there is one deal that not going through today, joseph a bank has rejected a takeover offer from men's wearhouseignificantly undervalued. they are two of the largest men's clothiers. bank, or, ioseph a should say, men's wearhouse is pursuing. >> yes, that's because joseph a bank was first trying to acquire men's wearhouse, the larger competitor, and they let that deal expire, and when the ghost is following you -- >> exactly. how did the tables get turned question my >> basically, joseph a bank is a smaller company. it is more logical for men's wearhouse to make an offer for it. men's wearhouse also set at the time that joseph a bank was being opportunistic. the well-known founder and one- time face of the company, he parted ways earlier this year. the stock has fallen as a result, and it is said they were try to take advantage of a weak moment. we should mention, this is not the end of the story, right? joseph a bank saying the price is too low. the price has been trading above the $55 mark ever since the offer was made, so they believed the offer should be higher. >> what are the analysts sayi

first joseph a bank offers to buy men's wearhouse, and then men's wearhouse offers to buy jos.ve the latest on this takeover dance between the 2. kobe bryant is getting ready for the return to the lakers this weekend. he told us about the team he would like to be playing for. ♪ >> the biggest gold miner in the world is shaking up its board. alix steel joins us now. how important is this move? >> in so many ways marigold is synonymous with peter munk. he is seen as the godfather of the industry. by johnbe replaced thornton, a former goldman president. a banker will be at the helm of a gold company. barrick is nominating new independent directors which pension funds were positive on. the big changes happening under bad circumstances. gold prices falling 27% this year, barrick having to take a forcelion write-down, and one of its developments in the mind in the andes. what is the kind -- what does the company wind up looking like? to improveriority is its gold operations but it can also be a world leading company and other minerals. td securities says this might concern some inves

men's wearhouse is probably in a slightly better position. joseph a bank might go casual.re is not a lot of choices. >> what about lands and? >> i don't know, there are not a lot of names that come to mind that are very logical when you talk about other companies. >> you are throwing everything out there. these two companies are dancing in their rented tux he does. >> we will see what happens. we are approaching 26 past the hour so it is time for me to take you "on the markets." let's take a look at some of my favorite companies. 500, the dow, and the nasdaq are in the holiday spirit, up across the board. the nasdaq is up almost one percent. there is some positive momentum today. label i like is michael kors which is dropping today. they have had a good year so maybe people are taking profits. they have had higher-than- expected markdown inventory. their stores were busy over the weekend. facebook shares are rising today. people want to check out one another's feeds. an additional one million facebook shares were priced friday after the bell at 55 dollars per share. said f

says they will reject the proposal to acquire smaller men's the wearhouse.ill continue to review purchase opportunities according to the company. julie hyman has the details on this. pre-k's this has been back and forth that has been going on for quite some time. we have had these parties make offers for each other and then reject them. the noises the companies have been making in recent days made it sound like perhaps they were closer to some sort of agreement. looks like that is not the case here. a lot of analysts have said av it does at this point make sense for the companies to get together. there have been struggles in the greater retail businesses. chairman says in a statement that the board undertook a thorough review and said -- theration of the of proposal not in the interest of the shareholder. continue to review acquisition opportunities. if you are looking at opportunity, they are the two biggest and the specific niche. unclear what other acquisition there would be out there. makes it sound like perhaps it is a price issue. we will keep you post

maybe men's wearhouse will come back, jos. a bank will come with a bid.ping the activist i just mentioned is a stockholder in both of these. >> like david tepper, you can win either way. hedging bets. eminent capital wants to see something happen. be agitating for it. this has already gotten ugly between the two companies. can it get uglier? can they go directly to shareholders, can jos. a bank the aggressive in that way? they go unlikely that directly to shareholders. it isave a poison pill, very hard to get around that. "work is bank says underway on considering the men's wearhouse bid." >> thank you cristina alesci. ♪ >> live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle. >> you know, bassler his date b -- you know kyle bass for his japan.subprime and he is making a bet on herbalife. carl bass is in. are those that follow and those that do the work. loeb wasg in, dnan early. >> he was out? was that an investment or a trade? >> it was an investment when he bought it in the 20's. a particular sh

