>> recode's executive editor kara swisher. good to have you today. a lot to get to. amazon hitting an all time high. profits top estimates. revenue beat thanks to amazon prime and aws. we keep hearing from these analysts that say they reached a point where they can now invest aggressively and start posting consistent profits. do you believe it? >> yeah. i know. amazon and profits. who thought we would say that after all of these years. it's interesting. aws has been the winner here for them and allowed them to do investment in other area and still show great financial returns for wall street and i think it's, you know, one of the things that probably jeff besos will do is continue to invest. i think that they're a company that doesn't think as much about the idea of profits than any others and you'll probably see them investing in video content and other things and not doing what wall street wants all the

time. it's disheartening to wall street investors. >> i wonder at what point investors look back and say remember 2016. remember that year when amazon was profitable for a whole 7 quarters. i'm wondering how long you think aws and the prime revenue will be able to cover everything else they're spending on. >> well, jeff besos is a very restless entrepreneur. he is willing to have failures and he is willing to have successes as he is having right now in the content area. he's going to double down in video content. it's the area everybody is growing into. it's hugely competitive and very extensive and he'll continue to use prime and other things to attract consumers and dominate the retail landscape which he does right now. >> amazon is still spending a lot. it's interesting to me, in q-3 they're going to open up 18 fulfillment centers getting ready for the holiday quarter. that's three tiles more than they opened last year but at the

same time they're projecting this operating profit and they also talked about content spend. the most recent time they said how much they were spending. it was 1.3 billion. it was 2014. they said they were going to spend twice as much in the second half of this year than last year. the fact that they're managing to spend that and still projecting operating profits suggests to me that scale wise they turned some kind of corner where people are coming back and spending more. it's not that they're investing less. it's just, hey, the revenues are so high. >> yeah, well he's in it to win it. that's jeff besos. he's going to go into other areas too that he find promising so i don't think he's going to change his nature but at the same time, the things that he has invested in have started to pay off and that's good for them. >> well, theal lenlts that are getting those fulfillment centers will be investing in traffic lights and traffic cops to handle all the trucks coming

in and out of there. >> let's switch to google. they beat estimates at the fastest rate in over two years and we keep our eye on expense control over there. what's your thought? >> it was a great quarter. people were disappointed last quarter but this quarter they is blown it out. obviously the cfo is getting a lot of control over the business. they're still continuing to spend on the moon shots. that was an enormous loss there. close to a billion dollars. and earning 185 million. something like that. so they continue to do the same thing. investing in future things and have yet to have it pay off. we'll see if that happens but in general they dominate advertising. same thing with facebook last week. they're the ones in charge of a lot of digital going forward.

>> so far this earnings season it feels to me like we're seeing aggressive moves from giants to an extent that i hadn't expected. you look at am, yes smartphones have slowed down. here they are actually doing it. look at amazon. look at google. what do you think this says about the state of tech. as said in code conferences past, the winners of the past are continuing to win at a pace that we have intended to see. are they separating from the challenges here? >> they are winning and dominating and it's the beginning of the m&a cycle. there's a lot of properties that can't reach escape velocity. google for a long time now has.

amazon is doing it and when you have this chance to really dominate you take the advantage. they have stocks that are doing rather well and, you know, you'll see like linked in being bought by microsoft or net sweep by oracle. you'll see tons of that going forward and the smaller ones that have broken out like uber we'll see if they go public and what happens to them going forward. if they can do the same thing and air bnb and others and they're managing their business super aggressively and it's a smart thing to do. >> the conversation we were having about google doing deals last year centered more on google at some point spinning out youtube but now people are talking about whether they at least need to break it out in the numbers. do you think they'll ever do that? >> google doesn't run itself for investor knowledge. it will be interesting to see. one of the things a lot of

