In just a moment. The premarket settling into some positions. More news on cable vision today. Japanese export data today, monday markets will be key. It starts to come in better than expected and the claims were down as well. In our road map today, u. S. Based cable vision in a deal. And more from the conference and a interview with the verizon ceo. And what ciscos chuck robins told jim last night. The day is finally here after fed policy makers wrap up their twoday meeting, well find out whether or not they hike rates for the first time in nine years. The special coverage at 1 00 p. M. Eastern time, a press conference at 2 30. The reuters pole, 35 a hold and 35 expect a hike. I wish it was a little more consensus. That means a lot of people will be wrong. I surge people trying to figure out this market, there is no hurry, you can make a determination if you want to. When you see that kind of split, you know some big bets will turn out to be not so hot. For a fed, jim, that prided itself on transparency and more communication in the past six years, what does it tell you that were going into this meeting and announcement with expectations to mutt muddled . I think the bernanke fed we would have known for a long time what would happen. The yellin fed is just a bunch of people, and maybe she reaches some sort of conclusion. I think a black box fed, as we have been talking about, is really bad for Corporate America and for financial stocks and that is what is so worrisome. I dont like that i have to care and know what will happen. When we talk to a lot of people out there, man and woman on the street, theyre concerned. I have not seen anything like this in ages. Were going to hear what benny told you last night in that amazing mad money. J. P. Morgan is taking note of the tone out of the conferences, youre not hearing management saying truly awful things about q 3 whether or not it is chip companies, luxury makers, Companies Like ge said steady things about guidance. Is the quarter coming in better than we thought given the volatility . I take my queue from wells fargo. I dont think you can disagree with what fedex says. I didnt really care for the housing start number this morning. I think the economy is kind of in a bit of a plateau, were going to hear from dafd david that things are plateauing. When numbers are cut, stocks go down . Yes, we do. Jim, lets get to one of the deals this morning. M a has been crazy in the last couple days. We dont have a deal in beer, but we have it in cable. For a long time the family that has been the owner of cablevision has never actually pulled the trigger until now selling out to altice, a French Company rapidly expanding in our country and other parts of the world. Buy buy buy all the while it says it can increase margins of the properties by doing it the so called altice way. It is an all cash transaction. Interesting when you look at it from a tax perspective. Im sure they have many tax lawyer thats can advise them. There was an expectation perhaps, but it is a big deal. And there is no doubt that it is a rich multiple at almost ten times 2016 estimated from a company that is largely fully penetrated in its area and is competing every day with the likes of verizons fios. So there is no shortage of competition. But carl and jim, none the less, a somewhat stunning deal only because it finally got done. Those following it for years, it could have been Time Warner Cable in 92. So many different things, it will be very interesting to see what altice choses to do having paid that enormous multiple suddenly. Well see what theyre capable of doing in the u. S. And whether they can follow that same play book here that they have to success in france that is a very different market. A lot of people in long island starting to learn french today. A lot of talk about the quadruple play. It will be the fourth larger cable operator in the u. S. , and i think the biggest acquisition by a foreign buyer in history. And there is not expected today be a Big National Security review or any real problem on that front, but for altice, what would be their strategy, it was not going to be this one property in the midwest. We had an expectation they would try to make a move on cable vision. James dolan basically put his company up for sale, but seeing it in print is very different than speculating about the fate of cable vision. Now we will see what he is capable. A great back story there. A very aggressive gentleman. He is presenting at goldmans media conference. But he beats he goes to the beat of his own drummer and apparently he doesnt want to talk to the u. S. , at least not yet, and explain what he is going to do. Jim, people are asking today where consolidation happens faster, beer or cable . One of the things that shocks me is that anyone that thinks they can come in and just make much more money per customer, and i think unlike beer where it is really just a case of cutting out a lot of competition if we all merge, david you have to help me here. When you pay that multiple arent you saying that cablevision is poorly run and were going to fix it with t mobile . As i have reported, we had conversations here when they did the suddenlink advantage. They borrow enormously, following a playbook perhaps that he saw from john malone. They have to come in and increase margins to make it seem like it is a deal worth doing. Im not sure what synergys i will be curious to see, i think many people will, to improve service at a lower cost for them and therefore increasing margins. They are dealing with what is the highest average revenue per person in the industry, but there are no questions about if this is a company that can be built on cheap debt or if it is about the way they operate. I will be watching closely. One thing is certain, as opposed to what bob, the ceo of disney, the below back from the last quarter, they must believe that you know what, not only are people not cutting the cord, but question grow a business that people think is in secular decline. I dont get this deal. The businevideo business is secular decline. Its just a matter of sf it this or this. But broadband is the key product and the key part of what theyre going to be providing and that is the strategy that available vision has been providing for a number of years now. It will be interesting to watch. They still control amc that may be in the talks with starz, and also about mad son square garden. People have given him a hard time about the knicks, but they have given us some value. I think he just wants a grammy, and then a stanley cup. The mets came back, why are you writing off the knicks . Im already worried, okay . Were up 9. 