Skip to main content

tv   Closing Bell  CNBC  June 1, 2015 3:00pm-5:01pm EDT

3:00 pm
hi everybody, and welcome to the closing bell. i am kelly evans here at the new york stock exchange. welcome guys. great to have you along. bio tech and health care stocks on the move today. new results coming out of the super bowl for the cancer research. we will take you there live coming up. >> we have another interview for us. dominos is focussing on the digital. the company is hoping to be known for just more than pizza, and the ceo is tellings about
3:01 pm
the tech to table push coming up. a $17 billion deal this morning. intel buying and what it means for the space and first cnbc interview coming up. really looking forward to that one. here is where we stand into the markets of the final hour and the first trading session of the month. the dow is up and the sprks is up and then gains across the board:the nasdaq up to kick off the week there. joining the exchange today, we have sam here from s&p. the index is significantly performing this year. a lot of discussion as to whether or not today's rally sam is a good sign what is the read from this important thing? >> well i think that it's a
3:02 pm
good sign. i don't think that it's a sign or indicator that can have timing mechanicians behind it. if it's down by a significant amount it's fair to ball out. it is in con junction with the other indicators. right now the yellow light is just flashing. >> transport means a lot of different things. today we're talking of the airlines. this is one of the reason that is we have seen underperformance. comments about keeping capacity in check. the airlines are across the board. how much of this a real telecom pair today the sector? >> well i think that it has a lot to tells. until we come up to transport, we still have to rely on the trains planes and ships, so transport is very very important. i think when we had the manufacturing number come out this morning that was better than expected that gave the reason to do better.
3:03 pm
>> transports are so dependent and rick i am wondering how much we read into the industrials and the transports when looming in the background there's the day-to-day skpax that's the big driver here. >> well i think the big news and in the market is not necessarily what you described. i think that there's always going to be interaction back and forth. i think that the average middle class person did a much better job than all of us in understanding how short of a period of time gasoline would be close to $2. it's not over $3 in much of the country, and did not spend much in that low 40s as many thought. i would continue to look for energy to be more buoyant than not. the gasoline was down for a while, but the savings were not that large. not with the standing this morning, and we saw spending on personal spending and it was at zero even though that income kicked up four tepths.
3:04 pm
the other issue is yes, high summary was good but not the best of the year. to me construction spending of 2 to the 2 was definitely the data point that we could hope for moving down the road and seeing the construction numbers and housing pick up a little bit better. >> it's interesting as well and looking at the global commentary and the feds preferred measures came out this morning and they had analysts saying that the u.s. fed may have to wait. they can not move as quickly as they want. the inflation periods are just not there. what do you say? >> i say that zero is too low. if we're at a higher rate the real question is would the fed be lowering or not? i think that they mised a great window wen we had the good data last year. at this point if it was not about a rate discussion and we were not at zero i am sure that the last thing on our minds is the economies over heats. we need to up tick. the politics has been there too
3:05 pm
long, and it's doing damage and the faededs wants to get a head of it. >> okay o. joining us from wells fargo, god to have you along. we're going to move on to the other big story today and that's intel acquiring for $17 billion. this was no secrete. what does this mean for intel and the rest of the face? >> well we had vmw last week and one of the biggest events ever. we have rumors of arms looking to take out -- and what do they do? they're under pressure. they have announced that they're giving back to some shareholders shareholders, but do they need to make a move here? what kind of a move do they make? is it more in the space? do they try to do something more
3:06 pm
aggressive? >> well it's interesting to see this and it takes three to make a trend. with today's deal we have three deals in a space. john i will throw this question to you. with all of this at what point do you buy potential targets that could correct if they do not have a deal or do you wait until they pop up? >> i tend to like big stocks at this point in time. i think that they're no different. there's a lot of money expand buying power around. it's a better game trying to play improvement in the industry for a longer term for the consolidation and rather than to pick out what is next. >> john let's talk a little bit about where this leaves this. we are looking with the m and a going on. are these spaces that people should be buying into as this plays out? >> i think so and i look at the
3:07 pm
bio tech era, and i think that it's interesting. it's expensive, but it's expensive for a lot of good reasons do not seem to go away. it's typical of something else that's going on. there's a lot of money and buying power still around. that maybe a function of what the feds are doing. there's still a lot of buying power out there. that has things go to the industries where there's a buyer and be on them as well. >> okay. we will have more on the interview with the ceo next hour. meantime they should stop buying their stocks and buy others. speaking of mma are we -- suggesting this what impact is that going to have? >> well the recommendation is going to make sure that you use the money to help grow the position and companies are not
3:08 pm
going just do the dividends, ost a combination of all three. it's really a recommendation to make sure that you look to increase the margret share than anything else. >> it's interesting that they're saying that companies ought to use the stock given where we are right now and not the cash and debt necessarily. we see intel using the cash and debt. what should we take from that? >> well usually there's a lot of cash and the stock has not appreciated that much. usually to the latter part you find companies using the over priced shares as currency to buy other companies. i would look at that. >> yeah in this cycle we have debt that's at or below. that's throwing off the mix of that. rick, it's interesting to see the note from saks.
3:09 pm
he was saying in stead of buying back the stock, you should be investing in the workforce. david is saying do not buy it back. either way it sounds like we're doing the same thing. do we agree. >> i think that we can see them and let's be honest here. buy backs has been the key driver of the rallies the last couple of years. it's easy going and up in pras. what happens when we turn the corner and start to move lower. at this point i don't see them changing much. if you're looking for a big investment in the future it's going to be the next cycle. >> okay. we will leave it right there. really appreciate this hour. john and sam and rick we have got about 50 minutes to go in the session as we stake a look across the market. the dow is up 79 points and the nasdaq up 26. up next we're going speak to the ceo on the war aginst cancer and
3:10 pm
how the drug makers treatment is for o vav canadian cancer just faired in the latest test. and dominos allowing hungry customers to order it just by tweeting an emoji for the company. we're going to have to give it a try. we're going sfee it arrives before we speak to pat about the countries innovations. you can see what happens on the closing bell here@dominos. there's the pizza. are you ready for this. boom. ordered. closing bell is back in two. you wouldn't take medicine without checking the side effects. hey honey. huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck.
3:11 pm
for the millions of americans suffering from ringing in their ears, there's no such thing as quiet time. but you can quiet the ringing with lipo-flavonoid, the number-one doctor-recommended brand. relieve the ringing with lipo-flavonoid. your mom's got your back. your friends have your back. your dog's definitely got your back. but who's got your back when you need legal help? we do. we're legalzoom, and over the last 10 years, we've helped millions of people protect their families and run their businesses. we have the right people on-hand to answer your questions backed by a trusted network of
3:12 pm
attorneys. so visit us today for legal help you can count on. legalzoom. legal help is here.
