. >>> emerson electric scrapped its $29 billion bid for rockwell automation after receiving several rejections from its rival. emerson said it's moving on, it's going to focus on smaller acquisitions. the company said it would consider buying some of general electric's assets if ge looks to sell. emerson electric shares up more than 63%. shares of rockwell up 3% at $197.13. >>> fast food chain arby's will buy buffalo wild wings for about $3 billion, including debt. arby's parent, roark capital, said the company will operate as an independent brand. buffalo wild wings has struggled to attract diners and investors are hoping for a successful turnaround. bww shares blew higher -- they took wing, how about that? >> there you go. >> by 6% today. they finish at $155.60. >>> nuance communications, which specializes in speech recognition technology, reported better than expected earnings and sales that blew past estimates. the company also gave guidance for the current quarter that topped expectations. shares of nuance were initially higher in afterhours. they ended the regular session up 3% to $15.86

the world plus if someone searches for you on the world wide web what do they see what is it emerson electric and its.

emerson electric shares up by about 2.5%.ricesg it out with oil this morning, a significant upward move in oil trading close to $58 a barrel for wti. that is after we got the industry report on we the inventories in the u.s. last night that showed a larger than estimated drop of more than 6 million barrels. coming up in about 30 minutes, we will get the u.s. official data to see if it does confirm what the api reported last night , but it to has been an impressive week for this run in oil prices. mark? mark: julie, what a day we are having. the third day of gains, the best run since september. it is budget day here in the u k. ftsetle chart for ftse, 250, all rising and holding on to gains in the wake of philippines's budget. the budget. they fell, rebounded, gaining for seven consecutive days. the highlights of the budget, we are seeing 2018 economic growth of 1.4%, against the 1.6% predicted as a product of the revised productivity data. growth is expected to be lower than forecasted every year through 2021. on brexit, the

rockwell automation is burning the third takeover attempt from emerson electric.aying that it is still undervalued. rockwell automation trading lower and emerson electric is trading higher. shery: thank you. coming up, jpmorgan chairman and ceo jamie dimon is set to take the stage at the economic club of chicago. we will bring you his comments when he begins. this is bloomberg. ♪ kevin: this is bloomberg markets: balance of power. shery: let's check in on the bloomberg first word news. >> north korea today said president trump's decision to relist it as a state sponsor of terrorism amounts to serious provocation. the regime's official news -- news agency says the designation justifies the country's continued development of nuclear weapons in order to protect itself from american hostility. -- assessas declared to be ethnic cleansing. secretary of state you -- secretary of state rex tillerson says they will work united nations in myanmar. vigilantes have been accused of attacking villages. more than six -- more than 600,000 have fled. a second federal judge has sto

the best-performing stock, emerson electric. as it cancels the big deal it has been attempting to do. they are abandoning the quest to .uy rockwell automation you could have argued this was a foregone conclusion because rockwell did not want to be bought and refused offers three times. emerson electric is saying it is going to concentrate on its own business, make smaller acquisitions and not go after something that is this large. emerson has been trying to rebuild because a couple of years ago it sold computer power equipment that had been building over the past couple of decades and that cut the revenue of the company considerably. they are trying to build it back up again. up, an exclusive with meg whitman who will step down from hp. his politics in her future? ♪ scarlet: you are looking at a live shot of the senate. the senate budget committee has advanced the tax bill on a partyline vote. there have been protesters demonstrating. the last one was just removed. they were shouting killed the bill even as the bill advance. it

. >> reporter: morgan brennan, wisconsin, for "nightly business repo> emerson electric makes a third bid for rockwell automation. after failing to convince rockwell to engage in talks before, emerson is raising its offer to $29 billion. they say they hope rockwell will consider the benefits it says a merger would offer. emersos shares fell fractionally. >>> time inc. reportedly in talks again to sell to publisher meredith corporation. the koch brothers have tentatively agreed to back meredith's offer with $500 million. the deal wouldster ad shares. >>> "the wall street journal" says an activist investor of barnes & noble wanted to take the bookstore chain private with the help of current shareholders and debt financing. barnes & noble responded to the proposal that values the company at about $650 million. it said a deal is not feasible. barnes & noble shares, though, rose more than 7% to $7.10. >>> best buy's total sales missed the mark. the electronics chain underdelivered on earnings and gave a weaker than expected outlook for the holiday period. best buy shares off more than 3% on

