>> it's 11:00 a.m. on wall street and squawk alley is live. ♪ welcome to squawk alley for a monday morning. we're in post 9 joining us from aspen today walter isaacson. good morning to you. a lot to get to today. it's official verizon will buy yahoo!'s core business in that deal worth $4.8 billion.

marissa did join us earlier this morning and talked about her future with the company. take a listen. >> obviously any role to date has been working hard on the process to get us this far and now my immediate priority is seeing the transaction through to close while also managing the value of our asian assets so i really got two priorities because it's really both of those components and that's what i'm going to be focused on moving forward and after that, very open minded. >> guys, as she said not a lot of companies get to change the world. yahoo! did but her broader point was it's hard to manage through a large pashift like that at scale. what's your take on this? >> it's going to be interesting because verizon is now creating, we all talk about mobile first. they're creating something that's a mobile first content ad platform company but with aol,

tim armstrong, now with yahoo! and it's going to really be a shift as you just said because all of a sudden a company like verizon might be in the same business as cnbc's parent company comcast or a company like google, alphabet, where we're not just seeing traditional media companies and then different ways. i'll be interested to see what they do in integrating this company. >> walter, people said when mayer took the job there's never been a successful internet company that gets turned around and returns to its prior success. what can verizon do for yahoo! and aol together to try to restore some of that? can it? >> well, one problem that yahoo! had is as smart as marissa mayer

is and what a good person it is it never defined what that company was. over and over again from david and jerry when they founded it all the way to marissa, you were never quite sure what yahoo! was doing. was it the content company and an organization in the internet company, a homepage company so now i think to answer your question, what verizon can do is sbi grate this so that you're getting everything from what netflix and hulu does to what nbc and disney do to what a company like google does which is giving you connectivity and giving you content and giving you community. one of the roots of the internet with this motion of forming community, yahoo! like many companies missed the social network revolution. that's what verizon has to do as

well. and verizon has to extend it's footprint so it's not just a mobile carrier and it's competing nationwide. >> i see it some what differently. so me aol and yahoo! were the google and facebook of the internet 15 years ago and they just flat out failed. in a sense nobody asks what you are. until you're screwing up. what is verizon now? now that it has aol and yahoo! you can ask the same thing. it doesn't matter what verizon is. it's big, it's successful, whatever. in a way, yahoo! did turn around under terry and to me, covering it at the time it seems the error in retrospect is people faulted yahoo! for not being google. it was diversified and doing a lot of the things that google and facebook now do with a stock

structure where they don't have to be as worried about short-term as back then. >> nobody questions that you don't have strategy until you start failing or that you don't have a definition of yourself until you start failing is correct. one of the very interesting philosophical things is it incorporated human involvement in making directories in which they were doing the news department at yahoo!. it was actually cure rated by human beings. google went in the opposite direction and everything is algorithm and computer curated. it's interesting that you couldn't make that human moderation at the core of the dna of yahoo! work. however when you combine it with aol and put it with verizon you

have people like the people at the huffington post, i think you're bringing back the human element and that will be interesting to see. they have the human element. the newsroom, the journalist that you don't find at a place like alphabet and google. >> let's turn to politics this morning. the head of the dnc is out as the democratic convention kicks off in philadelphia. john harang ge john harwood is there. >> debbie wasserman schultz re-signed at the end of the convention but when she spoke to the florida delegation this morning she got a taste of how rocky that reception might be. >> i also had the privilege of speaking to hillary clinton and she thanked me for my service. we had a wonderful conversation. she asked me and i committed to

her that i would serve as a surrogate throughout this campaign so that we could make sure that she is able to help build on the progress that we have been able to make. >> now disunity among never trump supporters was not helpful to republicans at last week's convention and disunity against the clinton campaign would not be helpful to democrats. mr. sanders himself said he was urging his followers to keep an eye on job one. >> right now, what we have to focus on as democrats is t defeating the worst republican candidate i've seen in my lifetime. he would be a disaster for this country. we have to elect secretary clinton. >> now typically the first night of the convention is about knitting the base together. the same is true for democrats tonight. not only bernie sanders will be

