70 . We have that exclusive interview. Vonnie lets go to the market desk where julie hyman has the latest. Julie i will start with valium. In plunge that we are seeing shares down 34 . The company cut its forecast. We talked about the future where the company moved remarkably. Then, on the paul, a slide was put up. The company said today that it is going to focus more on the financial reporting, the transparency, and a typo happened. If you look at the bloomberg, you can see trading over the premarket and regular session. It is falling and then sharply falling again when we got the news that there was the revision. Something else we have been mentioning quite frequently. In the Shareholders Company are moving. A lot of these people have been moving a lot of money because of the stock. Thats 30 drop, that is the biggest drop in record. Vonnie we will keep an eye on that. What about stocks, broadly . Steep. They are not as we have declines. The bank of japan is not making any moves on th
Economist john silvia will be joining us to kick things off. First, lets get to the guys in new york. Joe, my heart is breaking. I was traveling yesterday and out last night. I missed all of the masters disaster, been reading about it this morning, checking this stuff out. 11 inches . Missing . Ernie ells. Becky, im telling you yes, not you. Right. I read what he said this morning, and my heart really went out to him. After being so great you know what he said . He said, i got up to that first three footer for bogey. Number one is a really hard hole, and all the greens are really hard. Theyre so fast. The holes are cut so sharp. Theyre very scary. What he said really got to me. He said, i couldnt pull the putter back. I know that feeling so well. Its because hes still got the right hand low. I can tell you that ernie is going to be i dont think hes clawing yet, but i cant say for sure. But hes going to have to do something called the claw. Thats the only way. Also, what i found did you
Half hours time. It looks like investors do not anything germanic ahead of that on a macro basis because the s p and dow slightly lower. The nasdaq slightly higher here today. Gross closer to resuming and surpassing its record high. Take a look at my bloomberg terminal. I the intraday moves going back to six months. The record high was reached back in july, july 20 to be exact. We are 1 below that level. Indo see a rally for stocks december. We could see not only the nasdaq but other averages once again surpassed those records. Today, yahoo ogy is in focus. The wall street journal reporter that the company was considering a sale of its main core internet business, leaving olli alibaba states. Qualcomm is an outperform after coming to an agreement with xiaomi. It is a 3g and 4g patent agreement that will allow for royalty fees. This is important because qualcomm had said last month that it was maybe having issues with negotiating those speeds with its chinese customers. You can see the
Welcome to the pulse. We are just getting breaking news. Euro area december services pmi are unchanged at 54. 2. But when you look at the strength of the economies. France weaker than expected. Germany doing better than expected. The most volatile start to the year since 1999. 1. 0732. Dollar at mark china again devaluing its currency or weakening its currency in an orderly fashion. The currency falling to a fiveyear low. This is the last 8 trading days the currency has fallen against the dollar and all but one of those trading days. Hen fall into a fiveyear low. The signal is from policymakers that they are more tolerant it seems of a weaker currency. Yuan also sent to a fiveyear low in hong kong trading. That is freely traded currency. The gap between the onshore in the offshore rate was the widest on record. What is significant is that asias currencies, ages, chinas neighbors will be watching this closely because chinas yuan currency swings does tend to impact exporters. Many of the
The center of that story for weeks. Bob peck, the analyst with sun trust. Bob, its good to have you back. Thanks for having me. The board is considering a spin or a sale of the core assets or maybe other things. Whats most likely to happen . A couple of these. We think when yahoo did not receive its public ruling from the irs that that would be taxfree, but that was a material adverse change. The board right now is doing what it should do prudently looking at all the other options that maybe more taxrisk averse. With that you have a spin of the core and absolute sale of the core. You have a sale of the asset. You could even do a cash rich tax free spin with alibaba. Theres a bunch of alternative theres, and we think theyll ultimately look to maximize their sharing responsibility. Taking it a step further. Tell me what you think is likely. Probably most likely, most simple and we point in our note today, you could just flat out sell the core, which we think could generate 6 billion to 8