d the fact that they found one guy with several hundred million dollars of assets all over the world. >> i thought the question hold up the letter was interesting. >> prof to be consistent >> that says a lot all right. thank you for watching "power lunch. >> "closing bell" starts right now. hi everybody, welcome to the "closing bell," i'm kelly evans. >> and i'm bill griffith earnings once again in all force today as it has been this week a number of positive reports powering the dow higher. although we are well off the highs of the session right now after the bell tonight, we have facebook leading the way, we'll tell you what to expect from those numbers, as you saw there, some of the other major preparations with pretty good gains today. >> and dow components, bowing in particular pushing that index higher, it's still up 76 after the fed's decision and shares

are soaring today after earnings we're going to have ben axler who was sure to tell us what he's doing with the stock now. >> first, let's get to our closing bell exchange for this day with the dow up 78 points in record territory samantha is with us. she's at post nine with steve grasso from stewart frankel and rick stan telly, i'm sure is still reading over the fed's statement that came out an our ago. it's very extensive there. >> you know, steve, we were talking last week about how even when a company reported better than expected numbers, the move higher for that stock was limited whereas if they came in below expectations, they were punished greatly this week, a whole different mindset it seems >> whole different script. >> when you come in with different numbers -- >> i think this market is really, i use the word torqued

i feel it is torqued to want to trade higher waiting for an event to make it go all in. last week we had netflix trade up 9, 10% after the print. today, boeing, you start to see these things where different pockets of the economy want to show some positive or bullishness. i think it's going to continue i think you're going to see reasons to rotate into energy, into the things that haven't performed. we've seen rotation into financials already, they've been strong already i think the overall market with the passive investing and with etfs and people wanting to buy as a whole i still they exists. >> for sure, and samantha, what about the decision from the fed today? little bit of movement n. averages in the vix, the volatility gauge just go below nine right around the time the statement was release what happened are your takes? >> nothing surprising from the fed which we had all come to expect i think the market-moving event is january 2018 when we get a new flavor to the fed. the market's comfortable with

janet yellen >> new fed chair not an entire new fed, but a new fed chair who will dictate hawkishness, dovishness. the market can move higher interest rate risk isn't on the table because we know what we're getting from janet yellen. >> when the fed announcement came out, the dollar, huge move lower, what'd you make of that we saw yields come down as well, but i mean that dollar index, good there >> oh yeah, 9350 is now for the dollar index and i don't know if they can show a chart what we're talking. intraday or take it back a couple of years. listen, there's been a stencil all year, okay, we could talk about the dollar weakness, it's really that the world's enamored with the euro, ennam mored in european products and markets and i understand why they're getting a bit of a wave going, but that does ignore a lot, and it's the ignoring part that i think is the hard thing to trade they have a lot of issues. you know, if you think our exit's going to be messy, wait

until drogy starts to write exit on a piece of paper. it's going to be a tough one i think our market's made perfect sense. the issue isn't whether the markets are comfortable with balance sheet reduction or not if there's one thing, the fed has taught, anybody who's investing since 2007, it's that they're going to go slower, take more time, they're going to really fret about what the market thinks about every little thing, investors have learned that so they're not going to panic when they talk about reducing the balance sheet, but they may behave differently when they actually do reduce the balance sheet. and i think, you know, the feds never really been good at reading the markets in my opinion. i've been studying them for many years. i think they're better and more comfortable with models, but the market's a great model in and of itself and i continue to say that before now, everything is going to be gradual, stocks, volatility, the dollar weakness, the euro strength, i don't see anything changing that other

than a shock that nobody would expect >> i'm reminded it was jon paul who wrote the book "no exit. >> did he? >> nausea, i didn't know if you were going somewhere with that >> commenting on ecb policy at that point in those early days >> how about the dollar? these moves have been dramatic already. now we're down another half a point. the euro was up at 1.17, the yen is surging there's going to be ripple effects. as much as u.s. stocks might benefit. that's a tightening for everybody else >> it certainly is what i find is odd is that some people can look at this statement and the fed and say it was hawkish. you look at the gold action, if it you look at the market as a whole, there was nothing that could be concluded as a hawkish statement. this is to rick's point. this is dovish

the financial conditions in the country are at their best, lowest, easiest since 2014 so it's actually more than offset any kind of tightening that they've already done. >> you would think this would give her room. she did not want to spike the dollar this would be a tail wind to her to kind of get on with the matters at hand and we're not really seeing that she's sticking to the script >> exactly and samantha, did i see correctly that you like the financials here? >> we do >> can financials do the short term rates are going up? will they still go okay?

