full coverage of pharma. go to bloomberg.com/pharma. coming up, the e.u.'te to its own signature law has one big company taking a bet on europe. next. >> you're watching bloomberg west. let's begin with a check of your first word news. likely republican presidential nominee donald trump was the featured speaker at the western conservative summit in denver, colorado. he discussed what the u.s. supreme court would like like if he wins in november. >> we're gonna appoint supreme court justices who you're going to be very happy with. [cheering] >> such a big thing. and these are justices that will uphold the constitution of the united states and fully uphold it. >> as for potential vice presidential candidates, indiana governor mike pence is expected to meet with mr. trump over the holiday week. the associated press says trump is also considering newt gingrich and chris christie. there's an air war going on in the u.s. presidential campaign. right now it's one-sided. over a 12-day period in june, hillary clinton spent roughly 500,000 a day on television commerc

for full coverage of pharma, visit farm ago on the bloomberg -- pharma go on the bloomberg terminal ofberg.com at bloomberg.com/pharma. ♪ mark: i am mark crumpton. mark carney says the bank of england will probably have to you guy's be good. i'll see you later [ bark ] [ bark ] bye. see ya pal. ever wonder what your pets do when you leave home? [ laughing ] aw you cutie pie. aw. aw. aw. aw. [ barking ] [ washing machine running ] party's on! know what your pets are up to with xfinity home. xfinity. the future of awesome. see the secret life of pets, in theaters july 8th. by switching to xfinity x1. rio olympic games show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra. i'm getting ready. are you? x1 will change the way you experience nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1. >> korea leads the way in this region as asia-pacific shares had for their biggest game since april, and they are edging close to where they started before last thursday's vote. china

coverage of pharma. bloomberg.com/pharma. coming up, the e.u.'ate to has onesignature law on company taking a bet europe. next. you guy's be good. i'll see you later [ bark ] [ bark ] bye. see ya pal. ever wonder what your pets do when you leave home? [ laughing ] aw you cutie pie. aw. aw. aw. aw. [ barking ] [ washing machine running ] party's on! know what your pets are up to with xfinity home. xfinity. the future of awesome. see the secret life of pets, in theaters july 8th. >> you're watching bloomberg west. let's begin with a check of your news.word likely republican presidential nominee donald trump was the western speaker at the conservative summit in denver, colorado. he discussed what the u.s. would like like if he wins in november. >> we're gonna appoint supreme justices who you're going to be very happy with. [cheering] >> such a big thing. willhese are justices that uphold the constitution of the united states and fully uphold it. >> as for potential vice presidential candidates, indiana governor mike pence is expected meet with mr. t

use, itth care etf you is all 50% pharma. people looking to play pharma, most people are probably happy with 50% exposure. but there are some etf that drill down and just give you pharma. scarlet: where are the opportunities are nowscarlet:? eric: the one the most people are using, pgp, powershares dynamic pharmaceuticals. down 9% this is year, but up 160% in the past five years. performingest 10-year etf of all of them. here's why. it is recently outperforming other pharma by about 40% in the last five years because it has biotech. biotech.adds 30% it is not necessarily the smart beta design inside of it. just the fact that it is liberal and let's biotech in. it is a rocket booster. so you got to look at these ats and look at the subsectors. etf's and look at the subsectors. having said all that, when you talk about pharma, the drug spades, is it a growth play for a value play or a safety play? eric: a little bit of both good and some people go their defensive or the yields or some people think it is a growth. if you look at

cory: you can find more of our pharma coverage on the bloomberg at pharma .oomberg.com/pharma. coming up, the man opening movie theaters to millennials. we will head to the city of angels for that conversation. and pinterest gets serious about shopping. we will speak to the company's president about a new range of products. this is bloomberg. ♪ cory: from the fall of blockbuster to the rise of netflix, the business of hollywood has seen a tumultuous couple of decades. our next guest has been involved in nearly every twist and turn. he invested in a rental chain cofounded netflix with reed randolph'sand mark in the 1990's, and then went on to found a red box in he has 1995. turned his attention to movie theaters with another startup looking to disrupt the movie theater business called movie pass. it is a $30 a month all you can watch subscription service to go to the movies. we have the author of magic. emily: first of all, movie theater attendance is down. fewer people are going to the movies, let alone, you know multiple movies every single , month. why do t