people feel given the aggression from amazon and netflix and others. it will be nice to see where youtube stands in comparison. you'll get some information about it but not enough and they'll reference the fact that it's profitable and say things and nice to know the size and shape of it and video content becomes much more important to google's business. it's google to who knows. >> finally she's working on a new book. what do you know? >> it's called option b. and most people know, one of the things she has been doing is talking publicly about her grief and adversity and she is turning all of that into a book. it's not just about her. she'll have her story in it but it's a discussion, a lot of research with a well-known professor and what you do with adversity and how you cope with it and the research around it

and her stories and other stories. it's an interesting shift because everybody thought she would do a sequel to lean in which was about women in leadership but she is taking a part of her life that she has been very vocal about and making it into something she thinks she can help people through adversity with advice and research and stories and things like that. >> it's amazing to see someone that's gone through so much personal loss and public scrutiny and attention and seems to remain really engaged in a company that's firing on all cylinders. >> yeah. there's all this talk about her leaving all the time and going to disney or joining the administrations. it's going to happen again if hillary clinton wins the presidency. everyone will be thinking of her for a cabinet position. she seems really happy at facebook and she has been coping with a terrible tragedy and at the same time trying to make sense of it and that's hard. the wall street journal had an unusual story saying it's weird

that people talk about tragedy or adversity and i think it's great. i think it's healthy and i think she hopes to help people and we'll see how the book turns out. it's called option b. >> is there a time line. >> well, she has written it. she has it almost done with adam grant which is interesting. she probably has her pick of publishers. it will be interesting to see -- she published lean in and it will be -- she'll probably have her pick of publishers so she could publish it really quickly. the name is really interesting. it's about a story, a friend of hers, she was crying and saying, talking about her kids and having, you know, a father figure and didn't things and she said i want option a, i want dave back and he said well we'll have to kick option b which is a really lovely way to put it but they put posters all over facebook saying this so she's using that for the title of the book.

>> we appreciate that reporting. we also loved your interview in new york magazine about the state of media which everybody should go back and read. >> thanks. >> thanks so much. david faber made his way to the desk which can only mean one thing, news. >> we mentioned in the first hour of squawk on the street and we have the initial news from sabmiller which said it's board will recommend that offer for 40 pounds for its huge acquisition of course and the company is one of the largest acquisitions of all time. there had been some question given that it was preemptive in making that $45, 45 pound offer. one pound higher than the previous offer. why? well the value of the pound went down so the value of the deal was actually impacted in a significant way and in it's review, sab's board said it was a difficult decision given changes in circumstances since

they recommended 44 pounds a share. they were satisfied at that time but they cite most importantly the impact of the brexit vote and the value of sterling and rerating of comparable companies but at this point it was at the low end of the range. values considered recommendable. and they're also saying by the way now -- well let me tell you what happens now. you get something called the scheme of arrangement. you can see shares are up rather sharply. scheme of arrangement and a shareholder vote will follow that. we still have some time to come until the deal is closed but this more or less assures that today also having receive add approval from the regulatory authorities in china so all of that is out of the way. this of course a key milestone had been brought into it. said some question though highly likely and, in fact, has occurred. they will treat the shareholder vote as two separate classes. you have the 40% of the company

treated as one class and other shareholders by another and then a close before the end of 2016. >> one of the only big deals impacted before brexit. >> breaking news on zika. meg has that. >> zika cases are increasing rapidly in puerto rico urging action to protect pregnant wil. more than 5500 people have been diagnosed including 672 pregnant women. cdc saying this could lead to hundreds of infants being born with microcephaly or other birth defects. we should see even more cases to urging people to protect themselves in puerto rico. this also comes on the day we're seeing our first local cases of mosquito born transmission here in the united states down in florida. urging people to protect

themselves from zika where it is spreading guys. back to you. >> thanks so much. when we come back, breaking downhill ri clinton's historic night in philly. plus how did the dnc play on social media? a top official at twitter is going to wrap up the week and a closer look at the wearables company the u.s. olympic team is using in rio when squawk alley continues in a moment. ♪ there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. announcer: they'll test you.

