thanks for having me making a huge bet on nestle.nvested $3.5 billion for shares and options in the largest food business in the world. dan loeb's firm announced sunday nice, it is rare to find a business of nestle's quality with so many avenues of improvement. the letter included such avenues, the activist investor pushing nestle to improve margins. he would likeliness lee to double leverage to do more buy backs. additionally, wants nestle to reshape portfolio and a few weeks ago, they said they would explore strategic options for the u.s. business which includes brands like butter finger, nerds, and their point encouraged by the move, urged them to sell other brands making acquisitions as well lastly, nestle should sell 25% stake in l'oreal, worth more than $25 billion some may be scratching their heads, given the recent run up in share price third point says it is optimism around the new ceo, mark snyder. if nestle takes its recommendations, could command a premium not just on the market but to broader staples sector as well. >> i

loeb targets nestlÉ.

loeb targets nestlÉ.mbers from germany higher than atected, business confidence 115.1, estimated 114.5. global stocks advancing. nestlÉ is the one we are watching. it did spark a rally in european dan loeb looking at the company. the other one i'm looking out for is intesa. let's get straight to bloomberg first word news. the u.k. prime minister due to meet the leader of dup. also, theresa will publish details how she intends to protect european union nationals living in britain. david davis has said that in said britain will fight any demands. are secretary of tate says qat will find it difficult to meet demands from of the rex tillerson said they could be a basis for talks. the list of demands includes shutting al jazeera, cutting back ties with iran, and ending turkey's military presence. pakistan, more than 150 killed after a tanker exploded. officials said dozens more are in critical condition. villagers had gathered to collect leaking fuel. the final round of election showed a resurgence in for form

nestle hasn't done that yet. do you think it makes sense for nestle to do that, even if those targets are unobtainable and a long way out >> whether they make sense or not, the way of nestle is typically without investing in expre expresso agusto, we would see this, and whether they set targets per se in a three year or four-year period. >> some people argue nestle is too big. too much of a tanker i covered this company for ten years. during the credit crisis, the financial crisis, the eurozone debt crisis it was good because it was also steady now i see we're seeing some cracks starting to appear. do you think this is a firm that fundamentally can change do you think it's actually too immobile do you think it's too big? >> it is big i would agree. i think they started now to think about that that's why they started to review some businesses do not forget nestle is not spectacular in announcing some news that they've been divesting many businesses in the past years, close to 30 when you look at last year and now

a $3.5 billion state in nestle. force nestle to sell its stake in l'oreal?ou'll have to ask the question will it be worth it. julie hyman is here. julie: we've got some strengthening in the u.s. market through the even games. .4%. the longest winning streak in a month. big cap tech is firmly back in the driver seat. movers contributing the most games. we've got apple rising this morning. microsoft only up quarter percent. facebook is trading at a record. of pickup. sort it's pretty much over. take a look at the bloomberg. we are looking at the s&p 500 value index to the s&p growth index. year have seen all of this value has been losing ground versus growth. likewas when it looks there was going to be a rotation out of technology. it was very short-lived. it is even more when you look at the five-year chart. trend has been value losing steam against growth. i have to point out one stock theide of this topic moving s&p 500 in a big way. reuters reporting the company knowingly supplied flammable panels to be used at grenville tower in london. grenfell tower in

nestle takes a hit.d a $21 billion share buyback days after -- is this enough to keep the investor at bay? or will you want more? good morning. you are watching "bloomberg markets: european open." i am guy johnson. matt miller will be back i think tomorrow. in on the markets to show you what is happening at the moment. we have a fairly negative story around europe. remedy -- energy stocks. tech stocks lower as well. following what we saw stateside yesterday. the dax has broken a 50 day moving average. on the downside. something of note. we are down, not that down. down a little bit. .7%. the ftse performing a little bit because of what is happening with the value of sterling this morning. that is fading. that story being backed into the ftse 100. let us that our attention back to the political story. emmanuel macron will take a major step to freeing up france's market. his cabinet will approve a broad outline of changes to the labor for and will also ask parliamentary approval to negotiate deals over the

