Met this morning a 70 billion merger. Royal dutch shell buying bg group. Will this finally trigger energy . Tesla upgrades the model s with a starting price of 74,900. More features a larger battery has tesla shares moving higher in the premarket. It is earning season. Alcoa set to report tonight. Apple watch review season. Were going to preview both in just a minute. First up Royal Dutch Shell striking a me da deal to buy bg group. Shell says the combination would add 25 to its proven oil and gas reserves and make it the Worlds Largest producer of liquefied national gas. Heres what shells ceo told cnbc europe about the deal this morning. This is not a bat on the oil price. This deal works in a whole range of oil and gas prices. Of course we still believe in the longer run in a few years time we will see the longterm fundamentals we assert itself. We will see Higher Oil Prices than what we see at the moment. Of course, this deal will look not just very good it will look fantastic. Jim
On the top line with revenues, beat on revenues but missed on the bottom line by as single penny. This brings the focus to the entire Dow Jones Industrial average which appears to be the lone standout at this hour when it comes to the major indices. That is largely on the backs of some plastic many of us carry in our wallets and that is American Express. And max next to intel reporting earnings after the bill came out with numbers the market loved if you were watching fox business, you knew it was a big beat. Shares of American Express jumped in 4. 5 and that is spilling over to one of its rivals. This is really a company that gets a fee no matter what anybody is charging. Visa is moving higher by 41 3 . Morgan stanley was the last of the big banks to report earnings overall while profit fell by 70 . Excluding 1. 2 billion legal legs sense, the bank earned 0. 50 a share exceeding wall street estimates of 0. 45 a share. Morgan stanley over the past year has been the best performer up 51
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
Trade lower as they face the stress tests, too. And europe touches multi year lows. The ecb could ease policy as early as next week. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. And a very good morning. Welcome to the show here on worldwide exchange. Very good morning to you if youre just joining us, as well, in north america. European stocks yesterday were softer. The dow down. This morning, futures are indicating we are going to get a bounce higher on the dow by something around 17 points or so. Were pretty much half a point above fair value for the s p and the nasdaq yesterday having its worst performance in two weeks, down 1. 4 . As you can see, futures were just indicating i think we had a flat opening. The s p down 0. 7 yesterday and the dow jones average was down 0. 6 . Facebook down nearly 7 after agreeing to buy oculus for 2 billion. We saw that big fall in king, as well. Just an hour into the trading day, this is where we stan
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