>> yes our view is that the two year end down is relevant to banks with profitability of loans, ideally the curve would be going up, but it doesn't have to happen. >> before you go, energy, you also like that so is that a bet that we're actually going to see rising energy prices here so within energy, selective. different slices have a different beta to oil prices so we are being very tactical versus upstream and downstream >> so selectively so then. >> selectively >> folks, thank you all, appreciate your thoughts on today's market action. see you later. >> it not only beat the street, but raised it's guidance but if the profit margins and

the cash flow, that's what a lot of people on wall street are talking about today. and especially when you look at operating cash flow, it was almost double what most on wall street were expecting. most were expecting operating cash flow of $2.5 million. nope came in at $4.95 billion, and in if terms of raising guidance, they are straightforward 2017 cash flow will be increased by $1.5 billion. will now total more than $12 billion for all of 2017, and i talked earlier about earnings per share, and they raised guidance they are now looking for earnings to come in for the full year at between $9.80 and $10, that's an increase of 60 cents there you see the move today, biggest move for boeing since august of 2009 compare that with what we heard from ford. yes, it did beat the street. a lot was due to the fact that they were getting benefits from the tax rates that the company was paying, and so as a result, a lot of people said, well,

what's going on with the underlying business. and the underlying business, it's in the midst of being reviewed and realigned by jim hackett. again, they're dropping tax rate from 30 to 15% hackett is almost down with his business review, 100 day review should be done probably some time in november, early october, he did say during the conference call today, i see opportunity in every area of the business one area that got a few questions on the call today, look at the difference between gm and ford. not just in terms of stock, but in terms of profit margins in north america, gm has far higher profit margins than ford and that was brought up by a number of analysts. you can bet that jim hackett, he has a number of things to turn around, guys, and on the call today he said i'm optimistic, but we have a lot of work to do. >> look, if he could get jim harbaugh, phil, i mean, come on.

this guy can do anything, right? >> that's where the optimism in deere born comes from. >> very good, thanks phil. see you later. >> you bet coke is the other big dow component reporting earnings today. let's get to don chu with that and other movers. >> coca-cola doesn't carry the same weight as boeing, but it is adding three or four points to the dow today. reporting profits in sales at both topped average analysts estimates. the beverage gianted raised it's full year forecast supported by newer and healthier product lines amongst the other factors at play. this is the company's first kpaert under any chief executive james kwinsy now in an interview with sarah ison coca-cola continues to see head winds in places like emerging markets. but also developed economies as well europe and north america in that mix delivering some stronger results now. now if we move on to some shares, at&t hitting an eight

year high on the heels on a beat on the top and bottom line at&t lost 199,000 subscribers, but it was offset by gains in it's directv online streaming service. the company also said it expects to close it's acquisition of time warner by the end of the year on the downside, health insurer anthem, rising enrollment in it's health care plans provided a lift with earnings and it's sales. the company also said it might leave more individual markets over obamacare funding, that news putting shares under a bit of pressure, the stock is down about 3% on the day, but very interesting, some of these movers boeing certainly the talk of the dow today, coca-cola getting relative strength going towards the end of the session today, guys >> now, overall, they said soda sales were flat, but the one bright spot -- >> no pun intended >> well yes, i hadn't thought of that anyway the one bright spot was their new drink that's done well in europe, and that would be new

version of coke zero called coke zero sugar, which now they're going to bring to the united states here beginning next week. yet another variation on the coke >> sure, coca-cola's not the only ones doing it a lot of other beverage manufacturers out there are substituting other sweeteners in there, the real sugar, i wouldn't call it a craze, but the trend has been an interesting one as so far as some of these new healthier products are concerned sugar obviously not a healthy option, some people are looking beyond some of the artificial sweeteners that have been used in the past. it isabout trying to find the new products and staying ahead of the consumer trends so they can keep that growth accelerating going forward >> so it's got no sugar, no calories, presumably no caffeine what is exactly in there water. >> is the sugar because it's real -- coke zero but real sugar? or coke zero sugar >> yeah. exactly. >> full circle back on the diet coke. >> or maybe just water