cory: you can find more of our pharma coverage on the bloomberg at pharma ., the man opening movie theaters to millennials. we will head to the city of angels for that conversation. terest gets serious about shopping. this is bloomberg. ♪ cory: from the fall of blockbuster to the rise of netflix, hollywood would seem tumultuous. our next guest has been involved in nearly every twist and turn. he cofounded netflix with reed hastings and marc randolph, and then went on to found red box. he has turned his attention to movie theaters with another startup looking to disrupt the movie theater business called movie pass. it is a $30 a month all you can watch inception service to go to the movies. emily: first of all, movie theater attendance is down. fewer people are going to the movies, let alone multiple movies every single month. why do think this is a good business? mitch: seeing movies in a movie theater is absolutely the best way to see it. i have been a fan of movies all my life, and in fact that is why i love this business. the experience of going to the mov

shery: does big pharma have prescription for brexit side effects?t is all ahead on "bloomberg best." ♪ shery: hello, and welcome. i am shery ahn. this is bluebird best -- "bloomberg best," your weekly analysis of interviews from bloomberg television around the world. this week has been all about adjusting last thursday's u.k. vote to leave the european union. on monday, the market moved in uncertainty, and nowhere else things uncertain than in britain, with the leadership was thrown into chaos. it is interesting what the next step will be, because logically the next step would be for the u.k. to trigger article 50 and excellence start those negotiations on leaving the eu. actually, other governments in europe are not expecting david cameron to do that when he needs other eu leaders on a meeting and tuesday. what he wants is some kind of plan for what happens next. this is understandable. the will of the voters is to be respected. i don't see this where it is essentially the calamity that many are saying it will be. the parliamentary labour party, wi

this week, bloomberg presented a focus on a farm a -- on pharma.s has made at the mission of his foundation to use modern medicine to wipe out the disease from the poor the world. he sat down with erik schatzker in boston. bill: vaccines have still been the tool that say the most lives. even today, inventing new vaccines for hiv, malaria, tb, a number of these diseases that are still out literally killing millions of people, that's a top priority for us. erik: and other areas like gene therapies, for example, or gene editing, how much promise do you think they have relative to the perhaps easier work -- i hate to say it that way -- that can be done in vaccine development? bill: gene editing is such a basic tool, and it's going to pervade all the work in the biological sciences. i mean, those tools, even for diagnosis, doing gene knockouts to understand disease models, you really can't understate what a great set of tools they are. for ourect sense foundation season, we see them in our plant and animal work, because it will speed up better plants, a

pharma, people have recognized this problem for a long time.ere is zero incentive for anybody to build a medical countermeasure against anthrax due to bioterrorism, make sure that somebody understood how to work with pharma and make sure we had excellent product that are now available to us against things like anthrax. we have enough smallpox vaccine in the united states if somebody decides to make it in a lab. we do have some mechanisms that are available to us, but you're right. it's a challenge. drug resistant antimicrobes. thank you. >> another question. >> i guess you have addressed the biological threat issue just now. i was going to ask you about that and i would like to thank you for really an exciting journey you took us on this morning. the book is available for you to purchase. >> thank you. >> terrific, thank you. [inaudible conversations] >> book tv recently visited capitol hill to ask members of congress what they're reading this summer. >> i am reading a book by president jimmy carter, his autobiography, it's called a full life.

we are more focused on the pharma, biotech, and med spaces. we think there is lots of traction in these areas. --re is a lot of and and a there is a lot of m & stephen: a activity in those areas. within pharma and med, it is looking healthy. >> what about domestic versus nondomestic? any thoughts on how much they are allocating to the u.s. versus non-us? i continue to believe the u.s. is the best house in the neighborhood. a lot of the companies that we own have significant business overseas. the big cap multinationals, for example, some have 60, 70% global exposure. we are getting our global exposure through a lot of those brands. david: we talked with julie hyman moments ago about intel results. at the tech space, what attracts you now? lew: there are so many great growth trends within tech. that is the one thing that sedative -- that sentiment can move positively and negatively, but at the end of the day, the growth acts as a tailwind for the company's growth prospects. we are still very bullish within the tech sector. myi'm going to jump i

