simple novartis c.e.o. who we had on the show and i think is dine matt, i should call him dr. vas, wants to turn his business into a pure play prescription company. he's smart if you haven't seen the interview, go to the archives. he's been selling off anything with over the counter exposure buying smaller companies to bulk out the drug pipeline which is extraordinary. alcon may be a high quality enterprise but it doesn't fit with the vision. it has too much exposure to medical devices and over the counter devices. things i love, but vas has different plans. as i pointed out many times, this is why break ups can be so lucrative. alcon didn't fit in with novartis which is a fabulous company in its own right it can devote itself to becoming the best independent eye care company it can be. investing in growth, cutting unnecessary expenses, and making stock a more attractive investment by being laser focus. let's talk about the financials. when alcon gave the first quarter trading update in may, they posted solid numbers. even if the absolute numbers were flat because of -- i can'

. >> reporter: let as start with novartis that stock under pressure.rning the swiss drug giant's recently approved gene therapy. the $2 million for the one-time treatment approved for a childhood data it is said that they manipulated data and that they knew about it months before the approval and didn't notify the fda until the drug was approved. the fda says the drug should stay on the market and is confident in its safety and efficacy, but it will investigate. there are several massive lawsuits moving forward seeing to hold zri accountable for the epidemic of opioids. it is reported they have offered to set with state attorneys general for $10 billion. the state ags countered with $45 billion. they all sank today as even the $10 billion starting point is more than investors expected shares of drug companies also dropped today. mckesson told us this afternoon it has made no settlement offer but as it explores the possibility it would want it to be a global one including not just the states but also local governments, cities and counties melissa, back

leprosy are available free of charge all around the world these are provided by pharmaceutical company novartis through the world health organization and have been hugely successful in the fight against leprosy but recently progress has stagnated in june 2030 experts from around the world met to develop a new strategy to completely halt the transmission of leprosy the last mile in fighting leprosy proves to be the most difficult one what we now do space look at every patient who is diagnosed specially and look up the look of his contacts persons in his family's household the neighbors his colleagues examine them for their procedure and if they do have signs of the brazil to see they should be treated fairly with the multi-group terrapins literacy is also very much associated with stigma when you get a diagnosis of leprosy you may be excluded from society completely in some countries or you may lose your job which very often is the case. our plan is to introduce that in several pilot areas in 6 countries in the world to demonstrate that this is feasible and when we have critical mass of we could

. >>> in the corporate space, novartis could face civil or criminal penalties after the u.s. food and drug administration said the drugmaker manipulated data relating to its gene therapy drugs which treats final muscular atrophy the regulator says it is assessing the situation but also decided that the drug should stay on the market as the earlier manipulation did not impact safety. the swiss pharma company says they are confident in the treatment. i spoke to the ceo in july about the development of drug, the world's most expensive >> our strategy is to be a leading medicines company powered by data science and advanced therapy platforms our goal is to be a leader in gene therapy for the long term we feel confident in the outlook for the drug, we look to providing more context in the time to come it is a one-time therapy that we hope one day can be proven to be a cure for these children if treated early enough it's an extraordinary advance in science, an extraordinary advance for patients and for novartis >> an extraordinary advance for the pharma industry but it comes at a h

gaining.s losing, 176 nestle is one of the biggest gainers, as well as sanofi and novartis.efensive stocks cannot hold the index in positive territory. take a look at some of the losers, you have heavyweight fallers as well. on the downside, bank of santander is down almost 2%. alsoaribas and total waiting on the stoxx 600. let's get first word news in london. >> germany's economy shrank in the second quarter. economyerkel said the is going through a difficult phase. output fell from the previous months and exports slumped at the trade war hit manufacturers. hong kong's airport has restricted access to its terminal building. that is as flights return to normal after another flight of chaos. meanwhile, president trump stoked fears of an intervention. has delayed some of the new china tariffs until september. farm goods and footwear remain on the list, but levies on big-ticket items such as smart phones and toys won't come until the end of the year. china says they are sticking to trade talks. facebook has obtain hundreds of outside contractors to transcribe audio clips. they

