lower generic drug prices hurting mylan? one of our next guys say it's not that bad the other says, it's not good either what's in store for the stock in the company next >>> welcome back, sharing staging a bit of a comeback after plunging nearly 10% only their missed earnings. stock briefly turned positive today before moving back in the red. certainly off the lows meg is here with more, meg >> investors may have been expecting the worst from mylan's second quarter that stock has been plunging as warned about generic price erosion for generic drugs in if the united states. now mylan is feeling the impact as well. second quarter earnings missed estimates today and mylan lowered it's forecast. our industry along with the entire health care sector is at an inflection point while saying the company's diversifying it's products and geographic areas. now some of the weakness was due to competition or the epipen which it said it would launch amid prices controversy last year in addition two major new drugs will be deferred to at l

mylan produced a generic and the justice department.urn to market at valentine's day of this year. so we see new competitors in the marketplace, and that has definitely helped the consumer. it's going to help continue to bring the price down. we had a congressional hearing in the fall of last year in response to the epipen. and as you mentioned, there was outrage over the pay of the executives much like wells fargo and the shareholders revolted as well calling for investors to address that as well. so there are has been a lot that has changed but honestly, we just finished the first chapter. there's so much more to this story. and the report that's out that's, again, highlighting the skyrocketing rates of food allergies in the united states with these insurance claims. 26% of those claims are related to peanut allergies. but 33% are related to food in general. and so what has changed in our food supply? ashley: that's all key question, isn't it? why has this exploded over the last ten years? >> over the last ten years. and, again, you k

i think 2018 could be a big year for mylan. >> so is the problem affecting mylan the same one that thele industry is dealing with, or is it more specific to this company. >> absolutely, it's a phenomenon i think mylan's business though is global. only about 40% of their business is based in north america, but they are the number one or number two generic drug company by volume. they too are facing price erosion. >> what do you contribute the stock's recovery today down 88% earlier today it has come back and it's starting to close in the green what do you think is driving that something substantive or covering >> well look, mylan cut their guidance and that was sort of expected they had already signalled that their generic business was facing pricing pressure and i think it was sort of a given that mylan would also face that same identical pressure when they reported their second quarter results. look, the uncertainty is baked into the stock price here. that's why i have a buy on it and a 42% price target >> look, i was being lib earlier about gee, they're complaining that drug prices a

have taken the mylan offer.hould have taken any offer that was made when all of these guys were talking about consolidation. >> teva has a business, mylan has a business but the problem is they come in and cut numbers and you can't, you cannot survive or number cut in this environment. market isn't going to let you. mylan, wow. >> looking at all the major media companies, of course disney is down, really it's not that significant a decline viacom is down 2.5%. >> viacom. >> yeah. just the way you even said it was insulting. >> it was. >> whoa. >> sixers going to win 50 games. i trust that process. >> no, you're getting ahead of yourself 50 is too many. >> i thought you'd be happy. you didn't even follow him. >> i'm done. what can i tell you? it was a horrible baseball season. >> you and me we'll go to the mall national past time. >> that's what we'll do? viacom, a new 52 week blow >> apple up. companies with cash have a lot of opportunities. >> the sell off s that the indiscriminate selling you described at the

mylan says agreement rol federal government and potential claims by some hospital. deal also allocates funds to medicade programs in all 50 states. >> more american teenagers are sdiing from opiate drug o over'ss and heroin was the main cause of deaths in this age group. precipitation overdoses appear to be the bigger problem among middle even older people and experts say there needs to be more access to methadone like drugs. they note few avictim districted young people with treated with the source of drugs. >> charge westbound dropped against a protester in april. dea determined adamet ger was carrying less than two ounces of pot. he will stand trial on different charges and stemming from a different protest he and other activists were changed with violating federal law by smoke pot on federal property. >>> well there's nothing quite like coming home. >> today nba george county for a special said operation and saed pleasant. dodzens turned out for the kevin durant parade this morning. his commitment to his hometown community. originally a festival was schedule fod

mylan shares rose almost 1% to 3i$.08. >>> giant preparing to buy charter communications. they haven't officially presented a bid just yet. shares of charter rose nearly 3%. wendy's said it had fewer company owned restaurants in operation in the latest quarter. that caused revenue to slip. but a rise in franchisee or franchise revenue, helped off estimates. profit at the chain also beat street targets and a shares po ed to $15.81. despite higher 's place mi revenue. but the company beat earnina of 40 cents a share. shares of the children's place off 4% to 112.60. >>> and fossil saw weakness in all pr as it reported a loss. fossil said it sees revenue falling as much year. much more than thought and shares get this, down a quarter today. losing 25% of their value to fin 8.87. >>> some of the country's biggest tech companies are making a big push into health care. like google and apple. and now, it's amazon's turn. that company is trying to help older americans stay healthy with its voice activated assistant, alexa. >> what are my activities for today? >> your activities tod