that sent men's wearhouse to mull over a possible proxy battle at bank's next annual meeting. both retailers have tried taking over each other but neither has made offers that have been accepted. in june, men's wearhouse ousted it's founder and chairman, george zimmer, in a dispute over the direction of the company. more trouble at target. banks including jpmorgan chase and citibank may sue target to pay for costs associated to last week's widespread hack attack. also, at least three class- action lawsuits have been filed against the retailer, alleging that target failed to maintain reasonable security procedures. last week, it was revealed that a security breach put data of 40 million target customers at risk. target says it is working closely with the u.s. secret service. swiss banks could be getting ready to "tell all." 300 banks in switzerland are considering seeking u.s. amnesty. the justice department is putting pressure on banks there to disclose details regarding american accounts. it's part of an effort by the justice department to crack down on offshore tax evasion.

men's wearhouse and joseph a bank. aseph a bank is evaluating bid for men's wearhouse.al options are on the table. noted a high probability that the deal goes through. that could provide benefits to hold companies. joseph a bank is also out with its earnings, coming in at the high end of its predictions. the shares are little changed. men's wearhouse is down. we will have more on the markets in 30 minutes. you will get more "lunch money" next. ♪ we are is "lunch money." streaming live on your tablet and your smartphone. i am adam johnson. today's moving pictures where the picture is the story. yemenbomb destroyed a defense ministry complex. it was followed by a raid on the facility. the attack left 25 people dead and 70 wounded. in florida, more than 40 pilot whales are stranded in shallow water. they are beaching themselves in the everglades national park. rescuers are using small boats to try to push them to deeper water, where they stand eight greater chance of survival. protesters in ukraine raised a flag as a show of defiance against the government. protests and ra

men's wearhouse later made an offer to buy josabank. shareholders take lululemon to court over the company's sheer yoga pants. in its filing, a florida pension fund accuses the athletic wear company of trying to hide defects in the yoga pants and simply hoping consumers wouldn't notice the problem. in its response, lululemon says it is implausible to believe that, and that it worked (quote) in real time to recall the pants. ford is celebrating mustang's 50th birthday with a makeover. the automaker's challenge was to keep the look of the iconic car while adding fresh updates. the new car is sleeker and lower, but includes the old logo and grille. the current model is offered at $23 thousand dollars. prices for other models, including a convertible version, are not yet available. slow sales are forcing general motors to shift focus away from its chevy brand in europe. it will instead target opel and vauxhall cars to bring back profits. analysts say the switch is an about-face for g-m, which intended to make chevy its primary european bran

mens wearhouse offered to buy joseph a. bank, which was trying to take over mens wearhouse. joseph a. bank will evaluate the offer. >> will it be take december to remember for investors or will it be a real turkey? oh, yes the all important holiday shopping season is now under way. what does it mean to your money? joining us now is liz dunn and mike holland of holland and company. thanks for being here today. we have a lot of questions to goat through. mike, every time we turn around there's a new record being set by the major indexes, the nasdaq hitting back to the level it was 13 years ago. what happens in december? does this run continue? >> history as a guide you would say yes. the last 50 years december has been a good month relative to the rest of the year. this year when you have 25% returns in the market, the newton's law tends to stay in motion. you've got good numbers come here from liz in the second and consumer looks to be okay but the fed is there. >> what does your gut tell you? >> the key since 2008 hasn't been a real difficult thing to understand. the fed has

we also got a real elephant in the room situation, men's wearhouse wednesday. there's a soap opera going on. the man that guaranteed we would like the way we looked if we shopped there, booted from the company. then joseph a. bank, attempted to try to take over men's wearhouse, that didn't work, now they're trying to take over joseph a. bank, the stock's up an astounding 62% for the date. it's too hard. i do not blame you if you take profits in men's wearhouse ahead of the quarter. there's too much going on. thursday we hear from one of the hottest tech companies out there, sienna, they used to come on the show. i tried myself, i am the head booker now. this ciena quarter is going to be great, not like cisco. heck, they're taking share from cisco, hence why this one's up 50% coming in and cisco up a puny 8%. i bet the stock keeps enjoying higher, and that is buttress by the outstounding quarter we got from finnistar. this stock continues to trade higher and ciena will give it another leg up. the final earnings report we'll get that matters this week is from lul

