is that the place where he is going to put wynn resorts capital. >> talking about steve wynn buying and selling his own shares of the prish yens purchase he made of his own shares had. >> the wynn bottom. >> in 2015. >> the stock was in the 50s. >> it was in the high 50s then. >> to a. >> what did we think about him maybe selling shares now. >> if you loved getting in with him when he was buying shares by definition you start selling when he is selling my pushback would be he did that by choice then i don't know if he has a choice now. i think the shares are going higher and by the way, this is contessa's first time with us here. >> welcome to the "fast money" set. >> in person, and she did it on her birthday >> i know. on her birthday. happy birthday contessa. >> announced to everybody. >> quickly and when. >> all the charts look similar, ironically, but i think for wynn the worst is over. i would be a buyer with him selling it >> contessa, unk that happy birthday to you. >> final trade time. tim. >> diageo. >> i think if you look at guinness it is a company that's going to be position

wynn resorts listen i'm not commenting on steve wynn, i have no idea if he is guilty or innocent. frankly, for the sake of this, it doesn't matter. he just sold his stake in the firm wynn seeming to have removed themselves from mr. wynn which might be good might be bad i don't know it is an issue. what is an issue compelling valuation stock trades around 18 times forward earnings 20% eps growth rate. it is a potential takeout play everybody says it is a macau play not so fast. look at mccarron up 4%. the story here is what they are doing in las vegas aside from macau. obviously there has been bad news in the stock frankly in my opinion the story never changed. wynn is on solid footing jp morgan raised their price target to 205 or so. i think there is a good chance if the tape is benign you are going the see wynn resorts trade up to the levels we saw before this happened. >> mccarron airport stats? that's like going to tj max to look at under armour sales. >> in terms of what we are seeing now, steve wynn, how old was he and was he sooner or later going to step down did that play i

wynn's legacy is >> i think history is going to determine steve wynn's legacy. he clearly is the founder of modern day las vegas and was an integral leader, integral part and leader in the shaping of modern day las vegas. >> have other companies made offers to buy wynn resorts, either in whole or in part >> we have had no offers to buy wynn resorts >> would you entertain offers to buy wynn esorts? >> as a ceo of a fiduciary duty to entertain anything, but what i can tell you is we're not for sale, and there's been talked about making the company up. that makes no sense. to pursue strategic alternatives in a time when the narrative is not about the business is a mistake. so what i'm doing is i'm getting everybody focused again on what it is that we do we build places that are fun and that produce the best returns in the business >> so there are still a lot of challenges to producing the best results in the business. namely, a slew of shareholder lawsuits among the biggest, oregon and new york state suing the board over the breach of fiduciary responsibility there

i do not because at some point in time, steve wynn was probably going to step away. he wasn't necessarily going to sell his shares but he was going to step away i think you just wonder at what point in their careers will they bob igor, that comes up every time we talk about disney. everybody always looks at somebody's age and say how much longer will they do this i would have thought at some point steve wynn would probably say you know what, maybe a year or two, that's it. obviously there is a succession plan in place that will be stepping in. and the game plan's already there. they have the blueprint for what's going forward from here for the next five years for wynn i'm not disappointed in the fact that the stock is trading up as a matter of fact, i like it a loch lot. i think it will go higher from here >> are you surprised by mgm and las vegas sands they have not traded better on the belief they have gained market share because of the headlines we are hearing with wynn? >> yeah. you know, i think the reality is they are not going to gain the market share as you k

the settlemen could clear a path for steve wynn, the company's biggest shareholder and formerrm ch to sell part of his stake in the.can. the new ceo says the deal allows him to focus on the future. >> it was taking the air out of room. d so when i looked at it, i thought, buying back 24 million shares of stock at $78 financed to the 6% interest rate is great for our shareholders. so just make that deal and be done. >> steve wynn of course resigned from thee company founded last month amid allegations of sexual misconduct against employees. >>> martin shkreli, the former farm suitcal executive who became known asas pharma bro w sentenced to seven years in prison for defrauding investors. meg terrell is athe courthouse brooklyn. >>> a federal judge has sentenced martin shkreli to seven years in prison for on his conviction of three counts of securities fraud and conspiracy to commit securities fraud. that stence will include credit for the time he has already served in prison, about si months already. he will also have to pay a o5,000 fine and be subject to three years probation after h

