now, to pfizer and allergan.unced a $160 billion deal last week, that would be the biggest drug company. most of the deal allows on in version structure, allowing them to take advantage of lower tax rates in ireland. joining me now to discuss is beth seidenberg. you are also a doctor, you have founded multiple companies, been ceo of companies and then went into this. this is your wheelhouse. what do you make of this deal? beth: thank you for having me, great to see you. this is an interesting deal. there are economic drivers around the taxes and the ability to have a domicile in ireland. there are synergies with the portfolio. what is exciting is that this is a contrarian view. there are a lot of things that come out of a large merger. what we need with biotech, we need innovation. we need great people and we need product. and when you have an acquisition like this, there will be a few layoffs. the good news is with biotech, those are potential next-generation ceo's. those are people who can go into the growth st

pfizer allergan. >> it is the biggest drug deal ever.value is almost on par with ireland's gdp. there's a lot of things to like with the steal. the biggest is the tax savings that pfizer is going to get. set up itsps pfizer established products business for a spin off. there are some question marks. there aren't as many operational synergies. overall this is a good deal. betty: anheuser-busch and sab miller. >> it's hard to say that this is a bad deal. it is beer and it is huge. anheuser-busch didn't have a lot of options and sab miller was the biggest most logical move. when you look at the combined company, it's not necessarily growing that fast. it is sort of a vicious cycle where you keep buying and you are not really growing that much. that's going to be a wait and see. betty: and finally shell bg group. >> this is a deal that makes a lot of sense strategically. it's just the timing that was a little rough. overly they had a very optimistic outlook on oil that they used to justify the price tag they are paying for bj. have comeoil p

the biggest announcement was pfizer and allergan hooking up. this is ending.$160 billion merger. will the megamerger boom continue through the new year? how do you capitalize on it as an investor? mezereau investors, joining me the company's investment banking senior advisor. bill, it is just a busy year you just had. is your head spinning? >> i think all of our heads are spinning, liz. it's been a -- i think we're all in deal fatigue at this point. liz: why was it so hot this year and do you foresee it being at least as hot or warm next year? >> liz, the reasons that the market was so good this year are several. one, we had abu comic financing environment. debt financing available on historically attractive rates. accommodating equity market which reacted postively to many if not all deals which involved equity. and finally, very, very ample private equity funds available for financing. the environment broadly speaking. the tepid economy has led to a lot of activity. companies have been starved for growth at the top line, liz. with the result they have to do

we surpassed the all-time record of 2007 a couple weeks ago after that pfizer-allergan deal.thought that was the end. that is not the end. another big deal. it will be busy through the new year. francine: thanks for all of that. incredible deal if it goes through. yahoo! is scrapping plans to sell off its stake in alibaba. marissa mayer will have to turn to other strategies to return the company to growth, including spinoff of its internet businesses. tell us more about this. nejra: this really is a turn for marissa mayer. some would say it is b admission of defeat. back in january, she talked about spinning off the stake in alibaba, a stake worth more than $30 billion. what has happened since january is that mayer has come under pressure from investors concerned about the tax risks of the deal. now, according to a person familiar with the matter, yahoo! will look into a spinoff of its main internet business. if mayer is running out of options. sales are hovering at 2006 levels. the share price tumbled this year. investors are getting impatient. what you are seeing is this u-

pfizer allergan, $160 billion.going to be talking to dupont and dow coming up, or so i'm sending it her way. liz: i bet they wish it were the day before, but the news is bringing those names down. you're right, trish, thank you. look at this, wall street headed for its worst weekly loss in a month. see this number on the dow jones industrial average? we're down 269? we've been down 310 today alone. that is making the markets choke. oil dropping below $36 a barrel, heading to $35 in the aftermarket. really? all with just five days before what is expected to be an epic interest rate decision by the federal reserve. we've got our traders lined up to tell you what you need to know heading into the final hour of trade. also weighing on the markets, that deal which creates the biggest chemical company in the world.