speaking but the clean up speaker is elizabeth warren. they're sandwiched around michelle obama who is a unifying figure within the democratic party and the entire country guys. >> john thanks. walter, definitely not the year of the pageantry and coronation, right? >> exactly. it's hot in philadelphia. i'd think she ought to get out here to colorado or somewhere where it's cool. she should get out of town. >> how important is it to trump to grab a piece of that sanders flank? >> it's very interesting and the seismic shift that's happened this year in politics is a lot of disaffected working class, middle class people that feel that the trade deals, immigration, globalization, technology, may have increased the wealth of our country but they have left a lot of people

out of it. those people are both democrats and republicans. so you're going to see a major realignment with people like michael bloomberg, moderate republicans. we're about to start out here in aspen our homeland security summit with a lot of the generals and admirals trying to keep america secure and they're very worried about trump, nato, pulling the rug out from under nato. seeming to be in alliance to some extent with the russians and undermining what has been our traditional foreign policy. so all of that is causing a major set of realignment and rethinking. whether it's the white working class or the traditional middle of the road republicans and conservatives or for that matter people that believe in a strong military. >> walter, i want to ask you about e-mail in the midst of all of this. on the one hand, it's seeing the truth of the way the dnc, the

party apparatus has been working. on the other hand, hackers, possibly russian hackers have seized the narrative ahead of a major event in u. s. political life. what's the significance of those two things? >> this is amazingly significant. i'm sure everybody read the story in the new york times today that have two different russian military aligned and intelligence aligned groups. did that hacking and then they released the e-mails and they are trying to tip the scales, russia is and the russian intelligence and military community seem to be trying to tip the scales of an american election and then that ties into, you know, trump's platform on supporting the sort of weakening of nato's commitment which is something russia really juans and you have -- i would love to know what loans and debt have been financed for trump by

the russians. it's getting into an area that reads like a spy novel. not like a normal making of the president. >> and certainly i assume you would expect attempts by russia or anyone to try to continue this influence in the next 105 days. >> absolutely but you know it's frightening to know that through a cyberattack and this is what we're trying to get people here to deal with these cyberattacks from nonstate actors and in this case probably from russian state authorized actors that will influence our political system. this is a new form of cyber warfare. >> walter, a lot to get to today with other topics. we appreciate your time as always. from aspen today. >> meanwhile, stocks are sliding into the last week of july after

four straight weeks of gains. currently the dow is down 105 points. the s&p down 11 and the nasdaq is down about 12 points. meanwhile, shares of tesla seeing a nice gain after the company is close to striking a merger deal with solarcity. first proposed by elon musk. the stocks are up better than 2%. tesla up nearly 3%. both companies are controlled by tesla ceo elon musk. >> kara swisher is going to join us. plus was russia behind that and another busy week for tech earnings. apple tomorrow. more later in the week including facebook and amazon. we'll talk about what to watch when squawk alley continues.

back to the big political story. the e-mail scandal overshadowing the kick off to the democratic convention. debbie wasserman-schultz re-signing. joining us now from philadelphia democratic strategist and with us from washington jim gilmore. governor i'll start with you. we saw a very swift response and resignation on behalf of the dnc. grade the response that the

committee put together yesterday in response to this. >> well, again i think that with her re-signing that indicates that the system, they were trying to favor hillary clinton for the nomination and the people in the democratic party were expecting even handedness in the process and her resignation admits that's not the case. >> what question douse still have for the party leadership and wanting to know about how they make their decisions and how they put this together this year? >> well, you know, i think the key thing that we need to focus on is playing favorites and disguising that fact it plays into the narrative. hillary clinton has hidden all

of her e-mails and deleted all of her e-mails. it's pretty ironic. >> that's just false. that is false. let's stick to the facts. >> you'll get your shot. they were talking about how the russians have intercepted these e-mails. maybe we can ask the russians for hillary clintons e-mails. >> your response to that? >> the democratic process and party are working. i'm proud of our party. i was with all delegates from all over the country we're extremely unified and bernie sanders is to be commended. since we're on cnbc and we want to talk about people managing portfolios and have positions in the market the real focus is what's going to help the american economy grow. the economist not exactly a left wing newspaper, the economist ranked the election of donald

