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ibm shares as carl said moving in the opposite direction at least eight firms cut their price targets on the stock, this after disappointing sales and guidance. tim cook optimistic about apple music and it s more than 6.5 million paid users. first up, yum! brands announcing plans to split into two publicly traded brands, yum! brands in china. them focus on expanding those chains around the world. that separation expected to be completed by the end of next year and continues this trend of companies like alcoa, ge trying to spin, sell off, divide into two. yeah, i mean, my problem here is that i don t like when this is happening, it s happening at a time when there still isn t any stabilization in kfc. taco bell might be added to china. they don t have taco bell in china, but it could be introduced over time, yes. new ceo, members from taco bell. the new ceo of china or yum! overall? yes, the new ceo for china, he has a good reputation. look, i think that ....
performance in five weeks. shanghai composite was down. it was driven by an afternoon sell off in small caps. weaker than expected trade data added to speculation about more boj stimulus so it s not just here where they re addicted to what the central banks were doing. you can see it taking place. earnings are the name of the game. we ll be hearing from boeing, coca-cola, kimberly-clark and many others. stay tuned, buckle your seat belts. here we go guys. lam research buying kla-tencor for $67.02 in stock. that deal valued at $10.6 billion. lam ceo will be joining us tomorrow right here on squawk box. ferrari set to begin trading today. $52 a share. that s at the top of the expected range. fiat chrysler sold about 10% of its stake in the offering. we ll have much more on the story from kate kelly and the big political story of the morning, paul ryan is going to run for house speaker but only among certain conditions and among other things he said he would only take th ....
first day. different story for valeant. the pharma giant taking it on the chin on a report by a short seller. western digital buying sandisk. the tech stocks that could be next on the chopping block for the next to be acquired. and scott wapner just talked with carl icahn. he s taking his activism to a whole new level and realm targeting corporate tax reform. but we begin with the red hot ipo of the day, shares of ferrari are revving higher on their first day of trading. a bit of a rally in stocks overall. we re sitting at 12,290 but just earlier today we cracked above that 17,300 mark for first time since the august flash crash. it seems like we re tracking for the best percentage gains since october of 2011 for the dow and the s&p, bob. s&p is up 6% for the month. a little bit of a stealth rally. really tina there, is no alternative, no other places to put your money right now. i want to start with the ferrari ipo. $48 to $52 was the price talk. it priced at t ....
- i m tom mcdowell, president of concorso italiano. i have been a car guy since i was very young. my cousin brought a alfa romeo to my father and i had never heard of what alfa romeo. i knew ford, i knew chevy and i knew this thing called porsche, but alfa romeo, didn t know what it was. he showed it to me, got my dad infected and then all of a sudden, my older brother s infected. the contagion starts spreading through the family, to me, to my sister. the family s largely been involved in alfa romeos and fiats. concorso italiano starts with the cars. obviously it s italian cars. it s really more of a celebration of italian style and that includes food and fashion and music. we re going to have strolling italian musicians around the grounds tomorrow, that should be a lot of fun. it s always very soothing music, a strolling mandolin. we even got a strolling accordion player. i don t know how you have strolling electronic accordion player, but we re gonna have it. we re go ....
gold, crude moving lower this morning. the dollar setting some new highs. just now, jobless claims rise to the highest levels since june. poised for a higher open, lulu lemon beats on the top and bottom line. raises forecast for the rest of the year. another retailer trying to regain its cool. more from target, as well. the exclusive interview we just mentioned, that newly minted chief of sprint will sit down with favre. oil prices falling on worries about growing supply, international energy agency lowering its oil demand forecast. this on the morning after the president delivered that primetime address outlining his strategy for combatting the threat from those islamic militants, including american air strikes in syria. this counterterrorism campaign will be waged through a steady, relentless effort to take out isil wherever they exist and support for our partner forces on the ground. this strategy taking out terrorists who threaten us while supporting partners on t ....