pharma bro martin shkreli, one of the most hated guys in america back in court, charged with fraud.he judge setting a trial date for the embattled entrepreneur, mark it on your calendars, june 26, 2017, he gained infamy for jacking up the price of an aids drug by 5000% overnight and separately got busted for securities fraud. adam shapiro live outside the courthouse in brooklyn, new york, just spoke to martin shkreli's attorney. >> reporter: he is facing charges for securities fraud and conspiracy to commit securities fraud, and it will take pl. june 26th, 2017. 's attorney has indicated they will make a motion to sever the case, two defendants, martin shkreli and the attorney who was the attorney offering counsel to the company which martin shkreli was the ceo. i asked are you pointing the blame at the attorney? here is what he said. >> i don't think there is a finger of blame to point in this case. to the extent that both defendants may be innocent but one is a lawyer and our client relied on his advice, doesn't necessarily mean either of them committed a crime. >> reporter: if th

it is pharma's effort to make more money and to feed the beast of this opioid epidemic, and d.e.a. each year gives the seal of approval. that's wrong. and once these pills are produced, it takes a doctor or a dentist or some other authorized medical professional to prescribe them. how they're making it through that process onto the streets and into the homes of america is the next question beyond this d.e.a. approval of phrma's over-pruks. we -- overproduction. we need continuing education to be mandated and incidentally, d.e.a. approves doctors to give them the authority and power to prescribe narcotics. they can monitor this as well and see where the abuse is taking place. we need an all-hands-on-deck approach in this epidemic. i'm going to vote for this care conference romplet on this face, it's hard to vote against. but i want to do it with the knowledge and saying in this statement on the floor that it isn't enough. unless we pass jeanne shaheen's amendment, the senator from new hampshire, unless we follow up on senator patty murray's effort in conference and fund this effort

plus a big setback for biotechs and pharmas next frontier. more "halftime" with scott wapner coming up. >>> watch us as noon eastern every day. tokyo-style ramen noodles. fresh ingredients, step-by-step recipies, delivered to your door for less than $9 a meal. get $30 off your first delivery blueapron.com/cook. it's time to♪discover that in a lexus suv... ...there's no such thing as adverse conditions. ♪ come to the lexus golden opportunity sales event this is the pursuit of perfection. >>> welcome back to the "halftime report." a major event happening in three hours that could move global markets getting a glimpse into the health and stability of the european banks. josh brown started prepping us last week. wilford sfrofrost is here. >> european stress results 4:00 p.m. eastern time. banks are the sector down year to date, worst s&p sector. in europe the situation is even worse. stock 600 banks index is down 27% year to date, actually despite turning in a 6% gain for july. the stress test results come at a time when the banks are already bea

>> yes, because these all combined, worldwide pharma represents an 8.9% increase. operational increase of 9.7. i'm sorry to read but i don't want to get these numbers wrong. i've got to tell you, david, when you look at any other large-cap pharma, including bristol meyers, they're an excellent anti-cancer franchise. embrovica is an amazing drug. the tylenol business getting better. orthopedic, getting better than i expected. now, can the stocks sustain this run? i think that when the smoke clears, this is going to be absolutely a terrific stock. >> we're going to take a look at earnings from ibm and united healthcare among other very big caps when we come back with the opening bell. u recommend synthec over cedar? "super food"? is that a real thing? it's a great school, but is it the right the one for her? is this really any better than the one you got last year? if we consolidate suppliers what's the savings there? so should we go with the 467 horsepower? or is a 423 enough? good question. you ask a lot of good questions... i think we should move you into our new

we're talking about big pharma because one drug stock is showing signs of a breakout.e'll give you the name. the action begins right now. despite the new record, bond, treasuries continue to rally. u.s. tenure yield fell below 1 57b9 5% this week. great for realtor, but how long can bonds and stocks rally together? let geiss get in the money and find out. >> take a look at this. you get the gdp data we got and that's going reassure any bond bulls we're not going to get a rate increase anytime soon and you have to assume that every buyer of financial assets is hoping against all hope that anything's going to cut off the nice spigot of money that's been flowing in. i think they got what they wanted, but what's interesting is that equities could have done a little bit better today on the heels of some big earnings numbers we got and the fact this discounts a future rate increase. >> i'll say that's probably more function of the fact it's a friday at the end of july. i know what mike's saying. typically, we see the s&p at 15 to 20 handles, but the fact it is a friday in ju

