merck told analyst says it exncctsasing pricer pressure in 2020. pfizer ceo in ate telephone iew noted t impact on the reputation process. it'sd he said but lost in buckets saying it's a big problemeeding resved. for "nightly business report," meg tyrell. >> fellow dow component johnson o ashnson said it found best foss in the baby powder flagged by the fd prompting call. 15 tests conducted of t bottle by a third party lab. additional tests on samples frot the l that was recalled also found n asbestos. that the sent the stock high err initial aours trading. >>> those results from merck and pfizer that were not eugh to the s&p 500 did touch a new record but fell back to finish lower. at the close, the dow jones industrial average fell 19 points to 27071. the nasdaq down 49. and the s&p 500 slipped 2. so> and now that we're halfway into earnings s some trends emerge. bob pisani has more from the new york stock exchange. >>> we reached the halfway mark on earnings season it's oft o the case there is good news and badews. is going strong.he u and that'

merck has outperformed the group but it only up 9%. an underperforming sector that's getting a little bit of love this morning. maria: good context there. >> this sector is under a lot of heat in congress because there's a big part of the usmca that allows expanded patents for these drug companies and pelosi and the democrats are now talking about maybe reopening the usmca to take out those benefits for the pharmaceutical companies. an eykeep an eye on this one. maria: when don't give investors incentive to actually get a profit, why would they put their money at risk and invest in a drug that could be life-saving. so the patents are important for these companies. the democrats do not want -- nancy pelosi, whoever is pushing back on usmca, says they don't want the biologic toss have the 10 year patent. >> there's two problems. one, the one you mentioned, if the drug companies can't make money they're not going to invest. the other problem is, it's dangerous to make changes to usmca. it's a de delicately balanced treaty. maria: because

i'm in pfizer, merck when i look at the merck numbers they'reout standing.ey trueda an unbelievable trueing drug for them up 62% there is a lot of good things looking at sales and everything in the growth foort from merck and i think in pfizer too frankly. i think the pipeline is there. they have issues going back a ways why obey not be in those without headline risk as j&j with the op yits abthis and that seems to be something always hanging over them right now. until removed i see other places to be. >> ernie arvai talking about the social media concerning the 737 max in this particular instance you're a member of the public you have a baby are you going to use talc. >> no. >> because -- because j&j paid two labs to test their product and they found nothing. >> you know the answer the answer is of course not. the last thing you want to be a ginny pig is with your children. at least i wouldn't. i can't speak for the entire 34 million people in the united states i still think j&j is a no touch. quickly on amgen because i think it's important to bring up up t

merck beat and earnings, revenue, guided higher. pfizer beats on revenue, guides higher.ellogg's, kellogg's powered by poptarts and pringle's surging. autonation is intriguing. a lot of auto dealers all stocks popped pretty good. this is four years into peak auto. the consumer bedrock of the stock market rally still positioned to keep this going? >> that's it. if you look where the bears are, they're essentially circling wagons and manufacturing. they're wringing their hands, manufacturers do don't have enough visibility and clarity to expand. to some degree that is threw. but on other hand as you mentioned, u.s. economy is really more about the u.s. consumer. you know, a lot of results that we're seeing today are reflection of that. now i will say before we get too optimistic on kellogg, i think they did have 1.8 billion or raised 1.8 in some sales of ancillary businesses. that is really one-time thing. i'm not a huge kellogg fan, because they're really caught on wrong side of consumer tastes right now. charles: although, i see your point. organic sales were up. it is in

merck and pfizer both posted stronger than expected result. merck up 3%. pfizer up 1%. both companies headline cancer treatments helped raise earnings guidance. pfizer needs to bump more though, its stock is down 15% year over year while merck's is up 15% year over year. xerox stocks photo copying its gains jumping by 11% after the office equipment maker raised full year guidance and says it plans to retain its consumer finance business. it will not sell it. amazon sending shockwaves through the grocery world at this hour after making its delivery service free for prime members in the u.s., free delivery. when we flip over to amazon, it is slightly down 2/3 of a percent at the moment. but members in the u.s. will have the portal give between one and two-hour delivery windows again for free and they will deliver groceries from both amazon fresh and whole foods. you can see the competitors here, kroger and wal-mart, we have investors emptying their shopping carts on that news. wal-mart down 1 1/2%. kroger down 2 1/2%. grub hub, ugly picture here, folks, blaming disappoint

merck, we got pfizer, and gm all fact jororing to what we're seeg nasdaq indicated down 21 and changeitalist ben horowitz is out with a new book this morning titled "what you do is who you are" which looks what history can teach us about definition of culture and way technology companies can better adapt to scale we're going to get to the book in just a second but talking about culture i want to get your take on a couple of report out there right now that very much on this issue. >> ah-ha >> of culture. report in the "new york times" just yesterday on a letter that facebook employees sent to mark zuckerberg asking the ceo to reverse the company's policy of exempting political ad from its own fact checking program and that has now gone public and this is an issue, by the way, confronting mark zuckerberg of facebook but seeing the rise of employees at companies, especially in silicone valley all across the board this fundamentally is about culture. what the do you? >> it's tricky i think it's different if you're a normal company than if you're facebook or google, right, where you're in