3:13 pm
. welcome bachblth beau is up. we have about 45 minutes to go and several reports to digest and i sm and inflation. not much going on on the front as well. all contributing to the higher and moving green across the board approximate. all day long cnbc has been live at the american society of clinical oncology meeting. that's where the executives and
3:14 pm
top minds have been tackling major obstacles with the cancer treatment. our own meg janes us now with with patrick. meg? >> reporter: kelly, thank you so much. thanks for joining us. tell us about the lung cancer drug. you have had some data coming out and some said that you were continue controversial about it. what was that about? >> we show data that showed a ten and a half month progression in those that did not have the meds. they're poor factor for people will lung cancer and showed an eight month and nearly 50 percent of patients that had brain that tas sis. when we can deliver this kind of data, it represents the
3:15 pm
treatments in a character four untreatable disease and treated with chemo and would deliver about three survival. >> tell us about the land of work nothing the same space. which one of you might get to masht first or does it matter? do you have to get to market first to win here? >> well we will probably arrive at the same time based on their statements and ours and the time line. i they we're going find out in the marketplace how each of us do. i am looking forward to being a strong competitor. >> kelly, you have a question. >> patrick, reporting what happened and saying that in a widely attended speech these drugs cost too much. what is your response to that? >> you know i think that's the theme that's sbrisexisting. when you have a drug that
3:16 pm
delivers results in only 25 or 20 patients three times as more patients are not getting benefits. we had o var ranvarian and if you know that everybody who gets it is benefitting from it. one of the ways to address this -- who do you think he is referring to when he says that cancer drug prices are not relate today the value of the drug. it's based on what is before and what the market will bare. >> well at times there are some priced that did not deliver the value, but i come back to what we're doing. we deliver in both cases they have worked in about 90 percent of the patients and worked for a long period of time. so that's what you get for what you pay. you deliver real value. >> you got break through from
3:17 pm
the fda and that's going to speed the path to market. what's the time line for that? >> well we will file approval in july, and we're going to be prepared to launch in drug by the end of the year. no one would predict the time line but we have to be ready. they have just received the break through in april. it's the subject now and we will follow that in the middle of next year. >> any bio teches have to be prepared for the year. how do you think about business development and the future of the company. a lot of folks say that you may be a take over target? >> well it's interesting to everybody but me. it's just running the business. we have a lot on our plates and preparing for a launch that could be an important drug. if someone takes the key awarks
3:18 pm
they take the keys away. right now i am driving the car. >> are you looking for more drugs to file the pipeline? >> well one day we will. we have built it through licensing, but at this moment in time, we're busy. earlier is where we may start to look for something to add to the portfolio. >> that's a huge focus here and what kelly was mentions here i think that he was talking about the combo drugs. you're not working in the space but looking where it reaches. >> well we have a strategy if you remember that. we love him in the therapy and what it delivers. we're trying to bring value for now have not shone that they benefit from the therapy. it does not work in everybody and in every tumor type. we focused on an element of lung cancer has a negative affect that's reported here. we show the 60 percent rating
3:19 pm
and in ovarian, there's no evidence that it's providing the meaningful, and we deliver a 94 percent disease rate. i am excited for the fact that we as a company have a chance to augment with what oncology is doing to bring value to the sector that might not otherwise benefit. the second thing is with them delivering and maybe they can have a backbone to which the oncology can be add and be a combination that can generate that long tail and history. >> thank you so much for joining us. >> great. thank you. >> kelly, back to you. meg, foodgood stuff and appreciate it. thank you very much. all right. chrysler is look for a merger partner and phil has the details
3:20 pm
now. phil. >> just a few minutes ago we talked and we will talk about about the conversations with surge and we also want to talk about the other story and that's the article at times that essentially added up the incentives that the solar city as well as space x have put together, and they have said that it's $4.9 billion for a run company or a company that there's a leadership roll in and here is what they say about article article. >> well, adding up everything and including things that will take the next 20 years to happen and summing that into a number and applying it today. it makes it sound like my company is getting a huge check
3:21 pm
and that's false. >> and in fact a number of those things are spread out over 20 years out in nevada. now to the talk about whether or not they will merge and the ceo of chrysler has been clear that he is in the market and look for someone that can partner up and he was out in the valley and met with eli and musk says that there was no talk about a merger. >> no, they want to merge and we had a meeting and that's the guy and it was really enjoyable meeting, but it was mostly talk about the potential operation in the future. nothing like that. >> eli talking exclusively to cnbc and where he is right now and the emergencier if he is
3:22 pm
pursuing any. one last note guys on that issue of incentives and when i talked to them on the phone today he says there's little mention on the benefits that my companies provide, and he pointed out the gig factory. it's fully operational and then he says you want to compare the benefit that they provide verses the tax incentives that were part of the package put together by the state of nevada. guys back to you. >> all right. phil thank you. a controversial figure as always. eli a must. the dow up and the s&p adding to the broad margret there and the nasdaq up about 25 above the 5,100 level today. up next as the travel season gets up to date we will get a read on the consumer with the ceo best western.
3:23 pm
plus today is the official start of hurricane season. find out what stocks seem to perform best as we start to watch for storms. we're back in go. (singing) you wouldn't haul a load without checking your clearance. so why would you invest without checking brokercheck? check your broker with brokercheck.