moving forward >> leslie, thank you so much you own nestle >> i do own nestle i've been to nestle to see them. i think it's a great company it is one of the best companies out there. and i -- management has new ceo, as we've talked about. i think, you know, you let management they've laid out this plan and they might disagree with third point, but you've got to let management do what they've got to do. >> this shows that maybe they agree with third point more than people would initially have thought. >> and there's a lot of work to do -- and management agrees. they said it last year when we met them they said they've got a lot of work to do and i think you can see margin expansion and they have the best global brands in the world. >> as a shareholder, were you happy to see loeb reveal that position >> as a shareholder, i prefer management to do what they want to do, and if loeb can help them, great. >> was that a yes or a no? >> i'm not -- it was like, i like them, but -- >> politics. >> let's just say -- biggest ever -- it's his first ever activist campaign in europe. he's one of th

nestlÉ a recent chart of .has been under pressure, as have been many food companies, particularly companies that show candy or sugar products. says that despite having arguably the best position portfolio in the package goods industry, nestlÉ shares have significantly underperformed u.s. and european consumer staples. tord point says it is rare find a business of nestlÉ's quality with so many avenues for improvement. it appears that what third point is hoping to do is pursue change with a greater sense of urgency. has a reputation as an activist investor getting involved in pushing for change, changing up the board, changing up the action. l'oreal.ns 32% of for them to get out of that and pursue more accretive additions to the portfolio. going to be busy for nestlÉ on monday when it opens on wall street and europe. report, andeconomic round two of the bank stress tests. >> round two is more important than round one. these were put in place after the financial crisis. round is more stringent and will show invest

changes at the ceo in nestle.thought on the buyback and what they could buy here? the landscape is changing so much. how much flex ability did they need and firepower in terms of cash? tom: the business is being transformed both internally and externally. the external reaction to the e-commerce, the introduction of -- into the formerly tied up routes to market that once results around the world, especially in the emerging market, are falling away as alibaba can deliver a coca-cola to the most remote village now. before, it was a question of who is in that network of very traditional retail? is being transformed externally and nestle is, trying to figure out where the highest returns are going forward. we have the prospects under a new ceo of being much more demanding of the businesses near-term performance this ar terms -- business' ne performance. i think that the share buyback at $20 billion is intimately -- intimately affordable -- imminently affordable. especially for a company as strong as nestle. what mark s

a $3.5 billion state in nestle. force nestle to sell its stake in l'or

activist targets nestle.rging the world's biggest food company to sell its stake in l'oreal. ♪ manus: welcome to "bloomberg daybreak: europe." i am manus cranny. anna edwards is out this week. this is the deal. there is value in water. that is what we have got here. this is the forward for nestle. it is trading at a premium. to its peers. on average, is about 4% over. this is a value creation. what does he want? he wants l'oreal. mark schneider, activist shareholder could be his worst nightmare or create value. sell a stake in l'oreal, taking $27 billion. any $7 billion. this is rare to find a businesslike nestle with so many avenues for improvement. set a target, the break. 80% to 20% in terms of your margins by 2020. what will nestle deliver? let's see how the stock performs on the open. you go away for a begin to come back and nothing can stop the juggernaut of foolishness -- bullishness. the msci pacing higher. you have oil rebounding. you see technology playing into this market. since on is up 1.2%. the

let's talk about nestle. 1.4% higher on the market. back of that news yesterday evening on the $21 billion share buyback indicated. also check out euro sterling and you are looking at the highest doubles, 45. at 2.5%.ed dividends we will talk about that with our guest very shortly. let's talk about the u.s. stock market created to a battering yesterday. fed chair janet yellen acknowledged that valuations at other asset markets have risen noticeably in recent weeks. she's woke at an event in london on the same day that similar comments were made also by her colleagues, the vice chairman stanley's is your -- fisher. richluations are somewhat if you use traditional metrics like price earnings ratios. i would not try to comment on appropriate valuations and those ratios, what to depend on long-term interest rates and this uncertainty about that. metrics, some asset valuations look high. there is no certainty about that. janet yellen there, the head of the federal reserve. saldanha. now is an irrational exuberance warning from the fed. what

elsewhere the food stocks are all up taking a 1% stake in nestle. they're all on the upside. the upside as well here. here in the u.s. it looks like every day this year semi-conductors are leading. that's the first one there consumer discretionary have been strong and energy stocks are lagging and this is every day and we're ending the first half of the year later this week and it looks like that so if you take a look here an amazing run up about 20% overall with semi-conductors leading and health care has been strong and consumer discretionary and energy down 14%. tech had a great rally last week up about 3% on a number of different moves here so a lot of the tech exchange traded funds had strong volume in the month of june. internet, software, you can buy all of these in different sectors in the tech sector through exchange traded funds now. the big market leader have been flat throughout the month because they had one or two down days in the early part of june but overall tech is a clear market leader. bio tech had a huge rally last week up almost 10% in just five days. so