they allegations against steve wynn first surfaced w. a -- with a new ceo at the helm, mike khouw has something you want to hear. >> options really spiked when they gapped lower on that news they are still well above average. second thing we are trying to do is capture some of the up side finally we want to avoid some of the risk of further downside after we saw this news come out -- we will look at how the stock behaved, we can actually see what is going on here. as you alluded to, obviously this is when the news took place. stock fell back sharply. now we have recovered a decent bit of what it lost. essentially if you get in and you start buying a stock right here and we get more bad news, we kind of get a sense of where that bad news is going to lead you. so the trade-up i'm looking at here is the 170, 190, 210 call reversals. buy the 190 calls, 790 and take in elevations options premium, telling the 170 puts for 255. and as you can take a look on this chart, that essentially represents where the downside risk is in my view on more ba

if you take a look at shares of wynn, the stock regained most of its losses against steve wynn first surfaced with the new ceo at the helm if you're looking to roll the dice, mike has a way taskew the odds in your favor. take it away. >> we'll look at a call spread risk this is a trade that we're going to want to look at when options elevated are premiumed it spiked when they gapped lower on that news they are still well above average. the second thing we're trying to do here is we're trying to capture some of the upside, but, finally, we also want to avoid some of the risk of further downside after we saw this news come out and we'll take a look at how the stock behaved. we can see what's going on here. as you alluded to, this is when the news took place. stocks fell very sharply and now we recovered a decent bit of what it lost essentially, if you get in and you start buying the stock right here and you get more bad news, we have a sense of where that bad news will lead to. right around the 170 level the trade i'm taking a look at doing here is the 170, 190, 210 call spread risk re

. >>> wynn resorts, there are reports surfacing that steve wynn may sell his entire stake in the company contessa brewer joins us now what's the big news in. >> steve wynn and his ex-wife elaine wynn are throwing in their hands for to a business agreement that kept them bound after their divorce was granted. it kept them from selling their shares without permission of others last week owe cad ka okada's coy settled with wynn resorts, and yesterday a judge ordered the deal dissolved between the two wynns they own roughly 21% stake in the company. a massive selloff could make the company a target for takeover. i sat down with matt maddux one week ago today for an interview. >> have other companies made offers to buy wynn resorts either in whole or in part >> we had no offers. >> would you entertain offers to buy wynn resorts >> i have a fiduciary duty to entertain nothing. burr we're not for sale. breaking up the company makes no sense. to pursue strategic alternatives when the narrative is not about the business is a mistake. >> when i asked when they might consider changing the name of w

resorts, okay it's called wynn resorts the company's face was steve woo wynn it wasn't mr. maddox, with all due respect to him you know, the shares are up because people want the liabilities kind of swept under the bridge so it could be fixed up for sale. >> they want wynn himself to sell - >> fblg, of course again, this is just interpreting for -- >> yeah, wall street is looking at the shortest path between where they are now and realizing more value for it. they're going to hope, perhaps, for a sale or partial sale doesn't mean it's going to happen right away. >> contessa, thank you great interview. >>> here's a look at how we finished on wall street today. it was higher by more than 1.5% across the board second best day of the year for dow and s&p, third best day of the year for nasdaq. >>> it's time for our news update with sue herera. >> hello again, everyone flanked by family members of students who were killed in the parkland high school shooting, florida's governor, rick scott, signed a $400 million school safety bill which places new restrictions on guns he said th

. >>> still ahead, cashing out steve wynn selling his entire stake in wynn resorts. a check on that stock reaction ahead. >>> and nike getting a nice pop on earnings. >>> first here's all the international markets in a correction that 10% pullback. spain, germany, uk, japan, switzerland all down more than 10% from their recent highs. woel have much more on this ob market selloff when "worldwide exchange" returns how do they find the time? with audible. audible has the world's largest selection of audiobooks. books like peak performance... and endurance. books that energize and inspire for just $14.95 a month. less than you'd pay for the hardcover. with audible, you get a credit-a-month... good for any audiobook. if you don't like, exchange it at any time. no questions asked. you can also roll your credits to the next month if you don't use them. audible members use the free mobile app... to listen anytime, anywhere. on the go... or in the car. the audible app automatically keeps your place. no bookmarks required. so you'll pick up right where you left off, even if yo

