Today they let it be known they are frustrated with the government and politicians. Ian reid, jeff immel and jamie dimon gave a vigorous defense of their companies, most of which are widely held by investors. Well start with pfizer. In a wall street journal op ed, ian reid slammed the treasury departments new tax rules which resulted in pfizer walking away from its 160 billion deal with allergan. This ad hoc attempt to single out and damage the Growth Opportunities of Companies Operating within the current law is unprecedented, unproductive, and harmful to the u. S. Economy. He said the broken u. S. Tax system puts American Companies like pfizer at a competitive disadvantage. And now to general electric. In an op ed in todays washington post, jeff immel took direct aim at some of the claims democratic president ial candidate Bernie Sanders has made against his Company Including the criticism that ge is destroying the moral fabric of america. Mary thompson has been following the story,
Europe. Chicago pmi in 45 minutes. Sales beat for starbucks, comps up 8 . Stock is down in afterhours and is clawing back. Valeant makes another controversial decision and is cutting ties with philidor. Monitoring bill ackmans Conference Call. And linkedin and expedia, both stocks spiking. Well hear from both ceos late their morning. Data shows consumer spenting rose only 0. 1 in september. Bo bo stocks are on track to extend that weekly winning streak to five and post the best month in four years. Best dow names . Dupont, followed by microsoft, followed by ge. Okay. Lets talk about those. Ge, the execution, getting out of financial. Dupont, that is breen, going to break up the company. These are very, very important. Also both large trian positions. Trian has nelson peltz has made a lot of good pushes. Done a lot of good things. I think breen, without peltz on the board, will follow peltz game plan. Even though dupont had a miserable quarter, ed breen issued by any means necessary a m
Dollar yen. Weakness in the japanese currency. 0 of 1 . We dont see reaction from japanese equity market. It really looks like we are going to the other major currencies. The equity session looks like this. Most stocks are on the way out. Weakness, some of these oil prices in hong kong, we are about a 10th of 1 . Everything else, with the exception of these mining stocks, have a look at this. Were down by this much. Going into without detail, there you go, basic resources, mining stock is about 2 lower. Look at the space metals. Koppers at 4500. 4500. R is at nicholas at a 12 year low. Given some of the cuts when it comes to china. We are higher by most metrics. That really comes down to the growth. Back to you. Rishad hardly surprised to see the, these are weak. Venezuela says that it could go down a lot more. Then, what is really the deciding factor when it comes to oil today . Ben you seen it across the board. Commodities are down. That is largely because of the dollar. The dollar i
Ever. Pfizer and allergan coming together in a 160 billion plus deal and shares of both companies are moving down. Allergan the single most favored stock owned by hedge funds. Its up 20 this year. What are the other names the smau socalled mart money likes right now . The smart money moniker depends on performance but in any case allergan was number one according to the quarterly roster that Goldman Sachs puts out based on quarterly filings followed in short order by big gainers like facebook and alphabet and amazon up 37 , 47 , and 127 respectively. It was a period in which hedge funds increased their net exposure to the tech sector to nearly 18 and cut their exposure to health care marginally according to goldman basing their findings on a sample of over 800 fundamentally driven stock funds. The troubled valeant pharmaceuticals, one of the most popular from the Second Quarter list, was actually dropped altogether in the Third Quarter and that, interestingly, was before allegations su
Ecb regarding that waver. Jobs number tomorrow. 15 billion deal in pharma pfizer buying hospira in allcash acquisition. Soft outlook for michael kors has the stock reeling. Keurig, l brands and dunkin moving as well. Tomorrow earnings after the bell from twitter. Interview with Dick Costello tomorrow on squawk on the street. Futures on the rise as stocks look to shrug off concerns on greece. Lost on the news ecb greece couldnt use bonds as collateral. Claims raise 11,000 to 278 but the increase less than expected estimate 290. It has been 15 years since weve had two consecutive weeks below 280. Wow. Look, the cross currents here 327 yesterday the market looked like it was going to have not one, not two, but three maybe plus 200 dow days. A beautiful thing, setup great. One headline out of europe and kiboshes the rally. Headlines 330 and 4 30 headlines get better. Down day to up day. Back in that european miasma driving everything crazy. In the end, there will be a deal. But do you . I