medtronic comes in takes market share. europe is good, you see growth there. but now boston scientific got approval last year for competitive product. so, it is inindustry will you see a lot of competition come in, i think it is priced to perfection. >> i will save you, i like this stock, not just about it, hv, they have other products you look at mid teen, high teen growth, this is what a growth company looks like margins through the roof, it could go higher. >> how do you play market share with medtronic's they are licenseing out the heart vials with edwards for national most 2022? do you really think that medtronic's would take away market share. >> i don't think when one you refer to but thv they are taking market share away. charles: do you like it with -- or in. >> yes, i do love it, i think this is a great stock, i think sales up 11.7%, and growth potential is great, they have a licenses deal with medtronic's. >> is boston scientific cheaper? >> a cheaper priced stock not sure about value. charles: high subscribers bought boston scientific, i think i di

ebola, and on medtronic's plate, inversion. we have a lot to talk about, coming up. >>> plus -- >> coming up. >> we are the founders of lume nation.com. >> can these guys survive the competitive floral landscape? >> i think it will be pretty challenge to gain significant market share. >> stay tuned to vote. are you in or are you out on this week's start-up? go to cnbc.com/vote right now, and get ready to start voting. over 20 million kids everyday in our country lack access to healthy food. for the first time american kids are slated to live a shorter life span than their parents. it's a problem that we can turn around and change. revolution foods is a company we started to provide access to healthy, affordable, kid-inspired, chef-crafted food. we looked at what are the aspects of food that will help set up kids for success? making sure foods are made with high quality ingredients and prepared fresh everyday. our collaboration with citi has helped us really accelerate the expansion of our business in terms of how many communiti

medtronic just announced they have renounced their u.s.es leaving for countries more friendly business laws. we need to demand government get out of the way of your businesses. get your guroreedy and corrupt hands out of our wallets. just three states and a d.c. court saying no more to the oppressive rules and regulations our big government demands. to west virginia, where president o. is in a battle with the coal industry. all those jobs. a democrat running for senate is warning the white house, back off. >> where do they think their electricity comes from? i'll make sure president obama gets the message. >> keep your eye on her. >>> to texas where governor rick perry is sick and tired of waiting for the obama administration to act on the illegals coming over his border. >>> to colorado, where the state legalized marijuana. colorado pot business is smoking hot with revenues in the hundreds of millions of dollars. tax revenue estimated at over $30 million this year alone. take that, obamanomics. >>> and to a d.c. court where a federal judg

medtronic was doing that with covidien and taking tax deduction. stop m&a deals like that. >> i would say this you would think you need some tort sort of congressional approval to this sort of stuff. >> you would think. >> major rewrite of the tax law. i will say this -- i'm not first person to say this i heard rich lowery say it i'm not the first one. i mick that point. he will poison already poisonous atmosphere uses pen and immigration. this is setting up a huge battle of congress. i don't know what impact that has with the markets. we're heading for political, we're heading for political nuclear war. >> social system very strong. excuse me just a second. this is also something because it really should be a tax code issue. not a presidential issue. >> congress's purview for tax law. this is overreach. >> say if he does it, what does that mean politically? midterm elections. it will be nasty. great stories but it will be nasty. >> it will be nasty. melissa: for get tech's claw. expercent warn about dangers of text neck. >> that's me. melissa: hun

hewlett packard, sales force.com and medical equipment giant medtronic also. one time ceo steve balance per paid $2 billion for the la clippers this. week he gets to meet players and fans at the fan appreciation day. just as millions of students begin heading off to college, forbes magazine has the annual list of best and most affordable colleges. get all your binusiness news on cnbc. >>> reuniting military service members with stray dogs they found overseas in wars. how one local pet store makes sure this dog doesn't get left behind. >>> a dog from afghanistan could soon have a new home in the united states. her name is betty. a local charity called no dog gets left behind is raising money to bring her here. the charity reunites service members with stray dogs from war torn countries. betty is special. she'll be trained for people with post-traumatic stress disorder. pet smart gave the charity a $10,000 check. the entire effort to bring betty here will cost $13,000. a worthy donation. >> a lot of clouds around but you've been telling us sun is coming out late

we're talking about medical device maker medtronic and it's committed to completing the deal to buy air land based health care products company and then reincorporating in ireland to lightening its tax burden. >> it is one of about 50 u.s. companies using inversions to reduce tax bills and the u.s. treasury is taking steps to block companies from reorganizing. joining us to talk about what the administration can do is andrew freed mman. andy, welcome and happy birthday, by the way. >> oh, thank you, tyler. >> we're so happy you're spending your birthday with us. >> thank you. >> let's talk about what the administration can do. i gather their pallet of options. >> you're right. this is not the first time we faced inverses. congress gave us rules saying if the company merges with an offshore company and 20 per% ar foreign entities, foreign people it's a good inversion and there is no regulations this allow treasury to do much to stop that. it takes congressional action. >> so what can treasury or the white house do in the meantime whether it's, you know, a partial fix or not, what exactly

