we contacted pfizer, and mary received that second rebate for $225.in a statement pfizer said patients are at the heart of their daily work and it's happy they could quickly resolve the issue. if you have a consumer complaint, call us. 888-996-tips. we're on live at nbcbayarea.com/responds. >>> so kari, your big window on the world behind you says summer! in san francisco. >> well, yeah, it's august. >> that's true, in san francisco this is typical. >> and it's funny, someone in san francisco -- i won't throw your name out there -- is asking, when is it going to warm up? >> it was like 101 degrees a month ago. >> we're going to have more of that wide range in temperatures. all you have to do is make a short drive to get the whether y -- weather you want. in concord, 73 degrees. still feels comfortable if you're getting ready to head out the door. in oakland, 63 degrees, 67 in napa, santa rosa at 66 degrees. it's just about where we were yesterday. in some spots a little bit warmer, other spots a little bit cooler. gilroy, you're feeling slightly coole

pfizer's second-quarter profit was better than expected. trying to calm investors concerns after debt rose to a record traits the british properties is lower oil payments for the rest of the year and funds from asset sales will ease the burden. bp has almost $40 billion in debt. the company posted second-quarter profit that beat estimates. that's the latest bloomberg business flash. what's next? battle of the charts, risk versus conflict. one index plunging, the other surging. this is bloomberg. ♪

the company behind disney, pfizer a major player in the tech industry just think this is extremely strong were you bothering to pay attention? i think i might have been the only person. i'll investigate rapid fire in tonight's edition of "lightning round" stick with cramer! >>> tomorrow, kick off the trading day with "squawk on the street." live from post 9 at the nyse. >> this is so outrageous i'm actually using my low tone when i'm at home >> i feel like i'm about to be disciplined here did i do something wrong >> it all starts at 9:00 a.m. eastern. for your heart...

he heads pfizer's vaccine operation. >> people haven't seen these diseases in a while, so people become complacent. they don't vaccinate. and what they wind up doing is putting their children and themselves in considerable risk of a severe disease and infection. polio, even though people aren't worried about it because they haven't seen much of it, is still present in many parts of the world, and it can easily be introduced into a non-vaccinated population. and from what we've seen in other parts of the world, once it's introduced, it will spread very rapidly and cause a lot of disease. >> the fear, my friends, is polio. but soon, perhaps within a year, there may be a vaccine. >> thanks for visiting with us. hey, kids, how about saying good-bye, huh? >> good-bye! >> when i was a child and the big scare was polio, where you would see your friends playing ball outside with you, baseball and basketball, and all of a sudden get sick and be in bed, be in an iron lung, and then come out with a deformity, a

we contacted pfizer and she released the second rebate.you have a consumer complaint call us at 888-996-tips or online. >> thanks, after a series of recent passenger bumps that went viral. these new numbers released today by the department of transportation, now, one in every 19,000 passengers was kicked off an overbooked flight in the first six months of the year. lowest rate since 1995. hawaii topped the list of best on time followed by alaska. >>> still snow in lake tahoe. it says snow from last winter could stick around until the first snow of 2017, 2018 strikes. >> well it is a good base. and it is cool enough right now that snow won't melt in the sierra. >> it is possible. i am still keeping my fingers crossed for plenty of rainfall. our immediate focus is on the temperatures dropping. but i do want to go back into the total solar eclipse. that is when the sun, moon, earth will be aligning. august 20 first, 9:01. we will be able to see a good part of the action. as all of these things line up together across earth as we look out ther

pfizer was at $25.80 for the neck line.f you take out that neckline, it could be in for a monster run. i was confounded by this pattern. i didn't trust it one bit. i knew it was a bad stock. but collins said rotations smotations you have to buy the stock, because something big was going on it was inconceivable sure enough, he was right, i was wrong. the stock jumped more than 10% after collins told me to buy it. what caused the move soon after this bullish reverse was flagged, right here, the huge drug companies decided to spin off its animal health division, it was a shocker, in a move that ultimately created $15 billion in value who knew the chart did. here's the bottom line when you see this pattern, don't take any chances sell sell sell, at least some of it and when you see a reverse head and shoulders developing, you have to consider buying some that's how powerful these moves are, and the chart work on these is vindicated far more often than the skeptics could think possible stay with cramer no splashing! wait so you

would you do it with pfizer? >> yeah. know, given the growth that they just put up, and will over the next couple of quarters, you're absolutely right. it is essentially a bond they return to shareholders about 8.9 billion in the first half of this year, through dividends and share repurchase the good news is that the innovative core was up 9% driven by products like i-grant which has been enormously successful in cancer. but they've got losses of exclusivity for vie rag and lyrica, nearly $7 billion and it's like trying to grow through quicksand. and, so, at the end of the day, while pfizer will say, we have blockbusters over the next five years, the reality is, it's hard to see how you move the needle given the size of this company so investors turn to what's the strategy to drive growth because at the end of the day, if you're going to invest a lot of money in r&d we want the alpha associated with that we want the growth so what pfizer did turn to was obviously the astrazeneca deal which fell apart, the allergan deal w

