Experimental drug blocks the return of Breast Cancer in women. Blue chip records, the s p 500 fyl out a small gai 300 , thats quadruple. Another big gainer saw shares climb 11 on surging sales of its ms treatment. Meg terrell has more on this big day in biotech, what is behind the numbers at puma and bio again and what investors can look forward to. Reporter stocks are known for versatility, big risk, big reward. Puma soared on the drug for Breast Cancer. In a trial of more than 2,000 patients the medicine helps people live for 33 longer without disease professing. The drug was tested for a specific genetic mutation. It will apply for approval in the first half of next year. It would bring in 4 billion according to estimates. The results may also make puma a likely acquisition target analysts said. The ceo is known for deal making. He sold the last company, couger biotech to Johnson Johnson for a billion dollars in 2009 and a blowout day for the company that topped estimates for Second Quarter results and raise the full year guidance for the ms drug. We had a great quarter, revenues are up 40 and eps up 52 versus q 2 of last year and really driven by the base ms business, our new oral drug has continued to perform well in the u. S. Its been launched in europe now. Bio again received good news. The doctor weighed in on the issue of corporate inversion or the deal making for tax purposes. While bio gen wouldnt consider the deal for tax purpose, they need to make a change. They can pay more than American Companies for a set of assets. That disadvantages American Companies. The way to stop the inversions is reform the tax code and that means we need a Corporate Tax rate competitive with the rest of the developed world. Reporter investors will look to the pipeline, the data expected to be reported this year. For nightly Business Report, im meg terrell in boston. Another wellknown biotech scientists reporting blowout earnings after the bell adjusted profits easily beat Second Quarter wall street forecasts. Revenue, also, easily topped estimates led by sales of the hepatitis c drug introduced last year. Its already been used to treat 80,000 people. Sales last quarter hit 3. 5 billion. Shares of gilliad rose and pulled back in after hours trading. On wall street, stocks ended broadly higher today. The s p at an alltime closing high with Solid Earnings out weighing investor concern about conflicts in the middle east. The dow was the exception, big downer off 27, bowing was the drag there, more on that in a minute. The nasdaq up 17 and s p added three points. After the markets closed today, investors turned their attention to facebook and its earnings did not disappoint. It blew away wall street estimates. The Company Earned 42 cents a share and after you strip out onetime accounting items. That was a full ten cents above the consensus forecast. Revenues up 61 , yeah, 61 to 2. 91 billion. Mobile ads the driver there. It doubled to more than 18 . A knockout quarter for facebook. Shares jumped in post market trading and finished the regular season. One of facebooks Biggest Challenges remains finding Revenue Streams before competition. Julia boorstin looks at what the company is working on now. Reporter facebook and twitter are dipping toes into Online Retail to tap into the 304 billion annual e commerce market. Facebook is testing buy buttons in the news feed and twitter is exploring in tweets, which may look similar to this. To enable consumers to buy without leaving social platforms. Perhaps more important than retell revenue, this is about better serving advertisers. Youre seeing retailers, amazon increasingly advertising on facebook, seeing more and more direct marketing dollars flow on facebook than everybody thought including the company thought would be the case. Reporter facebook is attractive to retailers not because it has so many users but detailed information who they are and what they like. Just like facebook was a game changer for Small Businesses without a web presence, facebook e commerce tools could serve a similar role giving retailers a way to reach online shoppers. Analysts say twitter is not as well positioned. It may be harder for twitztw to pitch itself as an advertiser. It will be harder for them to make that pitch to retail advertisers than it has been for facebook. Reporter twitter is working to correct that with multiple options including a way for consumers to save deals for credit cards to buy later in stores. Thanks to twitters Payments Company card spring. Facebook launched a save now button for articles, which it could expand to retail. Bringing social deals to brick and mortar has bigger potential. 85 of purchases are made in stores. For nightly Business Report, im Julia Boorstin in los angeles. If you dont own individual shares of facebook, shares you may own and popular etfs do. According to morning star contra fund is the top holder and van guard total stock market power guard 500 index and van guards institutional index. One dow component posting earnings after the bell was at t. The nations number r two wirels provider made 62 cent as share, a one penny a share miss. Revenues also rose but were also short of wall street forecasts. Even though it saw a record low number of subscribers leaving the company. Shares initially fell in after hours trading, as you see there they finished at 35. 