. >>> the maker mylan has come up with an agreement.will pay $465 million, though it will not have to admit any wrongdoing. mylan came under fire after raising the price for a pair of epipens. >>> a class action lawsuit claims poland spring water isn't actually spring water. poland springs is just common ground water. poland springs parent company nestle says they meet all the qualifications. >>> in tonight's preseason game against seattle he'll wear custom shoes that are white with a thick brown strike, starbucks logo and laces. know connection with commercials. he just loves the company. this is reportedly as the nfl relaxes strict footwear guidelines during warmup as long as the views aren't political or offensive. >> i'm sure starbucks is grateful for that advertising. how much do you have to pay for a football game. >> i'm sure they're really happy. they'll probably be tweeting about that. >> roxana saberi at the new york stock exchange. thanks so much. >>> a new kind of therapy that allows those confined wheelchairs tap dance with

we'll give you the trades on office depot, wendy's, mylan, ene medviser and we'll do that wh wco backnutes on the halfti"halftime report." i love you, couch. you give us comfort. and we give you bare feet, backsweat, and gordo's... everything. i love you, but sometimes you stink. soft surfaces trap odors. febreze fabric refresher cleans them away for good. because the things you love the most can stink. and plug in febreze to keep your whole room fresh for up to 45 days. breathe happy with febreze. you myour joints...thing for your heart... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. >>> all right. we're back with the promised blitz. office depot plummeting today. they missed on the top and bottom lain. >> miss, miss, outlook is terrible their store closing. nothing positive you can take away from this report. if you would want to be in this name, not sur

he faces up to ten years in prison >>> pennsylvani has reached a epipen mylan will have to pay the state for overcharging they h pay the feds $450 millio mylan accused of underpaying >>> a woman is recovering from i'll show the mugshot of the man who hurt the officer. it started when someone called 911 after they heard him making there, police say mills tried to run away. during the struggle the officer mills had cocaine and heroin. >>> a local combat veteran just armed force. nbc 10 and south philadelphi the goal is to help empower, today nbc 10 learned about some >> have various activities and events workshops that are ongoin throughout the month. some place where we can support >> she says she hopes the new >>> imagine the endless jackpo the jackpot is up to a whopping $535 million. ticket are up. the drawing is saturday night. as they are pulled. >>> all right. let's check in on our nbc 10 we're tracking some severe within the next hour. this is a live look at some nbc 10 steven fisher is live for us this afternoon in montgomery >> hope people brought rain gear. >> rep they did. but

take a look at mylan, up 1%. why?a year after the epipen controversy sent investors and allergy sufferers, particularly parents of kids who rely on life saving epipens into a fit of rage by spiking the price to more than $600 for a two pack. mylan, that company that makes the epipen has now finalized a $465 million settlement with the justice department which is actually resolving claims it overcharged the government millions for epipen drug. that settlement by the way is far less than what the government was overcharged. >> no guilt. liz: no guilt. with this settlement mylan admitted no guilt. as the stock does move higher, it is well off 52-week highs. this is a classic pr disaster and they knew it. >> the no guilt thing, remember, the justice department getting the companies when they enter into the agreements to admit guilt. that helps the class-action lawyers, if you get them to admit guilt and the numbers, the penalty, the out-of-pocket expense goes up dramatically when you have to pay them off. the fact you had

shares of mylan falling today. the drugmaker hit by a wave of generic price cuts.s already hurt other companies. mylan posts second-quarter estimates.at miss american worker productivity picked up in the second quarter. according to the labor department, employee output rose as an annual rate of .9%, beating estimates. rodriguez plans to capitalize on the retail crisis a party license to in the miami area -- looking for shuttered brick-and-mortar locations to fuel their expansion. that is the bloomberg business flash for this hour. check out what's happening to stocks as we approach the close. stocks are lower today. fire and fury comments sending a ripple through the markets. ♪ who knew that phones would start doing everything? entertaining us, getting us back on track and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinity mobile. you only pay for data and can easily switch between pay per gig and unlimited. no one else lets you do that. see how much you can save when you choose by the gig or unlimited. call or

