pfizer received a no from britain's arizona tra zenica, still it wasn't enough. so no deal with some pretty big questions remain about what's next for pfizer and as tra zenica. >> take it or are leave it and astrazenica left it rejected pfizer's sweetened and it says final offer. because the $1 fine billion price tag just wasn't if you have. >> we decided it's 13ri69. they needed to put more than 10% plus on the table to get the recommendation discussions. so that's the request from our shareholders. that's what we did. >> but the brushoff is leaving pfizer with an uncertain future as its plan to create the drug company hits a major road block. despite the setback, pfizer has one more week to make the offer, a deadline established under british law. pfizer says it won't, but it does give astrazenica time to pressure it to continue talks. pfizer also has the option to go hostile, which pines taking the issue wage to shareholders over the head of the board, but it says it doesn't want to. the chances of a deal completely collapsing is real. and if that does happen,

we know that pfizer walked away from astro zenica. but they take advantage of the cash and lower tax regimes. they see real value in companies and that's what you want to see. ultimately the real grist for the bull market as i told you earlier is the need to have these periodic pullbacks. shake out the weak hands. we now have major advance. so of course we're due for a little come-uppins. the same guys that apologized for going bearish are now bullish, you're liable to go lower before you go higher. they will change their minds after three down days giving you another entry point to do some buying. they're funny. the bottom line, this is a legitimate rally built on many sectors where we've overcome lots of worry. in other words, it is a bull market. and one that is not to be trifld with lightly. why don't we start with charlie in texas, please. charlie! >> caller: hi, jim. boo-ya to you. >> it's a good day. how about you? >> caller: i'm doing very well. i wanted to see if you can tell me what's going on, by the way, thank you for the

. >> for the deal, as as tra zenica rejects the offer leaving many wondering what pfizer would do nextom no deal to a done deal. at&t requires direct tv in a merger that could redefine the industry and the shape of the future of television. >>> and charged with cyber spying. for the first time ever, the u.s. has accused chine

. >> for the deal, as as tra zenica rejects the offer leaving many wondering what pfizer would do next. from no deal to a done deal. at&t requires direct tv in a merger that could redefine the industry and the shape of the future of television. >>> and charged with cyber spying. for the first time ever, the u.s. has accused c

frank, what would you do at this point when you see pfizer attempt an inversion with astra zenica, whatrder to change that infrastructure? >> in the first place, i wouldn't change the structure. the necessary that a corporation berngs all evidence points out from a great deal of person war, very influential with our world wide patent protection or our support to drug prices. for them to decide not to pay a lower rate. but to pay it to england instead of america, still being an american company and enjoying the benefits. i support some efforts to say, you cannot stipulate by some manipulations decide are you not an american company, even though you are, in fact, still in america. i think some kind of temporary change on that is a legitimate thing to do. i mean, the percentage of ownership, of foreign ownership should have to go up. so my immediate response is to not allow that kind of clear cut manipulation so that people enjoy the benefit of being american companies and pay taxes to some foreign companies, while we reduce our tax structure. >> i know defense spending. i look at ukraine,