Producers making sure form videos with the discovery channel. Youll hear from ron howard. He looks exactly the same. Welcome to Market Makers. Extraordinary the show from yesterday, but we are going to give it a shot. Breaking economic news. I assume nonmanufacturing ism nonmanufacturing. Michael mckee has the headlines. Havetter news than we expected. Manufacturing getting a little better. We want to keep an i on whether were seeing the new orders come in. Im checking through the numbers at the moment. 53. 1 versus 51. 6. A big jump from february. The Employment Index is what everybody is keeping an eye on as well as new orders. A big rebound there. That may figure into peoples estimations of what we get tomorrow for the payroll report. 47 is contraction in hiring. Nobody thought that would continue. It was weatherrelated. His address we will see betterthanexpected news perhaps tomorrow in the implement report on the Service Employment report on the services side. Good news today. Tha
Melissa the backlash continues now. Blackrock Ceo Larry Fink jumping on the bandwagon sending a letter to ceos of all the s p 500 companies, doling out advice. Fink spoke exclusively to our own Maria Bartiromo earlier. Watch this. The letter this time is really a response to our view of the economy is improving. Our view that theres way too much discussion about shortterm trades. Way too much discussions about activism, which in some cases has its role. So were not against activists if they are, indeed if they are doing something to move a company that has been unwilling to do things, what we think are the right things. Melissa so those are the know say this is about finks own ambitions. Here to breaks it all down, our power panel, fox businesss charlie gasparino, tim spice and James Freeman of the wall street journal. Thanks to all you guys for joining us. Charlie, you started this i will let you kick this off. Fink has been on this role about activist investing for three years. We sh
Nikkei. Overnight in asia not good. 2 drop wrapping up what is the worst week in three years. Of course concern about china in terms of exports or lack thereof. A look at europe where we also are going to see a good amount of weakness. The follow through as you might expect from here yesterday, a day in which we saw the s p down almost 2 and the nasdaq nasdaq down 3 . Lot more than that. Yeah. Lets get to our road map this morning as you might imagine. Does start with that meltdown if you want to call it that in the markets. Stocks slide around the world. You just saw. Is this the start of a correction . The tip of the spear, jpmorgan profits disappointing. Jamie dimon confident in the american recovery. How will the banks weak results drag on the market and other financials. The flip side wells fargo profits up 14 and those shares are rising. Another bad month for sales at gap. Gap discloses a 6 drop in march samestore sales after a disappointing february. Gross margins taking a hit.
Come prices falling a Third Straight month, new home sales falling to a five month. Adam what will jumpstart the Housing Market . Tweet us that Cheryl Casone or a j chaps. Cheryl after months of speculation, box announcing plans to file its initial public offering. The latest hot tech company to jump into the public for a. Joline kent joins us with details on what we can expect. Box aiming to raise 250 million. If you have a question for investors why go public right now with so much venturecapital out there . The filing just needs money. Box was recently valued at 2 billion but only has 100 in Million Dollars of cash and equivalents on hand, if you do the math, box has less than a year of byrne left. Year end january, posted a net loss of 168 million versus revenue of 124 million anthony s. 1 filing. And not profits in the foreseeable future, but aaron levy is bullish about what lies ahead. The 29yearold is counting on revenue to grow and in its filing, research from idc saying Digita
Business confidence there down for the first time in five months. Our roadmap begins with the nasdaq looking to turn around a second consecutive slide in biotechs, deterioration in what some of these momentum stocks we say. Cloud storage firm box planning to raise over 250 million in an ipo and list under the ticker box. Reports that manager knew of the gm ignition problems prior to the launch of the cobalt and withheld some vehicle data. First up the nasdaq hoping to rebound the morning after the selloff which saw the index closing at 5 1 2 week lows and biotechs took a hit and tesla and netflix. We talked about it yesterday, and wonder if this is a longerterm dynamic in terms of leadership. I think that gilead comeback yesterday was significant but a lot of the others didnt. You know, were going to be talking about box filing and i look at that offering and i say or drop box, too, i say, these are the kind of companies that are putting a lot of pressure on the rest of the companies.