88. Morgan brenham with more on at ts Second Quarter earnings. Nice to have you here. What did you see in the numbers that stood out . We seen so much Competition Among the u. S. Wireless providers and i think thats showing up here in at ts earnings. The company had the strongest Wireless Subscriber growth in five years. They had the most subscribers staying on and not leaving the company, as you mentioned, ever in the history of the company and yet, we saw profits down and the reason is because why . Because you have tmobile and other competitors slashing prices and putting pressure on at t to slash prices. Its also been moving away from subsidizing smart phones and in return for twoyear contracts from customers to having customers pay for smart phones but pay less for services and all of that is weighing on the profits for at t. This company is transforming itself right now. We have to see what happens in the second half of the year. Morgan, thanks very much. Telecom is the smallest sector in the s p 500 accounting for 2 of the total weight but has some of the Biggest Companies in the country in it like at t. There just arent a lot of them. Are any of them worth your investment dollars . To answer that question today and verizon yesterday is craig moffett. Craig, welcome. Good to have you with us. Before i get to the specific pick that you like best in this sector, how do you rate the sector overall . Do you like it, not like it . You know, i think right now you would have to say its at best fairly valued. Ive actually been relatively negative on the sector for the last 18 months where i think it was very, very expensive 18 months ago. It has badly under performed for the last 18 months but even after that under performance, its only in line with historical average. The sector is cheap enough to get excited about. What is your choice in this sector . Is it one of the big two or a third party . No, i think right now, at t and verizon havent gotten to levels where they make sense to own and as morgan was saying, there are a lot of weaknesses on display in at ts earnings. They were pretty bad today. I think if there is a name to buy in the sector, its still tmobile. There is a lot of questions whether tmobile will or wont be acquired by sprint but at least in value and if you look at the one carrier thats actually growing its business and doing it profitably its tmobile. And you say, though, that you give the likelihood of a tmobile sprint combination a very low probability of clearing regulatory. Apart from that, do you think its a Good Business idea . Sure, look, if you can consolidate a business with four players down to three, it doesnt take a rocket scientists to realize its an effective thing to do. The challenge is the department of justice and the fcc has been pretty clear in saying if youll forgive the reminder, the read my lips, were not going to go from four to three and its very hard to see how given how entrenched the department of justice and the fcc are today, how were going to get to a merger. Thank you very much, craig. Appreciate your pick, tmobile. Craig moffett. Moving to two stocks that headed in of sipposite directio delta soared 5 . Why is one flying high and the other having trouble getting off the ground despite strong earnings . Phil lebeau explains. Reporter while the Airline Industry is soaring with investors, the company that makes roughly half the worlds airplanes is not, boeing beat the street by a wide margin and raised Earnings Guidance for this year and still its stock fell. Why, investors arent happy about boeing, not raising the guidance for cash flow and there are questions about the strength of the backlog but the ceo isnt worried. He sees the current boom in orders for new claims lasting several for years. Every sign i see is that this Technology Changeout is going to look at the airplanes, 777 x is going to keep going over the next decade or so, that i can see now. Reporter with packed planes, fuel costs in check and Strong Demand in the u. S. And europe, profits are soaring up 17 last quarter. Good enough to beate estimates because of its strong execution. Were intensely focused on every single detail of our operation and our Customer Service and we are not shy about making Big Investments for our customers. Reporter one investment thats paid off, delta being the First Airline to buy a refinery to lower jet fuel costs. This quarter were at 2. 93 a golla gallon. The industry average excludeing deltas 3. 08 and weve been doing that quarter in and out. Investors are still bullish on the airlines. The transport index climbed to the highest mark ever. Well see if that continues tomorrow when five airlines, including united, american and southwest report their Second Quarter earnings. Phil lebeau, nightly Business Report, chicago. The faa today extending its ban on u. S. Airlines flying to te tel aviv for at 24 hours after another missile. The u. S. Transportation secretary alex fox explained the reason behind the ban and another ban on u. S. Commercial jets flying over Eastern Ukraine imposed last friday. Were continuing to monitor the situation in israel and other parts of the world. Safety is the very First Priority for the u. S. Dot and faa. We will work in our government in the conversations that occur between governments continue. Individual airlines in france, the netherlands and germany have all banned flights to israel but israeli owned airlines continues to fly between the u. S. And tel aviv. General motors issued more recalls, toting more than 700,000 vehicles, none of the e new recalls are related to faulty ignition switches. One is to replace a bolt in power seats in some sedans. So far this year, gm has recalled more than 25 million cars and trucks in the United States alone. And still ahead, the securities and Exchange Commissions new rules for Money Market Funds. How it might impact individual investors and businesses. First, on this big earnings day, lets take a look at other Earnings Results. The securities and Exchange Commission voted to end the industry today. In ordinary tore keep the 2. 