And one of valleys biggest defenders is out defending. And u. S. Special forces heading to syria. Will this add more uncertainty and volatility to the oil market . Before we tackle that one, lets go down and touch base with sarah eisen. One stock everybodys watching today. Shart of valiant pharmaceutical. Down more than 60 in the last three montes. The Company Fighting defending its Business Practices of the. And also today. One of valiants biggest investor s ackman, olding a cal to hold his stake. With the Specialty Pharmacy philidor. Activities raising questions about the companys Business Practices. This comes after pharmacy benefits manager cbs care mark, express scripts all said last night they are terminating their relationships as well. Citing non compliance with the terms of his agreement. And last week saying it acquired an option to buy the Specialty Pharmacy at the end of 2014. Valeant said 40 of flowed that the channel. And a lot of investors questions valeants decision to not disclose the situation earlier. Questions still remain. And of course many of those questions also discussed today in an hours long presentation that just ended by big valeant investor bill ackman. And now with that stock down 40 over the past couple weeks, one of valeants most high profile investor, aforementioned bill ackman, titan. We must always call him a titan. Onehalf of the billionaire brawl. You have been looking into this. Tell us. Its been bill ackmans special today. Another four hour discussion that just ended a moment ago this time of the investigation of the valeant. Ackman has reason to care. His 21 million share position which is his funds second largest, has lost him an estimated 1. 7 billion on paper so far. And he has every interested in defending the company. Taking stock of the issues facing valeant. Ackman says he has faith it will prevail despite risks and historic underinvestment in Public Relations and lobbying. Near term he said valeant will prioritize replacing its lost 6 of the revenue lost with that piece of it. And finally well continue to run a business that performs really well. Ackman expressed faith in mike pearson, whom he described as exceptionally focused but gruff at times. And. For instance, he was aware of the specialty Pharma Business when it invested in valiant originally. Wasnt aware of valeants 100 million option to buy philidor until just last week when the revs of of us learned about it. You said he lost on paper 1. 7 billion. Is that from his initial investment or the peak of the stock. That is taking both combined. He gave us the average Purchase Price of his two major investments. The original, you know, 19 million share investment, something of that order. And then bought another 2 million shares last week. He gave us the average price and based on todays price. 1. 7. If i said million i meant billion. I get them confused sometimes. And thats obvious going to change. And thats on paper. He hasnt sold thats on paper. If its friday it must be rig counts. And that is what we have the baker hughes weekly north american rig counts is out. The u. S. Rig count for oil rigorous, oil rigs, down 16 to 578. It is also at that level down 1,004 rigoros from the same tim last year. This represents the ninth straight week of declines for oil rigs. Although we should point out like we often do that Oil Production still remains close to record highs in this country. But we do see more rigs coming offline right now. In this case down 16 oil rigs u. S. To 578. We also see the price of oil almost up a full percent above 46. Also in the news, u. S. Special forces are headed to syria. Will have add new volatility to the price of the market . Jackie dangless has been speaking to traders about that. Lets talk about what were saying here. Were saying there is a limited number of u. S. Troops on the ground in syria in an advisory role. And by all accounts traders are telling me they are really not worried though it is offering a little support to oil prices. Wti up about a percent. Brent a little more but not breaking the 50 mark. They feel the rumors were in the marketplace so they are not seeing anything new here. Its different than the reaction to the russian air strikes because russians involvement was seen as support for iran. And iran obviously in conflict with saudi arabia in terms of its stance in syria. And the Saudi Foreign minister was out this week reiterating that iran must accept the removal of assad as part of any solution in the serine conflict. So no change in the situation there. And approximate bottom line of the pits action here is u. S. Involvement in this capacity is probably more of a stabilizing factor against isis than a disruptive one. But at this moment we have to see where this goes. Back to you. And were going stick with the oil space right now. Exxon and chevron both out with their latest earnings. Exxon slid more than expected. Chevron beat forecasts but then slashed thousands of jobs. Gains for them today but there you see year to date, i guess. No thats a 12 month thing. Having a good october. Both are up double digits for the month. Morgan brennan breaking it all down for us. So basically i can sum up earnings for these reports like this. You have upstream operation, oil and natural gas production, continuing to hemorrhage money amid low Energy Prices but downstream, this is the refining operations, posting big Profit Growth because the boosting margins. So that what makes exxon and chevron less risky at least relative to other Energy Sector stocks. Looking at chevron specifically we hat a beat on the top and bottom lines. Upstream eked out 59 million profit. That was down from 4. 6 billion dollars a year earlier. A huge drop there. But downstream earnings grew 59 to 2. 