. >>> those mixed earnings were reflected in results from pfizer and merck. pfizer said soft sales of some key drugs weighed on revenue which missed estimates. legacy medicine lost market exclusivity, although the company did report better than expected earnings thanks to reduced costs. rival merck saw its profit top expectations. the drug maker raised its full year revenue and earnings forecast and said a key cancer drug is gaining market share. as you might expect, shares of pfizer and merck moved in opposite directions. >>> a weak month for auto sales also weighed on the market today as americans didn't buy cars in april at the pace they had been. general motors saw a nearly 6% drop in monthly sales. fiat-chrysler a bit more than that. ford sales down more than 7%. declines could signal that demand is slowing after seven straight years of sales growth. automakers are also offering more deals so that they don't lose sales in the very hot suv market. increased incentives is a concern for investors. and they sold shares off today of the automakers in trading.

they say pfizer needs to do a deal.iggest risk is deal risk. >> it's like a catch 22. >> there's great opportunities out there in the deal world in terms of they've got to capital. depending on how big of f a deal they want to go. they're goinging to go very, very large, but there are smaller deals that they could do and i think there are opportunities. there's inexpensive areas in bio tech and where ever pfizer might wand to go where they can buy and it's gotten cheaper than it was a year or two years ago. >> joe, a thought? >> i'm thinking pete and i have been in and out of giliad. we'll take $90 billion and go buy giliad. go save them. >> bristol's gotten hammered. you own bristol? >> i don't. i was in there for cramer and two of us got battered and i'm not in there anymore. >> the options market. john and pete seeing unusual trading activity. >> all right, mel cone. it's basically mel co reports and entertainment. joe talked about wynn resorts. they're saying the whales are coming back, the vips to their properties

take a look at shares of pfizer getting hit today.ngs estimates for the company. take a look at the broader market right now. reversing some of the earlier gains that we saw. the s&p and the nasdaq had hit new record highs. we've gone the other way. the dow is down 44 points. "squawk on the street" will be right back. points. "squawk on the street" will be right back. 6 points. "squawk on the street" will be right back. >>> the s&p 500 may be hitting new records but not every stock is rallying. we're looking at the companies hitting new lows and finding out if any of them are worth i don't remember money at trading nation, cnbc.com or "squawk on the street" next. stay with me, mr. parker. when a critical patient is far from the hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders connect with medical teams in near real time... stay with me, mr. parker. ...saving time when it matters most. stay with me, mrs. parker. that's the power of and. >>> as mentioned, the dow's d

at big round of names reports before the bell, including conoco phillips, mastercard, merck and pfizerafter the bell the mother of all earnings reports, apple. on the economic front. the fed kicks off its two-day policy meeting. the big automakers will release april auto sales. >>> indian outsourcing firm infosys is making a big bet on america. the company announcing it will create 10,000 jobs here in the united states of the next two years. those jobs will focus on the cloud, artificial intelligence and big data. four new facility also open as well. with the next one by summer, august of 2017. i'll speak with the indiana governor and the infosys ceo today at 8:00 a.m. eastern on a cnbc exclusive. it will be interesting to see this broader trend, international companies feeling the pressure from president trump and showing they are willing to invest in america's job story. >>> stocks to watch today, barry dillers will buy angie's list and create a publicly traded company called angie home services. up 41%. advanced micro devices matching estimates in the latest quarter but shares dropp

they go to the pfizer corporation, they said they have to be careful.itution protects her privacy, our right to free expression. you can't do this. you get a lot of people on the left like senator paul, a libertarian. the aclu, the nation magazine saying this is government run amok but in fact, government is trying to protect us. ocy they towards the end of the obama administration, how much of this is politically driven and not terrorism driven? >> i would have to say this. we got to be very careful. i wouldn't trust the obama white house, particularly in 2016 but i do tend to trust the national security agency. they got sloppy here. they self-reported this. they identified the weakness in their systems. they are the incidental contact. if that guy abroad emailed somebody inside the united states, that's not the kind of contact were talking about here. they're not really clear in the opinion as to what it is and i don't want to really have them be clear to us about it. because i want them to protect the sources and means by which they collect this info

and also reporting, pharmaceutical giants pfizer and merck.a few of their patents are about to expire while merck has a cancer drug that is considered to be the most significant growth driver for the company. interesting, so a lot to talk about in the united states, samira hussein will be on the case when it comes to apple etc. joining us is kathleen brook, research director for city index. it isa it is a busy time with apple earnings and bp etc. one thing we wa nted earnings and bp etc. one thing we wanted to talk about was greece, coming through in the early hours of the morning that finally a deal on new measures and new reforms meaning they get much—needed funding. new measures and new reforms meaning they get much-needed funding. this has been going on for absolutely yea rs. has been going on for absolutely years. they are trying to extend the pension age. make people older before they receive their pension, trying to sell off state assets, coal mines, power plants and that kind of thing. this still needs to be agreed by the greek governm

