choice hotels coming out and launching a hostile bid to acquire wyndham hotels, and $7.8 wyndham, and16% with the news. choice said it's making the talk public after wyndham decided to end the talks after six months. choice hotels says they are surprised and disappointing that wyndham decided to disengage and they said they were in a negotiable range with price and consideration with wyndham a few weeks ago. again, making this hostile bid public after negotiations between the two fell apart. choice hotel stock down 2.3%, and wyndham hotels up by close to 16%, and we will continue to monitor this. >> it's an interesting transaction, and just the cost savings created and the loyalty programs. i wonder if those kinds of programs matter as much for these kinds of hotels, which are considered more middle tier. it's an interesting development and we will keep our eyes on it throughout the rest of the broadcast. >>> in the meantime, let's get over to frank holland with the premarket movers. >> bank of america shares are up after they beat on revenue and profit, 10% above estimates. and bette

choice is asking wyndham shareholders to approve the bid which offered a 20% premium to wyndham's last closing price. "the wall street journal" reporting minutes ago wyndham will officially reject the takeover offer. both stocks halted. wyndham had been up 10% ahead of that halt. >>> the semiconductor names are seeing a big move lower with the semi etf seeing a drop off the lows on the back of news that the u.s. is planning to further restrict chip exports to china over national security concerns. kristina partsinevelos has been following this one. what do we know? >> these new export controls are not meant to impair china's economic growth but stop its military from advancements in a.i. this is according to commerce secretary raimondo. a year ago they first introduced export controls to china and the commerce department today is broadening that scope to include more advanced computing chips. companies that also want to export chips to china or other embargoed regions will now have to notify the u.s. government. additional chip equipment will be restricted impacting names like kla and

wyndham is up more than five fold versus 159% for choice.told "squawk box" this morning about the deal. >> so by bringing the two companies together, we believe that through direct bookings, lower operating costs and a much more robust rewards program, we have an opportunity to help our owners really improve the value of their assets and return on investment. >> wyndham has rejected choice's offer, saying the proposal presents unacceptable risks to shareholders. wyndham is about 8.5% higher today, but the price is trading way below the $90 deal price. now over to tyler mathisen for a news update. >> thank you very much. a hospital was bombed in gaza this afternoon. the palestinian health ministry reports initial estimates of at least 500 casualties in what they say was an israeli air strike on the baptist hospital in central gaza. the israeli military has not yet commented. nbc news has not independently confirmed the report. >>> russia's parliament removed towards revoking the ratification of a nuclear test ban treaty. the country says the

wyndham right now is at a $74.97.aid it first made the bid for the parent of days inn hotels way back in april. wyndham's board of director didn't like it then, they don't like it now. they rejected the latest offer calling it, quote, opportunistic saying it undervalues wyndham's future growth potential. vmware shares on the move as fears grow that chinese antitrust regulators may take additional time to finalize e the sale to broadcom, down 7.33%. broadcom, uric -- down 2.5%. last year broadcom said it would acquire the cloud computing company in a $61 billion cash and stock deal. the transaction could also be impacted by what we already told you, today's decision by the u.s. to further restrict the sale of nvidia's high-end chips designed specifically for the chinese market. >>> the u.s. department of commerce says the new rules are intended to close loopholes that popped up after last year's restrictions on a.i. chip exports went into effect. those earlier restrictions banned the sale of nvidia h-100. that is the p

wyndham acknowledges strategic rationale.his is at least what they say in the release, and that terms were within a negotiable range, but it raised questions regarding the value of the stock. about 45% of the overall and timing for obtaining regulatory approvals. wyndham shares are up nicely. choice, of course, is down. it is a delaware company. there is no staggered board, but this is not going to take place, mike, if anything were to happen in terms of moving on that board until at least the spring. so we've got a while to play this thing out. >> for sure. david, the choice ceo's rational neal on the multiple they're willing to pay, it makes sense. $90 is a couple ticks above the all-time high trading price. so often that's a gambit. where you say we'll take you out of the highest price you ever fetched in the market. at least there's a starting point for this process. of course, the equity component of the market being the factor you can't necessarily know ahead of time. >> again, sarah wyndham did sort of engage in negoti

choice hotels unveiling a $7.8 billion takeover deal for wyndham.s been trying for months to get a deal done, but wyndham keeps saying no. today's offer for $90 a share and a mix of cash and stock. both companies catering to budget-minded travelers. karen, what do you make of this one? >> it's interesting. it revealed they were in talks, but the most interesting thing is, wyndham's response, which they called the deal underwhelming. and they choose those words carefully. it was not, we are not for sale. pay us more and we'll do it. >> very interesting, yeah. words can mean everything in this market. we'll see what happens. >>> coming up, we're rolling out the red carpet ahead of netflix earnings. the streaming giant reporting tomorrow after the bell. we'll get the scoop on how options traders are epin prarg, when "fast money" returns. this is american infrastructure, a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends these services for everyone who lives here. ♪ >>> welcome back to "fast money.

