craig melvin: that's all for this edition of "dateline." i'm craig melvin. thank you for watching. good morning and welcome to "street signs. these are your headlines an adjusted ebita drops 30% in the fourth quarter and oil prices and weaker refining merges vestas catches a second wind with the ceo telling cnbc the

firming is working to clear its backlog. >> we are executing on things that are not fulfilling our ebita targets, and it should be helping us toward the double digit ebitas. >> shares diverge after the biggest home builder reached past its rival for more than a half billion pounds. and snap plunges an extended trade, sinking over 30% on the fourth quarter weak guidance with a warning that the conflict in the middle east is creating headwindwinds.

. well, is another massive day for company earnings over here in europe. we're halfway through the season in the u.s. and getting to similar levels in europe as well, but i'm going to kick off with a couple of stocks we're watching totalenergies is down almost 1%, this after posting a 31% drop of net income to $5.2 billion in the fourth quarter with lower oil prices and tighter margins hitting the company. the company also proposed a dividend of just over three euros per share up 7.1% on the year but those weaker refining prospects hitting the stock this morning comparing it to yesterday with bp that was up almost 6%. it is a divergence whence it comes to both of these oil and gas companies. elsewhere siemens energy swung back to a net profit in the first quarter due to one-off

gains in the sale of a subsidiary to siemens. the turbine maker also revealed a record order backlog of 118 billion euros. the german group says it does not expect any change to fix quality issues at its unit, a story we have talked about at length now speaking to cnbc, the cfo maria ferraro stressed the quality issues are the group's top priority. >> we need to fix the main issue. like i said, we're doing it step by step. but we also indicated that we expected this, let's say, truf in orders. one, we halted the sale of our 4 x and 5 x turbines as a result of this quality investigation or procedures that are going at this point, so that's fully expected but ploocing at the othe businesses, you erie fully right. our technology business had an almost unprecedented business. the other businesses are

progressing well in all of their areas. this is due in part to our products and solutions and what we're doing for our customers but also in continuing that market momentum, that very positive market momentum that's contributed to the solid fiscal start to the year. >> let's talk about orsted the company has plans to cancel products, cut its investments, and pause dividends for three years. it comes as a post-hitting net loss in the fourth quarter happened this, as you can see, is how orsted has faired over the summer a big drop toward the end of the summer last year you can sew the outlook even for this year is not so pretty as well quite cautious when it comes to 2024 and what they're guiding to and in a similar vein vesta reached profits up from a loss of 480 million a year ago. the world's biggest turbine

maker was boosted by a record order in take and forecast 2024 revenue despite geopolitical risk now speaking to cnbc this morning vesta's ceo said the company is still feeling the lag from covid >> it still holds us back toward our 10% target so that's, of course, what we're working dill gently through. a lot has changed since the days of complete lockdown in '20 and '2 '21, and, of course, the testament to that was the fourth quarter where we took in excess of 8 eco watts we're not fulfilling our targets and we're puttingering in the backlog that are absolutely

helping us toward the detarget of double-digit ebits. one more, teamviewer beat expectations they guided revenue between 660 and 685 millioneers this year. it's up from 626 million in 2023 so the reaction is also pretty positive let's switch over to what has happened to european markets what we saw yesterday were modest gains for wall street of course, we're keeping a close eye on the banking sector, regal banks coming to the fore in the u.s. a better handover from shanghai composite, once more a bit of support coming through from those markets and what we're seeing overall as those indices are leaning. you can see the losses

xetra dax is down. here we're seeing a solid performance out of automaker stellantisand renault putting in in good favor and then foottse 100, we're dow bit. we spoke about homebuilders in general. there is a bit of divergence, of course, with the big deal going through with barrett developments arabile is going to tell us more later on in the show. this is what we have in terms of leadership. auto is leading at the top food and bev up 0.8% telco's down half a percent. health care also lagging down half a percent as well. let me switch to the macro

because we got some interesting commentary overnight ecb's board member has warned lower barring costs based on expectations of rate cuts, risk flaring up recent data shows the last mile may be the most difficult one on inflation while cautioning against any imminent change to the central bank's policy stance. and it's not just ecb commentary loretta mester says the fed will start lowering rates as the economy moves forward as expected but declined to give a timeline mester said she's content where monetary policy stands and says it allows officials to gather more evidence as to whether the decline and inflation is sustainable. they're a voting member this year. mixed bag after moderate gains yesterday. s&p basically seen around the flat line. dow slightly more positive

