for "nightly business report," i'm meg terrell. >>> in the uk, fox got approval to buyky, the green lightemoves the last hurdle for fox as it competes with comcastor the british broadcaster. the approval came after a long, rery review. last night we reported that fox sweetened its offerky for with comcast following just hours later with a highe offer. >>> now the other big deal news of theay was broadcom's nearly $19 billion acquisition of software compa ca technologies and this takeover was not expected at allecause it takes the chip manufacturer in an entirely new direction and that may be why shares of broadcom fell nearly 14% today as investors struggled to understand theionale behind this purchase. meanwhile, ca shares soare by 18%. aditi roy has more now on this rather headscratching get together. >>> the deal baffled many wall street analysts. reaction was swift as analysts questioned why a semiconductor company is buying a software firm. >> this has been their playbook for the last ven, eight years, but you know, that's not what i think instors want, if you go just to put things i

we have full team coverage throughout the hour and all of the big names, meg terrell, and kate rogers pulling double duty and julia boorstin on electronic arts plus we're pulling out all of the stops for the big kahuna, amazon falling a bit before jumping to touch an all-time high as wall street digests the earnings bit and the whole gang is here, fast money friend gene munster and courtney reagan will be parsing through the headlines and we have top technician chris barron with instant reaction on the charts amazon, the last of the bank stocks to report, and the touching an all-time high any gunning to be the first company to be worth a trillion dollars in market cap. the stock holding up much better than its fears in netflix and both getting crushed and not exactly killing it after hours do you keep buying amazon here and is fang losing its dominance? guy? >> the answer to the first question is yeah, i think you do if you look at amazon's quarter and we were talking before the show 5.6% and distributors are looking for 3.2% and it's 20% of the revenue and last quarter was 18% and th

"nightly business report," i'm meg terrell. >> as you know by now, it was a a very busy week for earnings. as boban p reports a few key issues have emerge >> we're just past halfway point for second quarter earnings. al trends already coming into focus. even with high-profile misses from the likes of facebook earnings and revenues from second quarter are higher than the ted and estimates for third quarter are holding up and that is good news. earnings growth isunning above 22% and revenues up almost 9%. there's several subtrends that are apparent so far. first, companies missing the numbersgely because of higher cost are mostly those companies exposed to the steel and aluminum tariffs like general motors or whirlpool. second, there's a split between those who can afford to raise prices due to higher cost and thoseho can't, like colgate and palmolive who worthed this morning. those who can't face margin erosion. e.at's a pr third not all the same, some companies provided higher guidance. that's a good thing but not enough to impress investors. look at northrop grumman. the dollar an issue,

meg terrell has more. >> it's tall order, fix health care not only for the 1.2 million employees for amazon, berkshirewa hat and jpmorgan, but also aimed to create better blueprints nationally. even the name of the company isn't mean. they've been referring to it as abj for its three founding companies. its independent, based in boston and not for profit. some is known about the enterprise's mission. and for recent speaking ewpearances and previously writing in theorker and elsewhere, there are clues about how th accomplish it.e to the goals, they spell them out recently at a cnce in aspen. >> i get to have a million patients that i as a doctor get to add to my responsibility. and my job for them is to figure out ways that we're going to drive better outcomes, better ictisfaction with care. and better cost suncy with new models that can be ink baited for all.al >> that is aorder. but you know, what they're saying for me is resourc be the problem. uman behavior will be, and achieving scale am be. >> he laid out three sources of waste in the system. high administrative costs, secondng

meg terrell has more on the results here. what are they showing? it soundedrosing for the stock.ened? >> it's important to note that the stock had u run into these results and moreover they were confusing, but on t basic level, the highest dose of this experimental alzheimer's drug was swn toeduce the progression of alzheimer's by 30% cpared with placebo. on top of that, the drug was also shownle to the plaque from the brain that are associated with alzheimer's disease. experts in theield say this is very important. those two things appear to be linked, that removin those plaques had an effect on the disease progression. it's importa to note that patients were still getting worse and this is noim oving the symptoms of alzheimer's and it is slowing the declinend the ability to think clearly, guys. >> might that be why the stock did fall in today's trading session? you did pointut the big run-up that it had, but the lack ofar y on those results pain hit the stock. >> yeah. well, it wa expected that it wasn't going to improve the symptoms of alzheimer's disease. we already knew that

