Commodity trading. Lots of damage to report in the new york city area, more than 50 homes were destroyed by fire last night in breezy point queens. Just east of cone any islands, more than 170 firefighters were on the scene. And separately more than 200 patients were evacuated last night from new york universitys Medical Center after power went out. Patients some on respirators operating on Battery Power were taken to other hospitals. And check this video out. A crane on this luxury high rise building, thats under construction, topping over on 57th street, the 90 Story Building looks over central park. Luxury apartments telling for tens of millions of dollars. The crane could be seen blowing in the wind for most of the night and officials there trying to figure out how to get that down eventually. To find out how much rain and wind sandy will be packing and where its heading next, jen carfagno has the forecast. Between morning. So we are still dealing with central winds of 65 miles an
Indicators. And friday, existing home sales. As for earnings central, watch for reports today from cocacola, medtronic, more weejance cruise lines and others. Then this afternoon, were going to hear from Companies Like herbalife. Ahead of all that activity, lets take a look. Its a mixed bag, plus or minus the flat line either way. Scott, it is a short week, but it is a busy one. Europes activist is reportedly in advanced talks to acquire forest laboratories. Forest value the it up to 25 billion. That stock is up about 18 . And the deal could be announced as early as today. Mine while, hp executives reportedly knew about autonomys Accounting Practices months before a whistleblower flagged them. Youll remember hp said it was a victim for having paid 11. 1 billion for buying autonomy in 2011. But it was accused of overstating revenues before it was sold. They said a report was provided to hp after it bought the british softwaremaker. Hp shares, mean wile, at the close of trading on friday
It looks like were looking at a lower open for the dow. As for the action in europe, really, the action focuses on italy where theres an impending political regime change. More on that in just a moment. The road map starts at the golden arches. Mcdonalds blowing out expectations for november sales after the dismal drop in the month of october. Hoping to fuel the rise, the bacon onion cheddar sandwich. Theres one thing for certain, taxes on top earners are going up. Turmoil in italy. Berlusconi throws his hat in the ring. Retail Sales Numbers out of china, hoping the economy is in fact on an upswing. Apple, enthusiasm. Jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the premarket. Well start with mcdonalds, posting better than expected november samestore sales, global comps up 2. 4. U. S. Samestore sales up 2. 5, offered by breakfast offerings, including that cheddar bacon onion sandwich, as melissa mentioned. Jim . People are saying the u. S. Maybe
Red across the board on some weak u. K. Cpi. Respectively sitting at or around new highs, the nikkei logging its best gain in two months. Apple puts ice new ipad retina on the market. And walmart steps up the competition. Another record close for the dow. The s p finishing just a fraction high of the alltime high. The nikkei closes at a high. And up say, jim, the dips are bought again and again and they are. A lot of times its just the intra day dip. Something might happen, a piece of data comes out and people say this is my chance. Theres a classic downgrade today of fedex. Fedex has been on fire. That deal with amazon and the post office, that is bad for fedex. Watch that stock. That will be the tell. It will go down a little and then buyers come in. Buyers cannot resist the transports. The downgrade of fedex to a market perform, they raise their price target from 136 to 117. They dont even mention the amazon ups deal. They say the value is outpacing demand i say thats convincing, i
Make it to the house and what the next step is. Coming at 6 40 eastern time, red hat has been red hot. That company reporting Quarterly Results and we have the ceo. At 7 00 a. M. Eastern time, we will welcome our guest host, roger altman and barry knapp. We have Thorsten Heins joining us, as well. Our big story of the morning, it could be a tense days for the markets as the resolution to the physical cliff appears less likely. We can see the futures opening at least 150 off if things keep up the way they are. House Speaker John Boehner failing to mount enough support for his plan b that would raise taxes only on families earning more than 1 million. The president vowing he will press ahead with congress to get a deal done. He wasnt going to do it, anyway. What does he mean it will press ahead . I dont know. Because it wasnt going to go to the senate. But to me, the demonstration that boehner didnt have the support you thought boehner never had the support for this plan . No. Im saying