joseph a for today, bank says it will not expect a $55 a share takeover offer from its rival, men's wearhouses another turn in the battle that started in october between the two chains. a $2.3 billion bid for men's warehouse was rejected. then joseph a bank use virtually the same reasoning for rejecting the bid, saying it was inadequate, it was too low. at some point, don't they have to merge together in order to grow? joseph a bank has put a lot of pressure on itself. it has been talking about making acquisitions for years. >> are they going to go back to men's wearhouse again? who else will they buy? if you look at their sales, they are not that great. down 11% in the second quarter. men's wearhouse having a similar issue. , therer than wall street is a trend towards casual now. what does that mean for these companies? >> if one of them does look elsewhere for an acquisition, that is one of the lines of discussion that maybe they will go more casual and expand in that area. companiesings at both forecast to be down 2% in 2014. moving on, speaking of president obama, today's the deadline for

men's wearhouse offered to by joseph a. banks. this bid was for $1.2 million. they said they will evaluate the offer. >>> will it be a december to remember for investors or a real turkey? the all important holiday season is now under way. what does it mean for you money? joining us is liz dunn. also mike holland. thank you both so much for being here today. we have a lot of questions to get through. mike it seems like every time we turn around there's a new record that's been set by the major indices. it took us 13 years to get back this. does this run continue? >> history is a guide, you would say yes. the last 50 years most of the time december has been a good month relative to the rest of the year. this year when you have 25% return the newton's law tends to stay in motion. probably another good. you've got some good numbers here from liz in a second. most important the fed is there. >> what's your gut telling you? >> the fed is there and you think that's what's really deciding? >> it hasn't been a real difficult thing to understand. the fed is being copied

bank offered 2.3 billion for men's wearhouse. men's wearhouse said no, no, that undervalues us. on for joseph a. bank. that is not enough either. they want to seem to work collaboratively together to work it out. meantime, right now you have them saying you're undervaluing our company. we'll see if they can try to get numbers right. they seem to want to work together but can't seem to get numbers right. cheryl: maybe before the end of the year for tax purposes as well. we shall see. nicole, thank you. >> thanks. cheryl: well it's a deal. apple has pardon nerd with -- partnered with china mobile, the world's largest mobile carrier with over 760 million subscribers to the sell the 5s and 5c cell phones. they will begin selling in january, actually on the 11th. it is a multiyear deal. pricing has not been announced -- 17th. it is up more than 3%. 566.03, more than 17 bucks a share. a lot happening with apple. we'll talk a lot more about china. china central bank pumping cash into the economy at an astonishing rate. it may be too little too late as the world is bracing for a chinese

both of the apparel makers ended the day lower, bank at $56.29, while men's wearhouse is up. >>> anda court ruled that tiffany terminated a watch ev t venture with swatch before its expiration, it sent shares of the jeweller down, they finished at $90.50. >>> and buying a data storage company for about $374 million, the move is an effort by c-gate to expand its storage business and improve its supply chain. the deal sent shares of c-gate up to $13.28, up $2.83. >>> federal regulators are now allowing the marketers to resume the leukemia drug. they suspended sales of the drug after data showed more than 25% of patients suffered serious complications. shares rose up 9% to $7. a different diagnose is for another drug maker, shares went down for the treatment. the treatment is supposed to help patients suffering from nausea after chemotherapy, the shares dropped to $28.37. >>> and a completely different story for united therapeutic, shares went up over 30% to $114.51. >>> here is something that may not be on your christmas wish list just yet, but it is showing up on a lot more of them th

