i'll put that down for now the gilead call has been going on for about an hour, and nobody has gotten at the main question that investors have. which is with $36.6 billion in cash burning a hole in its pocket, what is gilead going to do with it is it going to make a big acquisition or not >> so you were seeing the stock up 2.5% after-hours. you can see here, that's that cash hoard growing over time, getting much bigger in the last quarter, still wondering if they're going to do big m&a. the stock is being driven by a big raise in the second quarter. hepatitis c sales coming in ahead of expectations. the hiv franchise also doing well the company raising its forecast for the rest of the year everything looking pretty good for gilead some analysts saying that a little bit of that hepatitis c beat was driven by inventory in the quarter, so is that really stabilizing or not, are the questions on the call right now, as well as comp fission for the rest of their franchises but gilead doing pretty well here, and we'll let you know if they answer any questions about m&a, back to you >> meg ter

gilead, meg has the results. >> this is looking like a huge second quarter for gilead, kelly, beatingjusted eps and revenue. adjusted basis coming in at $2.56 versus 2.15. revenue of $7.14 billion beating expectations of $6.35 billion. we always look at the hepatitis c sales numbers. those coming in after all three combined worldwide, $2.87 billion in the second quarter versus analyst expectations of around $2.3 billion. the company also raising it's full year product sales, guidance, to 24 billion to $25.5 billion. that's driven by both hepatitis c drugs and nonhep diet c drugs. a lot of news driving gilead higher call starts at 4:30, bring you anything more, kelly >> meg, quickly, i wonder if it's not a more outsized reaction because the challenges for this company are known, and it feels like all the investors would rather have this do a big acquisition. >> yeah, and if you look at the amount of cash they have, that's why they're talking more than $30 billion in cash at the end of the second quarter. the hepatitis c franchise has been lagging, growth is slowing. the fact that this

watch as well finally, ones that cowen expects to beat, look at alexion, biogen and vertex he said gileadad the most likely chance of beating earnings expeck tase, so a lot of stocks to watch and potential upside movers. >> if the camera panned over, would there be a luau going on or some zye deco performers? what's happening there beyond the confines of that shot? >> it's pretty quiet here. we've got some sea dos out there on the ocean it's pretty quiet here but there is a pina colada waiting for me after i get off air, o i'm going to enjoy that meg tirrell in key west, florida, where she is thinking about earnings next week those stocks sizzling in the summer heat. we are watching the ivb. professor kyle has a way to do it for less than $5. >> options are inexpensive and we have a lot of catalysts coming up and that could set up for a good time to buy a call. you're looking for situations where you have an identifiable catalyst you're looking for situations where the options are cheap. and, finally, this is the kind of approach you might want to use if you're looking for a stock replace

gilead inched up biotech has caught a bit that's okay. value stock.rulio, i like when the ceo bought all that stock lower. we have to wait to see the next quarter. twitter has snuck up out of nowhere, above 20. on no conversation, nothing. skyworks reported after the bell i thought the number looked good and apple. we're going to keep apple. we can't have all this tech. again, way too much tech this is the kind of thing that worries me we'll take skyworks out. we need keybank in there we'll take twilio out. let's keep twitter we've got to find out what the heck is going on i cannot tell you to sell it i like the action in it. and we've got the health care gilead if we had nothing but tech and didn't have so many other stocks, we would be killing it, but that's not the way we play it michael in maryland? michael? >> caller: hey, jim. my five stocks are bank of america, johnson and johnson, viacom -- >> we don't see a lot of viacom. let's go there to start. entertainment company challenged by the cable we're okay carnival, wow, what a quarter. royal car

