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farrell from s scana. welcome back to "mad money." >> great to be here. >> opportunistic thing for company like dominion. can you walk people through it, why it's going to get done it's politics but good for people paying the bills. >> scana is utility with assets in north carolina and georgia. gas distribution in south carolina as well this is a company that had to abandon building a new nuclear facility for which customers have been paying for a number of years. stock has suffered difficult situation for folks in south carolina, customers and customers of their partner, cooperatives it's a complicated deal. we put together a package that tries to solve a lot of the problems for the customer. $1.3 billion in cash going to customers within 90 days of closing. very unusual thing to give company's customers val crew in a transaction, i've never heard of it before almost $600 million in subsidies for rate reduction 5% going forward. shortening the time period 60 to 20 years absorbing additional $1.7 billion o
farrell from s scana. welcome back to "mad money." >> great to be here. >> opportunistic thing for company like dominion. can you walk people through it, why it's going to get done it's politics but good for people paying the bills. >> scana is utility with assets in north carolina and georgia. gas distribution in south carolina as well this is a company that had to abandon building a new nuclear facility for which customers have been paying for a number of years....
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has taken on scana a lot of debt to build the power stations.ue for them is that they borrowed big to do it and they get to building the project as these have a bill that typically of 10 years. cost to passed some customers. they will not finish the project and not be able to get returns. the debt rallied a little bit on news of this deal this morning. shery: great having you back. is at: coming up, etf iq 12:30 new york time and watch all of our interviews and programming at tv . tweet us. this is bloomberg. ♪ >> i'm scarlet fu. this is "bloomberg etf iq." we focus on the access list and awards offered by etf. scarlet: is the tide turning for commodities with oil back at $50? they are trading in an 11 month high. what are the best etf's to play this recovery? onsit down with marc levine why he soured on hedge funds throughout almost -- enter his weight behind index funds. new year, new trends.
has taken on scana a lot of debt to build the power stations.ue for them is that they borrowed big to do it and they get to building the project as these have a bill that typically of 10 years. cost to passed some customers. they will not finish the project and not be able to get returns. the debt rallied a little bit on news of this deal this morning. shery: great having you back. is at: coming up, etf iq 12:30 new york time and watch all of our interviews and programming at tv . tweet us....
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because number 49 -- 497 on the no hit parade scana, the south carolina utility company, just caughtweet premium takeover bid from dominion energy this very week. we spoke with tom farrell last night and we came away thinking he might be stealing the company given how good the region is and how poorly scana is run. it's a rare instance of a stock down 46% in one year and then immediately making you money in the next now, i ring the register on scana and i would buy the company trying to buy it, i would buy shares in dominion which has been hammered because of the weakness in the utility group. the worst performer last year, under armour down 50% this former market darling has been crushed by it own parapa tick management. you stick your finger in nike's eye, they come back hard we don't know if nike is beating them no matter what. if planks is all in and focused, i think he s and if the stock pulls back to where it was a few weeks ago it's had a major rebound. you have a good trade going in the quarter. finally bringing up the rear, range resources. once again, there are much better
because number 49 -- 497 on the no hit parade scana, the south carolina utility company, just caughtweet premium takeover bid from dominion energy this very week. we spoke with tom farrell last night and we came away thinking he might be stealing the company given how good the region is and how poorly scana is run. it's a rare instance of a stock down 46% in one year and then immediately making you money in the next now, i ring the register on scana and i would buy the company trying to buy it,...
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scana provides energy and natural gas to georgia. also giving $1 million a year in ch charitable contributions for the next five years. >>> during hurricane harvey this video went viral. in it playi flooded texas home. but unlikely source really came through for he and his family. talking about singer vanessa carlson who saw him and sent him a brand new piano. how cool is that. >> pretty awesome. >>> sheena is back with us now. the line around the corner for the car washes, everybody has these filthy cars. >> i wouldn't try to do it. >> now i feel bad. looking at that, and watching you guys, i know you were talking about how the models maybe not so much for d.c. >> it's trend ago little more for d.c. and northern virginia and maryland. so we are not saying a ton, but i sure would not wash my car car right now. >> still put the chemicals down. >> still put the stuff ton the road even if you are not driving through the snow you'll get it on your car. but as we go through tonight that's when the storm system will get closer to us. remai
scana provides energy and natural gas to georgia. also giving $1 million a year in ch charitable contributions for the next five years. >>> during hurricane harvey this video went viral. in it playi flooded texas home. but unlikely source really came through for he and his family. talking about singer vanessa carlson who saw him and sent him a brand new piano. how cool is that. >> pretty awesome. >>> sheena is back with us now. the line around the corner for the car...