pfizer allergan, but they love vrx because it stayed independent!is is like a different opposite world. look at that. he's walking off. >> it's fine. everything good, david. >> we'll talk some deals and valeant next. announcer: sleep train thanks all those who helped make a difference last year for thousands of local foster kids. thank you for helping foster kids. thank you for the school supplies. thank you for the new shoes. thank you, secret santa. and thank you for donating money. announcer: your generosity proves that while not everyone can be a foster parent, anyone can help a foster child. thank you. thank you. gracias por su ayuda. [baby coos] thank you. >>> you're watching "squawk on the street," live from the financial capital of the world. day one of a two-day fed meeting today. cpi hits 2 year on year. oil managing to climb almost back to 37, jim. we're in a market that oil -- i was doing work last night. alphabet, formerly known as google, ticked up $20 when oil went up 75 cents. no correlation to anything else. i did a correlation anal

one you pick and we're going to have a drug stock and this time i'm going to say it should be pfizer-allerganhich is going to merge. and that's many my charitable trust. let's go to pete in florida. >> happy holidays mr. cramer. >> same. >> let me throw some stocks at you. alcoa, bank america, disney, and i have a small position in petrobras long-term. >> okay. all right. alcoa it's a metal's play. what do we want to call, relationship, you know what it is. mickey mouse and bank of america bank. we have bank, entertainment. i'm not going to say match is entertainment. i don't even -- let's say it's -- alcoa, and petrobras that's an oil company. i'm going to deem that too close to alcoa and you need a drug stock and this time i'm going to give you eli lily. another name doing terrific. i really like it very much. it's anti-alzheimer's formulation. let's take another. why don't we do it. john in florida, john. >> booyah dr. cramer. >> booyah, john. >> my five issues are boeing, ba pot, cracker barrel, under armor, and new residential investments, nrz. am i diversified, doctor? >> i don't like t

. >> reporter: in a pair of megamergers, drugmakers pfizer and allergan announced plans to join forces. and dow chemical agreed to merge world. chipotle stock took a tumble to restaurant chain scrambled to contain a e. coli outbreak. mark zuckerberg and his wife welcomed a baby girl and they promised to donate the bulk of their $45 billion fortune to charity. a holiday gift to remember. jill wagner, cbs news, new york. > coming up after your local ws on "cbs this morning," an effort by food companies to swap out artificial ingredients in their food. we will have the details. plus, dr. david agus has his health predictions for 2016. and a look how the holiday shopping season is shaping up as we buy our last-minute presents. that is the "cbs morning news" for this thursday. thanks for watching. have a great day.> three people are dead following three different homicide investigations in the valley. where they happened.. and what one family is saying after two of their family members were killed. ((kirsten joyce)) > plus.. expect to go through a body scanner if you're heading to the airpo

pfizer allergan, $160 billion. i know liz is going to be talking to dupont and dow coming up, or so i'm sending it her way. liz: i bet they wish it were the day before, but the news is bringing those names down. you're right, trish, thank you. look at this, wall street headed for its worst weekly loss in a month. see this number on the dow jones industrial average? we're down 269? we've been down 310 today alone. that is making the markets choke. oil dropping below $36 a barrel, heading to $35 in the aftermarket. really? all with just five days before what is expected to be an epic interest rate decision by the federal reserve. we've got our traders lined up to tell you what you need to know heading into the final hour of trade. also weighing on the markets, that deal which creates the biggest chemical company in the world. $130 billion marriage between dow chemical and dupont. in the chair we have the leaders who put this deal together. dow chemical's andrew liveris and dupont's ed green on how they plan to get th

. >> reporter: in a pair of megamergers, drugmakers pfizer and allergan announced plans to join forces and dow chemical to merge with dupont creating the second biggest chemical country in the world. chipotle stock took a tumble to contain a e. coli outbreak. mark zuckerberg and his wife welcomed a baby girl and they promised to donate the bulk of their $45 billion fortune to charity. a holiday gift to remember. jill wagner, cbs news, new york. news on "cbs this morning," an effort by food companies to swap out artificial ingredients in their food. we will have the details. plus dr. david agus has his health predictions for 2016 and a look how the holiday shopping season is shaping up as we buy our last-minute presents. for this thursday. i'm anne-marie green. catch holiday-cookie cheer on the tip of your tongue with dunkin' donuts' holiday- cookie-flavored coffees. after 12:00 p.m., enjoy any medium latte or macchiato for $1.99. america runs on dunkin'. there are over 15,000 ways to take your coffee at dunkin'. every cup as unique as you. always fresh with that signature smooth taste.

