viacom, though, the company where cbs basically said we don't want anything to do with viacom.look at viacom. it's struggling to at least stay in the green at the moment. but the fact that it's struggling speaks volumes about what's really going on with that company. slightly recovering today after tanking in yesterday's trade on the news that cbs and a merger with it is now officially in the dust. even s&p credit analysts are questioning viacom's creditworthiness as a stand-alone company. can viacom, without a merger, stand alone? i want to bring in keach hagey, and what you've been breaking here, let's get to that. when the ratings agencies, including moody's, who said, you know what? if they merge with cbs, we'll raise their credit rating. since it didn't happen, they're not doing that. does viacom have to get to the altar with some company? >> the other thing that happened yesterday is bob backish became the permanent ceo of viacom, and he has made a strong case that they can survive as a stand-alone company. we haven't heard publicly, so in january i think we'll all be lis

and that is involving viacom and cbs.ight now, the national amusements, shareholder of both companies, led by sherri redstone and wanted to them to engage in talks designed to see whether they could come to a combination has withdrawal that proposal of viacom and cbs engage in the discussions. reversing course in a sense and backing the new ceo at viacom and his plan to bring the company back to prominence and through the difficult period. and saying that she wants viacom to remain an independent company, a letter from national amusements according to people familiar with the situation is expected to be released shortly. but on both sides, sources tell me they're aware of this very event development. this after the two companies engaged in preliminary discussions and cbs yet to make a bid for viacom. mr. backus i will tell you myself speaking to investors gaining a following among those who believe he has the finger on the pulse of what may need to be done at viacom. and so, in recent days there had been a sense perhaps n

plus, viacom is walking away from a deal with cbs. we'll weigh in. and later, microsoft announcing the new fund dedicated to a.i. we'll have the ceo of its first investment in a moment. sometimes when brushing my gums bleed. no big deal. but my hygienist said, it is a big deal. go pro with crest pro health gum protection. it helps prevent gum bleeding by targeting harmful bacteria on your gums. left untreated, these symptoms could lead to more serious problems including tooth loss. gum crisis averted. generosity is its oyou can handle being a mom for half an hour. i'm in all the way. is that understood? i don't know what she's up to, but it's not good. can't the world be my noodles and butter? get your mind out of the gutter. mornings are for coffee and contemplation. that was a really profound observation. you got a mean case of the detox blues. don't start a war you know you're going to lose. finally you can now find all of netflix in the same place as all your other entertainment. on xfinity x1. >>> global auto parts supplier borg warner, is the c

we will talk about the failed merger of viacom and cbs. this is bloomberg. ♪ julie: this is bloomberg markets. it david: the fire, cbs deal has relaxed -- collapsed. shares above companies fell as the plan dissolved. joining us is the m&a managing editor. how big of a surprise was this? >> it's a bit of a surprise. we picked up over the weekend that last was reluctant to do a deal. he wanted assurances that he was going to control or have control .f the sherry sumner redstone he wanted to know he could run these might companies which are big and would require a lot of work. our sense was she was reluctant for that. she and her lawyers at her side want to make it look like they were out front and they were the reason the deal fell apart. what she the one that made the call? jeff: it's not entirely clear. we were making calls yesterday. we understand he has these concerns. to that play into her coming out? he did not want to pay a premium. there were a lot of research analyst said this was going to be a very small premium. viacom has made a

viacom saw it.s a headache he didn't want to take on. the chicken early if he is not going to control the company. and he has been very clear that he didn't want to stress shareholders. the thing that i find surprising ceo of fire kept promising it would get better. but now it sounds like it is going to get better. and sherry redstone believed it? she: it is possible that believed it or that she saw it on a road to nowhere. it probably is something in between. where she was at least content to allow viacom to stay independent. and they may have other options at this point. and so may cbs. although people assumed they were not going to combine with viacom was to combine with time warner and that may be off the table now with at&t buying time warner. you with think it would be increasingly unlikely that they could make any sort of counter bid. they are so much smaller than at&t that it seems a bit like a pipe dream. what he has always said he wants is content. he wants to merge with somebody who has c