or dasani. >> you go to the market and look at the whole spectrum of what they have available is just ridiculous just give me a coke, that's all. thank you, dom >> you got, guys >> see you later let's take a quick break here 38 minutes to go hanging on to a gain, but down for the highs of the session today. lost some altitude after the fed's statement was mentioned. it was interpreted and the dollar down big and the volatility index down too. russ ls in the red >> those three in the green are in record territory right now. >> dow and then anything higher for the other two, i think. >> yes, yes. >> mad money's jim kramer talking with the ceos of mcdonald's and city today. joining us next. facebook shares rallying more than 40% so far this year coming up, a debate on whether you should be selling the stock ahead of it's earnings which are due out until less than an hour. and we to want hear from you. reach out to the show via twitter, facebook, or send us an e-mail, closing bell

sisschg bcfit , rsin bune worldwide where's jack? he's on holiday. what do you need? i need the temperature for pipe five. ask the new guy. the new guy? jack trained him. jack's guidance would be to maintain the temperature at negative 160 degrees celsius. that doesn't sound like jack. actually, jack would say, hey mate, just cool it to minus 160 and we're set. good on ya. oh yeah. that's jack. good on ya. when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected.

that's the power of and. 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. welcome back, we're looking to see if the s&p can stay in positive territory today the dow's up 82. >> that's getting close to the record now for the s&p >> 2477. >> something here. >> yeah. kramer will have it off the top of his head. >> it is the very close. very close >> ulta beauty may be teaming up with violate gray, i had to look

up this whole violet gray thing, that could land beauty brands. rumors of amazon entering the market started surfacing after it announced it's acquisition of whole foods. ulthat down 3% today >> i just, recently learned about ulta always late to the party on these things meanwhile, mcdonald's ceo steve easterbrook sat down with squawk on the street earlier today. announced the biggest jump in global sales in five years in yesterday's earnings report. shares are lower, down nearly 2%, they hit an all-time high earlier. and addressed the impact of technology on his industry this morning. listen >> i think what you're saying is a lot of traditional industries are getting disrupted by technology have they caught odd discussions, why don't we be the ones to disrupt ourselves rather than wait to be disrupted?

off choice either be the disrupter or you're disrupted so, technology's going to play a part on that that's why we're dump doubling down on or commitment. more and more rapidly. and, you know, i've said yesterday on the call. today is the slowest the world's ever going to be moving looking forward. it's only going to speed up. you have to drive that pace of change yourself. and i tell you what, it's fun to do that. >> mad money's jim kramer joins us now, jim, a very big day. is this all about one dollar sodas, better sandwiches, there's a lot of changes here. >> absolutely. he's talking about getting the body into the franchise. you innovate, he's been like the president, and he's got to get congress which is the franchisees to buy into his ideas. so what he said is look, we have to have more technology, we've

got to do more pay we have to get much more savvy about how we do mobile pay so they don't have a mosh pit problem the way that we saw the paer in ra had or that starbucks ha h they report tomorrow and it's weak again because they haven't worked out mobile pay. and there's uber eats. wants to bring the stuff to you, and you know what, stay hot, you want the fries that way, he seems to think yes >> so, wait a minute, so okay, all day breakfast, that was a hit. the made to order sandwiches, that's a hit but are we saying here that it's technology that's going to carry the day for mcdonald's >> he's saying that we have a better throughput and they're going to get better throughput through mobile he's got this great thing, he has incubators, laboratories, the country of poland has --