nestlÉ, novartis, to tell t --otale, taotale. -- nestlÉ, novartis, totale., you have really big gainsplus side of the ledger. zÜrich insurance up almost 4%. 2.5%.ne up on the downside though, you do have some big heavyweights that have gone ex dividend. diageo,rio tinto, barclays have also gone ex dividend. we also see ex dividend, unilever, which is a big stock, standard chartered, astrid zeneca. on thee going to weigh stoxx 600 a little bit, but in general you do see european markets moving firmly higher. fixinget the yuan slightly stronger. bond yields also recovering a little bit. joining us now is the ceo of latitude investment management. let me first ask you what you think these historic lows in bond yields mean. is the credit market telling us that a recession is around the corner? >> that is certainly one read of it and it is certainly telling you that glove -- growth is slowing, but we still do have positive growth in developed markets. this would indicate that we are close to an inversion, but we are not quite there yet. i don't think it is yet necessarily a guide to a rece

novartis had terrific numbers today. as i mentioned at the top of the show, utilities work we had nick ackins it hasn't stopped his company from delivering superior results. att and verizon, they have strong numbers how about growth stocks that work in this environment think cyber security cyber ark which protects administrator accounts that are basically keys to the digital kingdom. thwart net reported a great quarter after the close or buy my favorite sysco with no chinese exposure some may want to pick up the cloud kings. they had great growth no matter what during the recession. strange enough, you can circle right back to financial technology because the large banks are always considered to be vulnerable in a slow down they swap into thin tech, mastercard and visa have zero credit risk so they're magnets for money. by the way, mastercard has time with apple card. what else? you can buy defense contractors, knee jerk trade. it works, though 3 harris had a nice move up. it's my favorite in the group. i still think it'

the math novartis was joins informed now girls and boys can enjoy the mounting holes even though i find there is still a gap from the time. the tools are quite ill quoted that too will change. they will 08/13/19 08/13/19 [captioning made possible by democry now!] recognizestiracist that the racial groups, all of the racial groups, are equal, so that is not just saying black people but they are equal to white people, that is also saying the black poor are equal to white elites. the reason why black poor have less is becau of both racist and capitalist

. >>> the fda isooking t bring criminal action against novartis, accusing the pharmaceutical companyowingly submitting false data in its application for a more than t2 million geneir by drug. the agency believes the treatment will remain on the market as it continues its evaluation the shares dropped to 88.22. estimatesshack beat thanks to an increase in restaurant sales. the company raised its outlook. separately shake shack is teaking up with grubhub as the on demand food delivery industry ramps up in the country. the stock soared 18% to 86.72. >>> take two posted earnings and revenue beat because of "grand thef auto" and "red dead redemption" fomnchises. theny raised its full year outlook. the stock jumped 8% on the news to 124.56. energizer holdings missed estimates. they said it was due to weather effects on its refrigerant business. the battery company lowered its global net sales shares plummeted more than 14% to 33.49. el dorado resorts missed estimates due to flooding conditions in the midwest and construction disruptions at its blackhawk properties. separately, the company

leprosy are available free of charge all around the world these are provided by pharmaceutical company novartis through the world health organization and have been hugely successful in the fight against leprosy but recently progress has stagnated in june 2030 experts from around the world met to develop a new strategy to completely halt the transmission of leprosy the last mile of fighting leprosy proved to be the most difficult one what we now do space look at every patient who is diagnosed specially and look up the look of his contacts persons in his family's household the neighbors his colleagues examine them for their procedure and if they do have signs of the procedure opus see they should be treated fairly with the multi-group terrapins literacy is also very much associated with stigma when you get a diagnosis of leprosy you may be excluded from society completely in some countries or you may lose your job which very often is the case. our plan is to introduce that in several areas in 6 countries in the world to demonstrate that this is feasible and when we have critical mass of the day w