about potential tax reform because a lot of the questions for pfizer are about potential m&a.gnificant business development decisions before they see tax reform, but he does expect a hard push for tax reform by the administration before the year end. he says he does expect a form of tax reform that will remove some prerks those are the headlines from pfizer's ceo back over to you >> no the wht what some are preg but an interesting take. let's get to wapner and the half >>> well do tto the halftime ret another record high, the dow moving ever closer to 22,000 even as one key market indicator suggesting trouble could be ahead for stocks with us for the hour today, joe terranova, stephanie link, it is a good trading day for investors. 20 points away from dow 22,000 and then what? >>

says he does expect a form of tax reform that will remove some prerks those are the headlines from pfizer's ceo back over to you >> no the wht what some are preg but an interesting take. let's get to wapner and the half >>> well do tto the halftime ret another record high, the dow moving ever closer to 22,000 even as one key market indicator suggesting trouble could be ahead for stocks with us for the hour today, joe terranova, stephanie link, it is a good trading day for investors. 20 points away from dow 22,000 and then what? >> well, look, it's tough to see why something would come out of the blue that doesn't let us get to 22,000. these big levels, although meansless in the grand scheme of things do tend to acts like a ceiling or magnet and we've blown through a lot of levels recently so, you know, flip a coin if we do it today, tomorrow. but i don't think that that has anything really to do with what the way forward says a lot of the technicians that i talk to are talkingabout augus being seasonally not a great time, it's actually the worst month for markets over the last 30 years it's

in the us later, we'll hear from apple and pfizer — samira has those details from new york.pple, due to report earnings after the bell and the key metric investors will be looking at oui’ metric investors will be looking at our sales of the iphone. sales for the iphone seven and seven plus have been really strong which is likely to boost revenue for the company. but there is some worry that customers may delay upgrading their phones in favour of the next device. apple usually releases a new smartphone in september but that could be delayed until october. also reporting on tuesday, pharmaceutical giant pfizer, demand for breast cancer treatment and rheumatoid arthritis drugs will lift earnings for the company but the looming patent exploration of drugs like viagra has investors focusing on plans to resuscitate the great engine and whether deals are on the table. some era patent expiring on viagra, write your aston ‘s please! ? joining us is richard fletcher, business editor at the times. it's good to see you. let's talk about a couple of stories in the news, british american

you mentioned pfizer pfizer 13 times forward earnings is really interesting in an environment we find ourselves in tim mentioned johnson & johnson for a long time. if you like procter & gamble at 10 times forward earnings, in my opinion you've got to love j & j at 17. it's a consumer products company. those two stocks have gone up real well. >> they also have nice dividends. >> they do the last strength that we've seen in the ibb is obviously through the m & a activity i wouldn't be jumping on this bandwagon now. although it's extremely volatile you have tremendous upside you run the risk of having tremendous downside as well. i would be in pharma. >> two pharmas on this end, karen, what do you say >> i don't have much exposure in this space the whole environment is better, however. to the extent they want to sell assets to pay down debt, that's clearly better for them. i'm always afraid of having a stock and waking up with some sale drug. for me, if you want to play it, you have to go in the etf, the xpi is far more biotechie's fault, much more weighted. if you want to get a mix of t

better than % pfizer down fraction big one we are watching apple what you need to know ahead of thereport it happened after the close tonight we will bring you the expectations. we are looking at a rally on wall street infuriates indicating 100 point rally start of trading for dow industrials this after the dow is off a record high close yesterday, the 30th record high of the year, dow industrials today may hit 22000 out of the gate, in europe major indices dooir cropping ft 100 up highs up two-thirds of a percent across the board asia overnight gains across the board as well best performer korea hong kong up three quarters of 1% shake up at the white house oscar scavenger is now out as communications director after 11 days on the job moneying first moves under new a chief of staff general john kelly. >> has full authority to carry out business as he sees fit that includes everybody at the white house. >> the focus is now back to the agenda president set to host a meeting with small business owners later today to discuss tax reform, hackers targeting seven kingdoms major concern for

might have said pfizer has warned north korea not to test president trump saying the country is tiny and irrelevant in comparison to the u.s. and its capabilities this is a little nation if you compare it to our capabilities they don't come near being even close to pick a predator or so this is block this is nothing else except black mail well the comments come after. the latest round of sanctions imposed on p.r. it said washington will pay dearly for what the kim regime. crimes against the country and its people on saturday the un security council unanimously approved sweeping new sanctions against north korea they restrict its exports of metals and food to other member states but also mean the country will not be allowed to increase the number of north korean labor the employe on foreign investment will be blocked it's. a billion dollars per. given the growing tensions. in from washington to develop. a bilateral agreement. develop missiles with two eight hundred kilometers to the next month payload of five hundred kilograms on sunday korea's president trump to change the restrictio

