Intensifying. New data showing that the economy slowed at a pace than originally anticipated. Nasdaq starting off at a a closing high, and 14year high. And the guidance says it is experiencing severe disruption from the winter, and gap suggest suggests gaap suggests it will fall more than expected. And on mad mad money last night, cramer talked about raising investments. And we will hear from apples tim cook. And in the first full year results are lower after discovering fraud in the subsidiary in mexico, and they go into detail, jim. This is not a minor story, and i know that when you look at the big revenues of citi you say, so what, but this is a major client with a checkered history and it is a 360 million and they say, 230 million, but 360 million pretax the. Okay. And you think it is important because you look at 360 million pretax fraud resulting in a 235 million aftertax writedown and it gets complex. It is complex. But related to transactions between penmax and vanimax who is
You know what i think makes for it . Good breath means the stocks from many sectors are all going up. And you know what, theyre going up for many different reasons. We can learn so much from the companies that are hitting alltime highs right now from the s p 500. Do you know that 5 of the s p reached that fabulous mark today . When you consider the sectors theyre coming from, you can understand why this rally is, indeed, so powerful and keeps refueling. Even as the s ps in the rare position of being up more than 20 going into november, and that hasnt happened that often. This is a remarkable rally because of how many different kinds of companies are going up. Perhaps most important, lets start with the ones that really caught my eye. Are the transports on the list . U. P. S. And fedex to start. Think what happens to get these stocks to the alltime highs. First, Global Commerce has to be improving. Second, their costs have to be lower than expected because of streamlining and better cos
Minutes. They are raising another 1 billion in capital which we dont want to get lost in the shuffle. 28. 7 conversion premium. A 6 cue ton. Thats pretty rich stuff for a company that many say, jim, didnt necessarily need to raise money or had plenty of cash, that cash being part of it. Any potential appeal that it might have had. As for the process itself, we all know it was a difficult one. I had pointed out many a times, the letter of intent that was signed by fairfax back in late september didnt obligate them to anything and financing a potential deal from them was going to be extraordinarily difficult as we reported right here at squawk on the street at 9 a share. They step up for 250 million of this convertible the company is issuing today. They are becoming the lead director, correct . Correct. Major turnover here. This seems to be one that every month is doing worse. So i know you said they dont need the capital but, to me, i look at it. They said they dont need the capital. Wh
Been watching with the euro. A decision is expected around 7 45 eastern time. But the Key Developments for the market could come at 8 30 eastern. Thats when the ecb president mario draghi is holding a News Conference. Well get previews from geoff ket mo c cutmore in europe in about 20 minutes. Jobless claims are seen at falling slightly to 335,000. As for the markets, joe mentioned the dow closing at a historic high. The s p 500 rose for the 16th time in the last 21 sessions, finishing within two points of a record. The nasdaq was not along ford ride yesterday. It closed a little lower to snap a threeday winning streak. You did see some of the high flyers that took it on the chin yesterday. You watch the futures this morning and youll see dow futures indicated open down by 20 points. S p off over 3 points. Andrew, back over on to you. We have a lot of Corporate News to get to. Toll brothers is buying a Home Building business of privately owned chipelle industries for backside 25 billio
New york stock exchange. Twitter finally going public today, pricing 70 million shares, 26 each. Thats above the expected range of 23 to 25. Company will raise at least 1. 8 billion and trade under the ticker twtr. The ipo values twitter at 14, 18 billion that, number still to be determined. Well talk with twitter Ceo Dick Costolo right after the opening bell, a lot of other special interviews throughout the morning. Youve been tweeting. How meta is that about just how overallocated this is . I did just about ten minutes ago, speaking to a number of Hedge Fund Managers this morning, who all of course are disappointed in their allocations but not surprised. But for 2 million you get 5,000. You put in for 7,000, you get 10,000. But theyve also been providing color buy as you might expect the underwriter goldman sachs. Ive heard the deal is about 30 times oversubscribed, which is a nice amount. And that the top, you know, ten holders got 50 of the deal, the top 30 accounts got 75 and 300