meg tirrell in cleveland. >>> another tech mover pinterest.ong user trends and attractive risk reward mark is with us on the other si othbrk. n't go anywhere. hi, my name is sam davis and i'm going to tell you about exciting plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare, you're covered for hospital stays and doctor office visits, but you have to meet a deductible for each and then you're still responsible for 20% of the cost. next, let's look at a medicare supplement plan. as you can see, they cover the same things as original medicare and they also cover your medicare deductibles and co-insurance. but they often have higher monthly premiums and no prescription drug coverage. now, let's take a look at humana's medicare advantage plans. with a humana medicare plan, hospital stays, doctor office visits and medicare deductibles are covered. and, of course, most humana medicare advantage plans include prescription drug cover

for nightly business report, i'm meg tirrell. >> we should point out tt $$572 million judgment that megentioned against the company has just been reduced. the judge conceded this afternoon that there was a $107 million calculation error. he said that will be the last time i use that calculator. i >>> and the a report tonight also that they -- the three major drug clikters mckesson and cardinal heth and bergen are in talks t to pay $1 billion to is settle opioid litigationve j&j is inv in discussions to kibet ney. >>> manufacturing activity in the new york area picked up in october as optimism over business conditions improved. hiw orders showing small increase as didltlt which just recently hit its lowest early three years. >>> and the international monetary fund food is predicting global economic growth will slow 2008 financial crisis.ince it now sees 3% growth overallfo the global economy. 2.4% for the u.s. and 6.1% in china. acrdg to the group, a sharper than expected slowdown in international trade is affecting manufacturing and investments. >>> one factor are the rising trades barr

meg tirrell went to clevelandrto on the happenings inside the crthouse but instead has the story of what happened outside. >> reporter: the jury was selected, theourtroom packed, but just minutes before the rst federal trial over thena on's opioid crisis was set to begin this morning, woror cae of a settlement. the trial was off. ut it's more of delay than a reprieve.four defens, three big distributors and teva reached a settlement with the t ohio counties that were plaintiffs in this trial. it's worth $260illion and adds to the $6 million settlements already reached with four other drug makers. but more than 2,000 cases against drug companies remain brought by cities, counties, tive american ibes, states and others. work towards a broad settlement was underway late last week and over the weekend and this afternoon the state attorneys general leading those talks said they had reached a broadettlement framework with five companies it includes $18 billion inio cashr 18 years from the three drug distributors. $4 billion cash or two t three years from johnson & johnson as well asrovision of

thanks very much, meg tirrell.he dow is down about 535 points still ahead, junk bonds are on pace for the longest losing streak of the user financials are fading but housing has bright spots today, and a big win for the u.s. on trade. we will talk about all of it straight ahead as we head to break, here is a look at retail the xrt down today, on pace for the worsdain me t y orthan a month. "the exchange" is back in two. . is the fund built to sell or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still

. >> as meg tirrell said last hour she wants the apple service just to watch this show aniston is going to the gram and it's working out for her. >> yeah. my wife works at the "today" show, right? they're not looking forward to it there the nats, my washington nats i was a fan of the senators. congrats, go nats. >> "closing bell" is next. >>> welcome to "closing bell." the company set to report after the close. we've got netflix csx also on tap to report and 59 minutes to get you there. >> and i'm wilfred frost good afternoon to you. big miss on retail sales put a damper on sentiment. better-than-expected housing data upbeat earnings trend and concerns over software and tech stocks lower we've been up, down, all around for the markets today. as we stand, though, with 59 minutes, we're higher on the dow, lower on the s&p. joining us for the full hour, from capital usa, keith, good afternoon to you. >> thank you, wilf. >> earnings been strong enough so far or have they been resoundingly strong this week? >> they've been strong so far. i think the markets have been less than vigorous, shal

