there it is. >> gilead. >> gilead is notable today because it is down >> gilead is like -- gilead isand what people fear is going to be like allergan with botox. >> gilead, high class problem for a while. an incredible drug, cured people of hepatitis. >> terrible thing to say, please don't take this the wrong way, but the pharmaceutical business wants chronic illness. they don't want to solve this. >> or you want something like high cholesterol, you take lipitor for the rest of your life. >> right. >> that's an incredible drug, unlike gilead's key therapeutics that were very expensive, but in a matter of weeks, cured a horrible disease. >> you sell the stock? that's what's happened advi is going to come on -- they got biosimilars all over that thing. >> let me put this in perspective. >> sure. >> gilead, chronic hepatitis c virus product sales, eclusa, harvoni, savaldi, they got a lot of them, $738 million in revenues for the fourth quarter of '18 compared to $1.5 billion for the same period, so down by half >> yeah. >> which is great, because it means the population of patients obvi

back to you. >> thanks. >>> mark, what do you like about gilead or not like >> i don't like much at all. unfortunately sales have been declining since 2015 i think a lot of people were expecting 2018 to hopefully f ffo for gilead be a drop their hiv franchise might be peaking. what they need to do is transition more towards cancer and diabetes they have a new ceo in place who could help them with that transition, but i think that's where the future is. >> i think that new ceo is running out of momentum. stocks running out of momentum when you look, i always choose to invest in ibb over the individual stocks. ibb slammed from october to december down 27% up 14% year to date. outperforms the majors i would stick with the ibb versus buying the stock specifically. >> and then xbi, which through the big run up outperformed the ibb and has underperformed if you really want to embrace this as a theme, you want to go small, higher. >> what's interesting is it topped out at 100 and went down to 65. to see a weighted index move like that in such a short period of time, now back at $85, it looks l

at one of the worst performers on the s&p 500, and that is gilead sciences.otech company falling today after the company said a drug to treat liver disease failed. not good. still, the company is committed to finding a drug to treat the conditions. it is not coming through its own trials of drugs.it must be looking at dealmaking, which is maybe why we are seeing the reaction in its two big rivals. viking therapeutics popping. interest of pharmaceutical falling. analysts saying it is viking therapeutics that could emerge as the prime m&a target for gilead. >> it is honest happy hours a good time to start talking about beer, but not a good time to be owner of molson coors brewing today. shares down about 9% for the worst drop since last may. this is after the company reported fourth-quarter sales of $2.42 billion, which fell short of the $2.54 billion that analysts expected. the company announced it would have to restate results for 2016 and 2017 because of his treatment of deferred tax assets. but it is the continuing story of week volume growth. volume's slid

. >>> later, earnings of alphabet, gilead and seatega technologies." back after a break. ♪ >>> welcome back to "closing bell." let's check in on individual market movers. tesla to buy mechanics calle technologies and all-stack deal. the company makes ultra capacitors and store and deliver energy quickly analysts say it could be a way to reduce making electric vehicles the shares fractionally higher i talked to people about this how the innovation that tesla, one of them, far ahead of the ev rivals, battery technology and not need to charge so often, i was wondering whether it was a worrying sign as if their own innovation now lagging i think that this is a - >> speeds it up. >> small acquisition to keep them ahead of the curve and even though some people caught up and competition is higher than it was, the general level of innovation and technology for tesla apparently - >> really did your homework. >> you will that capacitors. you knew that already. >> i don't know the word. >>> chlorox jumping. the company also reiterated the full 2019 joutd look an