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the big takeover today in the energy business, dominion energy has agreed to buy scana for nearly $8ject nuclear hampered their value. vonnie: halfway into the trading day this wednesday. julie hyman is with us. julie: we are seeing a record
the big takeover today in the energy business, dominion energy has agreed to buy scana for nearly $8ject nuclear hampered their value. vonnie: halfway into the trading day this wednesday. julie hyman is with us. julie: we are seeing a record
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the offer represents a premium 42.2% to scana's closing price yesterday, as you can see, scana sharesby 28% this morning. in real estate news, the office vacancy rate rose to 16.3% in the fourth quarter that was up slightly from the prior year, and this is the first increase in five years united technologies upgraded to outperfect from sector perform at rbc capital markets the analyst there expecting recent margin pressures on the otus and pratt whitney units to subside this year. >>> new this morning, north korea reopened a border hotline with south korea that had been closed since last february this comes after -- one day after south korea proposed high level discussions, and just hours after this tweet from president trump. north korean leader kim jong un -- he usually calls him little rocket man -- but in this case he actually called him by his name just stated that the nuclear button is on his desk at all times. will someone from his depleated and food-starved regime please inform him that i too have a nuclear button, but it is a much bigger and more powerful one than his, and my
the offer represents a premium 42.2% to scana's closing price yesterday, as you can see, scana sharesby 28% this morning. in real estate news, the office vacancy rate rose to 16.3% in the fourth quarter that was up slightly from the prior year, and this is the first increase in five years united technologies upgraded to outperfect from sector perform at rbc capital markets the analyst there expecting recent margin pressures on the otus and pratt whitney units to subside this year. >>>...
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dominion, which is exporting soon, bought that scana, big nuclear problems but be aware before you gohe natural gas stocks because it's so cold, stick with oil. 180 million americans in below freezing temps and i don't know if you saw yesterday, google searches for the words froze rn pipes are at a three-year high. >> home depot, which is down yesterday, is a buy. i saw a downgrade of masco and that's kitchen and bath. but home depot's hd supply downgraded because it's been so strong i question that downgrade. i like the pipe business bay the way, copper, freeport, people still use pipes. >> just hit 6094, that's a fresh two and a half year high going back to 2016 there's the opening bell and s&p at the bottom of the screen. at the big board, the warrior dog foundation, providing refirr retirement for working canines. >> i'm going on any lifestyle and nutrition. mind body shames you into spin i tried spinning what the heck is that? peloton, i love that. >> i have to see that on camera. >> my daughter wanted me to do yoga, that hurts me. we went to like a spa, you know, spa with pinaco
dominion, which is exporting soon, bought that scana, big nuclear problems but be aware before you gohe natural gas stocks because it's so cold, stick with oil. 180 million americans in below freezing temps and i don't know if you saw yesterday, google searches for the words froze rn pipes are at a three-year high. >> home depot, which is down yesterday, is a buy. i saw a downgrade of masco and that's kitchen and bath. but home depot's hd supply downgraded because it's been so strong i...
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i think that dominican did that deal with scana.he retailers should be bought transports are very strong i like a lot of the action the banks are leading us that's a good market. >> that is true. >> bank of america is 30 can you believe it >> jim, we'll see you tonight. dow sittg ose incl0 session highs up 137 with dow 25k in the books. good thursday morning welcome back i'm carl quintanilla with melissa lee, david and sarah are off. 258k on the dow. we hit it right at the opening bell with the blue chips up 150 points a lot going on, whether that's here or in washington. we're keeping an eye on all this with the s&p at 2726 of stocks, huge milestone. the dow hitting 25,000 for the first time ever. a little over a month after 24k. we'll look at the stocks that led the way and how high we may go this way. >> a massive storm making its way up the east coast. lou it's impacts businesses and gas prices >> the ceo of intel reportedly selling a large stake in his firm after he found out about a massive security flaw. what he said straight
i think that dominican did that deal with scana.he retailers should be bought transports are very strong i like a lot of the action the banks are leading us that's a good market. >> that is true. >> bank of america is 30 can you believe it >> jim, we'll see you tonight. dow sittg ose incl0 session highs up 137 with dow 25k in the books. good thursday morning welcome back i'm carl quintanilla with melissa lee, david and sarah are off. 258k on the dow. we hit it right at the...
