meg, thank you meg tirrell. mean, it sounds odd to say that they're going to try and reel back or challenge unconscionable -- i mean -- >> yes, but i think -- listen, i share his opinion. if i had a pen, i would write the percentage of this getting through on a piece of paper and it would be a zero i don't think this happens i mean, they can't get anything done so why do you think this is going to happen? >> all right. >> i agree i do think it's d.o.a. i think, though, that the ability to negotiate drug prices really important thing, and i know trump has been on that. i mean, it's a very powerful lobbying effort, though, to try to prevent that. i'm sure but if that were to -- if that were to take place, to me, the pbms, the pharmacy benefit managers, i mean, it has to be terrible for them. absolutely terrible. the more different drugs that they touch and recommend and sell, any pricing pressure on that, terrible for them. >> amen. we've talked about that before 100%, you saw express -- not to pick on them, but t

ais i'm meg tirrell. check out shares of puma biotech.da approved puma biotech's breast cancer drug, sending the stock up more than 10% in the after hours. off a huge move earlier this year the stock more than doubled leading into this fda decision getting the fda go-ahead on the breast cancer drug, guys, sending puma up in the after hours. >> thank you, meg tirrell. >> i love puma it's a name we've talked about a lot on the desk. this is a story i stick behind oncology is the place to be. these guy are obviously doing well. >> trade, guy, on puma up 110% in the after hours. >> i know it's got to be -- you stay with it. >> really? >> probably a 32% shortage instead of saying this is big news this was a $23 stock i think in may. to think it can't move, continue to move from here is a fool's errand people might shoot against this. they shouldn't the stock can go higher from here. >>> let's get another check on netflix. a minute away from the conference call getting under way. the stock was still up by more than 10% solidly here in record te

quiet here but there is a pina colada waiting for me after i get off air, o i'm going to enjoy that meg tirrelln key west, florida, where she is thinking about earnings next week those stocks sizzling in the summer heat. we are watching the ivb. professor kyle has a way to do it for less than $5. >> options are inexpensive and we have a lot of catalysts coming up and that could set up for a good time to buy a call. you're looking for situations where you have an identifiable catalyst you're looking for situations where the options are cheap. and, finally, this is the kind of approach you might want to use if you're looking for a stock replacement strategy i was looking at celgene it seems to have started to move after basically being sideways all this time. so right now we can actually take advantage of these low options prices look out to september. you can buy the 140 calls and spend $3.80 for those. obviously, relatively small percentage of the current stock price, much less than the recent move we've seen higher this is a way to make a bullish bet that will capture earnings, but it will cap

. >> fair enough get you in just one bhoemt breaking news in the biotech sector meg tirrell joins us appening over there, meg? >> highly anticipated data coming out from vertex's pharmaceutical on their drug combinations to treat cystic fibrosis they look to be surpassing what analysts were looking for here there's a key measure of lung function and how well the three drug combos improve breathing for cystic fibrosis. improve breathing by 9.6 percentage points and 12 percentage points. now, just to put that into context in a preview nye michael yee said microsoft was looking for 2.5 percentage points and we're seeing over 9% for vertex pharmaceuticals that stock has been halted and we'll look for to open at 4:20 looking to extend treatment to 90% of patients other. back to you, kelly >> vertex has been one of the best performing stocks in the s&p this year. i was reading someone describe how it's revolutionized cystic fibrosis treatment are you saying this opens up yet more opportunity for them? >> they have really been working for decades to expand treatment options for cf patients.

meg, we'll come back to you later on meg tirrell covering the shkreli trial.ak some of the auto part stocks really getting spanked as o'reilly guides lower. looking atnegative comps previously guided up 3 to 5. thseiodoofing up off the lows e ssn wn 30p we're back in a moment. where can investors find the best opportunities traders weigh in at tradingnation.cnbc.com more "squawk on the street" coming up. >>> let's send it over to rick santelli now at the cme group in chicago for the santelli exchange as always rick >> thanks, sara. i would like to welcome my second first guest of the week, david ator thank you for taking the time. >> good to be here >> all right later on today we get the minutes to the mid-june fed meeting. do you expect anything in the minutes that hasn't been discussed or priced in by the markets? >> well, yes, of course, we're going to be looking in detail for and i think the first thing is the specifics of the timing of the balance sheet reduction it's a question of september or december, which i think is in conquenshal nuance so we'll get

meg tirrell joins us from the front lines. >> good morning, becky we're here in key west, florida.lorida was one of the states that had some of the locally transmitted case of zika last year they weren't here in key west. they were in the miami area. but they do have the mosquito here that transmits the zika virus as well as dengue. and even though this is one of the most vigilant mosquito control districts in the whole country, they've only been able to suppress the population by 50% to 60% mosquito control director told us that's not enough for this mosquito >> this is a very robust mosquito that's causing crazy diseases that are very impactful on people's lives. so, it's extremely important that we're looking at controlling that type of mosquito, down to as minimal as possible >> so they are trying new ways to control this mosquito one of those is a sterilization technique, essentially using a bacteria that occurs in nature that interferes with this kind of mosquito's ability to reproduce. now, there have been some releases of these mosquitoes here 25,000 of these male mosquitoe