we've got mojo coming from him, it was good, but in the end, that comes down to the idea that he's leading people, they're excited, they're adding shifts, adding more people to franchises and stores are cleaner, it's kind of a beautiful fly wheel he's got going. >> look, jim, i've joined the ranks of these people ordering -- i can order lunch on my mobile phone now and pick it up i don't have to wait -- it's amazing. and i don't think i can invest in dig-in right now. who else has got the technology, jim, to be the next panera, mcdonald's where else can we look for people doing that? >> darden is doing automatic menu stuff at olive garden that's a lot of fun and gives you games there at the table i have to -- we really -- starbucks was really a pioneer and starbucks is fallen so far what steve emphasized is that mcdonald's, they can make the stuff faster, when you come in, there's to fight, cut in line, here, they have it for you

he knows i'm a big o fish in a doe of mcdonald's and knows that he's in a friendly audience because i just love -- i have to admit, i love an egg mcmuffin after a hard saturday night. nothing like it. >> i like the biscuit. >> starbucks, all day breakfast. it works. >> jim, big interview with citigroup michael corbett. we to want take a listen >> do i have to worry about amazon and your credit card business >> you know, people talk about the amazon effect. one thing i would say there is what people missed is when you think about the amazon effect and card usage has actually gone up sure amazon has benefitted, but others benefit today only about 20 to 30% of purchases and stores happen on credit cards, about 100% happens online with credit cards so we benefit from that and if you think of our partners, home depot, and american, and costco and all of those, we've

definitely got to benefit from that >> you know jim, it almost makes me think, if only the likes of paypal hooked up early on and been able to just disintermediate like they always meant to worked with ebay, paypal is partnering with the card companies and merchant stores and everything else. so the big card companies, they like amazon and there's no competitive threat there, or is there? it's worth a lot more. one of the everybody does it online, you're right that would have been a team up that could have been brutal for everybody else one of the things that -- by the way, we finally see what it looks like this is the first time he's ever done tv. he got the costco card from american express that was a critical massive business that has made this company much more into a card and financial tech company than most people realize. he's really trying to get a higher price turning he's trying to say listen,

people, our bank is just as good that you pay 1.8 and 1.7 times book if you do did that obviously, you would get to $100. >> i'm glad you're hear, jim, i've been glad to say that i think they've been overdoing the effect every time they announce a new strategy or there's a rumor of one, they take out the food retailers. they take out the clothing retailers. they take out ulta today on this violet thing what do you think? is the market overdoing -- you know, this knee jerk reaction we get every day it seems >> in some cases yes, that i believe home depot, the idea that home depot is going to be crippled because that all started with amazon, teaming up with sears i'm not concerned about that i'm concerned about the paint slowing down that was a problem, but the one -- when you look at ulta, bill, it's a good company, and they have a fantastic online business but you pay extremely high price for ulta

if everybody -- everybody that amazon challenges. i read the piece today about how this violet gray might come in it goes lower. and that's what this is doing. it's making you pay less for costco, home depot, ulta beauty, macy's, nordstrom, it is a price to earnings multiplier depression and it's working against all of these guys >> there you have it always good to see you, jim, thank you. >> thank you, guys >> have a good show tonight. >> and there's much more of that jim interview tonight at 6:00 p.m. eastern stay tuned, you don't want to miss it. in the meantime, we have 36 minutes left in the trading session here the dow up 85 points pushing at record territory. s&p is record territory, so is the nasdaq that would be the russell which is not facebook highlighting a barrage of earnings coming up after the bell tonight we have a debate on whether facebook's red hot stock can keep rallying or whether you should be selling into the results.

and irobot, one of the best performers on the nasdaq today thanks to a huge amazon prime day sales surge. we have the full details and what it means for the stock when we the cat a tndhe little ducky come back. >> what is that? >> i love it hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade.

pretty much an up day. and again, earnings have been the big catalyst, especially in the dow boeing up eight and a third percent today.

