what drug sanofi is trying to buy. throwback thursday as we said. this day in 2003 apple opened the iiphone store. we are expecting a slight decline, a big decline now in fact at the open. the dow down, the s&p by 16 t nasdaq by about 10 points. yesterday we did see a little bit of strength but not too much. and oil prices did hit highs of the year. that was the big story. 156 points the dow expected to open down. let's have a look at the yield on the 10 year note. we did see a dovish reaction to the fed yesterday. yield up to 1.9 and now down to 1.82. still in the middle of the range we've seen. >> meanwhile the big global market story. the bank of japan holding its monetary policy steady and cutting its inflation forecast. most boj watchers had been expecting more stimulus. the yen soaring on the news. the euro and dollar dropping by comparison. big drop for the euro in five years against the yen c, the dollar in something. there has been jawboning in the news where participants were led to expect policy action. and governor kuroda saying he's not

sanofi today, big, big day for the company. it reported little change in first quarter profit, another drug maker, and also a decline in sales. one month, one day, of course, after disclosing its interest in medication for $9.3 billion to rekindle growth. now, they responded, it reject the hostile offer, saying, and i quote, substantially undervalues the drug maker and isn't in the best interest of its shareholders. sanofi consequently is trading down by 6%. this is the biggest decliner in europe today. restaurant group, it's a u.k. restaurant group, shares have fallen to a four-year low, biggest decline since 2008. shares down by 27%. this company operates 500 restaurants and restaurants. basically it issued a profits warning amiths deteriorating sales. it's starting a strategic review. the c.f.o. is leaving. basic it's been hurt by increasing competition from casual dining chains and also a drop in businesses to u.k. retail parks, where many of its outlook are located. not only do we need you to come over to the u.k. and spen

thank you, sam on the sanofi story.ke you back to the main event of the day, boj governor kuroda. the press conference has ramped up, and this is after the boj pretty much did nothing. they are hoping to upset the impact of negative rates. we're standing by in tokyo with more. we should have seen this one coming, right? >> well, i would say so. the economists, we survey, more than half of them tdid forecast action today. if the boj wanted to take action, they had ample opportunity. they had great excuse, they had cpi data released this morning show inflationary pressure in japan all but gone. having said that, kuroda has consistently said in the past that once steps are taken, it takes sometimes for the effect to filter through the economy and that has been a big part about what his comments were today in his press conference. he said, we cannot say how long it will take, but it will not take six months to 12 months to see the effect. communicating with the government and mr. abe? is he saying, step it up? >> that is a

buying a cancer drug startup and sanofi making an offer for the biotech company medevation. meg terrell has the details and why there may be more deals to come. >> reporter: not bad for a thursday. three deals or potential deals totally more than $40 billion were announced in the health care space. some wonder if it spells a turnaround for the sector's recent woes. >> if you've looked at biotech values they're down 35% off the top in the last six to eight months on political rhetoric. asset prices have come down and become a lot more attractive. >> reporter: the biggest health care deal of the day, abbott laboratories' $25 billion fur of st. st. jude medical. abbott cardiovascular service and st. jude together will of that revenue of more than $8.5 billion. the company says it's expanding in the area as 40% of american adults are projected to have some form of card vascular disease by 2030. more dailies could be in the offing. >> i think this is going to trigger a lot more consolidation in med tech space as companies try to compete with j&j, which has long been the dean of t

set a fee, of course, looking to , ofue the company -- sanofi course, pursuing the company to expands cancer treatment business. ♪ what did you miss? the japanese security firm largely exiting european operations. take a look at this chart. is compounded by all the uncertainty over the brexit. what is interesting is that bar here, hasd been the firm's biggest money loser since 2010. backave to go pretty far for that to happen. since then, the red losses have been pretty steep for nomura. a quick check of this function on the bloomberg. it's called loss-go. it allows you to see how many jobs have been shed at different companies. 139,174 jobs cut over the past 12 months. alix: i am looking at analyst that are not actually that terrible. this is a great chart. is bank of america has earnings revision ratio. as it moves higher, -- bank of america has earnings revision ratio. america's earnings revisions ratio. when the chart moves higher, that kind of causes a drop in the s&p -- arise in the s&p. -- a trough in the s&p. the end ofts think earnings season will be the end of the badness,