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clinton and trump campaigns now must sell their agendas to an electorate. her acceptance speech offered a progressive agenda. take a listen. bernie sanders and iowa work together to make college tuition free for the middle class and debt free for all. if you believe that companies should share profits, not have executive bonuses, join us. and i believe wall street can never ever be allowed to wreck main street again. if necessary we will pass a constitutional amendment to overturn citizens united. wall street, corporations and the super rich are going to

start paying their fair share of taxes. >> let's bring in cnbc contributor. this is normally when we see candidates trying to move toward the center to capture the independent voter. sounds like she is going after the bernie voter. >> it's obama 3.0 or bernie 2.0 and the whole party shift to the what? i don't see mrs. clinton having her own point of view. the way her husband did 20 years ago and i was a supporter of bill clinton's moderate democratic -- i don't want this to be more political than it needs to be. here's come common sense. you saw the lousy gdp numbers. >> 1.2%. >> for the quarter but also the last four quarters. you're flirting. you're on the cusp of recession here and this is the slowest recovery, going all the way back

to world war ii. when jfk cut tax rates the economy grew at almost 5% for almost 8 years. when reagan cut tax rates the economy grew at nearly 5% for 7.5% you're in a position now and it's a weak economy and instructions are falling profits are falling productive is new. mrs. clinton has a laundry list which you play accurately of tax hikes. any corporate tax reform. i know her economist and those guys are more corporate tax reform. seriously. they don't have a plan. trump on the other hand, say what you will. he's got his issues. i get that. but the contrast when trump spoke a week ago in cleveland. he talked about big corporate tax reform. large individual tax reform, deregulation. those are antirecession

policies. mrs. clinton, i'm telling you i'm going to make it worse. i don't get it to be honest with you. >> it will be important to see what each of those tax plans look like and that's something that you're working on but currently both parties want to break up the big banks and rip up and renegotiate trade agreements and agree that wages should be higher. >> i don't know how you get wages higher if you're taxes business. taxing business. she specifically singled out, what did she say? that's where the money is. and she wants to penalize businesses moving here and moving there. the way you deal with offshoring and inversions is you make our code competitive. drop the rate to 15%. have territorial, and no double tax on foreign earnings and cash expensing for new investment. business investment peaked in 2000 basically.

that's w and obama. so it's the wrong policy descriptions. there's a lot of spending indemic in her plan. more details later. all i'm saying is this, look at today's numbers, there's a trend, you're flirting with recession. >> but it's second quarter 2016. the election is in november. the inauguration is in january and then you have to get something through congress. >> well, look i don't see any big changes in the economy in the next four or five months. i could be wrong. look i'm an optimist. i love to be optimistic. but i don't see it. business is going down, consumers will fall. now your second question, my view is on the trump side, where i know something about what they're doing, you get all your ducks in line, you get your tax package in line and regulatory package in line and spending package in line, you work with kevin brady that has a great tax plan and paul ryan in the house.

you work with mitch mcconnell and you get ready. january 20th, is that when they get inaugurated? you get ready for a major reconciliation package. 51 votes in the senate is all you need. >> people are familiar with that. >> this is how we did all the reagan stuff way back when. get ready. you can pass this stuff in 30 to 60 days and give a jolt to the arm of the economy. that's what you want. get the house version which is very similar to trump. the senate will go along and boom that's how you do it. if they lose the house and senate all bets are off. i get that. >> when trump says apple is going to move iphone production back to the u.s. they're going to make him do it, what do you say? how does he make them do it? >> i don't know how you make somebody do it. i don't know how you make somebody do it. but i do know that incentives matter. so if i make this the most investment hospitable destination. this being the u. s., hen serve

going to move back. in fact, not just american offshoring but others. trillions of dollars will come back to this country if we have the most hospitable investment environment and i believe that's what is coming. canada is at 15, britain is 17. usa should be at 15. watch them all come back. >> how much of this economic conversation is tossing red meat -- when trump says that, most of us know he can't make apple do that and appleby the way is is already successfully building more technology in the u.s. than a lot of competitors with the mac pro. so when you balance that and consider what michael bloomberg a billionaire himself said about trump's economic message coming out against him, how do you square that? >> well, on a separate question mr. bloomberg who i respect and i know quite well, he had a bad night but i just put that aside.

