. >>> porpoisetive news on the biotech front, regeneron says the fda granted approval for the ecsemag t. treatment will carry a list price of $37,000 a year, regeneron shares were off a fraction at 8255, santafee flat at 4535. carnivale said strong demand for caribbean cruises and higher on board spending helped profit top expectations. the company says it is see theing strength in the number of bookings for the remainder of the year. prompting it to raise its outlook for 2017, carnivale shares higher at 5926. >>> shares of darden restaurants continue to surge today, following the company's stronger than expected earnings that came out after the bell last night t. owner of olive garden gave an upbeat profit forecast and said it was taking over restaurant chain for almost $800 million. darden up 98% to 8262. the competition between facebook and snapchat is heating up. facebook launched three new features similar to snapchat abilities, including adding filter effects to your pictures and send video and photos directly to your contacts. wall street sent shares down about 7% for snapchat

it is an injectable medication made by regeneron and is mentality for chronic eczema when other medical met work. it comes with a high cost, $37,000 a year. side effects can include cold sores. >> a lightning strike in havertown, forcing an evacuation that sent students home early. nobody was hurt with all of this, but school has been canceled tomorrow. >> the rain, mercifully is moving out. we have sunshine tomorrow. >> we had more than an inch with thunderstorms this morning. it's been since last thursday since we have had a full sunny day. we have two and then things change. two for now -- or later, by monday as well. storm tracker 6 double scan showing we have scattered showers moving off of ocean county. the last of it for a while, until friday. the action cam tonight in fort washington pennsylvania where the roads are wet. it's still damp out there. we have dramatic improvements by tomorrow morning. right now, winds have shifted out of the west. philadelphia 48. down from a high of 54. temperatures not dropping quickly. reading 49. wilmington 51. cape may currently 50-degrees. sat

regeneron getting approval for a drug first skin condition. pressing out at $57,000 a year. a lot. some are saying compared with other drugs that are used to treat similar skin conditions or like psoriasis and rheumatoid arthritis, that is actually lower than they might expect. some are wondering, is this a good move? to try to avoid actual legislative pressure and people will be interesting to see in future drug approval, we're expecting one in april from eli lilly, where will they see their drugs? >> for that roche drug, analysts say that is lower than expect. it's hard to make the case when the sticker shock is still 65 grand a year. how do they plan to attack that? >> it's a really great question, what we hear about the messaging is they keep comparing it to the other drugs on the mark and showing how much those have increased. but it's such a populist issue. when you hear $65,000 aer 82. that's a substantial amount of money. of course, insurance, hopefully will pay for that. there will be discounts on top of that as well. but it will still be a problem lift /* /- populi

. >> reporter: regeneron and its partner sanofi spent over $20 billion over many years creating something that's supposed to be a life changer for patients. calico cooper can keep performing following in the footsteps of her father, shock rocker, alice cooper. >> i am healthy and i am able to work and wear makeup, wear sunscreen and put on my favorite perfume. >> reporter: now unafraid to show the world who she really is. anne thompson, nbc news, tarrytown, new york. >>> still ahead tonight, is this the end of atm cards? the new way banks are letting you make cash withdrawals. and it's secure and lets you ditch your wallet with no swiping necessary. and the weather threat putting millions of americans at risk this evening. >>> we're back now with a new technology that could change the way you get cash from the bank and could mark the beginning of the end of atm cards. it's more secure for customers and more convenient for people worried about losing those debit cards. nbc news business correspondent jolene kent tells us how it works. >> reporter: heather quinlan's atm card number has been

celgene, regeneron, vertex?irst of all, to buy a buy stock, any stock in the world is 10% upside. so i'm not getting paid for the risk if he thinks that's the upside target. in terms of the other buys, pretty much generic. not in terms of generic drugs, but generic recommendations. bib has been somewhat controversial. the stock hasn't performed. it's been a favorite for a very, very long time. so that's the one i would dig into a little bit more. >> looking at a 10% downside. >> any stock has 10% downside at that point in time. >> in this space, especially. >> exactly. so to me, it's an issue who's on the board. let's see what he does from here. >> all right. gold prices on track for their longest losing streak since may of last year. we'll get the you the plays from the future traders, coming up next. next. >>> take a look at the s&p sectors, though. we're back after this. e back af. ♪ why do so many businesses rely on the u.s. postal service? because when they ship with us, their business becomes our business.

