Economies theyre watching closely. Well get you the latest from the crown prince and go live to saudi arabia. Perrigo ceo joe papa is out, hes heading to valeant. And surprising sales number from the apple watch on its first birthday. Well break those down and get a preview of apples earnings tomorrow. The three major indices in the green for the month the dow leading the pack up. Saudi arabias cabinet approved a plan laying out economic reform priorities for the next decade and a half aiming to reduce the countrys reliance on oil, a partial ipo of the stateowned oil company is part of that plan. The saudi deputy crown prince expects to be valued at more than 2 trillion. And then they argue by 2020, guys, country will not be as dependent on oil as it is today. I question the whole notion of dependence. Because if you go over the slumberje quarter, talks about how theyre really the only country that has swing capacity. No other country in the world has the ability to put out another 2 M
The top and bottom line. Were at the afterhours session low. By the way, 38 billion in lost market cap in the afterhours session alone. The First Quarterly revenue drop in 11 years. The company did say it would raise its dividend return 50 billion more to shareholders. But investors didnt care about that. They dont care about that right now. Lets get to josh lipton, who just spoke to the ceo, tim cook. It was down 16 . I did just talk to ceo tim cook. Pressure points that number, he talked about tough comps. The iphone 6 was a blockbuster. A year ago, apple shipped 61 million iphones. He talked about the Macro Economic weakness and headwinds. The key question for investors is where is the iphone franchise heading from here. Cook sounding very confident and very upbeat. Hes still bullish on this franchise. He talked about new markets to india. A small market share there relatively. India popping more than 50 . He talked about the iphone se with the smaller form factor, relatively cheape
Well break down all the mergers and acquisitions and wheel talk to miles white about his 25 billion of st. Jude. A strong Earnings Report after the bell yesterday, the company shattered estimates and is proposing a new sale structure. And well take a look at how the day on wall street is shaping up. Lets get to m a. The deal valuing st. Jude at 85 a share. Lets keep a close eye on abbott labs stock. They expect to add to earnings. Wheel have an interview with ceo white. And a crossborder hostile for medivation. We have plenty in the world of health care so to speak. Jim, lets start off with abbott. By the way, they also have this olear deal on tap. That kaem prior to them signing a confidential agreement late in february to get this deal done on st. Jude. Theyre talking big accretion. Im looking at a stock that is down pretty dramatically. Its a cash and share deal. So it is going to have the effect of hurting the overall value of the deal. 4675 in cash and. 8708 shares of abbott. Lets