, removing his voting role at viacom continues this transition of power.edstone is still on the board of cbs. no word from that company about whether he's planning to step down there as well. >> thank you, julia. also a few individual names we're watching this morning. oracle reporting ayn justed profit of 61 snare in its most recent quarter, one penny above estimates. sales disappointed. larry ellison highlighting growth in cloud-based revenue, especially software as a service. taking lots of shots at sales force, but investors not impressed this morning. shares down nearly 5% so far this morning. also watching shares of adobe. that company beating estimates on the top and bottom lines for its most recent quarter boosted by a jump in subscription revenue. i spoke with the ceo after the results came out before the call, covering everything from m&a to mobile. that stock down about 2.5%, 3%. but we're going to hear from him later this hour. >>> when we come back, disney looking to catch lightning in a bottle again with its latest "star wars" film. what movi

the pad, shares of viacom down 8% at this point. sherry redstone withdrawing her support of a merger with viacom and cbs. it is an absolutely ugly day for shares of ophthotech. its eye drug failed a study, more on that and the impact on shares of regener ron in the next hour. >>> "power lunch" from the nation's capital. we're just getting started. what do you have coming up? >> thank you very much. okay, two huge issues for investors, and the incoming administration. infrastructure and reform or privatization of fannie mae and freddie mac. coming up after the break, we'll speak with somebody deeply involved in both issues, congressman john delaney will join us live from the senate rotunda on "power lunch" right after this. i we worked with pg&eof to save energy because wenie. wanted to help the school. they would put these signs on the door to let the teacher know you didn't cut off the light. the teachers, they would call us the energy patrol. so they would be like, here they come, turn off your lights! those three young ladies wer

coming up, viacom and cbs walk away from a potential deal.10 cent is looking to cover the blockbuster boom. this is bloomberg. ♪ emily: the golden globe nominations were announced today, but streaming networks appear to be losing their luster. netflix scored five nominations, the lowest number since entering the awards race three years ago. amazon studios got five nominations, despite the dramatic increase in the number of original series on the platform. turning to the megadeal that wasn't. merger talks between viacom and cbs broke down with sherry redstone pulling the plug on the deal. robert bachus' role is a permanent position, leaving him in charge of the company's turnaround. lucas shaw has been covering this and joins us from l.a. with more. the company has been through whiplash over the last several months. what does he bring to the table? lucas: he bring some measure of stability. he has been at viacom for a long time but was not part of the cabal leadership. he ran the international business for about the last decade so he has a big

some news on viacom, sumner redstone.d to julia boorstin for the latest and then we'll get your comment. >> that's right. sumner redstone is stepping down from viacom's board after the company's annual meeting coming up on february 6th. the company's s.e.c. filings says redstone will remain his chairman emeritus title but will participate on the board in a nonvoting role. so he'll participate in those meetings in a nonvoting role. this comes after earlier this week sumner and his daughter shari redstone called off the merger they proposed between cbs and viacom, the two media companies that their national amusements control. and they named bob bakkish as permanent ceo of the company also naming him to the board. back over to you. >> julia, thank you. julia boorstin. jim, end of an era and some big questions about what the future of viacom is. >> right. i think what we're seeing here is the natural progression of something that's been going on now for at least really kind of over a year. and it's really the solidify kags o

viacom shares tanked on news. cbs came off the lows when reported by "new york post" that verizon communications may be interested in picking up cbs. viacom will officially appoint ceo bock bak ish as president and chief executive officer. he was there in interim basis. i want to move around because there is a lot of storied stocks. alexion shares were down 13%. chief executive officer and chief financial officer resigning one month after it was being investigated by allegations related to sales practices of one of its key ugs. that was a way underperformer if you will today. back to you. david: look at stock chart. lori, thank you. stocks having trouble gaining traction today. could the fed's likely rate hikes on wednesday be a serious roadblock on the way to dow 20,000? joaning me jonathan hoenig, capitalist pig hedge fund, fox news contributor, james freeman of "the wall street journal" jonathan is the fed holding up stocks right now? >> david, who knows. this time more than any, who knows what effect this fed

more changes at viacom, reuters reporting that long time viacom executive doug herzog who overseas comedy central and mtv, he is going to be leaving the company. that's according to sources, reuters reporting. we reached out to viacom. they have not yet given us a comment. but this would be not unexpected in the wake of bob bakhash, who was interim ceo, being named permanent ceo and the decision that viacom and cbs are no longer going to be exploring a recombination, something that the national amusements sumner red stone's company had been pursuing. it appears there are changes in the works overseeing viacom's key cable networks, mtv, vh1, logo tv, comedy central, all under doug herzog, who is reportedly going to be leaving the company. back over to you. >> julia boorstin, thank you. >>> and look who has joined the "power lunch" team today. hi, how are you? >> nice to be back with you. >> great to see you. >> a little late because my son got kneed in the head in gym class, right over the ear there. i think it is a little bit of a badge of honor, now he thinks he's in the nfl concussion p

