i'm joined now by tim armstrong, the ceo of oath of verizon company. >> we're out here every year andat's right. just before we get to what's going on with oath and verizon and that changing landscape, we have to talk about the m&a news. we're expecting comcast to come up with a higher offer for sky what are you expecting >> i think there's an expectation that there's going to be more m&a across the board just in terms of the media landscape. you know, there's been a lot of deals that have already happened there's a lot of deals in process right now. there's only a limited amount of beach front property out there i think that when you think about what you're seeing in terms of bidding cycles and things happening today, they're trying to stay with consumers and scale. so i think, you know, wouldn't be surprising if you see, you know, more things happen and, you know, more pricing changes, deals. at verizon and oath, we've taken our strategy going after digitals i think our strategy is clear. m&a really targeted where the linear world is right now. but i think it's a very active time i

than other pharmaceuticals with most of the burden of the cost -- -- allan coukell is here and tim armstrongrts. give us the overview of pharmaceuticals. they're consuming more and more of the health care dollar and it keep going in this direction. pharmaceuticals are not the biggest share of health spending, but the fastest-growing share of health spending, so right now, prescription drugs account for total healthof care spending in the u.s., and as a country, we spent north of $450 billion a year on drugs. david: the u.s. investment and costs of pharmaceutical drugs show that we far outstrip everywhere else. but if you look at life expectancy numbers, i am not sure it is delivering. tim: we spent more on prescription drugs than other countries. in large part because other countries are less willing to pay them we are, and they put a range of different policies in prices andld down away we have not here. david: why are the costs so high? people are willing to pay to much, so drug makers can charge that much because the research investment must be equal? tim: it is really complicated and rea

. >> we have cameras there and julia has talked to tim armstrong about the environment now. we'll get you to idaho later today. >>> pfizer gives in to the white house. the drug maker delaying price hikes in response to the pressure from the president. another look at the premarket as the dow, s&p, nasdaq all have four-day win streaks and up eight out of nine. "squawk on the street" back in a minute still nervous about finding a new apartment? yeah... but popping these things really helps me...relax. please don't, i'm saving those for later. at least you don't have to worry about renters insurance. just go to geico.com. geico helps with renters insurance? good to know. been doing it for years. that's really good to know. i'll check 'em out. get to know geico. and see how easy homeowners and renters insurance can be. >>> big week as we await bank earnings on friday got close to 2800 yesterday. some argue the number is key futures are down 200 on the dow. we'll get cramer's mad dash and count down to the opening bell in about ten minutes let's get started. show of hands. who wa

we kick things off tomorrow morning with tim armstrong.of convergence right now. then we have a publicist coming in, ambassador l brands, and a personal highlight for me, sebastian is coming on to talk about flying cars. >> looking forward to that. all right. and joining us from sun valley idaho, joining -- join us for the special coverage at sun valley starting tomorrow. this is bloomberg. ♪ julie: today, we are joined by kevin kelly. i know you have been watching some of the slow's here which will be quite interesting. in particular, what is going on with utilities. yesterday, a blood that in utilities. pronounce seeing that options. up and you areng also seeing a lot of their sentiment happening in the utilities space. or .8 times the amount of puts versus calls. that is understandable if you have seen utilities rise about 11% over the last month and they are safety trades. now -- but then if you flip -- conversely you go over to where all the bullish at vivid he is, where is all the financials. >> there is a little bit of a flipping he