tv Street Signs CNBC July 26, 2017 4:00am-5:00am EDT
4:00 am
the ecb is ready do whatever it takes to preserve the euro. and believe me, that will be enough that's what draghi said five years ago. perhaps he's been true to his word, but has qe created bubbles waiting to burst a destruction of income for safers we'll ask ydiscuss the good, ba ugly of qe here on "street signs. i'm steve sedgwick a tepid start for stocks at the european open as investors watch to see what the fed has to say
4:01 am
about shrinking its balance sheet. elsewhere, unicredit safers a data hack affecting around 400,000 italian customers sending shares lower european automats are in top ge with shares much tof the french carmaker topping and senate votes to reignite debate on ending obamacare as senator john mccain dramatically reappears following brain surgery. >> we've been spinning our wheels on too many important issues because we keep trying to find a way to win without help from across the aisle. we're getting nothing done, my friends, we're getting nothing done can we doff our cap to mr. mccain brain surgery and whatever you
4:02 am
think of the politics republicans versus democrats, my goodness me returning to capitol hill yesterday absolutely dramatic what a man five years ago today, mario draghi said the ecb was, quote, ready to do whatever it takes to preserve the euro. let's take a look. so june 2014, european central bank actually cut interest rates below zero to stimulate the economy apparently and that is the point. is it still stimulating the economy? we'll discuss. two months later draghi hinted at a policy shift. after the inflation rate fell below zero for the first time since the financial crisis, the ecb announced the beginning of quantitative easing, that was january 2015 the program extended to corporate bonds the following march. but is the end of qe now approaching? are there people out there, i know there are people out there, possibly northern europeans who think there are terrible things handling because of happening
4:03 am
because of qe. after draghi's somewhat hawkish speech this year, euro hit a 12 month high markets took it as qe was coming to an end. and emha he will have a second speech at jackson hole next month. people are getting ready for fresh ecb moves. >> they are gearing up to a move we have the fed already on its way out. so we are heading towards a very interesting 2018 or 2019 which will be the years of the synchronized withdrawal of stimulus and it's very difficult for any analyst, any trader, to quantify the effect of that >> i should say the latest us federal reserve decision is due
4:04 am
at 2000 cet today. investors will be keeping a close eye what they say about inflation and unwinding of its $4.5 trillion. yet it appears we can't have a rate decision and the unwinding at the same meeting. apparently that's troo fraginl will fanlg i will for ttranlg fs andrew, inflation, it's into the where they want to be, this mythical 2%. so five years on, what do you think? >> i think they kept the euro going which many thought might not happen and i think the eurozone is
4:05 am
starting to pick up again, so probably 1.9% growth this year i think when you get into 2020, i think if they seize the opportunity brexit presents them, that euro zone could grow quite a bit faster into the 2020s. i think that might be one of the big stories in fact. you have plans such as encouraging all members of the european union to be members of the euro by 2025 again i think five years ago gee not many people would have thought that was going to happen on the other hand, they have had to keep very loose policy in place for a very long time and they haven't really resolved a number of the fiscal questions so they are one significant recession away from the whole thing falling apart. >> that is really interesting. despite everything you just said that sounded quite positive, you just come with a line there, with one significant recession away from the whole thing exploding?
