Right now. We are getting ready for yet more earnings, some big numbers after the bell tonight including starbucks, linked in and first solar, just a few of the Big Companies reporting in less than an hour. We will have all of that for you in just a little bit. Donald trump also invoking the name of larry kudlow in last nights debate. Larry kudlow is an example who i have a lot of respect for, loves my tax plan. They said that you have as much chance of cutting taxes that much without increasing the deficit as you would of flying away from that podium by flapping your arms. Then you have to get rid of larry kudlow who sits on your panel who is a great guy who came out the other day and i said i love trumps tax plan. And larry is coming back to the panel, he is going to join us live along with barney frank to give us his reaction. All of that coming up. Lets get to this gopro story, tumbling to this all time low relative to where it was from its oip, seema mody has the market flash for us. Bill, its on pace for its worst day on record, this after gopro reported disappointing q3 earnings and a huge revenue miss, but in a consumer exclusive gopro Ceo Nick Woodman dismissing concerns about growth and be Bill Griffeth in a maturing market. We are still forecasting 23 dwroet for the company for the year at the midpoint. So performance still good, demand forego pro still strong but admittedly we took our foot off the gas from a marketing perspective in the second and Third Quarter. Guidance for the Fourth Quarter was also weak, q4 earnings expected to come in the range of 35 to 45 cents a share, thats nearly half of what was forecasted by analysts. In response several brokerages cutting their price targets on the stock but there are some bulls out there. J p security says this is a Young Company that can move fast the short coming comparing it to the apples disappointing sales for the iphone 5 c. Analysts there maintaining a buy rating and 90 price target. Some analysts saying they will be watching their holiday sales price clothesly to see if the company can regain some of its lost momentum. Has flattened out. Seem marks thanks very much. Lets get to our Closing Bell Exchange for this urs. Joining us at post 9 jim dee nan, we have New York Stock ExchangeTrader Peter Costa and Rick Santelli is back from boulder. Peter, pretty good rally yesterday, we are holding our own today even with the weak Economic Data. Earnings the highlights of stories like gopro. Whats going on . I think this is a spike from yesterdays rally which i thought was overdone to start off w i thought that, you know, after you heard the feds, you know, not doing anything and then the talk is that december is the you know, the next flash point, which i still think its not, you know, people rallied into that is correct now they are not doing anything, they are staying away from the market, the volumes are doing from yesterdays level. You know, its just tired, the market is tired. Sometimes it gets to a point very shortterm oriented market. It has been. What about in credit markets, how are we seeing investment great, high yield, whats happening for the end of the year, and these mega deals will just continue at pace. The deals are going to continue. If you look at the environment where the stocks are, if you look at valuations and look at where people could borrow money, Investment Grade or high yield companies, you will continue to see companies do more and more m a or transactions to grow their business. With regards to the credit markets low growth environment even if the fed does move a little bit here you are still not talking about really squeezing the growth out of the market, youre talking about a slower profit environment, thats still generally a positive for a credit environment and spreads reflective volatility. Are you worried about companies over time, especially we are seeing it with some of the credit levels she was Big Companies will have, are we going to look with the economy growing 2 and thinking why did we think they could support this kind of debt. Since the financial crisis we were on a run and management teams will start to stretch and create earnings. I think when you look back in a couple years there are going to be companies that wont necessarily make it. Not that they wont make it but they might have to restructure either their operations or balance sheets. Those things will happen but there is still a lot of good deals getting done in the market. This is a point in time where there will be a lot of dis pergs. In a low growth environment you will have your winners and losers. Rick, the first blush interpretation of yesterdays fed statement was that it was slightly more hawkish, we had a dollar rally, yields have been moving up on the long end of the curve in anticipation that maybe the fed will, in fact, start raising rates maybe as early as december. Is that how you read it . What do you think the market is trying to tell us right now . I think the market is trying to tell us that the market is more worried about what the fed may or may not do. It didnt really pay that much attention in a logical fashion to todays 1. 5 gdp. You knew, kelly, at the top of the show it wasnt how the market is dealing with first look at Third Quarter gdp or after supply. Its how are the markets responding after faed. I understand the fed is important and that is the problem in my opinion. Its too important. Its way too important in the market considering the grade of the type of job they have done over the last seven years. Dont get lost in the inter day swings. Here is the easy way to look at the market. 217. Exactly where we closed last year in tense. If i had to peg everything should be about unchanged. The economy should be unchanged. We have somewhere between 2. 