Some of these names, court, have had a crazy morning already. Thats exactly right and its only going to get crazier. Next week is black friday, so walmart shares higher, almost 9 after another quarter of what the company is calling broad based strength so profit and revenue beating estimates. The retailer also raising its full year guidance to a range above the current consensus. U. S. Comp store sales up 2. 7 . Thats the best number in eight years. 13 straight quarters of growth there. Now, theres an estimated 30 to 50 basis point hurricane benefit with that stock up on replenishment or purchases after the hurricane, but even without it youd be looking at a 2. 2 to 2. 4 comp and that would still be the strongest in years. So walmarts u. S. Ecommerce sales contributed 80 basis points to the total comp pretty typical net u. S. Online sales grew 50 from last year that growth rate is down slightly from the growth rates of the last two quarters as anniversary of that jet acquisition that h
[inaudible conversations] the afternoon. I am so excited to be in this crowd to talk up the sinclair tribune merger and ownership if you dont know me i am a distinguished fellow at the Georgetown Institute on foreign policy. Before we start early to think a couple loved institutions in the institute for public representation that is part of Georgetown Law Center and of those alleged foundation for sponsoring this event also senator Richard Blumenthal we hope to hear from soon and also jaime who is a Research Fellow here georgetown and by personal locklear cantering a fabulous job and also the head of the institution in that you may have heard broke her leg when she and her child was shopping when shoplifter knocked them over down a flight of stairs. So of people could send her well wishes she is doing a fabulous job running the institute also other georgetown students and who will be helping today with logistics. So let me step set the stage. Whether we talking about . Made the shares
This is bloomberg technology. Coming up, the doj is hitting at t hard. Details on the lawsuit that could block at ts 85 billion takeover of time warner. Er speeds up its driverless push, striking a deal with volvo. Details ahead. Plus, more dealmaking in the chip industry. What the 6 billion acquisition means in its continuing consolidation. Lets start with the lead. The u. S. Justice department is suing to block at ts 85. 4 billion takeover of time warner. This is a major blow to the carrier to create a media and telecommunications empire. At ts chief counsel said he is confident the court will reject the claims and the company is withng a press conference the ceo is expected to speak. We will bring you the headlines, but first ed hammond just listened in on the doj call and joins with the ceo is expected to speak. Also with us is cory johnson and bob odonnell with technalysis research. Us. Ed, you have been listening in on the call. What is the Justice Departments rationale . Ed they
2017 has extraordinary brought it into eight very exclusive club. That is the Fifth Company worth and access of 500 billion, alongside apple, googles parent alphabet, microsoft and face book. It also means it has beaten alibaba to the milestone. News, 24 hours a day, powered by more than 2700 journalists in more than 120 countries, this is bloomberg. Lets take a look at the markets closed, aboutust 4 10 of a percentage down. Japan, we are seeing gains all across the region. Emily this is bloomberg technology. Coming up, the doj is hitting at t hard. Details on the lawsuit that could block at ts 85 billion takeover of time warner. Uber speeds up its driverless push, striking a deal with volvo. Details ahead. Plus, more dealmaking in the chip industry. What marvells 6 billion acquisition of this Company Means in its continuing consolidation. Lets start with the lead. Our developing story the u. S. , Justice Department is suing to block at ts 85. 4 billion takeover of time warner. This is
David faber at the new york stock change well talk about the move and impact on tech, media and m a. Feet futures are up well get housing data in an hour and yellen speaks tonight the Justice Department sues to block the merger with time warner saying it would hurt competition and result in higher prices for consumers at t says it is breaking with decades of antitrust precedent by blocking a merger of companies that dont directly compete with each other. Well talk to the lead attorney in just a few moments. As you heard stevenson say, the suit defies logic and erat cal departure from decades of antitrust precedent. It is surprising even now, that we have seen the lawsuit and weeks leading up to the possibility of it. Remember when the wall street journal first reported the possibility it could be blocked. Many people were like, what, really when this deal was announced frankly, action on the antitrust front was way down the list of potential risks and yet here we are with a case coming