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.
It trades for whats behind the big move up. 4 on oil. I said my local gas station owner had the ladder out to change the price of the gasoline. Doesnt take long. Donald trump and Hillary Clinton both have been talking about their economic plans today. Well bring you details and get you the plan from a new candidate, independent Evan Mcmullin will join us live to talk about what he would do to create jobs in this economy. Handle regulations, deal with National Security issues. Well talk the gamut of the policy issues of candidates these days. And what the chances areality this point. Check out shares of vail cent hit hard today on reports that the company is under criminal investigation. Well have the details for you and the potential fallout for this troubled pharma stock. Lets start with the encouraging earnings of the retail industry. Courtney regan has it. Earnings bettering expectations by decent margin with better than expected results on the top line, as well. While comparable sa
S p reclaims 2100 a lot to look at including coke and yahoo. Europes relatively mixed, oil is lower as the kuwaiti oil strike has now ended. But first up intel announcing plans to cut up to 12,000 jobs, about 11 of the work force, weaker demand for pcs ask that exclusive coming up in just a couple of moments. As we said we brought in jon fortt to lead this interesting quarter and interesting plans now for the future. Its really interesting, carl, because we just saw ibm report a quarter where they talked about weakness in latin america, particularly brazil doing some cuts overseas. Now intel coming in saying the pc market is weak, but also the Data Center Enterprise demand was weak, its cloud demand thats stronger. Makes you wonder overall when it comes to the end user whether that end user is sitting at home or in a business or even at a data center that the business controls, what really is happening to demand for devices that run on intel chips. Of course stacy smith, cfo is going t
Third row until it is repaired. Here is the concern, voiced by the president of teslas sales and Service Division about what could happen in an accident if someone is sitting in that third row of the model x. It is actually with the leverage of weight in the seat pulling it forward. So this would be an example of a front crash, where the weight of the passenger seat belted to that seat could cause that latch to fail. The third row for the model x, they are being replaced. And it will take about two hours for the repairs to happen. By the way, the 2700 vehicles almost all of them are here in the United States. There are very few delivered outside of the United States. Tesla says the repairs will be done over the next five weeks with a new seatback put in place to replace not only the hinge, but also the seatback. The recall will not impact model x production, which tesla is in the course of ramping up and one other note, tesla says this recall will not impact its financial results. So,
No deal, Canadian Pacific walking away from the Norfolk Southern bid after norfolk resisted talks forever. And another Company Reportedly enters the fray for yahoo . The ted line for bids this week. Stocks are looking to rebound for the worst week since february. Alcoa due tonight. The president set to meet with fed chair yellen today to discuss the economy and wall street reform. And la and larry fink saying certain actionsi actionsi actionsi may lead to reduced spending and growth. An echo of what hes said in the past. Right. I think that were getting actual success in europe. No one seems to recognize that. I think three months from now, germany will say enough is enough. We want rates to go higher. Germany will prevail. The numbers that im getting, car registrations, employment, pmis from europe, theyre all strong. I think this is a backward looking letter. Really . Yeah. Other than japan. Japan, i dont know. I cant figure them out. Nothing seems to work. Tenyear negative 0. 796 fo