U. S. And chinese negotiators agree on a tariffs rollback if and when a trade deal is reached but stocks and futures slipped from asia to europe. In europe, Jeanclaude Juncker says President Trump will spare autos from tariffs ahead of next weeks deadline. The hong kong protests caused revenues to slump. The city prepares for another weekend of demonstrations. Good morning. Matt good morning. Less than a halfhour from the start of u. S. Trading. We saw haven assets really catch a bid, especially over the last few days. This is the threeday chart of treasuries. You can see the yield jumped up past 195. It is coming off a bit today. Right now, we see 1. 91. Yesterday, we saw a real change in sentiment, it looks like. For example, gold, which had been catching a bid in the last few weeks and months on concerns about the trade war, dropped 30. We will watch that and talk about that today. In terms of what we are looking at in terms of the trade in less than 30 minutes time, we see futures
Lets get into these results from samsung. What was the offer . Not as impressed as the shareholders are. They seem pretty impressed. I think there is a lot of concern they need to be aware of. First of all, the chip business really fell off a cliff. Operating profit really fell a lot. The other thing is the smartphone business had a good quarter. It was the secondhighest sale on record for that division. Incomecompare operating versus a couple of quarters ago, operating profit was a lot lower. Margins a lot worse than it had been in the past. They said themselves this quarter, the fourth quarter, they would see a deterioration, not only in shipments, but also a have bees. What they ship will be the cheaper phones. Not the flagship stuff they had in the first quarter. The cheaper stuff. Those are the landmines investors need to be worried about as we go into the next. Components are weak and their products are week as well. It definitely is downbeat, a column this morning. You sum up by
S p up s p up and the dow indicated up look at what happened overnight in asia. The nikkei opened up in europe where there is active trading, youll see green ar owes across the board. The ftse was up more than half a percent. Youll see at least the 10year is yielding 1. 8 big news, weworks board now weighing two competing Financial Rescue offers. Expected to accept an offer from softbank to take a controlling stake in the company the decision could come as err will early as today the are rescue package from sofk to buy up to 3 billion in shares held by other investors they would also put together 5 billion in loans sources say theyll pay the founder adam neumann up hundreds of millions to leave you are paying him twice. Hes the only one who has made money on this deal. Meanwhile, theyll begin layoffs almost immediately of almost 2,000 people. One of the reasons they delayed the layoffs is they couldnt afford the severance youll wait here for adam neumann to go home im told that will ke
The chopping block the New York Times is now reporting that as part of a possible settlement to resolve thousands of federal and state lawsuits the Sackler Family would give up ownership of Purdue Pharma the company blamed for much of the opiate epidemic and paid 3000000000 of their own money but for that but the punishment for the socceroos wouldnt end there the times goes on report that in addition to that there are 3000000000. 00 cash payout the sacrilege would sell another drug company they own monday pharma and contribute an additional 1500000000. 00 from the proceeds this could essentially force the Sackler Family out of the opioid business to the tune of 4500000000. 00 just on their own expenses but are just bankruptcies and fines enough does that bring justice to the millions upon millions of lives destroyed by the opioid epidemic. Lets point out as we start watching the whole. You. Want to. Treat this like real that its like. As if the plot of. The day like you know that i got
A lot of. What they like you know that i got. With. This. Is exactly. What the watching the harks i am entire over the top of the hour. Live you know tell us interesting because youve actually ive we have ordered through a long time and i would say probably the Sackler Family in the for per do pharma is probably a close 2nd to lead the jeffrey upstream case for something that youve followed for a long time since you started this group like digging into like their accountability and what theyve done through the Opioid Crisis yeah they got a lot of you did i know you have always some of the worst you know as a woman on the internet you sort of are used to a certain amount of the rats or. Things coming to you but it was actually a the idea that i suggested even 6 or 7 years ago 6 years ago that the pharmaceutical companies were paying doctors and they were the ones pushing mass and thats what was pushing me and i got a lot of a lot of heat for it and now here we are and every. Also on thi