the french firm sanofi made a bi $9.3r media vision worth billion.an entire american town is up for sale. it's on the border of nevada, near california. the asking price is $8 million. that includes the airfield, plus the building home to the local casino, bar, restaurant, and post office, all wrapped up in one. the town was founded in 1965 by nancy had will -- nancy kidwell and her husband. she is hoping to make money. she put it up for sale a couple years back for $17 million. now they are hoping to sell it for about half of that. we will see what happens. catherine n.: casino, restaurant, and post office all in the same building. william: take care of your daily business, then go out in the evening. catherine n.: i love that. thanks so much, will hilderbrandt. we are going to take a short break. see you in a couple minutes. 04/28/16 04/28/16 [captioning made possible by democracy now!] amy: from flagstaff, arizona, this is democracy now! broadcasting from northern arizona university. >> the government won the election in january 2015, to say no to

. >>> sanofi reported an increase in quarterly profit as the drugmaker's bio tech segment helped lift results. overall revenue for the company fell dragged down by lower diabetes drug sales. also biotech company medevation has turned down their unsolicited $9.3 billion offer saying the amount undervalues the company. shares of anna fee fell 4%. >>> roby will buy tivo in a deal valued at more than $1 billion. the new company will take the name tivo. tivo was up nearly 6% to $9.98. shares of rovy up were over 1.5% to 17.62. >>> the drugmaker valiant announced it has finally filed its financial report for 2015. avoiding thereby a default on some of its debt. the report was initially delayed over accuracy concerns with the company's financials. valiant also nominated three new members to its board of directors. shares of valiant nonetheless down more than 5% on the day to 33.36. >>> our market monitor has listed blue chip stocks he says will rise 15% over the next 18 to 24 months. joining us tonight is gary bradshaw, portfolio manager at hodges capital management. the last time he was on

that's a powerful weapon sanofi has in its favor. medivation for it's part saying as today's public disclosure of this proposal does not differ materially from the private correspondence they received less than two weeks ago, the board expecting to complete a review of the proposal at a scheduled meeting today and will let everybody know what they think about it. so we'll see what happens there. many view this as a negotiation at this point. the question is will another bidder emerge for medivation to get a significant auction going. >>> finally our parent company paying a number that few thought it was going to pay for dreamworks. the deal is done. jeffrey katzenberg, the man who founded and ran this company, is going to be essentially departing, but departing with a big paycheck. 41 pucbucks is share got everyos attention, all cash. yesterday the news was out this was a potential deal. the stock of dreamworks traded up but it added another 24-plus percent today in part because of these incredible multiples that our parent company i

sanofi did see one with genzyme.son why you're seeing medivation stock not up that much is because news of this potential interest leaked a couple of weeks ago. there is the expectation that either sanofi will go up or there will be another potential buyer as med i vags looks to defend themselves. >> david, it takes us right to art. some of these companies either see value or are desperate for top line growth. which is it? >> i think it's trying to get the growth together. it's been a slow recovery globally and it's been difficult for some of thooefs companies to really put it all together. they look at something to complement their product line, if you would, and try to add it in. let's not forget, money is still very, very cheap, and there is some hint that eventually that might change so let me spend it while i can borrow it for free. >> you do not see june as likely, though, do you? >> absolutely not. >> why not? >> if you look at the wording, we've gotten obscured by the bank of japan's move but i think that wor

. >> meanwhile earnings, first quarter not profits for sanofi rose by 6% on the year.he french drug maker says it hopes medivation will constructively engage in deal talks after it made an unsolicited $9.3 billion bid for the company. >> astrazeneca have dropped 12%. that was in line with expectations. as it comes under pressure from expiring patents. revenue inching up by 1% thanks to the sale of rights to certain medicines. >> and posted a slight beat in first quarter operating profit on sales which were broadly in line with expectations. but the pharma cut its forecast due to currency moves. >> we basically had a negative impact from a number of the emerging markets impacts. and also the full year a slight decline in the u.s. dollar will be a drag on earnings in 2016. >> -- of $1.2 billion. -- >> and italian oil company eni reported a 790 million euro net loss in the first quarter. on weak crude prices. and claudio joins us in the milan with the latest. what is new in the latest release here. >> since 2014 the oil prices have been weighing on eni. in 2015 it reporte