. >> not that kind of drug deal, we're talking about big pharma, one is showing signs of a breakout.e'll give you the name. the action begins right now. ♪ >> love the music. let's get right to it. despite a new record for the s&p 500 today, bonds treasuries also continue to rally. u.s. 10-year yield fell back below 1.5% this week. great for realtors but how long can bonds and stocks rally together. let's get in the money and find out. mike? >> take a look at this. you get the gdp data we just got and that's got to reassure any bond bulls out there that we won't get a rate increase any time soon and you have to assume any buyer of financial assets is hoping against all hope that anything cuts off the nice money flowing into the markets. i think they got what they wanted. what's interesting to me, equities i think could have done a little better today on the heels of big earnings numbers we got and discounts of future rate increase. >> that's probably more a function of a fact it's a friday at the end of july. i know exactly what mike is saying, typically we see the s&p up 15 to 20 han

so we look a lot of places beyond pharma and biotech. pharma looks pretty good.dvance of science is powerful. and we see a lot to do -- we're pretty sure that these stocks are going to close higher for the year rather than down. >> exciting news. sam, thank you very much. sarah james, thanks to you as well. >>> we turn now to dallas where five police officers were killed last night by what the "new york times" is reporting a lone gunman. earlier this morning police had said they believed there were multiple shooters. sarah risario is live in dallas with more details. sarah. >> reporter: that's right. well, the suspect was killed by police here in dallas overnight. it comes after several snipers were standing in elevated areas shooting at officers down below. one of those areas is that parking garage you can see just over my left hand shoulder. it's still blocked off by police, but it's all the way at the end of this road. now, today the police chief here in dallas says he's being very cautious with the information that he is releasing about the suspect because he

everyone in russia is on pharma. they steered them to a reporter that german television network. documentary which aired in december 2014 and sent shock waves through the world of sports. >> we don't pick who our heroes are but at the end of the day, they stood up and did the right thing to insure that clean athletes' rights are protected around the globe. >> reporter: he's been advising the stepanofs since they left russia. he's a record of taking down some of the most notorious dopers, such as lance armstrong. >> the evidence confirmed what a lot of people have believed over the years. this is not just a few athletes obtaining performance enhancing drugs. this was a system orchestrated by the sport leaders to insure that they won at all costs. >> we're essentially limited to athletics and russia. >> reporter: the outrage finally forced them to launch an investigation. its 300 plus page report details what wana called a deeply rooted cheating that reached the highest levels. so bribes. >> bribes, covering up tests. >> reporter: you name it. >> you name it, they worked to get awa

. ♪ vonnie: it is focused on pharma week.e spoke with ken frazier about the latest advances in treating cancer. communal oncology has been something people have dreamed about for many years and these agents allow the body's own defense is to actually attack and defeat tumors. we have been studying across 30 different tumor types in more than 300 studies. it's one of the first agents that has the promise of being a broad-spectrum agent across many different kinds of cancers. >> does this have the replacement to -- the capacity to replace chemotherapy? >> it does. we studied it in an important subset of lung cancer patients against chemotherapy, which is the standard of care. chemotherapy has tremendous side effects. what the study showed is if you compared a population, chemotherapy -- this medication did better in progression of cancer and importantly, overall survival. now you have a drug that has fewer side effects and that is much more effective for the important subset of cancer patients. >> give us a sense of the arc of

pharma. we are talking that conversation at seven point 5 a.m. in new york.oomberg. ♪ >> star trek beyond sword to number one in the box office. a new and million dollar open over the weekend. the secret life of pets has dropped to the number two spot. ghostbusters and the low-budget lights out tied for third. speaking of the big screen, amc entertainment has resumed its shopping speed. company after shareholders rejected an earlier bid. amc also agree to buy a european theater. amc is owned by the chinese conglomerate -- pizza, a former silicon valley executive with a love of pizza and robots is on a cuesta make a better pie. robots that make pizza. explains.tsk >> there are a million little details. pizza that was made by team of robots. is the we're doing here first. on a mission to disrupt the pizza delivery business by using mostly robots. >> the journey starts at the top of the line. system to allow humans to work together. it gets pressed and spun and put on the line. she spreads carefully and spreads it perfectly but not too perfectly, so it looks lik