. >> reporter: in a pair of megamergers, drugmakers pfizer and allergan announced plans to join forces. and dow chemical agreed to merge with dupont, creating the second biggest chemical country in the world. chipotle stock took a tumble to restaurant chain scrambled mark zuckerberg and his wife welcomed a baby girl and they promised to donate the bulk of charity. a holiday gift to remember. >>> coming up after your local news on "cbs this morning," an effort by food companies to swap out artificial ingredients in their food. we will have the details. health predictions for 2016. we buy our last-minute presents. that is the "cbs morning news" for this thursday. thanks for watching. have a great day. >> you are watching kcci eight news. shaina: warm december weather gives way to snow and a couple of days before christmas. the effects you can expect. >> i told myself this is the best christmas gift i can get. shaina: sent to oklahoma to recover after a brutal crime. why his family has now returned mike wasike to iowa. e-mails and facebook posts telling of a homeless veteran living in an

. >> the most advanced timepiece >> reporter: in a pair of megagargers, drugmakers pfizer and allergan announced plans to join forces. and dow chemical agreed to merge with dupont, creating the second biggest chemical country in the world. chipotle stock took a tumble to restaurant chain scrambled to contain a ecoli outbreak. mark zuckerberg and his wife welcomed a baby girl and they promised to donate the bulk of their $45 billion fortune to charity. a holiday gift to remember. jill wagner, cbs news, new york. >>> coming up after your local news on "cbs this morning," an effort by food companies to swap out artificial ingredients in their food. we will have the details. plus, dr. david agus has his health predictions for 2016. and a look how the holiday shopping season is shaping up as we buy our last-minute presents. that is the "cbs morning news" for this thursday. have a great day.

a postthanksgiving special so stick with cramer. >>> last week we learned the much-discussed allergan/pfizer merger is happening. even though i think this is a of new drugs along with a lower irish corporate tax rate, the market initially seemed pretty sceptical. allergan stock selling off as investors wonder what's in this for them, since then it rebounded but questions how this transaction will reward the company's shareholders given that allergan has so much going for it on its own. stock got hammered down 6 bucks. we got to remember thank allergan ceo, brent saunders, a tremendous job creating value and wouldn't have agreed to do this deal if he didn't think it was a good one. let's go straight to the source and check in with brent saunders, the bank president and ceo of allergan to get a look k what the his companyny future oks like after being bought by pfizer or merging with pfizer, depending how you eeel. welcome back to "mad money." >> thanks for having me. >> have a seat. i have to tell you, tremendous respect for what you put together, mostly because you made a fortune for people.

already has a very sophisticated terror alert system. [ laughter ] [ applause ] drug makers pfizer and allergan today announced a $160 billion merger. it's the largest pharmaceutical merger since the one that takes place everyday in keith richards' stomach. "are you merging? stop merging." that's right. pfizer is the maker of viagra and allergan, the maker of botox, are going to merge. and soon people are going to be able to get the youngest-looking erection. [ laughter ] [ applause ] just, no wrinkles. many are speculating that peyton manning's career may be likely over after manning was benched in favor of quarterback brock osweiler. not only that, but papa john was spotted hanging out with cam newton. [ laughter ] i just want to make sure you and i also have no on-screen chemistry. [ laughter ] miley cyrus last week performed in chicago while wearing a purple wig, moon boots, prosthetic breasts, and a large dildo. or as she calls it, casual [ laughter ] a new study has found that specially-trained pigeons can have up to an 85% accuracy rate of detecting breast cancer in humans, which means t

kenneth frazier says pfizer allergan deal signals the challenge is to stay competitive globally. >> thex system is not competitive in a global sense. we have to come up with a tax system that allows u.s. companies to be in competition globally for talent, investors, ip assets and everything that makes this industry run. i think that deal should be something that serves notice to policymakers that good american companies feel no choice what to do things like tax inversions to remain competitive globally. alix: all seven major british banks have passed boe stress .ests two of the banks, standard chartered and royal bank of scotland fell short in at least one requirement. the commodities route continues to pose risks. the ceo of a de anza says prices are not at the bottom but there are factors that are emerging that make metals attractive to investors. >> everyone expecting interest rates to go up. the dollar is strong. chinese slowdown some oversupply and the uncertainty about when rates will go up and what will that mean to the u.s. dollar and his u.s. dollar of that are investment vehic

