icahn's view does not represent those ofgn s other shareholders.coombs has been following lee drama for us. >>> carl icahn c cigna's megade megadeal a $60 billion folly. the activist investor when has taken a stake in cigna is urging others to vote against the deale arguing that insurers paying a 50% premium for express scripts at a time when the pharmacy management business model is under siege from regulators to the secretary o health and others who have been critic of confidential rebate agreements which allow the pbms to secure discounts from drugmakers. icuen also a that amazon's entrance into the pharmacy business recently acquiring pill pa will also dermine the deal. in his letter icahn warns purchasing express scripts will be one of the worst blunders in corporate history, up there with the time warner-aol fiasco and general ectric valued destruction. icahn believed cigna would be better off building its own pharmacy unit and returning cash to customers. does she argue said it would be better for cigna to build a pharmacy with enough scale

icahn.ompetition you expect here from amazon forming in terms of what it will mean for this combination. >> there's no doubt the marketplace continues to go through evolutionary change at a minimum. we've continued to invest heavily in innovation. we've poured about 3/4 of a billion dollars into our technology, capabilities, et. cetera to broaden our direct to consumer reach, our partnership capabilities with a physician community and health care professional community as it relates to amazon, it's another example of change in evolution. they're entering the mail order pharmaceutical fulfillment we see that. obviously we anticipated that action our a company is able to create better activity for a individual or patient with their physician to enable them to either maintain their health, lower their health risk, 25% of americans have high health risks. and then getting the best acute care we see this in as a changing marketplace. we're well position the and even more effectively positioned to

icahn's point.rish: he also made a point in the letter, that the industry itself is changing so vastly and so quickly and there is the potential for so much disruption, which he thinks will rightly so, and this is what we like about capitalism benefit the american consumer ultimately. >> that is what matters. trish. that is why i'm wearing red, white and blue on my shirt. we believe what is right for all of us, regular guys out there -- >> let me give you another example. announcement for cvs, cvs pharmacy, is now going to start offering you, me, everyone, the ability to actually communicate with a doctor that is provided by a company called teledoc. the ticker is tdoc. if, for example, you have a rash, if you have a dog bite, something that doesn't necessarily merit going to the emergency room but you need a doctor to look at it, you get on your phone, hit the app, all of sudden you're communicating with the doctor. let me see the rash. you put the rash on your face here. oh, i can see that or he o

icahn and mr.hat's more than zillow has. >> maybe carl should be more focussed on this. >> we hit a new 52-week high at least on disney. cracked 117. we have earnings tonight the discussion, as we said yesterday, about espn plus but what they're calling disneyflix it would be competitive to netflix. and the added wrinkle of katzenberger's new tv. disney has a piece of that. >> alibaba is an investor, as well. >> disney keeps moving up into the print. >> i know. >> i think there's a feeling it's their time. what i find interesting is amazing is that i believe the discussions is going to start around the theme parks and movies believe it or not, that's been completely ignored once things start going, we'll talk about these franchises again. we won't think about solo. we'll think about solo as being a saw. >> star wars land in orlando at disney world is not that far from going live. >> it's going to be. >> good luck getting in. >> yeah. >> when is that going live >> mid '19. >> wow. >> nobody cared ab

icahn is on to something. i think the real play is i've been wrong for a while and cigna is too cheap on valuation. the stock got crushed earlier this year and if you got etna close to 18 times and you have to love cigna. in terms of a value play, i think it's cigna all the way >> okay. >> that's it you don't want to ask, pete, karen or steve >> i was wait for example someone to offer something up and there were crickets. >> crickets. >> molina, humana and a giant in the space and u.s. cigna probably would trade up. >> right reports icahn could shake up the cigna express merger sent the options market into a frenzy mike ko out in san francisco with more. >> we did see four times the average daily put volume in express scripts. some of it was interesting because we did see a buy of over 4,000 of the weekly 79 puts and that was before this news came out. those are obviously profitable already and we saw about a thousand august 70 puts which, obviously s an indication that the stock is going to be going lower aft

they had the activists in there, icahn, corvex, the strategic review from the board. the conclusion was let's hand the keys over to travis stice at diamondback. and this company has cheap valuation, so you could see the exact same playbook that you saw yesterday after this deal hit. >> we're watching everything in the space. mike kelly, appreciate you getting up early for us. time for the top trending stories. what will you be talking about today? contessa brewer knows. >> a breakfast alert a new report found traces of a weed killing chemical in some breakfast cereals. it's the same chemical that is found in round up. 45 products were tested. 31 of them had traces of this chemical at levels some