earnings from merck and pfizer hitting today before the bell. and they have both helped buoy the health care sector, which leads the sector on the s&p 500. meg has been diving into those results for us hi, meg. >> reporter: different story for pharma it was a beat and raise for pfizer and merck in the end of the quarter. keytruda drew more than $3 billion in quarterly sales, topping analyst estimates by $200 million and for pfizer, outperformance came from its breast cancer drug ibrance and prevnar 13 merck in favor and pfizer still not yet covered from its july deal with mylan. wilf, back to you. >> hda also performing well today, helping that health care sector higher. >>> after the break, senator mark warner sending a letter to mark zuckerberg, asking him to rethink facebook's controversial political ad policy. we'll speak with the senator exclusively about that letter, next >>> plus, it's another massive afternoon for earnings with reports ahead from yay, mondelez, amgen, amd and many more we're going to bring you all of those numbers as soo

when you think of pharma with a capital p, they are the biggest companies, merck's, pfizer -- merck, pfizer, johnson & johnson. what distinguishes us is we have hundreds of startup companies that are on the cutting edge of biotechnology innovation of new medicines. : drug pricing is the hot issue. thatve seen polling data about three in 10 americans are basically rationing medicine because they can't afford it. does that indicate a problem here, the drug prices are too high? problem. is a it is not necessarily a problem of drug pricing. it is a problem of insurance coverage and the way insurers -- insurance products are designed. when we talk about drug pricing unaffordability, there are two moral principles. the first moral imperative applies to all the people for whom we have medicines we have developed. the moral principle there should be, no patient -- if no patient cannot afford what is required to come from their pocket, their insurer or a program like medicare. the second moral imperative applies to a larger group of people. those are people for whom we have not yet developed

the classic one is merck last week, merck got hit down to 79.80.ristol-myers, a cocktail, that was very positive. keytruda is doing -- i don't know if people understand this $3 billion this quarter. this is, you know, heaven help you if you have cancer, a terrible illness, this is extraordinary, merck's drug, raises dramatically. pfizer unbelievable. >> on a day where merck and pfizer raised their full year guide, but a day where cummins cuts its guide, you to stick with defensive still >> i think you have to say, listen there are some guys that beat -- that really have figured out what to do let's see how much cummins is down they missed on revenue, but the fact is that caterpillar was horrible last week horrible and the stock hit 140 yesterday. and morgan stanley downgraded it before it came out and you started thinking, it is going to be awful and the stock didn't go down i'm a little suspicious about giving up cummins right here when you see revenue declining 2%, your instinct is to say sell it we got to hear this company -- caterpillar is so c

this year but we still like merck.good late stage pipeline we believe they have first mover advantage in oncology and we think a lot of their patent issues are behind them so we would hold this one albeit at a lower rate in pharma across our overall portfolio. >> from stan in new york, viacom, would you buy it >> no. this is the worst-run company in what is about to become the most highly competitive industry. they're streaming whatever is doa. stock is trading at the same level it was trading in 2009 and their prospects are significantly worse going forward. there is no equity whatsoever in mtv, nick load yon, these things are all dying brands the app's not going to be a hit. here is the only saving grace. but this stock is about to break below 20, which was low in 2017. it bounces from there. if it doesn't bounce from there this time, no reason it couldn't be $15 i want nothing to do with it. >> can you give us your hot take now? >> that's my hottest take. >> yes, it is. les ns for the questio t'do call of the day pl

cancer-myers squibb's drug facing stiff competition from a rival made by merck.g its stance on political ads. if politicians want to run them, the social network will take their money. we spoke with chief operating officer sheryl sandberg. >> we are not doing it because of the money. this is less than 1% of our revenue, and the revenue is not worth the controversy. but what mark said is we believe in free expression. we believe in political speech, and adds an import part of that. viviana: it also will not fact check political ads. that is your bloomberg business flash. alix: thanks so much. that is facebook. twitter, on the other hand, entirely different take on political ads. ceo jack dorsey announcing it will ban all political advertising. at the same time, dorsey was able to take a shot at facebook. he tweeted, "we believe political message reached should be earned, not bought." the change will go into effect november 22. to 2020.ng as we had coming up, the fed signals rate cuts are on pause. pce is on deck, the fed's preferred measure of inflation. this is b

but when merck reports, i expect to see something to perfection, another buy ahead.ow much is purdue losing per day? might as well listen to the call and find out i remember a time when the strike at gm could send our whole economy into a recession and we cared about tesla earnings, which were oddly he better than expected we also get observes from cramer fav shopify. i bet it delivers a clean, solid beat we have dispatch from delivery guru grubhub this is important. i don't think there's number room for grubhub, uber eats, doordash and post mafts. these companies are bashing their head against each other, which is i predict pain! at the close we her from amd if intel is doing as well, and we know it does, what a move today in that stock. that means, well, you should go buy amd. it was not up enough at the independent of the quarter we knew instel would meet dmajd for all kinds of chips including processors, their bread and butter so i'm a big believer in ceo lisa sue so i remember you buying some amd next week. doesn't matter if we get a negative tweet or nonsense a