coke has contributed as well dow was up 129 points at this high up 88 right now in record territory. b biogen is buying from knew that will and raised it's price target by nearly 20% to $338 on the strong prospects for it's experimental alzheimer's drug. that stock at 295 right now. and cloud services provider technologies, the worst performing stock in the s&p 500 after issuing weaker than expected third quarter earnings and revenue guidance this despite beating wall street's earnings expectations for the second quarter that stock down 14.5% today, kelly. >> all right shares of roomback, a maker are jumping after the company raised guidance after prime day sales more than twice the volume on amazon's prime day this year than last year japan also has take an stock in irobot, under 5%

just a couple weeks back, we spoke about spruce point who told us he was shorting it here was his reasoning >> our thesis is one of the most powerful consumer marketing companies in the vacuum space is about to enter we bont surprised if they come in at a lower price point, they're also using a low cost chinese manufacturer called ecovax which dominated and displaced the roomback, in china. there's a misconception, it's a heavily retail traded name the core institutions have been climbing over time they have yet to deliver on anything, other than the core roomba product >> all right and ben joins now on the phone, thanks for joining us again. and i hear you covered your short position on irobot before the earnings, why? >> we generally don't discuss trading. we had it down 20 to 40% price target it did go down 20% post of our

report where he highlighted new threats to the roomba story. having said that, we're engaged in the shot. we think it's a more attractive short level now. >> so then, you don't think amazon shift your face off here? did they have one great day on prime day, but your whole thesis holds? or how do you view everything that happened. >> sure again, we don't make quarterly projections. we think this is a longer term, you know, call on irobot about shark ninja entering the market and price deflation, the amazon effect, again, remember that the core roomba was being sold at the lowest price point ever to generate sales look at this quarter, you'll see the gross margins that irobot reported in their consumer segment fell there were other one-time adjustments to the numbers that allowed them to put up an optically good quarter, but they have tax benefits. they had deferrals of expenses and sales markets to future

quarters if you strip out these adjustments, the company really didn't make any money that quarter. and so we continue to see struggles and words that the company's using such as our business is maturing and competition and the need to hire more finance and accounting people these are not bullish statements, in fact their bearish. >> what about the variable of the amazon effect? we were talking with jim kramer about that plenty of other companies have seen both a benefit and they've been taken out in shock, depending on whether they're a kpet for or partner of amazon. how much will they benefit partnering with amazon with these kinds of sales >> these aren't new partnerships they've been selling through a long time. and selling through their distributors for a long time, now they're buying their distributors buying them at low multiples, you know, we're taking a deeper dive here into why they're buying these distributors, we're in the process of getting the foreign financials from this, you know, european distributor

to really dissect what's going on here. these are not, you know, again, these are more defensive measures we think the company's taking, buying distributors when they could be buying, you know, more rnd, more technology to evolve their product, instead, you know, they're buying distribution partners which we think they need to scrutinize. we're going to do the work and share it once we finalize our conclusions. >> yeah, exactly i've seen this play out where you can get these things much more cheaply now i have traders e-mailing saying they don't buy that you got out of stock just no in time to avoid the rally. what do you say to them? >> look, being a short seller is driflt there are multiple levers that they can try to prop ul investigate the stock. they announced that soft bank is taking a position. let's analyze that a little bit more carefully soft bank has a $93 billion fund and here they are spending $100 million on a robot, irobot position that's ten basis

points it doesn't really give us a lot of confidence. you've seen soft bank acquire whole robotics companies if you look at long-term fundamental owners, they've all been selling down and they've sold, you know, through the multiple quarters and the multiple guide-ups that irobot has done take a step back think big picture about what's going on, what the company's saying, the margins that are deg dating and you have to be cautious in the longer term which is where our call was placed >> but, i know you don't like, you know, talking about your trading in the short term, but disclosure here. say you covered your position before the earnings. are you building a sured position right now with this 20% increase in the stock? now it's 107, it's marginally higher, we still like it

nothing is fundamentally changed. in fact, we've gotten more embolden with ourshort thesis seeing that the company he's had to go out and buy another distributor. we pointed out numerous financial control issues with the japanese distributor they haven't addressed any of it in fact the only statement they've made is they need more finance and accounting people. why? because there's certainly control issues there now again, this quarter, just strengthens our conviction and the price level is more attractive than ever before. >> all right thanks, ben. nice to talk to you again. >> thank you. >> appreciate it thanks guys. >> ben axler of spruce point >> time for a cnbc news update. >> here's what's happening at this hour everybody. before a subcommittee, treasury secretary steven mnuchin questioned amazon's practices. >> i am encouraged that amazon is now charging tax, i believe,

on their own sales, but not the marketplace. not sure i understand the consistency on that, but, you know, i respect the state's ability that there's an awful lot of money that's not being collected. >> antigovernment activists hope a nationwide two strike that began today will help topple the venezuelan government. the streets were quiet this morning. most businesses closed while observing that strike. he wants to rewrite the constitution to resolve the country's economic crisis. and pop singer rihanna arriving at the palace of the french president this morning greeted by france's first lady the singer is an ambassador for the global partnership for education. she later met with the president macron that is the news update this hour sending it back downtown to you, kelly. >> i know why she's there. can you believe this i know a pop culture -- >> i saw the story, yes? >> because of the ovie >> no.