. >> the lab also recently partnered with medtronic to work on neural implants that can help scientists better understand brain injuries of wounded soldiers. it's all part of the last push to transfer more of its technologies into the market that can help that many more people. josh lipton, "nightly business report" livermore, california. >>> and finally tonight, a gadget called the coolest cooler raised more than $11 million for investors. it's becoming the highest funded project ever on kickstarter. that's the online crowd funding site. and the total could grow even more before the campaign closes at the end of the week. the high-tech cooler has a built in blender, a cutting board, usb charger, a blue tooth speaker system and, of course, it keeps things cold. that's "nightly business report" for tonight. thanks so much for watching. have a great evening. see you right back here tomorrow night.

have incorporated overseas in the last decade, including tim hortons, sara lee, chiquita brands and medtronicere is speculation that wa walgreen would move overseas, but they say the best decision for shareholders is to stay in the u.s. a report from the joint committee on taxation estimates that the u.s. will lose at least $20 billion over the next decade if the inversion trend continues. so, this brings us to our twitter question for you this morning -- how do you feel? is it right for american companies to move their headquarters overseas to lower their taxes? tweet us your answers using #waytooearly. we'll put the best ones coming up later in the show. it really is a complicated, complex issue. >>> want to get back to our top story now. that is about weather and hawaii bracing for its first hurricane in more than 20 years. the weather channel's jim cantore joins us now live to fill us in on what they can expect. and jim, this is really a one-two punch. >> reporter: yeah, we're going to see what happens, obviously, with iselle first tonight as a hurricane, we think it's going to landfall,

chiquita brands and medtronics will move their headquarters to ireland when their inversions are complete. they say they're announcing their citizenship to avoid the tax rate, the highest in the world. the critics say that companies often use loops holes to avoid paying the full 35% corporate income tax. and that it invert and relocate abroad they still enjoy all the benefits of u.s. laws. the critics go on to say if congress reduces the u.s. corporate tax rate it will only rob the u.s. of even more tax revenue and ignite an arms race with other countries which will lower their tax rates, too. for now policy makessers are exploring their options and embracing a bigger wave of corporate defections and inversions. research of companies that have left have significantly increased performance. studying inversion deals for more than a decade, she joins us from chicago to plain more. professor, thank you so much for being with us. this burger king deal, they're telling everyone it is not just about inversion: in fact, they're saying it's not about inversion at all. is it or isn't it. >> this is

medtronic and t tj maxx report earnings as well today. hasuple items of note -- it been 10 years since google started trading on the nasdaq. google ipo. does not seem like that long ago. leavitt, heur turned to me and said what is it worth? i got the guess right. i did not buy any shares. that one.you on meanwhile. one other birthday of note. happy birthday to william jefferson clinton. happy birthday, mr. president. that's the brief. >> are you checking on what bill clinton is doing? howe is still calculating much money he could have made on google. >> the gerbil is not working this morning. let's look at other data. equities, bonds, currencies, commodities. risk on continues, future go -- future go up 3. the 10 year yield confounding economists. pound-sterling weaker. complacency, 12.32. , 16, down to 14. the german bonds above 1%. exactly 1.00%. let me go to the monitor, this a correction.h this is the correction in the dow. >> down 4.5% from the peak. >> that is scary. madeis is how much we have up as we consider what we do next. 50%.