and then the nasdaq down about one point as well. the billionaire investser believed investors have been too optimistic about the number of rate cuts coming from the fed this year, telling cnbc he expects two or three, also weighing on the current dynamics. >> if you look at market cycles and say what's your bear market, they're declining, with a decline average around 25% and last for better than aor yoo by that definition, 93% of the stocks have been through a bear market. let's bring in our next guest. it's wonderful to have you i think a good place to start is the commentary we've gotten out of speakers in the last few days i would say just listening to what powell has said over the last couple of months, i get the sense they do want to start

cutting rates but they just don't have the justification to do it because the data has been coming in so long. >> when is the question mark. >> when is the question, yeah. >> last time i was here before christmas we were talking, and i said three cuts may just be enough and risk equities doesn't necessarily leeds to six cuts. i think his intention is to go in summer but slowly 25 each, maybe june, one in september. yesterday was quite important. i think they're trying to make sure they cut right around the fed. so right around june would be great. i checked the screens before i came in. it's already kind of working so some news april cuts pricing us for the market is down 13 basis points, so lower than 50%. >> so you raise a very interesting point is that it has

ple had that much of a multiple impact on risk sentiment surprising that stockmarkets continue to do quite well. when we spoke last time, there were five or six price cuts placed in. with the pricing of the first rate cut happening in march, stockmarkets have done okay, which tells me the focus is on miicro and what's happening with the earnings season. >> and the big ai story, it's working. the rating is on february 21st if they get the right results, that's going to affect things nicely as well it famously calls for 5100 there was a great call last year look, i'm a little surprised as well cnbc last night was reminding us we didn't have a 3% rolldown for almost three months. we're almost due one bears are incredibly frustrated.

but as long as the earnings story is behind us, i think it can continue to be bought. >> it's a cliche, but good news is back to being big news again. what do you think is going to be the big thing? >> the root of you show, discussed your show, splice sight is leading at the moment we argued for a long time covid was a big factor, the sad ee vengts in ukraine and prices going up the roof. once those subsided, we didn't have an inflation and it continues to go down now wages, they make a comeback. after they are gone, good inflation start going higher if markets start getting that famous moment, ie, central bank cuts, they have to hike again because of inflation, that would

really give us a nasty storm, but that's not my base case at all. >> it explains also why the central banking community are being so cautious at this point. many of them have said the final mile is going to be more difficult. on fixed income the last time we spoke, i've interviewed loads of people, analysts toward the end of the year, beginning of japan, and everyone was seemingly long duration or wanting to get long duration fixed income has been a tricky trade this year. how do you think positioning is and what do you think? >> great question. so let's again analyze both our hedge funds and real money real money has -- international money has been made dominant we had quite a rally in the last three months things were going their way until that blockbuster nfl, central bank's pushing back. so clearly painstaking for them as you acknowledged as they continue to rise the rates by the way, in the last two days, they're not doing so

either it's becoming quite resilient for the hedge funds, it's the big trade, big buzz word so days like friday afternoon, not good those don't make people too happy, but these things are very flexible the moment you get more noise from new york, maybe new york community bank, maybe regional banks, they can rally again and then that will trade boater. >> let me ask you. we had tl comments overnight lagarde herself has been quite communicative over the last month. do you think there's a trade to be done in europe because both central banks are sounding pretty cautious on the potential for rate cuts. certainly if i had to make an argument, i could make a big e argument for ecb to start cutting rates for the fed right now. there's certainly more rationale for them to do it. what are people saying about who

goes first and is there an opportunity that's not priced in the market saying where the currency is trading? >> they may end up going just six days first if they stay to june, it's a week before, but at the moment, there's a little pessimism on europe related to china as well. that doesn't help the european situation. germany, what happens with regard to russia and energy, china and their exports. and also fed, fed needing to cut possibly at the end of the less than ecb a lot of the great ones. also noting by chart, there's greater sensitivity for america. even if they cut at the same time, say june, they may end up cutting less it may be different for them because of that, people are again starting to pile in a little more to short euro trade or to long dollar trade.

but be careful, that double mean they won't sell off. >> the trade is back super quick one. we have just in the last couple of days seen stabilization come through on chinese equities. i know we're heading into the lunar new year does it matter that they're stabilizing or is that a separate world that people are not focused on right now >> it doesn't matter too much pessimism, i understand why, obviously, but i find it a bit too much it reminds me of last year when everybody was buller in china. it turned o it the other way around maybe this time they're come back in the second half of the year. >> we'll have to bring you back in the second half. >> with pleasure. >> thank you so much for joining me on the show today the vice chair from deutsche bank also coming up, i previewed it earlier tel telenor's earnings with a breakdown.

