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tv   Fast Money  CNBC  September 30, 2014 5:00pm-6:01pm EDT

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lot on the table as we start the fourth quarter. >> yeah. pretty good quarter. not such a great quarter i should say for stocks. pretty good year thus far but we'll see what happens between now and the end of theier. we'll see you tomorrow. "fast money" up at the nasdaq starts right now. live from the nasdaq market site in new york city's time scare, this is "fast money." our traders are steve grasso, brian kelly, karen finerman and guy adami. the breaking news on ebola. the first days in the united states. meg has the latest back at headquarters. >> this news just coming. the cdc confirming the first ebola case in the united states. we're still getting details about it. there's expected to be a press conference at 5:30. we'll bring you more details. we also have news, cnbc has been confirmed with the texas governor's office that the governor of texas is aware of the first ebola case there in texas. so that is currently what we know. the first ebola case arriving
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here in the united states. we'll bring you more details as we learn them from this 5:30 press conference. again, this has mostly been in west africa. >> meg, talk to us about the companies that are poised to deliver treatments or vaccines. we are seeing shares of techmir move. >> these companies are working on ex tperimental drugs. they're very early in testing. they are starting to ramp up testing in humans for these drugs. the hope is they can ramp them up fast enough to be used. they're participating in a c consortium of clinical trials. the question is how quickly can they ramp up supply, can these drugs be becaused. there's also vaccine development going on. a lot of these companies at work. the question is can they develop the drugs fast enough to be helpful in the outbreak and that's what we know.
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>> and, meg, it's interesting because we have the ceo of serepta on "fast money" recently and he actually said that when called, he is prepared, the company is prepared to deliver clinical trial quality drugs that he has on hand. is there any sense, meg, as to who might be able to contribute if needed vac kecines at this point? >> i think right now they're trying to ramp up supply of these things. with vaccines you have to make sure they're safe because you're talking about potentially deploying them before patients have been infected. so with vaccines, it might be a little bit of a longer time line for them. for the drugs, this is like when patients have been infected, they really don't have a whole lot of other options necessarily. so with drugs you might try it in a situation you might not try a vac kecinevaccine. these companies need funding to ramp up supply. sarepta's program wag stopped
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earlier because they didn't have funding. it's a question of who has the resources, can they actually manufacture these things in large quantities fast enough. >> all right. thanks so much, meg. you see those stocks in the after hours session moving very sharply. keep in mind that for some of them, you know, they're smaller companies so they will be whipped around. we have seen rises in these companies pretty much across the board as we're hearing more about the ebola cases and now, of course, here the first confirmed case in the united states. we are seeing them pop. guy adami. >> te kmir is an interesting stock. in terms of the stock, i'm not even sure that's important as ridiculous as that might sound. sentiment will take the stock higher. i think it trades up to that $30 level we saw in march because the headlines probably -- i'm not trying to be an alarmist but the headline is probably not going to get better before they get worse. you have to assume that this stock just sentiment and momentum will take the stock to $30. >> we should be careful, too, as i mentioned we have the ceo on and i asked him pointblank is
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this a reason to invest in the stock? actually his company is -- the bigger bet is a treatment for a muscular disease. so you have really understand what you're buying here. >> absolutely. and in the past we had talked about these stocks and we said these are kind of binary events and in some cases here whether it's going to work or it's not. i think now that it is on the u.s. shores, i'm with guy. i think the sentiment alone, the sentiment alone, not talking about whether or not it works or not, is going to be something that keeps these stocks higher. the other place i would look just in general is looking at the cocoa market. up 10% to 15%. 50% of the world's cocoa comes from west africa. you have seen a big jump. now that it's on our shores you will see a little bit more notice coming in there. >> i think there's a bigger issue. obviously ebola is scary and to have the first case confirmed here in the united states on our soil is scary. so is that scary going to translate into the markets, grasso, as we sit in the final quarter? >> i think the market is due for a sell-off. i think we have it test that