>> i think so, yes. >> is there a pfizer warrant -- go >> i can't answer that here. >> did you consider carter page and agent of the campaign? >> same answer, i can't answer that here. >> do you stand by your testimony that there is an active investigation, counterintelligence investigation, regarding trump campaigning individuals on the russian government? you said that in march. >> to see if there is any correlation between the russian effort -- yes. >> nothing is changed, you stand by those statements? but you won't tell me about carter page? >> not here, i won't. >> okay. the chairman mentioned that fusion, are you familiar with fusion? >> i know the name. >> are they part of the russian intelligence apparatus? >> i can't say. >> do agree that if fusion was involved in preparing a dossier against donald trump, that would be interfering in our election by the russians? >> i don't want to say. >> okay, do you agree with me that anthony weiner of 2016 should not have access to classified information? >> yes, that's a fair statement. >> would you agree with me that that's on a legal we

it was a mixed quarter for pfizer. company beat on the bottom line but revenue missed street forecasts. that stock is now down 1.1%. other earnings news coach reporting a profit of 46 cents a share for its latest quarter. that's two cents above estimates. the hand bag and accessories maker helped by a drop in discounting activity and that stock seeing a pop of almost 6% at this hour. >> and republicans on the hill urging president trump to take a step back from trade after putting nafta on the chopping block. here's what commerce secretary wilbur ross had to say about the trade agreement on cnbc. >> nafta is an ancient treaty. it's decades old. neither our economy nor the mexican nor the canadian economy are remotely similar to what they were back when the deal was done. there's nothing in it really about the digital economy. there's relatively little in it about the service economy. and in the sections that it does address, some of those are also clearly obsolete. >> joining us right now, former new kor ceo dan dimicc

they went to the pfizer court twice.fizer -- finally the court allowed them to use overseas people to, they call it sleep, but they actually spied on donald trump, prelex, during election, and after election un. susan rice illegally uncovers that information and leaks it. why aren't we talking about donna brazille leaking the questions to the different debates to beat bernie sanders? host: okay. i'm going to leave it there. sorry for the abrupt ending. breaking news from the associated press before our next conversation. british officials say the manchester police will stop sharing bombing investigation information with u.s. amid fury over leaks. earlier reports say the prime minister teresa may is likely to bring this up when she meets with president obama during their nato meetings in nato today. we'll take a short break and when we come back francis rooney republican congressman from florida will be here to talk about the president's trip. we'll be right back. >> regardless of your background, remember where you came

am, pfizer, 21st century fox. berkshire hathaway and cbs. congress could vote on healthcare as early as next week. monday puerto rico faces a deadline to restructure $70 billion worth of debt. bankruptcy is looking like a possibility there. coming up next week, the must-see interview with the ceo of nasdaq. don't miss ""mornings with maria"" where my special guest will be treasury secretary stephen mnuchin. i'll be live from the conference in los angeles. first, bob massey fit show, property bob massey fit show, property for 35 years i've been practicing on living in las vegas. ground zero for the american real estate crisis. it wasn't just i guess i was at heart, lives were destroyed from coast-to-coast. as the economy tanks, now, it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so i had up from the strip to the desert to show you how to explore the new landscape and live the american dream. i will help real people who are facing major problems explain the bold plans

he story you refer to says outside pfizer to presidents to people people -- make changes, go for reboot and those price by what is going on on they could pe that find better way to do tax reform healthcare or ing, the senate is working on it and just read between the lines for your i was confused about this myself. we hear people in the republican leadership saying that the senate will take the house bill, it, we see senators on your air and on sunday's hows saying we'll scrap the white house bill that was just scrapped and start with our own. had to have t, i somebody translate for me. it is same thing, people want to stories.erent so the senate republican leaders ay we took the house bill, it needed a lot of work and some things try to save the house from themselves, some politically impalatable things have real world effect on people out in districts and fix those and move on. if you are senator, susan maine, we did our own thing, started at the beginning. is mainly semantics, fix this bill, dramatic changes to this bill. i'm told that will take most of summer, that will take a while

as we reported, apple reports earnings along with fellow dow components pfizer and merck. auto sales for april will be released. and on capitol hill, the ceo of united continental will testify in front of a house panel over the recent removal of a passenger from a recent flight. >>> sue, more than half of americans either own or work for a small busi. according to the small business administration, they create about two out of every three new jobs in the united states every year. a growing number of small businesses are started by millennials, but this group is facing some challenges. as part of our small business week series, kate rogers traveled to atlanta. >> reporter: like many millennials, 29-year-old candace mitchell graduated from georgia tech with student debt. but that wouldn't stop her from pursuing her passion. >> rather than seeing it as a weakness, i saw it more as an opportunity to really be even more courageous when it comes to making sure that i am successful. >> reporter: in 2014, mitchell decided to start her own business. >> my ivana specifically recomme