pharmaceuticals, pfizer is my main pick. talk about pfizer for a secreta second. you're basically own it for the 3.6% dividend yield. it's in a distinct uptrend here. not too different from brice toll miers it's nice to get that sort of easy money from the dividend and appreciation in the share price. >> let's move on facebook rising nearly 50% so far this year. kerry is taking profits. why? >> well, as you said, it's up about 50% this year. he' been a fantastic performer we've cut it back because there are other names in technology which is up 28% year to date that we prefer over the near term the we think facebook has to monetize its enormous customer base it's got all of these billions well 2 billionniway that are using it rel largularly but in r to grow the revenue and profit that's a different challenge not that they can't solve it but still a big owner of facebook but didn't want to own it as much. >> where are you putting that money? >> exactly looking at some other sectors. put a little more into biotech i mentioned the stock yesterday. and industrial comp

now pfizer's egmont lulu. also if electric itv on the mind. that i lose this country. in august on we're dealing with with comedian dennis. and. this is the worst part of a democracy. now why should we first signed from office last friday after the supreme court called for his dismissal. they rule the former prime minister should face corruption charges for concealing sources of revenue. the sixty seven year old serve three separate stints as prime minister without ever completing a full term in office. panelists say the speedy change if god wanted road security and economic gains made since the last election in twenty thirteen. it will also ease fears of pakistan tumbling into yet another phase of political instability. eyes travel misery now for thousands of people stranded at one of paris's main railway stations the national rail operator sncf says. a rare electrical fault responsible for signal failures has now been fixed. and those passengers affected by delays will be reimbursed the government now says that is too little. too late. no it isn't a swingin is may ha

stopped selling its drugs for use in executions following pfizer is announcement florida's department of corrections released a statement refusing to disclose the identities of its drug suppliers all executions in florida are done by lethal injection unless an inmate requests the electric chair assays attorney is requesting for the state to use the former drug formula and protocol for his client's execution the death row inmate was convicted for two murders nearly three decades ago florida officials insist executions are not required to be totally painless and say the new lethal injection formula meets safety standards reporting from miami marina r.t. . coming up later on r t black lives matter and a fact of organization is actually bank bills. down with a civil rights activist and our place in america i want to miss that stick around. there's a real irony going. to be told a lay up anger at a responsible way from the people and there is always so that's what it's always been like c.n.n. for all the things we've seen here last fall or are you now a wholesale surveillance you feel you

. >> merck, pfizer, bristol-myers, yes. the names we all know. and i think you're going to get -- you're getting a good valuation, you're getting an excellent yield. a better than bond yield with dividend growth there. we also think you have value in the banking sector. look, you have several tailwinds, interest rates are trending very slowly higher, but they are trending higher. you have the potential for less regulation. that's a huge plus. and you have a global economy that's doing -- that's doing very well as compared to several years ago. so that all plays in well for the banks. >> you know, you also said that -- you also point out in the notes that i have here that energy has been out of favor. it's had a decent run recently but you have three energy holdings that you think still provide good value. >> yes. and in this space, we think it's very important to stick with quality and we own the three highest quality names there are. chevron, kpexxonmobil and schlumberger and getting paid to wait with above average dividends there and companies

it is bringing in a strategic and pfizer or separating the headset business.s fit for any single suitor. japan, still failing and those inflation doldrums, only edging up slightly in july, point 5%, and behind gains in growth way behind that doj 2% target. our next guest says no problem. optimistoclaimed japan , you're reading of the situation? a goldilockse is situation. you have the situation where wages are increasing and you have a strong increasing corporate profits, and the purchasing power of the people keeps on rising while the profitability for investors is going out, so that is a fantastic situation, and ironically japan is in a egg economic sweet spot. -- is innate league economic big economicn a sweet spot. rishaad: is that a problem ultimately or are people getting their knickers in a twist for the wrong reason? problem for the boj because they have promised to percent inflation and now we get .5%, so there is a long way to go, but in the real world for consumers and for corporations, japanese companies, we are out of the doldrums. remember that i