. >>> rockwell automation has turned down emerson electric's third takeover offer. rockwell determined that the $2t interests of its shareholders and that it presents long term risks, includi difficulty staying competitive in a very quickly changing market. rockwell automation shares were off by 1% to $191.02. shares of emerson were higher by 2.5% to $61.88. >>> tivo has won a patent infringement case against comcast. ruled that comcast' de set-top boxes violate two of tivo's boxes. comcast is now prohibited from selling certain versions of the device. shares of tivo jumped 7% to $18.90 while shares of comcast, the parent company of cnbc which produces this program, comcast shares off a penny to $36.41, sue. >>> private equity firm apollo global management is reportedly close to reaching a deal to buy the restaurant chain cordova mexican eats. shares rose nearly 1% to $30.43. >>> chip maker broadcomm is reportedly considering upping the $103 billion offer to buy qualcomm. broadcomm may offer more of its own stock. the potential move represents broadcomm's eagerness

also new this morning, emerson electric has withdrawn its bid to buy rockwell automation that bid hadell had been resisting the bid. emerson says it now has decided to withdraw the proposal because rockwell had refused to engage in talks about that offer. rockwell now down by about 3%. emerson electric up by 1.25% >>> japan's soft bank is reportedly offering the purchase shares of uber at a valuation of $48 billion. that would be a 30% discount to the most recent valuation that we saw, and that was about $68 billion. uber board approved the investment in october. the deal would trigger a string of corporate governor's changes that would limit some early shareholders voting power. it would also expand the board and cut the influence of founder travis kallinic -- it helps to get a soft bank investment couldn't "squawk box" use some type of investment to expand something or -- >> couldn't you -- >> they invest everywhere. >> we're going to talk about this, though, with tom friedman, because he is just back from saudi arabia there is skittishness, want only about the uber transaction itse

give us some of the business of financial headlines today well after a failed bad last month emerson electric has sweetened its offer to buy a rockwell automation and worse it is now offering twenty nine billion dollars or two hundred twenty five dollars a share up from its initial bit of twenty seven point six billion dollars rockwell which is based in milwaukee is a six billion dollar company with over twenty thousand employees worldwide and emerson which is located in st louis has been trying since august to make a deal and a statement chief executive david far said we were main convinced there is a compelling strategic operational and financial merit to bring together our two companies however it's unclear when rockwell's board of directors will make a final decision. the number of americans filing for unemployment benefits jumped up last week to children forty nine thousand which is a ten thousand per cent increase from the previous week the poor week average also rose by sixty five hundred however the overall numbers are looking strong for the past two years the low.

twenty headlines today well after a failed bid last month emerson electric has sweetened its offer to buy a rockwell automation and worse it is now offering twenty nine billion dollars or two hundred twenty five dollars a share of from its initial bit of twenty seven point six billion dollars now.

what emerson electric has sweetened its own together are two companies. the number of american holidays. and norway's sovereign wealth fund might be dropping its investments in oil and gas in a letter to the ministry of finance the norwegian central bank wrote in the bank's view this will make the government's wealth less vulnerable to a permanent drop in oil and gas prices the bank's analyses of the oil price in the government's wealth are based on the government's future oil and gas revenues the government's direct holdings and stadol oil and the g.p.s. g. currently the fund has about six percent of its money invested in oil and gas stocks but if parliament adopts the central bank's proposal that would be replaced by investments in other companies. and now we go to the big data in the financial and business world it's a term that many have heard but how much do we really know about big data with computers and technology data processing is moving fast as the speed of light and capturing and analyzing and even storing all of this big data is that entirely

that you want to give us some of the twenty years ones today well after a failed bad last month emerson electric has sweetened its offer to buy a rockwell automation emerson is now offering twenty nine billion dollars or two hundred twenty five dollars a share up from its initial bit of twenty seven point six billion dollars rockwell which is based in milwaukee is a six billion dollar company with over twenty thousand employees worldwide and emerson which is located in st louis has been trying since august to make a deal in the statement chief executive david far said we were main convinced there is a compelling strategic operational and financial merit to bring together our two companies however it's unclear when rockwell's board of directors will make a final decision. the number of americans filing for unemployment benefits jumped up last week to children forty nine thousand which is a ten thousand person increase from the previous week the poor weak average also rose by sixty five hundred however the overall numbers are looking strong for the past two years the level of unemployment benefits

mentioned a few minutes ago rockwell automation rejecting the unsolicited takeover bid from emerson electricay the bid undervalues the company and is not in the best interest of shareholders >> what do you know about this >> you know, this is -- >> this is not rock well collins. this is rockwell automation. is this a bear hug -- >> this was a bear hug of sorts. >> did we know about it? >> we did know about it. we've known about it for quite some time. >> i would say my read of that letter is pay a little more and maybe -- >> emerson may see the proposed acquisition as necessary to expand its capabilities in the industrial automation and information market rockwell did not we have the talent, technology, culture, and resources necessary to continue raising the bar, exceeding our customers' expectations and creating superior value for rockwell automation shareholders. it doesn't sound like they want a new offer coming back, but i guess at some point you have to always consider the higher offer? >> i think we could be hearing more on this >> users can interrupt their friend's dreams and ask to