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lines. barratt development says it will buy rival redrow it values it at a 7% premium to today's closing price. arabile has more on this story what's the justification for this deal going ahead? >> they seem to be pointing to more houses to be bold particularly this year going forward and they believe they can do it together as two entities and necessarily separately they're conducting a plan that would combine the business at the end of this deal with barrbarrat holding the rest barratt saying it expects to deliver total home completion between 13.5 and 14,000 in the

fourth year of fiscal year 2024. it could realize pretax cost synergies of about 19 pounds while this deal is happening, while they haven't said anything with regard to job cuts or any job losses or even a reorganization of staff and how that woruld impact things, that would look at that up around 14% for barratt up 11%. you can see growth has been quite sig candle for redrow as well year to date. a deal is set to bring in more houses as they put out results. >> also looking at the data out of the kk, there are two reasons they're doing quite well.

now, telenor fourth quarter profit has come in broadly in light with expectations. the norwegian operator says it expects low digit organic sales growth in services for the first time this year i'm happy to say the ceo joins me good morn to you, sir. let me start off by asking how the quarter and the year went. in your comments earlier you said you are pleased that you continue to deliver growth what has been driving that growth >> thank you for the question. i'm pleased with the strong quarter and strong year. it's the strongest fourth quarter we've had in the last ten years. what i'm pleased with, it's 5% mobile growth we see across the nordics. you see it in a row.

i see it continue to bring down costs with the informational program that we have, and i do see that our agenda is also moving on growth coming back from bangladesh but also with the realignment of our asian portfolio. so all together, very pleased with the quarter we also see going to this year, we see that we'll continue with a mid-single ebita growth in the nordex and in the group as well. i think we're positioned to capture the growth coming out from our revenues but also the security services, and we continue to benefit -- get benefit. >> let me pick up on the guidance front i see you ended the year with telenor nordex and the growth respectively, but then you're

guiding to low single-didn't organic sales growth and service in the nordex. it sounds to me that you're being slightly cautious given the momentum you've seen in the fourth quarter. >> yeah. what i can say is we've had very good growth last year, and to grow on top of good growth is something to see on top of that, we do see inflation coming down now, and we are a little bit cautious when it comes to how big an opportunity you see as we continue our price increases last year we increased prices in all our markets. we did it for more concept where we gave ourcustomers more data or some new products security products is something that our commerce really are valuing. so going forward, we will continue with that concept, but it's a little bit more cautious around how inflation is going to develop in the no nordex.

so that's the reason for the guidance. >> interesting, interesting. i know you spoke to my colleague at length, karen, at davos you talked about artificial intelligence, which is a major theme across so many sectors let me bring that question back to you and ask you what you were doing to equip your networks to make them ready for the ai era that we're entering into. >> ai is not new to us we've been working with advance analytics and traditional ai if i can use that term for the last six, seven years, and they do that across our portfolio already, everything from personalized offers to our customers to energy reduction of our networks to automated services in our finest functions. so it's a broad portfolio on current ai incentives.

we are now investing to see how that can help us going forward this is a part of the transformation we're doing on the network side, but also in services i just came back from u.s. myself to discuss opportunities here that we could do together with partners. telenor has a scale both being the leading nordic player. so there is interest to work together with us on this this is definitely something we're looking at both on efficiency part but also to see how ai can be a part of new services and growing our revenues going forward. >> one thing that stood out to me is also you've got a whole paragraph devoted to the need for increased security measures. i thought it was interesting that you thought about centimeter groups gaining access to new toolboxes that create increased unpredictability

you're saying in 2023 telenor stopped 283 million fraud calls globally this applies a lot of pressure to businesses like yours do you think this could be one of the deciding factors between which companies will end up being more successful versus the rest in that security, cyber threat has become a majjor business and how you deal with it will lead a path going forward? >> i think in the last quarter, we actually stopped 304 attempts in int alone. this is due to our security filters. we have security filters as a default in all of our packages to our mobile customers but also to people in other interbased services and in addition to that we have more advanced security projects. we do see that our customers

really value this, and we see this as a growth potential because we call it services evolved connectivity it's the data packages that they're selling and we put into these services into packages when we are moving up also the price level for more concepts. so this is a growth area for us, and we do see the position we have in norway, but also across the nordex gives us a great opportunity to further advance the services. >> so interesting. really great to talk to you. thank you so much for taking the time out to talk to me also coming up on "street signs," we're going to be speaking to bosch ceo stefan hartung. usthot ms at that's coming up we'll be right back.