." >>> a nevada judge ruled a stockholder agreement involving steve wynn and his wife is invalid. wynn's wife was granted half of the ownership in his country as part of the divorce. she sued in to 16 to regain control of her shares after she was voted off the border. >>> southeastern grocers who owned win dixie is filed for bankruptcy. 95 stores will be closed as the company restructures. this is southeastern's third bankruptcy filing since 2005. southeastern will continue to operate over 580 stores. >>> and our u.s. tater tot fans, 7-eleven h has a new feature i some o of its storeses. they have a tater bar, you can even top your tots with ranch dressing. anne-marie. >> some fine late night cuisine. diane king hall at the new york stock exchange. thank you so much, diane. >> thank you. >> still to come, something new for hot yoga lovers. why some classes are using infrared heat while you're doing your downward-facing dog. like an "unjection™". xeljanz xr. a once daily pill for adults with moderate to severe ra for whom methotrexate did not work well. xeljanz xr can reduce pain

. >> steve wynn is a seller. >> but there are sellers and many people lined up on the buy side i'm not too worries about it we know it will play out and i still think the sock goes higher there is a plan in place that goes out deep into 2020. that is the part that i think everybody is like -- well steve wynn is gone he was probably going to be gone at that point any way and step down so i like wynn. >> i'm just looking at a tweet from melissa lee you know melissa lee she hosts a 5:00 show. >> she does a nice job that and "power lunch." >> mr. wynn intends to sell all or a portion of the common stock controlled by him and if he elects to sell he will seek to conduct such sales in an orderly fashion. >> right which is why this stock is going higher >> i don't know. >> we'll keep an eye on it >> all right >> tho, judge. thor industries bought it during the show. >> delta it is going into the green southwest won't hurt it. >> long energy xle. >> thank you melissa lee and "power lunch" starts now >> indeed it does. thank you very much. you are looking at a very snowy federal reserve. the te

they allegations against steve wynn first surfaced w. a -- with a new ceo at the helm, mike khouw has something you want to hear. >> options really spiked when they gapped lower on that news they are still well above average. second thing we are trying to do is capture some of the up side finally we want to avoid some of the risk of further downside after we saw this news come out -- we will look at how the stock behaved. we can see what is going on here as you alluded to, obviously this is when the news took place. stock fell back sharply. now we have recovered a decent ed bit of what it lost. if you come into the stock right here and get more bad news we have a sense of where that is going to lead to right around the 170 level the trade i'm looking at doing here is the 170, 190, 210 call spread risk reversal buy the 190 calls, 790 and take in elevations options premium, telling the 170 puts for 255. and as you look at this chart that essentially represents where the downside risk is in my view on more bad news although i don't think ex

and: steve wynn has sold his shares in wynn resorts, cutting ties. aswas forced to step down ceo last month as he fight allegations of sexual misconduct . separately, when resorts fell shares to-- sold more galaxy, giving the competing operator an estimated 5% stake in the company. paul singer has won around in his battle at telecom italia. that is as the chairman and six directors backed by bollore are quitting the board. -- promisingame more than one month of wrangling between the french billionaire. he wants to keep the company together and the new york-based hedge fund manager is pushing to break it up. deutsche bank has raised about one point billion -- 1.4 billion dollars from its asset management division as john cryan works to complete his turnaround plan. the bank sold shares at 32.5 euros each. that is a 22 point 15% stake in deed of u.s. compared to the maximum 25% shareholding that deutsche bank want to the south. the price values deep get u.s. at 6.5 billion euros and the shares trade today. its asset management ceo joins us after 9:00 a

galaxy steps in. 5% as steve and by wynn is selling all of his stake. this is arguably good news all around. it probably answers some existential questions for the company about macau. regulators were concerned over there. david: they started an investigation. you assume the licensing in macau. what about the broader prospects for increasing? jason: we don't know what galaxies plan is. it also raises the question of where does the company go from here? this was a lane wins divorce proceeding. she was really active in the creation of the resort in las vegas. she was active in the management of the company. julia: edelman people understand that. you know them both very well. david: she hired a lot of those people. she was very active in the business. be interesting to see what her role is going forward. people have stepped out financially. brand that aside from the recent turmoil is a very strong brand. one of the things that galaxy is interested in is the vip element. julia: that is very much. byron allen is the buyer. has grand ambitions for a media emp

guy: i want to mention the fact that steve wynn, is breaking related to wynn resorts, steve wynn cutting his stake in wynn resorts to 7.8%. we are getting a further break in that relationship coming through, and we will have market reaction later on. the market is a discounting mechanism. it is hard to understand how you discount a trade war, how you price it in. do the havens have a greater premium and this process? mi buying a few more yen in the margin? when do i discount this into my portfolio? ebrahim: at this stage, the haven movements are not as obvious as we may have seen in other times, partly because one, the most obvious haven, the u.s., is intimately involved in these situations, and similarly japan, is also potentially affected from the chinese angle and through other more wide and extension of trade is desperate extensive trade issues. -- invested -- extensive trade issues. the focus is on what specific companies and countries could be affected so it is more of a micro story than macro. guy: why am i not seeing a big move in bowing this morning? can the markets not get its

