Discovery Communications (DISCA) says it will buy Scripps Networks (SSP) . It's a $14.6 billion dollar deal, $90 a share. Scripps owns The Food Network, HGTV and others. Discovery owns The Discovery Channel, TLC and Animal Planet. General John Kelly will be sworn into his new job as White House Chief of Staff. He replaces Reince Preibus who resigned last week. It is hopes that Kelly will bring order to the administration. He also takes over as North Korea tested another Intercontinental Ballistic Missile over the weekend and Russia is retaliating, cutting U.S. diplomats, over sanctions imposed by the United States. Lowe's (LOW) swung to a profit in the recent quarter. The home improvement retailer reported a profit of $231 million versus a loss of $65 million a year ago. Home improvements retailers have, so far, been Amazon-proof and have benefited from a recovering housing market.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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