. >> fundtech to pharma to autos to oil, earning reports come fast and. . and. . and furious.uest help use track name news in global politics and policy. >> the democratic party is trying to reach out broadly to americans. >> we have been seeing since the beginning of the year, a significant pickup in the rate of money supply growth. >> it is ostrich ahead on "bloomberg best." ♪ erik: hello and welcome. i am erik schatzker. this is "bloomberg best." your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. for almost two years, yahoo! has been under pressure to separate its core business from it investments in asian tech companies. on monday, the big announcement finally came. it is official. verizon is buying yahoo!'s operating business for $4.8 billion in cash. it is finally happened. >> there is a non-core a.p. component of yahoo! that will remain within the yahoo! holding company for the time being that will be sold off, but probably not for another m

. >> fundtech to pharma to autos to oil, earning reports come fast and. .

the corporate deals increase the deals of big pharma and discourage regulation.look at these new trade agreements, tpp and a totally different light. they are not about trade and that is the fact. itc did thathat said, there is a little growth. more independent studies said it will actually negative. what all of these studies have made clear, it is not about growth. it is about something else. that is where i would distinguish between the new trade agreements, and some of the older, which are really trying to expand the scope of the market. tom: help me here. i am an undergraduate and honored to be in class with you. we have heard that donald trump's economic policy is not a conservative policy. it is not a policy from another time and place. thejoe stiglitz described economic policy of the opposition as we go to november? joe: no. there is no policy. there is no consistent framework. say can say -- what one can is it is neither consistent with democratic republican principles. demagoguerymash of and special interests. demagogue,hand, as a he is appealing to poli

during tpp negotiations, big pharma push for extreme monopolies. health care advocates like doctors without borders have raised serious concerns about its effects on access to medicine. drug companies have an allowed to add stipulations to the agreement that would increase the length of patents. the tpp would be a death sentence for many cancer patients, including women with breast and cervical cancer, by keeping lifesaving medicines out of reach due to exorbitant monopoly pricing. women treating aggressive rest cancer or cervical cancer do not have the luxury of waiting to eight years for accessed to affordable medicine. by pushing up drug prices, the tpp could impact medicaid, which also has a big impact on women and families. thank you. [applause] ms. kramer: name is christine cramer. i am from the state of nevada. i am against the saunders amendment because of the very last line shown highlighted -- states including the transpacific partnership, which opens it wide open for a franken-bill. this opens it wide open for a lame-duck session. was no

erik: from tech to pharma to autos to oil, earning reports come fast and furious. >> we have definitelyong tailwind effect from currency.

nejra: you have been in the industry a long time so i want to get your outlook on the pharma industrya whole, given everything we have seen recently over the issue of tax inversion. do you expect more m and a in the industry and where? jim: i certainly think you will cm and a. the inversion regulations in the u.s. have slowed some of that down. inevitably you will see more of these companies really trying to get focused or combining to get more presence in certain areas. as long as the scientific innovation continues at the pace we have seen since i have been in this business -- i've been in this business 30 years, there's no reason to believe it will not continue. we will see exciting new products and real improvements in health care. that momentum is going to carry the business. it is also going to create a lot of reshuffling for the industry. vonnie: tim up -- jim mullen, congratulations on the debut of trading.n -- patheon still ahead, senator ted cruz took the stage at the republican national convention last night. he did not get the reception he was hoping for. we will tell you

erik: from tech to pharma to autos to oil, earning reports come fast and furious. >>

focus on pharma week. with the merck chairman and ceo kenneth frazier about the latest advances in treating cancer. >> it has been something that looked -- people have looked at entering the about for many years. they allow the body zone defenses to attack and defeat tumors, so we have been studying 30 different tumor types in more than 300 studies. the date is one of the first agents that has the promise of being a broad-spectrum agent across many different kinds of cancer it. this have the potential to replace chemotherapy? >> it does. an important subset of lung cancer patients against chemotherapy. chemotherapy, while it has benefits, also has tremendous side effects. what that study showed is that if you compare the population, with respectbetter to providing protection against progression of cancer, and more importantly, overall survival, so now you have a drug that has many fewer side effects that is much more effective for an important subset of lung cancer patients. that is revolutionary. >> can y

