that was the short from larry robbins. on the long side he likes hmos and hospitals and we heard this from him for a long time specifically, he likes cigna and anthem and tenant, hca, uhs. chemours shares are now down 5%. again a big part of larry robbins' argument there going back to the hospitals and the hmos and he would be short pharma as any etf, medicare for all is unlikely, but something on drug pricing is much more so. pass unilaterally. some familiar arguments there. you can see the shares of both his buy and sell recommendations moving in the session today. tenant is now up about 4%. >>> we're going to take a break. when we come back, president trump making a big tariff threat why aren't the designs in today's u.s. markets larger? is the trade tension priced in or is a bigger drop coming what it means for investors. we're down 4.17 at the session lows >>> amazon can already ship to 72% of the u.s. population within just a day. can the competition ever catch up "the exchange" is back in two. >>> welcome back to "t

what's your take on larry robbins' claims? >> well, i'll tell you i've known larry a long time he's pretty sharp. and assuming he's done his homework on this one, i haven't read anything he's put out there yet, but if he's done his homework he could have something. we don't really know these pfcs are toxic they're called forever chemicals because they just don't break down naturally so once they're in your water system it's almost impossible to get rid of them. so in theory, yes, these lawsuits could be rather large it's really hard to know how much >> one of his points is that 3m, just 12 days after filing their 2017 10k in 2018 paid out $850 million to the state of minnesota, which claimed that 3m had contaminated the water in the state for at least 50 years. new jersey has similar suits prior to larry robbins coming out today on the stage at the stone conference sxurnlging investors to short the stock did you think that the litigation claims were contained? >> no. i mean, i lived through asbestos many, many years ago and i

chair of the board, larry robbins will be joining. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn. the robin hood foundation is the charity of choice for wall street, thanks to powerhouse fundraisers, mega-donors, and a hawkeye trained on its budget. its mission, to eradicate poverty, and in dishes mission. the annual benefit taking place monday. -- an ambitious mission. join me to talk about robin hood is ceo wes moore, and the chairman of the board, glenview 's larry robbins. we were joking, every time you are together, the market tanks. think we will have to start trading s&p around our joint visits. on balance, it's been a good year for markets. we hope that means it will be a good year for philanthropists. that is what we are trying to solve at robin hood, making sure that we love thy neighbor, that there is prosperity for all new yorkers. the fact that we got a little bit of a red day here is par for the course. vonnie: we will talk fully about robin hood, but i have to ask you about this market while

>> we're going to pick up right where you left off we'll go back to the sohn conference and to larry robbinso present his best idea on stage just minutes from now. we'll carry that live when it begins >> plus, those trade tensions are rising after the president's latest tariff threat to china. does it force china's hand, or how might the country hit back we'll explore that in and talk about why some winemakers are all frowny faced about emojis that and more coming up on "the exchange" today. the "halftime report" is back after this when you look at the critical issues facing our world, what do you see? we see a billion more people breathing free. we see access to fresh food being the global norm, not the exception. we see homes staying cooler, without the planet getting warmer. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved. (indistthat was awful.tering) why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don

later, i will be speaking with larry robbins and the foundation ceo.his is bloomberg. ♪ when you rest on a leesa hybrid mattress, bedtime is no longer simply the time to go to sleep. it's time to switch off and catch up, enjoy me time, and we time. 40 winks or 8 hours solid. the leesa hybrid mattress combines two technologies to give you deeper rest and rejuvenation. 1,000 pocket springs provide edge-to-edge support, responsiveness and comfort while premium foams relieve pressure, keep you comfortably cool and limit motion transfer. leesa's hybrid mattress is not only recommended by experts, experts choose to sleep on it too. try it yourself at any west elm store, or order online and we'll ship it to your door so you can try it risk free. the leesa hybrid is american made,built to last,and right now you can get 10% off and because everyone needs a place to rest we donate tens of thousands of mattresses to those in need. live healthier. live happier by resting deeper. go to leesahybrid.com. vonnie: live from new york, i'm vonnie quinn. guy: from london,

. >> michael, yesterday, larry rob boro robbins.ver you want to do that, because what they do in other parts of the world. we hear this all the time. is novartis going to walk right into political fire storm here >> i think that in the big picture, the large companies like you're referring to are going to continue to be in the target zone, in the bull's eye for a lot of these politicians and i think that on a relative basis, you've seen it with large biotech companies which haven't done anything for the last year or two, haven't done anything. we'd be focusing more on the small and mid cap companies, the xpi, up 20% this year. those are the small innovative companies that are coming up with some of these great drugs and there's been a lot of acquisitions and mna we think that's where people should be focused on >> is there any way to know the right price for these gene therapies that will increasingly have these kind of price tags? >> that's a huge debate. there are independent groups, one called icer, that tries to do the pharmaceu

glenview's larry robbins has pitched shorting 3m citing legal liabilities.de the comments recently. shares have fallen on the comments. its --o sweetens occidental sweetens its anadarko bed. this is bloomberg. ♪ amanda: this is "bloomberg markets." i'm amanda lang in toronto. shery: i'm shery ahn in new york. occidental is getting closer to its acquisition of anadarko, this after sweetening its cash bid to 50%. here to talk about the latest development in oil m&a is the senior analyst at cowen. when we first saw this narrative, it was more like david versus goliath. at this point, doesn't make sense to go with a smaller player, given the terms of the new offer? >> i stay you can throw sense around -- out the window. it is a more -- it is a more superior offering at this point. chevron's than effective did, so now we're in a waiting pattern to see, does the anadarko board confirm it as a superior bid on the part of inidental, and what happens the days that follow, does chevron respond? amanda: interesting to see chevron and occidental trading higher today. wh

. >> taking the other side of the larry robbins trade. great stuff. appreciate it very much. meg tirrell. thanks everyone, does it for "the exchange. i'll join tyler and melissa for "power lunch" which begins right now. >>> and we'll see you in just a moment i'm melissa lee along with tyler mathisen new at 2:00, get ready for a wild hour of trading the threat of higher tariffs on china fueling a sell-off on wall street time to look for cover or should investors look past this trade drama? and if tariffs do go into effect, the american consumer could end up paying. how is that going to hit retail earnings and the one group of stocks underpriced right now if we do get a trade deal and lyft reporting results after the bell, first as a publicly traded company, stock down 15% since its ipo. time to buy or to bail "power lunch" starts right now >> thanks, melissa welcome everybody to "power lunch. i'm tyler mathisen it is a doozy of a day the 2:00 p.m. hour has usually been one of the really volatile ones during these big trading days and maybe today will be no exception to that. t

called gatx some of the biggest stock moves of the day came during a presentation from glenview's larry robbinsvestors should short 3m over their potentially legal exposure related to a chemical called pfas. robbins believes lawsuits are accelerating against the two companies and they could be on the hook for billions of dollars related to this chemical pfas is a chemical that can be harmful when it leaks into the water supply chenmore and 3m fell on these comments today another big move reata pharmaceuticals. kormolon asset management pitched long in this stock thanks to its drug which treats chronic kidney disease reata jumped on that presentation and closed almost 6% higher today, guys. >> leslie, that 3m short idea i guess grabbing the most headlines i'd say over the course of the day. down a little. but not relative to its declines of late. >> and chenmore certainly saw a bigger tick downward but it is a smaller company. you're right it was somewhat of a surprise to see him pitching shorts on these two companies, especially after he gave a presentation that largely centered around health c