4:06 am
>> i think that is probably true for the uk as well we go back to 2008, 2011 for the eurozone, governments have become very extended in physic no fiscal space left, no interest rate cutting scope. enormous quantity taiative easig so i think it is still fragile they need a period of extended growth so they can get themselves out of it the growth has been too anemic it's kept things going, but it hasn't been sufficiently strong to reverse things. >> what is wrong with having a little recession, a normal cyclical recession which if is such a thing i feel rightly or wrongly that central banks are trying to say you will not come in title, they tried to take over the economic cycle and oi wonder if that's nt
4:07 am
a bigger problem for us. >> minor downturns are one thing. they are probably healthy, they encourage the liquidation of inefficient businesses, they give the consumer sector the right sort of kick in the back side >> allow people to buy property. >> absolutely. so i think it's absolutely the case that some of the efforts which governments have gone to to prevent anybody who have become a little overextended from losing out, while they might be justified on a kind of six, 12, 18 month time scale, when you do these things for 10, 15 years, then they have significant intergenerational issues and i think we see anger from young people for things like voting for jeremy corbyn in the uk you have people excluded from assesses by deliberate decisions of governments they cannot buy houses because government decides to keep house prices high, they can't hadid ne
4:08 am
the opportunity created by richer people. they are excluded these things by decisions that the governments have taken >> what about -- you say governments. central banks and governments, synonymous they're not independent? >> not really, no. insofar as in an era of quantitative easing when the central banks print money -- >> '97, '98, was that the first thing? >> operational independence. there were quite a lot of skepticism, i wasn't much of a fan at the time, but there was quite a lot of skepticism about the idea as this ecb as this independent super central bank >> that was my secondary question what about these markets obsessions of central banks. i'm wondering if central banks, it's almost like me looking at my fan mail the whole time or jeff and karenlooking at twitter for positive comments. it seems like they are so
4:09 am
obsessed by the markets, what did you think of what i just did kind of thing. are they too obsessedby the markets? is it the tail wagging the dog >> we probably do live in an age of vanity. i think central banks should and do pay quite a lot of attention to data. you see some of the sentiment data, i think for example the bank of england was too moved by sent mts diment data last year panicked a bit with the interest rate and qe decision in august so it might also be you could point -- maybe some of the ecb's decisions when it raised interest rates back in the earlier part of the financial crisis, it was a bit too influenced by -- >> i have to leave it here, but i can't help sneak in a ten second q&a you're an economist. what do you think of vix below
4:10 am
9% or at 9%? i think that is terrifying >> volatility is unusual, but i think that partly it's a reflection of policy i don't think you should panic about it yet i think volatility is a thing which is very difficult to interpret exactly what it means. >> yeah, i put it in the same bracket of allowing recession to be honest. if you don't have a bit involved, you don't get the shake out. you're staying for another 25 minutes. european markets are fine. 7470 is where the ftse is currently trading. the germans having a good day as well four tenths of 1% higher and in italy, up despite the data hack. daimler's profit just shy of
4:11 am
expectations rose 7% in line with estimates largely thanks to 28% jump in mercedes-benz sales in china they also lifted guidance for its van division in 2017 anita has been looking at the numbers. >> reporter: the numbers are probably a little bit higher or in line with expectation, it depends who you are actually asking so they are not kroe y are over. analysts are bullish daimler lifting the outlook for its van and truck division and also saying that the ebid will be significantly higher than 2016 that is of course a positive sign so let me run you through where the growth actually comes from
4:12 am
in the second quarter as we were saying, china hand russia lookig very well for the whole year, daimler is also expecting russia, india and emerging markets to be one of the growth drivers for the industry the u.s. market is expected to be rather lackluster satisfies europe as well because they are quite saturated markets we're having here. in terms of second quarter, models say it's the e class and suvs in general went very well so having said that, during the analyst call that which just happened today in the morning, they were of course crisp on diesel sales and diesel they are saying actually slowing down, but demand substituted by the -- so a positive mess age, but across
4:13 am
