free market. >> kraft heinz, the quarter, look, there's one part of kraft heinz that will be with mecheese whiz, where you get whiz whit other than that, i have not been stocking up on their party because i don't believe a nuclear war is on the horizon. >> i'm glad to hear that as well >> you are back from korea did you tattoo the money five play from the fourth down? >> no. rick who did have the tattoo, i find that i'm really channeling, kelsey who was playing in the mummers band, i only bring up the eagles because carl has not had a chance to congratulate me on the victory because you were away >> very positive across the board, except ge, you talked about the footnotes of break shire's annual report pointing to continued concern from buffett about the liabilities related to long-term policies. we know ge has already taken as much as $22 billion, much of it unexpected, to reserve for its own long-term care issues. they were fresh on the board this morning by the way, lawrence culp is also on the board. this guy ran down to her for 14 years. very well regarded executive is mr. culp

i watch kraft heinz, they need to make a deal cure ig got the deal to do dr. pepper. >> dr. pepper was flat, volumes were flat but that stock obviously up a great deal on the deal itself. nestle also since we're talking about it -- >> that was not a great quarter. >> continues to be a significant holder there their ceo still relatively new in the job, talking about a reacceleration of growth both here and abroad and not yet seeing it in the numbers but they were indicated down i think they were down in european trading as you might expect as much as 21/2 percent after the earnings came out. >> we're also in the grips of a kind of a sea change in what does animal does very well by the way, i keep waiting lily did not have a good number in their animal health. people think they are going to sell that. their money is still going cyclical the caterpillar on table works still see back and forth in social media, facebook can be up five then the profit takers come in fang just doing okay i'm watching applied materials closely because i love that conference call. people are not craz

are not getting the attention of american shoppers, general mills is betting tl.t pet food w >>> kraft heinz ss warren buffet is retiring from their board after the end of his firm. he acquired kraft foods in 2015 in order to create one of the biggest food and beverage companies. berkshire hathaway will release its shareholder letter this weekend. >>>il general of course feeds your family. now it wants to feed your pet ae . the food company is move into the very fast-growing pet food business with this $8 billionse purcf blue buffalo. shares of blue buffalo soared by 17% on the news today. general mills fell into today's trade. dominik chu takes a look at what drove this deal for us. >> reporter: there is a huge reason why a big food company like general mills wants a dog fopany like blue buffalo. when you are going to marry these brands, bet crocker, lucky charms, pillsbury, progressiveoup on the general mills side and you marry them ar the organic natural dog food premium dog food, this side is showing stagnant growth, this side is where there is double digit sales and profit growth. that'

. >>> we tailers are sto fewer products made by kraft heinz. and that h that company's bottom line. it comes as competion increases and americans opt for healthier meals. sharesell more than 2% to $70.80. and vf corp., which owns north face and wrangler reported disappointing earnings and said it's planning to sell itsug ic ka business and wants to focus on its best performing labels t stock was off 11% to $74.64 wynn resorts founder eve wynn will not receive any severance payouts after he resigned fro his post following sexual misconduct allegations. he was atne point eligible for a package totaling more than $300 milln. thasino operateder also said it was considering removing the wynn name from the brand. the stock rose fractionally to $164.28 it is time for our weekly market monitor who has three pks he says have reasonable valuations and can weather this environment of increased volatility. the last time he was on, he chose accentture, and camp val. he is the president and portfoo offbd capital. welcome back, michael. nice to havehe you . congratulations on a couple of those nkp

shares up 3% in the market food giant kraft heinz missed on be the top and bottom.the company said its 2017 performance did not reflect either its progress or its potential. down 1% this morning campbell's soup earned $1 a share. revenue above forecasts but its organic sales fell 2%. campbell's said it's disappointed with its performance down 3%. >>> one more report to tell you about. j.m. smucker beat on the top and bottom line. they raised the full year forecast amid better cost controls, also ongoing benefits it cited from tax reform. >>> and news just out from qualcomm for the first time it's giving details and a response to its wednesday meeting with chip making rifle broadcom which wants to buy it in the $121 million view qualcomm said broadcom's deal still materially under values the company. it calls the talks constructive. qualcomm said it's concerned about undertaking a transaction that may or may not close and that the currently proposed break-up fee which i think has been a huge one, actually, still does not properly reflect that risk qualcomm fluctuatin