merck, they will knock the stock down and buy more or get too excited about it and it will get knockedn buy half merck now, and half on the day it reports, it will be a good quarter let's go to gunther in florida. >> booyah. i'm in palm harbor, florida, i have a question. pharmaceutical a good stock to own in the long round. >> it's fine it's a battleground, it's got a lot of short people, shorts banging it down and taking it up i have to tell you, i like the seattle genetics, even though it's up a lot. st it's not better i like both a lot. let's go to andrew >> i had his phone number, he didn't answer, i called, looked up. >> that's a little confusing to me >> what's the stock? >> hey, i'm looking into, booyah just wanted to get a shout out and see what you think about tandem diabetics. >> i like tan diabetics, it seems to want to do nothing. i don't care, i like the stock i also, by the way, you know, i like med tronnic, which is down a lot. lightning round. >>> the lightning round is >>> the lightning round is sponsored by td ameritrade. yes, absolutely. do you just say yes to every

it's merck they have tremendous momentum and reports on october 29. the stock is down about five points from its highs. to me it looks like a buying opportunity. i expect merck to raise its forecast thanks to the incredible growth of keytruda. it's better than nabaf what else? here is starbucks. starbucks doesn't report until the 30th, but its stock has been crushed. pulverized from 99 down to 84. that's thanks to excessive enthusiasm when it got to 99 combined with a one shade down from erflely september the traders, they felt like they were trump chumps if they owned the stock. they've been dumping it every since. at 84, i think it's a buy. don't forget they got that nitro. the millennials love the nitro i get sick to my stomach every time i have it honestly, i can drink this better than nitro. six, facebook. yeah, facebook, can you believe it facebook and what am i thinking, right? here's what i'm thinking even though the social media kingpin had a nice run today, it's still dramatically down from highs and it only takes one statement from one poli

the drug faces competition from a rival therapy made by merck. that is your business flash update.a is taking a hit, the u.s. maker of marble or of cigarettes reported earnings this morning, plus a $4.5 billion charge related to its investment in juul. the stock initially rose on the news but now is down more than 2%. our next guest says the market may be relieved that this charge was not higher. princeton,sight from kenneth shea. this is an investment that altria made, $12.8 billion for a 35% stake. when you say it could've been worse, there are issues here. could there be another shoe to drop, more write-downs? kenneth: there certainly could be. the reaction today was kind of a we know theat, stock price has gotten hit over the last month or two, as the headlines over e-cigarettes have been poor. today's recognition of the $4.5 billion write-down is a recognition that some of the assumptions that altria made when it made a purchase are coming down in tandem. it's all 20% annualized growth in the e-cigarette category for the next five years, margins approaching that of its own cig

we get earnings from general motors, mastercard and merck. >>> boeing's ceo will tell congress that theny made mistakes with the 737 max and it is throwing everything into fixing the plane. dennis muilenburg will testify today and tomorrow. boeing faces investigations and a criminal probe by the justice department. it's also being sued by some of the families of the 346 families who died last year. >>> uber is ramping up its push into financial services. the company is expanding uber money, a division that houses its financial efforts. the emphases initially will be helping on driver's get paid through mobile banking then uber could offer consumer bank accounts. back over to you. >> thank you so much. >>> 4:42 right now. coming up next on "today in the bay," what everyone is bracing for, another round of strong winds expected later today. >> we'll see that red flag warning starting in the north bay first, early this morning, the rest of the bay area seeing winds picking up later today. in san jose, as you get ready to head out, all clear skies, a very chilly start to the day with some m

pfizer and merck raise estimates with a slew of earnings on deck. we speak to the ceo of autonation and general motors' cfo later in the program. welcome to "bloomberg daybreak" on this tuesday, october 29. i'm alix steel. where do we go from here? we are taking a little bit of a pause. is it value or growth that will lead the way? euro-dollar a little bit on the back foot. the cable rate is definitely one to watch. exchange,or global where we bring you today's market moving news from all around the world, from riyadh to london to new york and washington. bloomberg voices are on the ground with all of the mornings top stories. we want to start with breaking news out of london, where the labour party says it will support a general election. boris johnson will try for the fourth time to secure election. joining us now is emma chandra from london. what just happened? what is the lineup today? emma: we are seeing the pound off aftergher, paring spiking higher today. saying they will now back in early general election, saying that conditions that a new d

notable earnings reports scheduled for later include merck, pfizer, general motors and kellogg.ecord high on monday closing up 16 points. the dow gun 1d 32, and the -- gained 132, and the gun was up 32. >>> automakers are siding with president trump on a legal authority over emissions standards. the administration wants to bar california from setting its own fuel efficiency rules or zero-emission requirements for vehicles. general motors, fiat chrysler, and toyota have filed a lawsuit to intervene. california has reached an agreement with other lawmakers, automakers to voluntarily increase the average fuel economy of their vehicles. >>> myelin pharmaceuticals is recalling its generic form of xanax. the fda found the potential presence of a foreign substance in the anti-anxiety prescription drug alprazolam. the recall is for .5 milligram tablets that were distributed in july and august in 500-count bottles. the affected drugs have a september, 2020, expiration date. myelin has notified customers about the recall. late kurt cobain has just sold at auction. the vintage olive green

