by boarding pass at the airport and caused great alarms to go off. shut down my lane. did this hour plus search. it was quite an ordeal and at last i was on the list for several weeks for six weeks. stuart: how can you get off? >> it was a funny story, bret baier was hosting homeland security jay johnson for an interview on special report and talking to him mostly about inlegal immigration and i tal

and in the another sector cosmetics maker rev lon has agreed to buy elizabeth ar arden. the deal will help the companies take on rivals e stay lauder and lawyerial. shares rose on thursday. >>> foreign exchange markets. sterling has been mostly higher in the session on a perceived boost for the campaign in favor of remaining in the eu following the news that british labor mp jo cox was killed. you can see up .6%. equity markets have been also trading higher on the day. 1 plus percent on the ftsi and the dax. the telemarket ahead 2.5%. 400 plus points attached to the index. >>> julia caught one t the russian finance minister and spoke to him about the global ram fictions of the eu referendum and how concerned he is about a potential brexit. >> there are a lot of different opinions over the consequence of a brexit from the eu. without a doubt it could have an effect on the volatility of the market and foreign currency exchange rates. to what extent this volatility will occur to a greater or lesser extent, nobody knows this matter of supposition. nevertheless i don't think

. -- bnp bnc paraiba revlon buying elizabeth arden for $14 a share.50% premium to revlon 's close. arden revlon has risen your today because the best year to date because they were exploring strategic alternatives. both of these companies have been struggling as legacy cosmetics and perfume companies. , that tsonga is continuing now. sumner redstone trying to remove philip from the viacom board. saga ism, that continuing now. my comment is being upgraded to sector perform from underperform at rbc capital admits this turmoil. -- amidst this turmoil. the stock has not been doing that much throughout this turbulence. david: microsoft's $26 billion acquisition of linkedin raises a question -- which other cash rich tech companies might be looking to buy and whom should they be buying? ted leonsis is the ceo of monumental sports and entertainment. he owns the washington wizards and the capitals. led at air well -- he --l before -- aol ted: i could see apple buying tesla. that would be a smart move if they want to get into driverless cars. tesla is a softwar

and revlon is buying elizabeth arden to strengthens its skin care and fragrance and expand into highrowth markets like asia. >>> and mosaic in talks reportedly to buy vale's fertilizer unit. also hsbc will be paying nearly $1.6 billion to settle a class action suit stem interesting the household international mortgage business it bought back in 2003. i remember covering that deal. hsbc expected to take a pre tax charge in the second quarter. >> also investigating ericsson for possible corruption this china. the company is declining comment other than to say it is cooperating. >> let's get back to the broader markets. joining us now an stas oia --. you're ticker safe. i checked with becky. >> yes we are both there. >> about whether it was safe to actually think that she's with child. which congratulations. because i've done it before. and i've had -- said wow, congratulations and the person said i had the baby a year ago. right? >> you got to be careful. >> we learn from our mistakes. >> a virtual epidemic around here. you are okay. right? anything that you need to tell us? totally co

. >> revlon is buying elizabeth ar done in a arden paying $420 million in cash. revlon hopes the combined company will see bigger profits thanks to the ability to be in more markets worldwide. >>> one gunmaker says it is selling more guns than ever before. smith & wesson company says that quarterly firearms sales rose more than 22% from the same period last year. the company's stock also jumped 7% in extended trading last night. the report was based on sales through april. more than a monday before the shooting rampage at the orlando nightclub. historically gun manufacturers see demand increase in the wake of mass shootings. >>> this weekend there will be fewer guns in contra costa county at gun buy-back programs. it's scheduled tomorrow at the pittsburg city hall. it's happening between 9 a.m. and 3 p.m. the county is giving away between 50 and $350 in target gift card for each gun. people will need to prove that they are county residents but police will not be checking for warrants. >>> berkeley california isn't the only city in the u.s. with a soda tax anymore