the nasdaq slipping two points to 1859. >> meg terrell with cnbc. thank. >>> now your "nbc 10" first alert weather. >>> clouds are out of the picture for us today. we will see lots of sunshine. dress lightly. it could be heating up this afternoon. possibly the hottest day of the year for philadelphia. if you are looking for relief you'll find it on the beach. temperatures in the 70s. that's a live view cape may from the marquis de lafayette hotel. wonder what the traffic is looking like. >> route 309 and susquehanna road. if you're heading home from the shore, we'll check in with shore cameras coming up. >> reporter: i'm matt delucia live in strawberry mansion. we have a closure, 29th and diamond because of a fire that has consumed some properties on the street. after the break we'll tell you more about the firefighting efforts and an effort to get this area back open once again. >>> "nbc 10" breaking news. >>> fire spread to three homes in philadelphia's strawberry mansion neighborhood. firefighters have made progress battling flames over the past

for "nightly business repor i'm meg terrell. >> coming up can an in vestment banker by trade find the next best thing on a pig farm? his story, coming up next. >>> here is what to watch tomorrow. we'll have results from more retailers including nordstrom and kohl's. on the data front, the consumer price index will be out,s in important indicator and jobless claims and that is what is on the agenda for thursday. >> facebook wants to give the low wage workers a pay raise. it will require the contractors and vendors to pay employees at least $15 an hour. facebook wants the employees to get at least 15 paid days off annually for holidays sick days and if they don't get paid patiental leave they move they get a 4,000 dollars bonus, bringing attention to the wage gap in silicon valley. >> japan's biggest carmakers will investigate worldwide, recalling 6.5 million calls, honda didn provide details so this brings it to 31 million worldwid concerns that takata airbags may explode and send shrapnel into drivers and passengers. radioshack has a new owner and standard general was the winner and a

for "nightly business repor i'm meg terrell in new brunswick, new jersey. >> still ahead, are bond mutual funds and certain etfs a bigger risk than you think. what regulators are saying about these popular investments. >>> labor organizers and workers protested outside of mcdonald's headquarters. they demanding higher pay. $15 an hour. mcdonald's said it would raise e starting minimum wage to $1 above the local minimum wage at company-owned stores. the demonstration comes ahead of the company shareholder meeting scheduled for tomorrow. >>> th -- protests come one day after los angeles will increase its city wage. hiking pay to $15 an hour by the year 2020. the current minimum wage is $9 an hour. that measure would require business with more than 25 employees to comply while smaller businesses have an additional year. >>> and one company that recently increased pay for some of the workers is target. that company reported earnings and retch that top -- revenue that topped analyst expectations citing strong demand at the center of the growth plan and increased the full year earnings guidance

meg terrell has more. >> it is designed to be a safety net for the sickest of patients. compassionate use is a system to give access to experimental medicines to those who have run out of other options but it can be complicated for drug companies. deciding who gets to try none experimental therapy that could be in short supply and safety and efficacy aren't understood. >> the current system encourages people to be desperate and trying them out to campaign on the social media and try to call their congressman and i understand that and it is not fao one drug maker has turned to an outside panel to make decision. johnson and johnson is teaming up with a decision of medical ethics at new york university. >> the content of trials expanded access options that are out there and this new innovation and this new approach today is trying to provide a method for patients to be able to look at what is called compassionate use. >> the hope is to create a system that is fair. drug companies have come under fire in recent years as desperate patients have been denied turned to social me

meg terrell reports. >>> it sometimes is referred to aspy for performance. the idea that medicines should be reimbursed based on how well they work. express scripts this the largest pharmacy manager and it has been waging somewhat of a war on the cost of medicines. it started with hepatitis c where they negotiated a discount to provide a regiment from gilead and others and now the focus is cancer drugs for which costs in the u.s. topped $100 billion last year. >> oncology is a hot button topic in terms of the ore all -- over all cost of drugs steadily rising to the point where we're used to seeing drugs well in necessary of 100,000 dollars per patis been along with everything in the drug sector a growing noise around the ever increasing price of drugs. >> the plan has two parts. the first focuses on how well drugs are shown to work in different cancers. dr. steve miller cites a drug called tars eva. it has proven in trials to extend patients lives by months for lung cancer and only a couple of weeks for pancreatic so the plan would reimburse more for the fir