>> we'll let you take that up with him. >> in terms of your points, you don't make, you create incent e incentives and that's what is missing and it has been for years under dems and republicans. they had a bipartisan overlooking of our lack of competitiveness. that will all change under mr. trump's thinking and also give credit my friend kevin grady has a terrific tax cut plan so i don't say make. i say incentivize and i believe trillions of dollars will come to the usa. you'll get a business ib vestment which creates jobs and good wages and by the way, one other point, john, energy. hillary clinton is against fossil fuels. she is against coal. she is against fracking. now you want to redo american manufacturing start with energy. we already had -- ball balm sob

out of this for the most part. hilary wants to go back in and includes coal. trump wants to unleash it and take the hands off. take the regulations off. he doesn't want the energy department to be a hedge fund but he's saying let the private market run and there's your manufacturing base. there's your competitiveness. that's the kind of thing we should do. unfortunately i didn't hear any of that from mrs. clinton. her husband would have said that. her husband would have gone there. >> we'll see what harold ham has to say about that. >> i love harold. is he coming on? my absolute hero. >> always good to have you. >> thank you for having me. >> coming up, the tech company team usa is going to use this summer in rio. more on that. in my 60's. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan.

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>> kate rogers is in portland

looking at a company using wearables to help team usa. >> that's right. we're here in beautiful portland where sports and technology giants like nike and intel paved the way for start ups like apdm wearable technologies. they have been in the game for a decade but unlike fitbit and apple watch they're looking at the quality of your movement. so when the u.s. olympic team reached out they designed custom wearables for the u. s. men's diving and gymnastic teams to enhance their performance ahead of the olympic games. >> we can look and characterize the body movements. looking at efficiencies. are we trying to improve their speed or if we're trying to improve their rotations let's look at their form. >> this system though is really pricey. it can run into the tens of thousands of dollars which is why right now it's being used

primarily for athletic and medical research and while this idea could surely gain traction in new york or san francisco they say the intersection of fitness and tech here in portland make it an ideal location for their growth. >> you know, silicon valley has all the funding in the world but if you tonight necessarily need the funding this is where the culture of wearable technology really resides. >> we're hearing that a lot from start ups here in the silicon forest as they call it. the affordability and quality of life make it a great place to launch and as you guys can see right here behind me the views aren't too shabby either. back to you. >> that's a live shot. thank you kate. let's bring in simon hobbs on his final day at cnbc for one last european close. >> no pressure at all. european stock markets are higher as you can see. we should mention where we are on the data. the data is continuing to disappoint in advance of the brexit vote. for that period it's within the

euro zone and france came to a stand still. spain also slowed down so there is a problem there. brexit hasn't effected them as much as we thought but there was already a problem and the consumer confidence issues are plunging at a rate you haven't seen for 26 years as you go to the bank of england meeting next week. the big news is that we're going to get that 51 stress test for the big banks in europe. it's a very important moment particularly for the problems in the italian banking center. and it's going to have the bail in of the small savers of other people and we're looking for that to come through. presumably they'll do badly with stress tes and a lot of news over the weekend to pick up on monday. the bigger banks, the stronger banks around europe and you may

see the ceo focussing there on the core bank. what will be left and transatlantic relationship and it's up and other big banks and a lot of earnings coming through on the tape today. heres the movers. it was fascinating and up well over 10% earlier. yes the earnings beat more importantly. looks like the u.k. could pull the rug from its controversial nuclear investment within the u.k. that even members of the board were like we can't afford to do this with the balance sheet. the earnings are going to return $300 billion to its shareholders by the end of 2017. let's wrap it up and have a look at where we are. for july you're up almost 5% but it's very important if you're going to look at that to really take it back to the brexit vote on the 23rd of jub and if you do

it on that basis they can see that actually we are for the market overall in europe flat, the ftse is slightly better. the london market has dub well because it's made it cheap for other people to come through. that's may swror reason why the u. k. in local terms has outperformed. back to you. >> hope there's some champagne waiting somewhere. >> and a present from kayla. a very large gift. thank you, kayla. >> it's medium sized. >> good luck guys. >> when we come back, a pretty good week for tech earnings. i'll look at where those names go from here when we come back. t-mobile covers your business in more places. so you can take your business just about anywhere.

