gilead is interesting to me. and think back to the summer of '15, where everybody was falling all over themselves to do a deal at a disciplined good price and the market was super hot. they've gotten a lot of flack for not using that cash, and they're looking pretty smart now. so, you know, i think the guy deserves a pass. i know that the -- that hepatitis was a little weak. i mean, everyone thought it was going to be weak. so i don't think it was -- i like it, actually, right here. >> how do you feel comfortable buying anything in the space? i know pete said it yesterday and this was my pushback. you had bernie sanders, not even the top two candidates right now, talking about eli lily, tweet -- exactly, and took it down. >> and this is specifically about the pricing of humalog, and i talked on pow we shall lunch and i said did you ever think it would be in the cross-hairs of bernie sanders or anybody else railing against drug pricing and he said no. and that's just how maybe unpredictable this whole situation is

gilead first. >> a miss on earnings for gilead. they did beat on revenue in terms of earnings per share coming in at 2.70 versus estimates of 2.86 on revenue of 7.5 billion versus estimates of $7.45 billion. hepatitis c number coming in light versus estimates of closer to 3.7 billion. stock flat right now. digging through the release and will bring you more news. >> as mentioned just before at the end of last hour this is a company that put a lot of pressure in terms of the cash cow to do acquisitions. julian robertson weighing in last week. >> unfortunately, gilead this is not unfortunate. fortunate that they have a cure for hepatitis c. bad news is it is an expensive cure. that puts them in the cross hairs of washington, d.c. when you have that sort of thing going on and you have a valeant flipping upside down or even pfizer, some of the biggest of the bigs are having trouble right now. it's not -- these are problems that will be behind them rather than things that take them all the way down. >> can we talk about valeant? >> 33%.

gilead and bristol-myers. bristol-myers yields 3. i'm not going to say cut and run there although my charitable trust felt after that last good quarter, time. gilead, no yield versus bristol-myers. let's take this out and put g.e. in. let's take oracle out and let's put in -- you know what? we're going to have to put in -- let me just see. there's something from my charitable trust that i really just absolutely think that should be in there, and i'm putting in schlumberger because that oil company is down too much. wow, we didn't get to play that long, but thank you to all our contestants. stick with cramer. once upon a time in the depths of your own cupboard lived eco-friendly products waiting to be discovered. "that label's not green, it's purely just chic." then why is she using it week after week? they realized then, it's not the label that flatters, but the power inside is what truly matters. new tide purclean, 65% bio-based, 100% cleaning power of tide. "whatcha doin?" "just checking my free credit score at credit karma. "what

gilead and bristol-myers. bristol-myers yields 3. i'm not going to say cut and run there although my charitable trust felt after that last good quarter, time. gilead, no yield versus bristol-myers. let's take this out and put g.e. in. let's take oracle out and let's put in -- kn let me just see. bear with me. there's something from my charitable trust that i really just absolutely think that should be in there, and i'm putting in schlumberger because that oil company is down too much. wow, we didn't get to play that long, but thank you to all our contestants. stick with cramer. once upon a time in the depths of your own cupboard urclean. "that label's not green, it's purely just chic." then why is she using it week after week? they realized then, it's not the label that flatters, but the power inside is what truly matters. new tide purclean, 65% bio-based, 100% cleaning power of tide. "whatcha doin?" "just checking my free credit score at credit karma. "what the?" "don't you know that checking your credit score lowers it." "actually,

gilead and bristol-myers. i'm not going to say cut and run there although my charitable trust felt after that good quarter, time. gilead, no yield versus bristol-myers. let's take this out and put g.e. in. let's take oracle out and let's put in -- you know what? we're going to have to put in -- let me just see. bear with me. there's something from my charitable trust that i really just absolutely think that should be in there, and i'm putting in schlumberger because that oil company is down too much. wow, we didn't get to play that long, but thank you to all our contestants. stick with cramer. >>> eight straight down days. very unusual. i like to say there's always a. i like to say there's always a bull market somewhere. i promise to try and find it just for you right here on "mad money." i'm jim cramer, and i will see you tomorrow! - [george] takingn from concept to reality takes hard work. - [deanne] and a willingness to do it over and over again. - i've been at this, oh, for 16 years. - [george] but 98% of

