After the Treasury Department issued new rules that tightened Corporate Tax loopholes. And as merger and acquisition activity picks up on wall street, the Justice Department filed suit to prevent two of the Largest Oil Field Services Companies halliburton and baker hughes from combining. Lets begin with the 34 billion pending takeover by halliburton of rival baker hughes which the two companies pursued in the wake of slumping oil prices. The government lawsuit argues that deal would cut competition in the industry to unacceptable levels. Shares of both companies rose in trading today. Eamon javers is with us now from washington. Good to see you as always, eamon. Hi, sue. The doj made really pretty tough assertions about this deal. Give us some of the details. Reporter yeah, they did, sue. In fact in a Conference Call with reporters where they broke down exactly why they took this action, doj officials said it was one of the worst antitrust cases theyd ever seen and said some deals ough
And now, with the production schedule, ceo elon musk is responding to the naysayers and saying on the conference call, what i find ironic for the naysayers they transition from saying it is impossible to saying it is obvious. I say, wait a second is it obvious or impossible, because it cant be both. Who is right, chanos or musk, pete . Well, in the short term or the longer teerm term, it is chanos, and the reason i is a they is because they have had nothing but production issues for quite some time now, and the delays and the issues and now talking about ramping up, and going from 50,000 to 90,000, and supposedly getting 80,000 to 90,000 this year, and if they can get that number, it is impressi impressive. Phil lebeau has been talking about i, and it is ing a graggro get to that level, and the 500,000 level in two years from now, and it is amazing, scott. We know great drives, and people are going after the model 3, and everybody put the 1,000 down, and maybe over 400,000 now, but the
Capitalists. Its the place where the worlds most influential and wellknown investor turns business into a party. At one point teaming up with microsoft founder bill gates in a doubles pingpong match. He also gets down to business and answers questions from shareholders about his portfolio, about the markets, and he offers advice for investors. This morning he sat down with becky quick for a wideranging interview on cnbc and she began by asking him about the economys sluggish growth. Were not living in a world where i think you expect the u. S. Economy to grow at average . The gdp figures are inherently a little more suspect in terms of being precise than year over year figures. But that doesnt negate the fact that the business is slow. It is not negative but its slow. We got the chance to talk to buffet about some of his longterm holdings, some of the biggest positions berkshire owns. Some of the stocks have underperformed sharply versus the market and against their peers. American exp
Capitalists. Its the place where the worlds most influential and wellknown investor turns business into a party. At one point teaming up with microsoft founder bill gates in a doubles pingpong match. He also gets down to business and answers questions from shareholders about his portfolio, about the markets, and he offers advice for investors. This morning he sat down with becky quick for a wideranging interview on cnbc and she began by asking him about the economys sluggish growth. Were not living in a world where i think you expect the u. S. Economy to grow at average . The gdp figures are inherently a little more suspect in terms of being precise than year over year figures. But that doesnt negate the fact that the business is slow. It is not negative but its slow. We got the chance to talk to buffet about some of his longterm holdings, some of the biggest positions berkshire owns. Some of the stocks have underperformed sharply versus the market and against their peers. American exp
Eurozone may be weaker than previously thought. That pressured stocks. The Dow Jones Industrial average dropped 140 points to 17,750. Nasdaq fell 54. The s p 500 was off 18. As bob pisani points out, the very things that had been driving the market higher for nearly three months seem to be starting to shift. Reporter stocks were down today as three key parts of the recent rally reversed a bit. First the china problem. Chinas been stable recently but the Economic Data has been choppy, kind of hard to read. Overnight the manufacturing numbers were weaker than expected. And that is predictably causing commodities and commodity stocks to weaken around the world. Second dlem is the dollar, notably weak this quarter. Its been a big help to commodity stocks and u. S. Based exporters. Some are starting to question whether the dollars fall is now over. Indeed, the dollar staged a reversal today. The third problem is oil. We know that its off the february low of roughly 26. But its dropped about