meg terrell got an exclusive tour of the manufacturing plant. meg, run us through. >> mandy, that's right. it sounds a little like science fiction but it's close to becoming a reality. all you need to know is it's a form of immune owe therapy helping your own immune system fight cancer. it will help patients with leukemia that stop responding to other treatments. it takes a patient's t cells out of their body manipulating them in the lab so they better attack cancer and re-infusing them. this requires a whole new way of manufacturing because each patient gets a personalized treatment. we visited the new plant in morris plains new jersey to see how it works. they have a system of tracking a patient's cells all the way from the hospital where they're being treated to the plant. similar to air traffic control. they even track the flights that transport the cells. they arrive packed in dry ice before being sorted to isolate the right cells for the procedure, engineered into super cells and multiplied so they pack a more powerful punch when they retur

meg terrell with stock therapy in the biotech space. >> i go to ibb. just what meg said.always talk about binary situations. bmrn, the one she just spoke about, biomarin is up 40% year to date, ibb is up 20% year to date. the chart looks okay in ibb. i would rather not be invested in a binary situation. >> karen? >> i've been in the same ibi, xpt, we did take some off recently. ran right back to where it was. i would take some money off the table. >> that's the point you have to be worried about. the trade in xbi and ibb we've run right back up into resistance. if i were long i'd be taking profits and i'd get into it on momentum. you have to wait to see if this breaks, especially in xbi, 236, 237 level and breaks it on a closing basis with good volume, then you're safe. >>> coming up, the former ceo of lehman brothers dick fuld breaking his silence after seven years. it's what he didn't say that has everybody up in arms. >>> plus, gold, one trader bet $2.5 million that it would be up in june. back after this in the pits. you, my friend, recognize when a trend has reached

meg terrell has the rundown on all of that. interestingly, although we have big cap tech, cisco is sitting out the rally. folks not impressed with cisco's outlook as cisco tries to turn around and move on to a new chief executive. but you've got the likes of facebook today trading higher on mark zuckerberg's 31st birthday. his holdings in facebook alone right now somewhere in the range of $35 billion with two days' gains. we're also seeing higher for microsoft. apple having a fairly strong day as well. even though you're seeing a big move out of retailers, traders are saying some of that is coming out of retail with all the disappointment. here at the nasdaq you've got perry ellis much better than expected numbers as it's turned around and that is at a new high today. children's place also beating and raising. not getting as big a lift ebay having a pretty good day and amazon not notwithstanding the big boeshl threat from walmart. if you watched my quiz what's the darling? paypal, when it separates from ebay later this year, th

meg terrel has the details for us. >> hey, kelly. the company the u.s.acy benefits manager. it negotiates drug prices on behalf of insurers and turning its sights on cancer drugs and had done that with hepatitis c. they've come under scrutiny for how much they cost. it's an idea of pay per performance. a drug called tar see va. approved in lung cancer and pancreatic cancer. lung cancer shown to extend survival among patients by as much as five months and pancreatic cancer only two weeks. it would pay more for the drug inning lung cancer than in pancreatic cancer. an example of what they're proposing here. another part of the plan paying for more for drugs that work better in patients kind of a personalized medicine model here. shaking up cancer drugs like we saw with hepatitis c. >> what i don't follow is there's an accountability here that's so critical you know, to what we're paying for when it comes to drugs, but at what point do we know it's working? >> that's a great question. express skrips will have to more for diagnostic testing to figure which p

meg terrell. i apologize about that little twist of the tongue.trange to have a rare disease maker, wouldn't it? >> it would be funny. we've talked with a lot of analysts today because there's been an unprecedented amount of trades going on. some of the hottest names are vertex pharmaceuticals. this came up with a note from jeff forge saying it's time for gilliad to pull the trigger on a $45 billion deal. gillead is not the only possible acquirer. other people say j. and j. could possibly be interested. other big pharmas. they have a big sis stick fibrosis franchise. still folks think vertex is one to watch in the acquisition space. another one we're watching is biomarin, another one in the rare disease drug maker space. it's similar to the other and makes drugs for the orphan disorders. that's an $18 billion market cap. this is both a takeout target but also a potential acquirer itself. that's another interesting one to watch. finally we're talking about aread pharmaceuticals. that makes a cancer drawing called iclusiv. it has an activist investo