in a pair of mega mergers, drug makers pfizer and allergan announced plans to join forces. and dow chemical agreed to merge with dupont, creating the second biggest chemical company in the world. --chipotle's stock took a tumble.. the restaurant chain scrambled outbreak.and then a bout of norovirus that sickened over a hundred students in boston. nats zuckerberg video facebook ceo mark zuckerberg and his wife priscilla chan welcomed a baby girl. and they promised to donate the bulk of their 45-billion dollar fortune to charity... a holiday gift to remember. jw, cbs news, new york paul joncich > that's all for us at 4. denise valdez 8 news now at five starts after this. don't forget.. we're always on at las vegas now dot com, on facebook and moments of the deadly strip crash: ((antonio nassar: "it wasn't until i heard what are you doing what are you doing to process and clicked for me man this is valdez)) witnesses recall what

we end the year, the performance of the stock prices, dow, dupont, noounoou newell, starwood, pfizer, allerganf them have performed as well as deals announced in the summer months or previous. that always gave confidence to ceos who were looking to doing a deal. that said, i continue to hear there's a great deal of activity. whether there's anything put up before the end of the year, but it don't appear to be abating at this point. >> my travel trust owns starwood, i believe starwood would be higher if it were not for the deal. they gave up. the reit -- look, airbnb is cutting into the business. airbnb is a disruptor for certain. >> no doubt. >> have you used it. >> i have not used it. >> no? >> no. >> we've used it. >> yeah. >> looked at it, not used the services. >> it's very attractive. versus a hotel room. >> caterpillar up more than 2%. what -- are we get nothing some weird year-end season? >> stimulus, stimulus, stimulus. always some guy who says it will be stimulus, you have to get into caterpillar. stock is inexpensive if there's stimulus. i think that whole story -- that's one of the

for massive corporate mergers, which include the $150 billion merger of pharmaceutical giants pfizer and allergan, the $106 billion merger of beer companies anheuser-busch and sabmiller, and the $55 billion merger between telecommunications giants charter communications and time warner cable. in canada, three activists have been arrested after they forced pipeline giant enbridge to shut down one of its major oil pipelines by locking themselves to equipment at a valve site on monday. the pipeline transports more than 12 million gallons of alberta tar sands and bakken crude oil to refineries in the east coast every day. the pipeline has long been opposed by first nations and environmental activists, who are concerned about spills and the impact of continued fossil fuel extraction on climate change. in burkina faso, authorities have charged a general with complicity in the assassination of president thomas sankara nearly three decades ago. dubbed "africa's che guevara," sankara was killed in a military coup in general gilbert diendere 1987. has now become the most senior official charged in sankara'

. >> pfizer allergan the biggest, $160 billion. it has been a year of big deals. >> heading to the close, 35 minutes left in the trading session here and we continue lower, to the lows of the session with the dow down now 341 points, a decline of almost 2%, but the s&p and especially the nasdaq are down more than 2% right now. >> it is a strongly down day, a down week, worst week in a month for all three major indices. >> up next, why you need to be pang attention to two global currencies hitting lows against the dollar. >> is it perhaps time to sell the so-called fang stocks? that would be facebook, amazon, netflix and google which now is known as alphabet so i guess now it's fa. anyway, two wall street strategists will debate it coming up on the "closing bell." the challenges of keeping everyone working together can quickly become the only thing you think about. that's where at&t can help. at&t has the tools and the network you need, to make working as one easier than ever. virtually anywhere. leaving you free to focus on what ma

want to go into a place and i've been talking about the name since the deal was announced, pfizer and allergan. i think the stock works, no matter whether that deal happens or not. i know there is concern about the inversion. its is a cheap stock. >> i think the deals pickup big time. i think that will save the space. and the m&a could happen as early as january and that will save biotech in my opinion. >> what is interesting is that health care is the second largest sector waiting in the small cap russel 2,000 index which could tell the real story about where the markets overall are headed. carter worth is breaking it down with us at the smart board and nifty pen as well. carter? show us the charts. >> here is the board. right. i think the issue is this -- it is almost a foregone conclusion you get a year end rally. it is like a birth right in america. that is just not the case. i want to set this up with this. here is the russell 2,000. this is not random. we are here. and we even slipped from this. but this is what we've done over one year and 11 months. no results. and if you look at it as