. >> gilead. i've held gilead for a few years now and it's been pretty much of a disappointment despite the fact that they developed a cure for hepatitis c, the stock went up right after that but it's been on a downward course since then to the upper 60s and their fourth quarter, they missed on earnings and their guidance for 2019 was not inspiring and so really my question is is there any foreseeable catalyst >> yes, there is i'm so glad you put it that way. those kind words make me blush i come out here every day and i try to figure out why do i come out here every day because of people like mike in florida. mike, they've got a new ceo, daniel o'day that is the catalyst company's got a good balance sheet but it better do something with that cash because you're sitting on that cash and paying a 3.7% yield that ain't working i put it in the same camp as abve and celgene we're getting near the end of earnings season. it's been a blast. try the luck here. "mad money" tonight. columbia sports wear is

shares of gilead, they're down today. down about 3.8% after the company reported negative results from a late stage clinical trial on a drug to treat a form of liver disease. gilead said patients did not show marked improvement over those that were just given a placebo. >>> fourth quarter revenue grew by one-third beating forecasts the maker of cloud-based business phone systems and software saw strong growth in the midmarket and enterprise business this now issuing upbeat guidance for the first quarter when it comes to revenue and eps >>> shares of chegg surging this morning. up more than 10% the services fourth quarter results that easily beat forecast the company is also raising its guidance for the current quarter and for the full year. back over to you >> good stuff there. good day for chegg investors >>> can you not afford maybe a peloton exercise bike? well, don't worry. you might be able to buy the stock instead soon peloton reportedly one step closer to going public the "wall street journal" says the bike maker a

i think that this commission needs to put the high price of gilead's drugs on the agenda. you are paying out a fortune every day to get the hepatitis c cure and provide it to people in the jails. i don't think it's okay that you've not had this as an agenda item. and that can be changed going forward. the last matter has to deal with commissioner dan bernal, who as we all know is pelosi's district manager here. we need to have you holding public meetings in the evening. your boss cannot hold town hall meetings. okay, i understand that, but your duty as her representative, pun intended, is for you to hear public comment at meetings you organized, regular monthly town halls with you. if you have enough time to serve on the health commission, you have enough time to put on biweekly, if not monthly, town halls to hear from mrs. pelosi's constituents. right now you are not hearing about how constituents want the green deal embraced by mrs. pelosi. is that the timer? >> secretary: no, you have about four seconds. >> four seconds. so, dan, get with the town hall meetings, please.

. >>> also to watch, gilead sciences, fourth quarter profit falling short of analyst foeshs.ales of its flagship hepatitis c drugs continue to slide. the company also highlighting some potential risks that could impact results this year that includes generic competition and demand for higher discounts on its hiv drug gilead also lowered this morning down to 4% the company's guidance for the quarter coming in well short of estimates. that stock down about 5.5% this morning. let's get you now up to speed on what is happening in the broader markets. we we want micro let's go macro take a look at stock futures they're up decently. we had a big gain yesterday on the dow. 175 points a little follow-through. dow futures up 49. nasdaq futures are slightly down, but on a fair value basis. because of the lunar new year, you have stock markets in china, hong kong, taiwan, and south korea are closed in fact, china is closed for the week we did see japan trade slightly down australia, new zealand, and even bombay all higher. in the european trade, a lot more green on the screen as well in

. >>> gilead sciences was downgraded t market perform from outperform at wells fargo. the analyst cited a lack of growth catalyst following a recent drug trial failure for the company. price target now is $68. that stock fell tay to $65.40. and surgical equipmentmaker nuvasive was downgraded to hold from buy at jefferies. the analyst there says he's skeptical of the reports that smith and nephew is ready to make an offer for nuvasive, and even if it does, the analy thinks a bid above $60 a share is not likely, and so the firm cut its pri target to $60, but the stock still rose on that takeover chatter.p it was 3.5% today to 8.. >>> there are a record number of job openings. the labor department today reported 7.3 million opens, positihich is the most since the government started tracking that data in december of 2000. economists say the report shows that employers expecan d to remain strong. the number of job openings is also much greater thannuhe er of unemployed, which totaled 6.3ilon last month. >>> and while the labor market remains strong, economic growth is still

gilead sciences down 3%. at what's take a look is happening in the u.k. and around europe. we are getting a bit of a bpp spike. befar as i can tell, it may having to do with the e.u. mandating a 30 year bond. yields are higher in italy. the pounds moving lower. that had an impact on the ftse 100, two legs lower for the cable rate. with the week services data we had. had.ak services data we average isay moving a significant point. ftse 100 down by 1.7%. we just had a red flash on the bloomberg. company isement considering auctions for its middle east and africa unit. we will see with the share price reaction is, in a moment. vonnie: president trump is set to deliver his second state of the union address to a joint set of congress. investors will be keeping a watch on a range of critical issues from trade to courseructure to of immigration. meredith sumpter live from our washington, d.c. bureau. what town will the president go for? meredith: he will have to strike more of a balanced tone. is thete of the union starting point of the 2020 campaign, so you have 2020 on the horiz