so names like pfizer and gilead and eli lily will benefit on their bottom line each year with hundreds of millions of dollars in tax cuts. it's a positive for them. additionally, not a single provision was inserted to deal with drug pricing. that's a big deal with a lot of americans having concern over rising drug costs. >> what about the medical device makers, the medicinetronics ame like? >> the medical device tax, $24 billion over ten years, is eliminated. at the same time, because hospitals oftentimes negotiate and make payments for medical devices, the downward pressure on hospitals could actually extend further downstream to the medical device and the health care i.t. companies. >> what do you think the fate is of this bill? there were several times where we thought that perhaps they didn't have the votes. they finally did have the votes. will we see a replay of this as it goes to the senate, do you think? >> i think we're at halftime in the game. and the second half, as is the case in most playoff games you've seen, whether hockey or the nba, teams tend to play a little harder w

said mr macron would be a ha rd pfizer said mr macron would be a hard negotiator but wouldn't want it to leave the eu. chris morris looks at what kind of negotiating position the new french president is likely to take. the first thing you need to know about emmanuel macron is that he isa know about emmanuel macron is that he is a passionate pro—european. know about emmanuel macron is that he is a passionate pro-european. he campaigned on an overtly pro—eu platform. is that likely to make a tough nut to crack when it comes to brexit negotiations? yes. but france was always likely to play that role. if you look at some of the things he's said on brexit during the campaign, the language is pretty striking. in one interview, he called brexit a cry and said, was quick to happen is not taking back control, its servitude. let's have a listen to the most recent comments he's made in the last few days. brexit is not a walk in the park, on a financial basis and in terms of organisation and consequences. don't forget that brexit is not at the top of his list of priorities. he has vowed to reform

reporter: the biggest companies in the space are merck, bristol-myers squibb, astrazeneca, roche, and pfizer. the companies have generated results that have excited the medical community. it was merck's keytruda that former president jimmy carter credited with completely shrinking the brain tumors associated with his stage iv melanoma. not all patients see such a dramatic benefit. so a key strategy is combination therapy, finding out if putting multiple drugs together produces responses. >> some patients don't respond or don't respond for very long. we're really trying to understand more to the next level. >> reporter: these research updates frequently move stocks as drug makers compete. >> investors are putting anywhere between 30 and $40 billion, and investors are trying to figure out how you divvy that up. >> reporter: insight's shares spiked after an experimental drug showed promising results in combination studies in a number of different cancer sites. with combination therapy looking like the future of cancer treatment, another question arises -- cost. with many of the newer cancer dru

pfizer and merck before the open. on the performance, one of the company's newer cancer drugs and its biggest driver of sales growth. nicole: coming up, vice president mike pence makes a late night visit to capitol hill for the health care bill. we will have the latest vote count. and how will the housing market they are under a trump presidency? we will take a closer look at that. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ .. nicole: rise and shine. let's get you caught up on what is happening. the white house has armed to vote on a rise health care plan. vice president mike pence visiting capitol hill yesterday to drum up support from revealing about my care. officials tell fox business they believe they are only a handful of votes from getting the bill passed in the house and the vote could happen as soon as tomorrow. president trump scheduled to speak with russian president latin america newton today for the first time since relations between washington and moscow are at an

a more volatile chart as you can see for pfizer, the one here as well. apple of course centerstage.le to deliver the best answer sales growth. a lot of that based on iphone sales. a big report coming out today as well. dagen: absolutely, cheryl. we usually look at ge. try apple. thank you so much, cheryl. president trump said to speak with vladimir putin. in the meantime, angela merkel paying a rare visit to russia. what it means for relations with the country. and it was all about wearing weird clothing at night, -- matt galli. however he just can it be? you will see that turned out it's at the star-studded event. straightahead. ♪ why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four h

to bynestlÉ has agreed pfizer from nutrition business for $4 billion.hen the deal went through, he got a big payout. then he went to work for the french president and personal friend franÇois belonged. two years later, hollande gave him the prestigious position of minister of finance. by now, franÇois lond, popularity had fallen. disliked, and the legislation had to be forced through parliament, sparking protest. macron increasingly criticized the government, but still enjoyed the president's support ridley last year, he launched his own political movement, en marche, or "on the move." he has really come out of nowhere. three years ago, emmanuel macron was unknown to the general public. >> i am on the campaign trail with emmanuel macron. aporter: he was seen as presidential longshot. >> when he started his movement, everyone, including many journalists like mice elf, were -- like myself, were like, that is cute. but he is not going to going where area reporter: but borrowing from barack obama's playbook, he took to social media. by the time france went