icahn remains the deal is wildly overpriced. shares of silg nah and express scripts rose.losed at 185.30. express scripts at $86 even. tea's boardamed a special committee to evaluate taking that company private. is follows recent tweets from ceo and founder elon musk who said he wantso take tesla private at $420 a share and that funding was, quote, secured, but there are reports that the sec is looking into tccuracy of musk's statements. shares dropped more than 2% to 347.64. w the fbi isning banks about a potential worldwide atm hacking scheme.co ing to a cybersecurity blog, hackers can use malware ta acce bank or payment card processor to steal data and then use thatle s information to withdraw large amounts of cash from atms worldwi. charles henderson is the global managing partner with ibm xforce red a team of hackers who help companies uncover vulnerabilities in their own security systems. >> thanks for joining us tonight. >> thank you for having me. >> is this a new vulnerability we're heariut? what do you make of this warning from the fbi? >> so at its core, the fbi

good morning, tracee. >> leo buster carl icahn will vote against $54 billion acquisition. he reportedly believed he's paid too much. shareholders are scheduled to vote and icahn would need to get other investors on board but don't investors would vote the deal down. cigna report earnings before the opening bell down more than 11% so far this year. lea: how a is cbs moving forward with the investigation into his ceo les moonves. >> two offerings into the misconduct allegations about chairman and chief executive les moonves, cbs is another cultural issues that appeared in the company also said the board has a special committee to help the investigation and les moonves will have no role in it. it reports earnings after the closing bell today. shares are down more than 10% so far this year. let's talk about parent. they are apparently hiring a tutor for their kids, but it's a very controversial thing they're doing. >> a higher math tutors can i piano teachers. now they are hiring coaches to make their kids better to video game which has become extremely popular in the last yea

icahn telling cnbc the crossover was too big.en what the advisory firm said, we realized there's no way we could win shares of cigna unchanged. express scripts up fractionally. >>> now back to that developing story out of london where someone crashed a car into pedestrians outside of parliament >> good morning. we have a developing story out of london. a car has crashed into the barriers outside of parliament prompting a large police response police say the driver was arrested eyewitnesss say the car hit several cyclists, but police reported no life threatening injuries authorities have now closed the westminster subway station. >>> the largest wildfire in california history claimed another life a firefighter from utah has died so far that inferno composed of the ranch fire and the river fire scorched nearly 350,000 acres. >>> family and friends of aretha franklin are rushing to her side after reports that she is gravely ill in detroit the 76-year-old is in hospice care at her home she has been battling failing health the last fe

carl icahn taking aim at the deal to buy express scripts.le ground ohio a gop stronghold district facing a close challenge from a democrat in a race that's being viewed as a bellwether for november we'll break down the race as the final hour of "squawk box" begins right now ♪ >>> live from the most powerful city in the world, new york, this is "squawk box. >> good morning and welcome back to "squawk box" here on cnbc i'm andrew ross sorkin with wilfred frost in for joe kernen today. beck is off as well. the dow looks like it would open up 81 points higher. s&p 500 up a little over five points nz dak looking to open 15 points higher let's also show you treasury yields right now the 10-year as we flip the board around at 2.951%. down from the 3% we saw briefly last week. you want to tell everybody about the 10-year yield you were looking at >> the turkish one crossed above 20%. the lira had started a little bit of a rally earlier today but that's abated and back to sort of bad news and bad market moves for them it's been a torrid time. but yea

icahn may believe he will have some support.en telling me, listen, first there is significant overlap in holdings of cigna and express scripts so if you are making an argument, cigna should be paying less for express, well, it's one pocket to the other. secondly, jim, they say, listen, they're paying less than express paid for medco on a multiple basis. when you read the s4 in the background of the merger, express was citing $1.5 billion in synergies when it was already going for a high price express put out notes last night, was well received cigna's retention rate to 98% on the strength of both commercial and health plans their customers paid 1.1% more for drugs this year than last year that's half the rate of inflation. so there are plenty of people who say, i don't quite get why you would be opposed to this deal, you'll save plans on their medical bills, a high retention rate, they are being successful in what they are looking to do, a faster growing company with a better business mix and they've put up the numbers over time

the deal could hang in the balance was carl icahn has no faith in the merger. look, icahn admitted when he talked today that he probably can't block the transaction. he accepts that the shareholders are going to approve it. but he took the extraordinary step of actually using a scatological term to describe the deal itself. normally only use that kind of language publicly when he is arguing with guys like bill ackman i think it is wrong because cigna is paying way too much for express scripts. i have to admit i too was skeptical about the transaction and thought it was going to hold back cigna's stock i still believe cigna's shares will be higher than they were right now if the company weren't making the bid that said, we had cigna ceo david cordani on in march and he convinced me the deal will allow him to reach far more customers. i can't help thinking that longer term -- not right now -- but longer term, the combination could be fantastic and cigna's merge were express scripts would produce a higher price stock down the road, not today but down the road. car