the nasdaq has turned positive thanks to strength from biotech names like regeneron. the worst performing sector, down by half a percent. we'll have much more on the bank sell-off straight ahead. >>> here is what else is happening this hour. some news you heard exclusively here on cnbc, sources telling us bill gross has settle his lawsuit against his former employer pimco between $75 million and $100 million. the number around $81 million. gross filed the original $200 million lawsuit back in 2015. his dismissal from pimco was a breach of contract. amtrak derailment with no injuries reported. the investigation is widening into the terror attack in london. uk police say there is no evidence the attacker discussed his plans with anyone else or any other group. melissa? >> we have a very busy two hours ahead. we kick things off in washington where the trump administration is trying to turn the page following last week's fail europe of the health care bill. let's get straight to eamonn javers. >> reporter: this is day one. they are looking for ways to move forward here in

of course regeneron has a splitting agreement.ug for them. >> are you surprised at the stock reaction? >> no because people expected approval by today and analysts have been pegging the price around this amount, actually fascinating note out this morning saying $30,000 is the new $50,000 in this drug price environment. people hoping not to really raise the eyebrows with the very high price tag in this environment right now. >> meg, thank you. >> meg, let's take a left turn a little bit, talk about president trump signing executive orders aimed at rolling back environmental regulations. joining us is karen harbert, president and ceo. she was with president trump during the signing. what did he sign and what does it mean? >> great to be with you. energy accounts for one-third of all investment in the united states and what president trump did today with the stroke of a pen is unleash the potential of that one-third to benefit the rest of the economy. we'll be able to export more american energy, put more people back to work and attr

. >>> sanofi's new drug to treat eczema will particular ket the product with regeneron. it will have a list price of $37,000 which is less of other products of the same kind. $37,000. that's pricey. the drug initially cost 50,000. maybe that's a bit of a discount. let's get back to politics. it's another major setback for francois fillon's presidential campaign. two weeks ago was put under formal investigation for paying his wife from public funds for work she did not do. yesterday his wife, penelope fillon was also put under formal investigation after being questioned by magistrates. >>> man well valls says he will vote for manuel macron in the presidential election. let's get out to claire. do you think valls will help macron more than he will help him since he comes from deeply unpopular socialist branch. >> that's the question, carolin. it's double sided this support from valls to macron. he has been fighting as to not continue the continuity of the fillon era. the former prime minister is more of a handicap for him than asset. on the radio this morning he said i tha

. >>> sanofi and regeneron scoring a win as the fda approved their new drug to treat eczema.he therapy could eventually bring in more than $3 billion in annual sales. the shares basically flat today in french trade for sanofi. >>> the fda also approving roche's multiple sclerosis drug putting the drug back on track after a three-month delay by regulators over manufacturing issues. >>> more stocks to watch. toshiba's nuclear unit westinghouse filing for chapter 11 bankruptcy after westinghouse faced billions of dollars in cost overruns and years-long delays at u.s. power projects. also a risk that toshiba may be de-listed from the tokyo stock exchange. >>> shares of dave and buster's falling today. the restaurant and arcade shares earnings fell short. they project weaker growth for 2017. this stock has been trading at record highs, so a lot of upside built into the stock. shares of sonic under pressure. the drive-in restaurant chain's revenues falling short of estimates. the company blaming a sluggish consumer environment and weather headwinds. if you look at it. consumer conf