city is cutting pfizer 28 cell. lilly the shares are up this year. you can see they are now down to percent. we see more news and retail. one of the latest disappointments is exporting goods. that was below estimates. now the outlook for the year is for a gain of 1% to 3%. down, under and nike are trading lower. the top customer, the largest customer for under armour is dix. the number two customer for nike is ticks. you can see how they could be linked. even though we are not seen political reaction and stocks. we are seeing more of reaction in the u.s. dollar. we have seen week's there. the dollar is now the lowest since election day here in the united states. the euro is strengthening versus the dollar and gold has been strengthening today. if you look at longs on the u.s. dollar, we see there is less bullishness. these are speculative longs. your now since august in terms of the longs on the u.s. dollar, that implies perhaps we could see some more downside to the u.s. currency. vonnie: thanks that update. 10 ceos from retail and consumer products

president trump's tough infrastructure pfizer has a front-row to the downfall of new york city's pennsylvaniaaugust property owners to 5 -- surrounding that -- several times by problems over the last few weeks. for those who don't know, there may be some in the audience who don't -- what is the state of penn station? ofre's no shortage complaints about how byzantine, the levitated it is. very. it has been as you mentioned, rough a few weeks for penn station. the retrain the mate -- derailments in march and april that delayed passengers. last week, there is foul-smelling water pouring through the ceiling in a ticketing area from the plaza above the tower. rainwater came in friday and flooded couple of the top -- tunnels. it has been a tough time for penn station, the facility is in desperate need for renovation with no answers. david: there are several office towers under the -- control of stephen ross. tell us about him, his involvement in real tape -- real estate in the trump administration. mark: his chair of realty trust, dutchminant owner of around madison square garden and penn station.

banking and commercial banking because it is hard to take money and speculate with that money in pfizerarkets. i think we are going to get some information on corporate taxes and restructuring in the financial sector in general which makes the fed it job easier. now you have fiscal stimulus. >> what about the fiscal return -- reforms? also of course, plan to tax change youroes that view on the u.s. economic expectations? >> it does. i always thought the central banks do the heavy lifting. you did not get tailwind from the fiscal or government side. what you're hearing is if the record hoping congress and a republican executive office are able to pass any legislation whether it be infrastructure spending, corporate tax relief or individual tax relief, trade agreements, these things are all positive for the u.s. economy and therefore i think the central bank does not need to do heavy lifting. you're getting support from the government side as well. if you look at the last 3-5 months. the show markets have gone up. the fed has been able to raise rates by 25 basis points without a change in

>> by pfizer shareholders having their jerry maguire moment. show me the money.that's an absurd amount of cash, almost difficult to contextualize administrators play kidding right now. they increased the dividend. they do make an acquisition and break rank with their history. apple doesn't make big acquisitions. peace was a big one of three brilliant. i don't think apple will do anything until washington gets off it that often passes tax reform. the money will be part overseas and tell our elected can move swiftly. i don't think many people have faith in that anytime soon. this is continued tension with investors and management. do something that the cash via unsatisfied as and move on. nicole: foundered analyst with chief research analyst. lauren: white house budget director mick mulvaney blasting the democrats victory dance on the $1000 spending bill. >> they wanted a shutdown. we know that. they were desperate to make this administration look like we couldn't function, like we couldn't govern. lauren: a vote expected today in congress. we'll take a closer look

. >>> a massive joint initiative underway between pfizer and ibm called blue sky project. >> the goalm care for those with parkinson's disease. >>reporter: doctors have been testing and monitoring park and patients -- parkinson's patients for years in an office environment. now new efforts are underway to measure motor skills and a homelike setting. >> the apparent -- the experience of a person living on their own and all the sensing and analytics into this environment so it is not in the way of the individual living their life. >>reporter: on ibm center grounds a makeshift home where cameras and centers are installed. first helping volunteers perform a series of scripted test monitored by scientist. daily living activities like sitting in a chair, sleeping and opening a water bottle are measured. >> these include things like walking over and opening a door. here we get the same stereotype motions. we have them pick up a lab coat, put it on and run through buttoning buttons. >>reporter: later this year the first testing at the lab both on and off medication will begin. eventually, the