7 a 5 economy and everything is calibrated to that except for stocks, but stocks are calibrated white well to that. There is a bit of gravy that comes with ultra low rates, not everybody gets to put a couple ladles on their food but it definitely ends up as we see all the deals id rather see companies trying to satisfy consumer demand, trying to create new products but that takes some work, its easier to do all the things theyre doing and the less companies there are that is significant. I think Carly Fiorina had something to say about when you have less and less companies and i happen to agree with that interpretation. Lets go to that for a moment, rick. I was wondering what your interpretation is of all the huge deals that we are seeing when we are talking about 100 billion plus energiers and acquisitions that are going on here just from a cycle point of view. What does that tell you about the landscape and the question . I think it tells you that theres partnering up because they are trying to make some magic, but i think its a horrible way in my opinion, its not the productive aggressive way id like to see economic magic. Id like to see more companies opening up and competing with each other because i think ultimately when theres fewer it looks good, maybe the stock prices reflect t but ultimately it ends up at a place, you know when is the last time or when are the last several times you have seen this type of activity . Usually it correlates are w. Things that happened in the marketplace that we dont really hope for. I was going to say a, peter, you are nodding your head, are these mergers strategic or defense . Theres a couple of things. I think if a company has, you know, several billion dollars of cash on hand, you know, they did this buy back thing for three years, that helped the market go up. Worst spending of money in history because if youre going to spend 3 billion buying back your own shares the price of your stock goes up, your shareholders are happy but its not helping your business. Now they are merging, its a defensive you play. They dont want to use that money to be creative and build a new environment, make their products better, expand their markets. They want to do it by, you know, merging or taking over other companies. I think if that money is going to be spent it should be spent building and employing people and building new businesses. I think youre going to look at at it broken down by sector. You look at companies or sectors where they have a good view on the trends of growth, the demand increases in the future. You are seeing a lot of investment in those because most of those management teams and the shareholders are going to say their stock the potential growth of their stock is better to reinvest in their products. In other businesses they dont have that. In the general economy you are growing at a 2, 2 plus percent range. So you see these mega deals as a way to create cost synergies, they dont have the expectations of a Significant Growth trend. Where theyre creating shareholder value is through these deals. We have had tens of billions of dollars out of Corporate America back into the hands of shareholders to do whatever theyre doing with it in recent years, jim. Obviously we have been in an environment that has not produced a significant amount of corporate investment, but it certainly has helped the households continue to dee leverage since the financial crisis. Thats a good thing. Good to see you all. Thank you. We have a news alert on facebook. For those of you on facebook, a new innovation. Julia boorstin to tell us about it. Bill, facebook a announcing a video ad format showed slide show. They will be made from still images to make it easier and Cost Effective for marketers to create ads and make them for engaging than photo ads. They are designed to take up less data. They work quickly on any device. This is the latest in facebooks push to make video ads more accessible to small basis. Kelly, back over to you. Julia, thank you. Bill, i cant wait to see what you do with it. I cant wait to see what i do it, too, once i understand it. The puppy, you have the dog, the central feature. 50 minutes to go, the dow is down 41 points at this moment, the s p giving up about 3, the vix still a little higher, the nasdaq down nearly half a percent today. Pfizer and allergan in talks. Why fiezer is pursuing this deal . We will get reaction from aetna ceo mark bertolini, pushing through their 37 billion acquisition of humana. A lot to talk with mark about. Also ahead wells fargos chief Financial Officer will be here to talk about the surprising drop in home sales last month and we will find out if he think its a temporary speed bump or Something Else going on. Still to come on closing bell. vo what does the world run on . It runs on optimism. Its what sparks ideas. Moves the world forward. Invest with those who see the world as unstoppable. Who have the curiosity to look beyond the expected and the conviction to be in it for the long term. Oppenheimerfunds believes thats the right way to invest. In this big, bold, beautiful world. When you do business everywhere, the challenges of keeping everyone working together can quickly become the only thing you think about. Thats where at t can help. At t has the tools and the network you need, to make working as one easier than ever. Virtually anywhere. Leaving you free to focus on what matters most. 