Event tomorrow, ali baba. While todays market gained 109 points, nasdaq jumping 6. 8 t. Real story is tomorrow it can be projectilesed at 68 a share tonight a. Very good price for those able to get stock on the deal a. Very good one, indeed. To you, for days now, i have been hearing about how bad ali babas ipo could be for the stockmarket. I hear that its overvalued. Sell, sell, sell that its too high. Sell, sell, sell that it has omake ownership. Sell, sell, sell of course its a sign of a on the. Sell, sell, sell. The house of pain so i thought id adjust these negatives head on tonight and say if you hate baseball, if you hate twitter, linkedin, google, j. D. Com because you think theyre ridiculously expensive at the height of absurdity. You should love, not hate, but love ali baba. Even ali baba opens at 8 a share. Could still be a buy, buy, buy it may be a buy even a couple points north of that, given it would given advisors who got in on the deal a bended average. Thats how they th
Ukraine and the pro russian separatists. No letup for a bruised market. Ukraine, troops at the border. The futures do rise. It is a money and murder investment, cia kraft will make what is its largest acquisition ever. Citi reports stronger than expected numbers. The stock is rising, headcount may not be. Get a new friend request. Facebook looks into whats next, yeah, a digital currency. First up after a rough week on wall street, stocks are poised to open higher this morning. Retail sales rose a better than expected in march. After the nasdaq closed below 4,000 for the first time, s p and nasdaq each suffered their first Weekly Performance since june of 2012. Jim, on friday, you had a playbook of sorts to get us through the week. Namely around companies that are going to report, coke, ibp, google and others. We are trying to see whether the value of revolution continues. Cocacola i dont expect to be good. If that works, which would be similar to what General Mills had last week and ke
Also sac is firing back at the u. S. Government. The wall street journal reports the firm sent a memo to all employees with a rebuttal to allegations that steven cohen failed to take proper steps to prevent Insider Trading. Sac says that evidence shows that cohen didnt read the email at the center of the allegations. That email in question is from august of 2008. The s. E. C. Says it reflected, quote, clear possibility that information about upcoming dell earnings was improperly obtained. The government says the email was forwarded to cohens office and home email addresses. In a report prepared by cohaens lawyer says that so many emails landed in his inboxes that he opened just 11 of them. Interesting. Dow component, dupont, if you saw the top of the hour, i dont know, i recorded something about it. We knew it was coming. Alan coleman will be on the show later today. At this point, it is either a there is some stuff in here. Some net numbers just one net number, 1. 11. The street 1. 27
Big headwinds facing the market, and the Obama Administration saying it is ready to act in syria if needed. Secretary jack lew on squawk saying moments ago the president will not negotiate over the debt ceiling. Good news for tiffany, and luxury, in that it was boosted by sales in china. And the end of the era, bill ackman is bailing on jcpenney, and they are looki in ing to ses shares. And we will look at the new home sales to be released. Treasury secretary jack lew telling our own john harwood that the president will not e negotiate over the debt limit which could be reached in midoctob midoctober. Take a listen. We wont be negotiating over the debt ceiling and congress has authorized funding and committed to expenditures and now the question is do we pay the bills that the United States has incurred. It is the only way for that to do is for congress the act and act quickly. What we need in the economy is certainlity, and we dont need a selfinflicted wound or crisis at the last minu
Odds since the beginning of august, thats when they were blacked out on time warner systems in los angeles, new york and dallas and smaller market as well. Well talk to a media analyst in the next half hour to see who came out as the big winner on this. Cbs, kind of thumping its chest. Well talk more about that. First, back to the tech story overnight out of europe, jon fortt talked to microsoft ceo Steve Ballmer an hour ago and joins us from san jose with the highlights. This caught a lot of people by surprise, jon. Not entirely surprising that microsoft would look at perhaps stephen elop as a ceo candidate, but the timing of picking up all of nokias devices and Services Business quite surprising. All the talk on twitter also over in germany where there is a major tech show kicking off that will be following throughout the week. I spoke to Steve Ballmer about an hour ago, first on cnbc interview. We talked about the join up of the two companies, we talked about stephen elop. Listen to