i think that pressure has come more from shareholders, there was a takeover attempt by kraft heinz last. they have to choose a headquarters. it happens to come at a time when brexit is in full flow although i think this is as much about cost is about brexit. it would have happened anyway? the decision is to go to one place with one capital. and another story claims the antidepressants actually do work. music to the years of the pharmaceutical industry? yes, and also to the ears of people who need these treatments. it's a big issue and hopefully this study has put to bed a question of whether they work or not. presumably they will be more widely prescribed, which will be more costly to the nhs. the study was pretty in—depth. more costly to the nhs. the study was pretty in-depth. will have to leave it there, many thanks to mike amey. from sally and i, many thanks for joining amey. from sally and i, many thanks forjoining us on business live today. good morning, we have some frost, we will have to get used to it over the next couple of days, the cold air is still on its way. today for many

on friday kraft heinz, known for its ketchup, jello and kool—aid — and for its brutal cost—cutting regimeear. the company, which is partly owned by billionaire investor warren buffett, attempted to buy consumer goods giant unilever last year, only to be quite swiftly rebuffed. and the world's largest soup maker, campbells, whose iconic tins were immortalised by andy warhol, is expected to report a drop in second—quarter profit. it's been hurt, in part, by harvest delays of one of its key ingredients, carrots, in california. and wall street will be watching to see whether monthly home—building data picks up after a sharp fall in december. a fall in demand for homes can have a ripple effect on the construction industry, on employment and the wider retail economy. shaun port is chief investment officer at nutmeg. good to have you with us. the uk is trying to ensure it has alignment of financial rules with the eu post brexit, why is that so significant and how could it affect our kids? financial services are a big employer in the uk and a bigger contributor to the budget, with tax receipts. u

. >> in the last year, unilever about a takeover form kraft heinz -- from kraft heinz.s -- business flash. predictedsome davos protectionist rhetoric would lead to sluggish economic growth and lackluster stock market gains but that did not happen. donald trump reminded the world of that. he said that when the united .tates grows, so does the world tom oprah used the speech to urge corporation with american efforts to curb north korea's nuclear and missile weapons programs. still with us is dr. keyu jin of the london school of economics and dr. christian keller of barclays. thank you for sticking around. you were in davos, and on a panel with steven mnuchin. the talk was going to be on world growth but turned to currency manipulation. it was two hours after steven mnuchin said that a weak dollar is good for global trade, is that currency manipulation? >> i think it is a form for currency medicare relation -- currency manipulation. they are missing a weak currency , the other side of the story, import prices will go up which will lead to inflation. --talked about the hike

on the upswing and has better contributions to the operating line than his past investments in kraft heinz at a 1.5 times discount on the ebitda multiple which is the way you value food stocks yet grainger, you're providing the input for that infrastructure build-out without the risk of the infrastructure so those would be my three top names. liz: i think these are so interesting, because and folks when you look at them you look at the pe ratios, that's a price to earnings ratio and you can see whether company is fairly valued or not if it's a high pe ratio, you've got to wonder maybe that means they're not going to make as much but people think they will and it's not based on a lot but these pe ratios are all below 18 which i think is very interesting mary ann we've got a rally on our hands you loving all to bees right now? >> a lot of them. i think a lot of them still have the growth prospects and you know when they raised earnings estimates they only counted for the tax reform. they didn't really dig into the operating side so after the first quarter the second quarter , we can see incr

