He tells us he has a good guess as to what caused todays derailment raiment. Here at 30th street station many students are heading home for the o holidays and they were concerned given amtraks derailment south of seattle. Its a little scary. I think its crazy and i really feel for those people andheir families. Generally i feel safe but aveling in inclement weather its in the back of my mind. Robert mongeluzzi represented 34 passengers on amtrak train 188. The train derailed in Port Richmond with 238 passengers on board. Eight were killed and over 200 injured. The train was traveling over 100 miles an hour in a 50 Miles Per Hour zone when it hit a curve and went off the tracks. He sees striking similarities to todays derailment. The first thing that you think about when a train derails on a curve is it was going too fast. And when you see the locomotive, which is heavier and goes on a Straight Path while everything behind it falls over, it is eerily reminiscent of amtrak 188. Reporter
In a defiling that it now owns 7. 5 of the food giant which makes oreos, ritz crackers and wellknown brands. Whats unclear is what the investor wants to do with the company. Ackman wanted the snack maker to grow revenue or cut costs or sell itself. Mondelez, for its part says they will welcome them as investors in the company. Ackman joins nelson peltz. His firm holds a 3 stake in mondelez. Well show you whats going on now in the premarket trading as a result of this and you wouldnt be surprised to see that they are sharply higher. What does he want to do with the company . He wants the stock to go up so he can sell the stock for more than he paid for. We were having a conversation off camera. Okay. Maybe he sees something thats not being optimized at mondelez the way that management is running things but what he really knows is i have enough money, 5 billion. I can make a splash and in all likelihood the stock will start going up just on that and then you agitate, you mess around, you
It will have erased the gains of the year. Courtney reagan has more on whats exactly happening. One trader i talked to said there is no one sudden catalyst. Just a lot of things were seeing thats making this a be generally riskoff trade. If weve broken through sew key Technical Levels. Specifically on the s p 500. The next level we are looking for is 2,067. Well see if we break through or hold above it. Consumer discretionary, health care, telecom are the biggest drags. Energy is actually higher and crude oil which continues to fall. Despite all the retail news and movers in the Consumer Discretionary names weve been uk talking about it all today, 7 of the 15 performing stocks in the s p 500 are media stocks. It is kind of due to this reinvigorateing talk about cord cutting. If you look at the s p media industry, a subsector group here, having its week since october of 2008 when it lost almost 22 . You can see by that chart was level, then the steep falloff. One consumer discretion yae
Adp is a slight miss ahead of the jobs number on friday. Apple set to open at an all time high after the solid earnings. Company sells 40 million iphones in the quarter well hear what tim cook had to say about the future. We might see an open above 22,000 for the first time but how long can this rally continue Major Corporate news out this morning. A r Irene Rosenfeld to leave mondelez. Am up implieg tlying the lau the end of the september quarter. It wasnt only about ipad and iphone sales. Services revenue hit an all time quarterly record of 7. 3 billion representing 22 growth over last year. We continue to see great performance all around the world with double digit growth in each segment. Over the last 12 months our Services Business has become the size of a fortune 100 company, a milestone we have reached even sooner than we had expected. Go back to something that looks like a company where you can give it a higher multiple. Particularly the Services Revenue which is extraordinary
The fed added a third rate hike for 2017 or the median forecast adds to the third hike up from two. Our fed survey was at twoandahalf. So the market didnt fully price it. Yellen also and i put that word bless on trumps policies. Thats rick santellis words. He didnt bless it or criticize it much, but didnt bless it and the market wanted to hear these things will lead to better growth. And she said more worried about inflation, pointing out that when her counterparts were calling for what she and bernanke were calling for fiscal policy, it was a lot higher than now. Slack in the economy. Now i asked her at the press conference whether or not trumps tax cuts were the kinds of things that she could bless, because they raised productivity. Heres what she said. Tax policies can have that effect. It really depends on the specifics. I dont think theres anything that i could say in general about what tax policy would do. But that and i really cant tell you what the feds response would be to any