rowe price will go against it but it's an uphill battle for icahn. which we are expecting tomorrow along with the other bloc proxy advisory services. many think they'll be able to squeak by in terms of the vote >> they did put out that aka outlining the merits of this deal in this case, this is the way the industry is going, people are looking for more integrated of benefits of both medical benefits and the pharmaceutical benefits and also looking for them to break out and cut out some of that middle men fee to make it a little more efficient. >> exactly they were coming out in part i guess to address that rebate question that iss may have even been raising in relation to the cost of express. donna, thank you >>> when we come back, a lot of big earnings reports to get through. adidas and roku are reporting today. we'll check in with anthony wood the ceo in a moment as the dow is up 4. don't go away. hi i'm joan lunden. today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming poo

>> what we're hearing is that icahn is opposing the deal.ast year, there has been a bunch of deals and health care and all of the companies are trying to gain in different areas of the supply chain and reposition their business. if the deal did not go through, to people feel cigna has to buy something or that there is pressure on them to build out? >> we're definitely seeing a lot of consolidation. the question for them is are you a buyer or seller. solved to anthem and that deal fell apart. cigna went out to get another deal and investors were not thrilled. i think there are some folks that would like to see cigna sell themselves. there has been a lot of consolidation and they can reduce the pull of potential buyers and lose outthrilled. there julie: it be interesting to see if icahn pushes to sell cigna himself -- itself. scarlet: zack, thank you so much. is time for the bloomberg business flash. fidelity is fighting the latest shot at a price for over priced mutual fund fees. they will offer to funds with zero fees. this will be as an int

glenview capital taking on carl icahn.supports the acquisition of its script going against icahn's push to derail the deal. the company actually is paying a cheap price for the pharmacy benefits manager. that is your business flash update. scarlet: we have another bloomberg exclusive coming up a we will be speaking to the ceo of party city as he discusses his new strategy for growth following a mixed earnings report. some of it involves may be teaming up with amazon. from new york, this is bloomberg. ♪ berg. ♪ ♪ from bloomberg world headquarters in new york, this is "bloomberg markets." i'm scarlet fu. julie: i'm julie hyman. let's get to first word news with mark crumpton. nafta negotiations resumed today in washington at the office of the u.s. trade representative. imminent,deal is mexico's economy minister says there is reason for optimism. come to a new meeting with review. if we are resolving the remaining issues, and we still to advancemmitment to the solutions that are required. mark: canada is expected to rejoin ta

icahn is planning to do. on cvs and aetna, their reaction has been considerably more muted.wng it and that deal is said to be anticompetitive and the justice is urged to block the merger. antitrust action. we will see what happens with that particular case. this is bloomberg. ♪ this is bloomberg. ♪ >> joining us from oppenheimer, good to see you. give me your impressions on the earnings season so far. we also have big outside reactions to the upside. what does that tell you about sensitive around these countries and where people are trading them? in earnings -- on many names, a lot of crowded long stocks, a little too anplacent, so we are seeing inverse reaction where fundamentals might not have changed. obviously, facebook got started, we got that name specifically had of itself. earnings look ok. names are getting sold and there are a lot of questions about what is going on. it is a case of positioning all sides here. exposures in general with risk back in play. extremely subdued. that is what volatility is trading on. . more and there are a lot of questions about what is

my exclusive interview with carl icahn. so don't go anywhere. i'm trish regan. "the intelligence report." ♪ . trish: also this hour, home depot cofounder ken lange phone joins me on set with his brand new book titled, i love this, "i love capitalism." he will explain why democratic

it wasn't ackman i think carl icahn makes the game exciting.can you refer to his game this is nvesting, this all about college endo iments and you really can make it a game. >> yes. >> but look i think that carl, i think he knew he didn't have the votes. that's not what you go after. >> after glass lewis yesterday. >> yeah, look, there are different kinds of styles. when singer from elliot gets involved, he doesn't use emotionally charged words the way carl icahn -- he gets the job done starboard gets the job done. i like these so-called -- i interviewed singer, and he's the kind of guy if he gets involved he's going to make something happen and he never shoots from the hip. >> yeah. >> and i know that carl shoots from the hip that doesn't make him bad. carl icahn shoots from the hip and musk shoots from the hip there is a lot of hip shooting >> he we live in an age of hip shooting no doubt. >> my friend buddy powell was talking today about how twitter is not a good way to disseminate. reuters is come on. millennials, do they read reuters? >> w