we may not get the memorial designed by some unlike mylan but we do have these appendices and if you think about your own experience of loss and a rupture in pain when you've lost a loved one in your life and you look at these numbers and you think about the magnitude of what this means for california indian communities it's not just the political leaders who were lost at some others, the fathers and the aunts and uncles and grandparents the people who knew how to make a bow, the people who knew how to leave a beautiful basket with the traditional designs of that community and yet after all of that, the story of unimaginable horror and the state's startling involvement in navigating in creating these programs you have this dark cloud of genocide in california but at the same time you have this unbelievable story of this survival. today there are 150,000 california indian people. 109 are federally rep denies this drives up and down the state to another 78 california communities who are not recognized by the federal government so all of these people are the descendents of folks who som

the payment would settle claims that mylan mis-classified epi-pen as a generic drug...rder to avoid rebates - mostly payable to medicaid. epi-pen is an emergency injection used for severe allergic reactions. as a brand name drug, it is subject to higher rebates payable to medicaid. that regulation is meant to protect taxpayer-funded programs from large price spikes for drugs only available from a single source. the justice department says that to keep from paying the rebates, mylan wrongly classified epi-pen as a generic drug. ( pam ) could self driving cars.... drive away millions of jobs. a look at the impact this new technology could have on the workforce.( grant ) and kevin durant returns to his hometown to celebrate the warriors' title. his response when asked about whether or not he will visit the white house.( pam ) plus, we are following breaking news out of spain. a raid has just unfolded near barcelona ... we are learning it foiled another terror attack. the dramatic video in just minutes. <"putting news first. pam moore, steve aveson, brittney shipp and gary

mylan will pay $465 million.egation that is mylan misclassified epipen as generic product reducing the amount of rebates owed to medicate. lauren: tell us about the obama premium hike in iowa in. >> this is pretty big, iowa only obamacare insurer is looking for 57% rate increase, that's 13% more than they asked for in june. it's because of uncertainties over federal health care subsidies, this is a growing trend and insurers are stuck in holding pattern waiting on congress and the trump administration to decide the fate of obamacare. lea: we got clarity on the subsidies. i want to talk about this because i'm going on a little trip to alaska and i like to look at google maps before i do and now i'm hearing that google maps is going interactive. >> perfect time for you then, google will come in handy for people traveling, so anywhere in the world, travelers can access the q&a feature through listings through any local business and ask questions about that business, the owner can answer or anyone else who may have a

mylan was paying 1.27 billion less than it should have in company rebates.ent deal has been finalized overnight. another deal is the tie-up between time warner and at&t. you might remember president trump suggesting there would be further scrutiny on this deal because of time warner's ownership of cnn. and the soaring value of bit coin we're covering here is now up to $74 billion market value wise, up $30 billion just this month. >> wow. thanks so much. >> the navy is takings did plinry action againplin -- disciplinary action against the commander and leadership of the ""uss fitzgerald" destroyer that left seven people dead. >> coming up next on "morning joe," officials arrested a third suspect in the van attack. >> and now republican senator bob corker is raising questions about the president's stability and competence. plus the senator's only black republican weighs in. >>> welcome back, everybody. before we toss it back to "morning joe," let get a look at the stories you'll hear ahead. >> the president will huddle with his national security team over thei

the $465 million deal resolves claims that mylan overcharged for the medication for ten years.ation became the center of a firestorm over drug price increases. critics say it should be higher. >>> a florida deputy is charged with reckless driving after video showed him driving 104-mile-per-hour, smashing into that teeny smart car. the man in that vehicle suffered a brain injury and fractured skull. the deputy was pursuing a suspect at the time of the crash, but he was told not to pursue or try to stop the vehicle. >>> and call it a case of mistaken identity. >> four sisters called the los angeles county sheriff to report a burglar downstairs in their house. so when deputies arrived they heard a break in when one of the women called out, it's an owl! >> that wasn't code for anything. it really was just an owl. deputies captured the bird with a blanket and released it outside. no one was injured. not even the owl. >> i guess they asked -- >> you're trying to come up with an owl pun, aren't you. >> i was going to make really bad owl jokes, but i guess i'll just guess we know who d

