Halting max production plus, iff is merging with duponts biosciences and nutrition unit it is a deal that will create a new consumer giant valued at more than 45 billion. Iff ceo and duponts executive chairman will be joining us to discuss the deal in just a few minutes. And record rally, the iss p and nasdaq new highs lets start with boeing, moving lower in the premarket, the journal is among those reporting that the company is considering suspending or cutting production of the 737 max. In response to the story, boeing issued a statement to cnbc saying it would continue to assess production decisions based on the timing and conditions of a return to service for the max. And as we know, guys, faa last week through cold water on that return happening before year end. Right i think that this is something that some people say it is a foregone conclusion. And that the reason why you didnt see this before was that the way that accounting works, something i think a great cfo would understan
Corporate welfare, spending billions of dollars to guarranty the Richest Companies in the world but where is your part . All that and much more on making money. Charles stock of the day, folks Charles Schwab, Td Ameritrade jumping on news, fox news learn the two plan to merge. Jackie deangelis on the potential take over. Good afternoon, charles. That is a lot of green on the screen. I realize what im wearing here but our colleague Maria Bartiromo did break this news this morning. Im waiting for companies to confirm it. Charles schwab is expected to buy Td Ameritrade for 26 billion. Combine the companies together, the assets are worth five trillion. Which puts the combined company in a Different League in terms of the competition. Ceo Walter Bettinger will run the new companies. The theme of the industry is consoledation. The current environment has been pretty tricky for these companies. Commissions eliminated. Schwab was one of the First Companies to do that in october. Flipping table
Tweet me jim kramer the worst hit, tech especially the cloud plays that were roaring hard not that long ago. They were crushed and the worst part, i dont think that the selling is over. Yeah, anything that helps enterprises harness the power of the cloud had been on fire coming into todays session along with anything related to streaming content and thats because of the wildly successful disney plus, the new over the top service. Theyve been the big winners for several weeks ever since nvidia and splunk whats driving this new found weakness and how long will it last isnt that what you want to know im going to walk you through all the reasons so you know whats ahead first, its the beginning of a new month, right almost every new month especially after a very big run we get a period where large funds decide to take something off the table. Not a dumb idea. Given that no one was expecting this selling, witness the clueless pajama traders as of last night and this morning who were still bu
Protesters brought the citys financial district to a standstill. Teargas disrupting the commute for a second consecutive day. Executive carrie lam says she still hopes district elections will be held as scheduled. We still hope we can hold the elections and try our very best to do so because it is an important election to respect and safeguard, but theres the issue of safety in order, so we have to work hard to satisfy these two requirements. Alix 20 meet on the phone from hong kong is karen joining me on the phone from hong kong is karen leigh. What happens next . Karen carrie lam urging order, and at the same time, we had two days of really jarring images and clashes, especially here in the financial hub. These arent images weve seen before. This feels like a bit of an escalation. This is something that led police this afternoon to warn that the city was on the brink of total breakdown. Carrie lam talking about how she still hopes district elections will be held in a couple of weeks.
Head into the rest of earnings season i dont know if e. Theyre th bellwether, mel. Late night for us yankee fans oh, yeah. Im a new york fan, go yankees. But lets talk markets. We do what we need to do, as you know, mel. Are there Trading Opportunities . I still think they are citi was an interesting play tangible book is around 69. I think what youll see is a bounce after earnings on the back of that it trades anywhere from 85 of tangible book to 1. 2 i think thats whats going to happen now in terms of the bellwether for the broader market, i dont believe that to be the case. I think its all positioning. Weve all talked about that. I think positioning has been negative in the financials ive been negative in the financials i do believe estimates have come in enough that you can sort of walk over them so i think youll have a tradeable bounce in the financials but longer term i would not be there. Id be positive on the banks. Its hard to go into the Third Quarter. I think the expectation