Lets look at crude oil. Well give you the 10year note yield. There it is. Where are we . Wow. 1. 88 . Lets get to our road map. It starts with you heard meg terrell talking about it. Teva ups the ante proposing to buy mylan 82 a share cash and stock. Both shares on the rise. And a parade of dow stocks starting off with earnings this morning. Well cover it all. Ibm seals fall for 12 consecutive quarter. Is the road map now in difficulty . Want to start off with teva as i go back in my pad and look for notes i took some time ago on the possibility of this because it is complex. Lets give you the news itself. You heard it on squawk box. 82 a share in cash and stock. Making an offer to acquire mylan which would create a giant generics business. Both do a lot of their business here in the good old usa. For its part mylan made an unsolicited proposal to acquire perago, an irish company. All these companies being inverted for tax purposes. Thats working through irish takeover law. It is a pro
Several biggests on several different market topics today. And that is trader joe zikerman. Over his shoulder is highfrequency trader minaj narang. He played several trades while he tried to convince minaj that hes being trecheated. First sue whos in the house. Thats right. Thank you, ty. And were going to go directly to the nasdaq because that has seen the most dramatic selloff in todays trading session. The money may be moving into the bond market. Its decidedly, sheila, moving out of the nasdaq today. Over to you. Thats right. A very another ugly day here at the nasdaq. We were down 2. 5 on the composite on the nasdaq 100. At session lows right now. Traders say what is worrying them is how quickly we dropped today. Basically we took only 30 to 40 minutes to erase all of the gains that we saw yesterday. That kind of velocity is something traders dont like to see. As for the why were seeing such a big dropoff, traders saying you dont need a reason. You dont need bad Economic News or b
This day . Normally, things we will not get to are things we will lead with. Absolutely. History being made on wall street as alibaba makes its wall street debut with a 21. 8 billion ipo, the biggest ever in the United States. The chinas ecommerce pricing at 68 a share. Gives alibaba a market value about 168 billion surpassing disney, boeing and amazon. It will trade under ticker baba. Earlier alibabas executive chairman jack ma held court outside the big board amid hundreds of members of the press corps on hand for todays big event. Later we will bring you our cnbc interview with ma here at post 9 00. We are literally feet away from the post at which it will trade, post 8 over here. Where twit other went public almost a year ago. The crowd of press, guys, i heard at least 100 media from china alone. Well, this is historic. I say its a rejuvenation in the sense this is the deal its been a long time since people talked about a particular stock which was facebook. This is bigger than twi
Overall i would say it was not as good as the First Quarter, but still very, very strong quarter. And bp under pressure. The oil giant admitting it must raise provisions for its gulf of mexico Compensation Fund while underlying earnings also come in below expectations. Record quarterly profits, though, for sprint to acquire softbank in japan, thats thanks to big returns from mobile Games Developer gung ho online. A very busy day on the earnings front. Lets delve in. Ubs, solid performance in the Second Quarter, pretax profit of 1 billion swiss franks. Earlier, the banks ceo said the time is right to buy back the toxic assets that it offloaded on to the snb back in 2008. Take a listen. I guess the positive developments in the last few months allowed us to take this important decision for us, which we allow our capital base points the option, exercise to increase our improve our capital ratio by 70 to 90 basis points. To me, it seems like a huge success for the government, the smb and yo
Wall street traders are using things to do things they shouldnt be doing. Well show you how it works today. First though to sue at the nyse. Sue . Good to see you, ty. The market is a little bit on the dunn side through much of todays session, at least so far. Right now the dow is down 46 points. The s p is down 6. 75. Nasdaq off 12. 75, and the broaderbased russell 2000 is off 6. 25 points on the trading session. Lets talk to bob pisani about the market at this point and weve had a big amount of earnings last week. What are you watching most this week . The big thing is mr. Bernanke on wednesday. A very delicate dance to make sure were not saying too much because its got to be all words. No press conference on wednesday, and then, of course, nonform payroll reports on friday so the market is kind of reflecting a little bit of that sort of indecisiveness. You can see the dow, and this looks like fridays chart, a down day on friday but middle of the day drooped down and then kind of cam