kraft, heinz, coca-cola, very mixed picture in terms of results and perception it's in a weak group if look at the sector, consumer staples sector, the big stocks reside, xlp has been a very poor performer. that is the white line relative to the s&p 500 barely up for the year to date they got about that in a dif he didn't right now this group has a dividend yield around 2.7. higher than the s&p 500 but not high enough seemingly to entice a lot of people. naturally, they've been in a difficult spot in terms of their o own per foremanance and investor preferences. if you want to drill into the food and beverage group, there is a smaller etf under the system pbj that is a power shares food and beverage stock etf. it is actually done somewhat worse. it's only up .5% on a one year basis. the staples group includes walmart, costco and personal products and things like that. i'll say investors retreat from this area and has been pretty pronounced the xlp had outflows in the last 12 months of $700 million. that is about 10%, almost 10% of the assets that sit there right now. so clearly it's an

shares of kraft heinz hitting it to a half year low after the macro of kraft make and she's missed estimates. campbell soup, one of the worst performers in the s&p 500. news that one of the key customers/disorders of campbell's premier product, and you guessed it, that would be canned soups. as a result it is down more than 3%. breaking news, major development out of the muller investigation. rod rosenstein announced the indictment of 13 russian nationals as we said, charges involved foreign meddling in the 2016 presidential election. the headline, teen mulle team muller acknowledging no american was a willing participant in this meddling or that it altered the outcome of the election. blake berman is live at the white house with more on this 37 page indictment. >> this really dives into this one operation and shows just how extensive it is according to this indictment that named 13 russian individuals, three entities and hundreds of employees that was based overseas in russia and also some people here to the u.s. for they were using social media, fake personas online to try to portray thems

kraft heinz has been a huge stinker. deere stock has pulled back. and after years of pain management deere has become adept. promising synergies and good times ahead. eight total and unmitigated disaster and now former ceo has teamed up with the activist fund to try to throw out polk and the board and let franklin take the reigns now he wants the whole kit and ka boodle. if the company can report a good quarter on friday, maybe he keeps his job. they will toss polk out. the fix busters are still in charge you need to see these pieces of papers calm down and calm down now. if they don't, if he they don't stop, no common stock is safe. if they do, we should have a huge relief valve like we did this afternoon and now, you know how to play it ara in ohio. >> caller: booyah. i am calling about honda motors a stock that has been treading water for years now. they do differentiate themselves they are growing briskly in china, gaining motorcycle market share and about to enter the personal aircraft market will honda stay in low gear or accelerate >> i am no

he will entire following the end -- he will retire from the board of kraft heinz.wing the end of the upcoming shareholder meeting. he decided to retire as the decreases his travel commitments. remember, in his annual letter to berkshire hathaway shareholders, that comes this saturday. coming up, it has been a week of chaos for social media platforms. fake news and a crisis is unfolding after videos and tweets emerge labeling a florida teen as a crisis actor. if you watch bloomberg news to me the check us out on the radio, on bloomberg radio app, and sirius xm. this is bloomberg. ♪ emily: acquiring 6% of a chinese mall operator for $140 million. the move is part of a larger brick-and-mortar retail move in a race against rival alibaba. both companies are investing in physical retail to ramp up adoption of the digital wallet. companies like facebook and twitter have been in the hot seat for some time now and the problems continue to pile on. just a week ago, robert mueller unveiled the details of a widespread campaign by russians to influence the u.s. presidential ele

others include kraft heinz, cvs, beer and met life. finally a superhero movie set to post heroic numbers at the box office. black panther may top $150 million over the president's day weekend putting it in range of the presidents' day record set by dead pool two years ago. >>> we're tracking rain and flooding. >>> randy gyllenhaal is checking the driving conditions from storm force 10. randy? >> reporter: a live look in philadelphia. we're on hunting park avenue as the rain continues to fall. it's fallen a bit harder now. the fog, the rain and the accidents we're seeing already. >>> that heavy rain is pressing through parts of delaware and south jersey. a flood warning has been triggered. we'll tell you where after the break. >>> weekend washout. heavy rain moving across the area. it could cause flooding in certain neighborhoods. we're tracking the conditions for you. >>> chain reaction crash. a chester county wreck leaves two people dead and now police are trying to determine if the wet weather was a factor. >>> gold rush. team usa's