emerson electric is withdrawing its offer. remember that proposal and emerson shares are up and rockwell also trading higher. rejectedpeatedly emerson's offers. as we head into this jay powell hearing, look at the bloomberg, just a look at the yield curve, which we have been talking about, the spread between the treasury market, along with the fed target market on the top and the actual spread around 57 on the bottom. this is something the fed obviously is going to be watching as it goes through the next several months and year, as you continue to have muted inflation but the expectation that the fed is going to raise rates. mark: first game in three or four european stocks. my new favorite function is wm , showing you how all of the various countries are faring across the european equity space. .9.ftse in london by energy companies gaming today -- gaming today -- gaining today. also, chinese macro data flowing home sales increasing the outlook for demand in the world's biggest user. let's get to that weather in the oil ind

. >>> welcome back time now for the blitz emerson electric withdrawing its bid to buy rockwell automation joe, it's yours. >> i actually think this is a good thing for emerson that this doesn't happen it was getting expensive and was going to be dilutive, something that happened a couple years ago with hoppywell and unit technology now you get visibility what's the capital allocation strategy and they have some coin left over from when ge begins to sell off the assets. >> alta is moving higher ahead of its earnings report on thursday. >> we cover the name at luke capital. got crushed back in june shouldn't have gotten crushed. pretty high at the store same-store double digit growth, any retailer wants to be in. mary dillon tend to underpromise and overdeliver and i think we'll get good news out of alta on thursday. >> arby's, rock capital group is set to buy buffalo wild wings, $2.4 billion josh brown, it's yours >> that's crazy. >> shocking. >> wow. >> shocking. >> so listen my first thought when i heard this news this morning was where the hell did arby's get $2.4 billion from but then

. >>> emerson electric plans to raise its offer for rockwell automation the new bid would be $225 a sharend stock for a total of 29 billion. >>> as the u.s. claims, military gains on the ground against i says, the extremist group is making gains when it comes to the digital world. joining us now is harun ulah from the broadcasting board of governors author of "digital world war. thank you very much for being here today >> thank you very much for having me. >> describe the problem. what's happening and how bad of a situation is this? >> you know, what we have is we look around and we think isis is on the retreat we see the pictures from syria and iraq they are make gains on the battle freefield that's most important to them, the digital battlefield. they are churning out content a day. this is a content war. it's the next war people are not paying attention to. you look around, you see these key influencers. and they're recruiting so they set up a david and goliath paradox where they can lose on the physical battlefield but win on the information battlefield. >> we heard situations, i geeu

emerson electric up more than 2.5% the company withdrawing its $225 per share offer to buy rockwell automation rockwell, also higher. >> thank you very much welcome. i'm tyler mathisen here is what else is happening at this hour i get the what else? otherwise known as the thanksgiving leftovers home prices gaining momentum, rising more than 6% year over year that is the fastest annual rate since 2014 seattle reporting the biggest jump home prices there soaring 13% from a year ago. potential new problems from wells fargo. foreign exchange bankers at the company were overcharging clients and albertson's striking a deal with instacart. michelle >> we begin this hour with the confirmation of jay powell president trump's pick for the federal reserve. steve liesman was watching >> it was fascinating. the more jerome powell spoke, the more thestock market liked what it heard. the s&p seems to accelerate to the up side as the fed governor, appointed by the president to replace janet yellen increased as he spoke. he danced around the mine field of the tax cut proposal. one area that could derail the co

few breaking in the last minutes, emerson electric said to boost its offer for rockwell automation to reports. emerson's new offer, 60% cash, 40% stock, rockwell gaining 4.5% in premarket trading. cisco systems forecast its first revenue game in best revenue gain in eight quarters. -- revenue gain in eight quarters. move for the company's toward services and software. cisco's hardware sales fell in the latest quarter. charles and david coke are backing meredith's bid to buy time incorporated. h' have agreed to support meredith bids. a merger could help both magazine publisher teams at up on ad sales. question that never goes away, the value, the business strategy, the tactics of a conglomerate. our single best chart today and we do that with kathy fisher. , the challengec mr. emil faced with the financial crisis and the rollover. kathy fisher, when are we going to get it right about single best conglomerates? we love to sell them and too many of them seem to go down in flames. brooke: the enthusiasm for conglomerates has waned and when you look at -- kathy: the enthusiasm for conglome

