Some bids today for sure. I dont expect an announcement today or, frankly, anytime too soon. Frankly, the whole process has been a bit of kabuki theater, in my opinion, and i think if im sitting there and looking at bids, ill analyze those. Probably go back and forth if im bankers and the company, to those bidders. It also sounded to me, some bidders might have needed a little more time. I expect some bids today, analyze that. Maybe a week, two weeks, beginning of august. The only wild card, i think, could be if somebody lobs in a, you know, over the top bid and says, were going to give you 48 hours to react, but i dont expect that. How high do you think the winning bid will ultimately be . Suntrust bob peck, who you know well is talking about perhaps 6 billion. Is that likely . I think bobs done probably the best work from an analysts standpoint on this whole escapade. This notes have been, i think, right on. I expect the company to trade in the, maybe, 3. 5 billion to 4. 5 billion ra
With the cash on the sidelines . Part of the rally, too. Cash on the sidelines starting to chase some is trying to get in there. Watching this market grind and continue to move to the upside. Yes, i do think there are people finally saying theyve got to throw in the towel in certain areas, at least jump into the areas moving. Look at the way chips traded. The Way Technology is trading. Energy had that dip under that 50day moving average. Look at xle. Since then, scott, watched it as oils rising seeing Energy Stocks picking back up as well. Joe, nasdaq 100, positive pe to petes point up 15 since the brexit low. Where will it find a home . Money is finding a place everywhere. Multiple asset classes. Look at performance. Year to date, european equities, dax rally 10 . The place that hasnt rallied is japan, although japan is up 8 quarter to date. When you look at the multiple asset classes, whether its Investment Grade bonds, whether high yield bonds, whether it is the emerging markets or
Quote, a person who only thinks about building walls wherever they may be and not building bridges is not christian. Trump responded just moments ago. You know, obviously, the vatican has massive walls around. We should build walls like the vatican. So perhaps he wants to move out of the vatican. Look at the walls around the vatican. Ive been there, and those are walls. Liz yeah, in fact, hes tweeting a bunch of pictures of the walls right now. Mr. Trump saying quote its disgraceful for the pope to question his faith and warning the pontiff that all talk no action politicians should put the popes security in danger. Quote, if and when the vatican is attacked by isis, everyone knows that isis ultimate trophy is probably the vatican. I can promise you the pope would have wished and prayed that donald trump were the president. Tuchls fight comes with the pope just two days head of the South Carolina primary where new polls show him in the lead and gaining ground with evangelical voters. P
A lot to focus on from those new treasury rules to disney to fed speak. Europe in the red after unimpressive pmi numbers for march. Well get ism services in an hour and oil not bouncing after kuwait says they still predict a Production Cut in doha. We begin with the new tax inversion rules threatening the pfizer and allergan deal. Disneys heir apparent, the companys operating chief stepping down. Who is next to lead . Minneapolis president going after the big banks saying its time to end too big to fail once and for all. But that wildcat victory, theyre calling it maybe the best final ever. First for the wildcats since 85. Chriskris jenkins, how do you not celebrate that shot. This is a moment you look at jay wrights team, theyre a bunch of kids who go to college and also play basketball. Thats important. You dont go to villanova to play for the heat after a couple years of not taking classes. You go to nova, get a degree. Some of the parents of the guys on the team, they went to schoo
President obama is urging congress to take actions. Sdplp ive been pushing for years to elimi some of the injustices in our tax system. Im very pleased that the Treasury Department has taken new action to prevent more corporations for taking advantage of one of the most insidious tax loopholes out there and fleeing the country just to get out of paying their taxes. While congress has been slow to act, many see the treasure departments new rules as taking direct aim at pfizers p aim. That send them tumbling more than 14 while pfizer shares rows. It was the third set of rules as urged by the Treasury Department to curb inversion. Many say this time they will succeed in stopping the biggest inversion deal of all. Im leaning with the market which suggests the deal looks mostly done as in not going to happen. Reporter the deal was worth 160 billion when it was announced last november. Thats a more stringent structure required by treasury rules to allow pfizer to invert. The new provisions w