and i think they're going to take some time 2018 is a better year for gilead, that's our call.y here. and people will come back to gile gilead >> great to see you, michael ye of jefferies >> it is, maybe you didn't know this, now you will hotdog day in america. national hotdog day is a hotdog, in a bun, a sandwich we agree that a hotdog outside of a bun is no sandwich. we're going to debate it "check please" is next i joined the army in july of '98. our 18 year old was in an accident. when i call usaa it was that voice asking me, "is your daughter ok?" that's where i felt relief. we're the rivera family, and we will be with usaa for life. at the lexus golden opportunity sales event before it ends. choose from the is turbo, es 350 or nx turbo for $299 a month for 36 months if you lease now. experience amazing at your lexus dealer. >>> here it is the video of the day, chris christie making a bear-handed, one-handed catch of a foul ball at last night's mets game he then got booed. then handed the ball to a young fan. i believe he signed it and handed it to a little boy. christie m

you're going to get that breakout >> the gilead chart is very interesting. that's been a name with pete through low 60s. now you have it in the low 70s it broke that long-term downtrend like you mentioned why is that a trading stock and not a -- what would make you kind of get off the trade on the long side, if it broke that downtrend km >> i think the only thing that gives you reason for pause is how pervasive that downtrend has been it's not typical that you see a chart with that well-defined downtrend, just have that shot out of a cannon and just go straight higher. it's happened before, of course. so let's just say, i'm warming up to the idea and i think as the stock shows you something after once again year 18 months, two years of doing absolutely nothing, trailing the group on a yae year-to-date basis, let's see that relative strength start to pick up. >> rich, good to see you >>> still ahead, wynn shares sinking in the after-hours follow its earnings report it is one of the hottest stocks in the s&p 500 this year we'll hear from the company's ceo and

starting to make really big moves off of well-established bases soy just want to point out, too, gilead is one. this is a name that was cut and a half, a large cap biotech, could not find a friend. now it's running, it's running fast tons of room to the upside not a lot of overhead supply here the other one is secelgene, whih quite frankly looks absolutely amazing. take a look at the xbi, this is equal weight biotech, not biased towards the megacaps that i was just talking about they're all about to go. this is a two-year consolidation being broke into the upside. it would be great to see this group now take the torch, so we're not just talking about fang so we're not just thinking about, you know, those tour names that we obsess over. >> so, mike, how does a strategist look at a week like we have right in front of us, you know, 13 dow components, 180 s&ps coming out next weak. this could be, i don't know if you say a make it or break it week, but it's certainly going to confirm a lot of stuff if these things come in well. >> if i'm a strategist or pm, this is what you've been waiting f

northrop grumman all reporting before the opening bell and after the close, facebook, pay pal, samsung, gilead, whole foods. new home sales are out at 10:00 a.m. and the fed does wrap up its meeting. a statement expected at 2:00 p.m. eastern not the news conference with janet yellen and we're not expecting any change in interest rates, but we are expecting language change to indicate when they will start to shrink the balance sheet. next interest rate increase is set for december according to the futures market and yellen still being considered by president trump. meantime earnings are in focus chipotle shares moving higher. landon dowdy joining us with more >> good morning. chipotle reporting better than expected earnings last night, but revenues a bit short and same store sales missed estimates. the chain has been trying to earn back customer confidence after food safety issues in recent years, but it's stock took another hit last week after two people contracted neurovirus at a chipotle in virginia. the company ceo confirmed the outbreak was the result of an employee coming to work sick add

. >> caller: my question is about gilead science do i hold, sell or buy more? >> the stock down here, diana, it's too low but i have to tell you, it's not one of my faves. i like growth, and they have no growth and they didn't use all that cash to go buy some, which is what i've been saying they should do. let's go to alex in florida. alex >> caller: boo-yah, jim, how is it going >> good. i'm trying to focus on some of these down and outers. but don't want to get sucked in. what's up with you >> caller: great, man. i just wanted to get your take, i'm looking at the diversified portfolio. agr, wanted to get your take on them. >> what i want to do is do a takeout on it, because, why? because it's unusual to get all -- although what happened to arg, there may be more to it than i think 4% yield let me do some noodling. all right. i trust this market. and today should have given you a reason to trust it as well invest your snapped-up stocks that were left behind. and that's always the sign of health, not of weakness. i feel like you have a case of the mondays. not