meg terrell is there and is joining us with a very special guest. meg. >> joe, thank you so much.gorsky. thank you for joining us. >> great to have you here in new brunswick. as you know, this is the home of johnson & johnson. who would have thought 125 years plus ago when the johnson brothers started j & j that we'd be talking about the kind of invags that we'll be reviewing today with the analysts and with you. >> and you're planning on filing for approval of ten new drugs in the next four years, each with the potential to bring in more than a billion dollars. does that assume basically everything in your late-stage pipeline is a success? >> look we're really excited about the innovation that we'll talk today. as you said if you go back since 2009 we've launched 14 compounds. now if we look forward between now and 2019 yes, we expect to have about ten compounds. of course you're going to have some wins, you're going to have some that don't turn out quite the way you expect but overall we're very confident in the ability, particularly based on what we've been able to do over the

meg terrell is looking at the names to watch after the bell today. >> that's right. at 5:00 p.m. ahead of this clinical oncology meeting at the end of this month in chicago. 30,000 people from the community go to this meeting. here's what to watch. the stocks are very, very hot and they have been for years. we are looking at bristol-myers skrib, merck, astrazeneca and juneau. they could be more volatile here. we could see movers there potentially tomorrow morning. multiple miloma with amgen's drug. should i get data on this as well. in breast cancer we are looking at a small company that analysts say is a potential take out target that could be volatile. and always pfizer just got a breast cancer drug approved. there should be data on that as well as lily. a lot to watch and stocks moving. >> thank you so much. >> let's bring in this as this data dumps at 5:00. >> there is so much data it's hard to pick just one. they had holdings and we know the titles are already out. we know what to look for across some of our companies. to mek meg's point which is juneau competit

we begin here with our meg terrell. >> we're looking at sarepta moving higher. biomarin. up 30% in after hours. we got other biotech news. from achillion. it's set to open at 4.35. entering into a worldwide partnership with johnson & johnson to develop hepatitis c drugs. worth up to $1.1 billion. and j and j is taking an equity investment worse $225 million. big biotechnical news. back to you. >>> we'll keep an eye on it. doufs the dow was up. bank of america predicting scary summer. goldman sachs saying the markets are going nowhere. joining me now with his view on what investors should do is alexander freeman, former cio at ibs. welcome to the program. where your putting that $127 billion? >> well luckily a lot of great managers who are investing. you start with the observations people are nervous. why? in a sense they just have to sit in the boat for the last three years and going in the right direction. that's the monetary policy. that's moving in the other direction. they've paddle and asking a question which they haven't asked and that is which way do we p

we have meg terrell on the top players in the space in which companies stand to be market movers on mondayhe futures ahead of gdp data which is just a couple minutes away. you can see right there. call it almost down in the red marginally down about three points. we're back in a moment. >>> welcome back to "squawk box." shares of genesco down sharply. the company blames west coast port-related delays and gross margin pressure. >>> the american society of clinical clinical oncology conference kicks off and first she'll join us right now to tell us which pharma and biotech companies investors need to watch. >> yesterday and today, people will be descending on chicago. about 30,000 investors, researchers go to chicago for this huge conference and more than 5,000 data sets presented on what is going on in cancer. of course the big theme is amino therapy. the big four are bristol myers, merck and astrazeneca. they are on the market with their drugs and people will be looking to see how they work on their own in different kinds of cancer and how they work in combination with other kinds of drugs

meg terrell is here with more. did you talk any synageva? did you tell me to buy that? it was coming. it was actually kind of a surprise. >> up $125. >> 140% premium. yeah that was huge. we're going to bring in ceo andrew witty. sir andrew thank you for joining us. >> it's a pleasure meg. >> so tell us about your strategy that you laid out the next couple of years. some of the criticisms have been they don't know what the focus is. did you lay that out today and how would you articulate it? >> well i hope very much people will not have that concern going forward. so following on from the transaction we just closed with novartis, we've really reviewed our strategy strengthened our focus i think in three key areas. so we're now the world's largest vaccine company, world's largest over-the-counter consumer health business and obviously a very strong pharmaceutical business particularly focused in hiv meds. you put those three together and we believe that sits us absolutely right for what we think is a theme which is really not spoken about enough in pharmaceuticals and hea