of course there's implications for regeneron.interesting day here in biotech, guys. >> meg, that's exactly what i was going to ask. now that you've explained it, i understand why amgen is down. not enough to justify the price tag. to see that company espr down more than 20%, is there a whole class of drugs implicated by this or a sense that everyone will have to lower the price if they want more distribution? >> the expectation might be given the results the companies still have drugs in the pipeline including esperion. it's still trying to target that bad ldl cholesterol. the medicines company is targeting the same drug. perhaps they will have to have longer term trials in order to show this benefit to proof things. these are smaller companies so they are more volatile. >> meg, thank you for that. back at cnbc headquarters. >>> just 15 minutes to go before the bell. markets up a little bit. taking a couple of them into negative territory in the last few minutes. the dow and s&p and now also the nasdaq just lower. >> wow. there w

this hitting makers of cholesterol drugs across the board including regeneron which has a direct competitoratent battle right now. esperion and medicines company as well. back to jou. >> you have to wonder whether we'll see deregulation or more regulation for those drug makers on prices, meg, thank you. as we head to break another look at propetrol just opening for trading moments ago here on the new york stock exchange floor. we're going to talk to the ceo. the stock is up 6%. much more "squawk on the street" straight ahead. ( ♪ ) upstate new york is a good place to pursue your dreams. at vicarious visions, i get to be creative, work with awesome people, and we get to make great games. ( ♪ ) what i like about the area, feels like everybody knows each other. and i can go to my local coffee shop and they know who i am. it's really cool. new york state is filled with bright minds like lisa's. to find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. ♪ music plays throughout) why pause a spontaneous moment? cialis for daily use treats ed and the urinary

do you think regeneron, do you think let's puzzle over this for a second, did they come up with a eyerug -- did say ben bernanke has given me permission to come up with eylia a few times a year than what it was 52 times, no, let's stop it already. >> all right. >> did not create because of bernanke. >> oil wells went in the ground because there was liquidity that otherwise wouldn't have been there. >> saying the bull market is not going to end. i mean, that was the question. >> yes. i was actually going with more of a kind of metaphor kal way. >> okay. >> kind of like a post impressionist view. >> i like the post impressionist. >> do you want me to go with a r rembrandt? he's worth like nothing versus aroscoe. >> yeah. >> roscoe didn't end well, as you recall. >> that's true. neither did picasso. >> or van gogh. >> we're going to talk about the market anniversary all day long. meanwhile, gop did clear a hurdle in its effort to replace and repeal obamacare. in the wee hours of the morning republicans approve legislation through house ways and means that would repeal the tax penalties o

2560% it made me proud that we had interviewed him early on in that run just like with len from regeneron. steve has that asset lite moelt business where he franchises and manages what turns out to be pretty scarce rooms. yeah, there aren't that many. speaking of scarce, there were 178 shares of wyndham, now they're 108 million. what a buyback, what justifiable conviction. six. all right. well maybe we got to puzzle over this one. number six is netflix. you think the fed at one of those off the record meetings they have where you don't know what's going on, one where they haven't released the transcripts yet, spent some time brainstorming and came up with the idea it would be fantastic to have an internet platform that you could binge watch tv and movies or are you a deluded fool like me that believes that founder and ceo reed hastings actually thought of netflix himself. how can you not credit the fed with most of that gain because they created -- didn't the fed create "house of cards"? how about orange is the new black? luke cage, maybe new cramer favorite black mirror? number seven, pr

other names on the list include united rentals up nearly 4,000%, regeneron up near 3,000 percent, alaska and priceline up. so are any of these stocks still buys even while ulta's out of it, can you apply that argument? >> yes. i'll give you two. netflix because i do think they're going to get bought. i think it stands alone on itself number one. number two, price line we've been talking about now for years. when everybody else seems to fall by the wayside they continue to do well. valuation wise, not so expensive to two work. >> i'm not a buyer of stocks. >> at all. >> no. i think you're going to get an opportunity in the next couple months to buy every one of your favorite stocks -- >> the same thing that happened in the stock marketing for the last couple of months continues to happen. >> maybe. >> the rally continues against all expectations. >> yes, yes. i think that's what you're seeing. you're seeing this lack of initiative on behalf of the investment community right now. everyone sitting on their hands because they're waiting for the market to come back in. when everyone waits for