i'm meg tirrell. we just got breaking news on the u.s. economy in the past 45 minutes. 136,000 jobs added in september according to the bureau of labor statistics. that's less than the 145,000 expected by economists. unemployment fell to a fresh lo. that matches the level in december 1969. and google shopping features a homepage more personalized to your specific prevalences. it will suggest reordering items and adds recommendations based on your google activity. there's also a new price tracker. and apple has production of the iphone 11 by up to 10%. this could validate tim cook's strategy of enticing consumers amid a weakening global economy. apple launched three versions of the iphone 11 last month and lowered the starting price to lt year's iphone 10 r. >> i just bought the ten and i want to get the 11 now but i had a six for like six years. >> oh my goodness. you might have to wait a little bit. >> that low price. >> gwyneth paltrow's go isng to. a permanent goop lab w opening in san francisco next month. it's offering tips on health

i'm meg tirrell at cnbc headquaters. stocks fell sharply following a weak report on the u.s. service sector that suggests the economy is slowing but then stocks rebounded on hopes the fed would be spurred into action to cut interest rates again later this month. the dow posting the biggest reversal in two months. on today's watch list its all about jobs as we get the monthly employment report before the opening bell. hiring is expected to be modest next month with emnt at a five year low. analysts are predicted more than 3 million skilled jobs may open over the nt decade. generations of workers will retire. if you're on the fence about going to college or are looking for a career change there's a path within the industry. more than 60 groups teamed up to form a movement aimed at selling the job gap. google re-signed itdesigned it' app. it's going to automatically suggest reordering items that you previously bought and has recommendations based on your google activity. there's a new price tracker that will notify you when the price drops. >> they can take a helicopter by using

biogen, taking a breather after posting huge gains yesterday meg tirrell spoke to the company's ceo. >> once the dust settled, that biogen's alzheimer's drug is back the response has been puzzled. consensus on wall street is that it's still not clear just how well the drug actually works we spoke with biogen's michel vounastsos this morning. >> the evidence came over time as a ceo i'm reasonably confident. >> really? >> this can lead to market approval. >> some analysts say the chance this drug does get approved means it's hard not to own biogen stock back over to you. >> meg tirrell, thank you. >>> chipotle posting earnings. >> morgan, really strong quarter for chipotle beats, sales at 11%. big part of the chipotle story has been digital growth, up 88% in the quarter, representing 18% of sales ceo brian nickel joined us on cnbc and said the brand is really just getting started when it comes to growing that part of the business take a listen. >> we heard early on that our consumers and our customers wanted more access to this business, to our food and the way they wanted that access

is down 489 points, one component in the green, johnson & johnson, bucking the trend today and meg tirrell has the details on why meg? >> j & j is up after they reach a settlement in the first opioid case, agreeing to $20.4 million for two ohio counties, making it themaker to settle to avoid going to trial. there are still thousands of cases consolidated in litigation they see these settlements to a first step in a broader resolution and extrapolate that the j & j settlement amount could be around $4 billion, much less than the $10 to $15 billion estimated by wells fargo back to you. >> meg tirrell, thank you. josh brown, is this a situation where bad news isn't as bad as it could have been and thuts stock is rallying? >> yeah. you know, when you have some sort of tort action or potential for action, or various attorneys general swarming around something like this, then you compress it to this and get some sense, okay, this is going to end. we're going to get through this. that's something you can read into this. >> let's have a look at the volatility index mike, you've been digging into t

. >> meg tirrell just talked to the ceo, has more on what is an important story this morning good orning> good morning. talk a reversal. jpmorgan out with a note saying shocking, simply shocking. i did talk with michelle, the ceo of biogen. there are already questions about is this the data driving this, the fda taking a different tact he said this is the data we're following the science here there was a futility analysis. they looked at the studies at an interim basis. as companies always do and try to figure out if the drugs la s look like they will k you saw the drug take a massive hit on the news. everybody thought this drug was dead and even more than this drug itself, the whole hypothesis that targeting am lloyd beta plaques was the right way to go after alzheimer's disease. i talked with him and the lead of the program who said the science drove this it is extremely rare after a futility analysis suggests the drug isn't going to work, it actually will work. so the company saying they're going to file for approval in early 2020 after guidance from the fda. the ceo telling me they d