. >>> epi pen maker mylan organized a $455 million settlement after finding they overbilled medicaidor allergy injectors for more than a decade. for allegedly overcharging the government. the new case involves paying medicaid too low rebates for the devices by classifying its brand name product as a generic. >>> the judge has cleared the way for nevada to allow more businesses to move marijuana from growers to stores. in order to keep up with growing demand. the judge lifted an order that blocked regulators from issuing pot distribution licenses to anyone other than alcohol wholesalers, it's unique because it provides liquor wholesalers the right to provide marijuana unless they cannot keep up with the demand. >>> a recently released study sheds light on americans drinking habits. americans are drinking a lot more apparently. they followed drinking patterns with 400,000 people. and they found that during the time alcohol use disorders rose by 50%. researchers estimate that 30 million people in the u.s. struggle with some type of alcohol abuse that is one out of of every eight america

the justice department says mylan overbilled medicaid by more than a billion dollars, over a decade. still to come on the newshour: we talk to leaders of two cities about the controversy of removing confederate monuments. what white house strategist steve bannon's recent statments reveal about the trump agenda. making sense of the retail industry's transformation. >> sreenivasan: now, to the fallout from charlottesville, and the spotlight it cast on confederate monuments. the president spoke out in their defense today, even as the campaign to clear them from public spaces intensified. statues of confederate leaders, in baltimore, removed in the night. a monument to confederate soldiers, in durham, north carolina, torn down by protesters monday. virginia governor terry mcauliffe joined in, on "cbs this morning." >> it's time for these monuments to come down, it's time for us to move together after what happened in charlottesville. >> sreenivasan: on twitter, president trump lamented the loss of confederate monuments. "sad to see the history and culture of our great country being rippe

. >>> the maker of epipens made a settlement and resolves claims that mylan medication for ten years.he revelation became the center of a firestorm over drug prices. now, federal and state lawmakers say the settlement should be bigger. >>> we're now seeing the video that led to a florida deputy facing criminal charges. he is seen driving at 104 miles per hour when he crashes into a smart car. now, the man in that smart car suffered a brain injury and a fractured skull. the deputy was pursuing a suspect but investigators say he was ordered not to do that. his trial starts in ten days. he's charged with reckless driving. >>> this wasn't your ordinary pickup at the drive-through window of a miami burger king. the thief saw no one in the booth and pried open the locked window and then you can see he takes the cash register and off he goes. gives it a good yank, disconnects the cable, runs of 0. hasn't been seen since. >> he knew what he was doing. >>> time for preseason football. >> the highlights from espn. >>> good morning, america. i'm nicole. he's neil. he has the bad highlight so he

mylan's st pressure today and sandoz reflected the same dynamics. wells fargo analyst says there are multiple forces at work. >> the buyers just got smarter e sayin we want to reprice, not just once a year, but maybe twice. part. the other part is you're seeing that other players are coming to the market and the fda has done a really good job. they see giant backlog. well, so when they approve approving the first, sometimes, they are, but a lot of time, caused by limited competition. >> the pressure on teva comes around the anniver closing of its $40 billion acquisition of allergan's generic drug unit. an top of that, they are also sea new ceo. it will be a big job for whoever takes the role. >>> aetna lifts its full year earnings outlook and that's where we begin tonight's market focus. the guidance follows the health insurers profit and revenue. aetna, which has exited most of the obamacare insurance markets said they were held by the exchanges as well as an inkrecre in medicare membershy has no pl to re-enter the market, it could under the right

justice department has subpoenaed mylan over its opioid drug sales.tes and cities have sued the drugmakers for falsely representing the risks and benefits associated with the addictive painkillers. in 2015, there were 33,000 deaths from opioid overdoses. on thursday, president trump called the opioid epidemic of national emergency. it's a good time to be th buyina new car or truck. car dealers are desperate to jumpstart sales and the cut prices on new vehicles by the most of the last recession. according to the government report on consumer prices, vehicles cost six tens of a percent less in july than a year ago. that was the biggest drop since 2009. and that is your latest bloomberg business flash. investors are turning their attention obviously to those inflation numbers out earlier today after four months of missing economist estimates. consumer prices may be on the rise, but fed officials are maintaining their dovish tone. >> to get to the euro over your number of 2% until some of these very low readings drop out of the statistics, six to 10 month