3:24 pm
3:25 pm
3:26 pm
welcome back. hi morgan. >> hi kelly. sharp shares of pandora hitting. apple is expected to announce at the developers conference and putting it in direct competition with pandora as well as spot fi and the shares are down one percent and now back over to you. >> okay. thanks morgan. let's take a look at the other big movers today. go pro launching and the new hero plus cost $299 and features a touch clean and built in wifi. after upgrades and to buy fromthe neutral and raising the target price to $61. retailers downgraded to neutral and out perform and that's also
3:27 pm
cutting it's price target to $12 from 16 in the firm raising concerns in the spring sell could do the profit. home away higher to display the vacation rentals on the price line. yeah eight and a half moves there. biggest gaerththering in new york today. simon is with one of them now. simon? >> hey, i wanted to bring you the interview and it's best western with 4,000 licenses around the world. it's a four profit and david is the ceo and welcome to the program. >> thank you. >> we try to get a read on the consumer. what are you see something. >> well if you think about a consumers ad for the industry we're seeing occupancy levels. the highest ever in the history
3:28 pm
of the hotel industry. that goes to show you that a lot of people are traveling and enjoying the traveling. >> you just launched a new brand and that's i am ed at minals and not to chase them with technology. >> yes absolutely. we just launched after a lot of research with what today's travelers want. it's very important for the future and at the same time we don't want to not -- >> not too much technology. >> yes. we trefr launch this product that's got very vibrant designs but at the same time great technology that's over powering. >> just now they were talk about how some of the companies were able to get quoted to be price
3:29 pm
line and so forth. >> i worry for the brands and this is why i worry. price line is going out into the mart place with some of the smaller things and saying let us be the comeputer system. we will run the hotel. if they continue to do that for free what future would best western and the other brapds like choice or windem have? >> well at the end of the day i think that you have to ask yourself this question. any brand exist only in the mind of the consumers. price line can do that or through the hotel product, but through that hotel's name for that consumer. at the end of the day, the consumer has to think about that brand before he can try to make a reservation of the brand. >> do i need a brand in the modern day when it can present me directly with mr. hobb's
3:30 pm
guest house in tuscany? >> well there are certain people that will i am for that. if you ask the highest converse occurs for a branded hotel like best west herb or marriott. they feel safe and reassured and comfortable with the brands. >> great to meet you. david congress david kong joining us. back to you kelly. >> simon, i am more interested in the guest house in tuscany. what more can you tell me? >> there's a whole launch of them around the world. the hobb's guest house with a little twist. >> great you. it's the last half hour of the trading day that means the increase in the trading activity. how are things shaping up in the close? >> well t ramping up of the volume. peter is with me and this is something that we're seeing for the last six months. what is today's trade telling you? >> well, a lot of people moving
3:31 pm
back into the transportation sector. it's up over 115 points and i think that it's lagged the whole market since the beginning of the year. people are starting to put some money back in the airlines and trucking companies, and they're all well priced with the market. >> when you think of the deals that have been announced or reported human that is one that was reported over the weekend. there's a potential target. it's in the deal names and is that largely done after the open today, or is that happening in the afternoon? >> no it continues all day. you end up seeing the activity and then as you get to the close there's a lot more activity and that's going to continue. a lot of the health care and well manged one rs going to be right for that kind of trade. i think that we're seeing a lot of volume come in on the close and trying to position
3:32 pm
themselves for potential for something to happen. >> quickly before we go. are we balance lapsed to sell or buy for the clothe sns? >> the margret has sawed off a little bit. >> peter thank you so much. kelly, back to you. >> yep, the dow is up only 58 points at this time. it's time for a cnbc news update with sue. hi, thanks. the white house remains confident and they're talking with iran. the secretary is on the way back to the u.s. after breaking his leg in a bike accident on sunday. former house speaker dennis is arranged on thursday in chicago. he was indicted last week of lying to the fbi and paying $3.5 million in hush money in illinois when he was a teacher and a wrestling coach. the supreme court through out the construction of a man making
3:33 pm
threatening statements on facebooks to his estranged wife. by an 8-1 vote he decide that had the the man needed to be aware of the threatening communication in order to be convicted. work has begun no paris to removes thousands of locks to the side of the bridge. the couples have been fixing them and then they throw the keys into the river. the problem is that part of the guardrail fell into the river weighed down by the locks, so they're being removed. >> oh man. i hope that they can save that somehow. it's a lovely testament. >> it is. it's now taking place in parts of new york and washington and other european cities. >> yeah that's a trend worth following. >> we have 30 minute toss go in the close and nasdaq 18 and dominos is delivering for
3:34 pm
investors and ceo tells us his recipe for success, and we will see how well the twitter system is working. later intel ceo bryan krzanich joins us. here at td ameritrade, they're always working. yup, we're constantly making thinkorswim better. like a custom screener on your desktop, that updates to all your devices. and you can share it with one click. wow. how do you find the time to do all this? easy. we combined every birthday and holiday into one celebration. (different holidays being shouted) back to work, guys! i love this times of year. for all the confidence you need. td ameritrade. you got this.
3:35 pm
3:36 pm
3:37 pm
welcome back. earlier in the show you saw me place an order for a pizza. well the tweet did not work. you can take a look. we ended up having to go on line and place an order in a traditional way in a first on cnbc. we're going talk about this with dominos president patrick, and welcome to the program. first how many people have tweeted you and how many orders have you successfully tweeted. >> i think that we have 100 share of tweet orders right now. it's still relatively small, but there are about 10 million people that have set up a profile, and so they have a profile and you put in an easy
3:38 pm
order in there, and then you have to put your twitter handler in there. i guess that you sent us a pizza emoji but it did not know who you were yet. >> yeah everybody knows that you tweet at dominos and then you get a direct message. ours said sorry you do not have an easy order even though that the profile was set up, and then it seemed to work again and then you can tweet a thumbs up within 20 minutes and did that and from the next message it says that we were not able to place the order. patrick, is it more or less than 100 peters that you have successfully delivered? >> more than that. >> okay. i am interested. back in the day the drive through was the new fast technology in food right? do you think that this phase of social media represents the next forefront? >> well it absolutely does. what we're seeing is that our
3:39 pm
customers want to be able to access dominos anywhere that they are. we look at the time on social mia and the screens. you can order on your ford sync system, we have apps and web. all of the different webs that you can come in and access dominos. every time that we do that it's business for us and you know it drives ultimately sales and customer satisfaction. >> patrick, it seems to be a risky proposition this twitter thing that you're doing. if i am hungry and i tweet you a pizza and i am not getting a pizza, oh my goodness. kayla is getting angry over here. i don't know what is going o happen. verses the app, how do you expect twitter to perform. if there's an app they place an order and it should be simple
3:40 pm
right? >> yeah mobile is about 25 percent of our sales, so off of the apps or off of just the mobile site so certainly twitter is not going to be that big. it's one in four orders for us nod the u.s. it's over mobile so probably half of that on apps about half of that on just the mobile site. so it's certainly going to be smaller than that but as i said every time that i add new ways for people to access to brand, it drives sales for us. >> patrick, you would expect that a dominos customer that's tweeting you a picture is dex terous. they probably already have the app, so why would they go to twitter and not the app, or is that what you're going after? >> if there's a regular setter there's nothing quicker and easier than the emoji and the
3:41 pm
thumbs up. the other thing that's great about it is that first interaction that's going across to us is public. that's the person also telling all of those friends and followers on twilttter that they have just ordered a pizza. it's a way of endorsing the brand by doing it over twitter. >> patrick, you guys recently just remade the brand. you're no longer dominos pizza, but dominos. i think that i should be able to tweet a sandwich to you and get that as well. what are you trying to get them to do as we enter and take the existing frame work and move into the era of the casual food. >> yeah if you look at what -- we have the food right five years ago and our advertising is
3:42 pm
great, and we think that we have value figured out well. we moved into the technology as well that we have been talking about. now we're in the process of reimaging the stores and opening the kitchens and making it transparent with the concept that we're rolling out. there's a lot more that we're doing, but it's about really modernizing the brand and redefining what it means to us. it's a fast delivery. now we want to do the carry out and the hospitality right and the brand is another way to give service to the customers. >> it's a whole new world patrick, thank you so much for being here. emoji emojis, i don't know what is next. we still want to pizza. >> you will get it. i promise. >> we ordered it the natural
3:43 pm
way. 18 minutes to go into the close. dow is up 37 so we have come off the highs of. the s&p up to five points and trying to hang on to the gains. if you did not know hurricane season starts today and it has brought weather and perfect storms for some stocks and we will tell you what companies benefit the most. coming up next. meanwhile the president race is taking i am at wall street. bullies of wall street and the president is not a crown to be passed back and forth between you and go royal families. >> is former governor a threat to wall street or hillary? that's coming up in the battle.