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100-day which we're nibbling at on the way down. i think we also have to test the 200-day. i think we have done enough of this back and forth. it's been seven times since last june that we tested 50 and 100. i think the 200 needs to be tested but i think october is probably a good day to sit on the sidelines. i think you'll see a test of a lot of things to the lower levels. >> so i try to think about who would be affected, which companies besides something very obvious like tekmira, you have to think about the airlines. that's one that sort of jumps to mind. then i have another sort of tangential thought which is something like a polycom which does video conferencing. if you're a big corporation, if people are afraid to fly, if your staff is afraid to fly, maybe you just put more resources toward video conferencing. it's a leap. i understand that, but just trying to think through what -- >> i like the video conferencing better than i like the airline play because if we continue to see this drop in crude, you could see that counter balance because that's a bigger issue. that's a bigger tailwind so to speak versus the headwind that you're getting from something
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like ebola. >> that's funny, guy. >> seriously, i think that would be -- that would compensate for it if crude continues to drop the way it has. >> we will be taking that live news conference 5:30 p.m. eastern time as soon as it begins on all the latest regarding the first u.s. ebola case and we should note as well we just got word on this, sarepta's ceo will be joining us with his ceo. one of those names moving in the afterhours. oil falling more than 3 thrs down 13% for the quarter. the worst performance in 2012. is this oil move a warning sign for investors? a lot of people were saying it was simply the dollar but this drop today was a dramatic drop. >> a big drop. right when the oil market opened. it was as if a large seller came in and really just started hitting bids indiscriminately. there's all kinds of -- when you get a move like this, everybody says, oh, hedge fund blowing up or something like that. we won't know for several days but i think you to ask yourself
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as a u.s. investor, we've been saying u.s. is the best place to invest, cleanest dirty shirt, but with crude falling like this, why isn't the russell hitting new highs? it should be. that is your domestic play. that's your u.s. economy play. you've got lower crude prices, everybody is refuse b joycing about lower gas prices. the russell should be higher. i think there's more to the signal in this crude move than just lower crude prices. >> you mentioned the russell. look at that chart at around 3:30 or so. that's when the russell really started falling out of bed. the move in silver also mirrored the move in oil. the other commodities did not. so i thought that was peculiar as well. >> i think this is truly a demand issue. if you think that we're going to back up in the marketplace and we're going to check a lot of lower levels, then you have to look at this movement in crude. all these geopolitical tensions in the middle east couldn't do anything. we had the perfect storm, it was almost like gold, right? we had the perfect storm to rally crude. it couldn't rally. lower prices are probably ahead. we're probably going much lower in crude, at least to the $85 level. >> see, i think -- i'm sort of
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in your camp. a lot of people think it's a supply thing. i'm in the demand side because i think it's been global deflation all along. our fed has been trying to fight it as many other central banks have which is why i still think rates go lower which is why i think commodities are getting whacked which is why the russell is on its way to 108 and it got close today. at some point the s&p will follow. they bounced off the 1970 level. they went to 1985 in an hour. obviously pulled back. but we're at critical support in my opinion now in both the russell and the s&p. >> what would you do with gold from here? >> that's a crazy thing. see, gold at some point should catch a bid but you could have said that for the last $300. if you're impervious to the larger moves and you think the real crazy move is going to happen, a lot of people think we've had miners on that said $5,000 an ounce. if you can stomach the downdrafts, i think you have to have some of it in your portfolio. >> i'm long gold and i have been long and wrong. if you look at the environment right now, you have the dollar
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which is up 8% since july, 13% for the year, yet gold is flat. you would think goaltender is falling. there's something going on in the market. when you look at why the dollar is rallying, it doesn't hold up anymore. so i've stepped away -- i'm long both, metal and the miners. in terms of the dollar i think it's probably a little bit overdone here. i still have small long dollar positions but i think coming into this fri, the nonfarm payrolls, gold is not a bad place to be. >> give us a trade update as we're entering the new update. long spy, short russrussell? >> yes. it's the only bright spot i've had. >> let's move on to ebay clocking in its best performance on more than two years on news the company will split off its pay pal unit. cnbc's david faber spoke exclusively with ebay president and ceo john done know hoe.