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these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about tomorrow...is today. go long. good morning, everyone. here is your cnbc news update at this hour. a federal appeals court rejecting new jersey senator bid to dismiss an indictment against him in a corruption case. he argued that the indictment should be tossed because of a constitutional clause protecting lawmakers. firefightering gaining little ground on a wildfire burning along the coastline. the fire now spanned 46 square miles and is only 15% contained.

it has destroyed at least 41 homes and put 2,000 more homes and buildings at risk. donald trump returning to iowa for the first time since securing the gop nomination for president. he told supporters some of the speeches against him were marked with lots of lies. and if you love chicken wings you have good reason to celebrate because today is national chicken wing day. i also hear it's national lasagna day. some restaurants are offering deals including hooters and buffalo wild wings. that is the cnbc news update this hour. let's go back downtown and squawk alley. john. >> it's going to have to be national cyber day pretty soon. >> i think so. >> amazon stock hitting record highs. both companies delivered straight as on their second quarter report cards. the tech sector lead the market.

and eric sheridan analyst at ubs both raised their price targets on the stock. eric, i want to start with you. good morning to both of you first off. let's talk about amazon's spending and continue projection of operating profit, particularly for q-3. how do you interpret that? they say they're holding back on amazon fresh. the grocery business. they're rolling that out cautiously and continuing to spend on content. is this a new amazon that's going to be profitable from here on out or at some point is this going to tip back the other way? >> they have hit a tipping point where you're seeing more sustainable profitability in the amazon model than you have seen over the last couple of years though i do think they are calling out areas where they're going to try to invest to sustain the type of revenue beats we saw last night for q-2 and what they implied in their guidance for q-3. those key investments are logistics. they're into content to create a

fly wheel and consumption pattern around the amazon brand across an entire household. >> if you believe that amazon is going to continue to go higher, which apparently, you do. what do you have to believe about this fly wheel and where it continues to go? they're building up 18 fulfillment centers in advance of the holiday season in q-3. that's three times more than they did last year. is that basic core business going to continue to fuel this growth because of international which out performed or just across the board? >> well, really across the board. they're tripling the fulfillment centers and doubling the amount of content investment and adding nine new data centers. laying the ground work for growth in the futureful amazon is one third the size of wall street. that's one retailer. there's still a fraction, a seeny fraction of market share and enterprise technology so it's too early for amazon to be harvesting earnings or margins

and that's why the focus continues to be on the top line growth. >> i want to ask now about google. it was a great quarter eric but overall, one of the things that caught my eye was the higher traffic acquisition cost on mobile which continues to grow really well for them and the fact that they seemed to say they're scaling back their hardware ambitions some what. how do you read those things as far as what it means for google's profitability going forward? >> well, look, we have seen greater focus on the right balance between investment for growth as well as rationalizing the portfolio. it is flagged by the company since really march on a shift in mobile around the search business. we also believe it's due to partnerships they have renewed with samsung and apple on the distribution size for search and that's putting an upward pressure on it so even though

you're seeing the pressure you're now seeing most of the last three to four quarter of an upward bias on the advertising revenue growth so even despite that pressure we still see this company surprising to the upside on advertising growth. this is a pretty wide supportive beat verse where is the street was going into last night. >> what other levers does alphabet have to pull because we have seen them announced the stock buy back. they have been smoke signals that maybe they would issue debt to continue buying back shares. more of a mature capital structure coming. what else should we expect? >> well, continuing share rerepurchases but think about the fact that as the largest media company in the world already, they grew by 25%. they and facebook were taking three out of $4 of all of advertising growth. so there is plenty of opportunity still in their core business and obviously they're laying some ground work in the