there are also insurance companies, a company called medtronic which is a big medical device company has made a deal to leave. walgreens, which has stores, what, everywhere. they are in the middle of trying to do a deal to leave. pfizer in which is another huge company, tried to leave but that deal blew up for a variety of technical reasons house that we are talking with allan sloan about his cover story, positively un-american, at a time companies that are moving overseas, moving their headquarters to dodge billions in taxes. we want to get your thoughts, your questions. mr. sloane, looks like your store that also appeared in the "washington post" on sunday is getting some traction. here is the marketplace section this point of "the wall street journal." the president is urging action to limit inversions. the abominate administration joins the growing debate over u.s. companies -- reincorporating overseas, urging lawmakers to pass legislation to limit the moves. what can congress do? what can congress do? >> guest: congress can you actually two things. they can do something very qui

reporting their latest results including hewlett packard, sales force.com and medical equipment giant medtronic. $2 billion was paid for the nba la clippers. the new owner gets to meet the players and fans. many head off to college, force magazine has the best and most affordable colleges. get your business news on cnbc. >>> the phils jumped out to a big league against the giants. could they hang on for the win? see what happened coming up in sports. >>> wish we could hang onto sunshine. >> that would be nice. we see breaks in the afternoon. if you're in the poconos and lehigh valley mow, mainly seeing showers. i'll let you know what to expect for the rest of your sunday coming up. >>> good morning. showers are starting to push into parts of our area. it's a cloudy start but a warmer start to your sunday morning. we'll track storms next week and also humidity is going to return. it are will feel like summer as we head to next week versus fall like conditions. philadelphia 65 degrees, partly cloudy skies, humidity 87%. winds light west 7 miles per hour. most of our region mostly cloudy skies. mo

among those companies, medtronic, applied materials, and burger king whose stock lost about a half billionollars in market cap today while cable networks and forms of connectivity were ablaze with washington outraged over the burger king deal to buy the tim horton's fast food chain. burger king's 11 billion-dollar acquisition would take the third-largest fast food company, one that would move from miami, florida to oakville, ontario, just south of toronto north of the highest taxes in the world. looking to canada's combined tax rates, it's 26%. that is a third less than 39%. but the story is far more complicated than that and adding to the deal the white house favorite obama supporter democratic donor and advocate higher taxes whose berkshire hathaway financing is putting up just about a fourth of the total deal. the same individual who is always crying about rich people in america. say it isn't so. well, it's not so simple, at least. working tonight fighting a widening backlash and a political and media backlash against the deal that almost everyone assumes is another american company doi

it's not pfizer, it's not milon or medtronics, some of these other firms that operate behind the scenes. there's some suggestion in some of the stories that alliance may not have been as anxious to invert, to become the parent company, as some of these others, and that may have played a role as well. but i think the public visibility of walgreens is part of the story. >> and do you think, jared, just to follow up there, because it is such an iconic sort of consumer brand, that it's not necessarily going to spark a whole wave of other companies stopping tax inversions for the same reasons? >> i strongly believe that. if you think that this move by walgreens signals an end or even a slowing down, even a brake path for these corporate inversions, i'd be awfully surprised if that were the case. i think the momentum is going the other way. >> but nonetheless, jimmy p., considering obama is create a bill to even claim taxes saved from past tax inversions and when you have this flux and play here and political scrutiny, i would think twice if i were a company about to do a tax inversion, would

among those companies, medtronic, chiquita brands, applied materials and now burger king, whose stock lost about a half billion dollars in market cap today. while cable networks and all forms of connectivity were ablaze with washington outrage over the burger king deal to buy canada's tim horton's fast food chain. burger king's $11 billion acquisition would create the world's third largest fast food company, one that would move its headquarters from miami, florida to oakville, ontario, just south of toronto but well north of the highest corporate taxes in the world. politicians and media mavens immediately looked to canada's combined local, federal and state tax rate. it's 26%. that's a third less than the u.s. combined corporate rate of 39%. but the story is far more complicated than that, doggone it, and add to the deal the revered warren buffett, democratic donor and advocate of higher taxes, whose berkshire hathaway financing is putting up just about a fourth of the total deal. the same buffett who is always crowing about rich people paying more taxes, investing in america, say it

that africaneve entrepreneurs in the next few join the legs of general electric and medtronic and others to deliver the next generation of health care solutions and not just the recipients of aid but owners of trade. development theynity executives -- think like this -- i have to put on my american accent -- we are not the kind of organization that does this -- that gives them fish, we teach them how to fish. -- whation to that is if i don't like fish? what if i want steak? is, sugar daddy relationships like this one are unsustainable and rarely stand the test of time. a relationship between equals a fighting chance, thank you. [applause] >> all right, we know the kind of lady this one is. who up, we have jane otai, i have profound respect for and the kind of work she does. we were on a panel earlier. touched by they direct service work that jane does and how she always centers the people which she will do again today for you. she is a senior program advisor opago which is related to johns hopkins. she likes cooking but she cannot follow -- find the ingredients in western africa for amer