so let's call this internet, tech, infrastructure, tele-coe, bank, pharma, that's perfect. ♪ hallelujahtwashington. >> caller: i've got starbucks, costco, amazon, nike, and microsoft. >> all right. ooh, interesting dispersion here. costco. my charitable trust, as is starbucks, let's call this restaurant. amazon is shopping. nike is clothing and microsoft is tech. now what i'm, actually, the whole thing i'm thinking is costco competitive with amazon. i'm going to say no. amazon is an internet retailer. they are different enough that i will bless this portfolio. some would say that's not fair. i should take amazon out, but i'm going to say that is balanced enough. see how hard it is? amazon's now everything. there isn't anything that competes against microsoft, whatever. at least not starbucks, but yet, why don't we step away. >>> on tonight's all-new american greed, telephone scammers from jamaica make 30,000 calls a day to hook victims in the u.s. don't get on their sucker's list. you can't afford to miss it. and we have wells fargo tomorrow. can it be as good as j.p. morgan? i was asto

i own a stock, gw pharma. >> that was a great speculative one that we involved with, because i do thinkhat they have the pure cannabis that doctors want to prescribe. if you want to hold on, it's pure spec. it's had a monster move. curtis in north carolina, curtis. >> caller: thanks so much for taking my call today. >> my pleasure. >> caller: i'm long on stock on stryker. >> their competitor is much better, i say sell, sell, sell stryker. and buy zimmer. we're going to arthur in maryland. >> caller: boo-yah from the home of the paterrapins. >> you want to buy rangold if you want to buy gold. go to luke in michigan. >> caller: boo-yah from grand rapids, jim, just wondering about air lease. >> we're going to be in united technologies. and that's conclusion of the lightning round! >> the lightning round is sponsored by td ameritrade. for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts for all the things that are important to you. shhh. alerts on anything at all? not only that, you can act on that opportunity with just one tap

some of it is about lowering tariffs but a lot of protecting big pharma. and another thing i always have to remind people about trade agreements. we talk about globalization all the time. everybody in d.c. talks about globalization, as to the they know what it means. it means these people are winners, these people are losers and that's god doing that. it's the globe. that's this power that we can't even question is doing that to us. but in fact, trade deals, which are how -- legal inization happens -- are written by humans. they're written bay specific category of humans. they're written by lobbyists, and they're written to protect certain industries, defend certain classes of people, and to ruin other groups. i learned this when i was writing "listen liberal." an economist friend of mine who talks about this constantly. he was around for the nafta debate. he talked about -- he knows the subject inside and out, and he loves to talk about how you could write a trade deal to ruin any class or category of americans and to protect any other category or class o

erik: from tech to pharma to autos to oil, earnings reports come fast and fears. see adefinitely strong effect from currency. >> we also see the effects from brexit. >> it is hard to see what growth is coming. >> the world is a volatile place and that is the reality. erik: big-name guests help us track big global moves and policy. >> the democratic party is trying to reach out to americans . >> we've seen the significant pickup in the rate of money supply growth. erik: it is all ahead on "bloomberg best." ♪ erik: welcome. i am erik schatzker. youris "bloomberg best," weekly review of the most important business news, analysis, interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. from was two years, yahoo! has been under pressure to separate its core business from its investments in asian tech companies. on monday, the big announcement finally came. it is official. verizon is buying yahoos operating business for four point eight $3 billion -- for $4.3 billion. >> there is a non-core component that will rema

a look inside the quarter with the ceo in a cnbc exclusive and take a look at the bio pharma companyt fell hard on its debut yesterday. today it is up slightly but we're keeping an eye on it. squawk alley will be right back. eligibility? e you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide. it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hosp

the germany pharma currently in a bidding process. also raises full year guidance following an almost 6% jump. managing partner from nova and he's with us. so bayer easily beating second quarter earnings. they came through and raised full year guidance as well. is this going to make it easier for them to acquire monsanto, chi they're trying to do. >> it's good to see success out of bayer. it's driven by the health care business as you've explained. the ag ra chemobusiness wasn't so great. it was flat. basf had trouble with ag business as well. being strong clearly puts them in a better position to make an acquisition. don't want to go in at a point of weakness. >> why is it so difficult for them to convince shareholders on both sides and monsanto as a company as a whole that it makes sense. >> that's a very good question. when you read what they're saying about it they talk about an invasion power house. they talk about investment, they talk about growth. investors like to see perhaps more cost cutting, more synergies, savings. chemic

