Group of cable channels that includes cnn to get that deal approved. That could prove to be a big stumbling block to a transformative deal that was first announced more than a year ago. Shares of time warner were pushed lower on the news but shares of at t were higher. Julia boorstin takes a look at the latest twist in this proposed tieup. Reporter the Justice Department has reportedly called on at t and time warner to divest turner broadcasting including cnn or to sell directv. In order to secure approval for the deal, the doj issuing the following statement, saying, quote, the department is committed to carrying out its duties in accordance with the laws and the facts. Beyond that, the department does not comment on any pending investigation. At ts ceo Randall Stevenson says, quote, throughout this process ive never offered to sell cnn and i have no intention of doing so. The report comes after at ts cfo john stevens said the timing of the deal is now uncertain. A reversal after the
Mike santoli. Thank you both for joining us. Carl and jon have the morning off. We have news from the trump transition and john harwood. Weve just had the transition call with the Incoming White House press secretary, sean spicer. He said that donald trump around 4 00 today is going to have an Economic Development announcement that will be good for American Workers. Didnt specify what it is, said he wants to keep everyone guessing. Dont know if its Something Like the deal that he engineered with carrier to try to preserve some jobs that were headed for mexico or a new investment. Of course, he met with the softbank president who pledged 50 billion investment in the United States. Dont know what its going to be, but we will bring it to you when it happens later this afternoon, guys. And of course, it is a little bit more, john, than two weeks before we are expected to learn about what the president elect will do with his own businesses. You mention that this will likely have to do with
He sat maralago, his resort in palm beach, florida. Youre looking at a live shot where he is expected to make some remarks about the economy, an announcement that could benefit the american worker. We will bring them to you as soon as we get them. We start twauf markets in an unfamiliar color, red. There was a lot of it today. The dow falling tripledigits for only the second time since the election. Both the s p and nasdaq also lower. The dow and s p closing on the dedelows. And call it a wall of worry in todays markets. Retail stocks falling today, despite our strong holiday season. The transports taking a hit, continuing a downward trend since hitting new highs just this month. And the auto stocks lower as well. Are we finally seeing some tracks in the trump trade, or is this an opportunity to buy the dip . Tim, what do you say . As always, depends on what sectors were talk about. You talked about the market hasnt had these, its been october 11th was the last real down day we had. Wh
Julia boorstin is monitoring it. Facebook shares, we should note, volatile in the after hours session, down about half a percent right now. Despite an earnings beat. The stock initially syrininking. This follows a tough day for the tang stocks overall getting hit hard. Facebook is, of course, the last of the fang stocks to report earnings this quarter. So can facebook keep growing and is it signalling the end of the tech run . Dan nathan, what do you say . As far as the move in the after market right now, the stock down 5 from the alltime high it made early last week. So i think its pretty muted. They came in with a quarter people expected. They hit 1. 8 billion monthly active users. Heres the issue. You talk about growth. At some point, they cant grow monthly active users in a dramatic fashion so they have to squeeze out more from Properties Like instagram and whats app. We know they have other bets, working in the Virtual Reality. I suspect you start to see some monetization there, a
One stock getting a big upgrade today thanks to, get this, brown shoes. Lace up, ladies and gentlemen. Power lunch starts right now. I cant get enough yeah, yeah and welcome to power lunch. Im melissa lee. Three hours left in the quarter and stocks are firmly in the green. Were just about two points off the session highs in the s p 500, which is higher by about. 9 . Financials really helping the lead, to lead the day, thanks to Deutsche Bank. Good news there potentially. Semiconductors a big standout. Theyre on pace to close out their best quarter in 13 years. I am brian sullivan. Here is what else is happening at this hour. Hurricane matthew strengthening. It is now a category 3 storm in the caribbean. It is expected to make landfall in jamaica by monday. Consumers getting a little swagger back last month. Consumer sentiment topping expectations. And your sweet tooth can celebrate. The peeps who make those marshmallow peeps going back to work. What is that sound . Dentists everywhere