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. ♪ alix: dominion energy is going to buy scana for $29 billion.he whole value of the transaction is 14.6 billion dollars. dominion is a utility company that operates a lot in the midwest and the northeast and midwest. of regulated utility company. they operate in the carolinas as well as georgia. moving and diversifying a little bit more south as well. it has been an industry that is needed a lot of shakeup and it has been hard to get a lot of deals done. $7.9ion buying scanf for billion in an all cash deal. scan a is up by 27% premarket. inid: it is stocks or stock the m&a has overwhelmingly -- it is stock for stock. we want to turn to mifid ii. it took effect earlier today with a lot of expense of preparation and a range of views about what it will mean. we should say that bloomberg lp competes to provide a wide range of services for firms complying with mifid ii rules. nejrag us from london is cehic. i want to start with a chart about volume. early reports that trading volumes are down. trading volumes are usually down at the beginning of the y
. ♪ alix: dominion energy is going to buy scana for $29 billion.he whole value of the transaction is 14.6 billion dollars. dominion is a utility company that operates a lot in the midwest and the northeast and midwest. of regulated utility company. they operate in the carolinas as well as georgia. moving and diversifying a little bit more south as well. it has been an industry that is needed a lot of shakeup and it has been hard to get a lot of deals done. $7.9ion buying scanf for billion in...
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a big hit to earnings my favorite is tom farrell from dmin yan, paying a $1,000 to anyone who used scanathe south carolina utility he's willing to give $1,000 to people he didn't even know and don't even work for him. the citigroup deferred taxes was 20 billion, that could crscrew p anybody's calculation at morgan stanley. obviously what we're seeing is time after time, upgrades based on the fact that there's a lot more cash and therefore there's a lot more earnings expansion. now, when we see the actual earnings, i think we will begin to hear about bigger buybacks but it's better to do the $1,000 first and buybacks later. >> big bank earnings start a week from today. >> could be exciting. >> some argue this earnings season will be cloudy because of tax reform uncertainties and charges and benefits we don't really understand yet. >> i think for the international companies, the story will be the weak dollar. i think for the domestics, what they will do is kind of subtly say to the analyst, hey, this could be good and that's more reasons to upgrade i think a lot of upgrades we're seeing ar
a big hit to earnings my favorite is tom farrell from dmin yan, paying a $1,000 to anyone who used scanathe south carolina utility he's willing to give $1,000 to people he didn't even know and don't even work for him. the citigroup deferred taxes was 20 billion, that could crscrew p anybody's calculation at morgan stanley. obviously what we're seeing is time after time, upgrades based on the fact that there's a lot more cash and therefore there's a lot more earnings expansion. now, when we see...
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resmed topped the s&p and scanas corp was the loser what do you think?nages green, a quarter percent on the s&p 500 one thing i would take away today is the strength in the tech stock 0.7% gain in the nasdaq. the nasdaq is 50% higher than peak levels in 2000. 7 7500 would be that level i think what that tells people, just because the sound behind this rally is all about tax cuts and cyclical earnings gains, they still go for the big bellwether growth leaders. >> the fang names. >> the fang names. i don't think it will be mass rotation into small caps and financials and things like that. that's just one takeaway right now. i don't think the complexes of the market in the first quarter -- >> kind of a rerun from last year we also have earnings just out, which we'll get to danny, what are your thoughts? what are you telling investors, especially now that we've been off to the races >> it's been one sparkly, shiny thing after another. the big change has been last year before the tax cuts, we were looking at forward earnings of maybe 12.3% on the s&p 500. but
resmed topped the s&p and scanas corp was the loser what do you think?nages green, a quarter percent on the s&p 500 one thing i would take away today is the strength in the tech stock 0.7% gain in the nasdaq. the nasdaq is 50% higher than peak levels in 2000. 7 7500 would be that level i think what that tells people, just because the sound behind this rally is all about tax cuts and cyclical earnings gains, they still go for the big bellwether growth leaders. >> the fang names....
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shares of scana up south carolina residential customers will get an average of $1,000 within 90 daysthe deal being completed, brian. >>> melissa, thank you i'm brian sullivan as much as the world focuses on trump's tweets, let's stay focused on your money. and can you say dow 25,000 perhaps another milestone in sight. bob pisani is following your money at the nyse. bob. >> brian, a nice broad rally new highs in all the major indices. i want to show you some of the breakout 52-week highs what's interesting about this is there's nothing that's completely dominating. tech tends to be leading if you look at the new high list, you get industrials like united technology and union pacific, nucor, lennar, you're getting a couple breakouts in energy chevron last week, eog a big exploration company. 52-week highs. but see this list is not dominated by just tech or anything else, it's a fairly broad list take a look at the big story which i think is now continuing to be growth versus value. this is the way i look at it this is vanguard growth etf. you see that, twice as much in the growth today
shares of scana up south carolina residential customers will get an average of $1,000 within 90 daysthe deal being completed, brian. >>> melissa, thank you i'm brian sullivan as much as the world focuses on trump's tweets, let's stay focused on your money. and can you say dow 25,000 perhaps another milestone in sight. bob pisani is following your money at the nyse. bob. >> brian, a nice broad rally new highs in all the major indices. i want to show you some of the breakout...