trump as the third highest threat to the world economy overall. that speaks volumes to investors. now i'm going to talk facts. the election of donald trump is the third greatest risk to the world economy. that means if you have a job, your job is at risk and if you're an investor your investments are at risk. i think what you'll see coming out of this convention is a positive future oriented diverse look at what america is going to be if we elect hillary clinton because if you take any presidential term from george w. bush to barrack obama to hillary clinton, what you see is overall growth and lifting of wages. >> that's not true. >> yes it is. >> that is factually not true. >> take a look at the dow jones governor it's there to see. >> that's not true. over the democratic administration for the last 27 quarters we have seen

substandard growth. >> that's unbelievable. >> yeah it is. >> we could debate what many people believe to be driving the markets guys. >> it's antigrowth. that's why working people across this country are supporting dond trump and the republican party this time. the democratic party is the cause of the glow growth in the united states of america. >> governor it's one thing to make assertions about growth and the reasoning behind it but are you arguing the trends in the stock market during democratic and republican administrations? i think that's the point that david was making. >> well, no what i'm arguing, carl, and it's not an argument, it's fact. the fact is that you have to grow over 3% just to stay on pace and under the obama and clinton administration this economy has been growing at 2%

or less. >> okay but the fact is also that the stock markets in democratic administration seem to do well so you can each have your points but let the facts stand. >> exactly. if you look at trends overall, look the old saying goes if you want to live like a republican you have to vote like a democrat. george wflt bush brought us the greatest recession since the great recession. and don't take my word for it. the fact that donald trump holds himself out because he's a billionaire as the key to economic growth is not born out by analytics, by the economist or by stock market. >> we're all working with a different set of facts here guys but quickly governor i want to ask you this question about the e-mail scandal over the weekend. what russia wanted was

opposition research on donald trump. it seems like they have taken a very different approach to the information that was obtained if, in fact, it is russia behind this. what do you make of this turn of events? and then we'll leave it there. >> i'm not sure that i care who has revealed the truth on this. the question is what is the truth and the answer is what is the truth is that the democratic party was favoring one particular candidate who is hillary clinton. but i can't leave this alone. it's very, very significant to say that it doesn't matter what the dow jones is. it matters what working people are feeling out there and what their experience has been and the fact that they're insecure in their job and young people are not getting the right start because of the slow growth economy that democrats believe in. you can't capture a growth message when your policy is to do things in this economy to slow growth and that's what we have had. >> we've been happy to clean up

the republicans mess and we'll have the growth like we had when bill clinton was president when everybody does better. that's what you're going to hear coming out of this convention. >> not as long as they continue to attack wall street and the free market system. not as long as they continue to attack capital in this country. >> where's wall street support for trump? wall street hates trump and you know it. >> that's what the democratic policy has been and that's why we're in play in this election. >> gentlemen take this off line. thanks to both of you. >> thank you very much. >> apple shares seeing a balance lately up 5% in the last month. this as the company gets ready to report earnings tomorrow. after the bell we'll tell you what to watch for when squawk alley comes right back.

>> a little news of apple self-driving ambition. >> john talked to bulls on wall

street and of course part of their excitement is what tim cook could have in that product pipeline. dow jones reporting that apple has tapped bob mansfield to lead that secret car project co-named project titan. apple declining comment on that story. and that would represent drops of 25% and 15% respectively. apple is thought to sold 40 million iphones as the tech giant struggle with the tough comparisons. question for investors is how much of that bad news is now priced in with the stock down more than 20% over the past 12 months. beyond the june quarter we know investors are focused on the iphone 7 expected in the fall. it's assumed it will only boast

incremental changes but even small improvements could motivate a lot of people to upgrade. >> the key piece that we think investors are missing is that there is a large pool. we believe about $2275 million units. when your phone gets to be older than two years you have a high probability of upgrading. >> the risk is that people put off buying that iphone 7 because they're just too excited about that 10th anniversary edition of the iphone due out in 2017. they put it at a low risk arguing there's too many people waiting to upgrade. back to you. >> thank you very much. let's bring in see monday hobbs. countdown to the close in europe that's going to happen in 2.5 minutes. >> a familiar pattern is emerging after brexit. whatever the vote may mean for

the u.k. it would appear that it's not as bad as many people feared. today we got the survey of german sentiment. it fell but it didn't fall as much as many people had feared. the major event happening now toward the close in europe is as the price of oil falls and obviously i'm talking about brent in particular so the oil majors are falling in europe. so they're pulling the european markets at close. it's the low cost carrier giant based out of ireland. they're refusing to downgrade that estimate. you'll be aware of the profit warnings. remember the campaign strongly for britain to stay in the european union. in the wake of the vote he says they'll pivot growth away from some of the u.k. airports. the banks are going to be a huge story in europe this week. today the weakest of the big banks in europe was actually suspended down.