3 trillion market safe in the event of another financial crisis. Hampton pearson joins us from washington with more. What did the fcc do today . Interesting day at the fcc. By a 2 3 vote, they approved Money Market Funds, the fcc will require the price of institutional funds to float, meaning investors could lose principle if values fall below a dollar per share. The other big change, giving Money Market Fund boards the ability to suspend if assets fall below a certain threshold. The tool designed to deal with what happened during the 2008 financial crisis which of course has been the game changer for regulators, the layman brothers collapse triggered the primary funds that broke the buck with the value of shares falling below a dollar, the next week investors pull some 300 billion from money funds, 14 of total assets and it was that experience thats really been the catalyst behind the sixyear battle for the Regulatory Reform we saw enacted today. You used an important word in describing the Money Market Funds that are effected here, institutional funds. What does that mean and does that mean that the quote retail fund that i might invest in doesnt fall under these new rules . Well, again, as you mentioned, it depends on what class of investors were talking about, not much impact for individuals. The primary focus as we talked about, institutional funds, as for businesses that use money markets to manage their cash, the u. S. Chamber of commerce saying today the new rules would increase costs for them. Those regulations, by the way, take effect in two years. All right. Hampton, thank you very much. Hampton pearson reporting in washington. The beverage and snack food g giant pepsi co, strong results came despite a decline in north american sales in carbonated drinks and raised the fullyear profit forecast. Shares up 2 , 90 90. 83 there. Glaxo smith kline respiratory drugs struggled in the u. S. The stock was off about 6 today to 50. 04. Dow chemical reported revenue and earnings that topped con consensus. It was helped in segments and margins improved because of higher prices and tight control on cost. The ceo says that was key to the strong results. Our return on capital is up 150 basis points year after year. If you dont focus in on cost, capital and cash in this economy, you wont grow margins no matter your agenda. Shares rose 3 . Zylings plunged. The chip maker hit by weaker than expected sales in its defense and wireless businesses. Xilinx gave weak revenue guidance. The stock was 14 lower, 41. 26 was the close. Caterpillar also traded lower after the Company Announce add sales decline. The maker of tractors and gear said total retail sales from the april to june period were off and routine Machine Sales fell from march to may. Shares finished at 108. 38. Big u. S. Companies mcdonalds, burger king and more have a food scare in china after a meat supplier there sold beef and chicken that was well past the sell date. Five people are under arrest and the incident is raising questions how officials could prevent future scares. Reporter mcdonalds ceo don thompson said on a Conference Call the company felt deceived after a chinese tv report allegedly found food safety violations at one of mcdonald suppliers. Chinese Police Arrested five people, including the chief of the shanghai unit and quality inspector and regulators believe the violations were organized by the company and not an isolated incident as described. Authorities seized 1,000 tons of suspected Meat Products from the factory and 100 tons at restaurants of various customers. Fast Food Companies that use osis products are trying to distance themselves from the supplier. The chinese unit not only supplied mcdonalds and yum brands, which owns kfc but burger king, subway, papa johns and ikea. It turned into public debate. Many people are angry but more have been defending the fast food giants saying the problem isnt the companies but Chinese Workers and too many are not disciplined enough to add veer to tough food safety standards. Coming up, money habits of millianals. First, more Earnings Results for some of the biggest nations. The market moves a lot of material by rule but not always safely, especially when it comes to crude oil. There may be new rules with speed limits, braking controls and a Testing Program for flammable gases and liquids aimed at making transporting oil by rail safer. The rules come after fiery derailments, including one in queue be queue beck. The ceo is concerned with safety and reviewing new propels. Norfolk southern reported Second Quarter profits that rose on broad Revenue Growth and increased shareholder dividend by nearly 6 . Shares, though, fell a bit to 106. 84. Lazy, entitled and narcissistic, used to describe the millennials, ages 18 to 33 criticized for lacking a strong work ethic but as the youngest generation enter the work force, they have an at butte many others might well learn from. Sharon epperson has more. Reporter for many young adults in 20s and 30s, the Great Recession taught them save now to survive catastrophic economic and financial challenges later. I would say