for "nightly business report," i'm meg terrell. >> time to take a look at today's upgrades andowngrades. we begin today with nucor which was upgrade fromei sectort at key bank capital markets and the analyst there cites the prospect for infrastructure spending. price target $77 and it rose to $67.82. apple increased to $232 to morg stanley. ahead of the earnings out next the service c business which is a big focus for investors right now. the rating remains overweight. the stock rose a fraction today to 193 even. >> morgan stanley hiked its price target on ahabet to 13.25 following the earnings report last night. theuarterly results suggests there is still a lot more growth ahead. the ratingemains overweight and the stock rose 4% to 1258.15. coverage of eog resource was started as a buy rating at mizuho. it is called the applel of the industry. the price target is $173, and the stock gained 2% to $125.62. still ahead, why the white house is sending billions of dollars in emergency aid to farmers. ♪ >>> the department of ns to give now p $12 billion to farmers and ranchers hurt by tariff

. >> pfizer shares higher today after the company raised prices on dozens of drugs meg terrell has the details. hi, meg. >> hey, michael. remember when donald trump remembered drug prices come down drug makers didn't appear to get that memo with the number of companies raising prices on their medicine to kick offer the second half of the year. it was less than two months ago that trump unveiled its blueprint to lower drug prices you may remember biotech and pharma stocks jumped that day. then have since continued to appreciate well, then the president made another promise about drug prices >> we're seeing a big tremendous improvement, and you're going to have some big news i think we're going to have some big -- some of the big drug companies in two weeks, and they're going to announce because of what we did they're going to announce voluntary massive drops in prices. >> that was may 30th rather than a voluntary massive drop in drug prices, what we've seen is basically business as usual. just this week in the first two days of july according to wells fargo, there are 104 price increase

meg terrell. >> thank you meg, facebook taken taking down the fangs but will amazon save them the companyings after the bell how to tradehastk xt tt ocne >>> time now for trading nation. let's look at amazon falling nearly 3% and tracking for the worst day in a month this ahead of the earnings after the bell how do you trade amazon into the marc david is with cowen and mark with strategic welt partnering mark what are you doing. >> amaze isn't a must own in any portfolio. we like them ahead of the earning. industry trends are strong company fundamentals good. consumer welt has never been higher household des is service is below the historical average the consumer has the ability to spend and amazon will be the primary beneficiary of that spending tp it looks like prime day was jet yet another success. estimating 3.2 billion in revenue up from $2.4 billion last year. they have now over 100 million prime subscribers and they spend as much as five times as puch and then awk owe s, the main operator of revenue. q 1 was up. >> aws stands for amazon web services cloud business, making a ton of

meg terrell is joining us with the latest hey. >> it was an about-face you don't see often from drugmakerspfizer agreed to reverse prices on 40 of their medicines following criticism from the president. after an extensive phone conversation between the ceo and trump last night, they agreed to delay the price hikes to give the president time to implement his drug hike plan some analysts like alex arfe say it garners goodwill and pr from the president who applauded the move in another tweet last night to say he hopes other companies do the same. but others like suntrust john boris say it sets a precedent for less drug pricing leverage for drug companies he says the roll back prices amount to $150 to $300 million in sales for pfizer. in looking forward, the question is will the president continue calling or calling out drugmakers that have implemented price hikes? if so, next to the cross hairs could be cell gene that raised the price of drugs by 5% according to piper jeffrey, this price has more than doubled in the last decade. and pfizer announced the reorganizing into three internal units,