the industry diesel is going slower than before the dieselgate for volkswagen. so outlook i was saying is quite bullish, but still they are saying that the industry is heading into the eighth con secretary you could difference year of growth overall and of course there will be a low down and they are also talking about saturated markets. and also the investigations of course on potential cartel or collusion between the three big carmakers here in germany is weighing on the sentiment for car shares overall back to you. >> thank you very much and that's where i want to go on, i want to talk about sentiment for the sector it is a huge week. ford, daimler, punlg yoe
4:14 am
reporting. daimler down 14%, ford down 7% but punlg yoe had a really decent incline, up 16.7% 78 fr 7 is the pe ford trades at the same level, 7 is the handle. and that c ompares with the dow trailing or forward 18 to 20 times. so why is this sector under so much pressure? sales headwinds. you have all the lease cars coming off on the two year deals and prices are under pressure. second hand c secondcar market under secondhand car market is under pressure
4:15 am
compact sales were down. this is first six months 18.4% decline in sub compact as well so the likes of gm are going we need to look at our portfolio. so looking at section cix cars review so all kinds of sales headwinds for this group of cars and this sector electric dreams. high point here is that as we heard on squawk box, they hooada fantastic debate, apparently we're all going electric so very interesting to see how the internal combustion engine is displayed and we have electric, hybrid, whatever the model is, leading the board as well who owns these comes biggest shareholder in daimler, 6.8% kia biggest shareholders of peugeot,
4:16 am
chinese 12.2 36% of this company tied up with three shareshareholders. ford, vanguard is the biggest shareholder. so hunlgs factors affects this sector and ancillary sectors short of expectations michelin says their miss was due to overestimated foreign exchange gains despite a rise in revenue. this comes as michelin faces pre pressure from low cost competitors. their ceo says that the tire maker is still on track for yearly targets >> i think most inventory has been sold, so we should have a second half with probably mine or growth as usual, but still quite significant one allowing us to hit our target for 2017.
4:17 am
4:20 am
4:21 am
countries and we look forward to gradual improvements of market balance. great. okay senior oil and gas analyst is joining us and andrew still with us, as well shell, there is a huge juggling act. how is it going and how will it look >> i think he's done quite well. if you look at cost reductions, he's delivered on that if you look at as set saasset s delivered on that. they have covered their dividends which a lot of people thought that they couldn't do. i think they can do it again this quarter organically and a big as set disposal number coming through, as well.set disg through, as well also they have done a deal with
4:22 am
the saudi arabiadyes s in the us >> we spend a lot of time obsessing with upstream, let's face it, but i spoke with the head of downstream and we do produce most of the income >> at the moment >> at the moment but it was interesting again i think we spend a lot of time looking at emp should we be looking at more retail activities, marketing, trading as the growth drivers? >> with oil prices that the level, yes, that is the thing it keeps the show on the road if you like bp just had a pretty optimistic presentation a month or so ago gee about their retail activities shell is a much bigger downstream player than most really apart from exxon. so it also is delivering a lot of its cash flow levels and that's where they will beat tomorrow so that -- >> who do you like in this sector >> total of course total was the first in terms of
4:23 am
getting their cuts costs and delivering the best earnings and cash flow through the downturn that we've had still quite cheap. so automatic of the majors, it's the only buy recommendation that i have right now >> and sell? >> bp for me, i've been worried. i think they are on the right track, but i think that is an issue. exxon has always looked vastliover ratvastlfasvastly overrated. a >> between y do y >> did you see factors that could lead to any significant moving prices up or down >> we're seeing inventories fall falli ing. and the worry is that the impac of shale will push it back up
4:24 am
again. there is not an awful lot the industry itself can do other than what it's doing at the moment in terms of cutting costs and repositioning itself they are moving more into gas than liquid fuels. >> and how big a price move could we be talking? >> well, if inventories go where we think, we could be talking low 40s again potentially. in that case the industry has to do more in terms of cost cutting. >> are we future proved? diesel banned pretty much. are they future proved enough these companies? >> all the european majors are talking about investing in renewables right now they are all making big pronouncements on that whether they get earnings from that is the question but yes, they are taking it
4:25 am
seriously. they have to if they are going to live in the european world. but it will take time obviously to replace oil >> are we obsessed with the break evens? bob dudley disappointed some people i think their number will come down >> yeah, break evens is obviously the key. it has to be below 60 obviously for investors to stay hold if they can debt gown to 60 or below, even better >> all right ian, thank you very much for joining us always a pleasure. don't forget we have mr. van beurden tomorrow and we'll be back after a short break.