it fell essentially down 8%. of course you have the stress test in europe for 51 banks on friday after the close. you may get some resolution on the italian situation prior to that and then over the weekend there will be a lot coming through and this obvious is the eye of the storm for many people. other banks are reporting in advance of that on wednesday, the capital position is going to be key. down another third as you can see and then the u.k. banks coming through and then you get barclays on thursday and big question there. to what extent are they going to have to cut cost as a result of where they think the u.k. economy is going in the wake of the brexit vote. it's a calm start to a busy week. >> thank you simon. more on the future of yahoo! and ceo marissa mayer after today's deal with verizon. kara swisher has been all over

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>> here's your news update at this hour. secretary of state john kerry meeting with foreign ministers from the countries in the capital today. it is the regional groups annual round of security focus meetings. several people were detained during a police raid in istanbul. more than 100 vehicles were involved with the search lasting three hours. more than 13,000 people including 9,000 soldiers have been arrested since the failed military coup last week. a texas sheriff's deputy was shot and killed at his home in what authorities say appears to be an attempted robbery. his body was found in his backyard. police are looking for two suspects. and swimmings governing body ruled 7 russian swimmers ineligible for the rio olympics because of doping allegations and violations. this after the ioc decided not to ban the entire team that arrived in rio last night.

that is the news up tate this hour. let's get back downtown to squawk alley. john over to you. >> thanks, sue. after a long auction process yahoo! is agreeing to be bought by verizon. marissa mayer was on squawk on the street earlier. here's what she said regarding her feature at the company. take a listen. >> i plan to stay. i love yahoo! and i want to see yahoo! into the next chapter and i'm looking forward to working with him again. >> this played out as you said it would. interesting for marissa mayer making an open bid to stay on putting them in an awkward position. what do you make of it? >> i think that's her way of saying she's going to stay on

through the transition and she has been paid to. she hopped them up on money to keep them there through the transition which is important it's just words and they're being polite. >> okay. i didn't interpret it as being polite but i'll take your interpretation over mine. what do you make of verizon's chances in making this work based on what they have done thus far at aol and it's the digital efforts and video and mobile video. they're competing against not just other phone companies like at&t and google and apple and

facebo facebook. >> it still has enormous scale and they need scale and yahoo! has some really nice assets that may have been mismanaged. they also have some great content again that's been mismanaged but it's still strong and if you're going out to buy something at this relatively inexpensive price it seems like a lot. you're getting a lot of stuff that you can work with and would fit in nicely with your other assets including the stuff that aol brought to the table. >> is there some irony in the fact that two companies run by two former googlers that are one time google rivals are now ending their lives as public companies? both aol and yahoo!? >> it is interesting. it's hard outside of the google bubble, isn't it?

and they know each other well and that's a nice part of it but in this case he'll be running this entire combined operation. and he'll be doing that for verizon and whoever, right now mcadams is the ceo but there's some question of who is going to be taking over for him afterwards. but it's the future of verizon that's digital. >> big picture here. we had people come on this morning and suggest that verizon could be moving, evolving the way comcast did. others say to buy aol and yahoo! to fight facebook and google is like bringing a knife to a gun fight. which is it? >> i think both. how about both. they really do have to get into

content and it makes sense to compare it to a comcast like thing and they have to be very diverse identified so they have to try. you can't blame them for trying for sure. it's the smart move and as to the assets they're buying, well there's only so many assets out there and not everybody can be facebook and google so you have to go with what you go with. you can make all kinds of jokes. you're putting, you know, together two dead weights and sinking to the bottom of the ocean. i have written about half of them. it's just the question, these are pretty big assets and unless you're going to innovate and create the book, you have to go with what you got i suppose. >> kara, does this underline the dangers of taking people from one successful company and assuming they're going to be equally successful somewhere else? i mean, sandberg worked out well

