The senate acts . And which companies could benefit big time. All that and more tonight on nightly Business Report for monday, november 17th. Good evening, everyone. A big day for big deals today. The buzz on wall street was all about two blockbuster mergers, one in the Energy Sector. Well have more on that in a moment. The other in the health care sector. We begin with the bigger of the two deals, generic drugmaker actavis agreeing to pay 66 billion for allergan, the maker of botox. The massive price tag which amounts to 219 per share effectively ends a monthlong hostile bid by Hedge Fund Manager bill ackman along with canadian drugmaker valeant for the same company. Investors approved. Shares of actavis rose while allergan jumped 5 . More now on how actavis sealed the deal. The bidding war for botoxmaker allergan didnt end up quite the way actavis investor bill ackman had been hoping for. More potential partners or combination partners say theyre not interested in allergan puts valea
Klaus kleinfeld talked to us. Were going to look to that bill not because alcoa necessarily should be a barometer, but because it so often is. Down 6 . The worst performer in the s p 500. Were not exactly off to a great start in the earnings season that didnt have very High Expectations anyway. Dealmaking activity for the year. Talk about the fastest pace weve seen pretty much in history. 100 billion announced in just the last 24 hours coming into todays session. So weve certainly got our eyes on that one, too. We do. Coming up here Constellation Brands is one of the winners, and thats after the wine beer and Liquor Company reported better than expected earnings and announced, get this its first dividend since going public 42 years ago. So whats driving constellations growth right now, and more importantly, what took so long to pay that dividend, rob sands . That will be one of our first questions for the ceo coming up in a little bit here. And jamie dimon defending the banks size and
The expectations and what the companies are going to earn or sell. The making and missing of those expectations controlled the market today with the dow climbing 42 points and s p 500 back sliding and nasdaq declining. A watched it drop like a stone, boom, boom, boom. Then we listened to the call and American Express is doing better than expected. And the stock rallied 3 and change. Investors kamg in s came into t and General Electric quarters hoping that Industrial Sales getting stronger of the intel choose to be far more sir couple inspect and didnt give that positive and General Electric talked about a mixed picture environment. And ge sheds 2. 28 , the latter seeming out of sync with the fact the headline said things are good. With that expectations in mind, lets go over next weeks game plan. Two of my absolute favorite companies, delta airlines, dal and johnson johnson. Suffice it to say i am a tad concerned like intel because both companies had become victims of heightened expect
Points for rapidly giving up its gains in the rn points. Pulling back to end up 0. 28 and the nasdaq declining 0. 29 . Some of the managers clearly troubled by events overseas. Thats why the sudden drop before the recovery. But its the behavior of the stocks within the averages that really concerns us. And they are all about people placing bets ahead of this powerful employment report for next week. So, the game plan is going to have to be about 75 nonforeign payroll report, and 25 stocks. Thats the right ratio. How do i know how important this is . Because i can read the tape. And because i studied this number and its impact nine ways to sunday for get rich carefully, my new book, tells you what matters and what doesnt when youre making decisions about your money. And this number matters more than any other number that we ever get. First, the big dogs in this market, ive opined on them endlessly. Those are those slowgrowing consumer and drug stocks. They havent been able to get out of
Will be maintaining its ultra easing Monetary Policy for as long as needed. In particular, the target for the federal funds rate is likely to remain near zero for a considerable time after the asset purchases ends, perhaps for a time after the threshold is crossed and at least until the preponderance of the data supports the removing of the. The big question, of course, is when the taper begins. As for his life after the fed, ben bernanke says he looks forward to speaking and writing. Beyond the economy, well get a number of key corporate results today. Quarterly results are due from deere, jcpenney and lowes. In the meantime, we have a little bit of Corporate News for you. Yahoo is increasing its stock buyback by another 5 billion. It will be selling notes that mature in 2018. About 200 million of the proceeds will be used for the stock buyback. Shares rising on the news in after hours trading. Ceo Marissa Mayer speaking at its salesforce. Com meeting last evening. We dont think were