one question that came in from kraft heinz was the announcement that kraft heinz just put out.s this a sign that mr. buffet is scaling back his direct participation in the business? he was referring to the headline kraft heinz reports retirement of warren buffet from board. >> i was not on any outside board -- well, until the heinz deal came along and then the 3g, our partners, asked if i would go on for a while and i said fine, but it takes -- there's five meetings a year, it's about a day and a half per meeting you go in the previous afternoon and take -- so it's really a day and a half if you have five meetings, that's seven and a half days a year we have two other people on the board. the truth is i'll talk to the 3g folks in the same way. it doesn't change anything about it, it saves me 7 1/2 days a year i don't want to be on any outside boards it's time consuming and i haven't got that much time. >> but it doesn't indicate any -- >> zero. >> -- declining interest in the business >> no. we're not going to change any of the share. we have two people on the board. we could h

brian, back to you i was listening in to the kraft heinz discussion i don't know about your kids, butstill love kraft macaroni and cheese. i can make organic, they don't want it. >> thank you very much >>> pete tracking bullish options moves in two places outside of the u.s we're going to see how to play them coming up, but first, let's get an s&p sector check on the friday all 11 sectors are in the green led by health care and telecom we're on pace folks for one of the best weeks for the equity markets in a decade. stick around let's build a better world for investing. let's hold ourselves to the highest standards of ethics. as investment management professionals, let's measure up. cfa institute. sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ (sighs) i hate missing out missing out after hours. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a

a lot of this is in consumer and defensive names, hersheys and philip morris, kraft, heinz, a lot of reets are at new lows the vix has been all over the place. it is still elevated this morning, trading around 45 or so again, that is a big notable move to the upside remember, nobody owned any protection this far down when you started going from 2700, 2650, 2600 in the s&p 500, nobody owned protection that low. when you get that low and everybody goes and says we need protection, well, the options, the market makers charge you a lot of money that's why the vix went through the roof you see it at 34 right now one other side infect here, take a look at the cpoe which, of course, controls and owns options products that's down 16%. not clear why. there was a note out by kpw that noted 25% of their revenues come from vix products. from options, futures related to vix. that may be an issue there i did contact cboe and ask for a comment. i haven't heard back from them in the meantime, if you're looking for a bright side, markets are getting cheaper. we kept complaining one of the risks we ha

it did rebuff an unsolicited takeover offer last year from kraft heinz. they have got to show the shareholders that they can do well. so far, from these results, it is doing a pretty good job. matt: the maker of the most important tea int he world. , thank you.chko it all the latest stock stories by going to first on your bloomberg. it's also available to subscribers via the mobile app. so, check it out on your iphone or android phone. still to come, we speak with novo nordisk ceo, as the drugmaker's cfo and chairman step aside. this is bloomberg. ♪ matt: welcome back to the european open. you are looking at a shot of our new headquarters in the city of london. 10 minutes into the market open. let's look at all the stock stories we have to deal with this morning. so much in terms of earnings out. for that we go over to nejra cehic. nejra: the enthusiasm for the unilever stock was short-lived. we saw a gain at the open, but free now trading much flat. this is after the company says they are on track to meeting profitability goals. that is not giving m

kraft heinz, whether it's food companies, consumer company, walmart a big play and in the crosshairsazon. they saw the earnings report but what they dug into there were the sales online which were very disappointing. third quarter year-over-year online sales were up 50%. fourth quarter only up 23%. people said what happened to christmas? we expected a big move there. so traders saying we are concerned about what's going on in the broader economy, but also this is also a reaction to what happened last week, and the big move in dow stocks last week, it was very good news last week. but now seeing lots of laggards across the board. i want to tell you that s&p down here, not nearly as much as the dow, you know, the holdout had been the nasdaq, but no longer, a lot of technology companies in trouble as well. though amazon flying high as it seemingly always does. back to you. cheryl: yeah, gerri. if you looked at the stronger sectors that they're happening in the s&p earlier, it was technology, consumer discretionary, energy with the oil price story, but the laggards, consumer staples, tel

