Extend the greek bailout process. Its now official. Were going to have a lot more Additional Details on this big deal. And as we said shares of boeing slipping in the premarket. Worries about demand risk. We will bring you up to speed on that call. First up dow and the s p closed out last week at record highs. The nasdaq finished within 2 of its alltime closing high. This after that deal to extend the greek bailout by four months. The greeks must present their reform plans to creditors today. But this weeks big event is the fed chairs twoday capitol hill testimony on the economy. Janet yellen begins by going before the Senate Banking committee tomorrow. Well bring you live coverage right here on squawk on the street. Jim, is that going to set the tone for the week . Theres some retail that i think can matter. Libya came back online. There is a sense that perhaps we have a number of buyers for Oil Companies that do go under. I think thats worth watching. A lot of money has been raised.
Those days are long since over. Diner closed down years ago, and i dont even pound it anymore, except an occasional saturday night when i aint got nobody but today with the dow 293 poernkts s p falling 1. 64 , the nasdaq plunging 2. 37 , it felt like a real night at the holland tunnel diner, may it rest in peace because we saw what happens when the stove top gets too hot for even the master folks to handle. My Old Hedge Fund, the holland tunnel because that diner had a griddle to sizzling hot that you knew those eggs for the sopup sandwich would be done perfectly in nine seconds. Oh, but if you left them on for an additional for ten seconds, they were burnt to a crisp. This week we are witnessing the nasdaq griddle that got too hot. A genuine inferno, and those eggs are now charred beyond all recognition. All started on friday. Thats when i could tell the biotech eggs have been on the griddle for nine seconds and couldnt stand it another second longer without being overfried. Thats why
Meeting next week. Hertz and darden moving on pressure from activists. Darden shares higher in the premarket after reporting earnings. The iphone 6 available for preorder if you can get on the website where couples were turned down after apple. Com went down early this morning. Activist investors are making news today. Hertz reaching an agreement with carl icahn allowing him to choose three directors. Darden under pressure for Starboard Value which had 300 slides with details of ways to improve olive garden. Reporting First Quarter results today that did beat. I think the overall story of the power of activists and the fact it continues to increase in our marketplace is probably the key take away in many ways. Also stories today about third point run by dan lobes ability to raise 2. 5 billion in a very short amount of time. Mostly from their continuing investor base. Activists on both fronts of the business, in terms of influence with Corporate America and the ability, most important p
EchoStar subsidiary Dish Wireless has bagged a US$50 million grant from the US Department of Commerce’s National Telecommunications and Information Ad.
the headlines there and the markets which are mostly in the red. bernanke testifying on the state of our economy starting in just under an hour. will he be as optimistic as the members of the bank of japan which is keeping policy unchanged and push the nikkei to a five and a half year high. reporting a chelly spring is causing seasonal sales to cool. toll brothers beats estimates on an increase in orders and lowe s falls short on profits and revenue. shortening the amount of time it will keep factories lower citing a pickup in demand. the fed chairman will testify on the economic outlook before the joint economic committee. wall street watching to see what bernanke will say about winding down the central bank s bond purchasing program. we ll bring you live coverage of the fed chairman s remarks and his q & a with the committee. the fed is set to release its beige book at 2:00 p.m. eastern time. the bank of japan maintaining its quantitative easing policy and optimism