. >>> cigna is calling out carl icahn. says the proposed merger with short sighted we'll hear much more about this from cigna's ceo, he will be here on "squawk on the street" today at 9:40 a.m. eastern time. a huge interview you will not want to miss >>> let's turn to the broader market action. we have futures indicating what would be a slightly positive open now the dow jones up by 6 points the s&p up 1 the nasdaq up 4 points stability in the markets is the theme of the day let's bring in kathy lien. we are approaching stock market record lhighs right now. it seems like risk is off the table. the vix is falling again any sign out there that this particular move in the markets is perhaps just a head fake? or can we believe the bullish narrative? >> i think volatility in the markets is relatively low. that makes me wary particularly in light of the uncertainties in the global environment i'm not the only one expressing these uncertainties. central banker the are worried about how some of the trade tensions and other factors

okay, you've got something on cbs, because that -- >> don't you think that was a good carl icahn? earnings. today charlie is reporting exclusively some news on what happens next. yesterday stocks stabilized when you reported that les moonves would be on the call -- >> right. liz: is that still going to be the case? >> we -- as of now what we understand is that they are planning and they are going through scripts, they are talking about their earnings, there's stuff with shari redstone, the fact that they want to break away from national amusement which owns the controlling stake in cbs and prevent the merger of viacom and cbs, they are preparing scripts for all that. and from what i understand, and for les to be on the call, you know, and as well to be talking about what happened in the new york article, that they expect at least one question to come out. now, it's interesting, we should point out, that -- we should also point out that this is as of now. i believe it when i see it, if he does go on that call, it's going to be a huge event. we will be covering it, obviously. also,

earlier this week a caller asked about newell specifically with carl icahn's stock carl icahn does own stock. even though are raw cost concerns for newwell's many differentiated consumer products, i think polk's finally getting his arms around what frankly became an unwieldy hulk created by the merger of jardin with the old rubbermaid. it's been a disaster after the close we get results from a slew of companies that provide real opportunities did you know marriott, a terrific hotel chain is down mid single digits for the year i think that's astounding. this is a premier operator i like it ahead in the quarter zillow, the digitized kingpin also reports and it's become the de facto techno realtor's side. it has much more than plain old advertising to sustain its business model these days. what i find compelling is the ceo has dared to try to dominate many silos of the trillion real estate market. and what he's accomplished is astounding every other stock that's connected to housing has been bruised badly here thanks to a lack of inventory and of course rising mortgage rates. but i think

you have a carl icahn dealing with cigna and he's saying no to the express scripts deal.calling it a $60 million folly, but maybe more important, this is in a late-cycle bull market and we're probably going to see some of the worst deals right now. this is when ceos will ovpay, d i think investors seem to efderstand that and it's happenede. you saw in the past when companies overpa it's paid for in the later years and right now you've got a lot of ceos who are looking for organic growth and they're goingo o tryy it. >> i knew you were going to say that and knowing you were so a pric value conscious and how late we are in the cycle. >> you know m well, bill. are there still areas,th sector you can see that are in need of mergers and acquisitions that you're keeping an eye on? >> company specific, i don't have a name for youight now, there are always deals to be made and despite what i'm saying and in the second half of this year, i terms of overall volume and i think deals at th price make a lot of sense and there are challenges out tre. hedge funds that are good at this t

icahn should. really know about the man going to talk. just moments in the life of a great. start september. w. at the southernmost tip of the arabian peninsula away from the eyes of the outside world yemen is counting its dead more than ten thousand. of those displaced run into millions as a cholera famine and for many exile yemen is a war. not many foreigners set foot in this part of the arabia the president of the international committee of the red cross has come to visit this exhausted and divided country. he's one of the few people authorized to observe a conflict which has been reduced to wretched internal hostilities. his trip is a difficult one to say the least he'll be starting in the south in aden and finishing three hundred fifty kilometers further north in. the two cities that have been the country's capitals for years. between the two in the heart of the highlands he'll be. visiting us on the from line. she took me since my first visit to yemen two years ago i have been of the opinion that the international community has significantly underestimated the degree o