actually you mention negatively regeneron is not a bad name. >> sam, i find it fascinating the tree areasou just mentioned. illimuna, tools for studying things in labs and things like that. you mentioned gene therapy and crispy, precommercial, gene therapy is getting close. we have here a list of kind of what donald trump has said since he was elected on drug pricing going back to december saying he's going to bring drug prices down to january calling saying the industry is getting away with murder but lighten things in his speech last week talking about artificially high drug prices. what does that mean to you and do you think he's shifted since the election on this topic? >> unofficially high may, in fact, tie back to drugs that have lost theiridn't have competition. the companies raised their prices. and that could be the artificial plat that we're talking about. otherwise, we need to pay for discovery. discovery will not be done if prices are not fair or high. and as i said, the united states is the envy of the world. ourt the's a mega trend going on within the sector where managers a

regeneron pharmaceuticals. these are smaller mid-cap names. alaska air, certainly one you heard of along with the biggie netflix, which has gained 2500%. that is some performance in eight years, huh? snap has been about five days since the ipo. shares are down about 7% here, introducing messenger data, competing with facebook messaging app. snap is having trouble with that, their overall performance. we had another ipo today. j.jill pricing at 13 bucks. closing below that level. not a great sign. taylor brands, owner of mens warehouse. back over to you. david: lori, thank you very much. phil, oil's drop is clearly one thing spooking the market today. we know oil's down because inventories are piling up. why are they piling up? >> that was the big question. nobody sealed to know. i mean i was on the phone all day. i talked to the strategic petroleum reserve. i talked to guys down in the gulf of mexico. there were three theories, some of it is, maybe some of the strategic president troll yum reserve has been sold, over 60 million barrels, may be

gilead science, johnson & johnson was up today, but regeneron pharmaceuticals were also down, they're looking for guidance, not going to get it soon but they're looking at it, liz. liz: we may get guidance soon, i want to keep viewers on notice here. the freedom caucus, according to chad pergram, our super top producer in the congress, he is saying freedom caucus is clustering in one of the halls and will come before the cameras to say what they do not like about it and whether it is, as gerri willis put, it dead on arrival. the freedom caucus is a bloc. stay tuned for that. we've got our cameras chasing everybody. closing bell ringing in 49 minutes. boeing releasing the 747 scheduled to re-enter service in 2018. >>> dish flying higher after it was announced the satellite tv company will replace linear technology corporation in the s&p 500 on march 13th. so dish gets the big invite to be part of the s&p 500. it's up 4.63%. up next, billionaire hedge funder steve cohen side lined by the sec. you remember charlie gasparino said his return to business is starting to look more likely? wel

. -- regeneron up 3.8%. oil prices rally after smaller than estimated inventory numbers. we saw a drawdown in gasoline and distillate, which implies is demand. natural gas prices are also higher today. chesapeake energy are in that group. one of the groups that does not tend to do as well when oil is higher as airlines. counterbalancing some of the gains in energy. to be fair, the index of your life is up for five straight sessions going into today. that could likely be a factor. scarlet: thank you so much, julie. oliver: with stalled policies in washington and lower treasury yields, the stock really limits of my be taking a bit of a breather. with long-term bull market intact,, to bring in chief equity strategist gina martin adams. great to have you here. with thehave you on launch of bloomberg intelligence stocks. let's talk about the last couple of days. a little bit of a pullback in a relative sense biggest things are going up and up for a while. what you make what's been going on? gina: for the month of march we've been in a consolidation phase. . a couple of things