welcome back to the show i'm joumanna bercetche and these are your headlines ebita drops 30% after lower oil

prices and weaker refining markets. vestas catches a second wind as fourth quarter profits beats estimates with the ceo telling cnbc the firm is working to clear its backlog. >> we are executing on things that are not fulfilling our ebita targets and we're putting all of that in the backlogs that are absolutely helping us toward the detarget of double-digit ebits. shares diverge with that announcement, uk property stocks in early trade. and snap plunges in extended trades, sinking over 30% on a weaker guidance with a warning the conflict in the middle east is creating headwinds.

a slightly better handover to wall street we saw a bounceback for fixed income, remember having a brutal couple of days from yields and, of course, the hawkish comments from powell over the weekend did not help we saw some of that turnaround yesterday in trading handover from trading markets, shanghai composite once more heading into the green as we headwind into the lunar new year as you see in europe, the overall picture is somewhat mixed. we have many of these indices now looking like they're trading in the red, slightly negative in the earlile hours of trading of course, we've been digesting so many company report cards coming through very close to all-time highs down to about 0.2% we talked about this earlier on the top you're seeing bmw

having a good day and siemens energy the market is reacting well to it the cac karon trading. ftse 100 with the barratt going through and creating some headlines. one of the drivers in that as for foreign exchange, this is how currencies are trading up. not a lot of movement. the dollars are slipping versus the euro and the pound the pound is trading about 0.3% versus the u.s. dollar, europe, about a tenn'th of a per selkt. the swiss franc, we're seeing some transpire there's still a lot to get through.

akzonnobel is on the rise as they cite hyperinflation. and monte dei paschi proposes a dividend 2 years before planned it's a sharp increase from 156 million euros a year ago net income rose to just over 6 million. so quite a turn around for monte dei paschi there were a lot of consolidation rumors swirling around it. at the end of the day, a new ceo came in and restructured the company and the results are quite telling and the reaction as well. now bosch has a target to

reach an increase of 1% to 7% in the next two years it does not expect the demand for consumer goods to rebond before 2025. good morning to you, sir you sound pretty hawkish especially with that margin guidance give us an idea where some of those headwindwinds are coming from and how the year is going to diff from what we know is a challenging year >> 2023 was challenging, but we had a solid outcome in the end we got this 8% growth before currency normally with currency, which is 4%, which shows one of the struggles we're heading for, and ebit margin was 5% where we wanted to be with a positive cash flow. so '23 was a solid year for us

'24, we're quite cautious because '24 will see many effects coming in all sectors to a less prominent growth situation, so much less forward driving from the market and all the power to grow has to come from us ourselves, and that means some of the effects we saw in '23 will not come again for example, industry will slow down the energy and building sector will not transform as quickly. automotive will grow much less, and the consumer business, which leads to construction will grow slower in '24 or not grow. we have to see that. so there's uncertainty for sure going forward. that's why we have to shift the guidance. >> i know your mobility unit, the business sector, is a big focus and a big driver for growth in the coming years, and a lot of that is on the back of the adaptation of the automotive industry let me ask you how you see the

outlook for the automotive industry here. we talk about a lot of of headwd and the race to electrification where many are saying european automakers are behind u.s. and china. >> well, the automotive industry came back nicely in 2023 you saw quite a lot of growth in europe, saw recovery on the backlog and bringing it back up to speed on the production chain. in '24, we'll see much less growth in total worldwide. we'll see someshifts you'll see the consuming of cars and china will not be as large growing, but there will be an export growth. overall the market will not grow that much. that means everybody wants to win shares on the car side itself they need to push away some of the other companies. that will sure come to some fights in the markets there. for us, it's the technology

factors. the new technologies are coming step by step into the market and some of these launches or vehicles with new technology have people spawned and are a bit slower in 2024 it's annette here in fran frankfurt. let me ask you about the heat pump business because clearly last year it was half of that, but all of a sudden it seems that demand is not strong enough so where do we stand, and how much is that residential real estate crisis or real estate situation across europe also responsible for that situation >> well, it's linked to a new construction, but only some. most of it is renovation that's pretty much the situation worldwide. and now the question is how smoothly will it grow the demands on the heat pumps for building renovation because it's a deed yum process you have to