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>> it was last evening i had an opportunity to talk to john and we shared parts of that interview about pay pal, about what seems to be a significant reversal of course for a company and a ceo who has talked quite a bit over much of this year about why these two businesses were better together. but what we haven't talked as much about is what happens to ebay itself, the marketplace business. still the larger part of the company both in revenues and in profits. perhaps it would not get as higher multiple in the market or will not when it is a publicly traded entity. i asked him as well, i can understand to a certain extent some of the benefits that will accrue to pay pal. are there any benefits that accrue to ebay? >> e-commerce is still in its infancy. e-commerce even when you add mobile commerce is still only 15% of retail and ebay is well positioned to capitalize on that future. i think a more focused ebay and
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an independent ebay will enable ebay to take iths own cash flow and not have it redeployed into another business but rather to take its own cash flow and focus it on its own growth, on its own m&a if appropriate, or buying its own stock back. so i think this sets the ebay business up to succeed as well as setting the pay pal business up to succeed going forward. >> what new opportunities if any does this open up for ebay? >> well, perhaps one of the most important new opportunities it gives ebay is control over its own destiny. when you're inside a portfolio and you're the lower growth business and you have the kind of cash flows that ebay has, often those cash flows get redeployed to other businesses. this allows ebay to take its own strong cash flow, its own strong operating margin and reinvest back in their own growth. >> focus, focus, focus of course seemed to be the watch word for why the company is now pursuing this strategy. something that its board decided
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on a number of months ago and is now implemented. it was mr. donahoe who defended why the company was best left together when it was defending itself against the proxy fight from carl icahn. >> david, are you getting any sense because it's interesting to see what the reactions over the course of the day. we had it downgraded the stock to a hold saying there's no more upside now that the plan is revealed. and then dan loeb saying we're taking a significant stake according to scott wapner in this company. so he sees something else for it in terms of catalysts. are you getting a sense that with the split, it could potentially put either part in play? >> you know, that has come up a number of times today. and in order to do it in a tax efficient manner, you would have to do some sort of a spin out and perhaps a reverse morris trust. otherwise obviously if a buyer came in, vuld to pay a big capital gains tax.
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alternatively when that's things are spun doesn't mean that they aren't conceivably takeover candidates, melissa, and if there have about no talks that took place prior to the spin could you do them in a tax-free manner or wouldn't accrue taxes. but i don't know is the answer to that question. i have not heard of any m&a around the situation. it was not something the board was contemplating when they decided these two companies are better off on their own with two new ceos, two different boards of directors, but we will see if, in fact, there is interest perhaps in either one or both of them from an m&a perspective. >> david, it's karen. so they never gave you a sense of why they did a 180 on this plan? >> well, they did. i mean, you know, donahoe said we came into 2014, our strategic plan that we decided on in 2013 was these two businesses still derive too many benefits from each other to take them apart. and that was the plan that i articulated as the ceo when we were facing a fight with carl
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icahn. our strategic review this year in 2014 showed something different. now, why it is that they saw something different this year, karen, than last year and suddenly it perceived all these changes in payments in particular, i can't fully answer for you. >> all right. dave, we're going to have to leave it there. thank you so much. >> you're welcome. >> great interview with john donahoe. what do you think? >> i think it's the apple news. i think that's what it was. i think that was -- >> i would think as well. >> alibaba. there have been a lot of things that have changed that gives them enough room for cover. >> i think it's a google approach. >> meaning google has approached them saying we might be interested in the pay pal? >> yes. although i thought, if i heard it correctly, david said that didn't happen. maybe it waent a formal approach. it certainly -- there is a big question mark. how did they do this 180 and everything that was wrong with
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it before is what's great about it now. >> right. >> that, you know, i'm not a full believer in that. so i wonder if they were being pressured. i also wonder how long would it have to be publicly traded before google can come in and do something. i don't know. >> i think the other interesting side of this is what do you do with ebay after and john donahoe talked about buybacks or m and a. that doesn't sound like a business that's high growth. when he talked about m&a, who would they buy? >> would wouldn't they be a target? >> ebay could be a target i suppose. i don't know who would want to buy them. >> maybe pay pal. >> that's thinking out of the box. >> wow. >> casino stocks popping today. we'll talk with jim murren next. the cdc confirming the first i o ebola case in the united states.
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and stocks surging in the afterhours session. we've got the ceo of sarepta coming up on "fast." a cure. today, we believe every life deserves world-class care. as one of the top four hospitals in the nation, over 100,000 people from around the world come to cleveland clinic for care each year. and we're ready for you with a second opinion or a same-day appointment today today today and everyday. call today, for an appointment today.
