Gets 8. 3 billion buyout. Roach and intermun on the buyout . New alltime highs driven by the possibility of more stimulus in europe. Just a few points shy of s p 2000. First up, tax inversions in the spotlight, not talking about europe. Burger king in talks to buy canadian coffee and doughnut chain timms. Both Companies Say a combination would create the Third Largest Quick Service chain, a deal structured to shift burger kings base to canada, which has lower overall Corporate Tax than the United States but some thinking this morning is that taxes may not be the driving force on this one. Look, i think that theres always going to be anytime, its a hot button, especially walgreens not doing the alliance and president and treasure secretary saying weve got to stop these. This United States a deal that makes a lot of sense. Burger king challenged at breakfast, tim horton doing fath f fantastic. Burger kings last few numbers, doing okay, theyre not as bad as they used to but flattish comps
Inversion. They would operate as a standalone brand. Two points on the burger king deal, even though it is an inversion, this deal likely a little bit more like a real deal in terms of strategic merit, both in terms that 50 of the company would be based in canada. There are reasons to keep it there, but more importantly from a 3g perspective, the guys that own burger king, we saw what they have done with inbev and heinz. This is sort of their approach at taking a Restaurant Company and using it as a platform to buy a lot more. I would argue to everybody that this is just the beginning. We should see the transaction cross the tape later this week, probably tuesday more likely wednesday. Well talk more about that in a moment, but for now well send it over to michelle. Im dying to talk burgers and donuts. I think it has more to do with fries. They finally said, you know what . The fry situation, the fry problem was too big for us at burger king. Youre right. Tim hortons has a track record
Canada. This is what weve come to . Stuart first thing to do with news like that is checked the stock price. Tim horton also on the upside of the tune of 12 points. Charles payne is here this morning. The unpatriotic burger kings of this world. Charles this is not just taxes. The president is pushing higher minimum wage. All of the companies, they cannot grow in this company. You cannot grow in this company. Spent 33 on food, 30 on payroll and etc. Now you have to build outside. You are making money all over the world. You cannot bring it back home. You will get taxpayer and two. How about you build your headquarters in canada. Stuart that is a great way to start a monday morning in august. Charles it is nuts. To the treasurer wants to stop this. Stop these companies leaving for tax purposes. Here is rich edson. Ten the treasury do this . Can they make a new rule cup not legislation a rule, retroactively apply it. They very well could, stuart. They would be challenged in court if they
Today a pair of deals. Endo buying parr pharmaceutical and for just over 2 billion. And potentially a third in the making i can confirm that they have resumed talks around a possible deal. Well have more timely to help, tim cook tells graduates not to live lives on the sidelines while apple acquires a gps startup. The dow and s p just shy of new alltime intraday highs. The dow, as we said about 16 points away from record territory. People wonder if this is the breakout of the wedge weve been watching for so long jim. Its certainly possible. We saw things last week that were really kind of very positive for the market. One, Interest Rates were good. We need them higher because the financials roared last week. The other thing that roared were the health care stocks. We still dont have the transports. I know that i was doing some work on the oil lines on the train lines for oil, with rbn, which is my energy source. There theyre going to be challenged. So we need the rails, but the health
Connell so i moment of at the New York Stock Exchange. [drums] [taps playing] [silence] connell the traditional wreath laying ceremony on this veterans day 2013. Before that was only moment of silence at the New York Stock Exchange in new york city. Dagen to our veterans we say thank you but words can never be enough. But we want to move on to the news of the day, and days passed and days ahead. We talk about the troubled healthcare. Gov website warning users over the weekend and today of delays being able to submit applications. Connell we will talk about that with rich edson. Rich well, dagen and connell, this is the weeks of the administration releasing how many people have been able to enroll in health care through healthcare. Gov. There were investigators using administrative documents saying only six people enrolled in the first day, a few hundred people in the first two or three days. The Administration Says those numbers are not reliable and refused to give numbers of their own