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
Vice chair fisher on the tape again today. Charter communications buying Time Warner Cable in a deal valued more than 78 billion. Well talk to the ceo tom rutledge first on cnbc. General motors the deal that never was and criminal charges that reportedly still could be. Twitter reportedly engaged in talks to acquire flip board at a 1 billion valuation. First up Charter Communications striking a deal to buy Time Warner Cable for 195. 71 a share in cash and stock will be more than that with charter stock going up. It does consist of more than 100 a share. You can get 115. Rest will come in shares of charter. 78 billion. Roughly 56 billion when you dont include debt. It comes after nbcs Parent Company comcast was forced to walk away last month from its 45 billion deal to buy Time Warner Cable worth about 160 at the time given regulatory impediments of great significance. Stay tuned for a live interrue with tom rutledge. He will be the chairman and ceo of what would become should it actual
Banks report earnings and revenue both handily beating estimates. Earnings dont symptom there. Ibm, and amazon in the next few days. And very close to home, an important week for the comcast time warner merger, a meeting with the department of justice is set to try to ensure that deal is not derailed we begin a new trading week Chinas Central Bank cutting the reserve ratio by one percentage point to stimulate lending. They still, guys a lot of no progress being made regarding greek talks and the deadline that is fast approaches. Then of course 472 Companies Report this week 146 in the s p. I think thursday is the single busiest day of earnings season this week. Industrials, Consumer Staples and technologies are the three groups up to be watching this morning. So far this morning looking pretty good. Even halliburton, which had gotten beat up obviously, managed to post a pretty good beat on the bottom line at least. Its probably worth pointing out that the move by china is very reall su
Then well keep our eye on europe as well, the mix of red and green, a little more green than red on this friday morning. The road map begins with the potential new record for the s p, starting from fresh highs we reached yesterday, strong results from Morgan Stanley and ge will help power things along. Google is also set to open at record highs after it reported Strong Quarter live results. Chinas economy rebounding to the tune of 7. 8 growth for the worlds second largest economy. And shares of chi polt up sharply on a jump in traffic. I could have told you that one from the lines i see. The s p is poised to open at new alltime highs. Morgan stanley chairman and Ceo James Gorman will be a guest on squawk on the street in the 11 00al eastern hour. Lets start with ge. A margin story that has been promised all year long, 120 basis points. I think that was terrific. On top of the 50 basis points in the second quarter. Things are getting better, industrial margin guides i think is very doab
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