Highest level since last fall which has made the markets a little uneasy. The russell 2000, the biggest loser today. Besides the moving rates, oil and gold is higher. The dollar is higher. United health, not higher. The Government Regarding medicare plan payments and test the following again as delivering numbers missed wall street estimates. This takes us to our talk of that day. The overstock market about to take a bigtime breather. Lets ask our bigtime panel. In greenhouse of alternative asset management. Lauren goodman and christian bitterly. As you see everybody is with me today. Nice to see everybody. I will come to you first. Is today about yields, nervousness about where they may go and that the fed may not cut as soon as we hope . I think its a garden variety pullback. Weve heard day after day that we are rather touching alltime highs or within reach of all time highs, so i dont see anything to read into today, more than geopolitics resurfacing, yields popping up. The question
And pays out 60 of it earnings through difficult depds and has bought back stock on what people think are attractive prices. This does not sound like a company that need your help. Its a Great Company and a great business and the stock has done great for a long period of time the issue for shareholders is not how well the company has done over the past and how well it will do in the future bottom line is adp has underperformed relative to potential. Youre judged relative to your potential, not relative to fat issus quo and this is a company with huge opportunities to improve its profitability. Its not an efficient business, and in fact many things you mentioned explain the reap why are the company has underperformed when you have no debt and have a really profitable business and dominant market share. Those are companies over time that get less efficient because they dont have to be as efficient, and that lack of efficiency becomes an issue for the business Going Forward and becomes a
Meg is starting us off with the late sgles bristolmyers has been seen as vulnerable to potential activism of even takeover. You basically pinpoint the day this started if you look at it stock price over the last year. Look back to august. It had Clinical Trial results around august 5th that were very disappointing to the street on big lung cancer drug that investors saw as putting it as a slight disadvantage to competitor merck in the space. So carl icahn reportedly taking this stake, reported by the wall street journal yesterday. And Jana Partners wrung so new directors out of bristolmyers yesterday and 2 billion buyback. Icahn apparently think that bristolmyers is business and pipeline make it a good potential takeover targetnd in addition to opt divo it has several multibillion drugs as well as Rheumatoid Arthritis drug. A lot of people raising eyebrows about this takeover because it would be a gigantic deal. Bristol has market cap of 90 billion. Any premium would put it above 100 b
Today. An accounting issues. Well have the latest details and what it means for the future coming up. Also, etna following uniteds lead and announcing plans to pull out of most of the Obamacare Exchanges this its involved in next year. And will that lead to big price increases now that theres less price competition at those exchanges . Well hear from the ceo of a major insurer whos doing pretty well in obamacare. Thats coming up here. And financials have really missed out on the recent record rally but is now the time to bet on the banks . With more hints the fed may raise rates again. Oh, by the way, a big move by an investor into one of the banks. Well hear from both sides of the debate coming up. A lot to get to. Lets begin with the markets pulling back from yesterdays trifectas. We put it. Closing the Closing Bell Exchange today, Michael Robinson of money morning. Com, ben willis of princeton securities and rick santelli, if its tuesday ric t rickster is back again. Hey, ben, so bi
S p reclaims 2100 a lot to look at including coke and yahoo. Europes relatively mixed, oil is lower as the kuwaiti oil strike has now ended. But first up intel announcing plans to cut up to 12,000 jobs, about 11 of the work force, weaker demand for pcs ask that exclusive coming up in just a couple of moments. As we said we brought in jon fortt to lead this interesting quarter and interesting plans now for the future. Its really interesting, carl, because we just saw ibm report a quarter where they talked about weakness in latin america, particularly brazil doing some cuts overseas. Now intel coming in saying the pc market is weak, but also the Data Center Enterprise demand was weak, its cloud demand thats stronger. Makes you wonder overall when it comes to the end user whether that end user is sitting at home or in a business or even at a data center that the business controls, what really is happening to demand for devices that run on intel chips. Of course stacy smith, cfo is going t