i am starting with firm a -- pharma and novartis particularly.aper did not say where it got its information but we are seeing novartis move up a little higher, .4%. i thought we would bring this up because there were reports that the ecb is demanding that monte schi -- looks like it is 3%.ing lower, down looking at deutsche bank. over the weekend, we had reports that the ceo said deutsche bank will not be to access capital markets or to sell its wealth management business as it continues to build capital organically. where shell pick up was talking about italian banks. to inject public funds into the banking system as a last resort in direct defiance to the eu according to the financial times. let us bring back james bevan. this is an area of interest of his. >> i think he has no choice. inappropriately that europe is saying this. you can understand why germany is saying this. there are rules. guy: this is the area of friction. germany says these are the rules . everyone else says there are rules that we need to be pragmatic. is this a fault line

this is a bio tech, but trades like a pharma. we've talked about this time and time again as that. trades 14 or 15 times. gives you yield. has the elements along with xwrout and the pipeline is strong if any of those can be blockbuster drugs for them, that puts this thing into 200s. >> weakness. it was strong going into the number today. >> it should be. they beat by a dime. raised full year guidance by more than a dime beat. they still have an amazing pipeline to pete's point. this is 13.5 times forward earnings. i think it's cheap for the space. they have a great balance sheet. the ivb has broken out through 285, so i think you buy the weakness. >> i'm scared of the rhetoric. it's such an easy target. the whole industry for both sides and the idea that the government can't doesn't negotiate prices. what? >> not in the price. it will be continue to be under pressure until sort of a sell the news kind of thing. >> she's got to move. >> up next, one of the hoets trades on the street is cooling off and some wadely held stocks down. as we go to break, here's another look at a facebook

erik: from tech to pharma to autos to oil, earning reports come fast and furious. >> we have definitely seen a very strong tailwind effect from currency. >> we are also seeing the effects of brexit. >> it is hard to see what the catalyst for change is here. >> the world is a volatile place and that is just a reality. erik: and big-name guests help us track global news and global politics and policy. >> the democratic party is trying to reach out broadly to americans. >> we have been seeing, since the beginning of the year, a significant pickup in the rate of money supply growth. erik: it is all straight ahead on "bloomberg best." ♪ erik: hello and welcome. i am erik schatzker. this is "bloomberg best." your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. for almost two years, yahoo! has been under pressure to separate its core business from its investments in asian tech companies. and on monday, the big announcement finally came. >> it is official. verizon is

it's pharma. a lot of consumers. it's ewan lefrled, but it's exporters who have huge dividend yield where the pound getting destroyed. if you can hedge your currencies, you want to be looking at some of these places. euro stock is trading and a half times next year. if you could strip out the banks and yes, you could do that. this is a very interesting, exciting time to be investing. >> also a scarcery factor. all this free money is really interesting. i think it's made corporations and governance really lazy. instead of investing in their companies like they should be doing, they're taking the easy way out and buy iing back, whic is great for shareholder because stocks go higher, but in the long run, it just makes their companies instead of being more valuable, it makes them less valuable. they haven't been forced to make the hard skigss. >> it's like buying houses in 2007. what it's like. >> i know we don't have enough time to go after that. >> just throwinging them out there. >> you're telling me people are absolu

when you look at bristol meyer, it is much more like a biotech, scott, than it is a pharma name.o because of that, it's going to be a little bit more volatile. >> i just wanted to say, on bristol myers, and some of the other health care names, where they're very expensive drugs, you have to be careful that they don't run into a political pushback. >> well, they already have. gold prices hitting a two-week high in today's session. we'll talk about that when we come back in two minutes. alk abs on their auto insurance. wouldn't a deal involve two parties discussing something? a little give, a little take. because last time you checked, your rate was just whatever they say it is. why not give you some say in the matter? or even better, let your driving do the talking. liberty mutual righttrack® finally puts you in control of your rates. all you have to do is connect, drive and save. in fact, safe driving could save you up to 30%, with 5% off just for signing up for righttrack®. and the discount is good for the life of your policy. to get started, visit a local office or call liberty