after the close we'll get results from gilead sciences and electronic arts. >> we got bank of england to watch. mark carney will stay on until 2018. 2018 to 2021 and he went for 2019. >> 10% chance fed raises interest rates. statement has to be fairly benign. few days before an election. they are careful always to recognize seen as political. the question is what happens in december if they start to lay the ground work for ain't rate hike which there's a 70% chance they do. is it going to be a dovish hike or a hawkish hike? in other words raising interest rates and signalling there's more on the way we're in this mode or we've raised interest rates, we'll monitor the situation and that's why opinion corks for instance sees the dollar as already having made its move higher because they stay fed will not be in any rush to keep raising interest rates. utilities have popped. >> wouldn't it be fun if they did hike this week >> hike this week. that would be a shock. snowboard fun. >> big surprise in the markets. >>> stocks to watch today bp he's profit rose beating forecasts. the company is

gilead's third quarter profit fell. gilead is maintaining its full year guidance. >>> u.s. steel's third quarter results fell way short of forecast and the company is cutting its full year outlook. still planning to recover from unplanned outages. shares down 8.6%. zillow is reporting better than expected third quarter results. it has two-thirds of the web and mobile internet market. shares flat. >> valeant says it's in talks to sell its assets. reports have surfaced that japan's takata pharmaceuticals is interested. that could raise $10 million. there was a little bit of concern that salix is a core asset for valeant. they did pay more than 15 for the asset not too long ago. valeant continues needs to put out a road map for growth. >> and cash in. still to come the fear index we'll talk more about volatility and which investments historically do best in times of wild swings. stay tuned. you're watching "worldwide exchange" on cnbc. exchange". if you're just waking up let's get you up to speed. yesterday we saw declines linked to politics, polls getting closer to a threat o

gilead with $25 billion, and merck with $21 billion. according to evercore isi. but it's not all smooth-sailing. donald trump has also said he would repeal the affordable care act, which could create a lot of uncertainty for the future of health care in america. for "nightly business report," i'm meg tirrell. >>> and a bill later in our program, we'll take a closer look at what might happen next to the affordable care act. >>> dow component caterpillar along with other industrial stocks also performed well today on trump's pledge to invest heavily in bridges, roads, tunnels and other infrastructure. >> it's not just a deeply divided populus the new commander in chief will have to repair. infrastructure is on the agenda, as well. in his early morning victory speech, president-elect donald trump vowing to make it a priority. >> we are going to fix our inner cities, and rebuild our highways, bridges, tunnels, airports, schools, hospitals. we're going to rebuild our infrastructure. which will become, by the way, second to none. and we will put millions of our people

if you look back to gilead, of course, and hepatitis c, we saw all those discounts being given to pharmacy benefits managers in places with a lot of competition. we are already seeing the pricing battle happen. this happened last week with amgen earnings, and people worried about rheumatoid arthritis market. pricing hitting everyone from a political headline standpoint and from an actual business competition stand point. so analysts are trying to figure out, how do you play this. citi came out with a note today, looking at the top six biotechs and ranked them one through six in terms of best position in this price constrained environment. putting alex i don't know, celgene and regeneron, essentially looking at how dependent they are on price in order to grow. how exposed are they to cancer and orphan drugs. amgen with rheumatoid arthritis, very competitive environment. another note from suntrust, looking at historical election seasons, they have always been bad for biotech, on average, always declining into the election and on average coming out of the election, going up 15%. so suntrust t

your thoughts on gilead sciences? >> they have to do something, use some of their cash to buy somewhat because they have no growth. i cannot recommend that. it has no growth. how about we go to justin in massachusetts. justin? >> boo-yah, jim. love the show. love the show. i want to know more of your thoughts on california i prefer higher quality oil companies. i think the service company my charitable trust owns is a better bet now that the california resources move so much. i want to go to elijah in tennessee. >> good evening, jim. question on the frontier communications, is it a no-go or what? >> too risky for me. a red flag there. too risky. >> let's go to elvis in illinois. elvis? i want to hear your thoughts on devin energy. >> devin energy is fine, not as good as some others but i like devon. i need to go to ver nita in washington. >> hi, jim. first, thank you very much for the invida tip. >> wasn't it a good one? >> yep. i love it. i just bought dycom in time to drop? >> i have to find out whether i have to fi