coming up this hour cigna david cordani responds to carl icahn wh

the wall street journal said carl icahn t pla vote against the health insurer's acquisition of expresses of express scriptsin ially fell in after hours, but then rose. they finished the regular day off 6% to $74.44. following a quarterly earnings beat nutrisystem said it's betting its recently launched dna product will drive even more growth. >> where the world is growing is toward personalized nutrition and wowt this does is a you to take a test that based on the results we'll be able to tailor your program based on what your dnas. that's really important these days because what everybody is looking for is customization. it will tell you about yourbo mesm and your eating behaviors. it will tell you about your ha nutrition, nutrition concepts are best for you and it will tell you about >> and when it comes to competitors in that space, s nutrisysted it is loaning innovation and its multi-brand strategy set it apart. shares fell 4to $38.30. sprint grew its customer base at a quicker than expected base helping earnings top expectations. the wireless carrier did warn that higher prices fo

carl icahn figures into this. he has been pushing to derail this deal. he says they are overpaying. they were trying to get the deal done. iss nose of prize that cigna down. even if they overpaid, shareholders don't think it should go through. entering --ll be interesting to see what goes on. carl icahn is not a shrinking violet. olde's nothing like a good m&a battle to heat up a friday. let's get an update on with making headlines. emma: in turkey, president erdogan bounces country will win the economic war being waged against it. to converthe moves into the turkish lira. many investors are looking for more drastic calls from the president. in the u.s., lawmakers are divided over the plan to create a sixth branch of the military. mike pence and james mattis appeared to announce the creation of the space force. congress would eventually have to fund it. california, 20,000 people have been told to flee a wildfire that is moving close to their homes. one person has been charged with setting the fire. fire crews in northern california are reporting more pro

icahn telling cnbc the crossover was too big.iven what the advisory firm said, we realized there's no way we could win shares of cigna unchanged. don't know if they've traded express scripts up fractionally. we glossed over that bitcoin story. you said if it got under 6,000 -- >> i might have to. >> it's not under 6,000. >> we're there went back up >> it's close enough >> yeah. you never want to get greedy with these things. if you think that's the low. i think there's a support level. it's around six. >> we'll see >> how much are you talking about? would you buya whole coin? >> my staff would buy a coin what are you talking about you're talking about using my pocket lint? >> pocket change >> don't pocket lint >> that's what i was trying to do >> i'm buying lot. >> you're dlollar cost averaging in >> let's talk markets. joining us is jurrien timmer, and tim plum also joins us good to have you here. i'm generally bearish. i see negative risk sentiment all the time everywhere. it occurred to me this morning when i think about what

all people carried about was the soap opera carl icahn using a curse word.ional amusements, sherry red stone. >> sure. >> in the meantime bob backash puts together one of the finest ear residentice -- ear ras in recreation the term that he's engineering at viacom is real. >> takes us back to tesla. up almost 2% 361 here are people looking at this on the funding? >> well, when you read that letter and you recognize that the saudis -- where the saudis are in terms of where they want to be as a member of the world's really great financier countries, be away from oil and gas, be something bigger what could be bigger as a statement than to go in a partnership with elon musk to take tesla private that's got momentum. this has got some momentum elon is all anyone talks about i mean, it's really quite amazing. >> true. >> when you get together with -- like people see me, most of these people think i'm a dollar sign represented by a man. they often immediately say, tesla. i mean, i was surprised they don't say tesla. there's really a kind of sense of will i lose my s

carl icahn says he no longer tends to vote against the cigna deal.relates to sigmas $54 $54 billion.gna's an advisory firm urged shareholders to support that deal. a quote here. he says in light of the recommendations, we have informed the fcc that we no longer intends to solicit proxies to vote against that transaction. breaking, carl icahn says he is no longer intending to vote against the cigna deal. let's move along to one of our other top stories today, and that is focusing in on tesla. investors remaining divided on the companies privatization push after elon musk confirmed a bloomberg report that his claim of funding secured was based on discussions with the saudi sovereign must fund -- sovereign fund. no question that a deal with the pi have could be closed. this go to bloomberg news executive editor for technology, tom giles, in san francisco. this change anything with the fcc investigation of mr. mosque? tom: it just keeps the questions alive. this recently indicates that yes, he did have in fact a very wealthy organization that saudi arabi

now, the saudis aren't like bill ackman, they aren't like carl icahn in the sense that they are going to tell him how to run the company, but if you look at the investments they have made, they do often like those companies to make investments or hire people in saudi arabia. that is part of what they do is bring technology, bring knowledge, bring jobs into the kingdom. you could see pressure on elon to build a giga factory in saudi arabia. that is one thing an analyst speculated about, but they are going to want something in exchange for helping him with this big project. selina: coming up, turkey's president calls for a boycott on american-made electronics in response to u.s. sanctions. what a prolonged crisis in turkey could mean for the iphone and more. and if you like bloomberg news, check us out on the radio. you can listen on the bloomberg app, bloomberg.com, and on sirius xm. this is bloomberg. ♪ selina: president erdogan remained defiant in response to u.s. sanctions in turkey, vowing to boycott american electronics like the iphone and stand firm in the face of what he calls a