joseph a bank made an offer from men's wearhouse.h a bank says it is considering that in looking at making offers -- considering offers from other companies. >> number four, new ones to medication up a fraction. communication up a fraction. carl icahn has boosted his stake to nearly 19%. he has been steadily acquiring shares since he first revealed a nine percent stake back in april. speaking of bad names. slightly different than everything else? >> like you, very subtle. eropostale. bell.is the down two percent as the company reports a loss in the third quarter ended dismal outlook for next. they are dealing with cautious spending among young shoppers. >> number two, disney up nearly happened percent. raising >> coming up on our number one stock today. it is apple. up about a half% as the company inches closer to reaching a deal with china mobile. the carrier with 759 million customers has government approval to start service on a 4-g wireless network. trade, fifth straight day of deadlines. we are going to get some contacts on toda

we are talking about men wear -- men's wearhouse, its takeover bid for joseph a bank was officially rejectedpeared they say they are not interested. 23 tell winners and losers this holiday season. he has there down his list and we will go through both of them starting with the losers. >> they are cutting working capital, they raised stock dividends. leadership has been lost. that is the wrong way to go. >> in this holiday shopping season, is it because people have migrated to other stores or online orzo because we are not just shopping? >> domination of the two. -- combination of the two. walmart was notorious for having doorbusters. people saw that people were going in and the doorbusters were out of stock, the re-freezing for hours. people said they were not shopping there anymore. they would go to macy's or someplace that is in stock or we will go to amazon and shop online. that is why they are reporting that internet sales are up 25% this holiday season. in addition to the big-box stores that are getting pounded, jcpenney's, sears, new here department stores. >> that has been painful. if

a 1.5 a bank has rejected billion dollars takeover proposal from men's wearhouse. they offer ."ignificantly undervalued is one ofall street" the most anticipated movies of the year said to be released on christmas day. dicaprio. leonardo his rise and fall became the stuff of a legend thanks to the best-selling book. bloomberg sat down with bill ford himself. turned 26, i'm a $49 million which me off because it was three shy of $1 million a week. >> wherever i went i brought insanity with me. was this legal? absolutely not. there hoping to get this cautionary tale. when i was in the bottom and everyone was writing on the horrible person, i was not as bad as people as i was saying and when i was on top i was not as good as people were saying. want to place blame on anybody, especially a fictional character who appeared his looking sexy as hell and his $2000 suit. i think a lot of people bought into the notion that it is about making as much as you can as fast as you can and not focusing on who gets hurt. it is not true. i was taking enough drugs for a pride of elephants each day.

men's wearhouse after the bell. bank. to buy jos. a. iplon, big news of the day, -- supposed to be a record ipo or a lodging company. >> this is not another deal. this is in some way a top of the market deal. terrific research on this. we will have it all day on bloomberg television. i got goosebumps. almost like 2005 all over again. >> and is it a problem? groupl ask a gas from isi and we will talk also to bob nardelli. >> why it markets today. looking at stocks, bonds, currencies, commodities. boring. the euro, 1.3764. crude, 98.56. our next board, a little bit of foreign exchange. under markets, back 16,000. the dollar gives way. the blended basket of our traditional trading partners. under 80 is a big heal. finally the dollar weakens and gold is a bit of a rally. the last threed days. the morning papers in the web as well. here's scarlet fu. >> it turns out you can cut a bipartisan deal in washington before the clock runs out. a novelty. house and senate budget negotiators, paul ryan and patty murray, reaching an agreement on a budg

men's wearhouse, it's 1.54 billion dollar bid for joseph a bank has been rejected.ey say they are not interested. plenty of retail winners and losers this holiday season. we're going to go through the list of losers first. >> they are cutting a working capital to raise stock dividends, raised buybacks, leadership has been lost. that is the wrong way to go. >> in this holiday shopping season, is it because people are migrating to other stores or online, or are we not shopping? >> browsing, not buying. walmart was notorious for having doorbusters and our team across america saw that people would go in and the doorbusters were out of stock, they had been freezing for hours. people so we were not shopping here anymore, we will go to macy's or someplace that is in stock we are going to go to amazon and shop online. that is why com score is reporting that internet sales are up 25% this season. in addition to the big box stores that are getting pounded, pennies, sears, made tier department stores. >> as those of the losers, who are the winners? >> destination malls are wor