pfizer's second-quarter profit was better than expected.to calm investors concerns after debt rose to a record traits the british properties is lower oil payments for the rest of the year and funds from asset sales will ease the burden. bp has almost $40 billion in debt. the company posted second-quarter profit that beat estimates. that's the latest bloomberg business flash. what's next? battle of the charts, risk versus conflict. one index plunging, the other surging. this is bloomberg. ♪ vonnie: -- mark: drum roll. to start this off well. i'm taking a look at the city macro risk index. this is a measure of prices and move depending on risk aversion. higher this goes, the more risk-averse people are. every timets here, this reached somewhat of a low. each time it hits this low you can see this index tends to -- people are not too afraid, and that it surges of people become risk-averse. i want to point out what happened recently. this yellow circle over here was may, when the index hit its lowest level in 7 years since 2010 which was the lo

ireland and you are not down to 20, i'm not sure you are getting enough bang for your buck to get pfizer their operations and cash back here. kevin: a zero tax rate on new investment, software technology, incredibly pro growth, keeping things that rewardinnovation and bring profits back. we want a leap frog into that top three most of competitive places on the planet for the next few jobs. all those elements are critical to us. paul: subchapter ss pay at the personal rate. a lot of small business owners say it has to be parity with the corporate rate. does it have to be in your view parity? kevin: i don't believe so. but i think we need to deliver an equal tax cut for our local businesses. whether you are a mom and pop or corporation worldwide, we need to lower those taxes equally because so much of our growth is included in both side of that ledger. i think drive those rates down as low as we can regardless of the type of business you are structured at. paul: if it's 25, you could live with that? >> i could. that is an equal 43% tax cut for both. but it's really important for our non-c

ireland and you are not down to 20, i'm not sure you are getting enough bang for your buck to get pfizer companies to move their operations and cash back here. kevin: a zero tax rate on new investment, software technology, incredibly pro growth, keeping things that rewardinnovation and bring profits back. we want a leap frog into that top three most of competitive places on the planet for the next few jobs. all those elements are critical to us. paul: subchapter ss pay at the personal rate. a lot of small business owners say it has to be parity with the corporate rate. does it have to be in your view parity? kevin: i don't believe so. but i think we need to deliver an equal tax cut for our local businesses. whether you are a mom and pop or corporation worldwide, we need to lower those taxes equally because so much of our growth is included in both side of that ledger. i think drive those rates down as low as we can regardless of the type of business you are structured at. paul: if it's 25, you could live with that? >> i could. that is an equal 43% tax cut for both. but it's really import

ireland and you are not down to 20, i'm not sure you are getting enough bang for your buck to get pfizernies to move their operations and cash back here. kevin: a zero tax rate on new investment, software technology, incredibly pro growth, keeping things that rewardinnovation and bring profits back. we want a leap frog into that top three most of competitive places on the planet for the next few jobs. all those elements are critical to us. paul: subchapter ss pay at the personal rate. a lot of small business owners say it has to be parity with the corporate rate. does it have to be in your view parity? kevin: i don't believe so. but i think we need to deliver an equal tax cut for our local businesses. whether you are a mom and pop or corporation worldwide, we need to lower those taxes equally because so much of our growth is included in both side of that ledger. i think drive those rates down as low as we can regardless of the type of business you are structured at. paul: if it's 25, you could live with that? >> i could. that is an equal 43% tax cut for both. but it's really important fo

not much of a move for pfizer. revenues are he lower.neumonia vaccine. the stock is only down 32 cents, one%. >>> sprint up big. the ceo says a merger decision is near. that is good news, up 11%. >>> two stories from california. los angeles sealing the deal on 2028 summer olympics. who are on that. >>> conservative move helping republicans from liberal states like california to conservative states like texas. we've got that story for you. we'll be back. ♪ ♪ >> i'm cheryl casone on floor of the new york stock exchange. we were 11 points away from 22-k at one point in the trading session. the dow hitting intraday high. we're not there yet. dow is up 78 points. watching pandora as you see on the screen. this stock under pressure. subscribe are revenue all good. they lowered their full-year forecast. watch pandora. the stock is down 32%. apple, after the bell. it is all about the iphone 8, folks. will they give us a brand new version of the iphone 8? what will they call it? will people go out and buy it, spending $1000 and putting u.s. jobs

we hear from pfizer, sprint today. it's been a good earnings season.ond one in a row of double digit growth. is this going to push a two.22,000 today? we were 109 points away. >> i'll tell you why. it looks like it as they have a hours before the market open. if you look globally right now, a great economic indicator across the globe that many are heading. lauren: global growth is looking good. manufacturing activity in the u.k. forget the u.s. numbers today. >> it unfortunately had been a little bit static compared to the growth re-signed china, u.k. and this all keeps coming back to the gridlock in washington. president trump talked a lot about wanting to see what he would do for a trade as far as u.s. companies. he is still not able to get a lot done right now. lauren: we talk about tax reform and hope for a tax refund this year would not only help can tumors feel richer, but certainly help as mrs. biggins fallout there. do you think tax reform is already in these numbers are what you think the market will express when we see a package? >> i think t