5, now 7. 5, im getting concerned, jim. That is a great segway, jim, but the dream force conference continues after a day of heavy hitters. Last night on mad money, i told jim he is optimistic. If you want to connect with customers in a new way you come to salesforce. We have climbed through hundreds of thousands of Software Companies from 16 years ago to become what will be fourth largest in the world and were still growing at an incredible rate. Like you say, jim, beware of missing a dip that will look like nothing for a few years ago. When we first had oracle on, it was at 5. He saw that people are beginning to hire sales people again. Maybe the fed does have to tighten. Theyre hiring sales people like mad worldwide. But i thought what was most interesting about what mark was talking about is he is not talking cloud. He is not. He is talking software. He got away from what i regard as this limitation of the cloud. She going social, mobile, artificial intelligence, and big data. And he is distinguishing himself from oracle. Larry ellison and everyone that can get in the way of building a good company. He is challenging all of these companies except perhaps for microsoft. Oracle will open up lower as you know, jim. But the revenue, it was not at the upper end of the guidance. And then are there are concerns about license revenue. Do you feel the same about oracle . That longer term all of these things will come together . I dont get oracle. I was on that conference call. Theyre so excited about possibly negative revenues. Its like next year, i have to tell you, we could be in the playoffs. I Want Companies in the playoffs now. A lot of baseball metaphors. 1964, phillys were six games up with nine games to play and my father never got to that world series with me and its not because we didnt try, they didnt. That is a tough lesson. As we said a few minutes ago, well have lowe will, coming up. Its intelligent enough to warn of danger from virtually anywhere. Its been smashed, dropped and driven. Its perceptive enough to detect other vehicles on the road. Its been shaken, rattled and pummeled. Its innovative enough to brake by itself, park itself and help you steer. Its been in the rain. The cold. And dragged through the mud. Introducing the allnew mercedesbenz gle. Its where brains meet brawn. Welcome back, i spoke earlier this morning with lowell mcamend mcadam. About 15 or 20 minutes ago they told the audience at the con friend they expect their 2016 numbers to be plateaued with 2015. Perhaps not that large of a surprise. Many of them have estimates that have 2015 at or below 2016. A lot of this has to do with the changing way that customers are buying their phones. Here is mr. Mcadam on that change. In the past we would get 200 for a phone and that was it. We would make it up for the Service Pricing. Now you get the full price of the phone over a 24 month period and Service Pricing is coming down. If you look at overall revenue, its relatively flat. The customer still brings roughly the same value to the bottom line of the company. It does change the way your earnings look. Equipment incentive plans are now the way things are going in the wireless world. At t repriced much of its base, but verizon is not nearly as far along. Its not clear this will have a big impact. There was a couple other reasons mr. Mcadams sicited as well including the recent acquisition of a. O. L. Maybe we dont have it. Im hearing either way either. This is interesting. Were going into the Digital Space with a. O. L. And with our overthe top video play, instead of lynn yard tv. And so as you readjust the model, there will be earnings and comp comparables. We talked about a lot of other initiatives happening at verizon, the new streaming offering of course, which got a lot of play in the last couple weeks for mobile at this point. Not to mention the skinny bundys they offer fios customers and amazing take rates for those bundles at this point. Well have a lot more of that interview with mr. Mcadam later in the program. Still close to five, not quite as high as it was at the depth of the august lows. Of course, if the fed starts raising rates, those stocks may come under pressure. It doesnt appear to have a significant exact on the stock today. Jim, your thoughts on what david got isnt the. First of all, that is an incredible insight. What happens is that i immediately waech the conclusion. Im not going to see a really big increase in that dive dent that i need given the fact that the fed could increase rates. You can get it for 50. It is very compelling us specially if youre thinking of cutting the cord. More importantly, why would i want to own it other than the dividend . If i can get no growth from a company, why do i want to own shares in that company . That is certainly a valid question, jim. I think the dividend is significant. At this point you probably have time to buy this thing and see how the initiatives work out. Theyre doing a lot of things at verizon. So many of the thing s in video. It will also be interesting if they are in the market with cable vision. They have overbuilt. Mr. Mcadam for his part thinks it presents an opportunity. You do typically get disruption. Theyre setting the bar fairly low for 16, but they are still 110 million wireless subscribers in this country, thats a big number. Very, very big, but i need to see bigger. It has to be bigger to keep people in that stock. While we have been talking, you may have seen the reports that gm is on the cusp of the switch probe. This is separate from the settlement of the criminal investigation with the department of justice that we will learn more about at noon when a press conference is held in new york. Separate from that, General Motors announced they entered into an agreement to settle certain civil cases. We will not get into too many details. It gets into cases where people sued General Motors. They were not part of the compensation fund. What matters is that they are announcing they will take a 575 million charge in the future. And that is separate from the settlement with the d. O. J. That will be announced later today, and we expect that part of the settlement to be about 900 million. Well get cramers mad dash as we count down to the opening pell. I take prilosec otc each morning for my frequent heartburn. Because it gives me. Zero heartburn prilosec otc. The number 1 doctorrecommended frequent heartburn medicine for 9 straight years. One pill each morning. 