If you remember, i wasnt willing to dismiss that lousy jobs number that we got friday as easily as others. I said the clouds are upon us. Then today, the clouds burst open. The rain fell down and they flooded out all of the good news that i still thinks deserves to get some of its due. Lets accept the fact that the vast majority of the bad news stems directly from retail. What are the invisible positives . Amazingly, amazingly the market didnt seem to give a fig about an important takeover announcement. Suntori of japan, their acquisition of beam, yeah, jim beam for 16 billion. Thats a 25 premium for what it went out on friday. This deal illustrates so much of what i like about this market. Beams a spotlight ive been highlighting as a textbook breakup. It broke itself up in a couple different companies, most notably fortune brands, home and security and beam the liquor company. This was a classic situation where the parts were worth more than the whole, like so many other stocks out th
Tenyear eeled reacting to a ppi number that did run a bit hot, first rise in a few months and europe in the green at least for now. Our roadmap begins with a cnbc exclusive. With both apple and china mobile ceos, apple shares rising in early trade on the tech giants new deal with china mobile. Bank of america reporting betterthanexpected Fourth Quarter results. And as new ceo mary barr takes the helm, gm expecting pretax profits to rise modestly this year but margins remain flat until 2015 on the back of news that the automaker will pay its first Quarterly Dividend in almost six years. And elon musk taking on the government for the proper term for teslas fixes. First up, though, apple shares rising in the premarket on optimism surrounding the companys deal on china mobile. Tim cook saying it will help bolster sales in the Biggest Smartphone market and china mobiles chairman said the agreement will entail various cooperative ventures and will not be limited to iphones. Cnbc spoke exclus
A plane land at the wrong missouri plane last night. The flight to chicago midway was scheduled to land at the nearby Branson Airport with a longer runway. Nobody was hurt. Thats the good news. It is not clear whether the plane landed at the airport by accident or whether there was an actual emergency. And picking up on what becky was talking about in news around target, Neiman Marcus is saying thieves stole some of its customers payment card information and made unauthorized charges over the holiday season. No estimate yet on how many customers may be affected. Reuters reporting that target and Neiman Marcus may not be the only u. S. Retailers breached during the Holiday Shopping season. Three other wellknown retailers were hit with smaller breaches than the one that hit target using similar techniques. Walmart tells cnbc it did not suffer any Security Breaches over the holiday, so we can cross that one off the list for that. Meantime, back to becky with a lot more news on target. Tha
Senator cruzs capitol hill crusade last week on the senate floor, to this one, Silvio Berlusconis new threats that have investors all over the world getting nervous once again, strange bedfellows they, getting worried once again about europe and with european problems and washington worries, the big question this hour, should you be getting into this market or out of it . Listen to the president on tape. The senate has passed a bill that keeps the government open, does not have a lot of extraneous issues to it, that allows us then to negotiate a longer term budget and address a range of other issues, but that ensures were not shutting down the government and not shutting down the economy at a time when a lot of families out there are just getting some traction and digging themselves out of the hole that weve had as a consequence of the financial crisis. Ive said before, congress has two responsibilities. Pass a budget and pay the bills. And i am not only open to, but eager to have nego
What the heck is going on here . All right. Last week i want over the developing problems of the stock market including retail worries, chinese slowdown and weaker employment. If you remember, i wasnt willing to dismiss that lousy jobs number that we got friday as easily as others. I said the clouds are upon us. Then today, the clouds burst open. The rain fell down and they flooded out all of the good news that i still thinks deserves to get some of its due. Lets accept the fact that the bad news stems directly from retail. What are the invisible positives. Amazingly, amazingly the market didnt seem to give a fig about an important takeover announcement. Their acquisition to beam, yeah, jim beam for 16 billion. Thats a 25 premium for what it went out on friday. This deal illustrates so much of what i like about this market. Beams a spotlight ive been highlighting as a textbook breakup. It broke itself up in a couple different companies. Fortune brands, home and security and beam the li