amgen and regeneron down. two of a kind. a tweet is not necessarily the most effective way. complex issues. >> yes. snap, down almost 8%. back below 22 now. i assume we're nowhere near peaking near interest on the shares. >> my travel trust owns facebook. a great company and making so much money. about to become far more than just an advertising company. the data center is real. remember, snap has to pay them $400 million a year. now, if they really have a slow down in daily average users, how will they afford that $400 million? that's a lot of money. don't forget, i still think that al alphabet wouldn't be wrong to guy a big management company that business the enterprise. >> you'll get a fee on this when it happens. >> salesforce. >> you don't need to be einstein or watson to figure that out. you can be bullwinkle and rocky to figure those out. >> one of my favorites. >> patricia was the first babe. you can say that because it was a cartoon character. >> she was. >> morgan brennan is on the floor for us today. >> hey, carl. stocks modestly lower today. second down day here

in that case, amgen and regeneron are exposed there. the financial implications of that aren't so significant and the stocks are priced in a lot of that over the past two years. >> what does it mean to increase competition? how do you see thatunfolding? faster paths to market, what? or less patent protection? >> sure. i think all three of those makes sense on an extreme case, cutting patent life short. however i think donald trump is pretty pro-innovation. unlikely scenario but could be on the table. puts more of the drugs into the hands of the pbms to increase access. so there's an increased call for pbms to negotiate. on the extreme positive end, accelerating more drugs to be approved faster would increase competition. >> that didn't fit in 140 characters. those are all possibilities, right? the fact is that we still don't really know. >> obviously there's a meeting with elijah cummings coming up this week as well where they're talking about getting prices down. medicare part b to part d is one way. stocks can still move higher becaus

regeneron.ow component, united health soring almost 900%, as you can see right there, and apple, up over 1,000%. biggest winner in the dow industrials, joined in 2015. on the flip side, some of the biggest lags are energy stocks thanks for crude's fall to $100 to $50 today. top losers? southwestern energy down over 70%. transocean, which is down nearly 60%, and 50%, and in the dow, ee exxon mobil, it's down. another fun fact. one of the biggest companies in the world, facebook, gaining more than 200%, wasn't public yet. that only happened in 2012, just to put this all in perspective. back to you. >> morgan, thank you very much. most stocks have gone up -- we don't have stocks, funds, up 6,000 percent. yours have. >> oh, yeah. >> does the market have room to run? let's bring in head of funds and managed accounts at northern trust asset management and michael bell, global market strategist at jp morgan asset management. let me start with you, you say now after this run, not just the eight year run

. >> regeneron -- yes, exactly. what i want to discuss. pricing their key drug on the market.the applause building here. take a look at the realtime exchange. back in our headquarters in englewood cliffs, new jersey. we're right here at the nyse where we'll get the opening bell. over at the nasdaq, cnbc's new primetime series "the deed chicago." kind of like the "law & order" franchise. there's the guy from "the deed." >> he's leek the world's expert and someone says you don't know what you're talking about. >> you really enjoyed that. >> i happen to love real estate. and my wife and i do a lot of real estate. we watch the show. we have that guy come in with us. we're look at some properties we really need help. we need the deed asbury. >> we're spreading the franchise around the country. there they are, congrats to them. looking forward to that. 10:00 p.m. now i have done my part for the parent company. let's move on to the markets themselves. jim, we had a decent day yesterday. nice turn around in the s&p. this morning we start down a bit. but my eyes go to the banks. look a

sanofi and regeneron scoring a win as the fda approved a new drug to treat eczema.he therapy could bring in more than $3 billion in annual sales. >>> the fda also approving roche's multiple sclerosis drug. the green light puts the drug back on track after a three-month delay by regulators over manufacturing issues. meg tirrell has more on the pharma news at the bottom of the hour. >>> new economic data out from chi china paints a more worrying picture out of bay sing. we' bay jieijin beijing. we'll reveal those numbers next. . ♪ ♪ wanna get away? now you can with southwest fares as low as 59 dollars one-way. yes to low fares with nothing to hide. that's transfarency. kevin, meet yourkeviner. kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. . >>> welcome back. important data from china later this week, while our next guest expecting a strong read he's worrying about how big a price beijing is paying by projecting a stable growth. we're jo