redstone and her family do have a controlling stake in both viacom and cbs. you can see that the viacom shares have been tumbling all day, down by over 9%. what did you miss? in the latest university of michigan survey, there were some exceptions to the optimism. mainly among those with a college degree and residents of the northeast. reinforcing the extent of the divide in the country. thank you so much for joining us professor. andee it in the markets domestic all see and for policy -- foreign policy, when there are no specifics given yet on any policy prescriptions out there. i think that anyone who is trying to put logic and do anything that has happened in the last six months or so in elections is going to have a hard time. both brexit and the trump bection, people seem to voting against their self-interest. from a behavioral standpoint, is there a reason life in the absence of any real details about what trump is going to do or even have brexit is going to affect the u.s. economy, people start telling a positive story? we hear all kinds of stuff. fiscal

liz martha: viacom has struggled massively. remember when we were watching colbert on viacom? something was not right for the cbs-viacom deal. something went awry. they will have to do something with vi viacom. i know it's struggling big time. stuart: you might have heard my take talking about president-elect trump and his very conservative cabinet. my point is that's the exact opposite of president obama's cabinet and whole style of government. i'm not wrong on this. i have never seen a more conservative cabinet in my life. >> remember in 2008 we looked at obama's choices for his cabinet. there was not at single private sector person in the white house. that was a first. i remember writing about this. it was a big deal. not a single disman in the white house. now we have entirely private sector people it's a completely philosophical change. people who have actually done things and now will be running the country. i applaud that. stuart: your colleague and my friend larry kudlow, "the washington post" is taking issue with him because he doesn't have a degree in economics. mari

we think viacom has been under operated.ndervalued relative to their potential. fire column is a very large business in terms of the number channels it livers. we are moving away from a channels based business. the key brands like nickelodeon and mtv should retain their , some of thev to other networks are at risk overtime. cbs plays a strong hand by itself. we think it could lift the value of viacom. i don't inc. they need to get it done and they don't need to overpay. david: thank you so much. that is michael morris from guggenheim securities. now another sector, from media to attack. the stocks to go beating at the end of the year. down they have come back and they are flat and out. i'm going to bring in brian from morgan stanley. he joins us from new york city. let's start in an unusual place with amazon. they had an announcement yesterday that they are inventing a new kind of grocery store, you don't have to check for people inside, they see this as a major move for them. brian: the high-level level way to think about t

both sides were far a part on the value of viacom. they've been struggling turn around declining revenue. ceo wanted autonomy over the merge company and that really hurt the negotiation process. american who is have fallen behind on their mortgage payments are getting a break this holiday season. fannie mae says it will not evict homeowners between 15th to the second. there are 346,000 standings foreclosure proceedings today. those are the latest headlines on tuesday morning. maria: all right, cheryl, thank you so much. i know you were at the cowboys. i had a great time. i like to -- cheryl: i'm happy i wasn't with you yesterday morning, but it was fun. [laughter] jerry jones, the whole family was there. we had a great time. maria: we were talking about you on monday morning. we have happy about the game. [laughter] dagen: cheryl knows i hate the cowboys. america's team my backside. maria: federal reserve kicking off that meeting today. bob, i want to get your take on mortgages when we come right back fed rate hike is nearly in bag bu

news on the proposed viacom cbs merger.thman at the exchange. >> it appears that there's withdrawn requesting to approve the merger. viacom, down about 5.6%. you'll recall the two originally were in 2005. negotiations to recombine to take advantage of the best value, viacom appointing the interim ceo and part of the news this morning, he will become permanent ceo and merger talks reportedly fell through in part because les moonves only wanted to buy if he got control over the redstone voting family shares. >> the bottom line, not going to get merged anytime soon, it's down. the big story on wednesday, the fed is beginning to meet and we'll get a rate increase announcement, maybe, on wednesday. here is the other big story wednesday, biggest names in silicon valley will ride the golden elevator to trump tower and they will meet with the private sector -- president-elect. look at that, there's elon musk, a tim cook. where is mark zuck erberg. and larry page, alphabet, google. and we have the ibm ceo. and intel ceo. oracle ceo

viacom, what is his vision? what happens to paramount?e two main things is he will have to clean it up, so there will be some restructuring and job cuts, and he will push more into international viewing, a place where they might be able to boost themselves and return profitability. likely both companies feel pretty good where they are. >> two japanese companies have seen their stock drop today after being targeted by short-sellers. it has been a pretty active session for the stocks. what has been happening? >> an interesting morning in tokyo in terms of activist short-sellers. we had a report by a local activist short researcher just 30 minutes before the market opened on a large, but not maybe too well known company called smc corporation questioning the accounting, the earnings outlook, the auditor. about an hour later, we saw a report on the japanese company, and he's gone quite big, a blue-chip japanese company run by a billionaire. again, questioning accounts and -- questioning accounting and asking whether the organic growth is real