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in case you're just joining us, breaking news in the past
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moments. the cdc confirming the first ebola case in the united states. a press conference will take place at 5:30 p.m. eastern time. we'll go to that press conference live. we've also by the way got the ceo of sarepta, one of the companies poised to deliver clinical trial quality drugs for ebola patients. two big other stories today out of the casino world. first the china daily report saying investigations into corruption in macau have ended. jane wells is live at a c conference with jim murren. jane? >> thanks, jim, thanks for joining us. >> great to be here. >> before we get to it, this ebola thing, you're in the business of big public venues. how do you prepare for that? >> i'm sure most companies have
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been preparing for this eventual -- >> it's scary. >> we have thousands of employees that are trained on security but also housekeeping, on cleanliness, working with the public health departments. this is really serious. i'm going to be watching the press conference like everyone else, but, you know, i feel we're as safe as we could be for sure because we have so many trained professionals that this is their job. i worry about anyone. my mom at home in connecticut as well as anyone out here. >> china apparently the investigation may be wrapping up. it has had an impact on revenues there. all the major casino stocks up today. but now you have this unrest in hong kong. what's going on in china and how do you see this playing out? >> well, the headlines are confusing and the stocks have been very volatile but i'm taking a longer view. we had a great third quarter -- we had a great quarter last quarter. we're off to a really good quarter again this quarter.
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most of our business and most of our profit comes from the mass market. it's not from vip, either the junkets or the in-house vip which is where you are seeing some of that choppiness. it's a $50 billion gaming market. we're opening a $3 billion resort, another one, in a couple years. i think macao will be a $60 billion, $70 billion market. people are taking advantage of this turbulence and that's why the stocks are up. >> melissa, awed question? >> that relates to hong kong. obviously we're all watching what's going on in terms of the protests in hong kong. some very stunning photos. about 30% by some estimates, about 30% of visitors to ma cau come through hong kong. it's a short hydrofoil ride away. how concerned are you that this is going to impact your business in macau in the short term?
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>> it's an unknown to be honest. we really don't know what the impact will be. it's tough to watch those videos. i can tell you that the current visitation is up. our volumes are up at mgm macau. our mass business is growing. the mainland china business is strong and the other asian markets into macau have also been strong. there's no doubt any disruption in hong kong would negatively impact people coming via hong kong into macau. >> jim, while we're here, are you shrinking your floor space because millennials aren't playing shots? you're investing a half billion dollars total with aig on this arena and park and sort of these nongaming things. as vegas is changing, is this going away in terms of mgm resorts? >> it's not. in fact, i had a nice lunch with the manufacturer's ceo today. we talked about the future of the slot floor and of the gaming floor. there's no doubt las vegas demographics is getting younger. that's good news.
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it's gone from 51 years average age five years ago to 46 today, and as we know, those are social folks. they're online, they're playing games, they're interacting with their friends. so the traditional metal slot machine, it won't be the product they're going to want to play in the future. so mgm and the other operators are working with the manufacturers to come up with a reimagining of the slot side of the floor. i'm highly confident we can do that. there's some great technologists at these slot machine manufacturers, and, yes, we are investing buildings of dollars in nongaming, not only arena and festival and convention space because we understand that the demographic here is more diverse. people aren't coming here just to gamble. >> jim murren, ceo and chairman of mgm resorts. thank you for joining us. back to you. >> thank you, jim. our thanks, of course, to jim. in terms of the casinos, we saw them all move sharply in today's session.
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>> if you're looking for las vegas, if you think las vegas is going to be the one that goes forward and the more profitable one, you want to buy mgm. if you think macau is going to recover, obviously las vegas or wynn are the ones you bet. mgm is the only one that has more revenue derived from las vegas than it does macau yet it has some revenue driven from there but the one that's the most dependent on macau is las vegas sands. if you think that's getting better, that's how you get the torque leverage if you want to play macau. >> my extension if jim murren is saying there's no doubt there will clearly be an impact of what's going on in hong kong on the macau business, then you would thinkl vs would be the hardest hit. >> you would think but it's kind of curious that the investigation got wrapped up today when macau reported some of the worst numbers since the financial crisis. to my mind i think these are probably as bad as it gets and i would look towards the macau names because a lot has been priced in. >> got a number of biotech stocks rallying in the after hours session as the first case of ebola is confirmed in the united states.