what are they calling on nestle to do? >> summarize what they want done, they want three key things one to improve the actual operation. looking to boost or identify a formal profit target around 18 to 20%, remember currently around 15% calling on nestle to reorganize its portfolio more aggressively, optimize assets. divesting 23% stake in l'oreal thirdly, financial engineering looking to optimize what they clearly see as inefficient balance sheet. s three aspects. we see corporate which often move slowly compared to aggression of a hedge fund move on the top of their game such as a download while if you look at and lists, they think it is moving the right direction with regards to their portfolio. they want things moving more quickly and more aggressively. >> we have seen historically active investors haven't done well with these. why does down low think they're different? >> they have a unique track record they don't always get exactly what they want, but they generally get some kind of change they have come out with a m

the part of the government tried to do both at nestle maybe. it might be making things worse. by saying this is not work this is lose them goes hopelessly disastrously wrong guys are financial survival. when customers go by you're just playing. well reduce and lower. that's under. but what's good for markets is not good for the global economy. you'll. have a lot of good look at. our own soner closing time losing. more so all good goals are going to be trying to. yahoo. or be very new. girl is the dog or really we're the one school and the people you're living your character does lego book. italian banks and sleepless european stock straight up on monday for nato bank and bank. are now rescued by the italian government the european central bank deemed the banks failing or about to fail sending them into insolvency procedures and this comes with a possible price tag for italian taxpayers of nineteen billion dollars italy's benchmark index footsie meb rallied one point five percent to two i'm sorry twenty one thousand one hundred fifty three ninety six and the socks europe six hu

nestlÉ targeted by the activist dan loeb.n has the latest in new york. >> monday in wall street is usually all about deals. this is a deal maker, a highaker, dan loeb profile activist from third point. very interested in nestlÉ. the company has confirmed a $3.5 billion stake. we can look at a chart on how nestlÉ has done. there has been a lot of pressure on food companies to rein in , a new ceo looking to sell off some candy units. in the u.s., there has been a large step back from consumption of sugar-based candies. interested in?kingwhat is loeb they own 40 million shares and some options in this was company. tends to that the fund encourage management bursar change with a greater sense of urgency. it appears they would like nestlÉ to sell off its stake in % in the makeup company and review his portfolio. third point, which has traditionally been interested in u.s. and japanese companies, is starting to take a closer look at europe. they said in their investor letter that as economic conditions have improved in europe and f

company they're erjing nestle to improve margins, shed noncore businesses earlier nestle considered sale of the confectionary division. argues nestle should sell 23% stake in the cosmetics maker l'oreal. shares at an all-time high today as well. >>> in auto news, the company at the center of the biggest safety recall in history filed for bankruptcy takata saying it would be bought for $1.6 billion by u.s. based key safety systems they face tens of billions of dollars in costs and liabilities from a decade of recalls and lawsuits stemming from the faulty air bags. those defects linked to more than a dozen deaths globally michigan based key safety systems agreed to take over their viable operations while the remaining operations will be reorganized to continue to make millions of replacement air bag filters. the two companies are expected to complete the sale in coming weeks. takata ceo will resign when timing of restructuring is set >>> in europe, italian banks trading higher on news the italian government agreed to wind down two troubled regional lenders. the deal could cost 17 bill

italian banks and nestle place european stock straight up on monday when they tell bank and bank. are now rescued by the italian government the european central bank deemed the banks failing or about to fail sending them into its insolvency procedures and this comes with a possible price tag for italian taxpayers of nineteen billion dollars italy's benchmark index puts the med rally one point five percent to two i'm sorry twenty one thousand one hundred fifty three ninety six and the sox europe six hundred index climb point four percent to end at three hundred eighty nine zero five the second factor in the european stock nestle billionaire activist investor daniel. third point hedge fund snapped up a one point three percent stake worth three point five billion dollars loeb indicates he wants to cut out the company's stake in l'oreal offering more share buybacks and getting rid of non growth businesses nestle shares jumped four point three percent marking an all time closing high. and in an unusually upbeat annual report the bank for central banks is raising the alarm the bank of i

