Headlines on 2019-1-3

  • Bristol-Myers Squibb is buying Celgene in a $74 billion deal (BMY, CELG)

    Bristol-Myers Squibb has agreed to acquire Celgene, the drugmakers announced Thursday in a deal valued at $74 billion.  The deal will pay Celgene shareholders one BMS share and $50 cash for each Celgene share they own.  The deal combines a massive pharmaceutical company with a biotech giant, both of which have a big presence in cancer drug development.  Watch Celgene and BMS trade in real time.  In the first big pharma deal of the year, pharma giant Bristol-Myers Squibb has snapped up biotech...

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  • Apple's sweet talk about its $10.8 billion services business was totally undermined by Netflix (AAPL)

    Apple's stock crashed after it lowered its revenue forecast, blaming the Chinese economy and slowing iPhone sales. As a sweetener for Wall Street, CEO Tim Cook pointed to the $10.8 billion Apple makes from "services" such as the App Store, iCloud subscriptions, and Apple Music. Apple has long touted services as its new growth business. This would be more convincing if Netflix hadn't just undermined Apple by skirting the iTunes billing process. Spare a thought for Apple and its raging New Year's...

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  • New House speaker Nancy Pelosi says there is a possibility Mueller could indict Trump while he's still in office

    Nancy Pelosi said it is possible that Donald Trump could be indicted as part of Special Counsel Robert Mueller's investigation. Speaking to NBC's "Today" show, Pelosi said that Department of Justice guidelines that say a sitting president cannot be indicted are "not conclusive." She said that it is an "open" legal discussion whether Trump could be indicted while still in office. Nancy Pelosi said there is a possibility that special counsel Robert Mueller could indict President Donald Trump...

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  • Retired 4-star Gen. Stanley McChrystal explains how the realization the US was losing the Iraq War in 2004 led to the transformation of special operations

    Stanley McChrystal is a retired four-star general in the US Army who led America's Joint Special Operations Command and NATO forces in the War in Afghanistan. McChrystal led Joint Special Operations Command from 2003-2008, and assassinated Al Qaeda in Iraq leader Abu Musab al-Zarqawi in 2006. JSOC was initially outmatched by Zarqawi, but McChrystal responded by changing its hierarchy from a pyramid with him at the top to a web of teams with him at the center.  When Stanley McChrystal took over...

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  • Big asset managers like BlackRock are sitting on the sidelines of the $75 billion US marijuana industry because of one big pain point

    The world's largest asset managers are sitting on the sidelines of the marijuana industry in the US. Marijuana is illegal in the US at the federal level, meaning custodian banks are generally reluctant to clear stocks of marijuana companies that have US operations. That could change with the passage of the States Act, which securities lawyers say would give enough clarity about how the federal government would treat the nascent sector for banks and asset managers to do business. BlackRock, the...

    Business Insider
  • Introducing 'The Masked Singer,' Featuring Television's Hottest Peacock-Hippo Battle

    Fox's The Masked Singer, based on a South Korean show, is a little like American Idol — if all the contestants were celebrities hidden inside college mascot costumes.