Inc. Portfolio power lunch starts right now and happy friday your money carving out decent gains in the major indexes the dow trying to end the week higher just like the nasdaq is doing. The nasdaq is now more than 5 for the year melissa highlighted general bills and blue buffalo and if you are investor, go home and give your dog a pet tonight because that stock is soaring. It is up almost 17 . Other interesting stocks today, go daddy hitting a new alltime high on pace for its best day since august of 2016 Red Robin Gourmet Burgers rallying and Planet Fitness strong on the earnings and out look now to michelle. You have to work out after you eat a red robin. Thank you. The dow is up more than 200 points and lets get to the Market Action here on the floor. Bob pisani joins me. We are watching to see what happens for the rest of the day. Because were just off the highs. Look at the s p 500. Every day this week there has been i g a gap up and then we move down and close near the end of th
You are right, tyler. Expectations were that after buying 55 of europes allianz, walgreens would move the headquarters to switzerland or the uk where corporate taxes are lower. While the firm is paying 15 billion in stock and cash for the rest of the european pharmacy, it will remain head quartered in illinois, where it exto pay a tax rate in the high 120 range. Accounting expert estimates walgreens could have saved 2 billion in taxes over four years by rye domiciling overseas, but on a conference call, the ceo saying the board carefully reviewed doing a tax inversion, but decided it wasnt in the best interest of shareholders. While we fully understand and considered the significant finance benefits when weighed against the risks, the company and board decided it was not if the right course of action. Democrats, including president obama are exploring ways to stop firms from inverting. While a walgreens spokesman said Political Risk factored into the decision, a bigger factor was wheth