. >>> nestle loses its sweet tooth as it looks to sell $900 million u.s. confectionary business in a potentially significant effort to focus on its health strategy, sending the shares higher. >>> uk chancellor philip hammond is arriving in luxembourg. let's get out to willem. >> that's our main dominating theme today, it will remain so over the weekend as bodies are recovered, we start to get a sense of the scale of the tragedy. my presence here today is a sign of other continued engagement with the european union while we're members of the union, it's a sign of our commitment to being close partners with the european union after we left and i can confirm that as we enter negotiations next week, we will do so in a spirit of sincere cooperation, taking a pragmatic approach trying to find a solution that works both for the uk and for the european union. >> can you confirm a couple other things or give clarity, the negotiations are three days away many things are unclear from the uk side. should we start with single market membership? do you think the uk shou

>>> a hedge fund has taken a $3.5 billion stake in nestle.hird point is now the fourth largest shareholder in the world's biggest food company. the hedge fund pushing nestle to increase returns as a demand for its products weakens. the stake is the largest ever taken by third point. shares of nestle trade on the swiss exchange. >>> unilever is reportedly threatening to pull ad spending from google and facebook. the "sunday times "can reports unilever is demanding better information on the performance of online advertisements. unilever's one of the world's largest advertisers with brands such as dove and helman's mayonnaise. >>> facebook going hollywood, the social need ya company doesn't want to just be the pls go to connect with friends, it also reportedly wants to be the place people go to watch videos, longer ones. julia boorstin takes a look at what could be facesbook's next venture. >> reporter: netflix and hulu, watch out. facebook executives have been making rounds in hollywood meeting with the studios and talent agencies about creatin

downside than any investment ever and at worst, nestle will execute some of the things it wants the company to do, and with the best-case scenario, it will do much more, which could lead to significant upside in earnings it's been reported that mr. loeb wet with mark schneider a couple of weeks ago in switzerland. sources tell me nothing in that meeting let loeb to immediately believe that mr. schneider is averse to doing many of the core suggestions laid out in a letter it is notable that this is also mr. loeb's first activist campaign in europe i'm told from sources that he currently views valuations as more attractive there than in the united states, which he said recently in investor letters and continues to believe, i'm told this is an interesting story, leslie you were following it yesterday, along with all of us i've heard people, at least from their point of view, it's one point, 1.25% stake what can he really do? history suggests a lot >> you can, especially if you're a evacuate and outspoken activist with a lot of credibility, as loeb has i did take a look at some of their

company's stake in l'oreal offering more share buybacks and getting rid of non growth businesses nestle shares jumped four point three percent marking an all time closing high. and in an unusually upbeat annual report the bank for central banks is raising the alarm the bank of international settlements says the danger of complacency in the face of recovered trade and steady growth could lead to risky lending threatening the stability of a global financial system of the global financial system whether world leaders take heed or at least pay lip service will be evident as we head into the g twenty summit in hamburg germany which is just two weeks away it's important to note here that after president donald trump withdrew the u.s. from the paris agreement weeks ago leaders anticipate his resistance to working and closer cooperation with foreign nations in tackling restless spending issues at the same time it's understood that german chancellor angela merkel is eager to sign up the united states to the g. twenty its financial stability board. and european union and japan are said to be conc

percent to end at three hundred eighty nine five the second factor in the european stock jumped nestle billionaire activist investor daniel loves third point hedge fund snapped up a one point three percent stake worth three point five billion dollars loeb indicates he wants to cut out the company's stake in l'oreal offering more share buybacks and getting rid of non growth businesses nestle shares jumped four point three percent marking an all time closing high. and in an unusually upbeat annual report the bank for central banks is raising the alarm the bank of international settlements says the danger of complacency in the face of recovered trade and steady growth could lead to risky lending threatening the stability of a global financial system of the global financial system whether world leaders take heed or at least pay it lip service will be evident as we head into the g twenty summit in hamburg germany which is just two weeks away it's important to note here that after president donald trump withdrew the u.s. from the paris agreement weeks ago leaders anticipate his resistance to

you see the latest chart with nestle.an loeb, a high-profile hedge fund or in the u.s., generating trading and speculation on monday. betty: you will see the impact monday morning. we have also the impact of a fresh round of economic words. -- reports. su: let's get to that, because the statement phase is more than the first. -- second phase is more than the first. capital the minimum requirements. this was in place after the financial crisis to make sure the banks had enough capital reserves to endure shock. this had more strategic requirements to see if the banks have enough money to fund buybacks and dividends. in terms of other things, looking at major reports of economic data with durable goods orders, economists. they do say the income will have a continuing trend which is positive to the economy. we have another round of monsanto and nike earnings, and many say they are selling tech shares to restore decade-long trend. it will be a big oak is on growth stocks versus tech stocks, cyclical rotation continuing, or whe

