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
To make matters worse, two dow components had less than stellar Earnings Reports, walmart cut its forecast for the remainder of the year. Take a look at walmart, the stock is down metropolitan 2, thats almost 3 as you can see, and then there is this stock, cisco. This stock suffering its biggest oneday drop in 15 months after the Network Equipment makers outlook disappointed investors. The Company Announcing theyre going to cut 4,000 jobs. Take a look agencies coe, one of the biggest drags on the dow. Cisco down more than 7 , 1. 87, 4. 531 24. 51 to the downside. We are going to be speaking with the ceo of cisco in just a few moments, so much to talk about with john today. A big down day in the market, the dow and the s p at the lowest level this more than a month. Nicole petallides, a business busy day back from vacation. It has been, indeed. You see the Dow Jones Industrials still down 207 points, and the selling is broad based. Most of the day weve had all 30 dow components with red
The nasdaq touch and go early on. Briefly dipping below into correction territory. But its now in the green, up better than a full point. In terms of the long bond yield on the tenyear note, treasuries and commodities, they are also on the move in todays trading session. After moving sub2 in yesterdays trading day, the tenyear note. The yield is now 2. 171 . In terms of oil, west texas intermediate is on the upside by almost 2 on the trading session. And gold is near a onemonth high, although it is in negative territory. So we have a lot ahead for you in this hour. We have every angle covered. Bob pisani is going to join me here at the nyse momentarily. Bertha coombs is at the nasdaq. Rick santellis at the cme. And skrjackie deangelis is over the nymex. Thats right, a very busy hour ahead. It was just one day ago that we hit the bottom in the dow and was off more than 450 points. Europe fueling the fears in the markets. Seema mody is in london. Michelle carusocabrera tracking those soa
Investor dan loeb buys a large stake in dow chemical and calls for the company to consider selling its petrochemical business. Dow is there point largest current investment. In a moment we will talk to someone who tracked activist investors like globe and find out what the Hedge Fund Manager at the move means for dow chemical investors and we are going to move on later this week. Liz claman will be asking dow chemicals chairman and the e. L. About loebs investment and what he thinks of his proposal. Liz is live in davos, sweetened with the biggest names in industry including artie sorensen, president and ceo of Marriott International and michael corbett, ceo of citigroup, a huge interviews you will want to watch later this week and investors playing defense today quite literally. Nicole petallides at Stock Exchange with all the details on that. Nicole looking at these shares of a lot of defense stocks and lot of new highs. Some good earnings and outlook here by one of the names in part
Apiece after the close yesterday. Checking the shares at the moment, up nearly 2, 21. 87. Facebook will likely make a bunch of new investor friends, because itll become a member of the s p 500, also the s p 100 next week, so this means facebook shares will automatically get snatched by some index and investment funds. Lets have a look, a huge session for the social network, 2. 58, thats 5. 25 , thats a nice jump putting the price at 51. 97. Now, unlike facebooks rally, lululemon having a sour day after it warned about a sheer forty be quarter. Fourth quarter. Straight to nicole pet lee d. C petallides. Reporter taking a look at lululemon, lori, looking you can see its down about 11 to 60. 78 a share. When lori says sheer, that was one of the many problems that lululemon has faced, they went back to the manufacturer, they had to recall some pants. That being said, theyve had to lower their fullyear numbers. They said Quality Control was an issue, getting the products back to the stores