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like teva -- big in generics -- it spent at least 2 times more on sales and marketing than it did on research and development. mylan, the maker of the epi pen -- spent three times more -- and valeant, spent at least 4 times more on sales and administrative costs. sot: 11:54:46 "is the system broken?" "it's not a system. it's a disaster." dr. meg lemon struggles to make sense of drug increases like the one we tracked for erythromycin gel -- a 44 year old drug... sot: 11:55:51 "if it were an open marketplace, they wouldn't survive, their drugs would be too expensive, and they wouldn't survive... but they do -- and -- they aren't shy -- telling people -- about their drugs -- on tv -- in 2013, 8 companies spent 1.36 billion on national tv ads... in 2014, they spent 1.5 billion. last year they spent, 1.86 billion. that's nearly 5 sot: 4:48:17 "the out of pocket cost at the time was 900 dollars..." joanne brennans daughter claire relies on embrel -- a highly advertised drug for rheumatoid arthritis -- it's nearly doubled in price in four years. sot: 4:51:02 "oh, the system is broken, very

even as it sold at this time generic business to teva earlier this year. but it did get some stock, and teva stock is down 10%. management matters. so remember track records. remember what's been said. remember what's been done. judge ceos on their words and deeds and performance and character, and be prepared to stick by that judgment when times get tough. when times get tough like they sure are getting now. joey in florida, joey. >> caller: yes, sir. thank you for taking my call. >> of course. >> caller: a booyah from the space coast. i have a good, well diversified portfolio that i've developed over the last 15 years. stocks such as pepsico, which have tripled and quadrupled in value. my question is this right here. with the impending election coming up, historically the market has been volatile regardless of which party gets in under a new presidency. >> right. >> caller: would this be a great time to take these things off the field and step back for a while if it goes down and -- >> i've got to tell you, joey. day with jack moore who runs the charitab

road is gone but there's one in upper merion by intel along beidler road at valley forge road and by tevaam road at hartman road. no big issues so far on the pennsylvania turnpike. we do however still have that downed pole in lawrence township mercer county, it's a downed street light partially blocking the ramp from 295 northbound to one northbound. luckily you can squeeze by. and in christiana it's slippery there as well so a vehicle ran off the road way into a ditch along highway one northbound by 95 there by the mall. you can get by that as well. and overnight construction has cleared from 301 in middletown but crews do return tonight at 8 o'clock so at that point chop tank roads or cedar lane road would be better bets. tam. >> okay, thank you, matt. >>> developing overnight, san francisco police detained a man accused of waving a gun around at a movie theater. a witness says the man stayed seated while other people jumped up screamed and fled. no injuries were recorder. two days ago a theater had to be evacuated when a security plan shot a man who threatened to open fire first. >> ne

place this week they are up-and-down and everywhere now we are back to feeling like it's almost summer teva temperatures this afternoon and the upper 60s there 70 degrees in some cake is that there are changes coming in the extended forecast first if you try to head out the seventh to knew new line a mix of dinner plans later on here's what we are dealing with the do 3 degrees a deputy different before and stapleton 33 at dia will rise about another 15 degrees degrees but time is sunshine a couple of wispy clouds lakewood theater on the 60-degree mark arts ago 69 today they we call down a bit on saturday 65 is to get some cloud cover and maybe even a few stray showers but things cool down next week i got below freezing lows will check it out coming up mcdonald's wanted to make sure you got a burger that was perfect for you so they created looks like got to settle for the run-of-the-mill option because they're taking it away again they say it's because of some customer complaints mickey d's give it that a giddy state must be the holiday season again because opera oprah has released her favor

we had more in manatee and sarasota county earlier, especially eastern sarasota and cap teva right now. some of this will move to venice. you can see a couple of sprinkles. i think most of it will fall apart before it gets to longbow key. i can't rule that out. that is about 7, 7:15 or so. a sprinkle is possible. can't rule it out. most areas will stay dry today. look at this. big-time storms in louisiana. tornado watches extend from parts of louisiana into mississippi. the southern part of this line has the best chance for weather. that rain so much needed in that area and into the carolinas, and those areas will get rain not only today, but a couple days this week. it's going to help out there. for us we stay relatively dry, mid-70s out there right now from tampa at 76, tarpon springs at 73, riverview at 74, and look at this sunset right now out over the gulf of camera. mid-60s. that's it. did you notice the humidity? it's muggy. that's going to keep the overnight lows up. most of us low-to-mid 60s and eventually we will end up, i think, back out into the upper 70s to low 80s again t

so i say teva, i don't know. i would sell some tomorrow. there is something -- this is not working out. bob in new york, bob. >> caller: hey, jim. how are you? >> i'm good. how about you? >> caller: not bad. first of all, you're our family's financial gps. wanted to let you know that. >> thank you. >> caller: and over the past week, visa has taken quite a hit. i'm thinking in terms of a trump administration, but quite frankly in any environment, visa seems like a company that would thrive unless the fundamentals of the company have changed, and i don't see that. >> bob, it's total flawed funds. here's what happened. visa, mastercard, and american express, they're considered to be faux financials. they're what you buy when you don't like the banks, but you want to show that you own financials. well, if the banks are good, you got to sell something. so they're selling the faux financials. i agree with you. my charitable trust thinks visa is a buy down here. i think you're right. patience. dorothy in massachusetts, dorothy. good to talk to you

