. >>> -- and mylan are getting pressure from washington.ere we begin tonight's market fos. u.s. lawmakers want the pharmaceutical companies to hand over documents as part of an ongoing investigation into generic drug price increases. the probe was initially launched in 2014, and in may '44 states filed a lawsuit against bothie comp alleging price fixing. shares dropped more than 10% to just about $6.30 mylan was off more than 8% to $18.04. >>> outer wear maker canada goose saw its sales grow in all ographic regions which helped that company top revenue estimates, but the railer reported an earnings miss and plans to maintain its prior full-year outlook. canada goose shares dropped more than 7% to 39.97. >> disney fell 3% today to 132.85. charter shares dropped more than 1% to 375.18. > and starbucks' main rival in china, lucken coffee, posted the first earnings report since going public. it beat earnings estimate but fell short of earningsargets. it has been discounting prices and found success with several smaller pickupre s shares plunged

. >> pfizer merges its off-brand drug unit with mylan as generic drug stocks come under pressure from in legal headwinds. do you like this deal? >> i certainly like it from a pfizer perspective because it takes a business that is a drag on their earnings and margins, a drag on top line growth and puts it into another entity. i am pleased they are doing it. this is what pharma companies should all be doing. >> the big word is scale, it allows pfizer to put these drugs into a vehicle and combine them with mylan's generic drugs and that business together will have more scale to compete in an environment where there has been brutal pricing pressure particularly on that industry, so it gives them more power to push back on pricing and broader geographic reach. >> the london stock exchange group shares soaring the day on the back of the $27 billion takeover of the multimedia news agency. this feels like plan b. they wanted to go after other exchanges. they are doing this deal. why is this such a great one? >> a mega transformation and their investors may have analysts beat because it is a -

congratulations if you own it already. >> this is a curveball, bear with me, we were just talking mi mylany like merck? pete is in merck anybody else like big pharma >> he likes them because he thinks they're so stable obviously dividend yield and so forth, he writes calls against them i don't think he's in it because he thinks it's off to the races. i think he thinks it's steady. >> all right >> i don't own merck, i own pfizer i think the pharma sector is depressed. i don't own merck but i don't have any issues with the sector. >> exposed in the 2020 elections, it's a debate on dru pricing that everybody can get behind >> good stuff. bitcoin dropping 12% in the week, that trade coming up next. first kelly evans tells us what's coming up on "the exchange". >>> hi, scott, here's what's ahead. ten-year treasury falling in tandem with the german bund, selling off on reports that the country would initiate a stimulus plan in the event of a recession. we'll look at the contagion risks. >>> disney's new record. we'll tell you about that and the $23 million car all in rapid fire >>> and the ceo o

people are looking at me like you know you don't know i'm like a victim because like my clothes cover mylan's and whatever. but it's just feels really like sickening to me every time i like leave my house. so i think someday i hope to maybe feel really positive about what kind of positive outlook but right now not really there. >>the 2 women voice their thanks to doctors who are there for them they also put out there. thanks to the community. they say has really been for there for them. neither these 2 women has health insurance go fund me pages have been set up for both live in san jose dan kerman kron 4 news. >>thank you dan hard to hear meantime police are still investigating at the garlic festival site but today some people were allowed to return at least partially a mainly bender showed up and they were escorted to get their things from a parking lot there still not allowed on the festival grounds the process to slow down business for many vendors. they have had to delay their plans for other california festivals. >>and another big event is expected to draw enormous crowds to the south b

mylan saying it is prepared to make its case in court. teva says it is fully cooperating as shares of the two giants down lower as well along with the rest of the market. take a look at walt disney, charter communications. they have reached a new multi-year carriage agreement which avoids a costly blackout of espn ahead of football season. charter also agreeing to carry the latest espn offering related to college sports. the two companies agreeing to work together as well to fight piracy. take a look at those shares, they are lower as well. again, with the overall tone. back to you. liz: i know that you are watching a lot of the retailers as well and we do have to tell you that it's not just been an ugly day for the retailers. it has been a horrific two weeks for the retailers. rewind this picture. two weeks ago when president trump sent out this tweet that century tailers across the u.s. into an uproar, you can see what happened since then. he said during the talks, the u.s. will start on september 1st putting a small additional tariff o

. ♪ merges its drug unit with mylan in an all stock deal, under pressure from pricing in legal headwinds> i certainly like it from a pfizer perspective, because it takes a business that is essentially a drag on their earnings and margins, and puts it with another entity. i'm very pleased that they are doing this, this is what they should be doing. >> the big word for this deal is scale, it allows pfizer to put these drugs into a vehicle, combined them with the generic drugs business, and that will have more scale to compete in an environment where there has been brutal pricing pressure. it gives them a little more power to push back on pricing, and gives them broader geographic reach. >> the london stock exchange group shares soaring today on the back of the takeover of the multimedia news agency. this feels like a plan b deal. why is it such a great deal? is -- policythis investors have upbeat on these transaction because it's a megamerger and this will really transform a global data provider. ♪ lyft,executive shakeup at john mcneil is leaving the company after joining just last year fr

