. >>> seagate announcing it's cutting 2% of its workforce. >> they're so strapped, still to the pc and the fact that revenues continue to drop and earnings continue to drop. they're trying to find a way. i don't think it's time to start dipping into this name. right now trading the way it is, i think you've got a lot of time before to worry about getting back into seagate. >> weiss, gilead with the big bond issuance, not a surprise given what we've seen in that realm over the past couple of days, enormous, we talked about the stock yesterday. it initiated a hold at whatever firm made that call. what's your call? >> pete and i disagree. i didn't own the stock, i bought it this morning, even though it was up a couple bucks whendy. the reason being with $15 billion in cash and about $12 billion of long-term debt. they took on another 10 billion. they could be doing that, racing to the window before rates go up. we know they're going to make an acquisition, maybe they're prefunding it i chose the latter. i like the company anyway. think we'll see more corporate issuance ahead of it they bo

look for seagate to do something similar if they want.dy has written off companies that have giant cash flows that don't have momentum. when stocks go down, there are some buyers. >> you have a lot of people looking at free cash flow yields which are moving up sharply as stock prices move down. but that's not always indicative that the stock will reverse. >> exactly right. >> but this one today is certainly in reversal mode. >> seagate is what i always hear, maybe that's a good time to cut. >> we have some other stocks to watch this morning. not to mention we have to keep an eye on the high yield and what's going on. there it's been the key to our equity markets. all that coming up. "squawk on the street" coming back after this. my name is peter tran. i'm a gas service representative. i've been with pg&e nine years. as an employee of pg&e you always put your best foot forward to provide reliable and safe service and be able to help the community. we always have the safety of our customers and the community in mind. my family is in oakland

seagate stuck in a catch-22 and that's what happened in this case. >> that his judicial circularity andate it at all. i don't know if that's a term, but i don't like any of the spying and nonsense but i do like you. thank you for being here. >> thank you. kennedy: coming up next, see what workout regime vladimir putin is doing with his gym buddy and the fastest docs dog d same power. movie, we are which one arrives first? . wondering is part of an intelligent system that creates the optimal trip profile for all trains on the line. and the one on the left? uh, looks like it'll be counting cows for awhile. so maybe the same things aren't quite the same. ge software. get connected. get insights. get optimized. you can't breathed. through your nose. suddenly, you're a mouthbreather. a mouthbreather! how can anyone sleep like that? well, just put on a breathe right strip and pow! it instantly opens your nose up to 38% more than cold medicine alone. so you can breathe and sleep. shut your mouth and say goodnight mouthbreathers. breathe right kennedy: pumping iron and pumping your face full of

seagate stuck in a catch-22 and that's what happened in this case. >> that his judicial circularity ande it at all. i don't know if that's a term, but i don't like any of the spying and nonsense but i do like you. thank you for being here. >> thank you. kennedy: coming up next, see what workout regime vladimir putin is doing with his gym buddy and the fastest docs dog d kennedy: pumping iron and pumping your face full of hot and kinky stories, it's about to get isometric with topical storm. from wrestling tigers to topless horse rides, vladimir putin is a soviet action figure who has mastered the art of traditionally powerful optics. he hit the gym with dmitry medvedev. he could have lifted weights all day long. i haven't done this aroused by a world leader since i first laid eyes on the sky. ♪ ♪ well, they had so much juice left in the tank that they put on a musical aerobics class to seal in the freshness. ♪ ♪ no let's get physical. ♪ ♪ kennedy: hopelessly devoted to the gym. topic number two. you know the el paso chihuahua's are a fantastic ball team. they offered the winning dachshu

also weakness in seagate and western digital, those are lower today. semi-conductors giving up some of the gains we saw earlier in the week. stocks, semiconductor index really underperforming the broader markets today. one of the reasons for that we're seeing marvel technology down about 16% after disclosing accounting investigation. also seeing some subsequent downgrades by analysts in light of that fact. micron, kla-tencor and skyworks solutions also trading largely in the red today though giving back some of those losses. there is a bright spot though, that is moves to the up side in several of the large cap names that had been leaders for the nasdaq 100 overall this year, names like amazon, google, gilead sciences. many investors are parking their cash in a lot of these big large-cap names. they are considered a little bit safer, higher growing names because everybody is really essentially sitting on their hands ahead of that fed meeting next week. >>> meantime, a new government study on blood pressure was so conclusive that it was cut off a year e