are down, that's what's happening at mtv, and it's because of heavy-handed attempts by suits up at viacom who don't know what's hip. they underestimate youth. they always have. the millennials are a lot more dynamic. by the way, a lot more pro-life than the liberal elites think they are. there was a time back in the early '90s and early '80s when mtv was interesting and countercultural and had shows that put people from different backgrounds together and tried to see if they could find common ground. but there are is one lesson i learned on mtv, eric, and it's a lesson i learned over and over again in my 40s. that's the myth of liberal tolerance. when i lived in that house, i was far more open-mded and interested in the lives of my liberal roommates than they ever were about mine. that's why we see this kind of divisive identity politics type videos that you see right now on mtv. >> let's go to juan. juan, i saw in the montage, a couple of clips we pulled out, one woman saying, and she quoted america's only great if you're white. your thoughts on this video, by the way? >> i think the vid

. >> viacom lagged, as well. that's going nowhere, 36.5, 37 bucks and going sideways for a few months. i still think, if you just back out all of the bad news and strictly on valuation compared to its peers, still way too cheap. granted i said that four or five dollars ago. i think if you're looking for a flier, risk/reward, viacom is interesting. >> after this break, the man behind the brexit, nigel farraj weighs in on trump's transition to the white house. and chief strategy officer at goldman sachs, stephen scherr. and donald trump dumps his stock. what was inside his portfolio? we have names sure to turn some heads. much more ahead on a very busy "fast money." what if a company that didn't make cars made plastics that make them lighter? the lubricants that improved fuel economy. even technology to make engines more efficient. what company does all this? exxonmobil, that's who. we're working on all these things to make cars better and use less fuel. helping you save money and reduce emissions. and you thought

i'm sure viacom and cbs are feeling pressure as well.pened -- has happened is linear tv is under pressure as everyone including me begin to consume a lot of media on tablets and smartphones, they are moving over the top and looking to the internet. scarlet: everybody is waiting to download and view their tv shows on their 4g lte streaming. [laughter] scarlet: 5g is now on the horizon for 2017, isn't it? john: it has been much-hyped ove by the way. scarlet: it is always hyped. lightning fast. lightningeally is fast, but the standards have to be set, and that is probably going to happen around 2020. what you see in telecom is a lot of people begin to build prestandard equipment for the carriers to go out and feel, try on some of the carriers. amazon will get aggressive enough to come out with what are called prestandards commercial services. they will go out and offer a higher-speed service with this sort of proprietary 5g equipment , which will have frankly, much higher speed than 4g and get, a flavor for how to drive that network, and re

. >> we're trying to rack our brains on what some situations were, and one we could think of, viacomnd cbs, and cbs looked at the problem child of the two, and via come healthier and now looking to remerge. >> yes, i feel in a way espn is a totally different beast than viacom and cbs. and that was a different time, ten years ago when the two companies split off. right now, if you look at the revenue and the profits of the media networks, that's the biggest chunk of disney's business. espn is obviously just a piece of that. this is a business that has a lot of long-term rights baked in, and from disney's perspective, you could see why they want to hold on. >> dan. >> no -- >> no, it's not. you go. >> all right. so i was going to ask, you interview iger once a quarter and probably talk to a lot of people out there. when he says espn is just fine, how do you take that? you know what i mean? what's a concern level? >> i think what was really interesting about this past quarter, when i interviewed him and he made comments on the earnings call, he really assured people. he acknowledged the

ago, cvs and viacom but obviously she changed her mind.if there is a reason she did that, is there another company that could be interested in merging? for instance, espn could make a .ot of sense all of the media companies, there is so much movement that viacom may not be the best option any longer. maybe it is something else they can do. it is totally possible. david: he has run the company for a long time. was a darling for a long time and now is not. perhaps at the end of his career, he is laying off what he has created. >> right. craft beer is different now. from a merger standpoint, it makes a lot of sense in terms of .hat he is thinking of doing something like sam adams is very profitable. it just have better margins. something like sam adams could make a lot of sense for them. and maybe they are more of a friendly buyer. warren buffett always talked about in the context of deals here. his last one was a different road to go down. dealnow how crucial his will be. have a sense of maybe what he wants to buy, the food industry with kra

