Create hes taking a lot of heat. This is an unquestioned big victory. This was a 2. 6 billion score. Take a look at this name. They first got into it in september of 2011. They built the stake over a course of a month or so with prices ranging at about 63 with the average price 55. After putting new direct orreor the board and being involved with that, they began selling stock 6 million shares in late 2013 at about 142 a share so theyre up about 90. Two more sales in the years that followed at a higher price range and then the 9. 8 million share yesterday. They made most of their profits, roughly 2 billion on the stocks performance but they also benefitted from a currency hedge. They will use the proceeds of the sale to make one or more new investments in the main Fund Although not necessarily through a special vehicle. The timing couldnt be better. The fund is down about 19 through july thanks in large part to the awful performance of val ent pharmaceuticals and then theres herbalife.
In asia overnight, markets there also closed higher. The nikkei was up by 2. 4 . Hang seng was up by 1. 5 . The shanghai composite up by 1 . In europe, in the early trading, again, more green arrows, the dax is the biggest one of the major advancers. Right now, german markets up by. 8 . The cac is up by. 4 of a percent much the ftse at. 1 . Crude oil prices were lifted by renewed talks by opec members to restrain output. We saw that ground pick up on friday and this morning, wti is up another 1 1 3 percent. Moss cow is ready to discuss an ol production freeze. Here are the stories to watch. Not a good day to fly delta. Thousands of passengers around the world experiencing delays this morning due to a system wide computer failure. Delta saying our systems are down everywhere. Thats in response to a user complaint. At delta news hub tweeting, due to a computer outage, flights awaiting departure are delayed. Flights on route are operating normally. Customers should check the status of the
Health of retail looks like. Tough to get handle on retail these days. So diverse. Plus after a recent rash of airline glitches, there are new calls from congress for airlines to overhaul their i. T. Systems. We will talk to that man there, senator Richard Blumenthal, one of those lawmakers behind the initiative. He and senator marky from massachusetts sent a letter today to those airlines seeking answers to the latest glitches here. And reporting earnings after closing today, tech giant getting toward layoff 14,000 employees, nearly 20 of its work force. Shares down about 1 on the news with those earnings coming up. Over that over the next couple of hours. Lets get to fed minutes and markets reaction in a minute. First a closer look at todays earnings mess in retail. Courtney reagan has the low down for us. Plus some recap of the special guests you had last hour. Courtney . Hi, bill. Remember last week we talked about retail resurgence, but i said, whoa, not so fast . Today targets tr
Panel. Pete najarian to you first. Down over the past year. Worst performer of large banks. Kbw indention down ten. Whats the problem . Everybody puts banks in the same pocket right now together, and i think when you look at Morgan Stanley, goldman sachs, theyre separate and particularly Morgan Stanley. Focus and emphasis put on Wealth Management and thats what i think value act is lookingality now, where the focus should be. Give you a small example. How many quarters in a row did we hear when Dicks Sporting Goods reported everything was actually pretty good, golf galaxy awful and everybody started selling that stock. Look at Morgan Stanley. The focus, Wealth Management. Where theyre moving themselves into that field more and more and more, getting more exposure and because of that, people need to focus on, is that the right thing . I think it is. I think that bodes favorably for Morgan Stanley. Joe, the point of making. Focus on the low captain intensive businesses like Wealth Manage
We did a piece on these flipflops. Come to the camera. She asked if she could get a pair of flipflops. We want to get her the flipf p flipflops and stuff with will give away a little later. Its not going to fit me right now. Its really soft. Id raet having it for fitting longterm. You gt me a large. I cant wear. Youll be working out. I know, that makes me you should have been a medium. Im going to try it on. Its the thought that counts. Thank you for thinking of anything. I would not probably have. You were on a quota, too, right . You werent allowed to you only could spend so much down there. This was personal. This was personal money. Because the expenses. He paid for this himself. Bought it with my credit card. Thats even nicer. You can write it off. I cant write it off. Who is reading this . I am. Were going to take a look at the u. S. Equity futures this hour. Thank you andrew. Very sweet. Take a look. Things looking positive for the bulls. Dow futures indicated up 66 points. S p