medtronic, u.s.>> yes, but the bottom line is profit margins and ability to grow their business organically within themselves. each of these operate in a business where they command fairly significant profit margins that are the best in class operators whether it's on the i. t. outsourcing and consulting side, the medical products side or the banking side, domestically oriented in the case of u.s. bancorp. even of them command a strong profit margin position. that allows them to create cash and turn it right back around and invest in their business to drive the revenue and earnings base. it doesn't require extreme economic growth, it doesn't require 4 or 5% economic growth. they can do this with 2% and still at the end of the day produce very similar economic returns for shareholders. at the same time, you're paying very reasonable valuations for all three of them. liz: well, by the way, 4 or 5% economic growth, we just had 4% at least for one of the readings for the quarter. jason, thank you so much

medtronic with cavidien was record-breaking when it was announced in june. but the ink in the record books had barely dried when abbvie had announced on friday to acquire shire for almost $55 billion. according to the july 15th edition of "marketplace," and i'm going to quote here, what's going on now is a feeding frenzy. every investment banker now has a slide deck that they're taking to any possible company and saying you have to do a corporate inversion now, because if you don't, your competitors will. the congress has been aware of the add version virus for a long time. in fact, it passed legislation purporting to solve the problem a decade ago. but the underlying sickness continues to gnaw away at our economy with increasing intensity. the american tax code is an anti-competitive mess. accountants, lawyers and fast-buck artists looking for tax shelters feed off of it. this mess is driving american investment dollars overseas. and according to the joint committee on taxation, it is costing american taxpayers billions. on a bipartisan basis, the finance c

benefited from trades involving another inversion deal, the merger of medical equipment maker medtronicingith ireland based covidian. spokesmen for both say they didn't make the trades themselves, a job politicians typically assign to financial planners. >> 55 companies so far have taken advantage of inversion. the are administration called for anti-inversion legislation with a retroactive effective date though it's likely to have a problem of getting something like that passed through the house without comprehensive tax reform to go along with it. >> thank you so much. >>> so what, if anything, will congress do to stop corporations from exploiting this legal loophole to lower their tax bills? joining me is vermont's independent senator bernie sanders. senator sanders, thanks for joining us. you've been an outspoken critic of these kind of uses, exploitation, whatever you want to call it of the tax code for years. so have many other democrats in congress. i guess the big question is, why has nothing been done to stop this from happening? >> well, i will give cut short and simple answer is

medtronic didn't have a good quarter and i think st. jude is a buy, buy, buy. go to mark in wisconsin. mark! >> my stock is golar. glng. >> boy, i am not paying up at these levels. i think you have to wait. sometimes you have to say it is too high. larry in minnesota. larry? >> boo-yah, jim. >> boo-yah, larry. >> i'm just wondering about eog. >> as oil goes down people start freaking out about eog. will oil hold at 93? i say start the position in eog, and i bless it. ed in connecticut. ed? ♪ ♪ >> hello? >> ed, you're up! >> jim, how are you doing? >> i'm real good, ed. how about you? >> doing great. listen, i want to know what's your feeling on the future of fuel cell, fgcl? >> fuel cell. these are total speculation stories. i can't go there. i've got a lot of solid companies that have really good fundamentals and are inexpensive. i'm not going fuel willcell. go buy first solar. i blessed that one and that's a winner. let's go to steve in new york. >> cramer, how's it going? >> boo-yah from staten island, man. how's it going? >> i could use staten island going.

medtronic has said that because of the deal, they will be able ininvest $10 billion more capital expenditureses because of the flexibility that they gain as a non-us company. thejust had the clip from ceo of waste management. he had to pay 44% in taxes to bring that money back into continental united states. the u.s. companies have to pay or cost toy a next bring it back into the united states, either to investors or plans and research equipment. >> so why would they do it? >> we all take advantage of --tever tax loopholes or tax would there be an unintended consequence? thatere might be a rule stops this, could they force countries to hurry up and do more inversion deals because they think there might be reform next year? that could very well happen. future, it'seeable not very likely that you will see a lot of difference in tax policy. there needs to be consensus. tax rules today are in place because of certain companies benefit from them. it will take a lot of analysis and a lot of lobbying to get a new tax code. >> you bring up really good points. might see ahat you rush toward more inver