. >> as meg tirrell said last hour she wants the apple service just to watch this show aniston is going and it's working out for her. >> yeah. my wife works at the "today" show, right? they're not looking forward to it there the nats, my washington nats i was a fan of the senators. congrats, go nats. >> "closing bell" is next. >>> welcome to "closing bell." the company set to report after the close. we've got netflix csx also on tap to report and 59 minutes to get you there. >> and i'm wilfred frost good afternoon to you. big miss on retail sales put a damper on sentiment. better-than-expected housing data upbeat earnings trend and concerns over software and tech stocks lower we've been up, down, all around for the markets

. >> thank you all robert frank, meg tirrell and bill griffeth. >>> the battle of the black list with u.s. adding some of china's unicorns which companies are being targeted and why they pose a threat shares of target hitting another all-time high, up 67% year to date the best annual performance since 1997 we're back in o.tw . >>> welcome back tech is becoming a bigger pawn in the u.s./china trade war as the u.s. moves to black list some of china's most important unicorns let's go to deirdre bosa in san francisco for a look at which companies have been singled out here. >> this time it is some of china's most promising up and coming tech startups like huawei before them they are critical to china's tech dominance and particularly it's artificial intelligence ambitions now they also have ties to major u.s. institutions and investors that could now be threatened sensetime, backed by softbank, fidelity, qualcomm, partnered with mit on an a.i. program, now mit tells us they're reviewing the relationship and will modify any interactions as necessary. take megvi, it has filed for a $1 billi

meg tirrell joins us from cleveland, ohio, where the federal trial was scheduled to start this morning it seems like a pal tree some at the end of the day for the drug companies which is good for shareholders >> i get the sense the settlements are not the end. i realize a settlement is a settlement, but i think the numbers being thrown around here, if j&j who doesn't like to settle ever, and usually is the guy an entity that is standing in there and fighting 'til the end, except for the fact as you hear about hey we'll trade 4 billion in exchange for 50 billion in opioid cases up against, we also think the pr around settlement may be very good for us, this is the kind of thing that you start to do the calculus on, except for the fact that we have' only heard from five states and i think this is a case where we'll see much bigger numbers it's a very emotional public issue. >> teva down 47% year-to-date, off of the news it popped 15% today. it's coming from a low base. i'm not saying the sky is clear but if you're going to play this for some sort of a news event, maybe you play it throug

meg tirrell. >> we had a good one not long ago in bed, bath&beyond and we're looking at abercrombie todaylls for 32 cents and nearly 2700 trading on the day and pretty active and look at the short interest there, scott that might be another one of the names that i think we get a squeeze to the upside with any positive news because that i'm in the calls until the november expiration i like this very great risk/reward in front of us there. i think that is awesome. we also have some activity, we heard jimmy talk about cleveland clips, i would give you volley because they are aggressively and they -- or 7,800 of the december 14 calls so these are decently out of the money and very inexpensive and 9 cents and 10 cents but if this stock moves to the upside like a freeport, the options could start to work so i bought these as well. i like that there. a lot of the paper in fxi and a lot in the eem all very bullish so there is something going on that is affecting some of the miners and the metals and that is something to watch in the next couple of weeks. >> appreciate it, pete that pete najarian.