february futures indicating strong gains to kick off the month of august. 22,000 is within sight pfizers hour we'll bring you the nuns ambers reaction from wall street. >> and it was a short tour of duty for anthony scaramucci. he was pre-fired he wasn't supposed to start until august 15th. the efficiency of the administration why not do it if you know it what will happen later and t "squawk box" begins right now. >> life from new york where business never sleeps, this is "squawk box. >>> good morning welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm becky quick, along with joe kernen and andrew ross sorkin. the dow finished july with a record close look at that, up 2.54% the dow posted eight record closes in the month of july. year to date it's had 30 record closes the dow, s&p and nasdaq have their best monthly perform man since february the nasdaq up by 3.3%. the u.s. equity futures at this hour, you will see this morning things are indicated up again. the dow is indicat

pfizer ceo said he needs to see tax reform or absence of it to understand where market values are. said any focus on business investment and changing allocations is crucial blamed political gridlock why clients are cautious ralph lauren said it wouldn't buy back stock due to tax reform all items discussed but not executed this is a trend towatch for. will companies continue to wait, not because of bad policy, but because they do not know what would happen next. back to you. >>> uk chancellor and trade secretary put up a united front on brexit. joint article, said britain would be leaving the eu, would not create a back door deal to stay in the union. the two previously held different views or details surrounding a possible transition period. >>> the uk will work on a range of brexit issues when it publishes strategy papers, in response to criticism how prepared the uk negotiating team has seemed compared to eu counter parts. theresa may and colleagues return to westminster today after the summer break >>> this is for the light hearted. famous french comedy festival under way in he

merck, pfizer, multiple years. as long as bob iger is there, unless there's a huge stumble, which i haven't seen yet i know they overpaid at espn, but that's something they're keeling with with the bundles and everything else. i think they're over that hurdle most of the way, but the issue now still remains that are they are competing and streaming the right way. >> if you look at the parks number last night, it's very good the problems disney has is a b problem with the entire space. not just disney specific although obviously espn was much ballyhooed a year ago. earnings say the same thing. getting back to what dan said, my question is this. yes, they're cheap, probably relative to themselves, disney, but they still trade at a significant multiple to the space. just wondering if that's corrects >> let's get the latest on the fox earnings call where this is hot topic right now. julia in l.a. with more. >> that's right. certainly a hot topic. the call is goongoing and so fa there's been a lot of commentary from the

not down to 20% i'm not sure you are getting enough bang for the buck for companies like apple and pfizermove their operation and cash back here. >> tying the lowest rates with the greatest amount of expensing. software, telling incredibly pro growth as well. keeping things that reward innovation and allow companies to bring profits back. often we talk about wanting to leap frog into the top three most of competitive places on the planet. all those elements are critical to us. paul: many subchapter ss pay at the personal rate at 39.6%. how low does that have to go. some say it has to be parity with the corporate rate? >> i don't believe so. but i think we need to deliver an equal tax cut for our local businesses. regardless of how you are structured, whether you are a mom and pop i think we need to lower those taxes equally for all those job creators. so much of our growth is included in both side of that linger. i say drive the rates down as low as we can regardless of the type of business you are structured at. paul: it's 25 or 20 you could live with that? >> i could. that's an equal th

sure you are getting enough bang for your buck for what you need for an apple or other companies, pfizererations and cash back here. >> it's critical that we do that. tying the lowest rates with the greatest expensing, it's a zero tax rate in new investment in technology, software, incredibly good growth. all of it gets us, as we talked about often, leapfrog into the top three most competitive places on the planet for that next new job, all the elements are critical to us. >> let's talk about small business. many sub chapters, personal rate, 39.6%, not including deductions. how low does that have to go. a lot of small businesses are saying, it has to be parity with the corporate rate. does it in your view? >> i don't believe so. but i think we need to deliver an equal tax cut for our local businesses. regardless of how you are structured, whether you are a mom and pop or corporation, you need to lower the taxes equally because so many jobs, so much of our growth, is included in both sides of that ledger. drive them down as low as you can, regardless of the business you are structured at.