aboutwhat about headlines steve wynn's the berkshire? -- departure? concerns,there were how would the company go on? their increasing dividend to 50%. that has eased investor concerns. since the sexual harassment allegation when he stepped down, they are now recovered. down 1% since that. investors taking this in stride. also another measure, not direct correlation but i wanted to show home value of las vegas as a measure of demand. people coming to the city, the shooting was horrific, but i wouldn't count las vegas out just yet. vegas still hanging in the. hanging in there. vonnie: let's get back to markets as volatility comes back. editor for global television is joined by a key voice. >> we are joined by a very special guest. is the ceo of wells fargo asset management. nice to see you. >> thanks so much. >> we have been in a really, interesting time in global markets over the past couple months. volatility coming back into the mix. as you talk to clients and your team, what do you make of this? howard investors feeling? -- how are investors feeling

into allegations of sexual misconduct by former ceo steve wynn in the first investor presentation since wynn's r resignation last month, they will be bringing on new members. wynn is up 4% today. a decent move. caesars entertainment swinging to a fourth quarter profit results were helped by gain from the new u.s. tax law the casino operator has also benefited from the emergence of one of its biggest yunes from bankru bankruptcy >>> costco helped in part by the new tax law, but they faced increased competition from walmart and amazon it's down 1% we're just getting started on "worldwide exchange. still ahead, firing back europe and china out with warnings over a potential trade war. live reports from brussels and beijing. and caught in the cross hairs. the u.s. states that could get hit the hardest if we enter a full blown trade war that analysis mi ucongp on "worldwide exchange. but i'm not standing still... and with godaddy, i've made my ideas real. ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪ >> you can't be unilateral in these

former wynn resorts ceo steve wynn has sold his entire stake in the casino operator he sold 1/3 of his stock wednesday. he sold all the rest of it yesterday. he resigned in early february after allegations of sexual misconduct which he has denied stock is up by 2 1/3%. u.s. air line passenger traffic rose by 3.4% last year to a record high. the transportation department says 965 million passengers flew in 2017. the carrier with the most passengers, southwest airlines with 157.7 million people. delta was second at 145.6 million. two days after the federal reserve raised interest rates, investors will have more fed commentary to try and digest today. atlanta fed president rafael boss stick, and rob cap lain and minneapolis fed president neech ca neil cash kari has speaking engagements. you'll see that the futures are under pressure if you've been watching, at one point we have the dow futures down by over 200 points. the dow futures are down by 95 points coming after that decline of more than 700 points yesterday. s&p futures off by 10.5 and the nasdaq is down by 52 if you take a look at

universal entertainment, this would end a six-year dispute between steve wynn and his former associate it stems from allegations that ocado violated u.s. anti-corruption laws coming up later today, contessa brewer will have an interview with wynn resort's new ceo, matt maddox. >>> dennis muhlenberg says the company has the cash horsepower to make targeted acquisitions. he also says boeing is in talks with embriere. >>> tesla says its accounting chief left the company for personal reasons he joined tesla in 2016 after working at sun power tesla down 1.4%. >>> we're just getting started on "worldwide exchange." still ahead, we're talking trade. president trump slapping new tariffs on steel and aluminum imports with some carve-outs we have global reaction straight ahead and we're counting down to the jobs report. the key numbers to watch out for. "wlddexcng bk orwi ehae"acin a couple minutes but i'm not standing still... and with godaddy, i've made my ideas real. ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪ dawn is serving up dinne

number one, they have steve wynn as finance chairman. >> i will say we aren't showing this part but some voters i spoke to are frustrated with the amount of money spent on this election because it is only ten months. then vote again in november. >> sounds like georgia. >> exactly. a lot more of this conversation coming up. who comes up on top? i went to pennsylvania it talk to trump supporters about tuesday's special congressional election. that's coming up. do you feel like a vote for, aside from some people like jason, a vote for saccone is a vote for trump? >> absolutely. >> and a vote for lamb is a vote against trump? >> absolutely. stay with me, mr. parker. when a critical patient is far from the hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders connect with medical teams in near real time... stay with me, mr. parker. ...saving time when it matters most. stay with me, mrs. parker. that's the power of and. the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain...