they are going up against billionaire bester carl icahn.t is your bloomberg business flash update. mark: i have a quick peek at what is happening in european markets. the session dominated by concerns over contagion from turkey. trick us contagion is weighing on the banking industry after the report shows the ecb is worried about exposures to turkey. bbva leading declines today. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. ♪ from bloomberg's european headquarters in london, i am mark barton. stocks finishing the friday section -- session lower. the biggest decline for banks since may the 29th. we have the report that the ecb has grown conc

eastern, billionaire investor carl icahn will be with trish regan.na's plan to buy express scripts for $54 billion. now what? he is on the show with trish, 2:00 p.m. this afternoon, the billionaire, mr. icon. >>> coming up ohio's special election too close to call but that is in a district that was all-in for trump in 2016. maybe that shows the republicans have an uphill battle to keep control of the house in november. we're going to ask ohio congressman jim renacci about that after this. ♪ fact is, there are over ninety-six hundred roads named 'park' in the u.s. it's america's most popular street name. but no matter what park you live on, one of 10,000 local allstate agents knows yours. now that you know the truth, are you in good hands? you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. ♪ stuart: oh, yes. this is "twist and shout." whether you played it in your living room, you did

carl icahn backing down. the activist investor now says he will not seek both the sigma shareholders to buy it express scripts for $54 billion to the change of heart after two proxies recommended shareholder support the deal and they were paying too much for express scripts. cheryl: amazon may soon be closing in on apple trillion dollars mark. lauren: tracee carrasco joins us with more on that and other news headlines via >> amazon could join in the club with about $940 billion. 2% yesterday to hit an all-time high and go up another 7% to top a trillion dollars market valuation pictures of amazon are up 65% and 28 team. cheryl: a couple weeks ago he had won to go. we've got some tech companies that want to make it easier to access health care data. i hope this is a good thing. >> amazon, google and microsoft said they would move technological barriers but could the patient and provider access to health care data online. the company says they would share the common quest to unlock the potential in health care

carl icahn has come out against that and now he has backed out and said he did not want the deal. this is bloomberg. ♪ ♪ vonnie: this is the work markets." i'm vonnie quinn. romaine: and i'm romaine bostick. vonnie: it is time for etf friday and that may julie hyman. julie: ukip assets tracking specific sectors, blackrock is trying to disrupt the space by taking the way companies are classified. here to tell us more is tom from bloomberg intelligence. let's take a step back here. what is the sector etf landscape look like and why is blackrock interested? >> they have had a lot of success in this area of the market. state street is the big leader. 40% of the assets are in etf products. vanguard is number two with 20% of the market share, and blackrock is last, so one of the issues is they have not done anything different. state street was first. they were the first mover and vanguard came in really cheap. blackrock is stuck in the middle and has not done anything different, but they are trying to shake up the space. julie: they are looking at sector classifications. in the case of

the saudis are not like carl icahn in the. they are going to tell them how to run the company when you look at some of the investments they have made, they do often like those companies to make investments or hire people in saudi arabia. that is part of what they do, bring jobs into the kingdom. you can see pressure on elon to open a factor in saudi arabia. they're going to want something in exchange for helping them with this big project. emily: lots to continue to follow. david welch for bloomberg. i know you will continue reporting on this. since going public in march, dropbox has had some ups and downs. the stock price spiked on his ipo. and after the first earnings report, only to dramatically fall after the departure of the coo despite another quarter of strong earnings. i caught up with the ceo and talked about what has changed since going public. >> in some ways it is back to work, back to business as usual. and part of our path to being public, we have been running the company like a public company for the past couple

carl icahn is writing a letter. this is common across my bloomberg terminal.ing for the srs. we will follow that story throughout the day. i believe the, air quality in new york is not so good. this is bloomberg. ♪ >> this is bloomberg surveillance. let's get the business flash. a chinese conglomerate is selling off cap -- assets after a shopping spree. they are going to sell a minority stake in a jet leasing company. the sale could fetch $2 billion. they want to reduce the debt load. two developments involving japan, a telecom company stands to lead an investment of $5 billion. it's a food delivery giant. they seek a 90 billion dollar devaluation. that could make it the biggest public offering ever. that is the bloomberg business flash. tom: right now, joining us is our expert on congressional elections. ourn cirilli joins us, chief washington correspondent. we've got an awfully big election coming up today, the 12th district of ohio. how is it different than the soiree south of pittsburgh. kevin: the key difference is this is ohio, ohio, ohio. this is a bell