take a holook with the ce of the company i am a little incensed with your stock, i was looking at pfizernd bristol. a 3% yield should not protect anyone i'm trying to understand this. you have a stake in teba every day it goes down it hurts your stock can't you just dump it >> we do own a small dollar value of teba. it's about 10%, a couple billion dollars and we have several billion in cash, and we do -- when we did the deal with teba over a year ago, we were locked up for one year. the one year just expired a few days ago we've been clear from the day we took the teba position that we would not be long-term holders however, we're responsible stewards we'll sell the stock over the next few quarters in a responsible way. i'm not sure selling -- >> i have spent hours since you reported trying to figure out the valuation. most companies do not have as much in the pipe most of the drugs people have in the pipe aren't as big as yours. so it was the only thing i could come up with >> trading on the stock market valuation of teba for allergan doesn't make a lot of sense to me >> i want to talk

the company behind disney, pfizer a major player in the tech industry just think this is extremely stronge you bothering to pay attention? i think i might have been the only person. i'll investigate rapid fire in tonight's edition of "lightning round" stick with cramer! >>> tomorrow, kick off the trading day with "squawk on the street." live from post 9 at the nyse. >> this is so outrageous i'm actually using my low tone when i'm at home >> i feel like i'm about to be disciplined here did i do something wrong >> it all starts at 9:00 a.m. eastern. for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. >>> tech war once again, it's worth trying to get a handle on one of the most important trends in the technology space, big data these days they produce so much digital information, that many companies simply can't handle it they may have a

i think it forces the habd of a celgene, novartis, maybe a pfizer drug. list is somewhat long.there more to come? i say yes. >> bio pharma is on the hunt it's going to be something qulon koon kole ji, a vertex >> that's why you like xpi >> correct it has been the outperformer because that speculation is sort of embedded in i still like xpi longer term over the ivb just for takeout speculation. >> options traders are getting bullish here on the back of the deal let's check in with brian with the options action brian. >> the stock moving huk here they traded for 220. they were out there grabbing any calls over 1200. 42.5 calls traded, so people going in there buying calls, selling puts, bullish. it seems like the deal puts a price tag on what se scepter therapy is and that means that celgene may have to increase their stake there to get into the game at least in support a group like juno, who doesn't have any other drugs in the pipeline besides the t cell research going on looks like it's going to come to fruition it's a fantastic technology. i worked on it 20 years ago. this is

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

. >> this program is brought to by pfizer it senses your every move and automatically adjusts on both sides to keep you effortlessly comfortable. and snoring.... does your bed do that? the new 360 smart bed is part of our biggest sale of the year where all beds are on sale. and right now save 50% on the labor day limited edition bed. and it's also a story mail aabout people and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business the united states postal service. priority: you it's a highly contagious disease that can be really serious... especially for my precious new grandchild. it's whooping cough. every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. welcome back. many are jumping on social media, getting a firsthand look at the flooding and the damage. here's a warning. the photos i'm about to show you is a little difficult to look at but it's a reality. this photo was taken sunday morning inside a nursing home in dickinson texa

we've heard from companies like pfizer, holding off waiting for certainty for tax reform before theyelopment decisions. if you look historically, we can see this is not out of the ordinary for august. august is the worst performing months for the ibb, over the last ten years our data team crunched the numbers and saw august down 2.2% the other bad month being october. look at that gain in july, though it looks like it's history held this year, this would have been behind september we can expect potential gains there. august, pretty bad for biotech. >> does gilead continue to break your heart >> it's bounced so much, it's not breaking any heart anymore but i have a question about the generics is that affecting the -- >> generics aren't really considered biotechs. but my lin is part of that etf they're not considered traditional biotech. gilead >> this is the name she just mentioned. people are still concerned, there's concern out there, the uncertainty, why aren't they buying my lin mi lynn mi lin my lynn my lin mi lin. >>> there was a buyer of 10,000 of the september 7468 put spreads

pfizer sales job for the third quarter in a row.ressure on the maker of viagra and lyrica to come up with a deal so it can return to growth. general electric ceo john flannery began his first week on the job. in any mail to employees, he said he met with 100 investors who requested better execution and cost cuts. flnanery, stressed operating with quote transparency and candor moving forward. shares have fallen from 19% this year. i that is your bloomberg business flash. still ahead, under armour post second quarterly loss and grow as they embark on a restructuring plan that will add onto the short-term pain. can the ceo find a way out of the company's year-long slump? this is bloomberg. ♪ vonnie: this is "bloomberg markets." let'snnie quinn great take the opportunity to look at some data. the vix calm today. we saw a little spike up but we are back around the 10 mark. single digits again. same with the dollar index, which took a leg higher. really close to that 93 mark. se, the quality to a certain extent is at the euro stronger. ev

a former whitey house traded pfizer next. this is bloomberg. ♪ ♪ this is "bloomberg markets: asia."ydney. u.s., mexico, and candidate end the first round of talks on the new nafta deal, committed to wrapping up negotiations quickly. our next guest was a white house traded pfizer and counsel to the senate finance committee. -- white house trade advisor and counsel to the senate finance committee. the first round of talks come the next round in september, is there cautious optimism coming through from that statement? >> may be with an emphasis on cautious. this first round, we heard three different versions of nafta. the canadian and mexican trade ministers saying we understand are ready to improve and modernize nafta, but nafta has been a success story. the u.s. trade representative gave a gloomy or view, saying it had fundamentally failed in the americans and needed major starkements to differences in the rhetoric, but early as you say and we have more rounds ahead of us. a sense of nohere appetite on any front, in particular the u.s. and mexico, to drag this out. to get this done b