this is a very important drug for novartis it was just approved in may. you'll probably remember it because hit the $2 million price tag. the fa says the subsidiary knew about these data manipulation issues before the drug was approved but didn't notify the agency until after the drug was approved they did say it still believes the drug should stay on the market it is investigating the situation. it says it will use the full authority to take action if appropriate which means civil or criminal penalties we've rehed out to the company and we'll bring you more when we have it. >> start your engines and get geared up. the fifth season for jay leno begins the long time host of the tonight show and some famous friends take us behind the wheel of some of the most iconic vehicles ever made he takes kevin hart on a death defying ride on one of the most outrageous off-road vehicles >> this is great you can drive it over just about anything it was the bumping and sliding it cradles you like a baby >> oh, my god! >> speaking of babies, how is kevin doing? >> jay, yo

job of positioning the company with very impressive jv partners, whether it is abi, whether it is novartiswhether it is manitoba, whether it is authentic brands the reason we have an underweight position in the fund relative to market cap in the industry is they're not doing anything in canada they're not necessarily growing. in fact, they're a distant, probably fourth or fifth player. i think on the margin side, the path to profitability is still unclear. while these relationships with the company i think are very important and they provide optionality, and i think it is a name because as part of an overall portfolio you should have exposure to, but it is hard to see where people are competing with the things in canada and to the consumer. >> let's get more to the quarter and bring in rob wertheimer. great to have you with us. you have been negative since may and that's the context of the comments here. what did you make of the quarter. looks like they spent a lot to expand facilities. >> yes, they did i didn't think the quarter was all that bad at first glance there's a couple of things

the trial court upheld the two patents, novartis was challenging it it's favorable as referred to thehritis. those are the phil mickelson ads you see. it has a great low beta and great exposure i like. >> steph from jacen in katonsville, maryland, which one to buy, oxy or bp? >> well, one is defensive. one is speculative bp is your speculative, trades nine tiles earnings. you get a flat yield, it's pretty well covered. they've done a lot of good things oxy has a lot of juice they took on occidental and darko. they yield close to 7% i don't know how safe that dividend is. >> ball from new jersey, orbcomm, a new 52 low last week down 37% in the last month. >> so when a stock gets clobbered like this, you got to come out and decide, do you believe in it still? i strongly believe in it when i recommended this, i said, this is not a trading vehicle. this is put it away in the closet in your ira a couple years. >> that still stands, the quarter wasn't as bad as the street thinks. but the reaction is what it is here's the important part. they've responded buying back shares the first time th

winners, astrazeneca and novartis, glaxosmithkline and novo nordisk holding up the index.tocks gaining. on the downside, bhp billiton is the biggest loser, down 1.5%, taking the most points off the stoxx 600 but you have oil producers total and rexall down as well as royal dutch shell dragging the index. let's get the first word news with annabel drillers --annabelle droulers in hong kong. elle: a new effort that dialogue has put hong kong's embattled leader carrie lam is promising to bring an end to two months of protests. the demonstrations began as the opposition to extradition legislation but have morphed into a wider antigovernment movement including calls for her resignation. a we will start immediately dialogue with people from all walks of life. this is something we want to do in a very sincere and humble manner. i and my principal officials are committed to listen to what the people have to tell us and we want to reach out to the community as soon as possible. ready to cut again. that's the message from the reserve bank of australia. it says it will loosen policy

year different story for amgen, which is climbing higher after winning a patent case against rival, novartiser its rheumatoid arthritis treatment elm burremb. >>> hello, kelly hello, everyone. here's what's happening at this hour attorney general william barr reacted to the apparent suicide of alleged sex trafficker, jeffrey epstein. he said so while speaking to a group of police in new orleans this morning >> let me assure you that this case will continue on against anyone who was complicit with epstein. any co-conspirators should not rest easy. the victims deserve justice and they will get it >> barr went on to say that he was appalled and angry that epstein was found dead while in federal custody. >>> newark, new jersey, is handing out bottled water to residents after epa tests found high levels of lead in the water for certain buildings. the agency say they will take action if no steps are taken by the city to fix that issue >>> and take a look at this. yep, those are kangaroos on a lighter note, across the globe, it's winter and a driver took this amazing video of all of those kangaroos