meg tirrell has more from cleveland. >> reporter: the jury had been selected, the courtroom is packednd in less than ten minutes this trial here in cleveland, it is over. these four defendants reached a settlement with just these two count gliz owies in ohio there was walgreens who was the fifth defendant hadn't reached a settlement however, they are being severed from this trial and they're going move on to what comes next here no trial today this is just a settlement with these two counties it is not a broader settlement in the thousands of opioid cases brought against industry, seeking to hold them accountable for the opioid epidemic. they have been consolidated centered here in cleveland we are hearing that the potentially may benews coming later today from state attorneys general, which could speak to a potential broader settlement numbers we're seeing this morning pertain to these counties it is about $260 million, $250 million in cash from the three big distributors, mckesson, amerisource, bergen and cardinal health about $20 million in cash from teva another $25 million the wa

meg tirrell joins us with more hey, meg. >> hey, joe.tranger to the courtroom with investors bracing over talc powder and opioids. a philadelphia jury said j&j must pay $8 billion in punitive damages for risperdal. he already won $680,000 in a compensatory award j&j said in a statement the award is grossly disproportionate and a clear violation of due process and it will move to set aside the verdict. the company faces more than 13,000 cases due to risperdal. that's in addition to the cases concerning the talc powder and opioid businesses. j&j just settled out of the first opioid trial for $20 million after losing a case in oklahoma and being ordered to pay $572 million the talc awards have been much larger j&j was ordered to pay $4.7 billion last year. j&j stock down 1.7% showing the $8 billion verdict is unlikely to stand back over to you. >> meg, very quickly on this i know you read deeper into all of the headlines and what i was reading on some of this, it sounded like evidence that johnson & johnson was on the list of warnings issue

we want to get over to meg tirrell who joins us meg? >> reporter: hi, andrew.orts that four of the defendants involved in the trial here have reached a settlement with just these two ohio counties to avoid going to trial here. those defendants are mckesson, cardinal, teva and amerisource this is not a broader settlement that would take care of the thousands of cases against these companies. it is just to avoid going to trial here today there is a fifth defendant, walgreens, that the wall street journal reports hasn't yet reached a settlement it's unclear whether the trial would continue with just that one defendant. we are trying to dig more into this the journal is reporting that the settlement details should be out before opening arguments at 9 a.m. we'll keep an eye on this space. this would take care of the trial set to begin here today, not the thousands of cases still pending in the opioid crisis back over to you guys. >> meg, thank you for that this was the bellwether to take it out of the mix. it's interesting in terms of what happens next. let's bring

meg tirrell joins us with more. >> hey, it was a big beat for j&j.onsensus. revenue beating by $700 million. as a result you are seeing the stock up nowmore than 2% in th premarket. let's dig into j&j's business units. they have three units, pharma, consumer and medical devices pharma is the largest coming in at more than $10 billion 10.877 billion for the third quarter versus analyst estimates of about $10.4 billion driven by their immunology drugs remicade came off of patent but beat in the quarter. medical devices also beat at $6.38 billion in the quarter consumer also came in ahead, a little bit ahead of estimates but that is the space that isn't doing quite as well for j&j right now on their babycare line they relaunched that last year they're facing pretty tough comps. they raised guidance on the top and bottom lines but our data team notes the raise isn't quite as big as the beat in the quarter on the eps line. they beat by 11 cents, they raised by 6 to 7 cents. >> being conservative. maybe holding on. >> based on this last quarter. >> thanks,

makes its way through bankruptcy the decision is a chance to freeze it and the sack ler family meg tirrellard bankruptcy for purdue pharma it's going through the chapter 11 bankruptcy process as part of a settlement it's trying to offer in the more than 2,000 cases that have been filed against it over its role in the opioid crisis. purdue values this settlement at more than $10 million. he's converting it to a public trust. cash and opioid overdose reversal medications would be the ploy to abate the opioid crisis purdue's billionaire owners, the sacler family would contribute at least $3 billion in the settlement there's a major divide over whether to accept this settlement purdue is asking whether the investigation be suspended temporarily while it tries to work through this process and potentially get more people on board with the settlement. 24 states and the district of columbia are opposing the settlement and asking for the stay to be denied. that's what we're going to hear about today. we may get a decision about that many state trials are pending. coming up early this year if that s