. >> pfizer, how many shares did they buy back because they are shrinking the share base at a rapid clipwe have $100 trillion economy, it will be $200 trillion. buy jpmorgan whenever algorithms sell it to you. >> juniper networks will break out now and will shoot above $32. we haven't talked much about-face book. facebook comes the next day. what do we think? >> you have to go with it until we don't. they're dominant. the acquisitions we thought were too expensive are adding to the company. >> that's the problem. you haven't gotten one. >> i got out too soon. >> these big, high-flying sexy technology names. >> google fell 50 points. >> that's good stuff. see you tomorrow. "power" starts now. >>> i'm melissa lee. facebook and apple hitting all-time highs. nasdaq had record levels, too. a trip inside the numbers straight ahead. one of the big interviews of the day here on cnbc ben bernanke doubts we can get to that magic 3% growth number. this as the atlanta fed says we could see a forehandle on gdp real soon. netflix soaring to new heights. this is the streaming giant becoming the latest

you saw pfizer and j&j down as well. allergen got a down great from goldman sachs. the stocks performed better. boeing and disney, drags on the dow. boeing was lower after the report of the 737 max was suspended because of engine issues. disney continues to suffer because of espn. in a market that has traded in look step with news out of washington. the news of the chief's dismissal hardly hit the dow. keep a close eye on the market indicators. this, make no mistake, tax reform is dead this year. people are sure to get worried. investors are remained optimistic that tax cuts will happen. since the election, the dow is up 14%. the s&p 500 is up 18%. since election day, the only sector in the red, energy. everything else higher. it's not clear how long investor optimism will be up as there's more and more optimism. >> neil: thanks very much. mean thyme, people have question why not? why fire james comey now? if there's problems and both parties had problems with this guy and a number of prominent democrats a number of weeks ago saying he should be out, well, now he is

the stock market, not all dows components are positive though, cisco's leading upside, but we have pfizer nike and chevron, so a cross section of companies dot downside today, but right now, the dow is up 90 points. was up more than 100 points awhile ago. >>> shares of ford higher after the giant replaced its ceo, mark fields, this morning. phil lebeau has more. >> let's talk about the new ceo at ford, and a lot of people say, who is jim hackett? he was a ford director from 2013-15 and took over the company's mobility business out in the silicon valley. what's the outlook for him? what challenges does he face in keep in mine, fortd ld lowered outlook, but could be the most profitable year for the auto maker, but the focus is on improving value and creating value in divisions where it's created. if he can't find it, get rid of the divisions or minimize them as much as possible. beyond all else, the chairman says the company needs to move faster. >> we need to be quicker in our decision making. we need to have clarity in the messages and communications, and that's something -- and we also n

, doesn't even come -- it's so far above bigger pharmaceutical company executive comp saying like pfizernd merck. they don't get anywhere near that. >> there's no doubt. they were getting huge payouts over this time and now they're going to have to deal with it. and we know this is front and center, and they've had to roll this back because there are really no other choices for the most part for this type of medication that's needed. and so the united states that's paying for it for schools, for hospitals and of course -- liz: required. >> right. required. and also for individuals as well. liz: nicole petallides from the floor of the new york stock exchange. we're watching mylan stock, and we should also say -- what are we at now, acia? 25 requests or so into mylan to have the ceo come on. they will not. we'll have more on this story tomorrow because new york city controller scott stringer has been outraged about all of this. he's going to explain why the nyc pension fund is going after mylan's board and lining their pockets with all of that money. closing bell ringing in 26 minutes. the

pfizer and mars building big factories in russia.eneral motors, ford, starbucks, pepsi. they all have enormous business interests n. and partnerships with russia. so if you're in kushner's position, head of a real estate company, of course you're going to take advantage of that market. again, nothing wrong with that. >> sandra: while he's under investigation, is there any chance he will lose his security clearance? >> president trump is the ultimate decisionmaker on whether to yank somebody's security clearance. or to grant security clearance. it's totally up to him. i suspect he won't do it. and you know what, under the circumstances, no evidence of a crime here byr, why yampg his security clearance? >> sandra: gregg jarrett, thank you. all right, republican greg gianforte winning a special election last night in montana. this after the race for the state's only congressional seat took a bizarre turn when gianforte attacked a news reporter. well he has since apologized. alishia is live in bozeman, montana with the latest. alishia? >

it was a pfizer request and it was for carter page. he had met with a known russian spy, exchanged information with him. he had taken money from russian -- >> oh, he's in deep. when a support issues an order saying it's ok to surveil an american citizen, as tony says, you have to have probable cause that a crime has been committed and a strong suspicion that the person has something to do with the crime. so clearly he's looking for an immunity deal. >> thanks very much to all. next, breaking news, another trump pick for a top government post dropping out tonight. why? and the white house used an alleged rape case as an example of why the united states must crack down on illegal immigration. the rape charge, though, dismissed tonight. what is the trump administration saying now? imy moderate to severeng crohn's disease. i didn't think there was anything else to talk about. but then i realized there was. so, i finally broke the silence with my doctor about what i was experiencing. he said humira is for people like me who have tried other

