To michelle. She has todays corporate stories. Pfizer abandoned its bid to buy astrazeneca after being rejected by its british rival. The move had been widely expected. Pfizer can return with another offer in six months or three months if astrazeneca invites it back in. Well talk more about this story with a pharma analyst in about ten minutes on squawk box. Top executives from General Electric and siemens had set to appear from the French Parliament today. Francois hollande will meet with ge ceo jeff immelt. Reuters reports that siemens is preparing a formal offer for alstom. That would mean a slightly higher volume on alstoms Energy Activities than the ge bid. But only a little more than half of ges cash component. All those deals. Was it astrazeneca that was resisting or was it political i think it was astrazenecas board. The other deal we didnt talk about, the deal that wouldnt be or hasnt happened yet. Apple and beats, the head phones. How upset apparently apple was about the vide
And butter. Were talking about her and oeismt ceo blunders. Tyler is out and simon is back with me. Hi. Good afternoon. We start with something on this show 24 hours ago it was a big headsup on a stock that could have been about to make a very big move. A biostock that many analysts will quickly double, vertex pharmaceutical reporting data. And move it did. Vertex shares up big on news that the drug combo is an effective fighter on cystic fibrosis. Its up, up and away today. Our own meg tirrell fresh from doing a lap of honor around the headquarters joins us with more. They met and exceeded the streets expect aations this co bock improved function. We took a look at how they work. Cystic fibrosis is caused by mutations to a gene known as cftr. When the gene is defective, the protein it creates cant help fluoride escape the cell. That hampers the movement of fluid across the cell wall and leads to product of thick mucus. The first medicine cass kaledyco. Which allows chloride to pass th
Redouble efforts to fight terrorism. Will the days to come we learn more about the terrorist and any accomplices he may have had with these events are a grim reminder that canada is not immune to the types of terror attacks we have seen elsewhere around the world. News, anothere chairman richard broadband is leaving. Earnings were overstated by 422 million, the new ceo says he cannot provide any guidance on fullyear profits. Switzerlands secondbiggest bank more than doubled. Revenues rose 77 . Ceo talks to bloomberg about the impact of volatility. Benefitse point it some of our businesses as you mentioned more volume and more volatility. From some points of view that is clearly a benefit but if you get too much Follett Hillary that impacts longerterm views too , that impactsy longerterm views. That is not so good. Nissan joins in, they have recalled more than a quarter million vehicles. In the last year, 7. 8 million cars in the u. S. Have been recalled for an airbag defect. Shrapnel i
Additional boost to talk about which well talk about now. Yeah, certainly did. Joining us now to help break down the day is mark travis from Intrepid Capital fun, steve grasso will join us, and Rick Santelli is with us as well. Mark, begin with you. Nice to see you. Glad to be here, scott. This whole day into perspective and what youre thinking about the market, given everything thats out there, syria, taper, you name it. Well, i think that the market has decided maybe syrias not going to happen after all. If it is, it will be kind of a pinprick. And the jobs report on friday, let the air out of the taper bubble . Yeah. Taper talk . And so, you know, youve got a relief rally at this point that, you know, makes us feel better. Im not sure were not just spinning in place, which has been my point of view really since may when rates started to rise. So youre cautious now still . Because an hour ago we had a panel on. They were 100 bullish. Biggest bull market in our lifetime or our careers
Is it significant to this market . I think it is. It is very interesting the overall reaction to the market, the leading stock over the last couple years, apple, down significantly and the overall market is continuing to go higher. I think thats the interesting topic we should be looking at. Well talk again soon. Thank you. My pleasure. A few seconds left. More now on the second hour of the closing bell. Stocks rallying again. The dow less than 2 away from its all time high. Welcome back to the closing bell everybody and happy friday as well. Im mandy drury coming back to the table. Well also be hearing from maria in davos, switzerland. In the meantime lets look at how we finished the day that was here on the street with the dow up by 68 points, the nasdaq up, i think today about the best day in weeks up by about 19 points and the s p 500 finishing up above 1500 and a gain of 8 points. Wrap up this week in the markets. Back with us once again joe tennie from jp morgan funds. Mark travi