company now that steve wynn stopped down from his operating role in the wake of the admittedly disturbing sexual misconduct allegations wynn resources is a formal company, but because of mr. wynn's behavior, the stock is more than 20 points off its highs. i think it is a natural takeover target for las vegas sands or mgm. it doesn't rally 10 bucks in one session for nothing. we even got a rally, oh, my god, talk about broad-based, airline stocks the airlines, something that hasn't happened for ages what ignited it, not the bad weather causing flights to be canceled right and left. traffic in february was up 3.5%, capacity increased by 1% we have been worried that the airlines would add too many new planes and get up to another ruinous price war like we're used to from this industry that's the story of what's happened so anytime we see the potential for boost in revenues without lots of new planes coming on, well, i got to tell you, that's nirvana. the strength here helped give the transports a needed boost, which is heartening, especially at a time when housing and the automakers, more on

wynn's shop there, one of the other deputy finance chairman is michael cohen, president's personal lawyer, now known for the porn star payment scandal. how are you doing staying out of the trump scandals, rnc. another deputy finance chairman mr. broidy has just taken a hard turn into the robert mueller investigation. a few days ago we learned that mueller and the prosecutors now have a cooperating witness named george nader, adviser to the government of the united arab emirates. mueller is interested because they're investigating, quote, the influence of foreign money on trump's political activities. mueller's prosecutors have reportedly asked witnesses about the possibility that george nader funneled money from the united arab emirates into president trump's political efforts. it is illegal to facilitate foreign money in u.s. politics. it is illegal for the american to facilitate that. so mueller is reportedly looking into this issue using the cooperating witness, george nader, who turns out to be in business with elliott broidy, the same guy reportedly offering to get rid of the justice

elaine wynn is trying to have the ability to sell her shares without steve wynn's approval. some say this clears the way for the company to sell itself. julia: great work with that. the trade war with china would likely weigh on tech and industrials. we have the charts you can't miss. this is bloomberg. ♪ the anniversary of the bull market. we saw the bottom on a closing basis march 9, 2009. the ninth anniversary of the bull market. you might be surprised by the group that has done the best. consumer discretionary. it ain't tech. take is up there as well. in. looks at the groups consumer discretionary is in blue. technology is gaining. it is interesting because they had been the leader in the prior crisisrket pre-financial but you have to dig into this a little bit. discretionary,r we are not just talking stuff that you buy. netflix is the best performer in that discretionary index. ultra beauty as well. wyndham worldwide. and amazon is on that list as well. julia: tech is one of the sectors i'm looking at. what about the prospects of a trade war with china? prices. import

wynn's shop there, one of the other deputy finance chairman is michael cohen, president's personal lawyer, now known for the porn star payment scandal. how are you doing staying out of the trump scandals, rnc. now mr. broidy took a turn into the robert mueller investigation. his prosecutors now have a cooperating witness named george nader, adviser to the government of the uae. mueller is interested because they're investigating, quote, the influence of foreign money on trump's political activities. mueller's prosecutors have reportedly asked witnesses about the possibility that george nader funneled money from the united arab emirates into president trump's political efforts. it is illegal to facilitate that. mueller is looking into that issue using this cooperating witness, george nader, who turns out to be in business with elliott broidy, the guy who has reportedly been offering to get rid of the justice department's malaysia investigation for a $75 million fee to him and his wife. the guy who is a new york state pension fund bribery felon, this magnificent specimen of civic-mindedness

wynn. that is a business flash update. joe: coming up, what you need to know for the week ahead. this is bloomberg. ♪ scarlet: u.s. stocks rallied on the final trading day -- i would want to say rallied in the close, but for the year to date s&p andter to date the dow fell and the nasdaq extended its winning streak on a quarterly basis. joe: if you look at your end and in the quarter returns. up, globalming markets including the u.s. closes tomorrow for good friday and what european markets are closed easter monday along with hong kong, new zealand, and australia. i suspectmic data, president trump will be interested. lisa: and the job report comes out. scarlet: that does it for what you miss. joe: have a great evening and weekend. weekend. this is bloomber retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent

shery: steve when plans to sell steve wynn plans to sell his entire state in his resort chain. that the tampa bay makes wy -- that potentially makes wynn resorts vulnerable to take over. board will seek approval on an unprecedented 10 figure award of stock options. , musk plan is accepted could eventually bend up with -- eventually end up with more than $50 billion. the european union has given its bayer's deal with monsanto. that is your business flash update. vonnie: still ahead, facebook the kleins continue to pressure the markets, especially the nasdaq 100. at the a deeper look trade on this bearish chart next. this is bloomberg. ♪ ♪ watching "bloomberg markets." today we are taking a look at the nasdaq 100. here is the intraday chart. we see earlier today, down the fact thatte facebook is down for a third day in a row, shedding more than 10%. an important question is whether or not the overhang of uncertainty facing the social media giant spreads to the trade as a whole or even tech more broadly. let's look first at the technicals on the thing trade -- on the fang. thi