4:29 am
i'm steve sedgwick european autos in top gear lifted by results from daimler and psa with shares of the french carmaker topping the cac. unicredit suffering a data hack sending shares lower. return to battle senator republicans vote to reignite debate on ending obamacare as senator john mccain dramatically reappears following brain surgery. >> we've been spinning our
4:30 am
wheels because we keep trying to find a way to win without help from across the aisle. we're getting nothing done, my friends, we're getting nothing done >> the pound is on a bit of a move seeing euro selling. so looking for these figures and we have them up exactly in line with expectations before 1.3% increase yearly figure of growth of 1.7%. uk economy has experienced a notable slowdown in the first half of the year service sector dominating. distribution, hotel and restaurants and film production are the main drivers uk economy 9% bigger than pre-crisis peak first quarter of 2008
4:31 am
industrial output down quarter on quarter construction, i think this is to be expected, construction down 0.9% quarter on quarter. so that is your data headlines in line with expectations i would suggest at 0.3 of 1%. andrew is still with us. what do you think? >> as you say, it's in line with expectations we knew there had been a slowdown and inflation was having an impact on the economy. if anything, i would say the data probably slightly encouraging because the more volatile components are the ones that are dragging it down and the key services sectors are up half a percent which is more than i might have expected so i think that that is shaky, but a chance that we will pick up a bit in the second half of
4:32 am
the year >> 1.3024, i think that is against expectations how do you feel about the pound at these levels? >> i think that there should be scope for -- well, obviously scope for all kinds of trading and i think a we there are rows with the eu and people saying that they are walking away but i think that you will have times at which sterling goes down quite a but, but reality is that they tend to do a deal in the end. if you get further interest rat rises in the u.s., then you could have some further weakness with the pound but overall trade weighted basis, i think it's mainly upside >> i'm a right old worrier i worry about how brexit will end, i worry about uk debt loads, as well and when i see the uk household
4:33 am
savings rate at pathetically low, i look at credit card bills, loans on autos, homes as well i worry about the rate hike. there you go, i said it. but you don't think i should be worried? >> i think the scope for interest rates to go up to around 1.25%, 1.5% before that has any significant impact on consumers. i think a fair amount of that will be absorbed by the financial sector movements obviously some things are directly tracking the bank of england rates. but a lot of mortgage rates wouldn't so i think that there is scope for a little bit of tightening i think it will be healthy afor there to be a little bit of tightening if it had been 0.5 i don't think there would have been. i think they need to see
4:34 am
movement on wages before there will be interest rate rises. wage growth seems to tick along regardless and when inflation goes below, you start getting real rate rises and the economy is looking well almost like things have become static in norm naturminal terms. so i don't think there is that much to worry about. >> have you seen churchill, dunkirk? >> i haven't seen either but heard good reviews >> i can't wait to see dunkirk and in the same release of the gdp, they said motion picture being
4:35 am
activity has grown by 72%. probably boosted by ta introduced by former finance minister >> up the culture test that they acquired to get these special film tax reliefs there may be scope for additional tax rae leafs created by brexit, as well so there is this enormous range of european convention and co-production of film.so there of european convention and co-production of film.by brexitl so there is this enormous range of european convention and co-production of film. so the creates difference sectors collectively is something like 87 billion pounds of value so a lot of value added from that sector. and of course epic events such as we've had might well form the plots of a few new movies.