melissa: united health, nike and pfizer among the dow's biggest drags. lori rothman watching it all from the new york stock exchange. tech is a big winner. how high do you think the nasdaq is going to climb, lori? reporter: north record second day in a row for the nasdaq at these record highs. look at that, .3 of 1%. any gain would put the nasdaq at a consecutive record. what pushed nasdaq to the lofty levels. back-to-back all-time highs for key member stocks of course. amazon up today by .8 of a point. google up half a percent. alibaba, obviously the chinese e-commerce giant, fourth straight record close. baba is up more than 40% so far this year. what a performance there. mcdonald's not on the nasdaq but a dow member and keeping the dow from much deeper losses today with .6 of 1% gain. third consecutive record close for the fast-food giant. look at shares of twitter. twitter up a good amount today, huge headline, one of its original founders, biz stone. christopher biz stone is returning to the company after a six-year absence much wall street investor

let's put this up on the screen because this is the pfizer court recently scolding the former obama administrationd the court ascribed the government's failure to disclose those reviews to an end to lack of candor on the nsa's part and emphasized that this is a very serious fourth amendment issue. so, people look at this and they think about the unmasking, mike flynn, everything. what does it mean to the normal, average person? speak of the government can use the overwhelming force and power of government to engage in political espionage, to engage in all kinds of manipulation and -- >> martha: like what we saw with the irs. >> like that and worse. there was this committee back in the '70s called the church committee, looked into abuses like that. it included that every presidential administration had used intelligence gathering agencies within the government to engage in political espionage. this is human nature. is why we need a need a constitution, why we need limits on government. >> martha: let me put up something that is legislation. president trump this morning talking about health care and

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i think the national security pfizer surely can. >> martha: that was fbi director james comey at a humorederda. the unnamed national security advisor is susan rice, over her role in requesting unmasking trump associates. congressman trey gowdy made clear that there are other ways of getting her the witness chair. >> congress don't pick witnesses, lawyers from pick witnesses, the fact that their witnesses. whether she likes it or not, she is really important fact witness. >> martha: fox news chief intelligence correspondent catherine herridge's is here to tell us about where the story goes from here. >> the fbi director of the head of nsa were back on the hill for a classified session, dealing with a 2-month-old request for record showing who's communications were swept up during foreign surveillance, and who in the last administration had access to american names. with the new republican leading to house russia case, an effort to put political differences to one side. >> i want to come out and we have had a very successful hearing and i appreciate you guys being here. we will be issuing a

julia: the likes of boeing, ge, pfizer, they are all pro what you sell being important.aughter] for those who believe that there should be some changes, i mean, is there any concession? any room among the ceos to admit that they could roll with changes and just need to adjust? sen. mcconnell: they are really doubling down on the hard-line that this is an unacceptable and of negotiation. if you are an apparel maker, if you are gap, you import most of your goods from overseas. gap is already struggling in the fundamental shift without people buy clothes. they cannot afford another huge cost increase. joe: another important aspect of tax reform, are there other important things they are focused on? or is it this or nothing? sen. mcconnell: they also want to see the corporate rate go down, but this is what they are is ending the bulk of their time lobbying on and they are all paying close attention. julia: urban outfitters is continuing their trend in a shift to e-commerce. i think they're going to have a tough time. they have set themselves a relatively low bar, but if they

the way 702 works is under that provision of the statute the pfizer court, federal judges authorize us as u.s. agencies to collect the communications of non-u.s. people that we believe to be overseas if they're using american infrastructure. the criticism the fbi has gotten and the feedback we've gotten consistently since 9/11 is you have to make sure you're in a position to connect the dots. you can't have stove piped information. we've responded to that over the last ten years, mostly to the great work of my predecessor. so if we collect information around 702, it doesn't sit in a separate stove pipe. it sits in a single cloud type environment so if i'm opening an investigation in the united states and i have a name of the suspect and their telephone number and thaeir e-mails addresses, i search the fbi databases. that search necessarily will also touch the information that was collected under 702 so that we don't miss a dot. but nobody gets access to this information that sits in the 702 database unless they've been trained correctly. if there is -- let's imagine that terrorists ove

sponsored by pfizer. needles.tial for him, but maybe not for people with rheumatoid arthritis. because there are options. like an "unjection™". xeljanz xr. a once daily pill for adults with moderate to severe ra for whom methotrexate did not work well. xeljanz xr can reduce pain, swelling and joint damage, even without methotrexate. xeljanz xr can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections, lymphoma and other cancers have happened. don't start xeljanz xr if you have an infection. tears in the stomach or intestines, low blood cell counts and higher liver tests and cholesterol levels have happened. your doctor should perform blood tests before you start and while taking xeljanz xr, and monitor certain liver tests. tell your doctor if you were in a region where fungal infections are common and if you have had tb, hepatitis b or c, or are prone to infections. needles. fine for some. but for you, one pill a day may provide symptom relief. ask your doctor about xe

