Ever. Pfizer and allergan coming together in a 160 billion plus deal and shares of both companies are moving down. Allergan the single most favored stock owned by hedge funds. Its up 20 this year. What are the other names the smau socalled mart money likes right now . The smart money moniker depends on performance but in any case allergan was number one according to the quarterly roster that Goldman Sachs puts out based on quarterly filings followed in short order by big gainers like facebook and alphabet and amazon up 37 , 47 , and 127 respectively. It was a period in which hedge funds increased their net exposure to the tech sector to nearly 18 and cut their exposure to health care marginally according to goldman basing their findings on a sample of over 800 fundamentally driven stock funds. The troubled valeant pharmaceuticals, one of the most popular from the Second Quarter list, was actually dropped altogether in the Third Quarter and that, interestingly, was before allegations su
Record highs for stocks, jobless claims out. Mario draghi speaking now in frankfurt. Cbs revealing terms of live treeming. Tesla reports record deliveries. Losses mount. Both stocks are in the green before the open. A lot for investors to digest this morning. The ecb keeping its benchmark Interest Rate at record lows. Ecb president draghi says the central bank expects to increase the size of its Balance Sheet toward 2012 levels. Opec cutting its Production Forecast project the it would fall by 2017. In the states, did fall. The Second Lowest level this year. Comes ahead of tomorrows key october jobs number. Between gas prices, jobs market, the market, politics, things are suddenly working in ways they werent a month ago. I had the ceo of Marathon Petroleum on. He is the best keeper of the number. Has 8,000 gas stations. What was so incredible was he said youre just not being bullish enough about what happens in this country when gasoline goes down. Maybe youre not bullish about whats h
Ornween the prince of p and legalizing marijuana, who better to have as a partner than tom keene . You are so twisted. [laughter] i dont know how to type. Im doing typing. I want to type like adam johnson. One of the most beautiful weakens of the summer. The first weather ever. You did typing this weekend . Just a little bit. Gin and tonic typing. You have to get your typing game on. My bowtie is set for radio. M a dayand mende day m a day. Zillow has agreed to buy trulia. They are the two most visited property sites in the u. S. I use them all the time. There was also a deal and discount retailing. Buy family will dollar. The deal has an enterprise value of 9. 2 billion. Carl icahn has a 9 stake in family dollar. Has agreed to settle claims that it manipulated benchmark Interest Rates. To u. S. Pay 370 million and british regulators. Nine Financial Firms have been fined a total of 6 billion. A new airline can sin that the public market. Virgin america filed for an ipo today. It has be
Marijuana. Varney company is about to begin. Stuart im going to start with what i am calling a classic case of politics over policy. The fight over Companies Fleeing abroad to high taxes at home. Jack lew writing in the washington post, the system has become full of inefficiencies and special interest loopholes. That is why it is so important we reform our business tax code to make the u. S. Economy more competitive and accelerate Economic Growth and job creati creation. Now listen to what president obama said on the same subject over the weekend. Corporate profits are as high as ever, a small, but growing group of corporations are fleeing the country to get out of paying taxes. Theyre keeping most of the Business Inside the United States, but busily renouncing their citizenship and declaring they are based someplace else to avoid paying their fair share. Stuart their fair share. What do you think Grover Norquist would say about this . Grover is with us, so we will find out. You heard
Taking a breather as german chancellor Angela Merkel takes a breather of her own. She is in china, gentlemen. What you think of that . . Ny comments moving on. No Economic Data in the u. S. No earnings to date here in the u. S. A couple of items of note, in spain, the running of the bulls kicked off have you done that . No. That is crazy. On a more serious note come and i did not realize this, today marks the nine Year Anniversary on londonsombings transportation. That was a very big deal. Do and after the fourth of july data check. The euro under. Stayedh ukraine, subdued. That, 10. 32ok at means more complacency. Near 111. E lets go to the bloomberg terminal. We will talk about this and this hour. Two year yield from 2011, down we go. There are these breakouts. This is the last peak, somewhere in september. Up we go again, the two year yield. We will talk about that this hour. Can yields break out . We look at the websites and scare the front pages. Adam johnson has our front page. T