. >>> seagate cutting 1,000 jobs as part of a restructuring plan that's about 2% of its workforce globally. >>> the transports get a nice pop this hour and on their way, by the way, to the best week since the end of july. the gains come on the back of some m&a action in the sector earlier this week. truckers involved there. morgan brennan has some of the big movers. what's going on, morgan? >> so transports are outperforming the broader market. this is on xpo logistics acquisition of conway. conway shares are up more than 33% right now but they are not the only stock catching a bid on this news. other trucking and logistics companies are soaring as well. names like old dominion freight line. yrc worldwide. hub group. echo global logistics. universal truck load services. even covenant, westerner enterprises and knight transportation. the conway/xpo deal could shore up pricing for the overall sector and more pricing is likely to come. >> you would think with all of those players out there, a lot of them could eventually merge. >> we've seen a number of multi-billion dollar deals in that spac

i note the storage names like seagate are also week. intel, all down a little more than 1%. finally, add fuel to the fire, car manufacturers are weak across the board. the french finance minister wants an investigation of the entire auto sector in europe on the heels of that volkswagen scandal. look what it is doing to daimler and gm and ford. the point at the top, the ewg is the etf for germany. you can own the german stock market. look, it's down 4% today. this is germany. this is not daimlerchrysler. the whole market has been down since the move yesterday. >> okay. we'll get back you to for another check on what's going on with the market. thanks a lot for that, bob. let's head to times square with courtney reagan. >> yes, the nasdaq is the biggest loser of the day. we're looking at the indices. the kpod it is negative year to date. every single component in the nasdaq 100 also in red. it's the worst day for the composite and the 100s since september 1st. as we fall, it could get worse from there. the nasdaq biotech etf down 3%. and that says we will have more details fro

. -- seagate rated new cell price target 38 and western digital price target 71 over at ubs.s so much. to hear live breaking news over -- bloomberg, you can type squ squa go on your terminal. out there is someone in the headphone space was gotten clobbered on dollar riel. i would say michael tennenbaum is the perfect guy to talk to about the future of hedge funds. pimm: the whole nature of behavioral responses to volatility. michael: i hope so. pimm: you have put together a concept of how people incorrectly look at volatility. michael: incorrectly is judgmental. but that's ok. people talk about volatility as if it is something unusual, a swan.vent, black i have been in the business over 50 years. you were supposed to say, oh really? anyway, the wide range of prices has been a constant feature since 1962, every five to 10 years there has been a swing in stock prices in the u.s. of 30% to 40%. it gets blamed on something different every time, oil prices , real estate went bad. have characterized advanced economies forever. is, since this happens all the time, wire we surprised?

western digital and seagate getting a bump up.ng airline stocks after a call from goldman sachs. american airlines is trading lower, rating a neutral, basically a relative call. goldman likes the rest of the airlines and thinks their long-term earnings power is being underestimated. it just does not like american quite as much. the others are trading better. at of these are by rated goldman. mark: oil and gold are down today. how about copper? julie: it has been a rough three months. i want to look at copper and gold -- we see copper rebound today. we saw china takes a measures overnight to improve its economy , including cutting taxes on copper's sales, so rebound is tied to that. freeport-mcmoran seems to be rising on comments from carl icahn where he said he would be involved with the company. he will be playing by his activist playbook, so to speak. when you look at freeport-mcmoran, we are talking about bouncing off from very low levels. to date the quarter look -- even though copper is down sharply, not down nearly as much a

seagate technology is up 6.6% at the moment.emory chips, up 5%. fiat/chrysler is up 5%. they may have a public offering as far as friday. the ipo price may be set the week of october 12. advance auto parts is up. stake.ue disclose a 3.7% tom: one more. >> how about rents track? it accepted a takeover offer c fromom score valued at $800 million. the combined company will be a rival to nielsen holdings. up but nielsen is down in early trading. the decline amounts to 1.6%. can you getlse these comments on the markets and clarence clemons? michael: we have to ask tracey holloway. >> no sacks for me. michael: let's talk about something else. we can talk about copper. everybody calls it dr. copper. the dr. is out. if you look at one commodity this week, look at copper. michael: do they use copper in saxophones? tom: they do. marcus parsley, the great trumpet player, showed me a 1930's instrument with copper in it which give it a different town. michael: now we can combine the two. >> copper on monday moved below its 200 month moving a