4:36 am
>> who plays mario draghi is the question >> i have you down for donald trump at least >> he has better hair than me. how dare you give me such a sensible answer on a silly question i have to say, last film i saw -- anyway, lovely to see you. also knows a thing or two about the british movie industry i found out. let's have a look at the european markets 48 up for the ftse 100 cac up by the same margin. a little bit of a laggard performance from the dac the pound hasn't moved too much on the data. pound versus the u.s. dollar giving back a little bit of ground so numbers okay, but weren't the kind of level where we may get the hawk a little bitta agitatad
4:37 am
so a plan by senate republicans to appeal and replace obamacare has failed to gain enough votes. 43 in favor, 57 voting against amongst those refusing to back the member were nine republicans. the vote is expected to be the first of many this week after the senate narrowly agreed to open debate on a bill to end the democrat's signature health care law. the future of jeff sessions again appearing to be on the line after president trump said time will tell when asked about the future of the u.s. attorney general. speaking at a news conference, he voiced frustration that sessions had recused himself from a federal investigation into possible collusion between his presidential campaign and russia >> i'm disappointed in the attorney general he should not have recused himself almost immediately after he took office and if he was going to recuse himself, he should have told me prior to taking office and i
4:38 am
would have quite simply picked somebody else. so i think that is a bad thing not for the president, but for the presidency i think it's unfair to the presidency and that's the way -- >> tracie potts joining us from washington i'll ask you about the a.g. and the spat with the white house, but can we talk about mr. mccain the guy had brain surgery and he's a legend, isn't he? >> reporter: well, it's amazing. even the president who had previously questioned whether he was a war hero and so much was made of that said that he was amazing coming back here to do this, but clearly his vote was needed just to get to the point where we are which at this point is really nowhere. they have opened debate, but as we've said, debate on what they haven't said what the what is going to be but as for mccain, yeah, he came back he gave that critical vote to open debate, and then he started
4:39 am
cha chastising his fellow lawmakers saying they need to work together to try to get will done he voted to open debate, but then he did not vote to repeal and replace obamacare with what the senate has come up with. so clearly they have a long way to go. >> let's talk about mr. sessions why didn't the president if he's not happy with him just sack him? >> reporter: this is tricktricky obviously he's willing to do that when warranted. the thing here is that sessions was the very first lawmaker to come out and support him during the campaign the from hpresident has reportey talked behind the scenes with people like the fbi director about loyalty. sessions is the epitome of that, he was the guy who came out when other people here on capitol hill didn't want to be
4:40 am
associated with president trump. whaend it co and just yesterday he announced a crackdown on sanctuary cities. so he's doing some of the things that the president wants it just seems to really irk president trump that he backed away from the russia investigation. the president wants that investigation shut down. but there are other areas where sessions seems to be doing exactly what the president wants. the new communications director admitted it's a strained relationship we don't know what will happen here >> and he seems to be a lot smoother than spicy. >> reporter: well, that is interesting. yeah, sean spicer really took it from the meet i can't and had a rough time sarah huckabee sanders will be replacing him. she doesn't seem to have as much of an adversarial back and forth with the media that sean spicer did, although she doesn't fully
4:41 am
answer questions as the media would like but what is happening here is not just about sean spicer it's about the who communications team behind the scenes, what is the message, how are they delivering that message and if it's to the satisfaction of the commander in chief. clearly that wasn't happening, so spicer is out, others are out. and now he's trying to assemble a team that will deliver that message in the way that he thinks is fair and appropriate >> let's hope it's not a bit uphill for mr. mccarthy's career that spicer is gone now as well. who knows. thanks very much tracie potts joining us from washington president trump says his next big priority is to overhaul the u.s. tax code by slashing corporate rates to 15% and giving middle class taxpayers a break. speaking to the "wall street journal," he added any hike in taxes would be levied upon the wealthiest making america great again one iphone at a time according
4:42 am
toapple is planning to open new factories in the white house he said he spoke to tim cook who said they made a promise to build three big plachnts in the u.s. the company came under fire during his campaign to making most of its products in china. spanish prime minister has testified that he had no knowledge of the campaign accounting practices of his popular party while he was on the electoral campaign director from '94 to 2000 rajoy's testimony comes amid a long running investigation he is his country's first sitting prime minister to appear as a witness in a court case coming up on the show, is the facebook slowdown finally here we'll preview the numbers.