other names in the consumer space, kroger, kraft heinz, clor clorox, these larger consumer stocks allalso notable is the move on the dollar. higher today as the ten-year creeps up past 2.9%. last week, the weaker dollar is said to be one of the reasons stocks rebounded today, slightly different scenario let's see if it holds. moving on, a lot of notes out from top wall street strategists. the bull versus bear debate with blackrock among others saying tax cuts will supercharge earnings and inflationary fears are overblown. while morgan stanley and others mentioning monetary policy winding down plus a widening deficit as those reasons to worry. with all that said, take a look at the dow transport, said to be a leading indicator for the broad market still down about 9% from its recent high. not quite correction territory, but weakness in names like union pacific, kansas city southern, jb hunt, all leading the dow transports index lower on the flip side, in cryptocurrency, a strong move in bitcoin futures catching the attention of traders here as south korea said to be assessing how to su

names we get more reporting next week, consumer names like restaurant brands, pepsi, shake shake, kraft heinzkinds of names that can buck this market up. >> it's hard to know maybe they can create a bit if they are good in that group, the staples group. cisco. >> cisco is reporting as well. >> not much of a bellwether. i think it's going to be about has this market stabilized and since the stock market topped pond yields are up. it's about making our peace. we still have to have a settling out period. >> we might get more commentary about the impact of tax reform then retail earnings as we get further on. >> and the fed will be here in march, before you know it. >> let's not get ahead of ourselves. have a great weekend everyone that does it for the "closing bell." "fast money" begins right now. ♪ >>> "fast money" starts right now with breaking news on what has been incredible and historic week for the market. the dow in a number of daily wild swings traveling more than 20,000 points this week with two 1,000 point drops. at one point we were in correction territoryand at the lows today the dow

that list includes pepsico, under armor, metlife, cisco systems, marriott, heinz, kraft, and coca-cola. the market may key off fundamental news as opposed to speculation. though we got earnings numbers as well. and that's eye its own adventure. >> these are stralers. we're done with earnings >> joe's closing the books >> we're done with earnings. >>> looks like eququalcomm and broadcom are planning a valentine's day meeting. to talk about broadcom's $121 million acquisition offer. "the wall street journal" reports the company has secured $100 billion of debt financing for that hostile bid also enlisted the help of two private equity firms the ceo of broadcom will be on "squawk on the street" today >>> frld automatic toy plaker planning to raise production of the expedition and the lincoln navigator by a quarter wife% this year. both plants manufactured in the company's plant in kentucky. ford is looking to challenge rival general motors and boost its own profit marking >>> and oxyconte maker purdue pharma is cutting its sales in half pharma companies have come under fire for the way th

products, kraft heniz, for instance, campbell saying it has been a tough quarter as they try to compete so there is this sort of pressure, especially as the stock prices for at least campbell and heinzby more than 20% over the past 12 months. general mills has fared a little better there, down about 10% over the past 12 months. some pressure here to find ways to the natural food aisle. >> simons told us earlier in the week, he had a 22-year-old daughter but if he showed her a can of food she would be like, how do you open this thing, as a knock against campbell's or any competitor who sells food in cans. >> he also talks about the humanization of pets, which i can now relate to a little more. >> welcome to the party. >> yes, a year or so in with a dog who we love, of course i think he even -- i don't know what he gets fed think it is blue buffalo. >> would you shun a can of dog food >> yes, i would shun that. >> would you feed him human food >> no, not human food, but all natural and healthy. we want him at peak performance. >> we will get to the oping en bell in a few moments. don't go away. we took legendary, and made it liberating. we took safe, and made it daring. we took intell