look at the individual stocks and how they've been moving, starting with health care and looking at sanofi, little change in first-quarter profit, but a decline in sales. 11% inn insulin declined the quarter. we are seeing that stock move lower today. rbs, falling after it reported a deeper first-quarter loss. it repaid the u.k. government for support received during the financial crisis. it also said it would take longer to resume dividends. profit surge, but it did warn about the second quarter moderating short-term capacity growth plans because of the effect of the brussels terrorist attacks. that has been dragging travel stocks lower as well. finally, back to the terminal. 11-months fallen to low. dollar-yen, the yen has been strengthening because of the boj 's in action, but the weaker dollar certainly hasn't helped. tyler-yen hit 106. mark: thanks very much indeed. you've been with bloomberg for the last hour i hope. you've heard the debate. the brexit panel. let's break down some of the key points. svenja o'donnell is here. won? far, thed say so remain camp could be declared the win

sanofi great relationship with general doesn't really seem to matter.eals have been working though. we've seen deals work. look at that deal with rubbermaid with darden, martin frankly combining with mike polk, that is the kind of thing that happens when you do m&a here and there's a shortage of growth. so let's point out m&a has to come back for these companies. has to. you're in the sweet spot, david. >> on a day where we got row v.v. v v. tee tivo. >> yeah. billion dollar deal. tom rogers. >> there you go. oechbtly going to happen. david, what are you hearing about national -- >> nothing. it's up every day. >> is it? ge -- i know i was looking at this is the chatter. not so big versus baker hughes that ge couldn't afford it. they could use their digitization, i think the deal makes sense. i know there are a lot of people to say where are they to double down on the oil patch. i'm looking at oil every day and thinking when will someone buy -- when is someone going to make a move? look at this freeport. oil is doing well, copper's doing well. nobody bou

sanofi maybe pulls the trigger on the rest. biogen zooming, nothing is too big. allergen is going to get $40 billion. even gilead is ramping, why not? like so many other drug companies, gill i can't tell stock are cheap. the fib and a half chi queen is 4 for 4 and because she's 4 for 4, the whole index, the big etf names, get taking up. now, none of this will be possible if valeant weren't getting killed today like usual. isn't that what usually happens? this stock has been a one-man bear market casting a pal over the entire group because the political program and regulatory scrutiny it brought to the industry. brent saunders took the idea of buying valeant off the table. even down here. but he didn't dismiss the idea of snapping up one of its divisions like the one he used to run, bausch & lomb. that plus a buckup conference call by the cheerleader in chief with the gigantic stake in the company shackle it had bear with some rah rah, worthy more of villanova than valeant. stocks stampeded higher and then it rallied hard again after the bell when the possibility

sanofi and regeneron say their experimental drug have proven positive. if cleared by the fda, it would be the first approved systemic treatment for the skin condition. >>> boeing has won a $326 million contract from the u.s. air force to build 15,000 smart bomb kits. the kit adds precision guidance to conventional bombs. the contract also covers technical and field support. >>> american airlines is dropping its policy of allowing customers to hold a reservation for 24 hours without paying. instead, customers who buy a ticket will have 24 hours to cancel it without being charged, which is already standard at other u.s. airlines. the switch goes into effect today for tickets bought over the phone. both policies much better than you get for european airlines. >> are they? really? >>> when we come back, happy birthday, apple. the tech giant turning 40 today. have a look at what the firm has achieved. 1 billion active apple devices in the world. >>> and our twitter and facebook question of the day. what would you wait in line for? the tesla model 3, as we jus

fee -- sanofi reported little change. guess what the market might be looking at is sales.me of its best selling drugs brought. we saw a decline of 11% of its best selling insulin drugs. iag also heading lower. one of the worst performers on the stoxx 600 this morning. profit jumpedg and first-quarter earnings increased by more than sixfold. still, iag declining this morning. now, on to some of the gainers. i've highlighted three. -- itng with the aztecs felt less than expected. it was a beat for that company. up almost 3.4%. heading up .7%. what we saw was first-quarter profit beating estimates and also the company pledging more pruning of its sprawling product range. we are seeing a gain on the back of that. rbs was heading higher earlier when we had the market open. it is heading down now, 1.3%. it posted a deeper loss in the first quarter as it paid for some of the government support it received during the financial crisis. a net loss widening to 968 million pounds. more than what analysts had expected. guy: thank you very much. you the markets, now let us talk about br