of course, pfizer-allergan, and this goes down in record books. maria: thank you. day every day on the fox business network, she gives us the first look at the markets. and the hunger games are over, and cheryl casone has the headlines. cheryl: lions gate is looking at taking the story backward before katniss was assigned to the combat competition. >> whenever they're contained, they're meant to kill you. >> ladies and gentlemen, welcome to the 76th hunger games. cheryl: lions gate vice-chairman saying that the hunger games franchise will quote, live on and on. sad news coming out of the business world this morning. the co-founder of the north face's spree clothing companies died unexpectedly. dougl douglas thompson died in a kayaking accident in chile, he was only 72 years old and vital and going. >> condolences to the family. and terrorist charter on a platform, ted poe will join us next. opinions. there's no shortage in this world. who do you trust? whose analysis is accurate? how do you make sense of it all? a simple, unbiased stock score consolidated from the

the biggest deals were pfizer's merger with allergan and ab inbev's tie-in with sab miller. ,laren road management majority-owned by carlyle group, suffered $950 million in withdrawal requests. es assets 85% below their peak last year. china has doubled the hours for offshore yuan trading until 11:30 p.m. beijing time according to a statement on the people's bank of china website. that is your bloomberg first word news, guy. guy: thank you very much indeed. more disappointing news for george osborne. caroline hyde has the details. caroline: we think they are undershooting what analysts have expected and revising down growth for the second quarter. looking at where we are for quarter on quarter growth for the united kingdom, 0.4%. it was estimated 0.5%. there seem to be headlines coming out that the second quarter has been revised down to 0.5% growth. it seems to be the services area showing weakness across the board. we are seeing services month on month growth of just 0.1%. the expectation had been for double that. there are concerns about the spelling nature of the services. the pound

this deal gets down and 18-24 months, but that point is a good one, kelly, and the fact is pfizer and allerganing the same thing. 2018 could be the time we see them traded publicly and separately. never seen this at all, but the idea they go in with the plan ahead of time is interesting, and, perhaps, we'll suede fears on investors to worry about dislocations that happen when you have a huge deal with this and not one side is clearly in charge. >> is it emblematic of how tough it is to grow globally? they even cite, right, the tough global economic conditions in ag and emerging markets, and that we've had such an incredible year of m&a, like, what, david, four and a third trillion dollars? this is, as i said, the cherry and the whipped cream on top of an incredible year. it's hard to grow. it's hard to grow organically given where the world is. >> right. it is. that's been the theme. that is always the theme, by the way, in any m&a market, of course, that you'll hear from bankers in getting top line growth, doing everything you can, shrunk your account for buy backs, but mergers are the best w

. >>> inside allergan's multibillion dollar deal with pfizer to see if you should be buying the drug juggernaut. >>> and why an nfl team tells you all you need to know about the current state of american manufacturing. stay with cramer. hey buddy, let's get these dayquil liquid gels and go. but these liquid gels are new. mucinex fast max. it's the same difference. these are multi-symptom. well so are these. this one is max strength and fights mucus. that one doesn't. uh...think fast! you dropped something. oh...i'll put it back on the shelf... new from mucinex fast max. the only cold and flu liquid gel that's max-strength and fights mucus. start the relief. ditch the misery. let's end this. dave's been working on his game, and starting each day with a delicious bowl of heart healthy kellogg's raisin bran. sweet! tastes like winning. how would you know what winning tastes like? invest in your heart health, with kellogg's raisin bran. no crying today... americans. we try to live healthy. but many of us don't know there are nutrients that can help support our metabolism. take new one a

." -- in a pair of mega mergers, drug makers pfizer and allergan announced plans to join forces. and dow chemical agreed to merge with dupont, creating the second biggest chemical company in the world.-- chipotle's stock took a tumble.. the restaurant chain scrambled to contain an e-coli outbreakand then a bout of norovirus that sickened over a hundred students in boston. nats zuckerberg video facebook ceo mark zuckerberg and his wife priscilla chan welcomed a baby girl. and they promised to donate the bulk of their 45-billion dollar fortune to charity... a holiday gift to remember. jw, cbs news, new york 3 3 an actor in 3 3 new yorkjw, cbs news, new york3 3 3 an actor in new york... cast as a singing santa... found himself in a frightening real life medical drama. we'll show you why the rosy cheeks that helped him land potentially dangerous condition. it's (time) this morning. thanks for watching siouxland news at 3 here's your new year forecast.3 3 good morning, (sioux city)... it's (21) outside at (time)... as we take a look from our (jc roofing and insulating) 3 a new york ac