at facebook. >> pretty good. >> but not everybody is her. >> not everybody can bring back a company. there was a lot of media hype over marissa mayer and she was going to be the next steve jobs but there's only one steve jobs and her skills -- it was too hard to fix but it was like she was the golden genius. nobody can keep up with those expectations and she made a lot of very problematic decisions around hiring i think some of the acquisitions were quite simple. the ever conflicting strategies that changed over and over again didn't help the matter but still it was a tiff cut job and that she wasn't successful and lots of people aren't successful. i just think the hype she had when she came in was overdone. >> you're being nicer than

usual. >> well, she's leaving and i'm still here and actually yahoo! is talking to me again so i feel so good. what do i want? i'm back. visiting the purple people again. so i'm happy. >> thank you for joining us. an inside look at planes. russia orchestrated the hack of the dnc. the fbi is investigating. dow down 96 points. a lot more still ahead. stay with us.

got a quarter?

>> we're back on the halftime report. it all has to do with the few lines in the democratic party convention platform. plus former yahoo! interim ceo weighs in on the big yahoo! deal today. what does he think happens from here? talk about the markets as well. whether this rally can keep going and what is a huge week for the stock market. we'll see you in just a bit. >> sounds good scott. see you then. top democrats blaming russia for a hack that released thousands of e-mails from the democratic national committee. a man is live where the dnc convention is about to get underway. >> hi, kayla. that's right. what we've got here in philadelphia is a cyberattack that's royaling american politics within the past few

minutes. the fbi has announced it has launched it's own investigation into the cyberattack at the democratic national committee to find out who stole the e-mails and who released them. this morning i have been talking to cyber security experts and people familiar with the matter that are convinced that russian intelligence is behind the cyberattack and convinced that there's other e-mails stolen that have not been released yet including a previously announced hack of the clinton foundation. we haven't seen that much material released publicly yet. all of this leading to an embarrassing release of e-mail documents that seem to show that the democratic national committee itself was backing hillary clinton and not bernie sanders. that has supporters here very, very upset and it all lead to this moment earlier today with the chairman of the dnc that announced yesterday she will be re-signing speaking to the florida delegation breakfast this morning and being booed by

democrats in the room. here's the moment. >> i also had the privilege of speaking to hillary clinton and she thanked me for my service. we had a wonderful conversation. she asked me and i committed to her that i would serve as a surrogate throughout this campaign so that we can make sure that she is able to help build on the progress that we have been able to make. >> i can tell you that the bernie sanders supporters in philadelphia are really upset about this. they feel that the scale is tilted away from them. they didn't have a opportunity in this primary campaign and used inside influence in washington to win this nomination. we'll be out covering the protest. we're expecting bernie sanders supporters to gather at city hall here in philadelphia in a couple of hours time and we'll bring you the protests as they get underway from here in

philadelphia. >> now, how much will a presidential election impact cyber security. we're joined now here at cyber risk services. once they compromise a system they're not looking for the information there. and they can compromise more things. we don't yet know how deep this goes. it's having a big impact. >> i would guess they're finding different way across the network and looking for different information and i would expect this is something that could play out over a long period of time. >> just because we haven't seen the same number of hacking

attempts on the republican side there is a broad rethinking of how the political party is, the governmental system protects information in this country. >> there's nothing that requires attacks be talked about. there's a number that play out in the enterprise every day and play out in politics and across the board that aren't part of every day conversation so what we're hearing about is a fraction of what's really happening so just because it's not being talked about, that does not mean it didn't happen. >> about a month ago when we first started learning that the dnc servers and e-mails were intercepted the idea was russia was supposedly looking for opposition research. how hard is it to know who is in there and what it is they're trying to get? >> think about the adversary. we're seeing the same type that we see play out across the board. cyber criminals.