it includes more than two dozen drugs and a dozen companies including mylan, teva, and endo pharma, all of which fell today on that report. >>> the s evaluaec is investiga wells fargo, joining the departments of justice, offices of states' attorneys general, and other agencies about unauthorized accounts that bank workers created to meet sales goals. wells fargo also increased its legal reserves fund. >>> americans are drinking their coffee. starbucks saw its profits rise as sales increased and topped expectations in the most recent quarter. the world's largest coffee chain earned 65 cents a share. that was a penny better than estimates. revenue climbed 16% to more than $5.5 billion. the company announced an increase in its dividend. shares in after-hours trading were volatile. susan lee has more. >> reporter: the big driver in the rally in starbucks sales in after hours is the increase in dividends, raising the return back to shareholders by 25%. but it was another quarter, though, of disappointing global same store sales, which is how restaurants and coffee chains are judged. a third

teva is down by 10.5%.lergan am some of the other others that are fall, as well s i mentioned incidento. so not all of these are necessarily household names, but they make generic drugs. but they could ago fect by this probe. many of these companies did decline to comment beyond the companies mav that me mid or didn't respected for comment for question. e're seeing a ripple effect. mall and crew seems to be very reactive to issues of drug pricing. i think we'll motion more on these story throughout this great afternoon. >> >> than while, we're going to have coverage of this covepble stock of this is bloomberg. ♪ scarlet: this is "bloomberg markets." we want to get back to the news we broke earlier. we have u.s. prosecutors said to ready file charges against generic pharma companies by the end of this year. this comes up as they wrap up an almost two-year criminal investigation into suspected price collusion. joining us now with more is bloomberg's caroline chen, who helped break the story for us. this is a

. >>> teva pharmaceuticals posted higher than expected profit as a result of benefits from the takeoveraller gen. the company did note that lower sales of treatments contributed to its revenue miss and reduced the yearly outlook. shares off 8% to $37.60. beeser homes, delivered fewer homes. the company also reported a drop in revenue. shares down 13 cents to $11.67. >>> as we just told you, shares of united continental continue to rally today. after a regulatory filing yesterday, revealed warren buffett took a new stake in the airline. today united announced plans to introduce a less expensive basic economy option that comes with restrictions like prohibiting customers from bringing on board a carry-on. oscar munoz expects the move to improve earnings. >> we had an investor who flew from los angeles with a $110 round-trip fare. that is not a sustainable fare in a business wormed. what we want to do is offer not only that fare but that particular customer would have paid more to get a seat assignment, to get a bag assigned. so the way we will make money is the ability to upgrade and upga

prosecutors may file criminal charges against teva by the end of the year on price collusion.ceo says the deal agreed in july depends on the ailing italian carrier meeting certain conditions. the italian government spent months trying to mediate between manus: oil is never far from our mind. since 2014.rally full risk coming down. the banks have been dead. are we in a sweet spot for saudi arabia? great to have you with me. in saudi?a sweet spot >> we have seen a big shift. three weeks ago, we were talking about it being the second worst stock index. we were looking at interbank rates at their highest in seven years, since the wake of the financial crisis. we saw the cost of insuring saudi arabia and debt higher than dubai. things have been remarkably changed following the saudi arabian sale of $17.5 .illion bond the tadawul has chalked up 12% gains in less than three weeks. declined for six days running. sibor,we talked about .he market i just had that discussion with claudio descalzi. the entire situation is dependent on the price of oil, but we also have the election which c

allergan sold their business to teva. people getting worried about how much that means prices are rising. >> how much she talked about it being the system and not just us. thanks for joining us. >> thank you. >> we have about 45 minutes to go. dow is down 6 points. ritzer not the size of the decline but the fact that they are continuing to fall. nasdaq is down 37. >> coming up, we get the latest developments on the fbi's probe into the clinton foundation. >> starbucks, cbs and go pro expecting results. you are watching cnbc, first in business world wide. for the holidays. before his mom earned 1% cash back everywhere, every time. [ dinosaur growls ] and his dad earned 2% back at grocery stores and wholesale clubs. yeah! even before they earned 3% back on gas. danny's parents used their bankamericard cash rewards credit card to give him the best day ever. that's the joy of rewarding connections. learn more at bankofamerica.com/getcashback. is that they contour to tempur-pyour body.esses... you just have to lay back in my t