not just cost to capital. >> companies like allergan and pfizer with strong credit are fine.l us what's in the pipeline and once you're the largest pharmaceutical company in the world. >> we have a lot of exciting pipelines, the ones in oncology, particularly amino oncology, we're looking at products that could be game changing for people specifically with cancer over time. maria: where is the cancer. >> looking at tough to treat cancers. >> melanoma. >> they're looking across the board, close to a dozen different areas and really, some hard to treat ones. we have some game changing r & d in depression where there hasn't been any new modalities or ways of treating depression. we have some new one and a new treatment in 30 years. we have new areas in our aesthetic portfolio as well. you know, it's an exciting time. our portfolio combined is 100 mid to late stage programs. >> that creepy guy got charged with fraud and-- >> yeah, he got arrested this morning. >> how do you feel about people that do that kind of stuff? >> and shareholders or-- >> there are always bad actors and p

he has had his hand in the controversial merger of pfizer and allergan. joining us is ken moelis.lcome to post 9. >> thanks. >> good to have you here. we will get into all of that in just a moment. the federal reserve embarking perhaps on increasing interest rates, stocks had a horrible session today. what do you think is really going on here? >> well, i think the fact that we are all sitting here waiting to see what the federal reserve will do just shows how central planned the whole economy -- the whole market has become as if we're waiting for a central planner to fix our economy. the fact is the economy is operating on its own and its really operating in a new world that i think is being very difficult to understand by a lot of people. >> interest rates we mentioned this again they moved up today, the ten year is back above 2.3%. you've been saying you actually think they will be low, stay low, maybe even more lower. do you still feel that way? >> i actually think we are in a deflationary world but a deflationary world that should not scare people. the fact is if you polled mo

the united states where you start to see deals getting harrier, more mon on my, and look at pfizer and allerganthe biggest deal, $160 billion. that would have been huge value destructive if it wasn't a giant tax loophole as an in version, as it were. you could go to big deals, sab miller, there won't be another one like that, certainly not in the beer industry. and it is looking difficult. and the other thing i look at it you look at the shareholder responses of the acquiring companies. so when the companies make the announcement, look at the stock price reaction. over the last eight quarters up until the last two quarters, it had been very positive. over 50% the stock went up. it is about 35%, 36% this quarter and about 35% last quarter. that tells you that investor spirits are not quite as robust as they were before. and eventually that will trickle up as it were to boardrooms. they are just not going to be as adventurous. >> then enthusiasm not as great. and you said quarterly reporting will get a major rethink. >> you've heard people like larry flynt at black rock or hillary clinton and peo

care transaction and second biggest on record was announced last month that was pfizer's $150 billion merger with allergan. nicole: sabmiller with anheuser-busch inbev. certainly was a busy one. money keeps pouring in for uber-technologies. sources say the hailing cab company has raised $2.1 billion in its latest round of funding that could value it as high as $64 billion. lead investors said to include tiger global capital management and t. rowe price. the latest round will allow uber to push into china and other asian markets as well. cheryl: lifts getting into the game. here are today's headlines in today's edition of "wall street journal." the first one avon in talks to sell their north american business. another one, jury convicts former massey ceo, big news. puny vision poe posed its ipo. cited lackluster media performance in media stocks expected in 2015, nicole. a lot of folks are disappointed they can't get to that one. nicole: california governor jerry brown seeking to reassure his state's residents. >> when it comes to people engage in these kind of vicious, brutal acts we'll spare nothing in b

let's look at a big deal, pfizer buying allergan. they had 129,000 people. they trimmed it.ivested a couple of his missed units. there were definitely job losses. i will temper it. when you lay off a lab of scientists, they usually go somewhere else or start their own company. biotech has had a lot of ipo went away,cause labs and they said we could get angel investors and start our own company. stephanie: those losses can be backfilled with entrepreneurship. industries, given oil prices, have gone away and there are no other jobs for those people in the cities that they live in? >> that is true. health care is my industry, but they can move over to other sectors. energy is not that big of an employer. the oil sector is maybe 2% of total employment. it has a bigger multiplier on the economy because it is wider used, but it is not as big as the health care sector. retail is very important. what will continue to try the recovery is personal consumption and housing. those are the two sectors that .ave been relatively weak as job growth and income growth continues, that will supp