other bets for newer growth opportunities and mobile is a huge focus and they're having a lot of success in mobile which is different than what a hot of people thought 18 months ago and in video as video accelerates online and over the top google is well positioned there with youtube so we see each of those that they're starting to talk about. >> even the guidance on amazon's part. thanks for joining us guys. >> thank you. >> up next, more lay offs on the way at microsoft. we'll take a closer look at why. but first, rick san tetelli, wh are you watching today? >> i'll tell you what i'm watching. i'm zeroing in. dollar index down a penny and a fifth. this is big. down 128 in the dollar index.

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big far ma and bio tech. the impact today at noon on the halftime report. john we'll see you in about 15 microsoft announcing more job cuts today. 3,000 people will be layed off. and the noki it bought for $7.2 billion. this is after the company cut close to 2,000 jobs back in may and as it prepares to sbi grate linked in and it was interesting that we're getting an insight into the fact that microsoft continues to watch the bottom line even as it seeks to grow we're going to have to find efficiencies here as the price gets higher. >> so you don't think these are baked in from the write down they took last year. >> i don't think that's entirely

clear but it does appear they're taking a further step back from involvement in the hardware business that they had interesting given the google call when asked about the hardware transitions and where the projects are going. he said we're being more disciplined about how they approach those things. >> continues to sell more microsoft to make up for pain the other areas. that's one to watch as well. let's get to the cme group this morning and get the santelli exchange. >> good morning. i am so glad that i have this tendency not to clean my office very often because yesterday's historics on gdp definitely are a bit different than today. we all know that we had weak gdp today and weak is probably being as polite as you can be but

there's been a lot of changes and we know that steve was part of it and probably won't get it worked out to their liking. that's from the bureau of economic data but it's going to take awhile. go to the white board. okay? oh, here's what we had yesterday. if you look back, we didn't have today's data. 15, 14, 13 but this interesting. everything in blue here has been changed. everything has been changed. so if we look at what was 1.4 for example, 4th quarter, you can see actually only one remain in third quarter 2015. the calculation for our growth in 2015 it's 1.785 if you go back to 2013 you got back the

reversal we had in 15 so the new revised numbers were higher. 2.675 versus 2.45. that's a lot of data but everybody should be aware of all the large changes but here's one thing that just jumped out at me. when did the fed tighten? 4th quarter of last year which is the weakest now. you'd have to go to the first quarter. draw your own conclusions. the dollar index has not been in positive territoryll year and if you look at the following charts, the one week chart has not had a great week. if you look at a chart that goes back month to date it's had a tough july but it really is pretty easy and i always thought fx traders were next to fixed income traders.

they do their homework and when you're dealing with that fact there's a lot of moving parts there as there is with fixed income. the long and the short of it is the dollar had it right all year and the weaker dollar, everything going on in the world and now the tomb stone in this gdp, if you're looking for tightening i don't think you'll find one for quite awhile. back to you. >> so much for that. thanks, rick. >> up next, it's too early to figure a post convention bump in the polls so we'll look at democrats versus republicans when it comes to social media. whose convention won the battle of buzz. the head is going to tell us in a moment. don't go away.

hillary clinton is offici officially the democratic nominee. the race to the white house narrows, the pulse of voter sentiment, the trends that focused the most during the dnc. adam sharpe, head of news government and elections for twitter, still hasn't made his way home from philly, but that will happen soon. good to see you again. >> good to see you, carl. >> everyone is comparing met tricks. tv ratings, tweets. to the degree that it matters and we're not saying it totally does what did the dnc week look like versus the rnc week? >> well, twitter is where everyone gathers to talk about the big televised. no surprise, a reflection of tv