3:44 pm
3:45 pm
3:46 pm
welcome back. today june 1 it's the official start of the hurricane season. we have the stocks to watch as the storms roll in. >> yeah today is the first day of hurricane season but it's not until late summer that you're going see the big storms hit and investors are bracing now and there's researchers out and how do you manage it.
3:47 pm
it's oil and energy. if you look at o i h these are trades that do well and it's not what you think. it's a lot of researchers and the energy stocks do not suffer because of the hurricanes. in fact people tend to get nervous when it scares people and then when it makes it and to take advantage to that and the oil and energy and you can even take advantage of the volatility and the insurance stocks and the announcement of the hurricane landing and the announcement of the hurricane and when it lands. that's when you take advantage and four insurance company stocks and you can make some money if you do those types of trades. >> eric, i love that you mention the well in the piece and gold is another asset. it seems to hit when reality hits. >> that's safest stock when
3:48 pm
people are scared and you can not trust the stock market. it has a lot. you have to go for safety there. >> easier than the stringles and straddles. thanks a lot. the dow is up and then we're off the highs of the season today. and uber quartering after approaching 40 scientists. find out how that will impact research and development in the tech world wamming up. and attack of the drones. cutting his hand on a drone at a concert this weekend. how dangerous are these things? they could be flying everywhere. we will be back in a moment with enrique.
3:49 pm
you be uber enrique
3:50 pm
3:51 pm
. welcome back. about nine minutes to government there's about a billion dollars to sell on the close, but it's about half called off. still some pressure there and joining us for more and good to see you. >> always a pleasure to be here.
3:52 pm
>> always focused on the financials. what's moving these names today? >> well i think what you're looking at is the moves and interest rate and the sectors and sometimes the banks go up when the rates rise and sometimes they should. today the rates are rising and the banks are done. >> do you think that has anything to do with the rev reck? >> well certainly against the bigger banks and not the sensitives one. you have the monthly rebalancing going on and huge on friday and some of that is reversed today. you take these two days and cancel them out and say that nothings happened. >> anybody that's invested and all of the data we're going to have a read on if that's going to happen soon uber or later. a lot of people piled in last year because they thought that it was coming last year and then they got burned. >> right. >> where you put your money now? is it safe to be in the regionals? >> i think that it's fine to be
3:53 pm
in the bigger regionals. i am down because i think that mna is approximatepercolating. >> the big space alone. >> yeah the swiss bank. >> we know the deal but there are a lot of deals that have not been closed yet and we're still waiting, so can you bank on any of these deals. >> we have not seem them close. we would like to see them close for the bigger ones. under it is tons and tons of transactions and closing. >> i have heard someone say that it's basically regulation that's not going allow a lot of the demands to go forward. is that going to remain the case and that's going to keep anything from happening in the space? >> well, the companies that are under 10 billion are absolutely
3:54 pm
buy ubers. if we get the relief we're going see the 5th and the bb and t's and you will see bigger deals or first horizon being involved. right now the desire between two and ten billion is a sweet spot. own a basket of stocks in the south east that's under a billion in assets and stuff will happen. >> i can order it at this point. i mean what can the banks do for me. can i deposit my money, or the new technology out there. they have to be invested in this area don't they? >> well it's making it easier for them and more cost effective. how many people are in the branches now? less people. they're able to actually reduce the number of employees and brachbs and focus on selling
3:55 pm
more credit problems. i think that some of them are going to be dangerous the next cycle. >> thank you. >> let me give you a new example. we just had a pizza delivered that we ordered several minutes ago and had to do it through the website. i want to say thank you for bringing it up here. i don't have any money to tip him. i need an app for that. >> that app is coming. if i it would you who had it i would get in trouble. i cannot finish the sentence. >> thank you. good to see you and some good ideas there. we're going to chow down here and then we have chip maker for nearly $17 billion and we will speak to the intel ceo about this big deal and whether the consolidation in the space is just beginning.
3:56 pm
3:57 pm
more and more, data is visual. in fact, the number of mris has increased by ten percent a year. and a radiologist might view a thousand images to find one tiny abnormality in shape, contrast or movement. because it's so challenging a research project is teaching ibm watson to see. in the future, it could help clinicians spot key patterns quickly and precisely. ibm watson is working to make healthcare smarter every day. hey, what are you doing? you said you were going to find out about plenti, the new rewards program. i did. in fact, i'm earning plenti points right now. but you're not doing anything right now. lily? he's right. sign up, and you could earn plenti points just for being a wireless customer.
3:58 pm
in the meantime, i just kick back and watch the points roll in. where did you get those noodles? at&t cafeteria. you mean the break room... at&t - the only wireless carrier to be a part of plenti now when you add a new phone line to your wireless plan you get 5,000 plenti points to use in lots of places. welcome back and what are you watching today? >> well up fortunately the economic news was good but not good enough to lift us. that's the problem. we're at historic highs in the stock mart but we don't have the moves that's efficient to generate a lot of interest by the trading community. we bumped up that and passed that a while ago. we're moving up modestly. without better economic news we're not going to do it. today was okay but not great.