now seeking that a judge ruled that the state agencies use that data in their possession to deter merck determine voters citizenship. we have already asked 8 were you doing. a student told we're not doing anything to verify citizenship. we are done. >>something to verify felonthg to verify non with kids. >>and people who moved we're just simply ignoring this part of the statute that state position. >>well the lawyer filing the suit has filed lawsuits on behalf of the trump administration before. but says that she does not expected to be resolved before the 2020 presidential election. the boat that caught fire and killed 34 people in southern california is suspending its fleet of boats, the truth aquatics company says said it will dedicate all. first to make sure that their fleet complies with all safety regulations. so will also work with the coast guard and the national transportation safety board to do this. and of course with authorities are still investigating that deadly boat fire aboard the conception and they are facing criminal and safety charges. well most of the victims in the

pfizer and merck raise estimates with a slew of earnings on deck.ater in the program. welcome to "bloomberg daybreak" on this tuesday, october 29. i'm alix steel. where do we go from here? we are taking a little bit of a pause. is it value or growth that will lead the way? euro-dollar a little bit on the back foot. the cable rate is definitely one to watch. exchange,or global where we bring you today'

results from merck, pfizer and more beyond meat shares what is weighing on that and bringing you a firstview with the ceo of beyond meat. and gamer walking away from star wars on netflix. more right now >> announcer: live from new york where business never sleeps, this is "squawk box. >> good morning. welcome to "squawk box" here on cnbc we are live from the nasdaq marketsite on times square let's look at the u.s. equity futures. you'll see the dow, nasdaq and s&p all weaker today yesterday, s&p closed at a record high for the first time since july 26. you saw the big run. nasdaq took a shot at a new record didn't get there. dow only 1.1% of its record high the fed meeting tomorrow, so lots of market speculation around that. we'll see what happens again, red arrows this morning in

when you think of pharma, they have the biggest companies in the industry merck, pfizer, , johnson & johnson. we have most of them as well, but one of the things that this distinguishes us, we have literally hundreds and hundreds of small startup companies on the cutting edge of biotechnology innovation of new medicines. peter: drug pricing is the hot issue. i will start with a general question. we have seen polling data that about 3 in 10 americans are basically rationing medicine because they can't afford it. does that indicate a problem here, the drug prices are too high? how do you look at that? james: it is a problem. it is not necessarily a problem of drug pricing. it is a problem of insurance coverage in the way insurance products are designed. when we talk about drug pricing affordability there are two moral principles. the first moral imperative applies to all the people for whom we have medicines we have developed. the moral principle there should be no patient should not not be able to get the medicines they need because they cannot a fford what is required to come from th

will take a $3 billion hit because of the uaw strike we end with two big drug makers, p pfizer and merck : we ha >>> we have a news alert on fiat chrysler >> they are in discussions about a possible combination with psapeugpsa peugeot. it's mainly in europe. they also have large exposure in china and parts of asia. they have big exposure in north america with jeep and exposure in asia. it would create a $50 billion auto maker and give both companies the kind of size and scale they would be looking for. we have reached out for a comment from fiat chrysler we have not heard anything don't be surprised that this talk will start to heat up because many people believe the auto industry is right for consolidation. we know that fiat chrysler was looking a t a possib ining at a combinati combination. that fell apart. >> chrysler has been in talks so many times i'm sure you can't keep track anymore. do you think this could run into resistance by anti-trust officials in europe? >> not at first. people said what about peugeot that's starting to be a possibility. >>> thank you. now to major shift in

pfizer and merck beating to the upside. this is all in the context of pre-fed.ve seen a lot of volatility in the yield of the ten-year treasury because of the sheer uncertainty in the market. we are back at 1.8. this will be a wait and see market, as we wait for the fed to move, although it is fully priced and at this point of what the fed will do. the meantime, keeping our close eye on all of the economic data in the u.s. this morning, we had consumer confidence which on expense of the fell to a four-month low. this would be the second-largest differential between expectations and the actual numbers since 2001. the key issue is that consumer spending has been propping up the expansion, and now we are seeing signs that this could see challenges, as we see weakness in other parts of the economy. there is so much uncertainty out there, including the ongoing u.s. china trade tensions, as well as the brexit tsonga -- s aga. amanda: the u.k. now set for its third general election in four years. the backingn won from jeremy corbyn for a snap election in december. he i

merck, their cancer drug growing 63% year over year. investors clearly liking it.nie: thanks, abigail. just another stock that we are keeping our eye on, boeing. it's up more than 1% now. the c.e.o. testifying on capitol hill with some other boeing executives. but he just said that the max will trourn service when it's safe, but that boeing is in the final stages of max approval, and he sees f.a.a. certification flights in the near term. that obviously having a positive impact on the stock. keep watching the testimony and q&a from the senate commerce committee live. this is bloomberg. ♪ vonnie: boeing shares up more than 1%. we're continuing to monitor the q&a with c.e.o. dennis muilenburg, who just said that boeing is in the final stages of max approval, and he sees an f.a.a. certification flight in the near term. guy: it's going to be interesting to see what the european body follows up with that, whether or not it is something in the short term or maybe a slightly longer term gap, and whether the chinese are even longer as well. major markets for the max. but ge