the comment -- nestle, its first ,oncession to activate investor a $21 billion share buyback plan tooost the share price, shares up 1% two days after he announced he stake in nestle, they announced the repurchase plan. to investor is asking them increase leverage two times to produce enormous capacity or share buybacks, this will boost its leverage to 1.5 times. what is a looking like? julie: a check on oil, even though both the person you spoke to, one of our chief energy correspondent, he says there was not much for bulls or bears in the report but the market does not see it as they bid up oil, barrel even$44.79 a know a drawdown in gasoline and distal inventories but gasoline demand fell last week in oil imports in the u.s. rose about 8 million barrels per day, not giving much sign that the opec production cuts have been making progress. energy trading continues to move higher. as for stocks, they move higher. shares bounced off a low of the day. the nasdaq leading and before it afterghting, went as low a slight drop but bouncing 9/10 of 1% and the dow and s&p higher with financia

activist down there shake up nestle. market likes it. lot of trouble with competition as well. new ceo is coming on board. the stock is open only .79. sea world has been subpoenaed, this is part of a federal probe. the justice department, the fcc, they are looking into statements from executives that claim the black fish documentary brought down the company -- >> they allege prior to earnings release that the black fish documentary about the orka whales would not hit earnings. stuart: the stock is taking another hit. they are under attack, continues attack. amazon finding a patent for drone delivery tower. looks like a beehive for drones. trucks drop packages off at lower levels and drones peck -- pick them up and that's, ladies and gentlemen, the amazon story of the day for you. there's always one. martin shkreli arriving in court in brooklyn today. he's on trial now. much more ahead, we are keeping an eye on the supreme court. justice anthony kennedy, speculation of whether he's going to announce retirement. we are on that one, of cour

nestle into your chair at home and let all of this wash over you.r brain and mind and just say good golly that is where i need to go. >> that's where my wife and i plan on living, retiring. >> where is that? >> new zealand. >> there you go. there are hobbits there and i've flown over that. it does look like that. >> it is definitely new zealand in all of its grandeur and glory and beauty. captured strictly from a drone. from the company mbm productions. they put this whole thing together and called it new zealand from above. >> what more do you need to do? that's the thing about new zealand. it's so picture perfect. what you're seeing here is the incredible variety of things to see everything. >>> men are the best worst friends. >> this is cold though. because this brother is trying to be great and put his life on track and here they go. >> see how many tubs it takes to find his hidden key. >> how is that a problem? >> important message for women and men ages 50 to 85. please write down this toll-free number now. right now, in areas like yours, peop

and fairly peaceful between lobe and management at nestle. >> it's part of the appeal of buy backs. and that's always the story that you're not committed to it and you can take it as it goes and i think when you were initially talking about this story did seem as this third point saw which way the wind was blowing on nestle and what might work and therefore not necessarily out of tune with this idea of margin improvement and buy backs. >> analysts were very encouraged by this move it shows willingness by management that they didn't anticipate to take more aggressive steps >> what will it be you talk often about we both do about consolidation. >> delivery start up they took a small stake this is the world's biggest food company they could be -- >> by the way could borrow at virtually zero anything they do would be creative because of the borrowing costs being so low and he's focused on loreal saying it doesn't make sense to hold this significant stake if they were to monetize that in some fashion it would give them a good deal of capital to deploy elsewhere it's going to be interesti

nestle shares fell to its lowest in at least a decade.of london is illuminating 10% of its u.k. staff to cut costs and streamline operations. the specialist insurance market has struggled with the low interest rate environment and pricing pressures. planlanned -- lloyds introduces a bond severance program. that is your latest bloomberg business flash. anna: still to come on the program, the trial of martin shkreli is underway. here is a former pharma executive, famous for hiking the price of a drug by more than 5000%. he will tell you how his bragging to the fbi may seal his fate to the prosecution in a securities fraud case. this is bloomberg. ♪ anna: welcome back, everybody. this is "bloomberg markets." i'm anna edwards. vonnie: i am vonnie quinn. martin shkreli is on trial today for securities fraud. his biggest regret that might just be a 2015 meeting with the fbi, which he attended without his lawyer. he boasted to federal agents that he made a fortune investing in lifesaving medicine. now his own words are part of the case against h