3:59 pm
>> there could be some later this week and it may or may not make the payment to the maps and then jobs data on friday. >> we're looking for the jobs number and that's going to be very important. the key is the trading community and hypersensitive to the ten year yield right now. we moved up today and it's very positive and it's two percent. right around there and bumped up against it and it did not t roll over. we're going to have problems if we have two three or three two five. that's where the mart had it in the past. >> the dow and s&p looked sad falling off. what should we pay more attention to? >> well, we should on the first trading day of the month normally get a little bit more volume. we should be getting to 3.2 billion shares. we're barely going do 2.8. we need more energy in the market and hopefully the job numbers on friday will help.
4:00 pm
>> we have seen more on the downfall traditionally. >> yeah it's not much to concern the affectiveness. [ applause ] ♪ ♪ [ bell ringing ]. hi and welcome to the closing bell everybody. i am kelly evans and on this monday as we finish up on wall street looks like green arrows across the board and a descent day never the less. the market up is about two tenths and the nasdaq up twelve for it's part. we're going to get to it and talk ability theout the data that we got. joining us now is evan with our own kayla. welcome or welcome back in the
4:01 pm
case. >> are we going to talk about you stiffing the dominos guy. >> i am sure that he got a tip. >> you're saying that you're sure. >> i want you to follow up on that. >> i do as well. we will get the answers. >> he is lost here in the crowd. >> that's so true. with us today in the markets guy is joining us and good to see you. >> hey. you got the same crew there. tell everybody i said hi. >> listen let's start with the market, we're kicking off the month of june and get a ton of data and that came in better than expected, but the consumer spending was flat. a lot of rial case rates. >> you can have them look however you want them to look. the bears will tell you the numbers and they will say that the numbers are great and the reality is that numbers are at best mix. what it tells me is that the
4:02 pm
market is whatever news you want to throw at it and talk about the greece and volatility. it's going bounce today and it's going to continue to fuel the strength in the market. as long as russell can hold where it's holding, the s&p will go high uber. >> can you remember a time when the s&p basically for five straight months is traded in a narrow range has not gone anywhere. recently re. >> i don't exist and i am 51 now. i have trouble remembering and i will say this. in terms of the family i am in the belief that the market does not give you time to buy the lows or in this case sell the highs. that mean that is there's probably another leg high uber.
4:03 pm
>> the market is changing mind each day and -- >> i will give you a good example. it happened last week. you had a stock traded close to eight or nine times normal buying. it was down 25 percent on what was disaster numbers but not down 25 disaster. especially when you take in consideration that it's not traded now for six months. you look at the volume and the people that throw in the towel, and that gave you the opportunity. on a tape you had that stock up significant, and those are the things that i am look for.
4:04 pm
hopefully that answers the question. if you're trying to replace the stock market and not follow the opportunities to present themselves, you get caught up in the wash. >> listen so you face the environment and try to get to work. where do you invest? >> well i am going to have to disagree with this. for most people there's nothing wrong with being patient. there's nothing wrong. a few things are going happen this summer. greece is going to go one way or the other. i think that you have to wait for that. that's a trigger. the jobs number we talked about whether economic data would get better in the spring. i think think that the jobs things will be other economic data that you're going to see, and then what the feds are going. that will probably bare in some other natural disaster and that will be the rode map for what you should do. i don't think that there's anything wrong with buying the time right now. nothing is that compelling.
4:05 pm
>> you know the interesting thing is if this is right and some of the hints from fisher or the community right now and they end up doing just a one interest rate hike or a two when they're done. that's the benchmark and maybe even then move it down. we're so used to the stair step and to the traditional assumptions assumptions. >> it's hard to know where it's going to come out. maybe there's one or two hikes, and there are other people on the side of the table saying that this is three to four years and ooer going reach three to four percent. so it's impossible to know where the fed is going to come out on this. we're going have to wait and see. i know that's not poplar to say. >> i come back to if you're an investor and have a long uber time i go look at the risk for reward trade off. if you're buying a stock or want to buy the bonds, think of what is the upset. what is the realistic upset, and
4:06 pm
then what is the down side. when you do or use that kind of benchmark, that's why a lot of people like me say i am going sit in cash and stocks are relatively expensive. you're upside in a lot of these intans instances is not screaming that you're going double the money. the biggest news is intel buy buying altera. >> we have john and bryan let's begin with you and what this means for intel. >> sure this is about us bringing the fpga market boo intel. it allows tous use the law and advantage to bring enhancements and then there's a class of
4:07 pm
products that can utilize the processors together that can accelerate the performance and that took two as a result of the combination of the products. >> if you do not mind what does that mean in plan english? >> well it's a data rain. so you can think of it as a sea of gates or a bunch of gates that you can program. you can put basically your software down into the silicon and that allows somebody -- if you have one that looks at the pictures and finds a face you can put that in and that means that it goes at a much much fast uber uber rate than if it were in
4:08 pm
storage. some people say that the same forces are driving them. they're going to get intergrated on a single chip and both of you are fighting it from different side of it. they're trying to stay relevant as it happens. you're trying from the position saying that we want to be the ones to interner grate it and do it well. what do you think is driving the the environment? >> well i think there's a certain amount of this that's going to occur t. there's going to be mna occurring for the near future at least. for us it was about bringing this property of the pf dprks a into the portfolio and allowing us to if make the products. this is what is important. the customers are asking us for the products because they really see the foermens and when you think about the cloud
4:09 pm
infrastructure and then the driver they want the pow er performance that the joint product can deliver. it's driving us. >> talk about the data center opportunity that's in the $30 billion plus addressable market size i believe you said. what would this allow you to do that you could not do before. maybe like the facebooks and microsoft and googles that are building their own customer service. >> yeah, this is all about as i said you can take the workloads if it's a search or inkripgs and take that from what is running outside and out of memory or out of storage and put that into the silicon. you can get a performance out a low er cost than you could otherwise by putting these two
4:10 pm
products together in the same piece of silicon. and for the big cloud providers a two x performance is huge. it provides them with a competitive advantage. that's what fuels the cloud. >> now, you said that this is about future products mostly. you have got a big competitor and that has a big share of the programmable market. how is the combination going to help with the products verses the links and just the ones that they have right now and as they continue to intergrate upon. so not a lot changes in the near term. long term we believe that we will continue to drive moor's law and by intergrating the
4:11 pm
companies we can get the design ers to work more closely together. kind of the model that we use today with our ovenwn products. >> so process technology you're saying that the chips are going get better because they're going to be one generation better in terms of the process and technology and they're able to use verses the competition. >> that's right john. the performance is what really is that gets paid for. >> bryan, there's a debate going around about to what extent to companies should be buying back the stock or investing or buying other companies. today we see a vote for the latter in your case. going forward, how much should you expect verses other kinds of investments or buy backs? >> well we take a look and we have three priorities. first sin vest in the business. you want to really have for the shareholders an invest mth that gives them a future.