results, julia boorstin will bring us numbers from at&t, seema mody is covering wynn for us and meg tirrell doing double duty and jackie deangelis with results from u.s. steel. guys, thank you all. see you in just a moment as these start to come out. joining us we have senior markets commentator michael tolly, cassandra president of bell rock capital and rob cox with reuters breaking views. first of all, on the markets, pretty strong sessions companies like caterpillar up 6% and mcdonald's 4.5% and freeport-mcmoran up and tractor supply. >> some lag yards. >> the big stuff has been doing all the work, the f.a.n.g. stocks actually to the downside, of course, with alphabet giving up after hours caterpillar and mcdonald's showed how good things have to be the market is happy to say yields are higher, i'm going to buy financials and sell technology stocks on balance is okay when energy is rising all-time highs are a bullish factor, not a bearish one, and so you have to say it's a good thing you got there, but you're seeing the energy flag a little bit in terms of buying power. >> cassandra, bri

meg tirrell following that for us. >>> the u.s.etected a north korea ballistic missile launch today and hans nichols joins us with the latest. >> reporter: they are doing the analysis trying to figure out how far this missile theoretically could have traveled they shot it straight up in the air and let it come down that goes 1,000 kilometers and you tease that out for how long and how long it was aloft, it means it re--entered into the atmosphere, and if you tease all that have out you could hit major u.s. cities, denver, seattle, los angeles, and then you factor in the fact that the earth is moving, it's spinning, you could potentially have some major east coast population centers in target, in range. we know the chairman of the joint chiefs of staff general dunford has spoken with his south korean counterpart talking about military options guys, i have to say rarely do they publicly acknowledge talking about military options it's even less so that they say they are doing it with an ally, in this case south korea everyone here in

. >> look amazon -- >> meg tirrell joins us to talk johnson & johnson and also the first, first oh, boyis is a bonus for us bonus for viewers, bonus for everybody. wilfred frost has more on bank of america earnings. as promised you went through and looked at the most minute details of this. >> i have, indeed. a bigger bonus to come when meg comes on but let me go through some of the geeky numbers i love first of all as you already said in terms of eps, 46 cents a share. revenue 22.8 billion versus expectation of 21.8. the core part of the business, the consumer and business bank about 45% of their earnings. 8.5 billion versus expectations of 8.4 billion so pretty solid number that meant net income within that part of the business $2 billion. does show that they continue to keep costs under control there operating leverage, slowly coming through still for bank of america in terms of the rate hike cycle what does this all mean in terms of net interest income across the whole business up 9% at 11 billion. so you say that pretty solid, better real little than the jpmorgan number which was u

think of it as an app store for your genes the company's ceo joins meg tirrell.e'll combine all of our genetic information from helix with webb [ muted md frank keating joins us toe top tofhe hour to talk health care reform "squawk box" will be right back. >>> he lix, the personal genomeics company is launching an online market place for dna powered products that offer insights into your health, fitness, nutrition, entertainment, family, and ancestry, and meg tirrell joins us with two special guests i'm hoping you're going to be the guinea pig and go through the entire thing for us. >> i have. yeah i've got my full genome sequence and i've started going through this process as well >> have you memorized it that would take awhile you have pi -- >> i can only go about six anyway, today most people might think about genome sequencing as something that gets done in a doctor's office but a growing number of consumers genetics companies are looking to change that and one of those companies is start-up helix. and it's got a secret weapon it was started as the world's la

meg tirrell is covering the trial for us off camera sam goes off. to do that on camera. >> i think there's a high likelihood that sam will express his opinions about that. so there is news in the ongoing martin shkreli trial on late wednesday the prosecutors requested a gag order on both the defendant and counsel. and really counsel for all parties in the case citing comments that shkreli made inside the court house, outside the courthouse and on social media saying that there's a danger that his comments could get back to the jury and corrupt this very carefully and long taking jury selection process. it took them 2 1/2 days just to get down to 12 jurors and 6 alternates the defense has objected to this request, saying that while they oppose a lot of the media coverage around the trial calling it inaccurate and biased that they need the ability to respond to that media coverage so they have asked that the request be rejected. we expect the judge will address this today, this morning in court and we will see what happens there. the prosecution in ad

that meg tirrel. meg whitman stepped down from the board of hp. the move is effective immediately.p bird will take over as chairman whitman will remain the ceo of hp enterprise. and that move comes amid reports that she was being evaluated as a potential ceo of twitter, david. we'll speak across -- >> uber. >> yes >> that board -- or had considered her they have been making calls. >> i don't know if there is real truth to that from their perspective, it checks a box in terms of a woman, a high powered person i don't believe that's going anywhere, at least based on what i have heard and the stepping down from the h.p. board, remember, it's hp inc. >> the closely watched executive search right now in america. hard to think of another one one last check on the markets. dow closed at session highs. up 70 points of course, the earning paz raid has been busy this morning it will get bezyer as we await amazon, intel, starbucks, electronic arts, mattel and more we'll get "squawk alley" in a couple of minutes. playing ] it's here, but it's going by fast. the opportunity of the year is back:

