Nasdaq down by about 20. Lets get to the other story of the morning. Charter communications buying Time Warner Cable for 195 in share in cash and stock. That deal is about 55 billion. They rejected charter last year instead going for the comcast transaction. Todays news comes after months of speculation and after contrast dropped its 45. 2 billion merger agreement over antitrust concerns. That transaction was blocked but time warner looking like theyll get the better deal in all of this. We all looked at the comcast deal and said are you crazy youre going to get nothing when this is all over. 2 billion break up fee. But more than that you get a much higher price and a much greater likelihood that this deal will go through although rich greenfield had a very interesting comment this morning, i dont know if you saw it which suggested that while everybody thinks this will go through if people know im going to get it to airlines joe so watch out, if the government was wary they allowed the
Britains Prime Minister heads for a post election deal. And welcome, everyone, to the show. Weve been digesting the recent pmi data across the youre euro zone. We got the latest data on april manufacturing at 52 versus the 51. 9, and 52 which is the break down for march. Interestingly enough, the numbers out of italy came in pretty strong. Italian april manufacturing pmi up to 53. 8 to 53. 1 for march. A 12point high attributed to strong export orders. Some of the upbeat orders out of spain as well thanks to a rise to exports. A boon for spanish recovery. German slowed in the month of april to 52. 8. It did beat forecasts of 51. 9. Weve been taking a look at the euro dollar holding flat at 1. 11 down about. 4 against the u. S. Dollar. Chinas manufacturing pmi has disappointed investors falling at its fastest rate in a year. Its suggested that factory ended at 44. 8. So the stimulus bandwagon rolls on thats the market expectation and as you noted, Mainland China front running the idea o
And then europes hanging in there as well, german Business Sentiment at an 18month high. Our road map begins with the market. More history as the dow closes above 16k. Is the world getting ready for the santa rally . Gap shares falling on news on its Quarterly Results as were one week from black friday. And pandora shares fall on earnings while spotify could be worth 4 billion. People are beginning to Pay Attention to the percentage of investment people have in stocks, getting close to the levels we had in 2007. We can always look back and pick a time where it seems that was the top. Imagi margin debt is an important indicator for the top. What i like about the companies, they are levered to asia and europe. How many times does jamie dimon say we need rates higher. And now youre seeing the move to the financials and Goldman Sachs is in the financials, too. What may be good for the financials may not be good for the rest of the market, if it includes a taper tightening, a less dovish fe
For it all. It is thursday new york city. What would you rather do . Freeze and sit in traffic or open up a facebook account . Wow. I will get back to you on that one. It is time now for the new speed. Top stories from around the world. Consumer spending drove the u. S. Economy in the fourth quarter. The gdp rose at an annual rate of 3. 2 , matching the median forecast. The tumor spending increased by the most in over three years. 70 of the for overall economy. Google shares are rising after y sold mobility unit motorola to lenovo. It held onto most of the patents acquired when it bought the motorola unit back in 2000 well. Meanwhile, investors in hong kong sending the stock down over eight percent for lenovo. , kinder,a world gentler. They will take saturdays off at citibank. They dont have to use their Vacation Time each year. Similar policies and that productivity and keeping bankers from leaving that warm, fuzzy banker feeling. I dont know if i believe it or know what to do about i
Line for q2 and the second half of last year was the strongest since 2003 and europe is trading much better than the nikkei would have suggested. Our roadmap begins with the market. Stocks are set to open in the green this morning after the major indices fell more than 1 in trading yesterday. The good gdp number helping sentiment after the economy grew as we said by 3. 2 . Speaking of green, shares of facebook are soaring after sales and profit topped estimates thanks to a major increase in mobile ads. Profit for the year totaled 1. 5 billion compared to 53 million in 2012 and what a difference two years makes. Google is selling motorola to lenovo for just under 3 billion. Just a couple years after buying the company for about 12. 5 billion. But well begin with the markets. Futures are pointing to a higher open after yesterdays selloff on the gdp reports and claims and the economy is growing 3. 2 in the last quarter shrugging off the effects of the Government Shutdown and the debt stan