Hurricane irma is a category 4 sthoorm cou storm. The path is still you unseuncer puerto rico and florida are areas of interest. Here are the big corporate stories. United technologies buying Rockwell Collins for 23 billion. Under the deal, rockwell Share Holders will receive 140 per share in cash and stock. Thats an 18 premium to the Closing Price on august 3rd. The Companies Say the Aerospace Systems segment would be combined to create collins Aerospace Systems which would save 5 billion by the fourth year of completion greg hayes will join our colleagues on squawk on the street later this morning that happens at 9 30 a. M. Eastern time. Lego announced plans to lay off 8 of its work force lego reporting a 5 drop in revenue for the first half of the year the company said most of the 1400 job cut also happen s wille end of 2017. And Rovio Entertainment is planning an ipo. The mobile games studio will list shares in helsinki in a move looking to boost growth the Company Finally returned
The lows down 234 right now and its a broad selloff financials are actually the hardest hit. You can see the yield on the tenyear approaching 2 . Investors are piling into safe haven assets like the treasures. Well talk to the ameritrade chief strategist on whether americans are doing buying on the dips. Mohamed elerian on whether geopolitical concerns could get worse and whether the fed could put any further rate hikes on hold as a result. Oh, boy. Right thats on the table right now as well. Lets begin with seema mody here on the floor of whats driving the selloff on wall street today seema . Kelly and bill, the calendar may say its summer, but it certainly feels like fall, a lot of traders reminding me historically september is the worst performing month as traders return to their desk goldman sachs, one of the most heavily traded names, surpassing its 30 day volume average, about 4. 3 million shares have exchanged hands. Its down just about 3. 5 , the second worth of we are forming
Join the fun run. And, boy, has it. Today, the dow scored a small gain, but it was enough for the industrial averages ninth Straight Record close and tenth consece overall gain. Not much left to add to that, so lets get to the numbers. The dow rose 25 points to 22,118. Nasdaq added 32. And the s p tacked on 4. It also closed at a record. While we sit at record levels, theres always concerns that the market is too pricey, but noted investor leon pros havent he doesnt thin gotten too far ahead of themselves. I think the market is fully value on fundamental basis. E eu. Optimism for sure. Look at all the strategists that make a forecast a year out, nobody has a down market which makes you scratch your head and worry. Cooperman also said his firms biggest position is in googles parent, alphabet. Alphabet falls into that category of big name highmomentum stocks. That group has been a major driver of the overall market, but they slowed just a bit in recent weeks. Theyre not alone. Other soca
Street. Im Carl Quintanilla with jim cramer david faber is off today we get strong retail sales for july up. 6, nearly twice the estimate europe is mixed. 10year note near iing 10. 10 no. And netflix on his strategy to beat the Competition First up, under armours brian plank and intels krzanich join Kevin Frazier in resigning from the Manufacturing Council not all of them worded exactly the same way. Thats the most important thing. Theres different constituencies mr. Frazier from merck was offended it wasnt immediately labeled as white supremacist, as opposed to extremism of all race and color. Not mentioning the president by name. And kevin plank took some heat for being on the council. His constituency is made up of not just people who are shareholders and work there but people who he hopes to be able to get to endorse. So they all come from different constituencyies. Like larry somers says, everybody should resign. It depends on your constituency. It is of no interest to the public
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