4:12 pm
a future set of products. after that is investing did i haveneds -- any time we do that we do a value on that and compare it to the advantage of the stock or giving the dividends and it has to pass. so we will always do that and we do that with every investment that i make. we make sure that it's positive and given the assumptions that we have. >> what about getting the right people on board? there's a big story on board about you be er and the development partner when it comatose driverless driverless cars. are we turning out of the universities? are you seeing a hinderens? >> you have to go to the
4:13 pm
sources. one of the advantages we play over 300 countries and we can go out and access all over the world. so no matter where i am at we're in constant search. sometimes you can hire it in the university and then acquire it. sometimes you can do theal president within. the data center and the big data are all being and driving demand for talented people. >> bryan, back to the question yet again. there are times when the intel has done a big buy and then intel is said we're going cool the heels for a bit and we're not going anything. you said that sometimes we go
4:14 pm
through the period that it's time to consolidate. if this is the period might you do more even if they're not of this size? >> you know, we always do a lot of things and the small er range. you will constantly the week does not go by or a couple of weeks do not go by with small er or $100 million aquisition, and we're getting the talent or the unique i p's. we continue do that and the properties that are unique. . this is certainly a big one, and we need to take the time and go through the process. i think that we will have -- >> understood bryan, thank your for joining us this afternoon. we appreciate it. >> my pleasure.
4:15 pm
>> the ceo of intel. john, what did you guys think? >> well you sounded clear. he did not say that he was pushing way from the table. maybe even a low bills and that's the time. i think when you have the intel signaling that and if you're in the space at all and touching you have to be thinking of what you need to be on the hunt for as well. >> well i seems like the pursuit was aggressive to say the let's. they are people saying is this a new style of deal making. they certainly did not want to let this company out of the sites. so interesting to see. >> does it make you more inclined, and you asked the right question and embedded was were you not better off to buy back the stock? to me that's more -- i think that they paid up and if you look up, there's declining. it's a declining business
4:16 pm
nontheless. if they wanted to make a huge splash, i would have gotten in and instead of trying to protect the birksz i would have made a play for a fire eye and got into a space and i think that's the most interesting space out there the cyber security space. >> this is something that intel knows that they can do. it's making the chips for them and when you have a facebook and google that can customize the own off errings and they can send a team and help you with that. that's important. >> pow erful stuff. thanks a lot. be sure to stick around and guy thank you very much. to catch more of guy coming up at 5:00. they're asking dennis the editor why energy stocks kw not get out of their own way. do not miss it. we have an earning and what can you tell us? >> well it's on the top or
4:17 pm
bottom and just a dollar a share. the performance was driven by the calvin klein brand. the revenue is $1.8 billion verses 1.86 billion. the aparl and footwear expecting 685 to 695 for a share per full year. that's higher than the street experts and then $500 million three year stock buy pack and after hours of trading and that's three percent of the everybodyings. >> morgan thank you so much. >> be sure to tune in and it's ceo manny chirico and target's brian. strides being made in cancer treatments. they need approval and up next we will talk to the kbaurd and
4:18 pm
south carolina senator graham announcing the can den si today. we will discuss and the strategy of fundraising coming up. you're watching cnbc first in business world wide.
4:19 pm
4:20 pm
4:21 pm
welcome back to the tide. now at the american oncology conference and caught up with the point man on this fight. meg. >> reporter: that's right. the bigs is the therapy and the drugs that work by the system and they're being developed by bristol myers and many many other companies. one of the focuses here is the use of bio markets and the signatures on the tumors and what patients will respond. we talked about that and take a listen. >> it really changes the risk benefit for a given population if one can identify a population for example of melanoma patients that instead of having a 30 percent rate have a 50 or 60 percent response rate. >> now, they say that the data
4:22 pm
are still in the early stages of being understood. there's some exciting data here and talking a lot in the drugs and colon cancer. we talked about the approval and the pathway that helped the speed the drug toss the market. the companies are using that a lot more and bristol got a new drug for the lung cancer and speed. take a look at what he said there. >> it's great er use of approval and primarily because the drugs are better, and there's an interest in getting the drugs out soon er to the american public. >> so some optism opt mission from the fda. that's some of the news here kelly, back over to you. >> meg, stay right there. i want to get some thoughts on the panel here. i wanted to talk about over the weekend getting the industry called it at it's own conference
4:23 pm
and replacing the drugs not where the value is, but where the market will give them. that sounds like it's higher than it should be. >> it's been a huge debate here. it's been talked about for years and a new side affects and just the burden of the health care system and patients is not covering this as well. as they're approved there's a fear that it's going overwhelm the system and cost over $100,000. what will that cost and then the ceo had an interesting thought of changing the models so you're paying for the combination for the con sir cancer and not just one. >> for the people watching this they should be careful of the war on cancer or the developments and evaluations of a lot of the stocks. >> when i was on the show when they announced the alzheimers
4:24 pm
and the stock went up by $10 billion in that day. there's a lot in the bio space right now. i would caution. i think that it's a great thing that's happening. i think the bio tech industry and the health care industry and pharmaceuticals have made process. >> and you have been invested in the other names. are you taking the chips off the table? >> well i have been. i look at the stocks and that's really alzheimers and ms opposed to cancer. that's up to $400 stock over the past 400 or 500 years. >> i will give you the last word op these companies to at the valuation of the drugs.
4:25 pm
>> the evaluation of the drugs or the companies are over heated? i did not understand the question. >> yeah, is it the case that when we see the pricing come down for the actual drugs that the evaluation of the companies could quickly follow suit? >> it's a question. it's been a pressure on shares but at the same time you know i saw this was front page of the business section, and it was a big thing of how much the drug cost. you have not seen at the valuations, and you have singled out. the stock sup today. there's question on when it comes to bare. >> that's a great point. great work as always. a lot of good work. governor mark joining the 2016 race to the white house and a form er governor came out screaming against wall street. what could come back and bite him. musk businesses have
4:26 pm
benefitted in the government and musk appearing on cnbc and that report is miss leading. depending the data and closing bell is back in two. can quickly become the only thing you think about. that's where at&t can help. with 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.
