Big news in m a. Berkshire in deal to buy duracell. Walmart cautiously optimistic for q4. Cisco out with earnings topping estimates. The Company Sales forecast sends the stock lower. Ciscos chairman John Chambers is going to join us in a half hour. First up, buffet is making a bet on batteries. Berkshire hathaway agreeing to buy duracell from p g. Terms call for 4. 73. In the release adownsing the deal, buffet said, im always been impressed by duracell as a consumer and longterm investor in p g and gillette. Duracell is a leading global brand and will fit well in Berkshire Hathaway. He sat on the board. The stock had run up in anticipation of something big. This was not big enough for some of the shareholders. Proctor up about 10 this year. I think people were expecting big cash pay day or maybe a spinoff it. Dont think people should sell proctor down. This is a quintessential cash cow company. I think everyone knows the brand name is good and he likes brand names. P g might be down on
Driverless cars being a reality . Would you trust them . Well take a look at that this hour, but, first, lets go to sue who is back at the nyse. Hi, sue. I sure am ty. Stocks are soaring right now. We have a triple digit advance in the Dow Jones Industrial average. The dow is on the up side by 160 points. The s p is higher by about 12. 2 3. Nasdaq higher by 9. 5 or close to that, and the russell 2,000 is up 12. As ty mentioned, oil is really one of the big stories today. Its rallying. Its a best west texas intermediate, and brent crude is up almost 4 . It has a lot of us asking has oil bottomed . Were going to talk about that in just a moment. First, bob come on into the light. Bob pasani welcome back from florida, by the way. Pleasure to be back. We are just rallying in oil here. Oil just jumped by 60 cents in the last 20 to 30 minutes. Were at 52. Moving up. Lets take a look at the arguments. My heavened, there are such arguments today. Some people are against it. Recount is down. Ca
Billion and employs only 6,000 people. Tech leads in wealth creation, not job creation. To the weather, getting worse for some of us and yes, its now hurting the economy. Varney company is about to begin. Welcome back. How is everything . Theres nothing like being your own boss and my customers are really liking your flat rate shipping. Fedex one rate. Really makes my life easier. Mae a promotion is in order. Ood news. I got a new title. And a raise . Management couldnt make that happen. [ male announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliability of fedex. [ male announcer ] how did edward jones become one of the biggest Financial Services companies in the country . Hey. Yours . Not anymore. Come on in. [ male announcer ] by meeting you more tn halfway. Its how edward jones makes sense of investing. Come on in. [ male announcer ] by meeting can you start tomorrow . Tomorrow were booked solid. We close on the house tomorrow. Tomorrow we go live. Its a
No battery problems, they say. I want to look at the stock, up 10. I am hearing fed this, said that, janet yellen this and that, nobody went out and bought tesla because janet yellen mayor may not be printing money. Am i right . Charles i was at the garden state mall two christmases ago, they set up shop and tesla had half a car, the engine, and the line was longer than the apple store. The enthusiasm from main street was amazing. I wish every Single Person in there storebought 10 shares. Was 25 a share. Stuart but is it a diaz they. Com bubble . Charles it is not bubble but i will tell you the similarities between now and that bubble time, momentum. Winners, people chase performance to the point where even a Great Company can have overvalued stock and we are not seeing that with some of these names. Stuart mount gox, one of the Biggest Exchange websites, shut down yesterday. Some rumors of bankruptcy and may be a big theft of bitcoin. The web site is back on line this morning, not tra
For the time being. Our road map with the markets under continuing pressure after logging their worst day in more than a month yesterday. Jc penney reporting a smaller than expected First Quarter loss and nordstrom reporting a better than expected firstquarter profit. The seafood lover darden selling red lobster to Golden Gate Capital for 2. 1 billion in cash. A whale tale, the money swimming into verizon. Well explain that later on. All right. Futures as you said, you saw relatively stable after the stock markets worst day in about five weeks. The dow posted the 167point drop. S p fell almost 1 and the nasdaq is now in the midst of a threesession losing streak. During our program yesterday you saw the tenyear note fall below 2. 5 for the First Time Since last october and the russell intraday hit that official correction territory, managed to claw its way out by the end of the day. A lot felt that bounce was significant. You know what, i think that dave tepper really this was a dave te