on the losing side of the ledger you have a novartis, royal dutch shell, bp.the pharma and oil companies really weighing on the stoxx 600 index. in general, or altogether, we see it down about 0.5 points right now. china's central bank set the yuan fixing stronger-than-expected, calming the nerves of investors after the u.s. label beijing a currency manipulator. joining us now is frederique carrier, head of investment strategy at rbc wealth management. rightuld you see markets now, considering the activity we have seen over the last week? the u.s.-china talks ending suddenly, then trump putting on more tariffs, then the chinese saying they will not buy as many farm goods, and now the currency issue. frederique: we think the markets will be nervous for a while still. escalation in the trade war, escalation in rhetoric at a time where valuations, particularly in the u.s., are stretched, where positioning is stretched, where the earnings season has been muted. really the best way to quantify it in the u.s. in particular. all of this conspires to make markets a li

also wheat and precious metals >> doc >> novartis. nvs.sual activity i bought it before the show. >> guys, who is not afraid to say anything on this show. what's your final trade? >> be careful. >> smh smash. >> we learned our lesson from that >> quick >> trimble >> thanks for watching "the exchange" starts now. >>> thank you, scott really, really great stuff there with carl icahn. here is what is on deck. transport tremors. a look inside the up in bers an area that could be signaling a recession is coming down the tracks what is wrong with oil stocks? investors can't seem to sell them fast enough but when everybody is selling, is that when you should be buying and lyft making a bold and rather unexpected move when it comes to its own stock we'll explain and look at what it might mean. and all that is ahead. as always, let us begin with today's markets. we're dom chu, solidly in th

it is warned on 2019 profit but you also see the luxury goods, lvmh and kering falling as well as novartisr and hsbc. let's get the first word news with olivia hows in london. . olivia: italian deputy premier salvini will have to wait before consolidating power. senate leaders have failed to agree on the day for a confidence vote in the populist coalition but discussions will continue tonight. if there is a new election, salvini's lead in the polls mean he will likely be the next prime minister. singapore cut its growth forecast almost zero as the trade war dampens the region's mode trade reliant economies. as city state is seen growing north of 1% this year. the trade war has erased the prospect that raise the prospect of recession and job losses. -- vicene president says she wouldn't have run if she didn't feel ready for the top job. she told bloomberg she doesn't want the philippines to take side in the u.s.-china trade war. friendlywill be more with -- to be more friendly with china would mean decreasing our friendship or relations with the united states and i don't believe in that. i

novartis and sap ringing up the rear. suffice it to say, almost everyone is up.e biggest loser, off 12% after offering over $4 billion entering into what could be a bidding war for the car, light, and sensor maker. rolls-royce, not the automotive brand owned by bmw, down more than 2%. and then you see banko bill bow off, as well as kb see group. apbvik down after they run at the beginning of next year. that's a look at some of the movers. let's get bloomberg first word news with olivia hows in london. olivia: thanks. violence intensified as hong kong faced its 10th week of protests. demonstrators help projectiles. police responded by firing tear gas. the clashes followed three days of demonstrations at the airport friday. at least 32 people have been killed and 16 are missing. it swept through the east and coastal profit and's toward shanghai. more than one million people were evacuated. china's state tv puts the damage at $2 billion. jeffrey epstein was found dead. he was accused of molestation and sex trafficking. his suicide prompted outrage. the jail he was b

and let's remember they're also partnered with novartis, a.b.i so they have these strategic partnershipsbig consumer players. >> are supply concerns exacerbated by can trust and the finding that a second facility was not properly licensed by health canada? >> i think in the short run we don't know the answer to that but there's no question this has been a major disruption and the corporate governance around this is something that's giving all investors pause and it's affected all of them even though i think different companies -- and this is why you really need to do your work, folks, because corporate governance risks are a big deal demand in canada, and again, this is not why you're investing in the sector and again, 25 times ebidta for tilray is not a valuation that even makes sense. it's the global footprint. it's what these guys are doing in the u.s i think that's what people are focused on >> coming up, escalating protests in hong kong threatening one big group of stocks we'll tell you how to trade this group. plus tech still the best performing sector this year. but one trader jus