4:27 pm
4:28 pm
hillary clinton gets a run for her money and he is taking hard jabs at her and wall street. >> tell me how it is that not a
4:29 pm
single wall street ceo was convict ofd a crime relate today the 2008 economic melt down. how can you get pulled over in the country for having a broken taillight, but if you wreck the nations company, you're untouchable. >> it's the ceo and let the employees know that he would be just fine with either bush or clinton. i bet he would. well, i have news for the bullies of wall street the presidency is not a crown to be passed back and forth by you between two royal families. >> let's get some reaction now from form er executive of joe biden and gerard joins us.
4:30 pm
so this does not appeal to a broad er audience? >> yeah, what you heard resinates on the democratic side. you get the feeling that martin is going for a liz warren space there and i think that substancely there's nothing what you're saying. not to the bullies and name calling and animosity. i don't think that's necessarily the way to go. this idea that the so much of the economy has accrue to the top of the income scale, i am hearing that from republicans as well. >> i am surprised that diz not play out well. >> will i think there are two things that are true and one thing is that it takes a whole lot of money. i don't like it but that's the truth. the second is that we do have the concentrated wealth effort
4:31 pm
and while obama was able to raise a lot of money, it's not obvious to me that martin can do the same. he may looking to some high end done ers and that becomes a trickier needle to thread. >> evan. have you given them money? >> yeah i don't think so. the cheap populace turns me off. it's not my thing at all. if you're a politician you resort to easy things and that's what martin is doing. he is trying to carve out a name for himself and wall street bullies it's a new way of doing it. i actually broadly agree with those points. what i would much rather have a candidate say is the following. i think this is maybe how you do thread that needle. wall street in many way is not
4:32 pm
doing what they need to do. they're affectively allocating the capital the way that they should. there's too much by back and so on. the banks are just as big and interacted as they used to be. that's ifthe space that ayou run here. you talk about ways to help the idea and help the markets run more efficiently. >> now, that maybe a good point, but it's too many word farspoll situation to run out. let me give you the way that the capital market works. i find it ironic that martin that needed two ladies and gentlemen of the jury financial service companies to keep baltimore a float for many years. >> i they you're putting too much on the company. >> i don't think so. have you been to baltimore
4:33 pm
lately? >> my sister lives there. >> it's too easy to see that each one employees hundreds of thousands of people and lend to small businesses and home ordinary reasons and allow you to take out a credit card. a lot of the people are good ones. i think more -- preponderate obama learns the hard way and then it's the fat cats. >> well lem he was elected and i am not sure that the political announcement is correct. you're right about not being too worded. if you come out and say that i am for a financial trend access tax, that's going ding wall street. do you know what that's going do? dample the location and it's going increase the clarity. maybe it's a way to thread it
4:34 pm
for both sides of equation. >> before given your experience with the vice president, do you think that he is going bid for a president, o is that not where the heart is? >> well that's not where it is now. the future depends on hillary clinton. we have to see. >> okay. we will leave it there. thanks for being here. >> sure. >> time for an update with sue. hi sue. hi lynch refusing to answer questions on the fema corruption while in germany. she was given a speech and it was close to the media. she is expected to attend a meeting later this week. the sec announcing that the units of bank of america and lynch violated rules and agreed to pay $11 million to settle the case. funeral services being held for the family found brutally murdered in the home for washington dc and family and
4:35 pm
friends streamed into the you are which ch to pay the rptds and police have arrested the company in company and we're going reach 1 million follow ers and then the form er bruce jenner reached the 1 millionth follow er and beating the previous record. the president did it in four and a half hours rufly. that's the cnbc update. back to you kelly. the race to the cars is con tenuous. we will get the valleys and first e li has a cutting edge empire but not without the incentives and they have
4:36 pm
received $5 billion. they fired pack on cnbc and an editor depends the paper when we get back.
4:37 pm
friday night, buddy. you are gonna need a wingman. and with my cash back, you are money. forget him. my airline miles will take your game worldwide. what i'm really looking for is -- i got two words for you -- re-wards. ♪ ♪ there's got to be better cards than this. [ male announcer ] there's a better way with compare hundreds of cards from all the major banks to find the one that's right for you. it's simple. search, compare, and apply at first round's on me.
4:38 pm
telling cnbc that the
4:39 pm
reports have been built and miss leads asking unfair. phil is joining us with the details. hi. >> we heard from him a couple of hours ago and we reached out to him earlier in the day in response or get his response to an la times article and that times article said if you add up to government incentives et cetera, it totals about $4.9 billion so our question to mr. musk is what did you think of the article, and did you think that it was a fair article. here is what he had to say. >> the great thing is that if you add up the solar city they get historical and going forward, it's 1,000th of what the oil and gas industry get in a year. they could not have -- i mean if he was paid by the oil and gas industry, he would not have written a more article for them.
4:40 pm
>> and one of the specific complaint that is he has about the article is that it does not give the full credit to the jobs impact and the economic impact that he believes things like the factory will have in nevada once it's up and rung. although in the article they do talk about the 6,000 jobs that are added and the $1.3 billion in tax things and incentive from the state of nevada. clearly he was not happy about the tone of the article at all. >> he certainly was not phil thank you some. stay right there. joining us on the phone is bryan and he is a deputy business editor and bryan, thank you so much. welcome to the program. were you the editor on this? >> yeah we compiled the reporting for this story. i was delighted to come on and talk about it. >> thank you for being here.
4:41 pm
what did you think of the criticisms criticisms? >> i did not hear the criticisms. i heard a lot of mr. musk's opinions on what might have been addressed on the story. i am not here to defend the story, because it speaks for itself. one of the comments that he made is that he said that he kbolt a big $5 billion check wechlt laid out detailed fashion where all of the things came from there. there's a list on la that people can go and see. >> it's bryan. i have a question for you. federal and government governments off er tax breaks to reach or to achieve the policy ends. what's wrong with musk taking advantage on what is being off erred? is that in question?