>> guest: he was sometimes what viacom and their gross barney. he didn't like many people that the president. he loves the president. he was kind of grumpy. postcode katzenbach strings, georgia. you're in the area cannot paris now. >> guest: great. thanks for calling. >> i just wanted to ask you to give jasper a kiss for me and maybe shrub mafia. i am celebrating 30 years as an animal rescue foster rob. >> guest: that's amazing. there are so many great ways to help dogs including if i had a house in the yard i would do this. do you know that you can rescue or foster dogs while their owners are in deployment overseas? there's another way to help the military. >> guest: we do that as well. >> guest: i think that's amazing and i look forward to doing that in the future when i don't live 33 floors. >> host: we are becoming more attuned or relaxed about having pets. analyze, correct? >> guest: some people are surprised when they see jasper loves to go to the bank. you walk by a bank he knows. on the upper westside dogs get to go win and they have a tr

. >> and shares of viacom -- a reminder to listen to my report three times a day, coast-to-coast on salem radio network, up next, trump said that suggestion that russia interfered in our elect to help him win the white house, as he put it ridiculous. >> lou: a few thoughts on the president-elect and his unexpected patience with fools. mr. trump takes the oath of office and it looks like members of his own part crane a few democrats will play cute until he says "so help me god." mccain and graham were some of the president-elect's toughest critics. joining senators shierm and reid in calling for an investigation into allegations from the cia, sort of, that russia interests neared our election to benefit trump, sort of. trump fort weekend called the claims ridiculous. but mitch mcconnell threw his support behind a house committee probe. speak per ryan says he supports sphean ongoing probe over cyber threats from foreign governments as long as no one attempts to chief legitimize the election. mccain and graham are beyond redemption. each of them knows better than to ex floyd this moment to a

they have a vision for combined company, you have bob their, what is his vision for paramount and viacom there will have to be some restructuring and job cuts, and i think you will push more into international viewing. that is a place for apps they might be able to boost themselves and return some profitability. likely, both companies feel good where they are. japanese companies have seen their stock dropped after being targeted by short-sellers. >> what has been happening? >> an interesting morning today in tokyo, and terms of activist short-sellers. we have a report from well investments just 30 minutes before the market opened. a large but not too well known company basically questioned the accounting, earnings outlook, the auditor. about an hour later, we saw muddy waters make their first report on a japanese company. he has gone quite big. the target is quite a blue-chip japanese company run by billionaires. they are asking whether organ to -- organic growth is really there, and that sock -- stock 6%, quite a lot, almost -- and they trimmed the losses back to 2%. alphabet company se

after the bell redstone and his daughter sherry recently dropped plans to merge the company with viacomas close as 63.64 a share. lauren: shoemakers pulling the trigger on an interest rate hike but did she pull the punch bowl from the stock market parties? what investors should expect when we check in with the chief market answer list. if you want a piece of music history, check this out. bruce springsteen's 57 chevy. the one who wrote warren to run. it is up for sale. we will tell you how much it could cost you. let's check in on stock index futures after the dow fell 120 points yesterday. nasdaq futures of four, s&p also love before. you are watching trends seven -- "fbn:am," your first look at morning markets and breaking news. ♪ if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. do you remember what your sdad and i taught you. about hands only cpr? yes. uh, kind of. if you see a teen or adult suddenly collapse, t

viacom and cbs are now having discussions.seems to be a trend if you are a media company that you need more scale and want to get bigger. caroline: content is clearly king. it looks pretty tasty at what they are offering. because of the british pound it is a good time for getting in for 20% thre 21st cey fox. what are the other catalysts? alex: one is brexit. this is a bet that brexit will not be a collapsing event for whene, similar to say warren buffett invested in the united states after the financial crisis. two, the market rise from the trump rally has given fox a sense of doing this deal now will probably not collapse their own share. three is that at&t and time warner deal. i think that took time warner off the table for fox. hostile offer to buy time warner and now they are all the table so they can move their attention away from that. sky was the obvious thing. fox has been fairly public about saying owning only 39% was not really a long-term relationship. they were either going to buy the rest of it or sell off compl

. >> and shares of viacom -- a reminder to listen to my report three times a day, coast-to-coast on salem radio network, up next, trump said that suggestion that russia interfered in our elect to help him win the white house, as he put it you totaled your brand new car. nobody's hurt, but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance. this holiday, the real gift isn't what's inside the box... it's what's inside the person who opens it. give your loved ones ancestrydna, the simple dna test that can tell them where they came from -by revealing their ethnic mix. you'll save 10%-and they'll have a new story to tell. order now at ancestrydna.com and save 10%. lou: a few