we see hactavists. it's hard to identify who the adversary is although it can be done but understanding it helps you understand the motivation. you can have a better understanding of what type of information they might be looking for and what they may intend to do with it. >> we're so used to hacks that after credit card numbers and passwords is this easier by a multiple just to find an e-mail and not data so to speak. >> what we hear about is attacks focused on personally identifiable information and financial information but-so much other sensitive information that is of focus and that is the motivation of these attackers and to your point it's everywhere. it's not in a single place. it's not a single data type so it's much easier to find all of this unstructured data across an organization. >> i assume the biggest challenge is translation. just changing it from english to russian or whatever. >> absolutely. i have a feeling that regardless

of who is behind this, they have a number of translators that are helping them. >> now we have a different kind of october surprise to worry about. it's digital now. thanks for joining us. >> thank you. >> when we come back, we'll talk to the start up that it can teach you to build your own self-driving car. squawk alley is back in a moment.

if you've ever wanted to build your own self-driving car, just the course for that. partnering with tech giants, google, salesforce among others. number 12, on our 2016 disrupter 50 list. good morning. >> good morning. a nan oh degr nano degree. how long and how do you leverage it? >> new credential built by nimy company in silicon valley. we tell students, if you can't find a job we can't help you find a job, you get all tuition back. >> what skills do you pretty much need have going in? compare this to getting other course work that helps you build apps? >> it's on the tech sector. working with companies like google, fisebaacebook and other

give people jobs in silicon valley. going in, you need some tech skills. depending where you start, analyticals or basic ones needing no skills at all. >> is it a better tool for companies to train existing employees with new capabilities, or is it something that people would want to put on their resume to differentiate themselves going into an interview? >> it's very much the same way a degree makes. distinguish yourself. companies like google and many others pay a lot of attention to it. at&t hired many of our people. relatively easy to get a job once you have the degree. >> big picture, what do you expect opportunities like this, opportunities for learning like this, to do? how is it going to change the landscape when you're offering access to, to information to a broader group of people? >> first of all, i really think everybody should have access to great education. that's not the case today.

secondly i believe education is moving from one-time to lifelong education, people keep learning during their lifetime. employment gets shorter, technology moves faster and more and more people are asking for, i want a new job a new career. that's where we come in. we help people define new careers in the tech sector. >> i presume you have projections of the numbers jobs in this space in five, ten years? >> yeah. there's various studies. some studies as high as 80 million open in the tech sector. maybe that's optimistic, but even in silicon valley, self-driving cars, finds a job almost instantaneously. >> would you expect the larger employers in the space to be the names we already know, or do you have to start hunting for houses in detroit? where's the focus going to be? >> we work with all kinds of employers, a signature partner, at&t and many others, massively

hired. the insurance companies, the health secretary all of tech companies and need tech skills. big machinery and weapon and mobile, so as a result, our graduates find employment all over the country. >> sebastian, as the mind behind the moon shot lab at google, now an outsider watching the evolution of that company as of a ifal if alphabet? >> separation between exxon and goingogle is a good part of it. not all succeed, but the chances of any of those to make a huge dent on google's shareholder value and the world at large is actually enormous. >> if tb doesn't wo-- tv doesn'

for us we may be giving you a call. thank you very much. and pokemon go reversal for nintendo. we'll talk about that in just a minute. ♪ [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models.

check out shares of nintendo today. seeing a down turn after skyrocketing off the success of pokemon go. in a statement after the close friday the company said while the company holds ownership rights to pokemon, they are not the game's creators, investors realizesing it won't be boosted by the game's suction. only owning about a third of the game. did not change guidance for the full year, and hence, some of the calls to sell. >> yes. some investors waiting to short the stock, because they felt it was getting ahead of itself there. >> for their sake, you hope they didn't wait. "fast money" like to call a selling opportunity, i guess. how did investors know they didn't own the game? saying it for days. >> not a surprise. the surprise, kramer spent the entire weekend playing it. not kidding around.

and dow down 103. volume's light because to move today is to step in front boj and amazon. >> and the fed. >> google and the fed. even if you think it's a dead meeting or not, a lot to come over the next five sessions. let's get back to headquarters, check in with wapner and get "the half." carl, thanks. welcome to the "halftime report." i'm scott wapner. top trade this hour, bracing for a biowreck? though the secretator had a sha turnaround since june, is the worst over? with the democratic national convention kicking off today in philadelphia. look at a key part. there's a live shot of philadelphia, but we want to show you part of the party platform. and i quote, "the profiteering of pharmaceuticals is simply unacceptable." could have a major impact where the stocks trade from here. with us today for the