4:45 am
i am totally blind. and i live with non-24, a circadian rhythm disorder that can throw my days and nights out of sync, keeping me from the people, places, and things i love. the people i love have always been there for me. and now, i'm there for them, too. talk to your doctor, and call 844-214-2424 to learn more.
4:46 am
welcome back let me show you something. look at that there, there, to there, to there. 44% up, facebook shares hit an all-time high on monday. analysts are expects signs of slowing revenue growth when they report second quarter earnings it's a slowdown facebook has been warning about as the past year a push into other platforms such as instragram, messenger, maybe some form of tv production, could that provide revenue redemption, as well. i need somebody to talk to about this as if byscriptsed at all
4:47 am
i asked you to give me three bullets. you gave me slowing growth, instagram strategy and valuation concerns >> we're expecting slowing growth if we look at the same quarter last year, we had 59% growth this quarter that just ended, about 48% revenue growth so we know slowing growth and on top of that -- >> hang on those figures are dramatic they are the kind of growth rate declines that we would have slammed snap for as well so why are they not slamming this company >> the difference is facebook is now approaching 2 billion users. and the reason we have the slowing growth is concern of ad load the amount of ads that they can shove into your news feed. there are only so many ads that you want to see. but the two big acquisitions, instragram and whatsapp. and key is instragram, 700 million users strong and it
4:48 am
focuses on video and pictures and brands really like it because it's hitting a different demographic. >> this is why you put instragram here. and this is why i asked you earlier off camera, cannibalizati cannibalization. has instragram not cannibalized it or only old people use facebook these days? >> not necessarily still younger people on the core facebook app but instragram does appeal to that younger crowd when snapchat came to market, everyone was saying snapchat is all about the millennials. >> you and i were moaning. >> absolutely. and now you're seeing instragram is able to take the product, that has already surpassed the users for snapchat and that shows you actually -- >> could they cohabitate
4:49 am
because we talk about the cloud and we say they can all seem to do quite well at the moment. so is it only going to be two or three winners? >> i think it's difficult with a product to have loads of different players. you m of course snapchat was supposed to be unique and facebook has come out and made a very good rival product. and the charges for monetization are a lot higher and just the broader user base. and that's the difference here >> and tell me about the valuation as well. $479 billion market cap as well. we mentioned the stock is up 43.7% year to date 29 times forward pe as well. buyers out there, 23 17 strong. only 3 holders and one pathetic solitary seller. good luck to that person
4:50 am
virtually no one hates the stock. why is that? >> analysts so far see just around 4% left side left for this so cutting their estimates a bit. i think this is purely because if you look like i said the users approaching 2 billion people, when you look at ad on the core facebook product, that is fine. this is any go back to the instragram strategy and the video content as well on facebook, they are using live video, ads in to live video and even potentially investing in new content. when you have that kind of scale, it's very easy to then turn on these monetization tools and make money off these users as long as the investment keeps going in and the revenue keeps going up, the valuation will continue to be justified >> glad we found you just wandering around >> just passing by >> fully miced up. >> you never know.