viacom and cbs are now having discussions. it seems to be a trend if you are a media company that you need more scale and want to get bigger. caroline: content is clearly king. it looks pretty tasty at what they are offering. because of the british pound slump, it is a good time for getting in for 21st century fox. what are the other catalysts? alex: one is brexit. this is a bet that brexit will not be a collapsing event for europe, similar to say when warren buffett invested in the united states after the financial crisis. two, the market rise from the trump rally has given fox a sense of doing this deal now will probably not collapse their own share. three is that at&t and time warner deal. i think that took time warner off the table for fox. fox put out a hostile offer to buy time warner and now they are all the table so they can move their attention away from that. sky was the obvious thing. fox has been fairly public about saying owning only 39% was not really a long-term relationship. they were either going to buy the re

was supposed to be in merger talks with viacom because they used to be one company years ago.hey will not go forward with a merger and it makes you wonder what cbs's up to. seen posturing from some companies. what will the landscape looks like in terms of companies in the future? are we looking at distribution and content companies combined? >> i think that's where were moving toward an that has happened in europe already. the u.s. has been slow on the up the companies here are some of the bigger. they will be getting even bigger which is hard for my regulatory standpoint. is the trump administration going to let at&t by time warner. on nbc down hard universal which was done years ago so companies are moving toward that. it will come down to whether they are allowed to do this and whether it's bad for consumers or something that is beneficial. the newly created companies be involved in all these things or will it be seen as a company where distribution and content creation and advertising work together nicely? >> i think it will be an experiment we will see with at&t. their ce

media conference last week and was very bullish on the company, so perhaps he wants a chance to turn viacomd. it is a big job there, down 60% from the record peak. speaking of turnarounds, chipotle mexican grill, shares are today higher on the news that the coke ceo is leading, putting the founder insult control. this stock is down about 50% from its record peak on the breakout of the e. coli issue and it appears he has a big job ahead of him. 2206,into the bloomberg, we are going to see in blue revenues absolutely just dropping. big decline in revenue growth. it looks like, julie, that the team is going to have to turn this one around by bringing revenue backup and perhaps the stock will follow. we will see if he can. julie coleman avenue a gale, thanks so much. i cachet of documents from deutsche bank include what some investors call a smoking gun, proving that other banks were involved in a price rigging scheme. a ubs trader wrote -- going lower -- the deutsche bank responder responded -- oh dear, my boss just purchased some. work that one.to told you i would bend it lower for you. joini

viacom, interestingly, downgraded by a couple of wall street firms but, again, shares are holding up.a broadly strong market. our parent company, 21st century fox, up nearly 2% today as the final terms of a $14 billion takeover of sky news, could face regulatory hurdles. in terms of some tech today, facebook allowing 360 degree broadcasting all the way around, and twitter, the ceo jack dorsey right now talking with cia whistleblower edward snowden or periscope. let's get you back to "cavuto coast"cavuto coast to coast"." ♪ ♪ neil: all right. i do want to pursue this notion on getting the electors together six days before they meet to vote for the president of the united states and whether this information on russia's presumed role in our election process, hacking their way into that process, warrants these electors not only meeting and getting that latest intelligence, but potentially changing their vote as a result. to former army pie lot amber smith -- pilot amber smith. this bugs me at a basic level. are those advocating this position, whether russia was involved or not, saying thi

viacom shares down again today, another 2.5%. this morning. cbs not. shares are up.a weird rumor about verizon having interest. the shareholder of cbs and viacom is not selling either company except to themselves and that is not happening at least for quite some time but nobody's buying cbs or doing anything with them. >> the stock was off two yesterday and then it rallied to be up? >> yeah. >> and now it's continue couple bent upon the full-time ceo, the permanent ceo to come out and really start to talk to the street about his plans and try to get things moving there given we have a stock down, what, 11% or 12%. looking forward to getting to know him but i don't know him. people who have met him say he's on top of every number and they like that. and he certainly -- >> downgraded by a lot of people. >> he has attracted his shareholder in the form of national amusements and sherry red stone with a great deal of confidence in his plan. they can't communicate. a lot of people saying, yes, we get it but why are you going to spend this cash on this? why is it burning a