pfizer has been taking questions on the firing of director james comey and the search for his successor. it is hard to say if president comey's loyalty in a meeting, and in reality tv, who leads the kardashians? you can catch more on this on our bloomberg out on tv . ♪ this is bloomberg markets, i'm scarlet fu. julia: president trump has escalated tensions amo jes comey. for a rap on another dramatic and busy week in washington, our washington correspondent joins us in the studio today. he covers financial regulations for bloomberg news. kevin? kevin: what a week. let's talk this final installment in the saga. other wiretapping accusations in the first 100 days. president trump is pushing against criticism that he had bad timing and firing james comey, but the plical's he is reading or tweeting is very different than what his officials are saying themselves, including moments ago. sean spicer returning to the podium, but not giving details. he was notroding a timeline, no evidence of wiretapping. still more unanswered questions and it will just get worse because james comey, now the

on the upside, you have dupont, pfizer, verizon gaining at least 1%.of the chemical names and the telecom names, telecom has been a star performer over the last couple days. in terms of individual movers, i want to highlight michael kors. that stock plummeted, down 8.5% after seeing store sales drop -- 14% last quarter, worse than projected. for this quarter, things don't look much better. perrigo with an increase after first-quarter increases beat estimates. it had gained as much as 12%, but reclaiming some of that advance. joe just broke the news that it is exploring a sale. joe: a possible sale, but interest is lukewarm. on the government bond market, .et's look nothing happened in the u.s.. at one point today, 10 year yield was below 2.2%, but ended up unchanged. interesting, more action in china. lots going on, the deleveraging, the pboc moving up the human reference rate in a surprise to traders. reverberating a bit in the bond market. five-year yields, one of the bigger gainers on the day yields falling to 3.6%. a quick chart, we are close to po

house bush atte pfizer to president bush. -- advisor to president bush.he joint secretary, they are opec andbrief non-opec. give me the backdrop, what are the numbers? guest: as an underappreciated aspect we have a boxing match. a, the one hand there is ie telling folks if you stick with the current catch you will rebalance by the end of the year but they will hear something different from the opec secretary. they will say it is not enough, we are not going to draw stocks at the current restraint level. that is clear from opec's numbers so the ministers will hear a very different message that we heard from others and it will make the decision a little tougher for everybody. manus: they will decide who to believe, their own barrel counters or the iaea. -- iea. do you think we will get any isck and awe from opec or it -- or is it extend and content? guest: complaint is getting tougher. they will extend nine or 12 months. they created expectations, they do not want to further spoke those traders and investors who have been buying into these meetings. they wa

liz: they've added an equivalent or pfizer or ge since the election.hat will make apple a $1 trillion, to pop it, they have be 173. if you're an apple shareholder you're happy. what is going to do it? they need to invest in something that's going to pop it higher. is it r & d? they're not investing as muches a google. how they deploy the cash to grow higher. if they're growing 6% they're a trillion dollar company by 2021. how do they move the bar closer, is by investing in r yn dachlt. i don't know if it's the apple car, but the big hit on-- >> there's pressure on apple to make a major acquisition, netflix or even tesla has been thrown up there. bill gates sounding optimistic on the economy. roll tape. >> the u.s. economy is doing well and the innovation in the u.s. is doing well. i think this is a period where the u.s. formula looks great. >> all right, back to you, steve cortez. you know what? politics aside, almost eryone who economics is coming to the same conclusion. u know, you've got this amazing surge and optimism which is now manifesting into

pfizer helped by better sales of the cancer drug and-- profits down at cvs. felled fewer prescriptions and lower traffic. that hurt sale of front end store items. the stock is up 5 cents at 82. what's the price gasoline, by the way? 2.37 that's regular. and now president trump sauce he'd consider raising the gas tax. liz: the problem, in new jersey and across the country, you can't have a lock box towards infrastructure. it goes toward things as bicycle path, horse trails or lan scaping on the highway. it's going to be tough for the president to do something like this. they go insane at the pump when see see it go up. stuart: scott, you're in london where it's $10 a gallon. that's right, you don't want to smoke or drive here. you would consider breaking up the banks, consider-- he's a business man, he'll consider everything, whether it's a good idea or a bad yiet, he wasn't taken that off the table and said that while running. he'll consider them until they take them off the double. we're dealing with a man hf here, rather than the old president who would spe