4:42 pm
>> i don't know if it's wrong or right. you have go let the public debate if it's wrong or right. this was -- i am surprised that he had a reaction and that's merely factual and it paints the picture and he sis that the business strategy is the high risk and companies that promote green technology with the help of billions of dollar in government money. >> phil, ochoa did you make of musk's comments? he did seem to call the basis of the article implications into questions. why is he running away from the idea of what's what the company is doing? >> well i don't know that he is running away from it. i think that the points when he interviewed him he used the term misleading and two terms that he used. his feeling is that look if you
4:43 pm
look at the the incentives for the space x, and solar city and in particular solar city because there's an energy component there, the contention is that it's only through incentives that these companies are successful and what he is saying is that that article is misleading in that it's not taking into account the benefit that they maybe providing in the future. so from your perspective bryan, did you look at this and say okay maybe we need to do a little bit more in terms of laying out the analysis that's out there in terms of if the 6,000 jobs come with the jig factory, and if the economic impact is great as some hope that it will be. there's no proof and guarantee that it will be that. did you consider putting that into the article? >> it's in the article. >> i know the 6,000 jobs is in
4:44 pm
there. >> it say that is they plan to create 6,000 jobs and that nevada comes up with the estimate and that the factory could create $100 billion in the ult pagsd and there's a lot that dispute that figure. >> yes, there's no guarantee whether or not these come through. >> fair enough point. fair enough point. >> yeah thank you so much. >> we're going looech it there for now. let me ask is there anything about the article that you would change in light of anything that you have heard today?
4:45 pm
>> the only thing is not calling it cnbc after the hour. it's easier to do it on tv than an hour with a veteran print report er that wants to get the details. >> you're so right. thank you. for somebody that's been on both sides of it i appreciate it. >> thank you. >> he is having a today for us. uber is a major blow to the research department and the university and start up earlier this year to develop the def er car and after billions from investors they impose top talent and could uber tactics backfire? we're going get an executives take on that next. then the first target is enrique. the details are coming up on closing bell.
4:46 pm
4:47 pm
4:48 pm
uber under fire and the partnership was with june versety earlier in the year. they were working on driverless cars. the question is does anybody want to work with uber after the move? ceo of cheg and form er ceo of yahoo
4:49 pm
yahoo. welcome to the show. >> thank you. >> the question is not if other researchers want to work but what about other companies wanting to trust in the future? >> yeah i think this is a great thing for all of the players. i am not sure that i understand the negativity. there are three components and the facty thatulty that they did not touch and then the four profit group, and then there's a group in the middle that does profit work and they work at melon, so this is an opportunity for the institution to raise it's profile, apple works with them google works with them. they're the best in the world and considered the best in the world and good for these people and a free margret companymarket and company. you're going to see them working together and invest in pittsburgh. that's a great thing. an inflex of students wanting to go and inflex of professors that want to be associated.
4:50 pm
you're working with conjunction and it's a positive thing and not to be expected. >> okay. good to see you. i am wondering from the standpoint of name of any company here. at what point would you like at a hiring tactic and say there's something that smells funny about that? there's something untoward about that? >> well, anything that's deceptive is untoward right? i don't think we know the full set of facts and i think you're probably going to hear in the next week or two weeks that there's going to be an investment with uber and carnegie mellon to build institutes and invest in the very of pittsburgh and create more jobs. they take on a life of their own. i think the conversation starts at one place. then you see a better opportunity. i think anytime you do anything deceptive where the partner is unaware of it then i think that's probably untoward but i think carnegie mellon is one of the best institutions in the country. my understanding from talking to the people there is the timing of this may not have been ideal
4:51 pm
but it will continue to raise the profile of the institution, continue to help pittsburgh. i think you will see this turn out to be a positive thing, not a negative thing. >> dan, it's evan newmark. does this indicate that uber has too much money? did they raise too much money? this project is happening way out in the future and they go ahead and do something like this. shouldn't they worry about some stuff maybe nearer to home like not having as many drivers leave the service or something like that? >> yeah. it's a great question it's an interesting balance between, you know investing in what you're doing today and investing in the future. and the only crime they say in silicon valley is running out of money and that doesn't seem like a poub for ubroblem for uber right now. i think there's a balance and i know travis he's an extraordinarily smart, focused, committed person and my guess is they have the right number of people focused on the current business as well as some of these moon shots but i think google learned there's an interesting balance that you have to learn for yourself.
4:52 pm
>> and i think the future is here sooner than we realize. got to leave it there, dan, but thank you. appreciate it. >> thank you. >> he's the ceo of shag. >> you're going tech crazy today. you've really fallen hook line and sinker. >> some of the stuff that's happening out there with automated cars. >> i'm worried about you. >> i'm going to tell you more. >> you couldn't tip the pizza guy. >> wait until we talk about drones. imagine throwing away $200,000. that's what one california woman did and that story is heating up the web. those details with the hot list when we come right back.
4:53 pm
4:54 pm
4:55 pm
any day now the supreme court is expected to decide on a challenge to obamacare. the ruling could impact millions of people and millions of dollars. that's heating up the hot list and here with more is the site's managing editor allen wastler. >> as the supreme court gets closer to decide whether or not federal subsidies are constitutional, we're getting more information on the headlines. people are eating that one up. also forest research came out with a report saying retailers are blaming millennials a little bit too much for bad results. misallocating resources there, so that's getting a lot of attention. finally a mystery lady jumped off some junk at a recycling
4:56 pm
center. turns out an apple one was in there built by steve jobs and steve wozniak. it was sold for $200,000. the recycling center is looking for the mystery lady to give her a cut. >> enrique iglesias had fans literally seeing red at a concert in mexico. details after the break. the life behind it. ♪ those who have served our nation have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our members plan to stay for life.
4:57 pm
4:58 pm
4:59 pm
welcome back. earlier on the show we tried ordering a pizza from dominos by sending a pizza emoji and it didn't work. they found it was a credit card issue. turns out the profile wasn't complete which prevented initial charge from going through and then am ex declined the second attempt because it came so soon after the first one. that's a cautionary tale. >> still haven't justified stiffing the delivery boy. >> even if you use the -- you need the credit cards on board, too. >> that's true. we wanted to talk about enrique ig layous. he got attacked by a drone. >> apparently it had worked once before so he didn't know it was
5:00 pm
dangerous. he had a blood soaked hand then had to undergo reconstructive hand surgery to repair the injury. >> you better not be playing with drones at home. concerned about you with your new tech mania. >> that does it for us on closing bell. thank you so much. really appreciate it. time for "fast money" in just moments. actually melissa lee, straight over to you guys. skroop thank you kelly. live from the nasdaq market site overlooking times square this is "fast money." i'm melissa lee. traders are tim seymour, dan nathan nathan, karen finerman and guy adami. carson block of muddy waters will unveil what he called the latest pump and dump scheme. you will not want to miss this interview. plus, while executives are arguing over twitter, the stock has officially entered into a brutal death cross. we'll tell what you that means for investors and how you can profit. first to our top story and the potential reason why america's


info Stream Only

Uploaded by TV Archive on