ratings you talked about. interesting was this wasn't an either/or. donald trump, live tweeting every night of this democratic convention in philadelphia. responding in realtime with both organic tweets and aggressive campaign on twitter. essentially inserting himself into the conversation, making this convention more of a debate than a pageant for just one candidate or the other. >> adam, what about the gaps? what about the bad moments? maybe not the biggest spike, but we saw the melania trump moments at the rnc. what was the, perhaps, most buzzed about gap at the dnc? >> well, i think one of interesting things at the dnc, it wasn't so much a specific gaffe, if you will, or eve n a moment like that. wasn't something like the melania trump speech. we saw a peek and second peek

talkinglifting michelle obama's speech. the closest on twitter probably the counterconvention, if you will, led by the bernie sanders supporters, while the network cameras and very orchestrated show in the hall was focused on hillary clinton and her campaign, people were turning to twitter, turning to periscope to have an, in-the-crowd experience with those bernie is a poesuppo when they had their walkout and sit-ins across the street. >> when you look at those kind of opposition moments on social media, perhaps using periscope, seems like there would be plenty to go around. the never trump forces at the r rnc. the diehard bernie or bust folks at the dnc. who used social media more? could you tell? >> i wouldn't say one side used it more than the other. in fact, with the party goal being unity, if you will, we actually saw that pattern

emerge. certainly earlier in the week you saw a battle between the, i'm with her, hash tag and the feel the bern hash tag. clashed in the beginning and converged by the end of the meeting. certainly we saw protests in the hall during hillary clinton's acceptance speech yesterday, but you have started to see a little bit more of unit any that conversation on twitter. >> adam, last night we heard hillary clinton say a man you can bait way tweet is not a man we can trust with nuclear weapons, referring to donald trump. twit sir described as trump's mother powerful tools to reach supporters a at a grass roots level and respond to critics as a crass roots level. at what point does it become knee jashg and oversensitive? >> that tweet was the most tweeted moment of hillary clinton's speech last night.

third most tweeted of this convention overall. what it speaks to is your point about donald trump using it and the fact the campaign has been playing out on twitter. both candidates announcing their vp nominees on twitter. that melania trump speech dre developing on twitter. it's a reflection as twitter is the medium for debate. where both candidates have been going at each other, where both sides have been active and connecting with their audiences, and so whether it's too far, i think that's something that you can see just as easily on tv and in a sound bite you see on twitter. i think the statement is a stronger reflection of the fact that twitter has become the medium and the platform for this communication. >> certainly a metta moment last night. congratulations on a busy couple of weeks. a lot more to come. see you soon. >> see you soon, thank you. >> adam sharpe with twitter, when we come back, cbs revenues

topped out. why that moment. and s&p by the way, despite that gdp his just hit another all-time record intraday high. we're back in a minute. you know what, guys? there's a lot of tree branches and dry brush over here. we should probably move the bonfire over there. [smokey whistling a tune]

i'm guessing smokey liked that idea.

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down despite posting a q2 earnings report. higher licenses and distribution along with increasing dividend 20% continuing a winning streak and seems investors want a little more ad revenue down 2-6 flies in the face what we heard in the likes of a google or it's up 19. right? >> moonves says the political season will be strong. cbs flat interesting in the year since disney basically saying the entire tv stock market because of advertising softness. >> quite a week for earnings. twitter down about 10% on the week, though it's getting a bit of a bounce today, and then groupon and grubhub, a couple surprise winners. groupon up 30% for the week. grubhub up 20%. some analysts saying not to overeat when it comes to grubhub. >> the company stock up 20% yesterday. errors coming out today. a couple downgrades. third quarter not looking as

good. >> and feels like it was three weeks ago. >> or longer. >> or longer. yeah. for the time being, markets flat. s&p hit that intraday high. see what's going on back at hq and get "the half." carl, thanks so much. welcome to the "halftime report." i'm scott wapner. top trade this hour, the so-called fang stocks. facebook, amazon, netflix google beating the broader market. what once fueled the rally is primed for another run. josh brown, go to you. look at stock performance. facebook up 3%. amazon 3%, netflix, alphabet, google up 5%. s&p back. >> and blowout earnings from these names. i don't think a lot of institutional money managers bu t