gilead reporting earnings beating on revenue but the shares have fallen in after hours trading.he estimate was for $1.70. the company is using their and providing a forecast for product sales that came in slightly above analyst estimates. caroline: coming up, more to come on the bond part of the equation. ill gross has announced his retirement. he has all the details on his final act, his legacy, and much more. that's next. this is bloomberg. ♪ caroline: time in a -- for a look at the story streaming across the bloomberg. bowl was theer first one after sports betting was legalized outside nevada. the spending could keep the bull market of float might not come .rom consumers reporting that economist may see spending from states and cities and the trade war staving off a recession. the most in 2.5 years in the third quarter. in the chinese calendar begins afresh tomorrow, ushering in the year of the pig. tictoc on twitter has a guide to the do's and don'ts. do where already and give out red envelopes with an even number of bills. don't cut your hair for a month or you could lose y

>> gilead.a in the second half of this year they've got the balance sheet to do it. i think they will. super cheap stock. >> sirat >> equinix i think goes higher. >> you're not worried about overdata center capacity >> no, they're a collocation facility, very specialized in the reit space. >> i just wanted you to say collocation. jon najarian >> cvs a lot of upside calling today. during the show i have an order in that i'm trying to buy right now. >> thank you for making it easy on me. i appreciate it. that's it for "halftime. "the exchange" with kelly evans begins right now >>> thank you, brian welcome, everyone, and here's what's ahead this hour a meet york rise the major averages are up more than 18% since the christmas eve lows, 18%! are there any bargains left? our guest still finds plenty. >>> plus, shaking up our retirement system. is it time to refresh, maybe reinvent the 401(k)? we'll tell you what that could look like. >>> and an executive shake-up. if you want to know what may be next

well, you no he what i've been, you know i'm long on gilead i'm getting impatient with that we movedide. we're waiting for some moves and buy them and throw them in the drawer what do you think? >> i think it is a bottom feeder there. i like this one more than tyson. it is a $5 billion company i go with you on that one. i mean you had to think about that let's go to stewart in new jersey. >> hey jim, how are you? >> i'm good. how about you? >> i'm great i've been an action alert member for a year now and it's been real well. >> thank you, man! we help on to that facebook didn't we? what's up? >> yeah. i want to thank you for canopy i took a cue from you. i name my rescue dog canopy. >> out there trashing the canopy and cannabis sector. canopy has the stock >> i'm up 40% on. that thank you mr. cramer. >> yes, we want to help people make money how can i help >> i'm interested in kem >> sure. you're interested in that. >> well, thats an inexpensive stock. i'm going go with you. it's a very inexpensive stock. after the cohorts moved up how about the way that they nail the smh on tuesday

gilead says that patients who receive the drug did not show improvement marked improvement over thosewere given a place placebo. ring central was higher today after its fourth quarter revenue grew by one-third beating forecasts. it issued upbeat guidance. and shares of chegg up 10% surging after the provider of on-line education services reported fourth quarter results that easily beat forecasts the company is also raising is guidance for the current quarter in the full year on aup bowl every bow, you wouldn't get that, would you >> i would be stuck for a while. >> i don't know if chegg is a word >> i was thinking -- i wasn't going to say it because i didn't want to, you know, again show any ignorance, but -- >> is it >> no, i don't know. exxon put in a computer. >> i think i've asked him. we'll try to figure out if it's a word, but separately, marks moving on the big story this morning. lawmakers reaching a tentative deal to avert another government shutdown we will get a live report from washington first, perks of going digital. helping brands dwom their presence on your smartphone.