dan loeb went after nestle 48 hours ago.e they're in a bit of a slowdown in that which also was maybe taken a little bit of pressure off companies for themselves to do deals >> you know you've heard me say before that in the u.s. i think activism has been played out there's so many assets chasing so few opportunities and in the u.s. we don't have a lot of conglomerates anymore and the play of doing buybacks is kind of played out. so there aren't a lot of opportunities in the u.s people have run out of ideas classic example being green light coming up with this idea for two classes of common which really made no sense >> at gm ams >> so then you talk about in europe, european companies are more like u.s. companies five to ten years ago so there's a lot more opportunity it's been there before i advised sony when dan loeb went after it. >> what would you be telling nestle right now >> i think, in nestle he's basically come with a very soft touch, supporting management, which is very large company. i think nestle may be somethin

lobe wants nestle to boost profits and sell the 23% steak in l'oreal.nt in nestle, represents 1.25% of the company. >>> food delivery service, grubhub may be the next target for amazon. a morgan stanley analyst says amazon's restaurant business is set to grow 54% over next five years, boosted by the recent offer to buy whole foods. amazon's growth will impact grub hub future possibilities, leaving grubhub a possible acquisition target for amazon. wait and see. >>> president trump growing increasingly frustrated with the russian investigation and questioning why the obama white house did nothing about russia meddling in the election when they first heard about it? >> well i just her today for the first time that obama knew about russia a long time before the election and he did nothing about it, but nobody wants to talk about that. in other words, if he had the information, why didn't he do something about it? >> buck sexton, erin elmore are back with me. erin, why didn't he? >> that is a question right now. one question i have, why president trump not o

. >>> let's turn to business where nestle is looking to sell its u.s. candy business.s us live from london. could this be the end of the butterfinger? >> well, yes, indeed. you're absolutely right to say the u.s. confectionary business does include brands such as butterfinger and baby ruth. it has said it will not sell its toll house brand no matter what. the sale is just one option being explored as part of an overall strategic review. we're not quite sure what the outcome will be. this is a business with $900 million a year worth of sales. the ceo did say earlier they're looking at mergers and acquisitions if the right opportunity came along and it made strategic sense. >>> let's look at chemicals. planned merger between dupont and dow chemical getting through the u.s. anti-trust courts on thursday. the court said they can go ahead provided they sell certain assets, including some crop protection products. this was a deal announced way back in december 2015, billed as an all-star merger and valued around $130 billion. immediately after the ruling came out, it was dee

he's going after nestle. investor has a hedge fund called third point. he bought a $3.5 billion stake in nestle. he may force it to spin off brands. who knows. he could pressure nestle to dump its 23% stake in makeup giant l'orÉal. we're watching that coming up. unanimously to partially for the most part all of it, president trump's refugee pause to keep the states. we've got dr. zuhdi jasser saying all along do it. he joins us next [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. ♪ art. it can be sculpted, bringing to life beautiful detail. or painted in luxurious strokes. and in rare cases... both. ♪ ♪ whoa that's amazing... hey, i'm the internet! i know a bunch of people who would love that. the internet l

nestle in particular. 3 1/2 billion dollar stake. that is in order to boost demand and boost those returns. don't forget nestle is the most valuable company in europe. necessarily finishes higher on the day, oil helped things along bouncing off the lows. >> dan loeb has a sweet tooth as do you and i nicole. thank you. david: health care is number one on capitol hill now. we're he waiting for the congressional budget office for review of health care. modest revision, hoping to unify their party, behind the obamacare replacement plan. adam shapiro is live in d.c. with very latest. some votes hinge on cbo report, no? >> absolutely, david. one thing we need to keep in mind is that the original cbo score on the house side, they found that 23 million people were going to lose insurance. we want to see if that figure changes in this cbo score. we want to find out, not only that, but whether it is deficit neutral. if it adds any money to the u.s. annual deficit. it will not be able to get you through the senate. here is what i had, interview

dagen: kevin, what do you think of dan lobe taking nestle?orks with management and that's why you are seeing nestle pop up this morning. one of the more interesting things coming across is the pandora news. that's been a big activist name. siriusxm and this is part of the course. pandora is ripping on the news. a lot of hedge funds. a name to watch over the next year because it's really undervalued and activists the turn it around. >> they've been doing a lot of restructuring over the years, it'll be interesting to see what direction he goes in. dagen: coming up new airport security checks are a real page-turner. what you need to know before you fly next at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. so new touch screens... and biometrics. in 574 branches. all done by... yesterday. ♪ ♪ banks aren't just undergoing a face lift. they're un