not to mention, we also had health care higher as we had strong resorts from merck and pfizer.et's see how we are shaping up in asia. haidi: we are getting not much of the guide when it comes to the sentiment getting weighed down by expectations that may be the many trade deal is not so imminent after all. pretty lackluster start we are setting up for in asia. you get futures trading in chicago looking flat at the moment. that's of the situation in soe eoul. we are looking at a climb up 3/10 of 1% in sydney. futures off by 3/10 of 1%. not much on the data docket either. cpi comehird-quarter expect it to show very little change in core inflation. not really moving the expectation much what they are will do next. new zealand is trading at the moment. moderate gains of one quarter of 1%. let's get you caught up to date with the rest of the headlines. ritika: thanks. the u.k. is preparing for a general election on december 12. prime minister boris johnson finally managed to win backing in parliament to tracker -- to vote in an snap attempt to resolve the brexit crisis. it will be t

. >> the merck and people are sitting back and saying look at the russia probe, we heard for two yearss collusion and now nothing. >> if donald trump is as bad as the democrats say, he should not too hard to defeat them. we try to get this done by christmas because when not defeat him in the election without the great bitterness that you are asked when you go through. >> which is again this is relitigating the 2016. >> you are terrific. thank you very much. the washington post is for pinocchio for also. we are going to dig into that story. does adam schiff care, and did he build a ground for impeachment before anybody knew about the whistleblower complaint? that debate coming up. ♪ nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ i've always been i'm still going for my best... even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke

what is that all about same situation, you have health care stocks like johnson & johnson, merck movingth visa a pretty good week overall for f fintech here the dow laggards remain essentially cyclicals. 3m and caterpillar oil was down a lot of 52-week lows in the oil sectors and goldman sachs, most of the banks not doing too much. quite a wild week. guys, back to you. >> and as we look to next week, trade talks. anybody want to be negative going into that? >> i don't think there's a play, to be honest, i don't think there's a definable trade that you would have high conviction going into these talks necessaril necessarily. but do you want to bet against good noises, probably not? >> the president probably has his back against the wall a little bit with the impeachment talk he would like some good news to help him on that front the economy, a little dicey. >> i agree, but i don't see it as a gamable situation very easily, necessarily. i could make the other side of that, too. he wants to be seen as being tough. >> but don't you think that if we got a deal, we'd get a massive move up? >>

what now happens is european -- angela merck kel has arrived ine building. the deal will be put to them. the expectation is they will accept it since after all the eu negotiators have been working on their behalf protecting european red lines and so on. the real question is what boris johnson does now. we had this tweet from him earlier. this is how we learned the deal had been done saying we got a great deal done. it now needs to get done by westminster on saturday. we need to get behind it so we can get to the other priorities of this government. that is really likely the next sticking point. it is likely it'll get past the european leaders. this was the deal negotiated on their behalf. how he gets the numbers behind him and this is, again, where theresa may had failed before him. it's hard to see. but a glimmer of hope this afternoon. >> wow. this is just changing by the day, by the hour. please keep us posted. thank you. >>> all right. president trump facing criticism on his decision to pull troops out of northern syria including from one of his fiercest

. >> reporter: the treasury secretary, steve mnuchin, mercking it clear on monday that there will beiscussions between top u.s. and chai niece -- chinese negotiators in the coming weeks as the phase one portion needs the to be papered as president trump said on friday. the treasury secretary giving what a potential road map for talks could look like over the next months. >> there will be deputy level calls this week, principal level calls next week with ams bass door lighthizer, my -- ambassador lighthizer, myself and the vice premier. i wouldn't be surprised if there were deputy level meetings in person. our expectation is we'll meet with the vice premier in chile before the presidents meet and if we need in-person meetings, more in-person meets to he get this done, we'll do that. >> reporter: a spokes american noting that more work is needed, saying in a statement, the two sides discussed the follow-up consultation arrangements and aa agreed to work together in the direction of final agreement. back to you in new york. cheryl: blake, thank you. well, president trump imposed sanctio

we had merck and pfizer today, strong results in health care continuing. and s&p 500 winners, lam, klh, chipotle, advanced micro devices. lots of chip companies there and i will send it back to you. connell: gerri, covering a lot of ground. in the hot seat, boeing ceo dennis muilenberg testifying before the senate transportation committee a year to the day after two fatal crashes involving the boeing 737 max. grady trimble live on capitol hill with the latest. reporter: lawmakers grilled muilenberg for two half hours questioning whether boeing was a little too cozy with faa regulators as many critics said. they questioned whether boeing put profits over safety in a rush to get the 737 max certified that was involved in two crashes t has been grounded since the second one in march. muilenberg admitted the company made mistakes. there was a problem with the flight control system largely to blame in both those crashes. families of the victims, they looked on here in the hearing room, holding photos of loved ones. they're not satisfied with muilenberg's answer