meg tirrell is live in brooklyn outside the courthouse meg?reporter: hey, michelle over the long holiday week, the trial wasn't in session and we did get news monday evening. the prosecutors asking for a gag order on the defendant martin shkreli as well as all counsel in this case this morning, the judge here ruled on that order essentially not agreeing to the entire gag order but getting the defense attorney for mr. shkreli to agree to not make comments about the trial in or around the courthouse and follows friday shkreli wandered into a room full of reporters in a recess from the trial and talked about the case and then afterwards as he spoke with reporters including me outside the courthouse the judge telling shkreli's attorney, quote, all your client has to do is stop talking in the courthouse and around the perimeter of the courthouse and he responded there will be no more commenting by mr. shkreli this morning we got news from the prosecutor saying that several plea offers had been on the table leading up to the start of the trial those

. >>> shares of vertex are surging this morning here's more on that story with megat meg tirrell. >> vertex is up this morning after a huge surge yesterday they have two drugs on the market for soocystic fibrosis. these triple combinations they are testing in mid-stage studies would aim to expand treatment options to 90% of patients with cystic fibrosis. and the results surpassed wall street's expectations which is what is driving the stock so high as a result, you're seeing a lot of upgrades and price target increases from banks including barclays and cowen and leerink now talks about taking over vertex can help patients with cystic fibrosis that didn't have options previously the next step is to decide which regiment to take into the next clinical trials to expect in the first half of next year. could be a few years until we see the regiments on the markets, but these results are driving up the rest of biotech today, 1.3%. so some really good news for biotech, carl. >> what a move today on that, thank you so much, meg speaking of moves, dow is not moving a whole lot on the index la

the democrats putting a target on the drug industry with their new so-called better deal plan meg tirrell here to take us inside the numbers >> hey, tyler. bob was just mentioning eli lilly and biogen had reactions neither stock reacting largely bmo points out even though they had a beat in the second quarter, it was driven by older medicines. they also reported on their rheumatoid arthritis drug. that weighing on eli lilly and partner incyte there which is driven by better than expected sales of their new drug for muscular atrophy however, that stock has come down a little bit from those exciting highs earlier due to some management commentary on the call saying that growth of that drug may slow down a little bit as it will be harder to expand to certain patient populations. they did talk a lot about m&a on that call there. back to you. >> all right thanks i'll pick it up, meg let's talk about shares of the ibb and biotech in general the etf is down more than a percent today. how much is washington a part of the equation for the companies and not just the earning data? let's bring in eri

meg tirrell joins us with the details. $32 billion company all of a sudden >> it was already a $32 billionmpany adding about 27 premarket with about an $8 billion move on these results. these were highly anticipated data they had two cystic fibrosis drugs on the market already. those can only treat a portion of patients with cystic fibrosis, just less than half because of the genetic mutations that drive this disease. they've been working on triple combinations of drugs to extend treatment up to 90% of patients. you can see the drugs they already have on the market getting to about 30,000 of the 75,000 patients with this disease. so, these are mid stage study results that came out late yesterday. surpassing wall street expectations improving a measure of lung function by way more than people expected between 9.6 percentage points and 12 percentage points to put that into context, jefferies said anything about 2.5 percentage points would be considered a success here. so that's why you're seeing this stock moving up. >> i wish we had more time to talk about is it the root cause of the diseas

. >> we're kicking off the second half today by focusing on sector winners and losers this year meg tirrellto talk about biotech. >> good morning, guys. biotech is really picking up and really accelerated in june the ibb up about 17% year-to-date yacht performing the s&p and of course that strong performance happening just in the last month or so. there are a couple of things driving this sort of better sentiment. one is drug pricing. a lot of expectations that one of them will come from the government won't be as bad as people had feared. and that's getting a little overshadowed by the whole health reform conversation in general there is some sector location going on out of tech and energy and perhaps back into health care and biotech of course the fda commissioner dr. scott gottlieb is somebody people have been watching closely. he's trying to accelerate drugs through the fda process. and when he does talk about pricing it's through increasing competition. that's something the industry responds to very favorably and of course clinical data is something we're going to be watching closely t

cnbc's meg tirrell joins us with more you didn't write it.>> i definitely did not. >> you caused it, but you didn't write it and i didn't change it you could have gone in and helped me out, could you not >> i respect the authority of the amazing producers of the show >> oh, okay. >> i mean i would have -- >> they're like children, my god. >> there may be something familiar missing from commercial breaks this upcoming nfl season. >> ask your doctor about viagra. >> as for pfizer's erectile dysfunction drug viagra may disappear as the medicine approaches the end of its patent cliff. cheaper generic copies are soon expected to hit the market here depressing the branded's drugs's revenue. viagra hasn't aired a national tv ad since may 15th and the brand didn't participate in the upcoming season and that means big bucks. viagra was a top pharma brand for the nfl. pfizer told us it doesn't comment on future marketing plans for competitive convenients. viagra was a blockbuster drug for pfizer at its peak bringing in billions of dollars in sales. its