that's going to be a big deal not just for apple for pfizer. that's out there.. right at tv now. you've got radio, you've got tv. you have your morning coffee, you are on your trading floor. come over here. bonus round for your 10:00 meeting. click on the story. it comes up and you can see all the long short of the reason apple is going to die. ♪ tom: all of the distractions. washington, the major distraction. maybe brexit. chris grisanti with grisanti capital management, one destruction across equities bonds. currencies commodities. that is a weak u.s. dollar. showed this earlier. if i was to teach a course on moving average dynamics this is to die for. seen't think i have ever currency trend like dollars trending right now. absolutely textbook. what does a weak dollar mean for you? >> i think it's good. we've got multinationals like apple and pfizer that are just going to reap the benefits of this. they are saying it's not on purpose but clearly this helps the trade agenda of the trump administration. we are looking for this to continue into the fall. if

you're seeing positive reaction for pfizer the m.o. pointing out maybe investors are shipping over into pfizer shares has more of a defensive play from teva as it gets hit so hard and cuts its dividend and you may notice we're in front of the brooklyn courthouse awaiting the martin shkreli verdict, he, of course, famous for raising the price of a generic drug, not what he's on trial for. we'll bring you news as soon as we get it here. >> back to you obviously, as needed before the show started, piper cut teva to astreet low $23, s they see some more potential downside. >> a quarter of their market. >> wow. >> time for a cnbc news update with sue herera. >> hi, scott hi, kelly. here's what's happening at this hour heavy rain from a typhoon triggering flash flooding in parts of china provinces in northern and eastern china were hit the worst with rising water trapping people and washing out roads and decimating drops. >> oscar pistorius in prison for killing his girlfriend was taken to the hospital today. a prison spokesman did not provi

and i reference the pfizer ceo, almost saying we could do m&a but we're delaying it until we have a bit more clarity on tax and health care. and i think that makes sense >> and who could blame him obviously. and finally, i want to talk to you about valuations because we see the dow going from record high to record high, s&p also this week hitting another record high valuations are quite elevated. we've heard that throughout the last couple months yet we still see the markets going higher what is interesting though and you point this out in notes is that earnings beats have not been rewarded to the same extent that they have been in the past. and we see that earnings misses are being punished quite severely is this another sign of people getting a bit fatigued with valuations >> yeah, i think the valuation fatigue is probably the best way to put it. marke markets are on the expectations of the earnings coming through and so far i'd say we're on track. so again back to the point we are looking at double digit earnings growth in europe and the u.s. this year so the backdrop is still suppor

we spoke to a statistician for pfizer who has been in the country for more than 20 years. >> i would not have been able to apply because my english was poor. >> this would also cut the number of refugees admitted each year from 110,000, to just 50,000. san francisco mayor ed lee says this undermines the countless contributions of immigrant communities and ignores the values that define our nation. and the oakland mayor libby schaaf had this to say "immigrants make america great" ." >> this issue has gone nowhere in washington for years one of the reasons is you have -- both sides seem to be getting something out of it. business gifts cheap labor. and we have the democrats and immigration advocates that want people to keep coming in. >> if you look at chuck schumer or bernie sanders -- >> they were in favor of limiting immigration because they had the same fear a lot of people do. that it the precious -- that it depresses wages and makes it harder for people to compete. but there is a new perspective these days. but you are right. they come together. >> and we will be talking about th

pfizer's at the top. we're back in two. your brain is an amazing thing.u get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. >>> all right. we've set the na garians over to the telustrator. doc, you're up first on the heels of this winner in tesla. what have you got now? >> yesterday i talked about marriott, judge, not only because i'm a lifetime platinum there, but huge up side out of this stock and one of the reasons for it is even with airbnb and all of these other acronyms that compete against these guys, they are killing it. today i'm talking about wyndham. beginning of the year, 75, 76 bucks. now it's 104 this morning at about -- an hour and a half ago they came scrambling in buying september 105 calls. stock was trading at about $103.55 or there

in a statement pfizer said patients are at the heart of its daily work and it's happy it could quickly resolve the issue. if you have a consumer complaint call us 888-996-tips or online at nbcbayarea.com/responds. >>> chris, thank you. listen up, dodgeball fans. espnu will be the ocho for a day. a true underdog story. you are looking at clips from the film. espn picked today because it is august 8th, the 8th day of the 8th month. espnu will be airing unconventional sporting events today that includes ultimate trampoline dodgeball, arm wrestling, and darts. >>> 27 right now. up next on "today in the bay," the case of a woman reportedly abducted out of oakland. >>> plus, a fiscal emergency. an east bay town steps to dig the community out after financial hole. >>> a home burst into flames here in the east bay. the factors that will play into the investigation into the cause. get 40% off on coit residential cleaning services including carpet and hardwood, tile, stone, even air ducts and window treatments. and your satisfaction is 100% guaranteed or your money back. that's 40% off everythin