go through in each building and it takes time. now, regulation plays a big role now. that happened last year. we're heavy in the european markets and their e escalation last year got to a debt line approach and led to buys they usual trying to push old technology like gas and oil or came to the struggle of fulfilling the demand. but this year our regulation has changed again, specifically also in germany and we will see there's a bit off and then hopefully the second half of the year recovery overall the year will not billion as it is in '23 on the heat pump side. >> let me bring you to the macrolevel as well and to the question how germany is investing and doing business because there's so much talk there needs to be company, tax reforms, energy reform so what is the most pressing

reform you would like to see as one of the biggest germany companies? >> well, for sure, germany is a good place to be for certain energies but there is some places where things have to be changed. it starts with the education center, the infrastructure, tech problems have to be solved and the energy problem has to be solved where the energy prices will be. therefore the goal is to show rejijty in its way and what to implement it, when it will be effective because that's inferencing the investment climate going forward as a place to be and as a place cl is capable of hosting of semiconductor factories and other good manufacturing sites as well as services. germany has a lot of specters, but a refurbishing plan has to come. >> let me broaden it out

i know europe and north america were bright spots for you last year do you expect that to continue in 2024, and also a question about south america. i know you had some headwinds there. do you expect those to have subsided for the rest of the year. >> there's also hope in south america, so i hope this is subsided we had some elections going through. there's some changes that now happens. let's see how that unfolds in the consumer markets as well as the automotive side. for sure the u.s. is on quite a hot economy. we'll have to see how it plays out with the soft landing. then this would be a very good prospect going forward that's why we overinvest in the north american markets including mexico and canada. yes, europe, we have to see how things unfold in this year for sure, germany will have a struggle to get some growth in the overall economy, but there is still opportunity, and that's the key thing for a company like us technology with a wave of ai going through our businesses as well as new technology, we bring

it to the car business as well as the home appliance business it has the potential to catch more customers, and if it's not happening in 2024, by the way, there's a more optimistic view in '25 and '26. >> very clear. a pleasure to have you on the show today good luck with the rest of the year a story we spoke about extensively yesterday, italy's lower house has approved a capital markets bill that aims to simplify the listing process in milan and change how the boards of listed companies are appointed. despite international investors and political poejt ts arguing that markets would find the proposal hard to digest, steering off for investment, the bill did pass by 135 to 1. so overwhelmingly positive the final green light from the senate is expected later this month. also coming up on "street signs," we're going to look at a pivotal set of earnings for

disney as they look at the investor nelson peltz. we'll be right back. every stage of your business. with fast and secure payment. card readers you can rely on. and one place to manage it all. whatever the stage, businesses that grow grow with shopify.

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welcome back to "street signs. shares in new york community bancorp plunged 22% on tuesday, sinking to their lowest level since 1997 after moody's investser services slashed the credit grade to junk the ratings agency cited financial management and risk management issues adding that the bank does not have enough reserves to cover potential loan losses it was triggered last week when the legendser posted a quarterly loss and cut its dividends and the premarket picture today is not pretty either looks like stock is down earlier this morning nycb responded to the downgrade saying it has total liquidity of $37 billion, which it says exceeds its uninsured deposits with its coverage ratio. the ceo said moody's downgrade

is not expected to have material impact on its contractual arrangements. and elsewhere, ai has sent microsoft shares sharply higher. speaking exclusively to cnbc, he outlines his views on the future of technology. >> a lot has happened since last year i was excited about the prospect of what ai could mean. i was very stunned even at that point seeing how some of the leading model work done was diffusing in india and even something like the public sector, right? that was the first time i saw that coupled with gdp. it was like, really, like a drop the mic moment we come back a year after and we're no longer talking about ai some of the use cases i talked about this morning, i saw from customers, commercial customers, nonprofit organizations. i think this is the fastest rate

of diffusion of anything new i've ever seen and to your point why is this excitement because i think it's tangible changing economic productivity, whether it icy for software development, front line work in retail and health care, whether it's access for a citizen or, say, a new immigrant to the urban area in india to be able to access services i've not seen a technology like this that can have that broad of impact that's where the skrieexcitement comes from. traders are looking aheadwind to alibaba's earnings with the company expected to post a drop in third quarter profit despite a 6% rise in revenue. it's the company's first set of results since its underwent investments last year.