novartis, unilever, as well as rausch, all adding points today. kering angly, gainer.interesting, defensive stock. nd,y one stock is ex-divide so watch that for drops this morning. european markets, opening fairly after the ftse lower being closed for a u.k. bank holiday yesterday. it follows gains in most of asia after he perceived softening in the tone of the u.s.-china trade rhetoric, but that messaging seems to be reevaluated now. joining us is the chief marketing strategist, hsbc -- chief market strategist, hsbc. how do you sum up the g7 experience, and what does it mean? for you as an investor? r? willem: a mixed message. a lot of yo-yoing going on in politics, so you need to look at the data rather than trying to speculate on politics. the data is still continuing to point to a slowdown in manufacturing and investment with a relatively healthy consumer. anna: good morning. i have a chart here tapping into what you just said, about a slowdown in investment. nondefense u.s. capital goods orders. according to one indicator released, suggesting some sort of recessio

i don't like the stock, but i like their portfolio >> we haven't talked -- >> novartis. >> no. i saw that >> there are people telling me, this is just a -- what is basically data inaccuracies. and i personally think this -- i'm not saying much to do about nothing, but i do think that vas narisen is a terrific executive. those who think this will sink his regime is wrong. if it goes down today, buy it. >> novartis, right saying they did not get -- they got inaccurate data. it doesn't affect the actual drug they approved. >> that's why this stock is -- >> high price point for this very rare disease, but -- >> the stock is down $7 from its high but the best quarter of the pharma group i still like it. how could apple not be down more if the world is -- >> i don't know. maybe the president knows because he's talking -- he's been talking about china do we have the tape now or -- all right. i'll tell you a couple of things he had to say. he said somebody had to do this to china, china was like an anchor said the market will go higher again. he believes they manipulated their currency

they argued it would violate its own patent a judge ruled in amgen's favor you can see novartis barely on the news. it will reportedly worth reveal the decision we have reached out to both companies and have not yet heard back to cnbc a comment. >> thank you for that. we have got just 11 minutes left in the trade what do you got for us >> shopify i don't normally feel comfortable recommending a stock up 170% year to date i think it's going to have a long pathway to growth they have about 800,000 customers but you are talking at a market opportunity of probably 70 plus billion and about 10 million penetration now. it's a turnkey solution. they're gaining share. as they continue to scale, not only should revenues continue in the mid 40s base and gross margins, 50s, you'll see margins continue to increase >> if you look at the chart since they went public in 2015 it's a moon shot straight up. >> it is that's the type of thing we're talking about roku a lot this week it's the secular trend and every time a retailer decides they want to go online and have the chance to compete with amazon,

lot of companies in the drug sector that -- that i want to come down more i've been looking for novartisin the food sector, kraft heinz, i come back to this -- here maybe it is top of mind, keurig dr. pepper when a great story they are. >> they're value names, defensive names. >> yes defensive names. for -- we're not an industrial power. we don't really have -- i'm not waiting for the industrials to come down. honeywell is doing well. united technology is doing okay. if boeing could make -- boeing is a weak link in the system it is not like china if china plays with boeing, it would be, like, wow, we love these guys >> that's why the max is important here >> the max is so important to gdp. >> came around at the wrong time. >> yes that was -- that's the achilles heel of the u.s. economy now. >> certainly affecting gdp we're going to get cramer's mad dash and count down to the opening bell, another important session today. the shake-up at yum and u.p.s., high profile executive shuffling over there take another look at the premarket as we'll keep our eye on the ten-year, the 30-year, the sp

leprosy are available free of charge all around the world these are provided by pharmaceutical company novartisthrough the world health organization and have been hugely successful in the fight against leprosy but recently progress has stagnated in june 2030 experts from around the world met to develop a new strategy to completely halt the transmission of leprosy the last mile in fighting leprosy proved to be the most difficult one what we now do space look at every patient who is diagnosed specially and look up the look of his contacts persons in his family his household the neighbors his colleagues examine them for their procedure and if they do have signs of the procedure opa see they should be treated fairly with the multi-group terrapins literacy is also very much associated with stigma when you get a diagnosis of leprosy you may be excluded from society completely in some countries or you may lose your job which very often is the case. our plan is to introduce that in several bodies of areas in 6 countries in the world to demonstrate that this is feasible and when we have critical mass of