your thoughts on gilead sciences? >> they have to do something, use some of their cash to buy somewhat because they have no growth. i cannot recommend that. it has no growth. how about we go to justin in massachusetts. justin? >> boo-yah, jim. love the show. love the show. i want to know more of your thoughts on kra california resources? >> this is a spinoff. i prefer higher quality oil companies. i think the service company my charitable trust owns is a better bet now that the california resources move so much. i want to go to elijah in tennessee. >> good evening, jim. question on the frontier communications, is it a no-go or what? >> too risky for me. a red flag there. too risky. >> let's go to elvis in illinois. elvis? >> boo-yah, professor. i want to hear your thoughts on devin energy. >> devin energy is fine, not as good as some others but i like devon. i need to go to ver nita in washington. >> hi, jim. first, thank you very much for the invida tip. >> wasn't it a good one? >> yep. i love it. i just bought dycom

>> they always say this, last year they said it was about amazon, about google, gilead. now it's this group. if you look at the group, the only one that's not rolling over is chevron. so it looks like they're reflectivity of what the overall market is doing. it's just the nature of the market. people go for large cap stocks, they go for names that they know. so is it a problem? it's always a problem. this is nothing different than it's always been. you have to think, is the market going higher or lower, act accordingly? i think short term it is lower. >> are any of these stocks worthy of leadership? i look at five stocks out of a 30-stock index and think, 20% of the index is doing okay, this is five diversified stocks. i've got health care, energy, industrial, tech. ibm doing a little bit better, that's a big surprise. there's nothing about this -- i think the fact that markets are moving down, we're looking for reasons to sum it all up and say there's more risk than there actually is. >> a lot of these are dogs, bouncing back. >> a lot of them have high dividend yields.

finally gilead you can see them up after hours. this is bloomberg ♪ >> i am scarlet fu, "what'd you miss?" it might be the day after halloween, but there are plenty of scary charts on china. -- ifief asia economist you look at just the revenue of these companies, it is just saw it -- shy of japan's gdp. gdp, almost what japan's bigger than germany's entire economy. with all this discussion about how china needs reform and they need to streamline it, cut workers, there are so many hundreds and thousands of jobs at stake. >> people might be underestimating this. manufacturing and consumption, there is a lot of employment and labor and money at stake. it came out last night at its strongest and highest levels since 2014. monthly year-over-year chart, it will be going back to the end of last year. it has been returning pretty nicely, now up 8.8%. it was going nicely with .ommodity rebounds an indication of animal spirits, but trying to get money out of china. a sign of the blood pumping through the waves of the global economy. >> i a

>> one that jumps out that we are sniffing around to build a bigger position is gilead. lots of cash. >> though they haven't made an acquisition? >> it's great that they haven't made an acquisition because valuations have come in. >> but their valuations come in as well. >> they'll be able to repatriate like a zillion dollars of cash if trump does what he says he's going to do. i think next year a good year for them. they have the ingredients there. we're just looking for the recipe. >> when you look at pharma and biotech, people were saying if you did get clinton it would be like '92 and stocks rallied hard from there. but you go back to the '90s and had big drugs coming out, viagra, vioxx, lipitor, there's no blockbuster come out. the only space that seems to have growth is oncology which is very crowded, alzheimer's has been a swamp for anyone who has gone there. do you see any real signs of growth, new products that will change the world? >> changing the world immediately, no. to your point about oncology, we've had a revolution in immunology -- >> totally crowded. >