. >>> long time viacom ceo philippe demon squeezed out by sumner.he two were estranged for a while, but sherry is again heir to the corporate thrown. >>> and the biggest media merger of the decade, at&t seeking to buy time-warner, in an $80 million contribution. trump slammed it on the campaign trail. whether he tries to block it now remains to be seen. >>> from clinton's hacked cam pain, to the -- someone even mailed trump's 1995 tax return to the "new york times." but what every leaked. raw footage from the apprentice. >>> number 6, goodbye gawker, a lawsuit regarding -- >> the $140 million sex tape. >> a multimillion dollar judgment forceded him into bankruptcy, a warning to journalists everywhere. in a surprise twist, silicon valley peter teal said that he was the money behind the lawsuit. >>> number five, fakes news stories, hoaxes on the web, polluting facebook timelines and twitter streams. some wonder if it helped tip the scales for trump. >> we don't think it swayed the election, but we take that responsibility really seriously. >> facebook

viacom naming bob baker as ceo following tends of talks to merge with cbs.e's been acting ceo since the departure of tom dooly. >>> few other stocks to watch. verifone earns and revenue expected to top expectation. jetblue ref view to fall. urban outfitters, net sales are up by low single digit so far. analysts have been looking for an increase of 1.5%. that was taken as good news. urban has been volatile. lately had it a rough quarter but still one of the best performing retailers of the year. when we come back this morning's top political stories including president-elect donald trump's pick for two key cabinet posts. state and energy. story of the day. we'll be right back. you get used to sweaty odors in your car, you think it smells fine but your passengers smell this... eliminate odors you've gone noseblind to for up to 30 days with the febreze car vent clip break out the febreze, and [inhale/exhale mnemonic] breathe happy. >>> good morning. welcome back to "worldwide exchange". if you're just getting up let's get you up to speed on market action. the d

. >> sheri redstone walked away from merging viacom and cbs. now is not the right time for a tie up according to source for the "wall street journal". one of the reasons for the reversal was redstone's faith in the strategy of the nuvi come ceo. >>> and fox well only need 48% of sky shareholders to approve the deal. sky is set to keep their ceo. >>> billionaire bill gates has launched a $1 billion fund called the break through energy intra fund. focusing on combatting climate change. don't miss an exclusive interview with mr. gates today on cnbc at 1400 cet. no stopping it. >> got toad mayor that. >> amazing. >> it will be interesting too coming at a time when people are worried about the goals not being followed through by the united states under a new administration. be very interesting to see how he wants to do that and what sectors. >>> e-mail the show. get involved. good morning to all of you. the address "street signs" europe @cnbc.com. you can also follow us on twitter @"street signs" cnbc. >> find me at nancy cnbc. >>> still to come out

ca >> caller: hi, i own viacom, should i boy it or sell it? that guy is doing a good job over there, let's move this. how about john in kentucky. john! >> caller: hey, thank you, jim a. big hillbilly boo-yah coming at you. >> there you go. caller: the stock i got right now is bristol-myers. >> bristol-myers is good. i think the stock has gone too far north after that optivo didn't go well. be careful. how about troy in michigan. troy! >> caller: boo-yah, cramer. >> boo-yah. >> caller: hey, i want to get your -- what's your opinion on nokia? nok? >> doing fine, sell, sell, sell. i'm kind of neutral. ha, ha, ha. sell. how about craig in washington. craig! >> caller: boo-yah, jim. my stock's united reynolds. you got a target? >> stock was a buy in the '60s, in the '70s, it's too rich for me. lisa. >> caller: how are you? i am doing great. i love your show. my question is on bob evans. >> i think it's still worth a lot on its own, i think it's a good company. i like to eat there, by the way, we could use one nearby. jake in maryland, jake. >> call

. >>> number eight, corporate media maneuvers, viacom ceo squeezed out by sherry redstone, the daughternged for a while, but sherry is again heir to the corporate throne. >>> the biggest media merger of the decade. at&t seeking to buy time warner in an $85 billion marriage. donald trump slammed the deal while on the campaign trail. whether he tries to block it now remains to be seen. >>> number seven, the role of leaks, from wikileaks exposing hacked clinton campaign emails to the bombshell "access hollywood" tape. >> grab their [ bleep ]. >> some mailed trump's 1995 tax return to the time. but what never leaked? raw footage from "the apprentice." >>> number six, good-bye, gawker. a jury ruling that the gossip site invaded hulk hogan's privacy. >> the $140 million sex tape. >> a multimillion-dollar judgment forced gawk near bankruptcy and the flagship site was later shut down. a warning to journalists everywhere. in a surprise twist, silicon valley billionaire peter teal revealed he had been secretly bankrolling the lawsuit, his revenge for what he believed was gawker outing him in 2007

sending viacom shares sharply higher right now. also, changes coming to chipotle's board. the company replacing four board members as part of a deal with pershing square. and housing starts falling 18.7% in november. that drop bigger than expected. a busy, busy two hours ahead. and once again, we're going to kick it off with the dow's flirtation, chilling a little bit today, with 20 k. right to bob pisani on the floor of the new york stock exchange. >> i think it is time for a pause. i believe the optimists are in charge. it is getting choppy and tough to read now. let me show you the dow laggards and leaders. our leadership group, the financials, but guess what is having a little trouble today? the financials. look at goldman sachs, jpmorgan and another leadership group recently, tech, having a little problem as well. intel and cisco on the downside. consumer names not doing as well. dow leadership. remember what is having troubles in the last few days. we would talk about the industrials falling back. guess what is a leadership g