as opposed to medtronic.t walking in there and purchasing it everyday. >> do we believe the part about the consumers? jack lew has been making a lot of noise about tax inversions. the president has said some things. some democratic senators and congressmen have had some things to say. if the public paying attention as nebulous as a tax inversion? >> it depends. it is not just isolated to consumers seeing the news and then maybe thinking about going elsewhere. there are unions that were pushing the company not to do this. there were democratic senators urging the company not to do this. whereuld see a situation those forces, not just the mere fact of walgreens being based thosee the u.s. from of political forces coming to bear on consumers and urging them not to shop there were making them question. >> what part of walgreens' decision might be fear that any action taking in washington might be retroactive? >> that is certainly out there. potential for retroactive legislation. congress is talking about that. re

you look at medtronic, they need the product line. vvie. you find a good merger partner.s to overseas cash and it is not locked offshore. you need that for investment in the u.s. and elsewhere. >> there is still a distressed. matthew levine doing a terror tearof kinder morgan -- -apart of kinder morgan. >> that is the reason for tax reform. when you find firms changing corporate structure of location for tax purposes, the tax code is interfering with the fundamentals of the economy. that is bad tax policy. >> what does douglas holtz-eakin do with the double tax dividends? >> get rid of them. any double taxation is a hindrance. we need to remodel the tax code for the times we live in. >> where should the corporate tax be? where do you want to be? >> i would like to see that 15% to 25%. 25% would at least get us back in the game. >> maybe they will get it done by new year's. maybe not. >> tom, just checking the premarket right now. walmart is down. 's is up in the premarket. for >> itere looking to be up. -- for it to be up. >> retail is very tough right now. the core custo

banana makers and medtronic will move to ireland this year when their individual mergers complete. many companies renouncing their u.s. citizenship to avoid the u.s. corporate income tax rate of 35%, the highest in the developed world. in canada, it's 15% and ireland, only 12.5%. critics say company often use loopholes to avoid paying the 35% corporate in scum tax and if they revert and go abroad, they enjoy the u.s. laws. it will rob the u.s. of more tax revenue and ignite an arms race with other countries, which willower their tax rates, too. policy makers are bracing for a bigger wave of corporate defectses and inversions. >> tax dodging is more judgmental and implies something negative here. inverse is preferred language. >> is this a good move by burger king or is it back firing? >> i think not a good move in the long term. it will save tax money and excited the stock markets in both the names. in the long term, it's bad, because i can anticipate that mcdonald's commercial, burger king of with a country. >> people are taking to social media saying they are not going to buy a w

basically polish the tax cut, to stop things like loans to buy overseas companies. , you know, medtronicould set deals down. stuart: don't have to go to congress for this. >> that's right. pretty dangerous stuff. stuart: thank you. we talk a lot about the boom in whereabouts technology. my next guest wants to be a part of it. he has created a smart watch that vibrates when it senses you are dozing off in the middle of the day. my guest is 17 years old. this ceo of spark watch. that is the wants. now what does it do for me? >> it keeps track of your active motion throughout the day. immersion data. it compiles into an algorithm. using an algorithm you can actually protect the unique pattern. so when you walk into a classroom during a lecture or you go into your office and those off during working time, it can remind you to keep alert and keep awake when you need to. stuart: it does is, vibrates. it tells a, a, wake up. he should not be sleeping in the middle of this tv show. >> right. it may make it so that people around you would not notice if it went off but make sure that it does enoug

jude, a good company, they feel under pressure because medtronic is inverting. i know edward life science, a great company, not worried because they feel they have a better mouse trap. it is case by case. >> do we have time to play what eaton told you last night? we don't have it, but we'll get it. pressure is building on the tax inversions. >> yes. one of the things that sandy cut cut cutler, it was a tough interview, but that's what happens. >> we can play it quick. this is what the ceo of eaton said. >> in every public setting since may of 2012 announcing the cooper transaction, we emphasized it was not the plan or strategic intent to divest the vehicle business. what i call in inversion mania, there's a number of investors who indicated they thought it would make sense for us to lay the ground for someone else to invert their business. that's not. our intent. >> not their intent. >> companies got the same nail drop of other dublin companies. i've been there, i never saw the eaton plant. there's not one. it's a mail drop. put people in there, and you is a mai