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we'll have live coverage of the cdc conference at 5:30 p.m. eastern time. first, we'll talk to the ceo of sarepta, chris garabedian. >> "fast money" means trading. everyone has to bring their best information each and every night. the entire trading day ised preparation for the show that night. >> it's idea generation. it's all about giving you a framework for how to look at the market. as the world has changed, our show has evolved. i am guy adami, i am "fast money." >> i am pete najarian, i am "fast money." >> are you "fast money"? go to the nbc universal store and order your "fast money" tee. run with the big dogs. a simple question:rise askee in retirement, will you have enough money to live life on your terms? i sure hope so. with healthcare costs, who knows. umm... everyone has retirement questions. so ameriprise created the exclusive confident retirement approach.
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comcast business. big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on.
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(laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. welcome back to "fast money." just moments ago getting confirmation from the cdc that the first ebola patient in the united states has been confirmed. now just texas health officials giving us a few more details. the patient is an adult with a recent history of travel to west africa. the patient developed symptoms days after returning to texas from west africa and was admitted into isolation on sunday at texas health
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presbyterian hospital in dallas. now, we're waiting for more details. the press conference starting at 5:30 where we should learn more but again this patient is in dallas. developed symptoms days after returning to texas from west africa and is now in isolation at texas health presbyterian hospital in dallas. melissa? >> meg, thank you for the update there. joining us on the fast line is the yoep of sarepta, chris garabedian. great to have you with us again. >> thanks, michelle, great to be here. >> melissa. >> melissa. >> you indicated if you got the phone call, you have doses of clinical trial quality drugs on hand to be shipped for treatment. have you gotten that phone call yet? >> at this time we've not gotten a formal request, but as you mentioned, we do have enough drug to treat a couple dozen patients so we would have drug substance to be able to ship if we got the request for this particular patient. >> part of the tricky thing about this in terms of having this sort of drug, you have enough, a couple thousand treatments, but how long would
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it take to ramp up if it were needed? >> yeah. that's where you really need to plan in advance to ramp up for thousands of doses or anything larger than that, and so what we hope to do with the drug substance we have available now is to make sure we get as much information about how our drug works on actual patients infected with ebola. all of it in monkeys suggestis t really affects survival. it's safe in healthy volunteers. we want to get as much information about the technology. it would take many months to get more than 100 additional courses of therapy and could take upwards of a year or more to ramp up thousands of doses. >> remind us of the survival rates. 60% to 80% in primates versus going untreated? >> that's right. there's been multiple study was that particular ebola drug that have consistently shown between 60% to 80% survival where typically all of the monkeys
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will die within eight to 12 days infected with this virus. so, again, we believe the 60% to 80% is pretty remarkable. >> i want to bring in our biotech reporter. >> chris, i understand that you guys are participating in this consortium testing drugs in west africa. how quickly do that ramp up? could the drug be used to help stem that outbreak potentially? >> yeah. the welcome trust grant was to make sure there is a treatment facility that can ultimately administer drugs like ours to the appropriate patients in the appropriate manner. so we're very excited that, you know, the welcome trust is supporting the treatment centers to be able to administer the drug. again, we're here to provide the drug upon request for the appropriate patients, you know, requested by a qualified health care institution and provider and so, you know, we are just
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out there saying the drug that we do have available and the ition of the appropriate patient is important in this regard. >> do you need more funding in order to be able to ramp that up? >> well, again, yes, we need more funding to take the drug material that we have currently to convert that into upwards of 100 more courses of therapy or more. to be able to ramp up to the thousands of doses would require a larger investment and more time. that could take upwards of a year or more to be able to, you know, generate enough courses to treat, you know, thousands of patients. >> chris, what's your next step here? i mean, you put it out there that you have this treatment available on hand if called. are you in contact or are you in the process of contacting the cdc or dallas health officials? >> well, look, we have been communicating to all of the
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government agencies, the world health organization. we've had people at the table at every substantive discussion around how to manage this ebola outbreak and have educated everybody who is interested in learning about our technology and the drug we have available. so that's what we've done. everybody knows we're here. they know the drug we have, and we're waiting for that call. we have been in communication to health care providers in texas to make sure that they're communicating to all the people who are relevant that we are still here and available. >> and, chris, last question here, we're watching the stock pop in the afterhours session. we discussed this before -- apologies. chris is in an airport so he's on the phone but thank you, chris, for joining us. we discussed this before in terms of what you're pipeline looks like. let's say you sold all 2,000 or you gave all 2,000 of those -- the available drugs to whoever needs it, the cdc, et cetera. how much does that translate in terms of revenue because we're seeing an 8% pop in the stock in
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the afterhours. does that translate to an 8% increase in the market cap. >> i want to clarify. we don't have thousands of doses to deploy currently. that would take some time. we would need, you know, the funding to complete that manufacturing. obviously at this point we've not discussed or negotiated any costs for transfer or procurement. so if we got a request to really prepare and ramp up larger volumes of drug, we would need to discuss that and determine those costs and what kind of revenue would need to come into the company for us to be able to do that. >> chris, thanks so much for joining us. we do appreciate it. chris garabedian, the ceo of sarepta therapeutics. again, we are awaiting the conference, the news conference to start at any moment. on the other side of the break we will go there live once it starts. again, the cdc confirming first
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ebola case here in the united states. a live press conference straight ahead. being a keen observer of the world has gotten you far, but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running.