. >> all right, our senior market correspondent on the men's wearhouse offered to buy joseph a bank. we will be back with more on the " startsand "money moves now. ♪ >> welcome to "money moves," where we focus on alternative assets. i am alix steel come in for deirdre bolton. on in hedge funds, private equity, real estate, and more, and today, it is a feel- good story, helping people climb out of poverty, the benefits of micro-financing. that speaking to a company is providing over 5 million people around the world with access to credit and banking services. i will also show you my favorite holiday out of the season. i cry every time i see it. television anday ads are analyzed. with aing on big pharma drug for attention deficit hyper activity disorder. all of that on this addition of "money moves." and the junk market is soaring this year, exceeding its reviews 2008 peak, and a big surge in demand have a lot to do with expectations about the dead. su keenan has the story. these loans made to risky companies, is that what we are looking at here? >> the real idea behind this, given tou

men's wearhouse turned down that offer and offered to buy jos. a. create a menswear powerhouse of more than 1,700 outlets. >> here is a live look from the san francisco skyline. and warmer weather is on the way. i will have a look pitcher holiday forecast when we return. good. good answer. check it out. learning's fun now. yeah, back in our day, we didn't have u-verse high speed internet to play and learn online. all we had was that franklin fuzzypants. ah, the educational toy bear. remember when the battery went out? [ slow, deep voice ] give me your abc's. all i learned was a new definition of fear. i need some pudding. yeah, there's one left. [ male announcer ] connect all your wi-fi-enabled devices with u-verse high speed internet. rethink possible. >> the full day of winter was more like * spring in some places. that set high temperature records yesterday. including d-c- where it was 72 degrees. then there was flooding, snow, and ice in the midwest, northern new england, and along the great lakes. in those areas, trees and branches snapped, pow

they want a fresh blood and it makes sense seven just like men's wearhouse. >> this is great.was not objective. >> now they go the other way but. >> even in time warner it was the acquisition on a merger and those were shown the door. but it. >> that should say that right there here is your punishment. [laughter] civic they don't know what you have been doing. >> should you always be in communication with your superior of your own initiative? >> yes. but companies are not loyal so keep your resonate updated and your network. >> this time of year in particular ask for the evaluation. >> what can i do to improve? >> and just give me a quick rundown. [laughter] melissa l. wants to know. the message being given to everybody who is still waiting for their christmas gift in the mail. how did this happen? we'll get pushed customers back into a brick and mortar? when we get back. adam: a lot of people are still waiting for holiday gifts. no blaming santa. ups and fedex both failed to deliver we've been wal-mart and amazon scrambling to appease angry customers. who was at fault and wha

bank, we talked about this, rejecting a $55 per share offer from rival men's wearhouse. bid on you, you bid on me price story. they said that the offer significantly underpriced value of the company. david: consumer sentiment climbing to 82.5, this is from 75.1, a five-month high sentiment. pickup in employment, higher property values, stock market gains all were reasons for improving sentiment. >> the obama administration has extended today's deadline to sign up for health insurance by one day due to high traffic on its online enrollment system. the deadline to enroll in plans beginning january 1st is midnight tomorrow for most of the u.s. "after the bell" starts right now. david: for those who thought we would have a sleepy couple weeks before the first of the year, wrong! we got a big, booming market here. let's break down today's action. bob phillips, spectrum group managing principal will tell us why he is keeping a close eye on interest rates. mash luschini, janney montgomery scott equity strategist why investments will be outside the united states and lincoln elli

it will either be joseph a bank or men's wearhouse.gement company, team gets to keep their jobs. and then we have time warner cable still out there. ter has been rattling the cages. we know that regulatory pressure has eased quite a bit. and then we have t-mobile hanging out. we should potentially see sprint, which is now backed by softbank, get aggressive about consolidation. >> one question about compensation. all of these big deal sound great, but they actually pay less. too.es were pretty flat, number one onut volume and number of deals -- these are highly manipulated -- but what happens is investment bankers are gaining more power over the traders. historically, the traders at hadman and morgan stanley been -- and they took a large part of the bonus pool. now investment bankers say it is our turn. dodd frank, your trading records have not been great. we should have a greater piece of the bonus pool pie. we are seeing those fights go on quite bristly -- vigorously inside goldman. much.nk you so happy new year to you. >> same to you