republican incumbent is the former set mylan the district attorney. he did not indict the police ,fficer who killed eric garner and that was a big controversy. he won very easily. it is a very tough district. that mylan is for typical -- prototypical trump -- staten island is prototypical trump territory. he is an army veteran. his name escapes me at the moment, but he is a purple heart veteran. profile,have fit the but it is a really tough district. new york city is the most tv adsve place to air then, except for parts of new jersey. it is one of those district where we should compete there, and if a year from now, we are talking about >> thank you. >> hello, my name is kathleen allen and i am running for the house of representatives in georgia's district. seventh[applause] i am a progressive and my platform is prohealth. four parts. we need to move to single payer. i would lose my job and i am ok with that. trial lives, and i not, i mean respecting the life of the mother as well as the baby. and men, women, and children from before birth to old age.

now you may not recognise the name mylan, but the drug company came under intense regulatory scrutinyncy allergy shot epipen. now, the company will be reporting earnings, but what investors will be looking for is comments on the falling price for generic drugs. richard dunbar is investment director we wa nt we want to update you on a story that's developing in france. the mayor is talking about what happened earlier today where a bmw drove into soldiers and the mayor said this is no doubt it was a deliberate act. more detail coming through to us. reports that this car hit soldiers who were on patrol outside paris. it says it injured six people. two of them were seriously injured. the vehiclejust them were seriously injured. the vehicle just drove off after that incident. that took place at 8am this morning. that's 6 o'clock gmt in the northern western suburb of paris. we'll get much more on that for you and bring it to you here on bbc news. when we hear more, we'll update you. the markets across europe. they are edging lower. richard dunbar is investment director at aberdeen asset man

. >> mylan launched generic for $300. and boosted coupon program to cut patients cost. then they got a letter from their in shoouer. they're no longer going to be covering epipens. only the generic version. they have taken these off their plan. >> at their farm see. generics were out of stock. that's when they looked at it. >> this is very personal for us. >> aaron and invented it after growing up allergies. >> carry it in our pockets every day. >> every day. >> you are sa petszed to carry two. right. i have that as well. >> smaller and comes with its own voice instructions. basically any body who picks up the device is able to have a voice guiding them. what do i do next? >> i think that's key. all about confidence. and, we saw hesitation. >> that one is a lot bigger. so, this one its a little easier to hold. >> lexi henniger liked the product not the the list for -- >> that was disappointing. called me before they filled my prescription if i wanted them to fill it. but drugmakerer, stepped in with its affordability program. and the families out of pock emt cost went t

dom chew just reported a little bit about it de deere also at all-time highs and mylan going lower, hitting levels not seen in four years. >>> i am michelle caruso-cabrera north korea vowing to teach the u.s. a severe lesson if they launch an attack against pyongyang. security council vote was unanimous. a strong statement against north korea. new sanctions are in response to north korea's two intercontinental ballistic test in july. it could slash our $3 billion annual export revenue by a third. the intention which bans u.s. members from banning coal, iron, iron ore and seafood are to force them to sit down and negotiate an end to their nuclear program. >>> north korea still in the spotlight as the president starts a week of a working vacation kayla tausche i live >> reporter: the focal point of many of the president's conversations. he had a roughly hour-long briefing with secretary of state rex tillerson traveling overseas in asia as well as general john kelly, his new chief of staff. the white house hasn't provided any details from the call. a readout from the call looked much like the

warned the condition many times about the overcharges is that tops a billion dollars over 10 years and mylan came under fire for raising the price of epi pen going up 400% from 2010 to 2016. >>> also, today a busy time for many pediatricians and family health care providers, on ton of regular back to school checkups they are doing some catchup vaccinations, to help families comply with pennsylvania's new school immunization law. >> aren't you happy to go to big boy school? >> 5-year-old noah is ready to go to school. >> i got a book bag and lunch box. >> and is up to date on his vaccinations. >> doctors at the childrens hospital of philadelphia many every teen in philadelphia has to be up to date by the first day of school. >> parents need to show a certificate or letter from their provider, showing their child has all the required vaccines or a letter showing they will receive them. in the past parents had eight months to catch up. if you think about it it's the entire school year and that may have allowed more cases of preventible disease fz school. this year there are two other require ma