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welcome back to "fast money." that is a live shot of the dallas hospital where the
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patient, the first confirmed ebola case here in the united states, is being treated right now. again, we are awaiting a press conference to begin at any moment where the cdc director and several dallas state health officials will be speaking. once that starts we will go to that live. in the afterhours session we're seeing sharp reactions in terms of some of the biotech stocks, pharmaceutical companies that have potential treatments names like tekmira and sarepta. we're seeing an adverse reaction sell-off if you will, a decline, in the airline stocks. no surprise as there is some concern that is could severely impact willingness to fly right now. all right. so again as soon as we have that, we will bring them to you, the press conference. stocks remain relatively flat as we wrap up september. we're heading into what is historically the most volatile month for the year, and that is the month of october. what should you be buying heading into the month? let's bring in paul hickey. good to see you. >> good to be here. >> you did a handy dandy screen.
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you took a look at the s&p 500 and came up with the 20 names that had an 80% or greater rate of being positive. >> just looking at the last ten years for the s&p 500 because a lot of stocks haven't even been around foreign ten yea-- more t years. three we wanted to highlight. the first one is google. google, it's average gain in october is about 14.5%. positive 8 out of the 10 -- last 10 years. in 7 of those 8 years, it's had a gain of over 10%. it's not just one outlier year driving returns there. and everyone, you know, pooh-poohs google, they have their core ad business. outside of that, there's nothing there, but youtube, that was a successful acquisition, google play is becoming as big as youtube. faster growth rate. and the stock trades at a market multiple, it's growing 20 times. even if they aren't having success in other areas, they're still a cheap company on a relative basis. >> you also like reynolds
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american and ryder. so what you did, you actually picked -- you married up the fundamentals versus the odds of them being positive in october. >> so we looked at, you know, the stocks that showed up and then screened them on our fundamental, technical, and sentime sentiment measures. these are stock that is stand out and are worth mentioning. tobacco is a dying industry but pays almost 5% yield. if the merger goes through, it will have 40% market share. they're the second biggest company in the u.s. as far as tobacco and ryder, as long as you have an improving economy and lower gas prices, they lease vehicles, that's going to be a positive for demand for their goods and services and another stock that's averaged about a 5% gain over the last ten years in october and reynolds i forgot to mention has been up 9 of the last 10 years. only 3% gain but that high diffident cushions it.