i said to myself he's not telling us to go by merck or costco, or is this the time to buy mcdonald's, he's not trying to steer toward a good mutual fund, he just joins a long list of very smart, very rich people, big picture issues and end up scaring people out of the stock market you could have said the same thing in 1989 and would have missed phenomenal gains. maybe he's not trying to scare you but that's what he's doing all my life i found people who are smarter than i am. i had the highest grade in my generals at harvard. we had guys like bill gates in my class i knew something important my parents were never going to give me a fortune to start a company in my job, and thank you big tobacco, couldn't have done it without youme ic i was determined to help people earn money, left stock tips on my answer machine. i never worried about big tips, ray dalia is mentioning, i didn't give up, when times got tough i looked for stocks that could work in a tougher environment. during the great recession, i found salesforce.com, i found faang, the plus.com club so i can look like an idiot publ

and missouri in a lot of ways and after the civil war so much of what used to be called the great merck and desert open up. the west was changing very much and hickok was 70 was set in his ways and he did no how to be anybody else but himself. he was believing his own luncheon. he just had to look coldly at somebody and they said i give up. and there was a poignancy to it, i felt differently i expected him to be completely heroic figure and he was not. he is more complex than that and somebody -- rome was felt sorry for him use only 39 when he died so i never lived old enough to tell his own story. so, he had 39 years on earth and there was so much, almost like he probably would not have done well if you live longer. he would not have been comfortable or vulnerable in a world that was evolving around him. not that he wanted to die at 39 but this is almost like a justification to a life cut short that was going to be hard to live in 1880s, and 90s. >> eric i was interested in what you wrote about empowering pirates and other literary works in movies and popular culture. in your historian

digital and all price retailers have disrupted department stores merck's disrupted the oncology with keytruda. natural gas, g.e.'s price? that's turbines. roku has disrupted cable tv. facebook and alphabet disrupted traditional publishers rent the runway the apparel business harry's and dollar shave club disrupted razors by the way, dollar shave, it is so sharp it cut me last night. i had to put the tissue paper on you see it it's like this i went. i think i slit my throat with this i think this. it's too sharp the cloud plays have obliterated on premise software. right now it feels like there are fewer and fewer stocks that are immune to disruption third, some markets are too ugly to participate in at the moment. the auto industry is in awful shape and now gm is on strike. no paint, no glass, no seats, no aluminum, no nothing anything with auto exposure is likely to miss numbers that's deadly in this environment. then there is boeing which is weighing down the whole aerospace industry there are so many companies that make parts for airplanes, i expect them to cut when they report fo

but stocks like bristol-myers, merck, eli lilly, biogen, they can and should be bought on the way down let me give you a couple of others monday mondelez and that's attractive to me when we get these sell-offs, we tend to hear broad sweeping predictions. we hear apple moved up too far too fast or starbucks didn't rally so the quarter may not be that good. i want you to view this pullback as a gift. cross your fingers and hope the market will let you into apple at lower prices because it's gotten too cheap given its fantastic evergreen stream of revenue. tell yourself the sellers are wrong. it is time to pick up some starbucks, which had a truly fantastic quarter which rallied a paltry 37 cents. that stock is a buy. bottom line, when you look at the sell-off through that prism that i just gave you, the one after everything taking into account that's going right, you'll recognize that nothing has changed here except the stock prices got cheaper the market is throwing you a sale that it doesn't need to throw. that's opportunity, not tragedy. mark in arizona, mark? >> jim, what's up? >> no

merck. i attack to the am lloyd build up in the brain and with whether the hypothesis is right.say they think it is and maybe the other drugs didn't hit it direct are connectly weren't getting into the brain well enough. they have ways of explaining why the trials didn't work where they say theirs does. >> meg, thank you. meg tyrell at headquarters. >> we have been saying a while now -- and it's lagged we've been saying a while biogen is too cheap obviously this is the headline this is the lead this issue news and the fact gnat fda didn't shut it down and there is a pathway is encouraging but look at the earnings release. they had a fantastic quarter 9.17 eps the street at 8.30 beat on the revenue side they have many other drugs at 9.5% forward earnings with the move today i will say again biogen is too cheap. i was dispoint appointed how it sold off laet the day. i don't think you can achieve the raymond james analyst. i don't want to vindicate or criminalize the wrong person but zero% probability? how can you attach a zero% probability to anything but death which is inevitable

the good news for bristol news, bad for merck.ven if today's vicious 16% nine, still up 23% for the year. not so bad notice i did not pick any stocks with economic sensitivity or trade war issues we got news from texas instruments. weakness across the board was ugly and brought down the whole semi cohort after-hours. those stocks are often too hard to own although i think texas instruments overdid it these gains can be yours and i do believe they will outweigh the losses and be a nice already let's just say sidekick to index funds. anybody who lacks the time 0 put in the homework to own individual stocks but if you do have the time and willing to do the work beat the averages with a bejoegen or a centene. tom in illinois. >> caller: thanks for taking my call. >> of course >> caller: i bought shares of viacom b thinking that the merger between cbs and viacom would help bring up both shares and it hasn't been the case and i'm wondering what is your feeling on this merger and also what is your feeling on viacom b? is it still holding