they had the activists in there, icahn, corvex, the strategic review from the board.was let's hand the keys over to travis stice at diamondback. and this company has cheap valuation, so you could see the exact same playbook that you saw yesterday after this deal hit. >> we're watching everything in the space. mike kelly, appreciate you getting up early for us. time for the top trending stories. what will you be talking about today? contessa brewer knows. >> a breakfast alert a new report found traces of a weed killing chemical in some breakfast cereals. it's the same chemical that is found in round up. 45 products were tested. 31 of them had traces of this chemical at levels some scientists consider too high for kids you give your kids cheerios, they get a side of roundup >> it's there, we're not denying it's there, it's just it's in such small doses, the government says it is okay. >> yeah. >> this is the same material that a government awarded 2$290 million to a man >> elon musk has what he thinks is a home run idea musk's boring company announced a deal to dig a tu

icahn said the steel were 8 -- were to be a travesty if it proceeded.e evenhas kept after an investor exodus sent prices of the metal tumbling. associates maintained three point 9 million shares in gold shares and 11.3 million shares in gold trusts. manus: thank you. now to the data. china's growth is clouded by trade tensions. key economic data for july disappointed in industrial retail sales. james bevan is still with us. i take you straight to the library. it is a trifecta of disappointment. people would be begging for an 8.8% to retail number. they would be dying for 5.5% fixed investments. is your glass half-full or half-empty on china? james: china is three quarters fall. for the rest of the world it is only a quarter full. i am optimistic. we have seen a trade off in china between the central bank recognizing monetary excess is associated with inflation and that authorities are more concerned about the possibility of an acceleration with inflation. monetary policy will not ease as much as some suggest. anna: relatively pedestrian for china. you h

s&p 500 today after shareholder advisory firm iss says it's backing cigna and not billionaire carl icahns to buy it for $54 billion. we're coming right back with more breaking news. you're turning onto the street when you barely clip a passing car. minor accident - no big deal, right? wrong. your insurance company is gonna raise your rate after the other car got a scratch so small you coulda fixed it with a pen. maybe you should take that pen and use it to sign up with a different insurance company. for drivers with accident forgiveness liberty mutual won't raise their rates because of their first accident. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty ♪ at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. liz: we need to look at bitcoin right now. it is falling about $60. that in and of itself does not look huge, but this after a slight bounce this earlier trading. stands at $6400 per bitcoin even, the drop continuing a now potential three-day slide in the wake

when tipper got in, when icahn got in, that set the bottom. it's going higher.u set the trend for those guys also look at celegene, and bertha mentioned regeneron it's over a longer time period, but over the last six months or so, it's really rallied quite nicely the whole selktor is taking off here >> there are clear stakes between the two. the one is being biotech could be a one product company, and that makes it look easy. in fact, some of them can really blow up and i bought china biologics today. it's been a great stock off and on one at 1 10 per share. straightened below that, and one 18 per share >> china biologics >> they make blood operate in china >> gillead gild, stock is in the 70s. they're big big upside calls for the last several weeks watch that one, brian. >> upside calls, gillead, china logics thank you very much. the traders are taking your questions. all right. ready to go here all right. first up, a question from a veteran in chadsford, pennsylvania al asks, "what is -- -- why have they not had any of the stock moves following its earnings re

carl icahn criticizes them quite a bit at times.tually will be on the show tomorrow but he has in the past told me, the problem with those career ceos they're the kind of guys or gals, but generally guys, that have come up through the ranks, in part because they're nice to everyone and they get along with everyone and they're not that they don't ruffle many feathers. elon musk is not the guy that is not willing to ruffle those feathers. you have to upset the applecart and deal with analysts or not deal with them. adam? >> those kind of personalities have difficulty running publicly-traded companies. just like the president has difficulty, because he is running the whole country. he has people that like him and people that don't like him. when he says something inflammatory, you get all the pushback. same thing with ceos of many companies. they are middle of the road type guys playing it safe. they have a lot to lose. elon musk is willing to walk on the tightrope just like somebody in washington right now. the bottom line is, how doe

number two, you've got activists in there, tepper and icahn in there. very cheap and i think it's poised to run further. >> ariel in miami wants to know if broadcom is a buy at this level, doc >> well, it's been struggling, just bouncing around at this 205, 210 range, mel. lone pine dumped it. he liquidated his stake in it, so i don't have a lot of great upside in this particular stock at this time, sorry to say. >> jeff in new jersey says i wanted to buy some home depot stock around 191, it jumped to 195. i was wondering if this is still an okay time to get in on a purchase of hd j.j., you are short the stock. >> a couple of things give me concerns about it. the first being is that they talked about higher costs in their earnings call. they haven't said they're going to raise costs along with that and they're about to spend a lot of money because they're going to make it easier to pick things up at a store. so i would be a little bit patient on this one. you may get lowe's earnings coming up. >> jim asked on thoughts on bank of america. >> i think rela