lauren: wyndham and choice hotels. a hostile bid for wyndham, $7.8 billion, that's $90 a share why wyndham's stock is up 12% right now. they're putting together popular names in the budget arena. is so it would be econolodge are, comfort, days inn, if this goes through, they would all be housed urn one roof. so you'd have the high edge, marriott with, hilton, etc., and then the budget -- stuart: that's a pretty comprehensive list of hotels under one umbrella. lauren: yes. eight names that are all familiar to me. don't ask me. stuart: i know 'em all. snap, look, they had a very big rally yesterday, up 12%. down just a fraction. what was behind the rally? lauren: the ceo, evan spiegel, sent out an internal memo. why would you to that, but it was great. it was so optimistic on the number of daily active users, and ad revenue growth, they said ad revenue could increase 20% next year. overly optimistic? they report earnings the end of the month, october 24th. i'm just -- why did he sent send out that -- stuart: because he'l

wyndham hotels says it's rejecting a takeover offer from choice hotels.m saying the deal involved significant business risks a nond in the best interest of shareholders. wyndham shares up 8% while choice is down 5%. >>> ohio's jim jordan fails to get enough votes to become the next speaker of the house. emily wilkins is live in washington covering it all for us second by second. emily? >> reporter: round one is done. jim jordan has 20 republicans who decided to vote for someone other than him. that is a far cry. really jordan can only afford to lose four republicans if he wants to be able to win the gavel. he still has a good bit of work to do. right now the house is in recess. they haven't yet called for a potential second vote yet on speaker, but a lot of concern seems to be coming for more moderate republicans. these are republicans, many of them, who either flipped seats and helped the republicans get their current majority. a lot to need to appeal to independents and a lot worry they'll struggle to do that with jordan in the speaker's chair. he helpe

take a look at wyndham hotels. it's up 10%.n: the "wall street journal"'s reporting that the they have rejected the choice hotels takeover bid that was valued at $7.8 billion or at $90 per wyndham share representing a 0% premium. -- 30% premium. wyndham say says it undervalues their growth potential. this would have combined travel lodge with quality inn and the like. stuart: so they want more money. lauren: probably. stuart: lockheed martin, they've got to be doing well. >> they're up not even 1%. stronger earnings, sustained demand for weapons when we have geopolitical tension right now. the war in ukraine particularly prompting the restock thing of arms and ammunition, but the stock is not surging. i think because investors want an update on the f-35 fighter jet and the next generation of it it. there are supply chain issues with that. that's a big moneymaker. where does it stand? is. stuart: okay. lucid, i believe they make luxury electric vehicles. lauren: expensive one. delivery numbers disappointed, they delivered 1,457e

those concerns and that's why wyndham rejected the offer.ou can see wyndham hotel shares down by 74 cent. >>> when we come back, jim jordan's first speaker vote fails but he tries again later this morning. we get the latest from jake sherman of punch bowl right after this. >>> former speaker khem joins us live from washington. you're watching "squawk box," and this is cnbc. personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. mlb chooses t-mobile for business for 5g solutions... ...to not only enhance the fan experience, but to advance how the game is played. now's the time to see what america's largest 5g network can do for your business. the power goes out and we still have wifi now's the time to see to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-r

what do you see a couple who do i live in a wyndham, h a z, mccord. i'm got this week. i'm running up a full p was up as a what do we don't want to access the site? let me just come to know my time because someone mentioned that the 2019 mental health of law you had the act has been passed, right. which means it's mounting to low. so i mean, it also has to get the full protection non discrimination of people struggling with mental health. but is this a progressive attempt on the side of the government looking at where you've come from? the last that you had from my perspective? no. when you go to the police station and report something, the moment you say you are a mental patient, you get read acute. the police don't take those things seriously. it's like these laws have been passed, but then not being implemented. i am for lack of a better way to be disappointed for to hear that you have devaluing that mental health act to that level. we've been uploaded for that mental health act, and that was a huge step for mental health because it's protect it per months. but the a

against sepp straka, and why god is one up against and bob mcintyre has just gone one up against wyndhamom of the scoreboard, but it has been an interesting morning. you at one stage very much in control, but as i say, america had been fighting back, so who knows, we could still be in for a bit of drama. �* , ., ., could still be in for a bit of drama. �* i. ., i. drama. and you mentioned, you hinted, andy. — drama. and you mentioned, you hinted, andy, at— drama. and you mentioned, you hinted, andy, at the _ drama. and you mentioned, youj hinted, andy, at the controversy involving a couple of golfers from after yesterday's four balls. has there been any sort of extra fallout to that today?— to that today? well, 'ust to remind --eole to that today? well, 'ust to remind people about h to that today? well, 'ust to remind people about it. _ to that today? well, just to remind people about it, there _ to that today? well, just to remind people about it, there was - to that today? well, just to remind people about it, there was a - to that today? well, just to remind people about it, there was