>> i think that's why she's there. >> i thought this was after an investment in a children's fund -- >> she was there -- >> but that's not part -- >> go ahead. >> it's separate she's there for several reasons, but, this particular meeting was -- and we told you about bano meeting yesterday they are both working together with the same organization to promote education for children, specifically in africa, and she has been trying to get the french president on board. that's why it's almost like they're double teaming each other. >> yep and there's a reason we don't know she was there because nobody saw it anyway >> i tried to do pop culture completely wrong >> yikes >> it's huge in france it was a french comic book the whole idea was to get this big opening there. >> right, exactly. >> bill, that was quite a zinger, right under the radar there. my my. testy today. >> oh. >> i'll see you in an hour >> 25 minutes to go still. >> thanks sue. 84 point gain.

s&p is still positive. just slightly. we had the russell down, yeah, about seven points, nasdaq up nine, and the senate is getting set to vote on a motion to send a health care bill back to committees we'll head live next to find out whether it'll pass and what the outcome means for the bill >> am i testy today? plus, earnings, facebook, gilead, buffalo wild wings, paypal and just a few of the big names set to report earnings after the bell tonight complete coverage of all of the results and a muchic ner bill. coming up. >> the health care bill? for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide.

prevagen. the name to remember. what if we could bring you by having better values? at blue apron, we work directly with more than a hundred family farms. so instead of spending on costly middlemen and supermarkets, we can invest in the things that matter most: making farmland healthier. cutting down on food waste. and bringing you higher quality, fresher ingredients for less than you pay at the store.

because food is better when you start from scratch. get $30 off at blueapron.com/cook to keep our community safe. before you do any project big or small, pg&e will come out and mark your gas and electric lines so you don't hit them when you dig. call 811 before you dig, and make sure that you and your neighbors are safe.

811 is available to any business our or homeownerfe. to make sure that you identify where your utilities are if you are gonna do any kind of excavation no matter how small or large before you dig, call 811. keep yourself safe. 20 minutes left in the trading session with the dow up 85 points in record territory. joining me here at the telestraiter, mark newton of newton advisors, you want to look at copper and, you know, e con 101 tells us that as copper goes, it's been in breakout mode. you look at longer term down trend that we've seen.

copper has followed suit and broke out after the election just in the last couple of days, we've actually exceeded the higher that we all earlier this year obviously the dollar is declining sharply since december all of these have helped emerging markets they've helped some of the base and instrumentals show signs of life >> does this become your next target >> no, i think we get up there around 328 it's tough to make too much just yet. 328 would be a retracement since 2011 so it's tough to shoot for the fences just yet and say we move back up to new highs, but still a meaningful move for where we are at 286 and if anything, it means that,

you know, it's good to look towards hikes potentially in december, if the stock market holds up and economic activity is certainly telling us something different based on what copper and bond yields are maybe than the nay sayers. >> that's for sure good to see you, mark, thanks. >> thank you very much >> thank you, guys 20 minutes to go the senate expected to take up a series of health care votes this afternoon. kayla toush has the latest, kayla. >> the votes are going to include a vote on a stand alone repeal, or a repeal and delay. and then that will be followed by an effort by the democrats. a vote to so-called recommit the process back to the committee level where they would start with hearings and start basically from scratch that is expected to put some pressure on moderate republicans who have been critical of the process thus far but neither of those motions is expected to pass that's going to create the need beginning tomorrow to cobble together a bunch of amendments