tiny bit in the after hours and sky down marginally and now back to you >> thank you very much, meg terrell. >>> carrien, i turn to you because taking a look at how sky is trading and it is trading above this raised offer already. >> correct >> already it's not a surprise and i'm wondering if there was a tiny bit of disappointment that the offer wasn't higher than this. i don't know i also would note the place holder offer and they just, you know, want to sort of be in the game and there's a lot more to come, we can see, but even where it started, though, which was many pounds ago, i think what was the original -- or, i don't know, 11, maybe. >> this is up a lot, but i think if you can buy it at about $14.9510 it's probably interesting. i think you have a floor there. >> and you will buy it, meaning if one could buy it. and it is likely the bidding war will continue. >> right, and if it doesn't, there is a floor there >> yeah. >> and again, i get the sense that the bidding would go higher here because comcast could just decide that sky is a very important stra tetegic piece fo global empire

we have full team coverage throughout the hour and all of the big names, meg terrell, and kate rogerse duty and julia boorstin on electronic arts plus we're pulling out all of the stops for the big kahuna, amazon falling a bit before jumping to touch an all-time high as wall street digest

. >> meg, thank you very much for that meg terrell at hq.egas sands and mattel we'll be back in aomt. men at the marine mammal center, the environment is everything. we want to do our very best for each and every animal, and we want to operate a sustainable facility. and pg&e has been a partner helping us to achieve that. we've helped the marine mammal center go solar, install electric vehicle charging stations, and become more energy efficient. pg&e has allowed us to be the most sustainable organization we can be. any time you help a customer, it's a really good feeling. it's especially so when it's a customer that's doing such good and important work for the environment. together, we're building a better california. >> earnings alert now on paypal, and the stock is lower aditi roy with the numbers. >> hi there, sara. coming in at 3.86 billion and that's a beat of 3.3 billion ets, the company missed on q3 revenue guidance and came in light there which could explain why shares are down a little less than 4% at the moment remember, paypal mad

let's get to meg terrell for market flash. >> another example of the amazon effect amazon web services is reportedly considering selling its own network switches for business customers this would affect companies like cisco juniper networks and f-5 networks cisco is down 2.2% juniper down almost 2% as well the information reporting that amazon web services plans to undercut cisco andothers on price by potentially as much as 70% to 80% here. bill, back over to you. >> all right, meg, thank you meantime in the market overall the nasdaq hitting a new all-time high today. the dow closing in on a triple-digit rally, back above 25,000 as you can see. once again the markets ignoring the dramatic in d.c. and overseas surrounding the hacking of the 2016 election are investors simply laser focused on earnings season joining us to discuss, eric marshall and peter anderson, chief investment officer at anderson capital management. peter, if you didn't look at the market and just saw we have indictments against 12 russian intelligence officials and all that's going on otherwise today, then the earni

company to delay some planned price hikes now the ceo speaks out about that decision and did so with meg terrell. >> it was pretty shocking when it happened. you almost never see drug companies actually reverse price hikes under pressure, but that's just what pfizer did at least temporarily after president trump singled the company out in a tweet saying "pfizer and others should be ashamed that they have raised drug prices for no reason. i spoke just now with pfizer ceo ian reed for the first time since then and asked him about what happened next he said after seeing the tweet, even before speaking with the president, pfizer decided the right course was to defer the price hikes "because we wanted to have a positive relationship with the hill and the administration as we go through this blueprint." now, trump introduced his blueprint to lower drug prices in may, and reed said today he thinks it will be positive both for patients in lowering prices and for pfizer in enabling patients to better access its drugs. he focused specifically on changing the drug rebate system. those discounts paid by man

meg terrell has the details. >> this really isn't something you see often for drug makers. typically they try to hunker down and wait out criticism of their prices and nothing changes. not so this time president trump criticized pfizer earlier this week in a tweet after they raised the price of fo40 of their medicine. investors have largely become inured to these type of threats. last night trump tweeted again saying he'd spoken with the ceo and pfizer had agreed to roll back its increases he applauded pfizer and said he hopes other companies will do the same pfizer said it will delay the increases until the end of the year or until trump's drug pricing plan takes effect. the thing is will trump do the same to other companies? one that could be in the crosshairs if he does is celgene who raised on two of their medicines this week. >>> pfizer announcing a plan to split into three units what's behind that and how would that work? >> well, pfizer has been operating as two units up until now. its innovative medicines on one side and essential or older drugs on another the reaso