24 hours. Zero heartburn. Hey hi our cloud its a platform based on awesomeization really . Can it keep our data where it needs to be no matter what country were in . Integrate with our systems to help keep transactions secure . Combine Customer Data with likes, tweets, the weather, to predict trends . That would be awesome. Tote . Now theres a cloud that understands business. Now theres the ibm cloud. Just about five minutes before the bell, lets get cramers mad dash. Youre thinking of the season and youre looking at hasbro. This is amazing, here is the kind of research that i do love. 46 move, we know star wars toys are coming. But maybe its anytime to go neutral. Mattel has a big yield. I dont know if it is safe or not, but maybe it is time to go out of hasbro into mattel. They made you a fortune and they dont want to give it back. Does that mean youre more skeptical on disney, for instance, going into Something Like that . I do believe when i listen to the cable vision, i think about broad band, i do say that disney is a stock you want to buy, not sell. If we get a fed rate hike, there will be people saying when is the next fed rate hike. Im busy trying to help people make money in companies. Were going to get to that later on in the show. Well see you at the opening bell. At ally bank no branches equals great rates. Its a fact. Kind of like mute buttons equal danger. That sound good . Not being on this phone call sounds good. Its not muted. Was that you jason . It was geoffrey it was jason. It couldve been brenda. Lease the 2015 rc 350 for 429 a month for 36 months. See your lexus dealer. You are watching squawk on the street. The opening bell set to ring in about 30 seconds. Finally after all of the debail and worrying about what the fed will do, we will finally get an answer today of some kind of course the trick just digesting the decision. The intercontinental Board Exchange of directors. And a biotech company. There are a few movers here as we mark time ahead of the front. Riteaid, two cents, miss the four cent estimate. They trim some guidance. They did make an acquisition this quarter . Am i thrilled . Not when you have cvs, and walgreens as competitors, but i like the new pharmacy stock. People are going from bad to pretty good, but i understand. When you see samestore sales, people just sell. I think you to think longer term. Cablevision our biggest gainer. A muted but positive effect. It is one of the alltime highs almost ten times the 2016 estimates earnings. You charter up a bit. Comcast also up a bit, but cablevision the biggest beneficiary. 88yearold chuck dolan is finally a seller after all of these years and getting nobody would argue, carl, i think a very good price. Yes, good times at the dolan house. Stanley black and decker is up, and rbc, a price target 132. They say theyre most exposed to all of the foreign buyers and the things you talk about all of the time. Im so glad you mentioned Stanley Works black and decker was on cnbc reminding us theyre doing much more business over e overseas and europe is coming up. Talking about raytheon. If you need to know what to buy, think about defense, think about worldwide, think about what is going on. Remember that they are the answer if you think youre going to have incoming misses. A lot of countries think that will happen. That comes on the heels of the four billion dollar buy back. I love that group, karl. I know you do, jim. And you have for awhile. Unfortunately i like them. Verizon, didnt look like it would be down much in the premarket, but right now, at least, there is it is down over 2. 5 . Verizon shares down 2. 6 . They say 16 earning wills be a plateau with 15. Lowell mcadam said it has to do with the way people buy their phones. There are also other issues. And i did ask a lot of other questions about pricing as you might imagine. He really pushed back and said were seeing some pressure from the likes of t mobile and more competition there, but we will still get a 15 to 20 premium because we have the best network. That is what they have relied on for years is the quality of their network. Again, a lot more from that interview forth coming. The ledger sheet should come in three, two, one i asked him about that. I keep going there myself. Someone wake him up, i dont know how he does that. John, this is your day. Not just fed day, its tmobile day, where are you . And if i want yield, ill go to at t. Maybe the yield is better with directv. Jim, were going into a political season, the xm banks getting talked about seemingly more often. Today g. E. Aviation will create their own turbo prop design center. They say well have to start moving the pieces as we see fit. I thought this was a shot across the bow, and i think that europe wants more political. Ge has to be somewhat political. The key to this market, ge is doing everything right. This is the stock to put on your screen if you want to see fed reaction. It has not mattered at all when it comes to the stock price, jim, as you and i pointed out many times. Down over a percent tool. A rally recently from lets call it 24. 5. But i dont know, jim, at what point do people say this stock is never going up . All i can tell you is if you do everything right and your stock doesnt go up, you say you know what . Well buy in at 25 . Well do something that says we trust it. You may not, but we trust it. Not unlike what cisco has done. They bought so much stock. That is a buy back that has worked. Although some havent. I always come back, when i think about buy backs, i come back to viacom. That stock is down this morning. All of the rest of the media is middling. But talk about buying back stock at higher prices, jim, and maybe questioning whether the money would have within better spent else