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From pfizers point of view they have been open about wanting Big International merger, they tried to do an inversion deal outside the states and the standard line is they want to reduce their tax burden in general Going Forward, which is true, pfizers tax rate has been stuck around 25 for years, but there is another element to this which is pfizer needs to unlock access to its overseas health cash. They have 13 billion annually, about half of that is dividends. Its not as if they need the cash, but cash flow has been stagnant and a big merger that allows them to get at that cash and all the cash flows internationally from here on out is very attack track testify. Two days ago on the Earnings Conference Call management was very open thereabout this, about the kinds of deals they would look for, what it gives them in terms of being able to Access Global cash. Where a allergan domiciled now . It would be an irish based company. Most of its business is in the u. S. But theres been so many moving parts with allergan, they have hold up a bunch of companies, so obviously many, many moving parts. A lot of people think ultimately pfizer goes with another target. They have a tax strategy but does it make sense strategically, by the way . I do think it makes sense. A lot of the analysts are saying these are great products that allergan has, its a good asset, knots the cheap, there might be other options that look for attractive. There is a line of thought that thinks pfizer keeps running at this thing because they want tax rates to change. Could this deal fall apart because congress realizes whats happening . It looks like there is going to be political pressure. They are in a tough spot. Mike, thank you. See you next hour. Sticking with the healthcare space, Insurance Company aetna out with its earnings today. Joining us to break down the numbers is aetna chairman and ceo mark better leany in a cnbc exclusive. Welcome back. Hi, kelly. Hi, bill. Im going to begin on the issue we were talk being with mike it was the topic in the gop debate last night. One of the major topics in this country today, its the price of drugs. Is the high price of drugs justified because of what theyre doing to solve different ailments in this country or is it a moral outrage . I have to say it depends on the drug and i would argue that its really not about the price of the drug, its about what that drug does. The hep c drugs, for example, expensive but solving a very big problem across the wide swathth economy. People my age and around my age category that were running around with hep c. So i think it really has to depend drug by drug. Within we saw the hep c drugs come out we paid for them, we thought that was a good value for our members. Let me ask you about the quarter. It looked good, the stock is responding positively. Any head winds and i think specifically weve talked about this before, you announced the Salary Adjustment at the low end, other companies have done that and theyve been coming out anecdotally and saying, boy, this has hit our bottom line. You dont seem to be doing that. Why not . Its 27 million out of a 10. 6 billion operating budget. Its rounding error. Could you have done more . We will continue to do more. But when we when we closed the humana acquisition we will actually add 10,000 for people that will be have their wages raised as a result of our program. Mark, on another issue that you brought up on the call, another contentious one here politically, too, but you were saying its way too early to call it quits on the Affordable Care act. Obviously a lot of insurers are struggling with how much theyre paying out versus how much theyre taking in in premiums. Whats different about your participation in obamacare and do you think you can make it work . Well, in the end analysis healthcare insurance premiums follow underlying healthcare costs. So we were very careful to find marketplaces where we had a cost structure that actually supported a product that was affordable for consumers in that market. To the degree we could not we would pull out the markets like we did in two markets for this year. That makes t by the way, an issue thats going to leave a lot of people potentially without access to plans in certain parts of the country Going Forward. How do you think were going to address that . Do you have a preference as to how we do that by sort of using mandates to push more people into the pool, waiting for an approach that might come out of the election in 2016 that changes the structure of this altogether, mark . Evening the underlying cost of healthcare are important so we need to move away from fee for Service Reimbursement to value based design, getting value fort money were spending. Cms is focused on that, they want to get more than 80 of the population on a value based reimbursement by 2020. I think thats a great notion and a great idea. The problem were having right now with the Affordable Care act is its a political weapon and until we can start tweaking the Program Every year and making it better, were not going to make it better. If you look at Prescription Drug program which is doing very well for seniors, you look at Medicare Advantage and medicare, those programs get touched up every year. Right. Policies change, et cetera. We have not done that with the Affordable Care act because its a political third rail. The budget bill making its way through congress, they passed it in the house yesterday, vastly reduces the premium increase that was expected in Medicare Part b for 2016. Whats that going to do to your business and do you think we are going to see a period now where we are going to see regulators try to reign in more costs here . . Well, i think we have to reign in more costs and the programs we offer in Medicare Advantage are zero premium plans, the kind of programs that humana offers, and those programs with r. Very attractive to seniors because they dont have to pull anythin