. >> or we were surprising yesterday and what if the very carl icahn comes in and says that's not enoughhat would be quite a twist >> let's hope that happens just for entertainment purposes >> for more options action check out the full show tomorrow at 5:30 p.m. eastern time bitcoin will bounce around, and what will get it out of purgatory? wall street's crypto king will be here plus what would you do with a million bucks a record number of americans are answerinth qstn g atueiofor themselves tonight we'll have that story and much more straight ahead. no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. >> welcome back to "fast money," a similar way to play the crypto universe hi, bob. >> there's no bitcoin etf, but since 2015, europeans hav

. >> i go back to one of the original letters of carl icahn's son brett and his investing partner dave scheckner when he wrote that letter saying apple is going more than $200 a share. and they compared the company to a mercedes-like premium brand which shows up in the phones people are willing to pay what was once perceived an outlandish price for a phone, they deserve the premium valuation because they are a premium brand >> yes, so to your point, the cash is going to be -- not ultimately a headwind, but it continues to be a conversation what are we going to do with the cash the cash on the balance sheet is diluted. >> absolutely. they return more cash to shareholders than almost anybody else they're sitting on more cash than everybody else. the market cap is higher than everybody else >> let's go back to the product. >> i think they know what the heck they're doing >> you're unitinright. >> let's get back to this product which now is going on its 11th year. the question becomes the product life psych is what i think that's what everyone sells apple short upon because they're continu

merger caused carl icahn to halt his opposition. great to speak with you.ou call this a defensive deal. we know that the deal will be immediately and highly accreted from a financial's -- financial standpoint. what could it do better now that it could not a year ago? >> the landscape is transforming. signal -- cigna is making a bid to be one of the big four, if not the big five. unitedhealth group, they have shown the way with an integrated performance scale. they are five times the size of cigna with the medical and pharmacy benefits manifest -- manager. they are moderating health care costs, getting outside share gains. we have at night in a bid to .erge with cvs that is a big deal cigna has to contend with. anthem is building out an in-house pharmacy benefits manager. we will have again a platform at scale across medical and pharmacy. cigna is a $45 billion company. something. to do investors hoped they would buy or merge with humana. the antitrust stance was unclear. express scripts gives them a different angle and platform across medical and pharmacy.

as we know, carl icahn has taken a position and i believe he has gotten some board seats. my question, do you believe this company is on the right track? i know there is supposed to be a stock buyback, but i haven't really seen a big enough bump for that. >> remember, carl's buddy ian is friendly a 3.5% yield. a lot of things have gone wrong including raw costs, but i think those can turn i am a believer that the stock is going to work here, but it is not going to work like that. brand loyalty doesn't mean much anymore, and that's bad news for png. apple on the other hand, you have no choice but to stay loyal to that eco. much more "mad." pizza, video games, target and cash no, i'm not talking about your college years. i'm revisiting the stay-at-home economy to tell you which stocks tend to benefit. >>> then, i'll clue you into new ways to profit from the rise in popularity of chilling at home it's a one-two punch and agco ceo has plenty to say to donald trump the last time he joined us. >> i think now we have people in washington who don't listen. they don't read. they do

i would probably ask carl icahn whether he would take herbalife private at some point, but this is fundingured funding secured tells you that there's been definite conversations and that there have been formal conversations >> and board, if any of you watch this show, someone has approached your company to make a bid for it to take it private. it would happen to be your ceo and obviously you know all of that and it's your duty to the shareholders to tell them what the hell is going on. >> despite all of the drama, tesla has more room to run let's go out to san francisco with that angle. mike >> so tesla traded more than two times its average daily options volume and this is one of the stocks that trades a lot of volume to begin with that made it the busiest single-stock option by a long shot and well over apple which was the second place in terms of how much activity we saw and most of that activity by the end of the day was concentrated in the weekly 380 calls that we saw 11,000 of those trading for five and a half dollars and they're options traders that the stock would be above 350 by t