and snap is sinking more than 30% after the bell despite an eps beat, but revenue disappointed coming in at $1.6 billion. that's almost 5% higher on the year but slightly below the forecast that's quite the drop in premarket trading, down more than 30%. elsewhere we're looking ahead to disney's first quarter results. investors will be closely watching the streaming business and the cost-cutting plans as it prepares to face activist investor nelson peltz in april i'm happy to say ben woods joins me good morning to you. it is a pretty fraught time for disney with cost-cutting pressures. we talk about profitability issues and, of course, nelson pelgts looming in the background, wanting that board seechlt let me ask you about the future of the streaming business, disney+. is disney doing the right things to become profitable in their

streaming business >> look, i mean disney is facing a pretty tough economic land landscape. they've got situation whereby the they've got to try to get more consumers through the door, but consumers don't have as much money in their back pockets as they used to have because of the increasing prices, plus disney has had to increase prices so this is all a difficult balancing act for disney to face when it's trying to become profitable, but, you know, in media, we believe -- we think disney are taking the right approach here with this announcement that we saw around bundling with rival services because this is actually an opportunity now to offer value to consumers who may have been thinking about cutting down from three or four streaming services because they simply can't afford them any longer. >> let me ask you more about

that if you think about profitability, one way they could also raise profitability is by increasing prices. why do you think that bundling is a better option >> well, look. the reason that bundling is a better option is because raising sort of prices on an individual streaming service, if all the streaming services do that, its becomes pretty costly, especially compared to where the streaming landscape goes whet netflix first came on the scene. obviously it's not going to be neil as expensive as pay tpaid tv what you can do is go to consumers and say, look, we can give you three or four streaming services bundled together as a discounted price, and actually the smart thing with the likes of disney, warner, and fox should be thinking about is how they can retain those

subscribers over longer periods. so what we at media would advise is not to try and sign them up on a monthly basis, but try to get some of these consumers and viewers to commit to longer term contracts, perhaps six to 12 months so they can manage it more easily. >> that makes sense. you've got to lock them in as we talked about. i started off this segment talking about some of the pressure on disney on the cost-cutting side of things. but at the same time there's pressure to deliver on content how does bob iger manage that, to keep costs under control, but at the same time continue to invest in the product to be able to compete with the likes of netflix? >> sure. that's the real challenge that they've got to grapple with here disney has a lot to lean on. some of those like marvel have started to show a little bit of

it they need to think of ways to refresh the ip to make it feel new and engaging to consumers and i would saline on those parts of the ip that's the most successful for them. think about the classic disney blockbusters that we've seen in the past around the likes of "the lion king"s, the snow whites of this world we want to see more of those, i think. i think that's what consumers really like from disney. the difficult they have, they're also grappling with inflation around producing these big blockbusters and with the hole strikes, and so it's tricky. so disney does have a good catalog of i pi. it does think to think a little more creatively how to edge

gauge with consumers around that now. >> you talk about that backlog i'll tell you in the bercetche household we're trying to keep that catalog going with espn and the driver business, how profitable is that going to be? >> well, live sports is a great retention driver for streaming businesses we at media would say, you know, any streaming services that can afford to buy live sports or bundle with a service that's got live sport would be a really good opportunities and prove really valuable. the reason big is live sport's a different beast from tv shows and movies live sports fans are quite used to committing over longer periods for content. they know they're going to get that guaranteed live sports content every single week. they know how the sporting calendar is going to play out and paid ttv's sort of educated

view is to pay for live sports over longer periods. so it's really crucial they need to be doing everything they can to make sure live sports packages pave the way and these live sports packages do that. >> thank you so much for joining us ben woods, video analyst from media research we'll be hearing from disney ceo bob iger today a quick last look at european markets it's a mixed picture across the board. u.s. futures looking like it's going to be a mixed session. but that is it for today's show. i'm joumanna bercetche "worldwide exchange" is coming up next. i'm andrea, founder of a boutique handbag brand - andi - and this is why i switched to shopify. it's the challenges that we don't expect, like a site going down or the checkout wouldn't work.

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headquarters and here's your "five @ 5." we start with cut the junk the stock is sinking to its lowest level in 30 years. also a sports super streamer, disney joining forces with warner brothers to create an all-new platform and what's being seen as a massive industry power play. and snap sinks shares of the social network plunking ahead of the open on a top line miss and a disappointing forecast. plus stocks in china extending their gains in what could be a possibl