Season, jpmorgan and wells fargo out with mixed results and well tell you exactly what you need to know. Charter Communications Says it wants to buy time warner for 132 bucks in stock and cash and twrawrm says how about 160 . Well get a reaction and exclusively interview with tom rutledge in a few moments. Google is buying nest labs a maker of Smart Thermostats and smart smoke alarms for 3. 2 billion, it would be the second largest ever in googles history. First up stocks are trying to bounce back from that poor start to the week. The dow coming off its worst day since september and experiencing its first 1 drop in three months. S p and nasdaq posting their biggest drop in over two months and the Bank Earnings are in the spotlight, jpmorgan and wells fargo out with quarterly results. We can talk about the bank or some of the internals, the mortgage internals, theres a lot to talk about. All people seem to care about perhaps we are out of the banking wilderness and were going to begin t
Over 60 billion. And it is the checkin app that many had given up on, but now foursquare is telling you what is nearby and giving you ads on the spot. We speak to the ceo about the turnaround. First up, google is buying nest labs in an all cash deal, still subject to regulators. It is part of googles push deeper into devices. Nest was founded in 2010 by former apple executive tony fadell and matt rogers. Our senior west coast correspondent Jon Erlichman has been following this story from l. A. As i mentioned, fadell and his cofounder nest feels like apple. I always thought if anyone would die them, it would be apple. Why google . As for the position for google, apple, and samsung in the story, here is how things may be playing out. Google has never shied away from doing an acquisition if it allows them to go into a new area. You wonder if this is their key to getting into the connected home and a bigger way, which you just alluded to. I was at the Consumer Electronics show in las vegas
Mean big gains for democrats in this years elections. Market makers in new york city. Super bowl time for us. They earnings. Nobody loves banks more than a eric and ive. We have heard from jpmorgan and wells fargo, two very different stories. Scarlet fu is in the newsroom to break data numbers. Jpmorgan, their three year streak of record earnings has come to an end because a lot of onetime items. There is a settlement tied to bernie made offs ponzi scheme. Analysts like to call it a noisy quarter when you strip out some of those onetime items, jpmorgan reported a profit beat of the dollar or descends us versus the consensus of 1. 37. They profit beat of 1. 40. A rain check on commenting whether they would have a decline in earnings. What we learned from the Earnings Report in the Fourth Quarter of the treaded friends continuing to improve at jpmorgan even though trading revenue and equities did mi mis. Investment banking fees were higher than anticipated thanks to an increase in ipos a
And i think this is just the beginning. Why . Because in a slow growth world where it is tremendously difficult to raise prices, Many Companies have no choice but to buy other businesses. In order to please their shareholders. These mergers and acquisitions are a huge spurt to the market and the chief reason the dow vaccined 66 points, s p 500 gained. 54 . Nasdaq climbed. Once consolidation breaks out, it tends to spret like wildfire. It is raging through like a bone dry gull which on a scorching hot day. Thats how you can get not one but two for hill shire brands. A sleepy spin off from sarah lee. Which earlier this month itself made a bid for a sleepy pinnacle foods. I was stunned by the 45 bid from pilgrims pride for the hunter turn hunted hillshire brands the beginning of the week. Now i am floored by the 50 bid from tyson foods. It is obviously not over. Hillshire wouldnt have gone out at 52. 76 off the 50 bid, up to 74 in a totally heated session. In retrospect i shouldnt have be
Almost for the year, july of 2013 that we hadnt seen this and then took that up. 244, takes your breath away if youre a bond nerd at least. Our road map this morning starts with that long awaited acquisition apple buying beats music about expensive hardware, streaming music and mr. I owe veen and dr. Dre getting desks. Sound from the code conference coming up. A fourway food fight. An allout bidding war for hillshire. Tyson makes an overthetop bid after pilgrims pride offer earlier in the week the catch, hillshires own bid for pinnacle, come on. Thats over and done with. The u. S. Economy shrinking by 1 in the First Quarter. A bad gdp number but a fourday win streak. That was also snapped. Lets begin with carl, he is at the code conference and lets get more on this apple beats deal, a deal we heard about a couple weeks ago that came together i guess late yesterday, carl. Thats right, david, called the most scrutinized it tech deal in recent memory and even though it is apples biggest d