and build a new bill from scratch, and that process is what senate majority leader mitch mcconnell has said he hopes to wrap up by the end of this week. the white house is still in hard core sell mode with the president tweeting again his criticism of the republican senators that have come out against these various motions. take for instance his tweet this morning against murkowski of alaska who voted against the motion to proceed yesterday. he said murkowski, quote, of the great state of alaska really let the republicans and our country down yesterday, too bad. murkowski telling nbc news, she believes this process should be about governing, not about campaigning and she's not worried because she's not up for reelection until 2022. we'll see where that pressure gets elected, and we'll bring you the count as we get it kelly in the next hour or so >> let's cut to the chase. slicing and dicing and different variations what's the end game here, do you think? with this 20-hour debate process

that we're going through right now? >> well bill, a lot of the debate sprosz going to be taken up by democrats trying to install various delay mechanisms we saw that yesterday when they -- when they urged the full reading of the bill that they were voting on but, as we said yesterday, this is likely going to end up as a skinmy repeal where you see the majority of the taxes, except for the medical device tax left in, you see the mandates, the individual, and the employer mandate repealed that is something that doesn't necessarily have widespread support at this point, and even mcconnell has said it's impossible to know exactly what this something going to look like we'll see, but the skinny respiel expected to be the most likely scenario, it's just unclear where the support is for that >> all right very good, kayla, thank you. kayla tou she from capitol hill. 16 minutes left in the trading session. here the dow holding steady here with a gain of about 85 points

>> we've had a ton of earnings today, facebook and more after the bill and up next, bull and bear will offer their take on whether it is time to buy or bail on the social networking giant. chinese mobile tech supplier fox con has moved by nine states here in the u.s. weft inside track on the top state to land the plant and the jobs, coming up. (upbeat dance music) (dance music abruptly stopping) (dance music starting then stopping) (upbeat dance music) (upbeat dance music) (bell ringing)

dow's all-time high. the now the s&p is negative and so is the russell 2000 hershey a beat on earnings and revenue this morning second quarter net sales in north america were higher, but chocolate maker took a hit in it's international division which saw a sales decline of 3.6% for the quarter that's driving the stock lower.

we're wondering whether investors should be buying ahead of those numbers >> here to debate it and set us up for the earnings. ben dunbar and james who is on set with us. welcome to you both. >> we're happy to be bullish at this point, but right now, the most positive part of facebook is instagram okay the visual as you're seeing on instagram are so engaging to people, people are using it, and we just saw it just dominate snapchat in just a few months. the biggest part is especially from instagram >> you're cautious you're not exactly a full bear in this case and this stock, let's face it, has had a great year so far. just valuations. >> i have to watch what i say, every client loves this thing. at the end of the day, what you have to think about is what is the bogey in terms of and cost

of currency advertising. he's emerging initiatives and are we really putting the cart before the horse here? >> you make it sound like you're apologizing, you don't have the same point of view for your clients, if this is how you feel about the stock, then stand up for what you believe why not be bullish like everybody else >> you must feel strongly about that >> here's what you have to consider, off company like google, who in our opinion put up rock solid numbers.

>> you're killing me, it's hard to argue against you the pipeline for facebook is huge right here, and yes, you know, we're not crazy about the content. that is a gamble, but facebook does a little bit better in our opinion than google is looking at things that are going to have quicker results. take instagram stories it only took eight months for more users than snapchat they have a lot going on -- >> ben, china has been moving to crack down on what's up. we don't hear a lot about when it comes to facebook lately. look, it's a huge messaging service. how important is that business for them >> so, what's up right now isn't a major revenue driver right

now. they have over one billion users and how they monetize that is relatively unclear and they're going to be conservative in how they monetize that the other crackdown is cutting out some effect. i actually just got back from argentina, every single person there, including my friends in the united states are using what's app even people with iphones aren't using that that's going to continue to keep people on the facebook platform. you have messenger facebook is making sure that no matter what part of facebook that you like, you're going to be utilizing it. you know, i post something on cnbc, i post it onsnapchat, minimal engagement, instagram, crazy engagement the different mediums from facebook are going to effect different people >> that's fair i mean it's my brother in china. when you're investing, you also have to make sure you're timing the investments correctly.