2. Chevrons cap x budget will be 25 lower in 2016. That is a steep cut for such a big company but with more spending reductions e expected in 17 and 18 as well. As part of that it will cut as 6 to 7,000 jobs. The dividend which is almost 5 has been a big focus where chef ron is concerned. On the Conference Call, executives saying the, quote, First Priority is to maintain that pay out, insisting there is enough cash flow to cover it through 2017 at which point it is expecting 70 dollar crude oil. And its already sold 11 billion assets since last year. It expects to acquire another 10 billion in proceeds through 2017. So they are up almost 2 on the day on that beat. And what is the word on exexon . Exxon we saw a beat also on the top and bottom line. Here is how its holding up. Production earnings plunged 78ive 79 . A loss in the u. S. Division. Refining and chemical operations doubled to 2 billion. I hasnt announced the steep cuts we saw at chevron but the company is focussed in reigning in costs as well. Quarterly cap x was about the fifth lower than a year earlier. But id did spend more on dividend. The objective is to pay a quote reliable and growing dividend. That is about 3. 5 right now. However the top u. S. Oil company has been prudently tapering buy backs. So purchases are expected to remain for the current quarter. And shares for exxon are up about 1. 5 as well. And tyler, exxon and chevron are both echoing what weve heard from other Oil Companies that have reported earnings this week. And that is the fact that they are getting ready for oil and gnat gas prices to stay lower for longer. A big revenue beat for exxon. About 4 billion. That is not chump change, is it. No and thats the benefit of these integrated Oil Companies. The upstream and the downstream. If ones well, the other maybe not so much and vice versa. Thanks so much. Appreciate it. Keep an eye on the markets. Indices heading higher. Were getting ready to close the books on october and it is shaping up to be a banner month for stocks. The three majors up. Will it continue into the remaining two months of the year. The Million Dollar question. About whether or not i can predict where the markets are going to go. I cannot but i can tell you historically what they have done in certain situations in the past. So take a look at this again. As we talk about these 9 to 10 moves higher just in the month of october, it almost made you forget about all of that volatility and turmoil in august and september. On a year to date base were still negative fractionally on the dow. S p up about 1. 5 . The nasdaq leading the way higher. Large cap tech a big parking t that. What else is moving in the markets here. The dow and s p are on track for best months since october 2011. Four years since moves like this. And the s p just to put in context has only had 12 monthly gains of 8 or more going all the way back to 1987. As for whats moving and driving things, material stocks, Technology Stocks and energy stocks. All of these guys helping to propel those gains. And they are sensitive to the economy. So perhaps a good sign. Maybe the bulls are a little more comfortable with that side of the story. And then of course here will stocks end 2015 positive . Request. Well october has gained 8 or more four times since 1980. In those four occurrences, the market is up three out of those four times. The average gain 4 . So again some different times. And of course tyler that is part of the story for the rest of it. Going to powerlunch. Cnbc. Com for some other stories to look at. Thank you very much. Shares of boeings biggest rival airbus soaring today. Both higher today. That plane maker now gearing up to boost production. Phil lebow with the details. The reason air bus shares are moving higher in part because of raising production but also recording better than expected Third Quarter earnings. The numbers way better than expected. Most were expecting them to earn 50 euro per share. They earned 70. And you can see the increase there. Core operating profit up 12 . And that raised production of raising of Production Guidance is the other reason that the shares are moving higher today. Look where they are when you talk about their bread and butter, a320. That is the narrow body, the counter to the 777. By 2015 they are going to be up to 50 a month. And today airbus announced they are going moving up to 60 a month. So 20 increase in production by 2019 and by the way, some of those will be coming from the companys new plant in mobil alabama. All of this raises the question, where are the backlogs for air bust versus boeing. And they are getting rather tensionive, looking autoeight nine ten years. Airbus now up to more than 6700 planes on backlog. Boeing, 56 in terms of backlogs. And the narrow body is the bulk of the backlog for boeing and air bus. Take a look at shares. A lot of people are i now talking about whether or not were looking at the possibility over the next two years of perhaps a draw down in terms of orders. Because really dont have many new models coming on and such extensive backlogs, will there be more appetite out there for airlines to add even more in terms of orders. That is one of the things people are talking about today when you look at boeing and air bus. Could be an inflection point. Tablet troubles. New data showing shipments plunging. What it means. Plus congress narrowly avoiding a the government shut down this week passing a two year budget. But whats in it . Youre watching cnbcs first in business worldwide. Sure, tv has evolved over the years. Its gotten squarer. Brighter. Bigger. Thinner. Even curvier. But whats next . For all binge watchers. Movie geeks. Sports freaks. X1 from xfinity will change the way you experience tv. Welcome back to power lunch. Iech sarah eisen. Shares