Pfizer did turn negative late in the day. The potential tieup is a complicated one, and it puts pfizer in a familiar position. Last year it unsuccessfully pursued astra zeneca, but as meg tirrell reports it now hopes for a different outcome. Reporter pfizer confirmed today its in friendly discussions about a potential combination with irish drug company allergan, the maker of botox. Analysts expect the deal value could total 150 billion. This comes a year and a half after pfizer abandoned its 120 billion bid for astrazeneca. After the british drugmaker resisted its advances in a nasty monthlong battle. Many think allergan will be more willing. The company is led by serial dealmaker brent saunders, who in just two years has amassed almost 150 billion in deal activity. He started at eye Company Bausch lomb where as ceo he sold the company to valeant for almost 9 billion in 2013. Less than a year later at the head of forest labs he engineered a 25 billion sale to activeus. After unexpecte
Twitter hopes to raise up to 1. 6 billion in its ipo next month. The stock may price around 17 to 20 per share. Reports says wells fargo is prepared to give a late fee break to homeowners who missed the deadline on their mortgage payments due to the government shutdown. Scott shellady of trean joins us now. Hes had a chance to dissect whats going on with earnings and amazon and microsoft. Good morning to you. Good morning. They came out last night and what a story for american ingenuity. We had microsoft and the announcement of ballmer leaving, the purchase of nokia. They beat both on top line revenue and earnings per sharefantastic. Then we take a look at amazon. More good news. Theyre competing with the likes of peapod and the door to door grocers, theyre competing with netflix and they beat on both earnings per share and top line revenues. So these are things we like to see. Those two stocks should give a bid to the market this morning. I know one of them 36 higher amazon already on
Here. Well talk about the big miss of big blue and spoke with david faber and investors are watching to see if we shake off that mess. Interesting, had the news of ibm come out midweek last week, big problem. Oh yeah. Dont you think . Markets for the most part, even though the dow hit pretty hard, is kind of taking it in stride at least now trying to work back into positive territory. All about earnings, fundamentals, a miss, one of the biggest price weighted names in the dow, youre right. A more nervous environment is raising the concerns. Today trying to fight back. A change of sentiment we felt over three days. Apple takes focus after the bell. Third quarter earnings with about nine days of iphone 6 sales and obviously closely watched and the reaction in the stock could be significant and well have the first analyst and best anywhere around. Jim breyer, he was in on facebook before anyone really knew what it was and well find out what hes interested in right now. Turned out pretty w
1. 5 and i shares russell 2000 up. Taking the cues from the fed. We are getting ahead of the fed and look at the next moves and next decision to make or not make a move. Members are speaking. Stocks are moving and is the fear fading . Stocks are up, but ebola still lurks and thats why we ask is the fear fading . New york state has designated eight hospitals as ebola centers, the ones that will be the Critical Care places should that disease appear in the empire state. We have the head of one of those today right here on power lunch. Lets go to where all of the action is. That is where we find sue. It is a big day to end the week. A big rally. It has been a wild week. Bob is going to join us in just a second to give us the play by play on this wild week. First to dominic chu on signs of why we may have hit a bottom. Bob is going to tell you about the play by play. If you look at the trading range for the dow it has been a wild wide. The downward trend is still in tact but maybe finding
Susie investors soured on apple tonight the stock tumbled as much as 2 , dipping below 600 in afterhours trading. A rare earnings miss was the reason. The lower than expected numbers came just days after all the hoopla over apples launch of the new ipad mini. Apple earned 8. 67 a share, eight cents below estimates. Revenues came in higher than expected, almost 36 billion. On top of that earnings disappointment, the company gave a less rosy forecast for the future. Suzanne pratt takes a closer look. Reporter wall street called this a throwaway quarter for apple. After all, the iphone 5 was only available for one week during the period, and the newly launched ipad mini has yet to hit stores. Still, apple sold nearly 27 million iphones during june throughseptember quarter, well more than expected. Experts say apples biggest problem was that it couldnt make enough iphones. Iphone 5 is going to continue to be an absolutely huge product. One thing iphone 5 has that the tablets dont is subsid