deep in that sea of red are generic drugmakers mylan and tempo. this is not good. what is going on?ley: senator bernie sanders and representative elijah cummings writing a letter to these companies accusing them of obstruction, saying they refuse to buy the materials on their pricing that were requested. the companies have denied these allegations, but this is renewing of 2014 federal probe in addition to state lawsuits, doj investigation all surrounding price-fixing by these drugmakers saying they get together to keep prices high. this is just another one of these stocks that have been pressure for several years. , their see at gtv performance relative to the broader pharmaceutical sector and this is adding to headwinds. all of this scrutiny to washington. david: also involved in the opioid crisis, which is not good, either. many thanks to kailey leinz. coming up, more on the market selloff we are covering all our long. -- all hour long. from new york, this is bloomberg. ♪ from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. th

people are looking at me like you know you don't know i'm like a victim because like my clothes cover mylan's and whatever. but it's just feels really like sickening to me every time i like leave my house. so i think someday i hope to maybe feel really positive about what kind of positive outlook but right now like it's not really there. >>both women thank all the medical personnel that helped them as well as the community who they say really have been rallying around them and they need it. neither of these women have health insurance, go fund me pages have been set up for both of them. at valley medical center in san jose dan kerman kron 4 news. >>and we have continuing coverage of the garlic festival shooting on air and online during the commercial breaks you to head to our 24 hour streaming service. that's kron on you also download our kron 4 mobile app to get push alerts sent straight to your phone. as new developments come into our newsroom children as because are playing pediatricians >>all expressing now california is limiting full-contact practices for youth football teams to try and

all of them 30000 people have died with a tickle mylan. sims. the beginning of this year mandela and declare partner has as much as rival 2 characters representing opposing camps in gauged in unrelenting negotiations a political and personal june that was poised to put an end to one of the most racist wheezy in the products ready. 7 kilometers west of cape town nelson mandela was a prisoner for 18 years raised in a village in eastern south africa he founded the 1st black law from in the country appalled by the treatment of blacks and people of color he created the armed wing of the african national congress to fight against the apartheid regime and i many people feel that it is useless and for a future for us to continue talking peace and nonviolence against the government was a black is only a savage attacks. under defenseless people. in 1962 mandela was arrested 2 years later he and his fellow accused were sentenced to life imprisonment for sabotage and conspiracy he was 46 years old. during his incarceration and social unrest spread and inten

spin-off its off-patent branded drugs business >> right >> caller: and combine it with generic drug maker mylan >> right >> caller: since obviously this will impact their financial reporting metric, how would you advise us young and old investors investing in pfizer, sir? >> i don't think pfizer has earnings momentum that i like. i prefer to see you in novartis. i think that they are a better place to be right now. pfizer, that deal was not that great frankly, and it also revealed it didn't have a lot of earnings power >>> let's go to john in new jersey, please, john >> caller: hey, mr. cramer, my name is john from asbury park, new jersey >> you know i love asbury park what's up? >> caller: my stock is crato's defense, ticker number ktos. they reported yesterday. they beat on upper and lower numbers. their fuller guidance was great, but yet the stock sold off i'm confused >> you should be confused because this happened time and again to kratos. every time the bears have come in and they trash it, i do not blame short sellers. i'm saying kratos, i recommended the stock -- it went up to 12, then

it faced a sell-off last week after its deal with mylan and disappointing second quarter results. the company also said friday evening a clinical trial with partner glioco medmedics failed, guys health care stocks overall a bit more defensive, and they are also in the red. back over to you >> meg, thank you. casino stocks are also taking a hit. contessa brewer has the latest on that. >> china concerns definitely weighing on those macau-exposed casino stocks. and we're seeing the protests in hong kong dragging down share prices wynn is on pace for its worst day, down more than 6% could be the worst day of the year for that company. melco resorts off almost 5%. that's based in hong kong, but trades here in the united states las vegas sands, it is down now more than 3%, down 20% over the last three months. and lastly, mgm, which relies less heavily on its china revenue, off 2% now. just a little explainer here they think because there's been such disruption in hong kong, it might actually be dissuading visits from hong kong to macau and then, of course, the currency concerns, the tra

mylan up 4% today.harma stocks among five finishing negative and dollar tree worst after a miss on eps today >> okay. thank, thank you very much. >>> next guest says despite recent fears, stocks are mar from a top let's bring in tom mcclellan thank you for joining us. >> thanks for having me on and the beard's a good look on you, wilfred. >> i appreciate it i'm following your lead, tom let's dive in to the charts you prepared for us today. >> all the compliments are from beard wears. >> including your husband. >> what's wrong with that? >> exactly we should move on or else our bosses will be disappointed in us yield curve is a first chart to look at for us. >> yes yield curve all over the news and everybody worried the sky is falling. the sky could be falling some point in the future but everyone needs to just keep their pants on for now and realize the yield curve is a long, early warning of trouble doesn't say that trouble is upon us now and so, it takes several months to even over a year sometimes be