steve wynn and his wife are ending their fight over when resort shares. the couple, which control 21% of the company, say that they no longer consider an agreement filed in 2010 to be valid. that frees them to sell their shares in the casino chain after a war for control the stocks. aine's accusation led to his downfall and recognition. that is your bloomberg business flash update. julie: we wanted to bring you an update on the pedestrian bridge collapse in florida. a press conference with the details is ongoing. the bridge was a new bridge built across a highway, just unveiled on saturday and it collapsed at a miami area college, florida international university. they crushed 8 vehicles underneath the massive slabs, killing multiple people, but we do not yet have the details on exactly how many fatalities related to this. we know that 8 people were taken to local hospitals. this is bloomberg. ♪ >> coming up, don't miss this, e university of michigan sentiment index comes out omorrow at 10:00 a.m. eastern. >> then more knick u.s. housing out.s be >> the

a look at macau casino stocks after steve wynn sold his remaining state. galaxy snapped up some of those shares, giving it a 5% stake, positioning galaxy as a potential suitor should it ever be put up for sale. the stocks under pressure. be onetoday turns out to of those days when the mainland markets tracked the sentiment going on across the rest of the asian markets. shanghai down 3.4%. the shanghai composite seeing losses close to 4%. let's take a look at whether this will be sustained on the markets. cliff tan from bank of tokyo mitsubishi joining us now from hong kong. does it surprise you how surprised the markets seem to be given these trade tantrums or trade tensions have been well flagged. >> it does not surprise me. this is the equity killer to coin a phrase. most of us don't really poorly understand why trump is doing this, except that navarro seems to have become the trade whisperer to him. thee would like to kill stock market rally he has been posting about for the last 9-10 months, this is a good way to do it. previously you a long many strat

steve wynn cutting has is taken the company he founded after settling a court battle with his ex-wife. he sold more than 4 million shares exploration and production. at $180 a piece. and his holdings went down the list and a percent. his former wife as an eight -- 9.3% stake. and they are looking at a takeover of the company. yvonne: facebook is in crisis mode, mark zuckerberg summoned by congress and a-shares falling. we will take a look at the data fallout, next. this is bloomberg. ♪ >> this is "daybreak asia." betty: i'm betty liu in new york. mark zuckerberg is being summoned to capitol hill, having failed to satisfy that critics in the data scandal. he says he will take steps to make sure it does not happen again. >> this was a major breach of trust. and i am really sorry this happened. we have a visit responsibility to protect people's data and if we cannot do that then we do not deserve to have the opportunity to serve people. betty: was that going to be enough? i want to bring in our digital content net ceo jason kim. did you watch the interview? >> i did. yvonne: was it eno

let's start with steve wynn. big news this morning. he is selling 33% of his company. >> at least and he may get out fully. he has filed to sell some or all of his holdings. this is tied to accusations of impropriety that were initially kicked off through his divorce settlement with his wife elaine. that snowballed a bit earlier this year. now when it really means is this company may be in play. alix: doesn't make it more likely that it is both? the macau aspect is valuable. >> this is highly valuable. largely because of the macau angle. the question now becomes does caesars take a look at it? it is up for debate who may sleep in. now of course, private equity. has playedity someone successfully, often times not so, in the casino space, through caesars specifically. what seems to be a pretty attractive asset. david: we have seen steve would go in and out before. alix: this time it's different because it is the me too movement. of our stories, the financial fallout from the me too movement and the weinstein company is no exception. gold

with started as the acrimonious falling out with steve wynn and his business partners, some more to watch here. meantime, a hawkish tweet on thursday, as mario draghi remain cautious of the inflation outlook. global economics and policy advisor kathleen hays is back with a review of the bank of japan policy decisions. tariff tensions and the possibility weighing on the boj. kathleen: i think it is a question of any big central bank, with the ecb meeting on thursday. ofy did drop their pledge up boosting bond buying, and the doves of the ecb are trying to placate the hawks. i think what has the headlines that caught the attention at the press conference, when mario draghi was asked about tray tensions on the ecb, here is what he said. >> disputes should be resolved in a multilateral framework. unilateral decisions are dangerous. certain worry a or concern about the state of international relations, because, if you put tariffs against what are your allies, one wonders who the enemies are. kathleen: who will be the enemy? ecbng the conclusion -- the listing bias is gone but tightening. yvonn