people are quitting their jobs as for the earnings side of things, michael kors, ralph lauren, and mylannd disney bob iger will be on cnbc, that's 4:00 p.m. eastern time today, it's a must-watch. of course,everything on the media landscape is changing. lots of deals to talk about and contact with what's happening in the market it's fascinating right now >> in terms of the dow's outperformance, if it can get a stronger than expected performance from disney what that means for the divergence that we're seeing between the dows and s&p that we've been watching closely >>> a developing story overnight, google has fired the employee who wrote the controversial internal memo about women in tech. the engineer's ten-page manifesto asserted why women have biologicuiological differet prevent them in from being as successful in tech the unnamed engineer said he had been dismissed for perpetuating gender stereotypes yesterday, the ceo pichai said it crossed the line. >> this is going to be a very hot topic of conversations of course, i'm the father of a daughter i have strong views about this as well

mylan down after wells fargo warned around the generic space, and viacom also lower.arently time warner cautioned forecasts that wait on those shares. the nasdaq finishing flat, but a lot happening beneath the surface. emily: apple wowing with a high today. we spoke with tim cook yesterday. he was optimistic. what impact did this have? >> probably not so much. that apple quarter was tremendous, especially in terms of the outlook allaying fears around the iphone next. the revenue numbers suggested pretty much everything is going just fine. you would think that would maybe give a boost to facebook, amazon, alphabet, and netflix. instead those stocks finished basically flat, and some of the money going into apple could have come from those tech names. interestingly, apple is now better than amazon. if we hop into the bloomberg terminal and take a look, this is the year to date chart. bottom of the s&p 500 up 10%. up top in yellow and white, facebook and netflix up 45%. in green, apple overtaking amazon in blue. apple is now trying to take out netflix and facebook. time w

we have got mylan is moving higher it's bucking the trend that company is finalizing a $465 million deal with the justice department to settle claims it overcharged the government for its epipens and alibaba, rallying on its earnings beat. that stock is up 4%. l. brands, plunging to new lows on the back of its weak outlook. and walmart lower, despite beating estimates. that stock is down more than 2%. we are going to have much more on what's going on with that stock, straight up ahead >> morgan, welcome to "power lunch. i'm brian sullivan we begin this hour with breaking news from spain, where a truck rammed into a crowd, one of the main plazas in barcelona it is now officially being called a terror attack let's get to sue herrera with the very latest. sue? >> brian, thank you very much. we know at least one person is dead and multiple people are injured. it has now, officially, as you mentioned, been declared a terrorist attack it took police some time to give it that designation. just about 5:00 p.m. barcelona time, this white van jumped the curb and plowed into the very crowded city c

positions in pharmaceuticals during the fourth quarter and in the second quarter david tepper eliminated mylan and pfizer john also exited stakes in the pharma and bio tech companies it held starboard and third point sold shares in baxter banks were unloved by hedge funs during the second quarter. soros sold out of goldman sachs and moore capital eliminated morgan stanley third point dissolved its stake in jpmorgan and duquesne got rid of bank of america on the flip side, berkshire hathaway disclosed a stake in synchrony financial. he sold out of ge during the quarter. we saw a lot of hedge funs take money off the table in f.a.n.g.s, es ppecially in amazn tiger pared back their holdings in f.a.n.g jana took a stake in blue apron. there was snap jana, third point, appalossa and moore sold out of snap in the quarter. >> this move in banks is fascinating. the bigger pullback they experienced was end of q1, start of q2. the timing of when this happened is the secret we want to know the answer to, as to whether they decide to go back in again. >> that's the question with these things they're delaye

positions in pharmaceuticals during the fourth quarter and in the second quarter david tepper eliminated mylannd fpfizer from his portfolio. starboard and third point also sold shares in baxter. banks were unloved by hedge funds during the second quarter. soros sold out of goldman sachs as did moore capital which eliminated morgan stanley and slashed stake in boa third point slashed its stake in jpmorgan and duquesne got rid of bank of america. berkshire hathaway disclosed a new stake in synchrony financial. we saw a lot of hedge funds take money off the table in f.a.n.g.s, especially amazon tiger management and tiger global pared back f.a.n.g. holdings only one hedge fund we track took a stake in blue apron ja jana then there was snap. jana, third point and appalossa completely sold out of snap during the quarter >>> the next apple watch continue need to be linked to the iphone to make calls or stream music that's according to a cnbc source who says the product will be released in september apple has already announced plans to release watch os4, the wearable operating system in the fall >>> a