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>> i took a look at the list an went straight to the company was the highest probability of mosting a positive return in the month of october and morgan stanley was on the list. 90% of the time. ice, 88% of the game. mastercard, 88% of the time. i'm wondering why your sentiment screen didn't line up for these. >> just highlighting three that are standing out, interesting. >> i'm sorry, paul. the cdc press conference is starting. let's go straight to it. >> ebola media briefing. i'm barbara reynolds. we'll be hearing briefly from four speakers and then take questions from the media. our first speaker is cdc director dr. tom frieden. >> good afternoon, everybody, and thank you for joining us. as you have been hearing from us, ebola is a serious disease. it's only spread by direct contact with someone who is sick
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with the virus, and it's only spread through body fluids. the incubation period is eight to ten days after exposure, can be as short as 2 days or as long as 21 days. it's a severe disease with a high case fatality rate even with the best of care. but there are core tried and true public health interventions that stop it. today we are providing the information that an individual traveling from liberia has been diagnosed with ebola in the united states. this individual left liberia on the 19th of september, arrived in the u.s. on the 20th of september, had no symptoms when departing liberia or entering this country, but four or five days later, around the 24th of september, began to develop
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symptoms. on the 26th of september initially sought care and sunday, the 28th of september, was admitted to a hospital in texas and placed on isolation. we received in our laboratory today specimens from the individual, tested them, and they tested positive for ebola. the state of texas also operates a laboratory that found the same results. the testing for ebola is highly accurate. it's a pcr test of blood. so what does this mean? the next steps are basically three fold. first, to care for the patient, and we'll be hearing from the hospital shortly, to provide the most effective care possible as safely as possible to keep to an absolute minimum the likelihood, the possibility that anyone would become infected and,
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second, to maximize the chances that the patient might recover. second, we identify all people who may have had contact with the patient while he could have been infectious, and, remember, ebola does not spread from someone who is not infectious. it does not spread from someone who doesn't have fever and other symptoms. so it's only someone who is sick with ebola who can spread the disease. once those contacts are all identified, they are all monitored for 21 days after exposure to see if they develop fever. if they develop fever, then those same criteria are used to isolate them and make sure that they are cared for as well as possible, so that they maximize their chances, and to minimize or eliminate the chance that they would infect other people. the bottom line here is that i
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have no doubt that we will control this importation or this case of ebola so that it does not spread widely in this country. it is certainly possible that someone who had contact with this individual, a family member or other individual, could develop ebola in the coming weeks, but there is no doubt in my mind that we will stop it here. it does reflect the ongoing spread of ebola in liberia and west africa where there are large numbers of cases, and while we do not currently know how this individual became infected, they undoubtedly had close contact with someone who was sick with ebola or who had died from it. in west africa we are surging the response not only of cdc where we already have more than 130 people in the field, but also throughout the u.s.
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government. the president has leaned forward to make sure we're acting very proactively there and the defense department is on the ground already strengthening the response. we're working withu said and other parts of the u.s. government along with a broad global coalition to confront the epidemic there but ultimately we are all connected by the air we breathe and we are invested in ensuring that the disease is controlled in africa but also in ensuring that where there are patients in this country who become ill, they're immediately isolated and we do the tried and true core public health interventions that stop the spread of ebola. >> thank you, dr. frieden. i'd like to next introduce our second speaker, dr. david laky, commissioner of the texas department of state health services. dr. laky. >> good afternoon, everyone.
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and thank you, dr. frieden. thank you for your support, the support of the cdc as we work through this current situation. as i start off, i first want to say our thoughts and prayers are with the family, with the patient, and that the treatment team for this individual. our laboratory, the texas public health laboratory in austin, has a specially trained team to handle high-risk specimens like this. we were certified on the 22nd of august to do ebola testing. at 9:00 this morning we received the blood sample. all of the controls were within the expected ranges and the pcr was definitely positive for ebola. we got that result back at 1:22 this afternoon. i want to reiterate that we have no other suspected cases in the state of texas at this time. but we are closely monitoring the situation and we're ready to assist in any way that is
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needed. we've been in significant contact with the hospital, with the local health department, and the cdc, and they have our full support as we work through this situation and we're committed to keeping texas safe. so again i want to thank the cdc, the local health department in dallas county and the hospital for the work that they're doing and we're working through this situation together. thank you. >> thank you, dr. lakey. our third speaker is dr. edward goodman, the hospital epidemiologist with the texas health presbyterian hospital dallas. >> we were listening to the press conference in atlanta on the first u.s. case of ebola confirmed here in the united states. we heard from the director of the cdc as well as texas state health professional. meg, i want to bring you in here. what were some of the highlights out of this conference? >> hey, melissa. hering from tom frieden, giving us a few details about the patient's travel.
