Dovish fed, the spread continues to steepen. That is more on tax reform, 78 basis points is the difference. The pound just turning positive. A macronmerkelmay lovefest over the past few days. I do want to bring in breaking news over the last half hour from ge, a huge mess on earnings at . 29 a share versus estimates that . 50 a share, and it cut its fullyear forecast. The oil and gas environment remains challenging for its spinoff of the baker hughes ge business. What was the huge mess on earnings and revenue came in stronger miss on earnings one revenue came in stronger . Typically on an earnings day it moves just about 2. 8 . What doesions about it do to flannery, the ceo . David it is typical for a new ceo to clean things out, but this is really a big one. Jonathan it says a lot what was going on and maybe for John Flannery, he has the appropriate whipping boy to drive things forward. It gets a decent position because these are just numbers and got his. David he has got to come up w
The ibex on the flipside is weaker. Political unrest in spain. Ahead of the ecb meeting, here is where we are stacking up. 43 basis points. Gold at a low. Ecbd says david the will hold its policy meeting where mario draghi is expected to announce tapering decisions. Now, lets get an update on what is making headlines. Taylor shinzo abe gambled on early elections and won. That boosts his chances of winning another term. That could make him the longestserving leader. Investors responded. The increased role in the counterterrorism policy. The cia has increased operations in afghanistan. Joining to hunt and kill the taliban. Spanish authorities have rejected a call for negotiations. Day, i ams 24 hours a taylor riggs. Messy politics in spain will be the backdrop for the meeting. The theme is lower the amount and extend the bond buying program. From london, i want to get your take from the unrest we have seen from spain. Does it influence the ecb at all . At the moment, it will not be a key
Good monday morning, welcome to squawk alley. Im Carl Quintanilla with john fortt, sara eisen at post 9 of the new york stock exchange. What a morning for tech, john. Yes, indeed broadcom confirming its takeover bid for qualcomm the cash in stock offer valued at 70 per share, or 105 billion, excluding debt. Qualcomm acknowledges receiving the offer. For more were joined by a tech analyst at William Blair and analyst at Rbc Capital Markets is on the phone. Actually, i want to start with you, amit. So, broadcoms side argues, i had a chance to have a few conversations this morning, that qualcomm hasnt traded at 70 a share since a year ago its been three years since it was at 80, so this actually represents fair value, but weve seen qualcomm under pressure now from apple on the licensing front. A year ago, and before that from china, though it was able to resolve much of that does that argument hold water in your view . Yeah. Thanks for having me, guys ill say, you know, factually they are
The regions banks, Credit Agricole reports today. Anna a warm welcome to bloomberg daybreak europe. Im anna edwards. Manus breaking news, Credit Agricole. Anna numbers from Credit Agricole, they look to be a little light, thirdquarter revenue numbers, 4. 58 billion against an estimate of 4. 70 4 billion, although the trading revenue is one of the issues here. We have a drop of . 28 in trading revenue, down by 28 . They were hit by slower bond trading, lower volatility on that side of the market. We know that story very well. There are some upsides to the story coming to this morning. Were seeing if theres any strength there on m a advisory. Will look for more details. M a also a big story, i should say. Could Credit Agricole be interested in doing a deal with commerzbank . Well see what comments we get from them on that front. Abn amro, when and how quickly will the government release more of their holdings . Third quarter pretty much matched analyst estimates. A little bit better ther
What is the final draft going to look like . Shares tumble after hours for snap. Can overhaul an overhaul of the snapchat app break even . Europeans talk about stock. Futures less than half an hour away from the start of cash trading, and mixed trade. 50 showingxx unchanged. Ftse futures, dax futures, and ibex 35 futures all down a little bit. We do have a slight gain in cap futures. Cac not a lot of movement in terms of index futures. It has a risk off field field. What i have is a onemonth chart of treasuries so you can see that yields peaked at the end of october and have been coming down fairly steadily ever since. If i twitch it over to a you can seeart yields have come down in a pronounced way over the end of yesterdays session. The concern about the tax issue is getting investors to go in forbuy treasuries, looking a little bit of safety. E see them during this across it could be a risk off day. About red thing weird thing about the u. S. Story is the shape of the curve. U. S. D