called on nestlÉ to sell its 23% stake in l'oreal and take on more debt.: headlines at the moment, and the yuan fix taking place, strengthening the fixing by one third of 1%, the most they have done since june the first. 6.8053.rence rate is ,hen it rains, it pours toshiba's president apologizing to shareholders after the company admitted it had not reached an agreement on selling its memory chip unit. a oasis guest runs management, which has had some success pushing for better governance at japanese companies. he is with me now. on top ofe story this, these allegations of price fixing in the u.s. really, what is going on here? >> this is really not helpful. toshiba had opportunities to fix the problems, but this is really disappointing to shareholders. rishaad: it looks like we would get this deal done with this partnership. be anyd not seem to rush, but toshiba wanted to get this done quickly, so this is not a done deal yet? >> toshiba has to get this done this year. the question is will they take the highest price are what is most appropriate for them a

which was quite good there could be consolidation in the industry that might boost things further nestleannounced it's putting up the u.s. confectionary business for sale is it finally time for this company stock to take off? let's check in with the chairman and ceo of the company, how her company is doing welcome to "mad money. great to see you you have put it together over the last five years. you've cut costs remarkably. top line growth. are people going to start recognizing the breakout of the pack which does not have that kind of growth >> i hope so i think we've delivered about 500 basis points over the last couple of years, double-digit eps growth, and dividends and buybacks we've got a really strong story. the challenge has been the top line growth, has been a little more muted as you said, it's still distinguished -- we've distinguished ourselves relative to the beer companies. >> emerging growth markets are fabulous for you can they grow faster than they are now? >> absolutely. when we formed the company in 2012 and split off from the north american grocery business, that was t

my takeaway on this is twofold number one, it's very conservative nestle is the world's biggest foodhave just bought blew apron outright, the leader in what is becoming a huge market, $10 billion prepared food or food delivery kind of service. so conservative and small but number two, nestle is also the leader in frozen foods frozen foods and frozen meals are not very hot lately. this could be the future of frozen foods, an acknowledgement by nestle, maybe an early preliminary one. maybe we'll see more from them coming but could be that instead of frozen foods it's going to be these fresh meal delivery services comes at a time when that space is very, very crowded. >> tough for business on the ground versus delivering frozen stuff to supermarket. >> that's why they need to invest in the growers already. >> oil is below 43 now >>> let's get to jackie deangelis at the commodity desk. jackie >> under 43, expiring at the close today. most volumes in august 43.04 trading on a percentage basis roughly down the same amount increased production in libya, iraq, nigeria, concerning tra r trade

nestle putting its candy business up for sale.pany is making some changes as customers worldwide and demanding healthier snacks. nestle's candy business includes candy favorites like butter fingers, baby ruths, sweet tarts and raisin nets. all of my favorites. >> yeah. >> last year's sales were about $900 million. >>> nike wants to up its game but will be cutting jobs in the process. this according to reports the sneaker maker says that it plans to focus on the hottest selling sneakers slashing the number every styles it offers and sell more shoes direct toll customers online. all part of restructuring in which it will also cut about 1400 jobs. >>> for the first time ever, netflix has leap frogged cable tv. according to new study netflix has more than 50 million subscribers in all. last quarter in the us that's 2 million more than cable. netflix has been gaining ground as it adds to its original programming lineup. >>> all right. this year analysts say people will be spending record amounts of money on presents for dee old dad. >>

flower piano begins july 13th. 12 pianos will be nestled among nature for 12 days. everybody is invited to play and listen. the event will feature performances from professional and student pianists. the pianos were a hit when they debuted for the 75th anniversary. >> people loved it. >>> okay. blood pressure is slowly returning to normal tonight. that was a nail-biter. of some of us. i have to say. including lebron james, who summed it up best. he said, they have so much fire power. and the warriors needed all of it tonight. one win away from another title. kevin durant pro >>> abc 7 sports. >> good evening. after going a record-setting 73-9 last year and losing in the championship to cleveland, the warriors find themselves one win away from finishing off those cavs and taking back the nba titl an epic game three in cleveland. the warriors won the first two finals game easily. this would be a struggle. steph curry, 26 points, 13 points, and 6 assists. the high arcing splash there. the cavs, run late in the third. lebron james, throwing it down. he had 39. and kyrie