one of our largest holdings in the states -- we have been adding too, is gilead. multiple in earning today, and related to things going on within their business. health care broadly has been a big trade about regulatory risk, what will happen with the regulatory environment. our viewpoint on that has been we do not know -- we do not own too much in biotech because rice's might come down in the future, but it is really hard to get legislation done. even when republicans controlled senate, congress, and the presidency, they cannot agree on legislation for health care. inrlet: so is there a sector health care that is safe at this point, no matter what regulation we see? >> no, probably not. we are try to find that but it is tough. there is some small chance that if you get enough of a backlash against republican moves to cut insurance coverage that the democrats take out the mantle of socialized medicine. we need to think about some small chance of socialized medicine, which would be tough for every publicly traded company in this space. >> we were talking about the

gilead should have bought them this is remarkable and just hearts go out to these people. what a horrible disease and it's been, people so tough to try to cure and people who are so dedicated to trying to cure it so let's hope. >> let's hope. >> we did mention one of the larger m&a deals of the morning. in fact the largest one because it's a purchase of a private company by a large public company. crown castle which is the largest operator of wireless towers and small cells in the united states is buying light tower. 7.1 billion in cash. take a look at shares not being used here as the currency to purchase light tower which is a private company. a lot of other investors as well they're saying it's 13.5 times adjusted during the first full year of ownership so they may be already adjusting to a certain extent the multiple based on synergies they're going to have. it's a share but it does increase their exposure to fiber and it's a little bit more capital intensive. you can see those shares are down by 3%. >> obviously with the competition among the carriers american tower h

of gilead, john martin, became a billionaire because his drug company charged $1,000 a pill for civaldi, a hepatitis-c drug that costs $1 to manufacture and can be bought in india today for just $4. in this country, sold for $1,000 a pill. and he became a billionaire as a result of that. that is a health care system out of control. and again, our job -- i know it's a c.d. idea here in the united states senate, but maybe, just maybe, we might want to represent the american people and not the sea's of the drug companies and the insurance companies. mr. president -- madam president, some of my republican colleagues have been spending the last few days using words like freedom, choice, and opportunity to try to convince the american people about their abysmal health care legislation. this is the same language that right-wing ideologues like the billionaire koch brothers use when they try to discredit government programs and move to privatize them. what the koch brothers mean by freedom is their own freedom. and by the way, they are the second wealthiest family in america, worth some $80 bil

those companies thought to have included perhaps at some point, a gilead, perhaps a bristol-myers orven a roche. a number of other companies as well not necessarily astrazeneca or pfizer that are moving on their own in oncology, but it doesn't appear to have met what were the price expectations going in, as you take a look at donald trump and i think macron there i did wanted to get that out there on the market place on tesaro >> astrazeneca, there was a lot of talk that ceo might be going to tenna that's big i thought astrazeneca had the edge a company would buy this company if the ovarian cancer drug is as great as some thought. >> it's thought of as a strong drug >> but not strong enough to be able to merit a bid? >> you're talking about a potential premium above a $7.4 billion market value and then i'm also told there was an in the money convertible you have to include. you go from 7.4 to 9, but really closer to $11 billion. that is a big number, what they may have wanted. >> will any of these shift and take a look at insight pharmaceuticals? >> i don't know. but i think it's the

but we'll get that before the opening bell and then we hear from facebook, gilead, whole foods after the close. and viacom looking to make a cash bid discovery also said to be bidding but not cash offer scripps family wants 50% of the deal in cash and the deal could come soon. >>> president trump says that apple ceo tim cook promised to build three big plants in the united states. trump made that comment in an interview with the "wall street journal. apple doesn't do much of its manufacturing, but one of its major suppliers fox con is expected to mike aun announcement about u.s. based manufacturing as soon as today in other news, president trump giving mixed signals on who he height pick to be the next fed chair. the president said he might renominate janet yellen to a second term, but is also considering gary cohn. trump said yellen has done a good job he also said he likes her because she's a low interest rate person. the president said he would likely announce his peck at the end of the year. >> if i remember correctly, he hated low interest rates for a very long time >> no, he ju