. >> i love -- merck, pfizer, bristol myers better spots. >> betting upon a rocky road for shares ofountains lock at our cramer cam jim talking to the domino ceo on the back of earnings results the full interview on "mad money. live at the nasdaq in metis square much more "fast money" still ahead. make nature's bounty hair skin and nails step one. it's the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. nature's bounty, because you're better off healthy. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ - [spokesman] if you've tried colleg(group cheering)shed, snhu lets you transfer up to 90 credits toward you bachelor's degree. - [woman] it doesn't matter how old you are, you can do it, you can finish. - [spokesman] finish your degree at snhu.edu >>> welcome back to "fast money. jp morgan slamming the brakes on the consumer the firm downgrading allied financial warning of increased fundamental risk and warning that a looming recession could take a bite of auto lending. ground grading allied from neutral to overweight. cutting the price if 35 to 33. while it was a you have tough d

look at your mercks, amgens, pfizers, bristol-myers.se stocks are probably where it is right now for the investor, at least for this one. liz: phil, the yield on the ten-year is really strange to me at this point. two days ago we were at 1.81%. look at it today. we're down 11 basis points at 1.7%. what do you glean from that, and does it sour you on sock it is or change any -- stocks or change any of your perspective? now we're at 1.69%, 12 basis point. >> it makes me even more bullish on stocks, come on. if you can't get money in interest rates, you're going to have to move away from bonds and into the stock market. yeah, we get back to this whole u.s./china trade deal. sarge is right, we've been in this triangle, i wouldn't call it ascending, i'd call it the bermuda tria angle -- [laughter] it seems like everything disappears. at the end of the day, listen, i think we are going to start to go up. we do talk about trust. you know, that story from bloomberg, kind of unsourced this morning saying that xi doesn't want to make a deal. i i

i do prefer merck, by the way, and then phillip morris. they're dubious because i've been so mean to big tobacco that i'm a shill. that person is taking a permanent intellectual vacation and is in my twitter file. let's go the andy in kansas. andy >> caller: yo, jim. >> yo. >> caller: thanks. it's a pleasure to speak with you. >> same. >> caller: fly, eagles fly and i love the show. >> we're going down to dallas this sunday night and we either fly or -- well, never mind let's go >> caller: my five stocks are jones lasalle, starbucks, siriusxm, comcast and paypal >> hmm curious. okay jones lab. no one owns that stock that's a first time for us let my take a look at how that's doing. i like that stock. i like cbre. i like cbre more than them but you know what? okay, 11 times earnings. real estate, starbucks, we covered that one that's obviously beverage and restaurant siriusxm, i was on this morning fantasy radio. paypal is payments and comcast is entertainment entertainment, sirius. let's change this out as the music plays and let's put in

but what he has tohr do here ise has to just have all of that ukrainian merck hanging off joe biden 24ou think you will get into the specifics of the impeachment efforts against him tonight? >> i think it will generally reference that it's a disgrace, which it is, and that there is no due process, which there isn't, and they are in fact trying to remove a president from office in the same stealthy underhand way in which comey and peter strzok and company ranl their original so-called "counterintelligence operation" four years ago, but i think is actually got to go beyond just saying it's a disgrace and explain why it is. and that it's not him who's being robbed, it's actually the millions of people who voted from him who are in effect having that election nullified one where the other by the democrats. >> tucker: we got an election a year from now, seems like that be enough. mark steyn, thank you for the preview, that was great, it's great to seeor you. >> thanks a lot, tucker. go get them, mr. president! stillker: lee greenwood playing in the background and we are going to hand it ove

look at merck's numbers, look at united health's numbers, these numbers are strong but the negativity going in and that whole idea, scott, was something that permeated throughout the market everybody talked about everything negative. >> rightfully so, though earnings are still negative. we had a kumbaya moment in trade, but there's a story out there today that the so-called phase one may not be signed at aipac. >> it's phase point five, it will be signed >> what i got wrong at the end of last year i didn't expect the fed to ighten. when the fed tightened and made long-term yields come down, how do you know offense is working now? because the ten-year note yield has bottomed you have worse economic data but long-dated maturities are going up that's telling you that the fed caught up to the market. >> fed will cut tomorrow, right? >> fed should cut tomorrow >> then pause? >> the best they got is 1.6 to 1.7 core inflation >> you think they'll still sound dovish >> absolutely. >> isn't the risk that they -- >> the data is getting less worse. in their mind the data is still going down ism

merck, unitedhealth, cardinal, three distributors here health care sector the best performer this week really helping these stocks as you can see right here. unitedhealth of course an insurer. s&p laggards, boeing not just a dow component but an s&p component. we mentioned the scandal with the faa energy was the worst sector, noble and timerex -- cimarex trading lower. liz: j&j boeing, accounting for all the dow's losses right now. before the break we showed awe chart a mystery chart if you will. we want you to look at it again. 14 years ago was the last time this commodity saw such lofty heights. any guesses? it is, dissolve, natural gas. you would have to go back to november 13th of 2005 when nat-gas was at 15.37 per mill british thermal units. today, a paltry $2.35. our next guest says now is the time to buy, a long-term investment opportunity is on the horizon. hennessey gas utility fund senior vice president and portfolio manager ryan kelly is here to make the case. i heard this before, ryan. you have to sell me on this one. >> thank you for having me. that is a very interesting c