all my kids of pfizer's stuff is gone everything is gone. >> we have to recognize there is going to be new normal. a new and different normal for this entire region. but we will not stop until we get as far as we can. >> under these tough conditions here now, the race is on to save as many people as possible, as the water continues to rise. the same people, like the 33-year-old mother of three we spoke to earlier today. she has no electric power. she's going up to the second floor with her three toddlers. each hour, she turns on her cell phone just wants to see if help is on the way. bret? back to you. >> bret: steve harrigan right outside houston. stay safe they are in the flooding. you know, the devastation and flooding in texas is huge news right now, but there is other news in other states across our country. one of them, illinois. his critics say republican governor bruce rauner has made illinois the fifth century state in the nation. those type of designations requiring -- normally trumpeted by democrats. from chicago tonight, senior comments on the mike tobin tells us what's dif

i believe pfizer and merck are his two favorite in the pharmaceutical side. was not in either one. now i'm in merck, but it is a short-term bet for me. aim he not long-term in this one. >> doc, good stuff thanks for doing business with us today we appreciate it. >> thank you >> see you back here shortly let's do our trader blitz now. smucker is tumbling on an earnings miss. joe, you've been in the name before. >> quite a bit came into the year long this name was rewarded with an earlier lift higher and had to get out of it because the performance has been lousy it's incredible it's the coffee business and pet business that is underperforming when that is what drove the appreciation higher i think we're close to a cathartic moment here. you want to look at the name to buy it. >> jimmy, what about william-sonoma stock's at 4%. >> i think instead of looking at the name you have to look at the sector what's the sector? it's anything with mall exposure or mall-like exposure. you're seeing a bounce back of nims including wi8 yams sonoma if you want to take a positi

go talk to the guys in amgen and pfizer.y're dealing stuff -- percocet, all that highly addictive xanax. that stuff will mess up your life. this won't. lemonis: in desert hot springs, they seem to agree and have issued permits for more than 3 million square feet of construction to more than 30 growers. good for business, but i wondered if the town's reputation would be hurt. are you originally from this town? scott: born and raised. lemonis: scott matas is the mayor of desert hot springs, a self-described conservative. scott: i was a "no" on marijuana use in our community in 2007. lemonis: what happened? scott: the economy went bad. we needed to find another revenue. lemonis: when they put it to a vote, more than 70% of the residents here said "yes" to growing recreational pot. mayor matas doesn't smoke, but the side effects of weed are saving his town. job creation? scott: job creation -- it's taxation... lemonis: think about this. it costs $15 million a year to run desert hot springs. the town could eventually collect $50

they still get one off and the business leaders are tired of ford versus gm, boeing versus lockheed, pfizer versus merck or russia versus china, canada versus mexico, whatever he does, they used to work in the schoolyard for him seems to still be working for first six months, it's backfiring now. >> what could it cost them? president trump is no stranger to spite. you mentioned ken frazier, singled him out as a hero here. when i think of a guy like jamie diamond, who between deregulation, getting rid of dodd frank tax cuts, the president trump's pro business agenda could benefit a guy like jamie diamond to the tune of billions. could president trump now punish these guys? you know he's embarrassed. >> yeah. he's absolutely humiliated. this is -- his identity was draped around these business leaders as the first ceo to be commander in chief-this has really stripped that from him. losing those big names, yeah, you did see him selectively pushing accounts, people that favored him and you could see in aerospace and pharma and other businesses they were upset and felt they all needed to be there

fourth quarter and in the second quarter, this most recent one, david teppler eliminated teva and pfizerm his portfolio and exited stakes in pharma and biotech companies it held including bristol-myers and shyer. banks were unloved by hedge funds during the second quarter. sold out of goldman sachs as did moore capital which slashed its stake in "b" of "a." third point absolved its stake in jp morgan berkshire hathaway disclosed a new stake in synchrony financial which sent the shares higher in aftermarket trading. he also sold out of ge during the quarter. we saw a lot of hedge funds take some money off the table if f.a.n.g.s especially ammazon tiger management and tiger holdings pared back their holdings only one hedge fund we tracked took a step in blue apron, jana, the same firm pushing whole foods to sell the deal to amazon, same deal blamed for destroying blue apron's ipo. then there was snap, appaloosa, moore capital, all completely sold out of snap during the quarter. melissa. >> thank you very much, leslie picker at headquarters karen, who do you lists en to t most if you list b