Numbers, plus his thoughts on the minimum wage. Well see how those new oreo donuts are selling. Fbi cracking down on chinese corporate espionage. The economic bellwethers, caterpillar, 3m moving lower on the back of earnings. Caterpillar ceo was on squawk box earlier and spoke to the global head winds holding back not only the economy but his own business. For us to drive sales and drive employment we need 2. 5 to 3 . Having said that we are doing an awful lot of things internally to make sure we are strong strengthening our company for the future. Its all those things. Weve got oil price cut in half. Commodities are at their lowest for quite a few years. Global growth is slow. All those things combine for a lot of winds buffeting around right now in front of us. Joining us for reaction and how it impacts company our team. Doug isnt the only one warning about the Global Economy and actually showing the results from weakness in china, in brazil, russia and in india. Clearly, this is sha
Nasdaq at 5,120. S p 5002,087 and the russell down almost a full percent. But we begin now with the big deal in health insurance. It is official. An them agreeing to buy cigna for 188 per share in cash and stock. An enterprised are value of 54 billion. Straight to bertha coombs. Combined anthem and sigma would unseat United Health to become the largest u. S. Health insurer with 150 billion in annual revenues. More than 50 million members covering nearly 1 in 5 americans. Anthems ceo joseph swedish aide mitts put admits putting the two big firms together will be challenging but with that scale they can generate operating savings and make them more affordable. It will improper our ability to serve customers across commercial medicaid medicare and International Markets and create greater efficiencies and afford ability for our customers. But the anthem deal taken with aetnas proposed merger with humana would result in the big five insurers becoming the big three. One antitrust lawyer tell
We get whacked upside the head and the pain the house of pain. Can be excruciating by stocks even if its masked by the placid averages as we saw today. The dow slipping 48 points and the s p. 22 and nasdaq declining 1. 9 and boy did it feel worse than that. For some stocks there was no escaping china whatsoever even though the Chinese Market rallied yesterday, we got news out of bmw that was extrapolated with negative pin action. Quite upsetting. To quote a reuters headline, worsening Chinese Market could hit forecast. The article goes on to say that bmw which happens to be the Worlds Largest luxury carmaker warned on tuesday that the financial forecast for this year could be at risk from any further deterioration in the Chinese Market where theyve begun to fall for the first time in a decade, end quote, such as bmw thats squawking while the stock market really ails. Audi, good company. Worldwide sales leader said the same thing not that long ago. Ford and gm, we know theyre struggling
Everybody on the desk likes visa. Yeah. And with good reason. And you cant fault jim for saying what he did considering what the stocks continue to do. Oh, certainly. I mean, these are two bellwethers really in terms of getting financial exposure you know, we had long talked about, well, how do you get the financial exposure do you look at the Big Five Banks . There were moments when we questioned and were skeptical about that but never did that with visa and mastercard and now youre witnessing specific with visa as it relates to europe, thats really gaining momentum right now. Its an environment where you think about it, scott, just with retail sales kind of suffering, visa and mastercard are still doing well im long visa. A lot of us on the desk are well im staying with it. Carrie, you own visa, up 38 year to date and mastercard up 42 over a year they tracked the same mastercard has outdone visa and in that roughly the same pe. Anything not to the like here . We still like visa . We
Maria senator ted cruz will join us. Coming up live ted cruz here in the studio. Shocking footage out of the Mediterranean Sea after a major earthquake strikes off the coast of turkey triggering a tsunami, the latest at least two people were killed and 100 others injured. The trouble continues for chipotle this morning as the number of people sickened at virginia restaurant climbed. The company hit with a report of rats at one of its locations. It is not all good news for amazon this morning, why the federal trade commission is reportedly looking into the companys discount pricing policy, what does the ftse want to know. Markets look like this this morning, we are waiting on a number of highprofile earnings for the Second Quarter. Markets are looking mixed. S p 500 up. Earnings driving the action including General Electric, set to report before the bell that may well set the tone for markets. We will give you before it hit it is tape. Cac quarante and dax index going to negative territ