i mean, the fact that within a few days of dan loeb putting his letter out, nestle has decided to buytock and probably do a lot of other stuff. it seems to me there's more upside across the pond at the moment than there is here at home. >> we'll have more of the mega buyback. stay right there the republican leaders are headed to the white house after the senate delayed a vote on the health care bill eamon javers is there with much more eamon? >> we're expecting pictures of the republican senators here after the collapse of the effort this week to get that health care bill passed up in the senate we're told that reporters will be going into the meeting momentarily and pictures for you as soon as we can get them and meanwhile the white house today in the norm of sarah huckabee sanders offering a fairly muted response to the decision by the senate majority leader, mitch mcconnell, to press pause on this bill and simply abandon the effort to get it done before the july 4th recess. here's what she said a little while ago in the briefing room >> we're continuing to be optimistic the preside

flower piano begins july 13th. 12 pianos will be nestled among nature for 12 days.rybody is invited to play and listen. the event will feature performances from professional and student pianists. the pianos were a hit when they debuted for the 75th anniversary. >> people loved it. >>> okay. blood pressure is slowly returning to normal tonight. that was a nail-biter. of some of us. i have to say. including lebron james, who summed it up best. he said, they have so much fire power. and the warriors needed all of it tonight. one win away from another title. kevin durant ♪ ♪ award winning interface. award winning design. award winning engine. the volvo xc90. the most awarded luxury suv of the century. visit your volvo dealer to take advantage of our midsommar sales event offer. >>> abc 7 sports. >> good evening. after going a record-setting 73-9 last year and losing in the championship to cleveland, the warriors find themselves one win away from finishing off those cavs and taking back the nba title. an epic game three in cleveland. the warriors won the first two finals

three of them nestlings but the injured birds are being nursed back to health. >> that's good at least. >>> let's turn our attention back to the brutal heat that persists. >> how much longer? >> we have to hang on to the sunscreen, the water and really hang on through the end of the workweek before this heat wave will actually break for our inland communities. take a look at the temperatures tomorrow. tomorrow morning starting you out in antioch at 73 degrees, and really the temperatures just rise rapidly getting you up to 102 degrees tomorrow after noob. that's just two degrees below where you were today and the temperatures are going to hold on in the 90s and eventually the 80s for evening hours. so not much relief coming your way. triple digits around for a while, but there was relief. as you look from our tower camera around the coast and bay today as the fog rolled in and a beautiful sunset tonight. that fog is with us and tomorrow it will continue its cooling influence around the same places that we saw the relief today. so inland areas, you're still going to cook. as you take a

walk out the door, maybe nestled in bed still. either way, thanks for joining us. 4:30.'m laura garcia-cannon. >> i'm scott mcgrew in for sam brock. let's get your monday starting right with a forecast from kari. >> good morning. it's been a cool week. yesterday, we had showers. even storms moving through the north bay. that has suns moved to the sierra. it's snowing. chain controls up, and look how heavily it's snowing in north and south lake tahoe and the approach as you head out for some of the people who may be on their way to the sierra. ad

the part of the government tried to do both at nestle maybe. it might be making things worse. by saying this is not how complex and work this is all comparable islam goes hopelessly designer strictly roam. around so no. balls are going to be thrown over. the dog or the one school and the people here. welcome to financial survival guide. the. yanks this is what happens to pensions in britain. you watch kaiser report. i. believe. this regime's. figure. for america c.n.n. muse is apparently on a. related. substantiated. to use military force against the assad government saying it is. preparing to use chemical weapons in syria. more trouble.

three of them nestlings but the injured birds are being nursed back to health. >> that's good at leastrutal heat that persists. >> how much longer? >> we have to hang on to the sunscreen, the water and really hang on through the end of the workweek before this heat wave will actually break for our inland communities. take a look at the temperatures tomorrow. tomorrow morning starting you out in antioch at 73 degrees, and really the temperatures just rise rapidly getting you up to 102 degrees tomorrow after noob. that's just two degrees below where you were today and the temperatures are going to hold on in the 90s and eventually the 80s for evening hours. so not much relief coming your way. triple digits around for a while, but there was relief. as you look from our tower camera around the coast and bay today as the fog rolled in and a beautiful sunset tonight. that fog is with us and tomorrow it will continue its cooling influence around the same places that we saw the relief today. so inland areas, you're still going to cook. as you take a look at live doppler 7, you will notice fog