of colgate palm olive taking a hit. Revenue came in below forecast. Shales polling for the fifth straight quarter and colgate warning of continuing. Shares of decker outdoor, the Company Behind ughs are soaring, up almost 9 . They makes ughs and other footwear. It beat on the top line. Gave an up beet four year forecast. And weyerhaeuser also up a full . Thank you sarah. The bill in the house has passed. Heads to the white house. But what exactly is in it . Eamon javers is in d. C. For us. What dune. Were waiting on the president to actually sign the bill. The key piece, suspending the debt ceiling until march 2017. That means that president obama will not face another debt ceiling fight in his presidency. It also means the new Speaker Paul Ryan wont have to deal with this headache until hes got a little mile blg in the tank here. Also about 80 billion above the sequester limits. The sequester itself will officially stay in place longterm. And also longterm entitlement reforms as part of the deal. And a couple of ways they are going to pay for this entire thing. Including reduced Crop Insurance subsidies for farmers. Authorized oil sales out of the Strategic Petroleum reserve. And this one is interesting. Making it easier for the irs to audit partnerships including private equity and hedge funds. A lot of different pieces in this bill. And as i say were waiting on the president to sane as expected some time today. Now to syria. Word today that some u. S. Special operations troops will be inserted into syria, if they are not already there, to act in an advisory role. What do we know . And what does it mean . Well what we know is that White House Press secretary josh earnist is briefing reporters right now at the white house. He was asked how many troops specifically will be on the ground in syria as part of this shift in policy . He declined too hans that, citing ongoing military security about what exactly they are going to be doing and where they are going to be and who is going to be there. But earnest at pains today to say this is a shift in strategy. They are emphasizing the things that are working in syria and deemphasizing the things not working. But interestingly we are not going to hear from the president of the United States today according to josh earnest. The white house secretary saying the president has spoken previously on syrian policy and will not speak on this today. A lot of statements that he did not want to and would not put u. S. Boots on the ground in syria. Obviously circumstances on the ground as changed and u. S. Policy as well tyler. Dominick chew now. To require pmcsierra. This just four and a half hours after pmc sierra announced a higher price agreement from sky works. All cash bid. Went from 10. 50 to 11. 50. And investors anticipate a possible bidding war here. Pmc shares touching highest levels since may 2006. So those shares essential a focus today. Lot of activities in the chips. Tablet trouble. New data showing shipments plunging. What is behind it and what does it mean for apple and its rivals . Speaking of which, what a month apple shares have had. Up about 10 , doing a little better than broader s p and dow. Power lunch will be right back. You pay your Car Insurance premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual deductible fund™, you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Welcome back to power lunch. Im sarah iez p. The pain continues in the tablet market. Research firm ibc just reporting new numbers and they look pretty ugly. Josh lipton has the story and the impact. Josh. Well sarah the tablet market has now been in decline a full year according to idc. Q 3 was the fourth straight quarter where tablets suffered a drop. 48. 7 million shipped worldwide and that was a decrease of 12. 6 . The top three makers are apple, with 23 . Samsung with 16. 5 and lenovo third at 6. 3. So why are tablets under pressure . Theres been cannibalization with smart phones. We know consumers also dont upgrade tablets as routinely. And as idc points out with markets like north america and western europe well past 100 million tablets per region now, opportunities for growth are getting harder. Still tim cook remains confident in his tablet noting improvements in software and the products potential in the workplace with the soon to be released ipad pro it does not look like a saturated market cook told me. Though the ipad had become a much less critical device for the tech giant, now counting for less than 10 of total sales. Thanks very much. To the bond market and rick sanitiy santelli tracking the action. Lets look at the charts as we close out the last business of the month. Two year, wow a big pattern. Whats fascinating is last friday we settled at 64. Up nine. A good chunk of that, of course ebbs and flows based on whether there is a fed meeting or not which really encapsulated the difference between this week and last week. Tens are up about ten basis point, 11 to be exact at 2004. Dollar index was at 9305. 96. 80. Big move. The s p 500. 1920 to 2092. So you can clearly see weve had a lot of action. And all the patterns pretty much look the same. Some logic to the markets. Rick, thanks very much. Were going to pick up right there. Who said october would be scary . It is setting up to be the best month for stocks in four years. The major averages up 9 . But the question from here, have some of these big gains taken any steam out of the year end rally . Well discuss it next on power lunch. We thought wed be ready. But demand for our cocktail bitters was huge. I could feel our deadlines racing towards us. We didnt need a loan. We needed shortterm funding. Fast. Our amex helped us fill the orders. Just like that. You cant predict it, but you can be ready. Another step on the j