tarred and feathered stock along with teva and mylan, and it missed its earnings estimates because of some pledges not to raise some old drug prices. i was unhappy. now, i don't expect price increases. the ceo has said they're not going to do them, but it has gotten ridiculous that allergan is the fastest growing major pharmaceutical stock with the lowest priced earnings multiple. believe me, i love yield. but give me growth any day of the week. allergan has growth in spades. i trust the ceo to deliver a ton of new drugs in 2017, and i hope he comes here very soon. finally, i think it's worth noting that walgreens boots alliance sold off yesterday on the commentary from cvs. but one of the main problems with cvs is they're losing money to walgreens. plus we know the earnings were excellent. now, today walgreens regained all the ground it lost yesterday. but with trump taking the white house, i think the prospects get even brighter. why? it's more likely the company's rite aid acquisition will pass muster with the regulators once president obama is out of fi so let me give you the bott

stuart: i've got pfizer, merck, glaxo, teva, they're up. they're up because hillary said we're going to slash prices. she lost, donald trump in, it's a plus. >> i think that biotech, it's down 35% and one of the things that hillary rant -- wanted to do-- >> didn't she want to limit the time when you've got patent protection on a new biotech drug? >> that's very, very difficult. stuart: but it's off the table. up go biotechs. >> they were gathering against biotech and i think this is a reprieve and this is an opportunity to look for great movement there. stuart: let me go back to the infrastructure stocks, if i can do that for a moment. almost everybody agrees, both sides, we're going to have an infrastructure package and spd big on infrastructure. so we've got caterpillar, that's the standout infrastructure stock, $90 per share. ingersoll-rand, general electric, i don't think that's much of an infrastructure stock, but caterpillar is going straight up. okay. the technology stocks are down according to our executive producer because trump vo

generally the market is higher but certainly not teva pharmaceutical after a quarterly earnings beat but did mention that revenue missed and it cut full year guidance citing launch delays for some drugs by as much as a year or so. facebook announced measures to halt the spread of what it calls fake news on its plat forms. company updating advertising policies to point out that its ban on misleading content does apply to fake news. >> and some facebook employees are reportedly starting an unofficial task force to question the role the company played leading up to the presidential election. let's bring in fitzgerald for more on the impact fake news had and the changes on facebook. let's start with the impact to facebook here from your analytical point of view. >> so from a financial standpoint we don't think it will have much impact. this is a company that for the first nine months of the year grew north of 50% with a huge margin, margin north of 60%. so what we think it may have less than 1 percentage point impact on the top line and maybe on the bottom line. we think the impact will

obviously after the valeant disaster and policy noise you have names like endo, teva, perrigo, othershat basically are trading at 3 to 7 times current year earnings. obviously lots of uncertainty. there's always uncertainty when you're talking about securities down this much. some countries out of favor, italy, russia and turkey. russia is still down big from multi-year highs even though it's come back with oil prices this year. obviously you have to be pretty brave right there. and some of the old media broadcast owners like tribune, gannett, obviously a lot of secular declines there but they do look like maybe they're washed out something like 50% to 60% losses from their highs. so that, guys, basically the areas i'm looking at. of course no guarantees. also my favorite, uranium, etf down 90% is down six years in a row. so unless nuclear energy goes away entirely -- i'm just pointing it out that that exists out there. >> i can't wait to hear the broker on that one. get me into uranium. >> a radioactive pick, carl. >> thanks, mike. good stuff. mike santoli. when we come back, the dea

teva pharmaceuticals, sales guidance disappointing investors. retailer tjx down today, over 1%., the owner of tjmax and home goods raised its outlook but not as much as some expected. that's why that stock is off a bit. not all bad news out there. shares of advance auto parts are booming today, the biggest gainer in the s&p 500. they are up nearly 15%. tyler? >> more names being floated for president elect trump's cabinet including as you may well have heard rudy giuliani for hillary clinton's old job at state. john harwood joins us now from washington. >> that transition process is grinding on, no big announcements so far today. people are still chewing over the selection of reince priebus as chief of staff, lite of praise. steve bannon as chief strategist, a lot of criticism. we know that the front-runner for treasury appears to be steven mnuchin who was the head of fund-raising for the trump campaign, he went to trump tower this morning and while he didn't comment on a potential appointment, he sounded very much like a treasury secretary in waiting. >> we're working on the ec

. >> don't forget teva. >> and generics yesterday. not to mention just broadly speaking pharma. >> right. >> health care has been eviscerated. >> if you own health care, you need health care. >> if you own health care, you need health care. yes. that's a true statement. it has been -- it's got to be overdone, isn't it, jim? >> no. >> no? >> no, it does not have to be overdone. >> why not? >> in 1992 when bill clinton stood september 25 in front of merck, said he felt that the health care crisis were out of control, you had 18 months of drug stock underperformance and drug stocks going down for months before that. so i don't think there's any natural buyers of these stocks. that's part of the problem. what you need is takeovers. takeovers. >> on the broad market citi today i'm sure you've seen this, the tail risks of a trump victory or a democratic sweep could result in a market correction in the 5% range similar to brexit after which the investment community reassesses the environment. >> 5%? i'll take that. that'd be dynamite. >> 5%.