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had come from liberia. has been diagnosed with ebola. left liberia on september 19th, arrived on the 20th of september. the patient had no symptoms when he or she left liberia or arriving here in the united states. developed the symptoms four to five days later. over the next few days sought care and was admitted on the 28th and has been placed in isolation in that hospital. frieden is making a few things clear here. ebola is only spread through bodily fluids, not spread through the air. patients have to be showing symptoms. they have to be feverish, have to be showing symptoms of the disease in order for it to be spreading so the patient didn't develop those until four to five days after arriving in the united states. he outlined a few steps for care and to make sure the case is contained. the first is just caring for that patient, making sure there's no risk it spreads to anybody else. secondly, also tracking any contacts the person may have had, and monitoring them for 21 days which is the period in which this can develop to make
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hur that they don't develop fever or other symptoms. and he's making clear he has no doubt that they will control this case. so it doesn't spread widely. melissa? >> thanks so much, meg. again, in the afterhours session what we're watching at least in terms of the reaction to thi news is the move of some of the pharmaceutical companies up sharmly. tekmira, sarepta, newlink jeanetgenetics and the impact o airlines and doing sort of a quick check on google in terms of flights from monrovia, liberia to los angeles. a lot of carriers connect through africa to parts of west africa. so grasso, what do you think the impact will be as we enter the quarter if markets are on edge, nervous. what does this do? >> we just heard from paul hickey. we're entering into an extremely volatile seasonal time period. midterm elections coming up. that's only going to exacerbate it. if you see consumer confidence, anything, anything to get people
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a little bit scared, a little bit schequeamish, people will s first, revisit the markets later. >> stay tuned. everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they could save you in out-of-pocket medical costs. call today to request a free decision guide. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and virtually no referrals needed. join the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. with all the good years ahead,
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again, breaking news if you're joining us just now. we just came from a live press conference held by the cdc confirming the first u.s. case of ebola. we had the director of the cdc tell the public basically what they should be looking for, the incubation periods, where this person came from which is west africa. we were talking about nervousness and the seasonal volatility as we enter october. what we had was interesting as well, we mentioned at the top of the show the deterioration in the russell which you have been flagging as a canary in the coal mine. you add this on top and i don't know. >> we've been talking about the russell long before. i want to be clear, we're not -- none of us here are trying to fearmonger. this is something that happened 20 minutes before the show came out. we're just trying to address what we think can happen in the markets based on the information we have. i think that's pretty clear. i have been talking that the russell is going to go to 108 for a while. this does nothing to change my view. so i still think 108. we'll see what happens to the
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s&p if the russell gets to that level. i think the s&p is at critical levels. that 1970 level has been supported. bounced off there drastically and closed there. i think there's a chance we breach that. my level has been 1904. i think steve has a different level as well as k.b. ab.k. and. >>. >> we're not trying to fearmonger, we're just trying to identify what the moves might be, the reaction to this. karen, you mentioned the obvious one would be airlines. in terms of consumer discretionary it could have a broader impact. how long do you wait to see if it's trickling through? >> i actually think that it would be -- well, i don't know. we could -- depends how this thing evolves. we were just talking during the break how it's scarier when they're in the hospital but in actuality it should be scarier when they're out walking around. last time it actually went away within a day, that expected case
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in new york. >> exactly. that's true. got to take a break here. we come right back. stay tuned. all aboard. sinking oil is putting cruise liners in a great position to turn a profit. plus e babay and pay pal headed spritzville. here. or here. or here. it's wherever this is. to get customers to come here and stay here, you're going to need an app that connects to all your systems. so they can bank, shop, do what they need to do, and you gotta do it fast. before the competition does. it's tough out here; you better be on the right cloud. today there's a new way to work. and it's made with ibm.
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welcome back to "fast money." we just want to keep an eye on shares of angie's list. according to "the financial times," the company has hired bankers to explore possible strategic options. those options may or may not be a sale of the company as well. those shares were up about as much as 20% in the afterhours. you can see up by about 10% right now. it's a very choppy trade. i will say this, melissa, only about 55,000 shares are traded. a smaller cap company possibly putting itself up for sale affording to "the ft." >> time for final trades. >> kb home. it's trading way below tangible book. i got longer today. >> ec b, nonfarm payrolls. >> karen? >> finish line got crushed on earnings. it was way, way overdone. we bought some today. >> actually scares me but beaks and i are in the same camp. i think -- it didn't trade
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well -- >> for the ecb meeting, the jobs report on friday and possibly for ebola if there's a safe haven trade. >> and rates have been going lower, tlt. >> thanks so much for watching. see you back at tomorrow at 5:00. my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. >> hey i'm cramer. welcome to "mad money." welcome to crameric. other people want to make friends i'm trying to save you money. my job is not just to entertain you but to teach you. call me at 1-800-743-cnbc or tweet me @jimcramer. we have our first ebola virus case in the united states. we all heard

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