pfizer in preliminary discussions with allergan, 115, $120 billion plus deal. thoughts?>> it's amazing what the "wall street journal" will do to fill a room. what can i say? no comment. we have an official position that we don't comment on speculation on potential m&a deals. >> if you don't mind. i'm not picking your pocket. >> we don't need this on anymore? >> no. without commenting on the specifics, you've been pretty vocal and pretty clear with your investors about what you feel about consolidation. what's your view, why should pfizer, obviously a big company already, what's the value in getting bigger from here? >> we've laid out i think in discussions with our investors that we have various future scenarios. one is to continue to look for organic growth. our in-line products are doing well. we have a number of really exciting new launches. that's why we had a really good quarter, with growth from emerging markets. so i always look at bd not only as a strategy but a way of facilitating strategies and accelerating, if possible, return to shareholders. we have a balanc

bottom line, look at teva pharmaceuticals or allergan being acquired by pfizer one may say those areat have been disproportionately technically impacted in the short term. liz: look, you have daniel lobe. he is about flat but then you have other names that are not looking good. einhorn is down, about, 20%. bill ackman as you mentioned it is trouble. but you're talking about guys who took chances on specific stocks and piled a whole lot of money in them. >> correct. the federal reserve meeting what is your advice on how the quarter comes to a close. >> we think structured credit. colatealizeed loan obligations. liz: those sound scary to those watching. >> if you believe the housing market is doing relatively well. commercial real estate market does relatively well unless we have recession. you believe most of the pain in high yield and credit is caused by oil sector, all of those options should perform well with good cash flow and some price appreciation potential as long as u.s. economy avoids recession. liz: november jobs report comes out friday. jobs report always tends to gyrate m

. >> when pfizer merges with allergan going to pay 14%, okay, because that is they are are in irelande let me ask you about k fortune magazine cease calling you fastest growing company of 20 is a where does growth come from in 2016. >> within of the reasons for acquisition we chose fiscal year year ending june 30, 2015, for a time for us to do acquisitions, 3 years ago started to put efforts into business development looking for acquisitions, we met a few people, did a lot of due diligence most tell you look at a lot of companies before you focus and settle on one closing transaction taxi doing as well, so we are able able to focus on it this year we did one called tuck-in, 13 man and a woman revenue company now when we close transaction june 1 fillerx kraimers in the works -- we head over heels to try to close that. growing company makes you less vulnerable as a company, because the market you know is conattracting the customer base find acquisitions merges going on, at the retailers, and the other end manufacturers you have a lot of consolidation there, because heavy competition. >>

the health care bull market is still in its first infancy and we're even seeing that with the allergan-pfizerizer is giving a 3% yield in this low interest environment can i be the outlier, there's like some kind of sword of damaclese will destroy this. it's going to be a positive thing in the middle of december when fed raises rates. here is why. basically, what the fed is doing is taking the training wheels off of this economy and basically saying, now what? we think this economy can move forward without the record low interest rates. seven years at zero. one other point, you were mentioning the question whether or not the fed would then have to cut rates next year. and the fed can't cut rates next year if they don't raise them now because they can't go below zero. >> opec agreed to oil absent policy rollover. oil-- >> that's expected by venezuela and other countries that they wouldn't do anything at this point. in part because they're concerned about the iran output. maria: a 2% rally going into the opec meeting, oil was up close to 42 now we're down close to 40 again. >> for the market, r

company now, of course -- allergan then actually bought by the old activists, now called allergan and now merging with pfizer. valeant stock price one of the worst performers this year, though it has come back a bit. down this morning. there are some questions about if he is incapacitated for a long period of time, what will that mean for the company. is there a potential where you would see them move into a different mode in terms of taking apparent the company? that's all speculation at this point. severe pneumonia, that's all they're saying citing privacy being requested by mr. pearson and his family. >> another mover is alphabet. they got the barron's cover, the company formerly called google, a positive report on alphabet saying shares could rise 30% to 1,000. they cited the growth of youtube, strong numbers like the new-found cash return under the new cfo, ruth porat. they said facebook could pose a threat to youtube as the video platform gets more users. a positive story helping shares out a bit today. >> let's mention fitbit. fitbit one of the big gainers. i was looking for a reason why fitbit might