hepatitis c, competition there, they were able to ring giant rebates out of gilead who hasn't raised the list price of their drugs since introducing them. your proposition says they don't. do you advocate get rid of the pbms all together? >> if you have a system where someone can set the price of where they want, there has to be a check within it. the pbms keep a significant portion. $15 out of every $100 of the list price drug goes into players within the system, middle men in the system, and not to the manufacturer. >> delta is short for change, right? >> exactly. >> there could be a change to the system, one thing you think could improve things, what would it be? >> i would say has to be two things at the same time. number one, the value assessment of a drug, the cost benefit has to move to the manufacturers primarily and number two, this is perhaps a bigger change, we got to see rx benefit. >> that's prescription benefit. >> exactly. choice and transparency to the consumer put into place. a consumer doesn't have choice about his benefit level right now. >> other countries don't h

biggest laggards allergan, mylan, gilead, the sector lost 3% year-to-date and second biggest sector out there so certainly paying attention. back to you. >> thank you very much, dom. president-elect donald trump busy working to fill high level administration positions this morning officially picking alabama senator jeff sessions for attorney general. michael flynn is his national security advisor, and kansas republican congressman mike pompeo as the director of the cia. meantime, with protests continuing, our next guest says to heal the divide a president trump needs to build something inspiring. joining us here at post nine pulitzer prize winning "new york times" columnist jim stewart. we were talking just during the break, you've gotten a lot of feedback already on this column which says let's do something big and bold and build, which is what of course he knows how to do. >> absolutely. this is what trump has said he does best and he has a track record there. somewhat to my surprise i've gotten this avalanche of responses. i think there is a tremendous hunger out there for something

gilead sciences is the biggest player in this market. they have three drugs while the other two each have one. they are reacting to the downside on that data. we look at gaming stocks in toys. activisiongamers, blizzard. both are lower. they released data for the month of october showing hardware sales around gaming felt 20% to about $215 million. this will not be a positive for these companies going into the holiday, or maybe consumers are taking a break. we have hasbro trading lower. get this. on something called the hatchimo. it is a toy inside of an egg. perhaps parents with small children know about this. it is the toy of a canadian company. is not a tweet hasbrouck that is down on the day, as is mattel. this craze for the hatchimo could be whining on hasbro and mattel. david: thank you for the market update. president obama blocking the selling of new drilling rights in the arctic -- atlantic. preceding as they prepare for transition for a new president. we reported on how the administration is trying to get you through rules limit

regeneron, amgen and gilead sciences -- the sentiment around drug pricing not surprisingly is really improving. another factor helping the stocks is what goldman is pointing to, some big m&a action. we see absolutely huge moves -- the overall sentiment extends over to big pharma. squibb,bristol-myers merck, drug pricing pressure, lessen,te is likely to helping these companies. while we have morgan stanley saying there's likely to be a relief rally -- we certainly have that today. continue?relief rally biotech -- big pharma etf. this etf has dropped below the uptrend. orange, the buying and the solid line representing support. we've seen relief rallies indicated by the yellow. with the big pharma sector below the uptrend, it may suggest that today's relief rally may prove to be that, in relief rally somewhat short-lived. mike: one of trump's closest supporters was on bloomberg daybreak today. jonathan ferro asked him to outline what we can expect from a trump presidency. >> the market will react to consistency. in order to get growth, pondicherry policy -- monetary policy and producti

after the close we hear from gilead sciences and electronic arts. >> did anybody go trick or treating. >> i saw you on instagram with tim armstrong. >> yeah. >> had a big costume going. >> where was that party. >> at thewaldorf-astoria. >> i don't know her personally. it's a charity event pup buy. >> did you hand out candy >> we were prepared so. >> nobody came to the house. >> a long windy scary -- since the houses are four, five acres away frech other. no we went to dinner. we left individuals at the door at home, a couple of german shepherds. >> did you leave candy at the door. >> honestly no one does come. it's not that there's a neighborhood where everybody goes. >> we just walked in the apartment building. >> can you go house house to. >> up and down. >> lots of candy. >> 16 floors of candy. >> father of the year award goes to a guy, i don't know if you saw this on an airplane. he had to take his 3-year-old daughter on the lean. he walks down the aisle and gives everybody candy and then she walks down the aisle. >> gets the candy back. >> the father walks on the plane, recreates