. >> from some liability i'm thinking of steve wynn, who is out but a massive shareholder in wynn. >> and another interesting distinction -- >> they say he may sell a lot or all of his shares, but he could certainly influence the company with the stake the size he has >> absolutely. and it's interesting, one thing i have been kind of wondering about is the stock price for tronc. you know, it's down marginally today. it was down marginally yesterday when the news came out it could be just because he owns such a large proportion of the company, but i'm curious why investors aren't selling their shares when they see news like this come out. >> the difference between him and wynn is wynn was viewed as this visionary in vegas and the creator of this -- perhaps to a greater extent to a much greater extent than this guy and his control of, you know, newspapers who are struggling regardless. >> he was not making the distinction by the allegations between employees of wynn and others as asserted here >> yeah, exactly >> leslie, thank you let's get to sue herera. let's make a right turn and go

. >>> the normaler ceo steve wynn did step down as krceo. the filing says he may sell some or all of his. >> he has been a buyer of his stock. people might say when he sells maybe it's time to sell. >> did have a nice run >> yeah. >> a nice cost basis dow is up 108. pretty solid range barney frank is with us. stocks up nearly 3%. we'll have an exclusive in a few moments. >>> good frida

steve wynn is long gone he and his ex-wife can sell their

and steve wynn has sold about a third of his stake in wynn resorts for about $180 a share he now owns about 8% of the casino operator that he founded. shares of wynn resorts down more than 2% in today's big selloff and down 6% for the week >> we begin as we often do in washington where president trump just signed new tariffs on china aimed at theft of intellectual property kayla tausche is live at the white house. >> reporter: it is the president's widest ranging trade action yet targeting some 1300 product lines currently being imported from china. the u.s. trade representative has initiated a report that it says the economic harm to the u.s. of unfair trade practices on intellectual property is in the range of $50 billion so it plans to try to recoup some of that cost with these tariffs. the president speaking just a few moments ago said his estimates were higher. >> in particular with china, we'll be doing a section 301 trade action it could be about $60 billion. but that is really just a fraction of what we're talking about. >> reporter: here is how the process will roll out. the

wynn, who has, of course, subsequently resigned shares looking about a third percent higher in after market trading. back over to you >> all right, leslie, thank you. >>> we are just past 4:30 on the east coast here, and stocks finished well off the lows today with the dow down 82 points, had been down 350, the other big story, if you didn't hear, the weather, here's the weather channel's alex wallace >> another winter storm to deal with across the northeast, dumping snow closer to the coast than the previous one did, a number of areas under winter weather alerts, warnings, in fact, in the cities from new york, phillie, boston, sliding up portland, maine, bangor as well this is the area where the snow is coming down, creating headaches for sure in fact, let's go through it here as we work on through the rest of day. getting into the evening, new york seeing snow, long island back into boston, continuing through new england through the overnight hours into thursday morning. we got several more hours of having to deal with the snow, and no doubt, will be adding up through your evening

surged to a record 6.3 million in january wynn resorts former ceo steve wynn may sell all or a portion of the stake in the company. he's the largest shareholder owning nearly 12% of the company. >> and apple says it will hold an event focused on education on march 27th that event will be held at a chicago high school. the company wants to hear creative new ideas for teachers and students >>> tyler, over to you >> thank you we begin this hour in washington where we're minutes away from the friday press briefing with press secretary sarah huckabee sanders. chatter still running wild about another west wing shakeup to come, and eamon javers has been filtering the rumors and the scuttlebutt for us on the north lawn hi, eamon. >> hi, a really unsettled feeling here at the white house today. aides reported for work this morning, a number texting me saying they're not sure if one or a number of senior administration officials would be fired today so far, no news in that department and i talked to one aide a short while ago who said that everything feels chill so far today. so there is a sense

it looks like steve wynn will get some severance. wynn boosted revenue by 50% which means an extra $12 million for wynn. it was said that he would not after allegations that he pressured employees for sex. francine: as tensions over the whiteil over in house the european union is setting up options for retaliation. ongeting 2.8 billion euros u.s. goods including motorcycles and u.s. whiskey. here's the french deputy finance minister joining me. thank you, deputy minister, for joining us. what can europe actually do? no winners in the trade war. long-term, everyone will lose. europe due to can defend themselves? delphine: we have to discuss. the european commission has proposed concrete steps. we are ready to discuss them. when you look at the european central bank and italian elections where do you see the main concern for france? delphine: i think the main concern for france at the moment is the trade war issue. it withoing to address our partners in europe. role can france play in all of this? do the italian elections and the uphea