among the few stocks that are actually up for the week i also wanting to look at the wall flowers mylan performers for the week, down 8% over two days. continuing to have problems and concerns about the opioid lawsuits back over to bob at the nyse. >> we have regained a little less than half the losses of yesterday. semi conductor stocks, industrial stocks, consumer discretionary, aerospace and defense stocks strong. the one exception here energy. oil is down 2% we got another two-month low here and all sorts of new lows among some of the big lows, halliburton, apache, occidental. that is a depression in that group for sure how about some of the new lows here, carnival corp, ralph lauren, tapestry the vix down below 20 after hitting close to 25 yesterday. there's the closing bell the dow jones industrial average closing above 26,000 once again the s&p 500 up 36, near the highs for the day >>> if you are just joining us, good afternoon welcome to "the closing bell." >> here with mike santoli. take a look how we finished up the day. stocks climbed back some losses from yesterday if you ad

the fbi is investigating the mass shooting in dayton, ohio, looking into the shooter's interest in mylan. joe biden maintaining a significant lead in the democratic presidential race. 32%, followed by elizabeth warren, bernie sanders, and kamala harris. that is a sizable jump for warren and a slump for harris. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. hurtado.ana this is bloomberg. tom: when the facts change, they change. economists and strategists looking at the some of the parts of this august 2019. with us, john norman, and by television carsten brzeski with us -- telephone carsten brzeski with us. hsbc has gone down to wait 10 bond --d -- 2k 10 year how does europe change? carsten: at will only change if you see fiscal policy acting. i think we will get over rates from the ecb, but this will not be the big game changer. the curve is in negative territory which means the government should enter fiscal stimulus into the economy to get growth to a higher level. tom: your headline is -- domest

respect to repatriation, you're seeing american firms move back all those inversions, jimmy -- >> mylan is moving back because they're getting acquired, aller january is moving back because they're getting acquired but that's not jobs, that's just tax rate stuff that's not anything else they're both being required. they both inverted and now they're both coming back. >> that is correct, but remember you've got home company administrative offices and so forth. you're also going to have factories moving back in from other places around the world, including china. so my generic point, china can wait, that's up to them, but i think they will continue to do great damage to their economy. the american economy is very strong theirs is not. >> you're giving a textbook reason of why the dollar should be strong and the chinese currency should be weak. so why go after them on manipulation their economy is getting hurt a lot more than ours the new threat of tariffs only puts more pressure on things like capital outflows like you're talking about clearly the currency is a very sensitive issue for th

under trump's plan more companies could have incentive to keep headquarters in the u.s., grover, the mylanr merger, we all remember the moment in time during the obama administration when so many companies were making acquisitions for the sole reason to move headquarters to ireland, grover, that's reversing now. >> absolutely, as we pointed out then, the reason companies were either being bought outside of the united states or were moving out of the united states american tax policy was destruct i have to any international company based in the u.s., a company was worth more headquartered in canada than in the u.s., burger king, just because of our stupid tax law. maria: right. >> we fixed that, we ended the worldwide tax system which the world doesn't want to do, that's not where you want to be but where we were and took rates down, all of the incentives to leave the united states disappeared just about overnight and the idea that the companies were not patriotic is really disgusting thing the democrats said was their policies pushing people out of the country. >> do you worry that all of

discovery, kla-tencor, mylan labs, dish network, taking it on the chin big time.e the subject. ashley: please. stuart: please. the u.s. travel association says the u.s. will continue to lose foreign travelers through the year 2022 because of the strong dollar, trade tensions and overseas competition. roger dow is with us, u.s. travel association president and ceo. roger, so there are fewer foreigners. i am by the way an american citizen, despite the voice. fewer foreigners coming to america. can we put numbers on this? >> well, yes, stuart, first of all we're thrilled to have you here in the united states. but what's happening actually is the share of long haul travel is going down. we're up about 2%. the rest of the world is growing much faster. they're up 6 to 8%. five years ago we had a 13, 14% share. we now have 11.7% share. proprojected to go down to 10.9. we're losing share. so that is very costly. stuart: i assume chinese tourists coming here, that number is way down, is that accurate to say that? >> well you look at china, china has been up tenfold in the

we had pfizer announce they were going to take their dutch company mylan and build their plant here inmerica which will create more jobs, more economic growth. stuart: i got it. i do understand the state of the economy. i know you've got to put that out there but look, you are facing a slowdown. we face a slowdown right now in job growth. that was evident in today's jobs report. if these china tariffs are imposed, it will hit consumers. it will hurt our economy. you have to tell me how you are going to address that. i know the economy is doing well. you've got to tell me what you're going to say about the second half. >> the point is that our economy is booming and china's is not. we are in a position of strength. china lost five million jobs, two million jobs, because of president trump's tariffs. they have the slowest economic growth since 1982. they are in a much worse position than we are. they are stealing our i.p., they have trade theft, they are cheaters on the world stage violating every wto rule and agreement there is. if we don't take them on right now, when we are in a posit