as for earnings, mylan and wendys report results before the opening bell after the close, 21st century. >>> top trending stories, apple releasing a first six minutes of its premiere episode of car pool karaoke. take a look. ♪ >> quegwyneth paltrow and sophie turner also slated to appear this season. >> interesting fox doing counter programming as its former powerhouse "american idol" moves to abc the network launching the four which promises to start where all other shows end. it centers around four pre-selected finalists who will have to depends oof weff weekly challenges viewers can submit an audition video for a chance to unseat one of the contestants >> they will competing with their own "american idol"? >> well, they abandoned it, abc picked it up, so apply there was no direct noncompete that said that they can't start up something similar. >> and the name very similar to the five >>> an australian cafe taking a unique approach to get people talking about the wage gap and it has the internet buzzing. they have begun charge men an 18% premium to reflect the gender pay gap proceeds

because he may have scooted through and dodged bullets here, but other pharma companies, and i bring up mylan, who raised prices exponentially, not illegal to do that, but when it's a life-saving drug, it does not pass the smell test with americans or legislators. >> he's not charged on that. >> exactly. >> he got so much attention for that, the spotlight is harsh on those companies. >> i spoke with john coffee who is the expert at white collar crime, he told me he doesn't think that shkreli is going to get 20 years, he thinks jail time because of securities fraud is usually you get jail time with securities fraud, but the judge can look at sentencing guidelines as advisory and the judge can basically determine, you know -- he has leeway here in terms of how much he has -- how much jail time he can give shkreli. he's a first-time offender, don't expect him to be in jail a lot. remember what his core argument was, shkreli's, the people that from my company, the investors in the company he took the money to put in his hedge funds, they didn't lose money in the end. >> they made money. >> immate

this tweet from our friend my bloomberg -- our friend, mylan burke. guest: teddy roosevelt was the president who signed the antiquities act into law. so, part of the interesting heart of the controversy is the language of the act was to protect cultural or scientific or historic areas. the way the antiquities act came about is back around the turn of the 1900s, there were pot hunters. different pot than we think of today who would go out onto federal land and look for artifacts and antiquities, hence the name of the law, that they would try to take these ancient artifacts of the land. congress passed the law to keep people from stealing these things off the land. but when teddy roosevelt signed the law, he then designated the that monument as something is a geological interest. he designated devils tower which is a formation. do aose interestingly to geologic formation rather than something more cultural. he had a more expansive view of the law. , we welcome straub our c-span radio audience. we're focusing on the issue of federal lands. we take your p

stan mylan is kind of typical trump territory but it's always good. [inaudible] we had a candidate who recently stepped up, former army veteran, his name escapes me at the moment. new york city is the most expensive place to air tv ads in except for parts of new jersey that also airs in new york. it's one of those districts where we should compete there and if he year from now were talking about this district it's probably a good sign for democratic hopes. >> thank you. were willing to be do the hard work that needs to be done. my question to you is how early in the process do you endorse progressive candidates do you d wait until after qualified or after the primary or do you do first come first serve. the question to ask is how do we go about the endorsement. i am in the works right now on a lengthier post explaining this but i will try to answer any brief questions. it's not hard and fast rule but we usually do and the reason why is because we don't want to be perceived as the big national group the big local race. when local folks can do an excell

mylan and others generics aren't where you want to be.eva is a sort of fallen angel it's what everybody wanted to own. everybody thought it was so incredibly safe. that's not what the story is anymore. you have to return and see what scott gottleib's got >> the second biggest. you're over weight to space. you think there is more room to go >> i do. health care has been a key nonconsensus over weight for us from early on. this has come from the health care quality, health care side pharma has really lagged back. i especially like pharma and biotech. health care, if i may. >> yes. >> it continues to check two boxes, superior growth and relatively attractive valuation. it's an interesting, i think, substitute for growth play from a tech angle and it's an interesting defensive substitute from a staples angle. >>> a huge bet on burritos one analyst reiterating her 70% buy rating the stock is down 27% in two months hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great

