Nest nestle im morgan brennan. That news on boeing is shaving about 100 points off the dow concerns about the china coronavirus are frustrating emerging markets Software Stocks did help the nasdaq hit an intraday all time high earlier joining us for the hour is steve weiss. Great to have you. We certainly have seen major averages take a leg lower between this first confirmed case of the coronavirus here in the u. S. And then this news from boeing pushing out its forecast for return to service to the summer you still invested in boeing so i said on the halftime report, i think thursday, i told just about a tag into my position that morning then the news hit later in the day. Now we get a statement i was looking at it this morning. You hate to be reminded youre losing money i figure if the stock, when the max goes back stock maybe misses on the first 10 but i wont have to deal with that and losing capital heres the statement from the company. Ill read the first few words. As we have emph
Bid 140 a share or over 5 billion scluting debt. The apollos offer was accepted. The later offer accepted by tech data as the better offer and buffett says he does not intend to make a higher offer a little bit about tech data, it is a global distributor of Technology Products and services it supplies Small Companies with Technology Software and hardware made by larger companies, larger technology companies, a middle man. This is evidence of what has been happening with Berkshire Hathaway as the cash ward has grown. Topped over 128 billion according to most recent s. E. C. Filings from the company this move is interesting pivot for buffett, he rarely goes up against private Equity Companies and doesnt like to get into bidding wars it shows how hes going further afield to try andlook to deplo his large stash of cash that he has on hand. Hes known as being a cheap guy. Somebody who looks at prices he doesnt like auctions. Doesnt like auctions, doesnt like to get into the fray what is int
Good monday morning. Welcome to squawk alley. I am carly fiori i am Carl Quintanilla with Morgan Brennan and jon fortt a big week in Northern California more from jon in a moment. What a day tons of record highs for stocks and indexes overall. The dow hits an all time trading high, First Time Since july. We turn to mike santoli with whats happening. The big picture in terms of overall market is removal of points trade deescalation, low yields it is happening at the same time where some more emerging Consumer Tech companies have been punished brutally last month and last week, wayfair, grub hub, etsy, pinterest, beyond meat, yelp struggled. Whats going on here is i think some of the real emerging Business Models are having a reckoning, relationship with the consumer through an app is not enough and essentially after uber and wework debacle, people wonder if the leading edge of Consumer Tech is worth owning the question now is what it means for the overall market in a sense, it ratifies
Minute look at quick u. S. Equity futures at this hour show you how things look to be opening up in about 3 1 2 hours from now dow would be off about 20 points nasdaq looking to open up 15 points s p 500 looking to open off a little off well call it 3 1 2 points right now and also show you whats happening overnight in asia right now as we speak. Youre looking at red arrows across the board but well call it marginal except for the hang sang take a quick look at european equities as well as we flip that board around youre looking at mostly red picture, except the ftse 100 looking up 1 right now and finally treasury yields, tenyear notes unless youre looking for a 30year fixed right now the tenyear note is at 2. 060 joe . Big deal of the morning. Big. Big. Mylan, potential pharma deal to tell you about. Unit of pfizer with mylan. Thats right. Were expecting this news to be announced sometime this morning. What were hearing is that pfizer plans to spin off a unit called up john, off patent
Grasso is back welcome, steve. Thanks for having me. Technology making a move higher thanks in part to the semis. First you have that semi upgrade from Goldman Sachs thats put a flame underneath the whole space. Theyre leading and also have the f. A. N. G. Stocks reporting. Thats what is driving the market action. Does it tell you something about the cyclical leaning. It tells you it gives you the impetus of, hey, what got us there . What is going to be the mainstay people like to keep riding the horse thats delivered the returns and that horse has been tech. Horses are scary. Lets drill down on the big stories were watching a meeting with chip executives will take place. Phil lebeau, a credit warning or boeing and bob pisani are looking at the other moves and seema mody looking at the impact on oil and iran. Ylan, lets start with you. Its expected to get under way in a half hour several of the executives are already here my colleague Kayla Tausche and i have confirmed some companies a