pfizer too. 2.3 trillion for the s&p 500.s a lot of money, theoretically taxed would pay a whole year's government deficit here. what doesn't get as much attention, how much engineering has to go on to make that happen. apple has more debt than puerto rico which is basically bankrupt, to let them have money here and keep money untaxed there. it is a very hard problem to solve. the current tax code is just going to permanently create this incentive. it won't go away. a lot like, giving them quick 5% deal to give them back is like amnesty thing. it will keep accruing trillions of dollars tech and ip companies, shift the profits to make them appear anywhere. i don't want to blame them. it is legal. the tax code has to change for the modern world where your profits and expenses appear like "whack-a-mole" anywhere in the world. maybe have to go to zero taxes on corporations at least at profit level. it will always go on. they can, you're talking about the tax savings on one percent less tax, that kind of money could pay for the wh

pharmaceutica pharmaceuticals, the quarter ended march 31st, decreasing stakes in allegan, mylan, pfizerdan lobes filing, that he dissolved stake in apple and decreased stake in facebook, but added new positions in the tech industry included sales force, qualcomm, and hp. third point acquired shares of snap, but unclear if either hold the company after yesterday's slide. remember, snap went public a few months ago and had first quarter earnings, first earnings report. starboard just came out, digging through the filing now. we'll report back with what we learn. >> snap, wow. all right. leslie, thank you for now. leslie picker in headquarters. move over college students, seniors lead the way in house sharing. all the details coming up. but, first, snap shares sunk this week after the first earnings report. drastic to make other companies right after this. the power of the nasdaq market. the power of 100 of the world's top companies. the power of an etf. the power of qqq. the thinking we put in, clients get out. power your client's portfolio at powershares.com/qqq. before investing, consid

as you are all very aware, section 702, the pfizer amendments act, is due to expire at the and of the year. i cannot stress enough the importance of this authority in how it does its work to keep americans safe. i know that that is shared by everyone at this table. section 702 is an extremely effective tool to protect the nation from terrorists and other threats. as i described in my confirmation hearing, it is instrumental to so much of the critical work in protecting the american people of threats from abroad. the intelligence community is committed to working with all of you in both classified and unclassified sessions, to assure that you understand not only how we use our authorities, but also how we protect privacy and civil liberties in the process. additionally, many of you have asked me as part of my confirmation process about the status of the ic. , its effectiveness and efficiency, and how it could be improved. as part of the administration's goal of an effective and efficient government, the odni has already begun a review of the entire intelligence community, to include th

section 702, the pfizer amendments act, is due to expire at the and of the year. i cannot stress enough the importance of this authority in how it does its work to keep americans safe. i know that that is shared by everyone at this table. extremely2 is an effective tool to protect the nation from terrorists and other threats. as i described in my confirmation hearing, it is much of the to so critical work in protecting the american people of threats from abroad. the intelligence community is pledging to work with all of you in classified and unclassified sessions, to assure that you understand not only how we use our authorities, but also how we protect privacy and civil liberties in the process. additionally, many of you have asked me as part of my confirmation process about the status of the ic. its effectiveness and efficiency and how it could be improved. as part of the administration's goal of an effective and efficient government, we have already begun a review of the entire intelligence community, to include the office of the dni and to answer the very ques

pfizer, a 2% revenue miss. to a positively affirm of 2017, the revenue is flights. the revenue. tv , let me bring it up. you can see live tv. forget about that. you can come over here and come down and you can find any of these charts, see the previous segment. this is the bernanke chart. you can see that segment and you can steal that chart from the team at bloomberg surveillance. it does have elements of picasso and it, but i think it has got nt field, as well. -- feel as well. ♪ bloombergthis is surveillance. taylor: that's get to the business flash. the ceo of capital management has appeared to learn a lesson. >> we made a mistake in the past and knocking on the board we cannot see what was going on. that was the big mistake. >> does it mean you will stay way from pharmaceutical companies? >> probably. taylor: ackman says they are working on two large investments. he declined to identify. pimco's new ceo plans to hire employees after a renewed push of growth. at abooklet bloomberg tv global conference. >> we want to be the best at what we do. we can deliver

did back in we are looking at pfizer. city lowered the stock to a cell from neutral.t pricing pressure on cancer drugs and risk on an increased over price for medicare reimburse drugs. those shares are down 1.7%. it is down to $31 per share. ford is moving up i 1%. the wall street journal reports they may be talking -- cutting 10% of its global workforce. that would largely be among salaried workers. voluntary cuts have already been offered in europe. the shares are up today on this report. alix: thank you so much. you can feel the pressure to really get some costs down. heid: the stock is down and has a lot of challenges. he wants to move into mobility. it takes a lot of investment. alix: the noose is tightening. the real drama has been in the dollar as the drama in d.c. continues. the dollar is at its lowest level since the election. joining is the u.s. equities driven strategist. explain to me the interpretation of what happened over the last 12 hours. is ath the s&p up, it positive. there is no necessary impact. the dollar is clearly a factor. one of the things we