. >> they've rejected the acquisition proposal for mens wearhouse. joseph a a.undervalues the company and the near and long-term potential. but i would suggest to you, don't hold your breath on this one. actually, hold your breath because you will be able to breathe again, these two companies will merge at some point very soon. men's wearhouse tried to buy joseph a. bank and they're not happy about the price. it's called negotiation. >>> phil lebeau goes under the hood of the auto industry. check out the futures right now. another santa claus is coming again today, up 83 points. >> why? >> why not? in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open

if you look at what's going on between men's wearhouse and jos. a.rs out of the room and look at the factors, that's their duty. you have to be discerning on what you do. >> martin, thanks for joining us today. join us tomorrow. right now it's time for "squawk on the street." ♪ girl, you want to come to my hotel, i'll leave you my room key ♪ >> good thursday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer and david faber at the new york stock exchange. two big ipos at the big board this morning, hilton and aeromark. a couple of profit margins to keep your eye on. seeing a little creep after the weak 10e-year, more talks about stan fisher potentially going to the

want to highlight some preliminary earnings for joseph a bank, involved in the dog fight with men's wearhouse. joseph a bank reporting third- quarter adjusted earnings of $.51, the high endd of it -- end of its range. as the two companies continue to battle it out. >> all of their clothes, buy one get free, and the bowties, buy five get one free. but this is not joseph a. bank. a made in america bowtie by looks brothers, they are crowd of it. leonardo dicaprio wore this tie -- this is from the movie. >> he took his cue from you, clearly. let's get to the front page. secretary,reasury will speak on financial regulation and plans to address the big gains in financial reform. think of it as a victory lap but he will make it clear more measures may be needed to -- strengthen the global system. this is as regulators get ready to vote next tuesday, december 10, on the volcker rule. >> any plans to ask congress for more money to enforce new rules. the problem is how do you -- >> is it too strong to say today is the beginning of 2014 and the major changes for banking? >> they already made a lot of th

between men's wearhouse and jos. a. bank, i think they should kick shareholders out of the room and look at the factors, that's their duty. you have to be discerning on what you do. >> martin, thanks for joining us today. join us tomorrow. right now it's time for "squawk on the street." ♪ girl, you want to come to my hotel, i'll leave you my room key ♪ >> good thursday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer and david faber at the new york stock exchange. two big ipos at the big board this morning, hilton and aeromark. a couple of profit margins to keep your eye on. seeing a little creep after the weak 10e-year, more talks about stan fisher potentially going to the fed. our road map today begins with the markets posting their biggest selloff since november 7th. the major indices all down more than a percent this week. >> it's a big day for ipos led by hilton and aeromark. we have the ceos after trading begins. >> facebook, shares up on news the ipo will join the s&p 500. >> lulul

he also received a custom-made suit from the men's wearhouse, which is an exact replica of one of curry'sing his goal to raise money for the walking with the wounded charity. they tracked 200 miles for two weeks in temperatures as low as 30 degrees. many service members who made the trip are amputees and they came from the u.s., the united kingdom, canada and australia to participate. >> lot of pride at the south pole. great to see. let's check in with rosemary. cold here, not as cold as the south pole, but still chilly. >> this is true, although if you're heading to the sierra, it's about 5 degrees in truckee this morning. that's cold! here at home, we have seen our temperatures begin to turn around, so that is good news if you're thinking about getting outdoors and doing holiday shopping. we are looking at hazy sunshine for today. we've been talking about this all morning long. another spare the air day, the most seen since the policy went into place back in '08 when it comes to several days in a row. so today is the seventh spare the air day. giving you a look at the extended forecast