. >>> mylan settled with the feds about epipen pricing.65 million-dollars, a big number. soon as you know the number, factor it in, the stock goes up a fraction. we know the number, the stock goes up. >>> our next guest, you know him, has a new op-ed on foxnews.com. called charlottesville, trump need new national address that outlines our goals and brings country together. do you think that would do it, a oval office address? >> i think that is a first step. stuart, we're all americans. we have common interests, and they're not facilitated by us pulling ourselves apart. stuart: you think he would have to do mea culpa, that i didn't get it right on charlottesville, here is my opinion? >> he never does mea culpas, he needs to move forward, outline the agenda, talk where he wants the country to go and how we get there. that is the idea. stuart: do you have any idea that can bring us all together, if it is not the president, i don't know whether it is or isn't, do you have the name of a democrat or republican that could lead us together? >> st

but when i looked at his decisions on the court of appeals of new york and i see the salmon versus mylan case, what is it, the pontillius requirement of honor among partners and the relationship of partners and then i see the fallsgraph case of proximate cause. what do these things result from. these all stem from talmudic lessons of how we have contractual relations, commercial relationships. so i -- i can draw a relationship to the understanding of jewish law to our civil law. >> yeah. >> your comment, rabbi? >> okay. there definitely is a relationship in the case of cardozo who did, although he wasn't practicing, but did inculcate a certain understanding of jewish understandings. brandice really didn't have that jewish knowledge or jewish education. he later became very interested in jew day i6udaismjudaism, but one can draw a connection between his decisions in those areas and his -- maybe they had been inculcated subconsciously, but he did not have the knowledge or understanding of jewish teachingings, rabinnic teachings that for example cardozzo did. he attended the synagogue so he

a lot of jobs i think that, you know, we get a bad wrap, now biogenerics are coming watch targets mylanhard when you make decisions in d.c., might go bankrupt at this rate the idea the world's largest generic company could go bankrupt they are not making much money i don't know exactly where these criticisms come from, it is easy to pick on drug prices not rooted in reality. >> ceos health-care industry they don't want to be anywhere near you, they feel like look, drug prices are where they are, but you should not be raising them 5,000% i don't want to be near where martin shkreli is. >> i think s very disingenuous on some one point very close friend of mine raised price of botox, it is a two-billion-dollar drug and i raises it 9.9% like that number a magic value. and all of a sudden hundreds of millions of dollars of costs to health care system when drug that sells five million dollars all of a sudden goes up in price, that is not a medicine that is going to affect health care system so i think it is obfuscation guessing i think again when pfizer raises the prize 9% creating-billion-do

stuart: you know a lot of big name stocks who are down today, mylan labs is one of them.ing prices for generic drugs, mylan specialty, falling prices took a bite out of profits and the stock is down 6 and a half percent. napolitano still with us. i have to ask you about this google firing. please, look at this. the headline from "the new york times" the opinion page, here it is from anita hill, class actions could fight discrimination in tech. is that what's coming down the pipe? >> gosh, i hope not. as liz pointed out during the break, the tech industry has treated women with great opportunity. i don't know if there's a paid disparity at google, if there is and if it's based on gender, then that violates california law and federal law and there's the basis for the class action, whether this sort of off the wall memo, we all read it, it's filled with all kinds of theories and six syllabus word. this is all politics, if this is all left politics, you have a bunch of very liberal plaintiff lawyers who love this stuff. i'm sure they are making phone calls in response to anit

some of the bigger decliners, mylan. 6%.the company cut its forecast for this year and next year . generic pressures around pressures are cutting into mylan's forecast itself. taking a look at office depot, look at those shares down 70%. they missed the top and bottom line estimates. fossil, down 23% after the company absolutely slashed it's outlook. -- its outlook. of course, we have had all these record highs.a lot of chatter whether or not it can last . it is a very interesting chart. a long-term chart that goes back to 2000. we are looking at the percentage of retail investor or the mom-and-pop investor, their allocation to cash. back in 2000, it was pretty low, around 12% to 13%, right before the tech bubble crashed. in 2009, after the financial market crisis, it is high at 45%. the point to be made is it is closer to where it was in 2000 at about 15%. a little less than 15%. as thethese levels have occurred in intermediate-term tops. so let's see what that brings. perhaps yesterday's in today's reversal is a bearis