steve wynn may sell his stake in wynn resorts, they agreed to pay $2.6 billion to universal interchange went. a lot of scrutiny by regulators featuring sexual misconduct allegations putting them under pressure to settle this. shares are up over the last year. general motors may have to fork over some money, possibly $1 billion in stock, revisiting a deal that would address claims from a technician -- ignition switch crisis. deal being discussed on the table gm would contribute to a trust set up for creditors. 2.6 million older cars recalled after the flaws were discovered leading to stalled engines, disabled airbags into the crashes. they paid out billions in a defendant linked to 124 deaths. shares are up to present over the last year. elsewhere in the car world, the end of an era, volkswagen getting rid of the beetle. the little compact car will not be replaced when the current model and production. servers everywhere crying. maria: o.j. simpson in his own words, the lost tapes revealing what the former football star believes, quote, might have happened the night nicole brown simpson

steve wynn is now allowed to share his 12% stake in wynn resorts. he could sell part of it or all of it. there was a shareholder agreement that banned him from doing that before. now he is free to sell all or part if he wishes. the stock is at 185. it had plunged on the initial revelation. >>> now this, i heart media is filing for bankruptcy. they have more than 850 radio stations t has $10 billion worth of outstanding debt. fewer people listening to the radio, so we're told. that hurts revenue from advertisements. >>> there is report of a surge in uncompanied minors crossing the border. the numbers had been going down. we're asking border patrol union president brandon judd what is going on. >>> president trump welcomes the president of ireland to the white house. if he makes any comments you will hear them here. you're watching second hour of "varney & company." ♪ but i'm not standing still... and with godaddy, i've made my ideas real. ♪ ♪ i made my own way, now it's time to make yours. ♪ ♪ everything is working, working, just like it sh

. >> steve, thank you. we sit here throwing things out into the ether you answer our questions we appreciate it >> that's nice let's tell you guys about other business news, steve wynn told some of his stakes in wynn resorts. >> that lowers his take to 7.8 from 11.8. his ex-wife elaine is now the largest shareholder. she has a 9.3% stake wynn resigned last month amid allegations that he subjected women employees to unwanted advances he has denied those accusations. when we come back this morning, mark zuckerberg says, sorry. >> this was a major breach of trust and i'm really sorry that this happened. >> after that massive data scandal. we will talk about what's ahead for the social media company with a man who wrote a book on facebook the author of "move fast and break things." he will join us. by the way, check out shares of facebook down another twond a a quarter percent today. (daniel jacob) for every hour that you're idling in your car, you're sending about half a gallon of gasoline up in the air. that

founder steve wynn selling 1/3 of his stake in the company worth about $739 million. that is a big sale. he is taking the overall stock down 2%. >>> boeing and caterpillar, two of the biggest losers among the dow 30. why are they such big losers? because there is a threat of a trade war if we impose those tariffs on china, as we will do a couple of hours from now. boeing down six bucks. >>> back to the overall markets, jonathan golub, credit suisse chief equity strategist is with us now. all right, jonathan, i am going to confront you. >> okay. stuart: in my opinion, looking at recent market action i feel this market just wants to go down. >> does it right now feel ill at ease? maybe i think but i do think we're overreacting to this threat of trade war and some other headlines. reality we'll probably not end up in a full-blown trade war. this is the way trump is negotiating these things. and i think that the market probably in a month or two from now will realize, worst case outcomes didn't play out. we're left with a very good economy. stuart: well, look, i think you

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and sold more than 4 million shares at $180, lowering his holdings in wynn resorts. his former wife as a nine .3% stake. want those will begin its first direct flight from australia to europe on saturday, cutting travel time. the london flight is a test that qantas hopes will spend the world i 2020. joining us now is a professor at sydney. i cringe at the thought of 17 hours in a cabin. is is a game changer? >> it is a very exciting moment because, it is the first time these two economies are connected nonstop. is really not a lot when you think about how long it took -- not long ago, seven stops and days to get from london to australia. now you can do that overnight. it is also very excited because of the increment they are using, which is innovative. and comfortable if you sit in. cabins. onave tested that equipment on route, and also tested it a flight that the norwegians operate. i flew on premium business and it was amazing. it is very comfortable and it helps with the jet lag. haidi: and more efficient. it is really nice because you don't have that uncertainty