if i'm going to own health care, i'm going to own pharma or big ones that i know you own >> pfizer, merckbusineristolm. >> and they're trading off of what might come out of this and that is dangerous territory. because that could swing either way, scott it could be unfavorable for them which is unlikely or get a whole lot worse. i do agree with steve. which is why i'm in the pharma name, big names. >> it looks so cheapful you take a look at future earnings then you take a dive. and even i with my value stock, i'm not getting into this. just on the other side, going down to maryland this week, in the baltimore conference, this was one of his top picks >> interesting >> what was the basis score? >> i think it was mostly on valuation. >> that's interesting. >> i hate the space napharma and bio right now, teva should outperform because most of it is in generics which should find a benefit in price control still, i think it's going to get tarred and feathered i'm not in it. >> even from the opioid issue -- >> from the stock -- >> but the jern nashg generics- >> yes, to that end, we used to own

stock like you want to go with seagate technology, cisco, wells fargo, cvs, merck, pepsi, telephone and verizon. you have sarge's picks right there. liz: all right, we'll take 'em. and you have been saying for a cash.e of weeks now going to gentlemen, thank you, because we have a lot of abrupt moves in the markets right now due to differing headlines, cross-currents, interor national, diplomatic -- international and, of course, market-related federal reserve comments. with the closing bell ringing in exactly 30 minutes, we're sweating it out here. the dow is down 153 points. and, yes, while the federal e serve chair and the china trade war are sending shock waves, china could be ahead of the united states when it comes to one very important financial instrument of the future. what the digital china coin, and is the federal reserve falling way behind? we take that up next with the ceo of ripple. it's a fox business exclusive when "the claman countdown" comes right back. ♪ ♪ my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insuli

plenty of cloud and could be some missed and to merck over high ground and sorts the rain is the day of uncertainty in the detail. looks like low pressure will be in charge but if the positioning of the centre of that low that will affect where we see the wettest weather and strongest wins. at the moment saturday is looking like an u nsettled saturday is looking like an unsettled day misspells of rain and looked like there could be some fairly strong winds. we will keep you up—to—date as we get closer to the day and we have pinned down those details. to purchase a touchdown or what we will see on friday, still staying double figures the most. it is sunday and low pressure is still with us. looks like it will start to fill those and other unsettled day on sunday but not a total wash—out. spells of rain around and there will be a fair amount of cloud. in between there will be brighter spells. temperatures on sunday still in the double figures. highs of around 12 or 13 celsius across the south. more like 11 or 12 or 13 celsius across the south. more like 11 or12 in or 13 celsius across

first how about merck?company has a groundbreaking cancer immu immunotherapy drug called keytruda easily one of the big wrest blockbusters in history. maybe the biggest. yet 16 times earnings. that's nuts. i expected pfizer to give you a shortfall now that its wonder drug is off patent somehow this stock trades at 14 times next year's earnings 3.8% yield are you kidding me biogen may have come up with a way of treating alzheimer's. they can't stop it but they might be able to slow it down. the analysts were all skeptical initially. one by one they're being converted. i think one by one they might all be believers because biogen resumed this work at beheftd of the fda. nine times next year's earnings. that's insane. this is a $54 billion company that could be worth double last night amgen reported a better quarter that didn't require management to cut their forecast. amen i'm calling that a win with these guys amgen started to win back major market share in the migraine business their key franchise amovig ha

. >>> merck raised its forecast. keytruda doing very well for them. that stock is up 2%. pfizer, another big drug company, also raised its guidance. that stock is up 3%. that is premarket. add it all up and here's how the overall markets will open this morning. futures showing a gain of roughly -- sorry, a loss of maybe 40 points for the dow, a fractional loss for the already record high s&p. look at the nasdaq. up again. if it opens there, it will open at a new all-time high. >>> boeing, the company's chief will testify in congress about mistakes that led to two fatal plane crashes. that's dennis muilenburg. the stock down a fraction ahead of that. we will show you dennis muilenburg's opening statement at the top of the next hour. >>> then there's this. zombies, they make for great drama tv movies, et cetera, but they're not real, obviously. regardless, that did not stop the government from paying thousands of dollars to produce a zombie apocalypse survival guide. iowa senator joni ernst has had enough of that. she's going to cut down on this kind of government waste. sh

you've got some really good, strong franchises like pfizer, united health care and merck most of thosenies have high dividend yields, 2.1% in the etf. a lot of that is because the stock prices have come back. dividends are pretty secure. >> so whether it's facebook, cooperman's 25% down on warren or sanders, health care is laughing in the political space? >> yes there's a lot of talk in front of the accuracy and it all seems to go away and they're we're fine aging global population and good, strong franchises like the ones that i manage, cash-flowing businesses as long as there's not a complete government takeover, i think you jump in and get that, especially if you're looking for yield and good long-term play. the xlv is that for me. >> last chance trade come i coming up next, we're going inside the market zone commercial-free coverage of the final minutes of trade where we'll tell you everything you need to know as an investor and bring you rneaings from netflix. stick around we're back after this break. your brain is an amazing thing. but as you get older, it naturally begins to cha