. >> coming in hot >> coming in way too hot block head >> except that buyout offer, while emerson electrichdraws its bid for rockwell automation, later on this hour, house ways and means chair kevin brady, we'll talk tax reform and push to get the bill to the president's desk by christmas. we'll see if the s&p 500 hits a record when the opening bell rings in 20 minutes. excuse me, are you aware of what's happening right now? we're facing 20 billion security events every day. ddos campaigns, ransomware, malware attacks... actually, we just handled all the priority threats. you did that? we did that. really. we analyzed millions of articles and reports. we can identify threats 50% faster. you can do that? we can do that. then do that. can we do that? we can do that. billion ex-debt. majority owned by roark capital and emerson has withdrawn the 225 share bid to acquire rockwell citing their unwillingness to engage in merger talks. >> 9:00 conference call, there may be more coming from emerson. i pointed this out last week in a faber report there was never a path in terms of being able to go d

emerson electric is withdrawing its $29 billion proposal to buy rockwell automation. ll continue to rebuff its efforts. emerson also round of announcing a $1 billion buyback over the next 12 months after it canceled its bid. and then it's the mergers. borat capital -- warwick capital is acquiring buffalo wild wings. it owns arby's as well as in a button the head of arby's will run the combined company although the bands -- brands will continue to stay separately. jonathan: we will get to taylor riggs. >> jerome powell isn't on a mission to shake things up at the financial reserves to in a statement he signaled to broad support for how the fed operates, regulates and guides the economy. have any expected to problems being confirmed. two republican senators are threatening to hold up passage of the tax bill. johnson bob corker say they may not agree to vote to measure out of committee today. that would jeopardize plans for a full senate vote this week. they have cited different concerns about the bill. i wish prime minister appears to have averted the threat of a new ele

rockwell for the third time rejecting emerson electric's bid. the last was $225 a share. ou something about the market stock. how many times can rockwell say no to emerson? is a deal the market never thought would happen anyway. for the broader market after two weeks u.s. stocks reach fresh record highs. tops 2600 for the first time ever appeared wall street bulls got more bullish. >> 2018, what we are expecting is 6% to 7% growth or returns. what we are seeing and what we are looking at, everything is expensive. 2.3, 2.4.r at tacking on and healthy -- tacking on a healthy 3% risk room you get healthy returns. you can get it 2018 solid growth at age percent, valuations are cheaper than you think where we see higher rates priced in meeting higher growth expectations not price 10. the upside case hinging on a corporate tax cut, which we still see as likely. in tact.ll market what we are looking for playing out in spades. very stimulative financial conditions. those are conditions for a bull market. that is what we are having right now. jonathan: joining us is the allianzo ma

coming up next, emerson electric sweetens its bid for rockwell taking its third proposal. have the details, next. check out tv go. click on our charts and graphics. interact with us directly. this is bloomberg. ♪ alix: emerson's plea to rockwell, upping the bid to 4.7% , to her $25 a share. the third try emerson has made. emerson down by almost 2%. joining us is at hammond -- ed hammond. is this going to happen? ed: probably not. this looks like a desperate deal for emerson to be trying to do. rockwell, not keen to sell. i just think fundamentally there is a big difference between what these companies do. culturally, how they see themselves. this would be a tough one to see happening. desperation on the part of emerson. a very small bump from where they were before. there's not much new in the deck . they got color on the slides but in terms of -- it is fairly thin. market says no. there are issues with this. emerson has a history of acquiring companies and not doing a good job of integrating. you can think of emerson as an old-line conglomerate. they do a lot of automatio

news this is rockwell, and also emerson possible deal rockwell, rejected third time offer from emerson electricway to go production of equipment software but just saying, basically rockwell saying you are undervaluing our company they have rejected several bids this in it as well higher this morning up 1.7% back to you. maria: thank you so much nicole petallides on the floor, tackle nfl protests league reportedly floating new idea to have all players remain in the locker room during national anthem next year would be a way around the protests by players outraged fans president said nfl it caning [new idea keeping teams in locker room next season during national anthem almost as bad as kneeling when will highly paid commissioner get tough and smart this is killing your league joining us host of "varney & company" stuart varney. >> you interrupted discussion in studio here, about how i would give my left arm to be 18 again for six months i'm sorry i digress i do digress who wouldn't give left arm to be 18 again when you get to my age join the conversation maria? >> i like where i am right now i d

emerson walking along the stage. he's set to go to the chief position. they will swear him in as the interim president of this country after 37 years under robert mugabe. you get an electrice atmosphere here. many have been speaking but this is a day they would never miss. they've been coming in buses, moving in on foot and they're coming into this stadium here, the national stadium here in zimbabwe and coming to witness history as you await -- as we await emerson mnangagwe. let's take a look. >> section 96, subsection 1 of the constitution. the former president of the republic of zimbabwe by written notice is notified the speaker of parliament of his resignation from office of the president. and whereas in terms of paragraph 14 sub paragraph 4b of the sixth schedule of the constitution, a vacancy in the office of the president must be filled by a nominee of the political party, which is a former president representative. and whereas in terms of paragraph 14 sub paragraph 5 of the sixth schedule, the ruling party has nominated emerson mnangagwe. [ cheers and applause ] >> as the party's candidate to assume the office of the president. and, whereas, in terms of section 94