we investigated a lot about gilead's pricing decisions for hepatitis c drugs. during that investigation, we acquired a document that listed some factors that gilead considered when it priced those drugs. those factors included the risk of "public outcry." or, the likelihood of a letter from congress. or the likelihood of a congressional hearing. taking off from that point, and very simple questions to answer, i think, i want a yes or no from each of you. when your company prices it's a drugs, do you consider the risk of negative public opinion in the pricing of that drug? can you answer yes or no? >> yes, we do. >> yes, you do. ok. >> yes, we do. amongst all the factors, but we do. >> yes, we do, among many factors. >> johnson & johnson? >> yes, we do senator, as well as affordable access to the medicines for the patients. >> what about merck? >> yes, we do, among other factors. >> ok. what about pfizer? >> yes, we do, among other factors. >> yes, we do, among other factors. >> thank you. another yes or no question. when determining list price, do you consider

downgraded ation --ls fargo desk billion gilead downgraded that wells fargo. equal weight at morgan stanley. at wells downgraded fargo. downgraded to equal weight at morgan stanley. finally, take two downgraded to underperform from market perform. the price target cut to $80 a share from $119. lackluster game sales have finally caught up to take two's valuation. scarlet: republican senators are speaking to reporters about the .urrent shutdown talks also in washington, president trump set to meet with andrew cuomo in the oval office. the two will discuss the state and local tax deduction, a change to the tax policy that limits how much taxpayers can deduct from taxes -- we are joined now by bob menendez from new jersey. thank you forez, taking the time to speak with us. legislation --ed why now when the senate is fully controlled by republicans? how far can it get? >> the house is controlled by democrats. my colleague in the house sitting on the ways and means committee and the senate finance committee have joined together. i'm looking forward to them being abl

gilead scientists, off more than growther projecting no for all of 2019. vonnie: taylor riggs, thank you. bill dudley, the former president of the new york fed has a message for the markets, stop worrying about the fed's balance sheet. wrote, the fed's effort to shrink its holdings have been blamed for various ills, including decembers stock market swoon, and any nuances that follows. amazed and baffled by this. it gets much more attention than it deserves. joining us to discuss those comments is jeanna smialek, who comes to us from washington, d.c. why is he so surprised by this? don't the markets need clarity on whether the fed would be using this as a tool? he doesn't think jay powell gave the markets a lot of surprising information at the january meeting. he makes the point that while jay powell told markets that the fed is going to keep operating with this floor flame -- framework. to run a require them larger balance sheet going forward. that was not totally unexpected. he makes the case, something that markets already knew. this idea that the fed is

gilead plunging.disappointed in the data but remained committed to advancing therapies for patients with the disease. shares of amkor sinking 6% the company forecasting first quarter net sales that imply a 15% drop year over year. the apple supplier saying in a statement that the outlook reflect, quote, an inventory correction currently under way in this smartphone market. colgate naming noel wallace the new ceo. it's part of their long-term session planning. >> thank you quick note on colgate. the current ceo has been for a long time. stock up 100% since then outperforming p a& g. the toothpaste which was growing so fast in emerging markets but facing competition from new upstarts that do the more natural thing. >> the ceo has been there since 1987 he used to run the toothbrush division so maybe he's prepared. >> going internally. retailer foot locker has made the largest investment in its history. e ead we'll talk to the ceo of thupstart that lured that landmark deal. thing, i mean you're still blat

meanwhile, gilead's fourth quarter profit fell short of forecasts. its hepatitis c drugs continued to slide the company also highlighting some potential risks that could impact results this year, including generic competition and demand for higher discounts of its hiv drug. that stock down 4% seagate is also down sharply the maker of data storage products reporting second quarter results that beat forecasts. the company's guidance for the current quarter dame in well short of estimates that stock down more than 5% it's been a tough area of western digital and seagate having a hard time >> president trump set to deliver his state of the union address. tonight at 9:00 p.m. eastern time let's get to aemon javers in washington here's a preview of what to expect >> good morning, becky better late than never, right? you remember they had trouble getting state of the union address together during the government shutdown. now the president will be able to deliver the full dress state of the union in the chamber on capitol hill let's start with what we don't