cards with perks fees on credit cards much higher visa down 1.3% in premarket, a public offer to buy wyndham7.8 billion dollars, that deal was rejected saying too risky undervalued both budget hotel owners in talks for months before choices latest offer 90 dollars a share now 30% plan to closing price the day prior. as we continue to celebrate your 30th on air anniversary congratulations some faces are familiar. >> maria, hello from maryland my backyard, congratulations, on an incredible 30-year run on air. and much more to come i am sure. >> maria congratulations, on 30 years in the television news industry, that is such amazing accomplishment, pleasure to work with you last few years on fox business, also, to follow your storied career. >> very prepared, o he filling in for her she made sure, because they couldn't be here thank you. thank you so much for that, thank you for being here, celebrating this amazing we've gone by like a snap first time on tv october 18, 1993, incredible thanks. >> i remember coming to see you on the interior of exchange you were in that in the above it, your off

senator but chair of the intel committee is have a lot of confidential meetings sells his law like wyndhaml, investments that would be hurt by let's say a global pandemic but then he calls his brother-in-law and within one minute of hanging up the phone with richard berge, brother-in-law calls his broker and dumps ... is stopped ... ats it certainly has the appearance of impropriety. it looks like the game is rigged. and again, that is what i think is i don't blame problems on this, but i think it is contributing to the erosion, trust and liberal democracy. is there any scenario that you >> is there any realistic scenario that you can see from blind trust inn which he weakend those members to remain separated -- weekend remain separated? >> in 2012 congress finally passed the s.t.o.c.k. act which made it illegal to engage in insider trading. until then it wasn't illegal if imagine. since 2012 it's been illegal to engage in insider trading and obviously the problem has not gone away. in fact perhaps it's gotten worse at that it certainly has not gone away. now some of the politicians that b

the team of patrick cantlay and wyndham clark had to go 18 holes to edge mcilroy and matt fitzpatrickatic birdie by cantlay there at 17 going into tomorrow's singles session. europeans have a five point lead over the us. no team has ever come back to win the whole thing and the singles matches after that big of a deficit. what was going on there? well, mcilroy took issue with the fact that cantlay's caddie got in his line as mcilroy was lined up for a putt that would have tied the match. well, they're going to see each other tomorrow and they're pretty well known with each other now. familiar. thanks joe. looking forward to that 40 49ers game and thank you for joining us for the 10:00 news. stay up to date on all the stories we're announcer: tonight on "don't forget the lyrics", this ohio waiter... braeden tuttle: come on! announcer: is going to take an emotional rollercoaster ride. braeden tuttle: i'm in a happy mood. struggling a little bit on this one. i love it, i love it. announcer: that could lead to $1 million. braeden tuttle: it's an overwhelming feeling, really. announcer: wi

to a lot of top secret confidential meetings, information dumps, all of his stock in things like wyndham hotel, places that would be, you know, investment that would be very, very hurt by it. let's say a global pandemic that's bad enough. but then he calls his brother in law and within minute of hanging up the phone, richard burr, his brother in law calls his broker and dumps his stock. yeah. so coincidence seems a little bit suspicious. me but here's the thing. whether is insider trading or not, it doesn't really matter in the sense that the damage done to anybody paying attention is it certainly has the appearance of impropriety. it looks like the game is rigged. and again, that is what i think is i don't blame problems on this, but i think it is contributing to the erosion, trust and liberal democracy. is there any scenario that you can see for blind trust in which we can trust members to invest but remain separated their holdings when they legislate? i don't think so. so in 2012, congress finally passed the stock act, which made it illegal to engage in insider trading. i guess until

going to play three rounds and the team with the most points will move on and play for a stay at a wyndhamng) - [thomas] what. - yes. let's kick things off with a quick draw for 100 points. everybody grab your buzzers. thomas likes to take some deep breaths before we start the quick draw. (quick breaths) okay. rishi's helping him. here we go. (laughing) everyone ready? - oh yeah. - yep. - let's see it. - [jerry] raheem? - a skirt. (buzzer) - so sorry. that was incorrect. team orlando's gonna watch this unfold and buzz in when they think they know what it is. (buzzer) - orlando? - kilt. (bell dings) - that's right, for 100 points. it's a kilt. i mean in raheem's defense the kilt is a form of skirt. want to apologize to all scottish people who just heard me say that? (laughing) alright. this round is called sketch or steal. teams are going to alternate drawing correct guesses and steals are worth a 100 points. our first category is cock-a-doodle-doo. - oh - things on a farm. things on a farm. orlando, your team won the quick draw. would you like to draw first or would you like team thomas to