Well tell you what that is and why some traders feel the stock could soon take off. We start off with a wild day for stocks. Youre thinking, what are you talking about . The dow is swinging as much as 300 points after the central bank announced another dose of free money. Guess what, stocks shrugged. Is the free trade money over in our Central Banks out of bullets . I dont know if theyre out of bullets but theyre certainly losing an awful lot of credibility. Today was an insanely wild day. If you were just walking the stock market from 9 30 to 10 00, you missed most of the action. The euro was fluctuating. Mario draghi was talking. Multiply it by ten for stocks. Youre looking at a 10 to 15 decline relatively when youre talking about currencies versus stock. That was a big move. Then it completely ripped to the upside when mario draghi said, you know what . Were probably not going to cut rates anymore. Were probably done. Thats where they lost credibility. Then you saw stocks start to r
Stories this morning. Deal news dominating this morning. Valeant ends the buyout deal for allergan. They made an unsolicited deal last spring. It looks like the soap opera could end, 210 is more than they expected. Hackman and valeant are going to share the profits that ackman has reportedly made with the stock at 40 . This is a winwin situation because of the way he structured this. But valeant shareholders effectively split the profits with ackman. With the purchase there. Thats pretty interesting. We will see what they can do. I think that 210 is sort of a knockout blow. But because the expectation was that valeant could only go to 200 or 205. Valeants ceo said they were going to be getting great tax benefits out of the deal. So the question is, what does ackman get out of this . Did you just say that the stock is at 213 . I could be wrong. There could be a higher bid potentially. Wow. There it is. Look at you. Always good to be right. Well, i dont know. Maybe theres more to be had
I have mentally prepared myself to go to jail. The serial stowaway gives a tearful interview jailhouse saying she doesnt like to travel. The reason she says she keeps trying to sneak on planes. Mornings on 2 begins right now. Good morning. We are live in napa, where tension is growing among Business Owners after a single redtagged building is creating a domino effect impacting the surrounding businesses. Tara moriarty is up there this morning. Coming up in a couple of minutes, shes gonna tell us the reason the decision a Property Owner made before the earthquake is now having widespread consequences on a lot of his fellow Business Owners. Thank you for joining us. Its friday, august 29th. Im pam cook in for Tori Campbell. Good morning. Im dave clark. Lets talk about your weather and traffic. Steve knows everything about it. I hope so. We have a lot of high clouds and fog. A little change in the pattern. The high clouds coming up from what was hurricane marine. More of those over the no
Give mostly cloudy skies to partly cloudy skies. The higher clouds so far to the north. 60s orinda and lafayette. That is usually a sign it will be cooler today if it holds. Oakland west, napa west. Breezy at times. Highest today 60s and upper 80s and 90s. We are looking at a nicer commute than normal. Its expected on a friday before a major holiday. This is a look at highway 24. The drive time hasnt changed from being pretty much standard. On 580 westbound that is another commute that shows me things are better than usual. We do have a little bit of slow traffic. You will see crowded conditions. 6 02 lets go back to the desk. We begin with our continuing coverage of the napa earthquake. Building inspectors say the problems are far from over. This historic home shifted off its Foundation Just yesterday. Its among the growing number of buildings that are deemed too dangerous to enter. Some Business Owners are also angry their buildings are also red tagged even though they are structural
There tonight. Reporter police used smoke canister to get protesters off the streets of baltimore. We have bottles thrown at police. Reporter Water Bottles were hurled at the officers. Anyone out past curfew will be stopped unless they are out for work or a medical emergency. Reporter protesters are promising to be out in force through saturday. We are hearing reports of another incident in another part of town where police had rocks in bottles thrown at them. One officer did suffer some injuries. Police say, and some arrests were made. In baltimore, im kris van cleave. Back to you. This is the scene last night. 144 cars and 15 buildings were set on fire. It is the worst rioting in baltimore in almost 50 years since 1968. 235 people were arrested last night. One guy, not arrested, a 16 yearold named michael. Get your [bleep] [bleep] [bleep]. Yeah, his mom gave him a piece of her mind and hand on live tv after spotting him throwing rocks at the police. Today, toya graham spoke to a cbs