4:51 am
>> lovely to see you thank you very much. let's talk about bricks and mortar shares in barnes & noble rose nearly 17% after asset management acquired a state in the bookstore chain and called on the company to sell itself. in a later to the board, sandell said it could attract interest from online companies. a spokesperson for barnes & noble told cnbc that sandell had not formally reached out, but they welcome constructive dialogue with shareholders activists get a bad wrap from longer term investors, from maybe the pundits, as well christopher davis joining us head of act tim and activism and a&m. so why aren't you the bad kids on the block looking to break downtim and activism and a&m. so why aren't you the bad kids
4:52 am
on the block looking to break down long established coy compa with long established models >> i think you have people looking to free long established companies that aren't operating very well or as one european activist put it, there are a lot of sclerotic boards in europe and so therefore the focus is there is a lot of low hanging fruit that has already been picked in the ugs. the focus is now going to europe which is seen increasingly as the land of opportunity. >> does low hanging fruit mean they are not giving money back to shareholders? because that is the accusation cnbc has done their fair share of that as well. not enough buybacks, not enough dividends increases. is that kind of the tenant of sclerotic boards who are not doing enough >> i think in fact if you look at the trends, the trends are away from asking for return of capital. it's becoming increasingly unpopular with institutional investors particularly the index funds which view themselves as perpetual capital and the
4:53 am
friends based on the numbers i've seen recently is towards m and a driven activism and after that operational activism where you have people who are getting on the board, contributing, look at what happened when value act got on the board of rolls-royce one year later, the stock is up 26%. that is a pretty good return and a very friendly constructive investor >> but let's have a look at the low growth there is nothing that they can do 2% to 5% growth is what you f d find you can buy your way to greater growth, but the multiples at the moment are so expensive, that that is not necessarily what the activists are trying to do in that sector. they want more buybacks and so they are encouraging others to
4:54 am
do i don't see how buybacks ultimately grow a company. >> i think they are also looking for -- they see that sector as very fat and has a lot of excess costs in it. look at what happened with un aun any unilever each seat in the airplane is now 25% less it cut its ad costs. those are the additional cost savings that actity vir tivistso see realized and that is really the goal, to do what is best for the share hold everies ers as a hold. >> but it's the time frame that i sometimes have an issue with let's move on.hers as a hold >> but it's the time frame that i sometimes have an issue with let's move on.oers as a hold >> but it's the time frame that i sometimes have an issue with let's move on.lers as a hold >> but it's the time frame that i sometimes have an issue with let's move on.ders as a hold >> but it's the time frame that i sometimes have an issue with let's move on. tell me about cfos you think we have the wrong kind of cfos with the wrong kind of experience >> i think cfos increasingly
4:55 am
have to be able to do more than the numbers. they have to be able to go o out -- communication with your shareholder base is ever more important. the ability to go out and communicate and carry the narrative and not just have the ceo do it will be increasingly important. and i think what you are seeing is those cfos who have a track record of having done well will be at a premium. and those who are not very good at it will probably get a lot of pressure look, a board member can find an activist to be a good friend, but an underperforming ceo or cfo is going to get a lot of pressure short to medium term to improve or to be upgraded. >> words of wisdom thank you very much. nice speaking to you, sir.
4:56 am
i guess the point is if you own shares, maybe you should be more activist. let me just tell you coming up on cnbc, yim cramer will be speaking with the citi ceo tonight on "mad money. 6:00 p.m. eastern.jyim cramer w speaking with the citi ceo tonight on "mad money. 6:00 p.m. eastern.myim cramer w speaking with the citi ceo tonight on "mad money. 6:00 p.m. eastern. cramer will speaking with the citi ceo tonight on "mad money. 6:00 p.m. eastern.im cramer wil speaking with the citi ceo tonight on "mad money. 6:00 p.m. eastern. that's it for "street signs. tomorrow biggest day of earnings season so far. we'll have the host of the top ceos your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered...
4:57 am
4:59 am
hey you've gotta see this. cno.n. alright, see you down there. mmm, fine. okay, what do we got? okay, watch this. do the thing we talked about. what do we say? it's going to be great. watch. remember what we were just saying? go irish! see that? yes! i'm gonna just go back to doing what i was doing. find your awesome with the xfinity x1 voice remote.
5:00 am
earnings and the fed take the driver's seat. we're breaking out your wednesday market playbook. and the senate takes up health care. we're live in washington >> and break out the chips and salsa, because chipotle investors are having a full blown fiesta we'll tell you why worldwi"worldwide exchange" beg right now. i'
63 Views
IN COLLECTIONS
CNBC Television Archive Television Archive News Search ServiceUploaded by TV Archive on