longtime viacom ceo squeezed out by the daughter of 93-year-old sumner the ailing patriarch shareholdere two were estranged for awhile but sherry is again heir to the corporate throne. and the biggest media merger of the decade, at&t seeking to buy time warner, the parent of cnn, in an $85 billion marriage of content and distribution. donald trump slammed the deal, while on the campaign trail. whether he tries to block it now remains to be seen. number seven the leaks from wikileaks exposing past clinton campaign e-mails to the bombshellac ses hollywood tape, secret spoofs rocked political journalism this year. someone even mailed trump's 1995 tax return to "the new york times." but what never leaked? raw footage from the apprentice. number six, good-bye gawker. a jury ruling that the site innovated hulk hogan's privacy when it published parts of the sex tape featuring the former wrestler. a multimillion dollar judgment forced gawker into bankruptcy and the flagship site was later shut down a warning to journalists everywhere. in a surprise twist, silicon valley billionaire peter thiel

for me, that's cbs and viacom.here's so much uncertainty, why would you expect something to go back to its historical valuation? >>> the once left for dead dry ship surging more than 2,000 in november only to give back all those gains. breaking down the move is a man who captivates our attention every day, cnbc's dominic chu. >> i do try my best. that roller coaster of emotion, wild swings between massive profits and massive losses, is back at it again. dry ships has managed to get back to a $6 million valuation after a 25% run in just the last a couple of days. a $4 stock a couple of days ago, it's five bucks today. trading volumes are surging, traders are left wondering why so much traffic in a stock that saw a rise from $4.50 to $100 mid-month only to see shares collapse back to four bucks and change. this interest in a stock with such tiny market value and a recent history of generating outsize losses has been ramping up among retail traders. for better or worse, the stock was active last week during the kickof

what else could potentially be out there that once viacom buys this thing will be viacom's liability.is the unknown that is probably also causing a lot of concern within verizon. they can probably get a handle on what the economic cost was of these hacks but the question is what else is out there. david: when you talk about other possibilities in the media, we talk about big content companies. moonves.n with les wouldn't it be of some interest to buy them? he did not rule it out. listen to what he had to say. >> i can imagine there are plenty of people out there, especially when you see at&t paying a lot of money for time warner, a company like us would be very valuable in the open market. they weredid not say for sale and i asked if there were any discussions, and he said he was not going to talk about that. what companies are of interest to cbs besides ryan -- verizon? paul: we think there will be consolidation on the content side of the media business following a period of amc,lidation on the -- there are a lot of smaller and midsized content companies that are probably thinking ab

. >> kev, what's your view on viacom? you got sumner redstone leaving the board. doesn't want the deal with cbs where, what do you do with this? >> i'm hoping shaer redstone eventually now that her dad is leaving the board brings some adult supervision into this name. you know, just the last ceo they whacked they paid him $95 million in comp. the new guy is only getting $12 million. i hate story stocks like this. there's too much moving parts and drama. i'm a content guy. if she brings in more of an adult supervisory role, give me a couple of quarters where they don't miss, maybe i would look at it again. it's been such a hair ball. >> doc, what do you do with chipolte? they get four new board members. >> they're acquiescinacquiescin. >> do you buy the stock based on the board changes? >> no, i don't. and, in fact, deutsche just, what, beginning of the week i think deutsche came out and said they have a $280 tarlgt. not $390 where it's trading here. not saying they're going to be right. i do think that you'll still see some tax loss selling over the next couple of

sumner red stone and daughter sherry red stone have stopped approaching a merger plan to combine viacomt have been split over a decade and part of a huge public campaign to bring them together. we're hearing from the red stone family which holds over 80% of the voting rights in both firms they do not think the timing is right. a huge departure from comments from sherry redstone last month that she thought the timing had never been better for the two to come together. they named an interim ceo as a permanent ceo. >>> making big news in the clean tech space, billionaire investor bill gates announcing a $1 billion new climate fund, going to be investing in everything from clean energy products, transport, and everything having to do with combating climate control. we're seeing other big names involved in this investment, including amazon ceo jeff base zoes and alibaba chairman along with a linkedin chairman. bill gates will be discussing more on this clean tech fund in an exclusive interview on cnbc at 8:00 a.m. eastern time. >> he's concerned under trump administration, less is going to h