sanofi is offering to purchase $52.50 perfor share.n is unwilling to meet, so this seems a hostile offer already. let's get to the bloomberg business. david: the yen is surging. ine than half the economists the bloomberg survey had predicted action from the central bank. meanwhile, poor consumer prices last month. this underscored the challenges of inflation. meanwhile, the u.s. federal reserve skipped an interest rate hike for the third straight eating. -- third straight meeting. instead, officials were closely monitor they will situation, they say. sales and profit beat estimates. businesses spend more to advertise videos on the social network mobile app. first quarter revenue was up 52% , just under $5.4 billion. facebook is also creating a new class of stock subject to shareholder approval. valeant ceo and phil ackerman have appeared before a senate committee and admitted that they got things wrong. they have come under fire for raising drug prices. they said they were going to try and remedy the situation. echairexted our for and

french drug maker sanofi, gilead, and entreksen san ofoe is -- they as earl why is as this year, matchinglso laid out for the national institutes of health. gilyard has a program where it screens its library of hundreds of thousands of compounds to find potential activity. the company's a leader in antiviral medicines with drugs for both hiv and hepatitis c and already found a candy for eboli. and finally in mosquito control, we notice bayer for its favorite aspirin, but also has a major crop sciences division, within that it's developing products to control the mosquitoes that carry zika. also new methods being used on including genetically modifying zika to wipe out its own kind. so a lot of work under way. >> suicidal mosquitos? >> that's what we're hoping. >> got it. thanks so much, meg. >>> springtime for housing. the home builders in the hard of the selling season right now. how optimistic are they at the moment? we're back in two minutes with an answer. a deluge of digital records. x-rays, mris. all on account...of penelope. but with the help of at&t, and a network that scales up a

stoking speculation on a take majority bid, and then there's metavation that reportedly has rebuffed sanofid bank shares as well, jpmorgan's reds, but take a look at some of those on -- as we're seeing some of the e & p exploration and production names, tuft texas bank names are moving higher on a bit of easing concerning, whether we'll see some of those it loans go into default. back to you. >> bertha, thank very much. >>> pertinent to our theranos discussion earlier, there are no reports of a -- and 2014 fund-raising round have been been marked down. i apologize for any misinformation there. >>> art cashin just signaled to me 400 million to buy, that's the market on close in balance going into this close with a dow up 185 points and the s&p at 2081. i am told that 2085 is the level that traders are watching on the up side. >>> joining us is amy women u. mike santolli is still hanging around. he was talking about the tremendous short interest, tr e traders today both of whom are highly skeptical, and the sentiment could not by any worse. >> i hate to be a downer, but the markets we look at

>> sanofi is really going to try to be aggressive. also astrazeneca.roblem was the spread. it seems like we are getting big premiums offered. the acquirers are willing to pay big. >> they are willing to pay more. it is also interesting to see what's going to happen with the changes the treasury put in a couple weeks ago. a lot of bankers said deals got paused. cheap. also very david: thank you to debbie wang and jeff mccracken. dan skelly, you are still with us. toathan: a lot of deals break down this morning as we count you down to the opening bell. that is next on bloomberg go with futures negative across the board. ♪ john: bloomberg . account the opening bell. 20 seconds away. equities across europe and japan are low. we have readily markets here in the united states. bell, iear the opening will get you into the asset classes. the end is down 2.6%. the biggest one-day drop since august. we have given of those gains. the basis points are up 1.68%. crews are unchanged. >> we have so much going on with deals and earnings. we do not have a lot of mo

sanofi making a bid to buy u.s. biotech. offering $52 a share. >>> big deal of the morning.t $85 a share in cash and stock. $25 billion in total. abbott expects that the deal will actually be accretive to 21 cents a share to its earnings next year in 2017. 29 cents in 2018. >> want to quickly mention priceline group ceo darren houston resigning. >> for personal reasons? >> is it? >> what does that mean? >> stock halted. >> shatner too old -- >> to step into the ceo role? shatner looks great. >> $13.55 is the price of the shares. the first s&p company to be over a thousand bucks. on a three-year basis it's doubled. it's been on a tear. this has made a lot of investors happy. now the ceo stepping down. we'll bring you more news as we get it. >>> it's a strange announcement. it doesn't say anything. just says resigned following -- >> health? >> nope. here is gets more complicated. are you ready? mr. houston resigned following an investigation overseen by independent members of the board of directors of the facts and circumstances surrounding a personal relationship that mr. hus