when you're comparing this and consider it. we've had a huge run. >> am i wrong then to have a five year outlook when i want to invest in a company. >> no. >> that's one of the things. then forget about it >> then that's the point of investing. >> this is hard-hitting news right now. >> bill, you're preaching to the choir here our clients aren't investing for one year we love facebook for the next five, ten years. they're making all the right decisions and they're a cash flow generating machine. and i actually still think there's a chance that they can upset here, in a good way because -- go ahead. instagram stories is killing it. that's basically why we're likely going to see that >> quickly, james, you think there's other opportunity in their peer group i assume you're talking about the think basket generally there. tomorrow we had netflix last week pop on it's earnings.

google sold off a little bit who do you think is in a better position right now and why >> i mean, the way i'm looking at it, who has a secular momentum and at the same time, who doesn't have the regulatory risks over it? i'm looking at companies like paypal, i think that's an underappreciated name. huge secular momentums on the payment side, expanding to android and ios payment, the point of sale, which we're moving to a cashless society so things like that are what i'm -- there's a lot of scrutiny around a lot of these big names. just got to, you know, deal with it. >> we'll see what happens here tonight. >> five minutes. >> exactly >> ben and jaimtz with sweaty palms. waiting to see what the numbers look like tonight. all right. we've got a little over five minutes left in the trading session here the dow and the nasdaq are headed for records, s&p and the russell are lower. >> if the nasdaq closes at a record, it'll be the 44th one right now. >> wow >> it's been quite a year. we'll get into something

like it on the closing count down momentarily then after the bell, earnings, facebook, paypal, gile gilead, and among others we're going to bring you the results and instant analysis coming up, stay with us. we check our phones 85 times a day.

so it only made sense to create a network that keeps up. introducing xfinity mobile. it combines america's largest, most reliable 4g lte with the most wifi hotspots nationwide. saving you money wherever you check your phone. yeah, even there. see how much you can save when you choose by the gig or unlimited. call, or go to xfinitymobile.com. xfinity mobile. it's a new kind of network designed to save you money.

(baby crying) ♪ fly ♪ me to the moon (elegant music) ♪ and let me play (bell rings)

heading to the last two minutes with the dow up 95 points in record territory we may be going back to capitol hill for an update on that senate vote on the latest version of the health care bill. let's just keep a focus on the dow here in record territory as i mentioned, and today it was another earnings blowout that caused this gain and today it was boeing boeing up 8 and 1/3 percent. it's a huge gain for one of the big dow components and that accounted for all of today's -- without boeing, the dow would have been negative today. interestingly. after the announcement about keeping rates unchanged, the dollar index just changed. and the dollar is at a virtual two year low against the euro.

the euro rising on that day. okay let's go to kayla tou she at capitol hill the latest on the senate vote on health care. where are we now >> officially as we expected a few minutes ago, the vote to repeal only so that 2015 bill, that has failed. there are at least three senators on the republican side who have come out against it capito collins and heller, john mccain also just a few moments ago voting against a as well so there is not enough republican support for that to pass with a majority as we expected back to you. >> all right thank you. we'll get to the next incarnati incarnation. let me just point one more thing before i get to bob. you can tell your grandkids some day, kids, that you saw the vix with an eight handle which happened today 884 was the low. >> on today's strait i just to want talk about facebook, one of our favorite companies. one of the favorite new metrics out there, not an endangered

species. average revenue per user and that's the key method that everybody watches on facebook. and we're looking forward to being a better than 20%. and that will be coming out shortly. >> along with paypal, gill yard, and buffalo wild wings and kelly and company. see you tomorrow, kell thank you and welcome to the closing bell we have more record closes here on wall street looks like the dow is up 65 points, 21,709, just watching it as it shakes out here. that's the first time the dow has closed about 21,700. less than 300 points away from 22 k that's about 25 points -- 30 points higher than the previous record close looks like boeing was up 10% on the bell there, incredible increase for such a big cap

company, especially when it's been on the run. boeing has been on s&p 500 did turn positive just on the bell there with the gain of less than a point to 2477 for the broad index. the nasdaq, by the way, the s&p, i believe, also closing at a record as long as it hangs on to a positive territory there the nasdaq at 6422, it's the 44th record close this year for the nasdaq 0.16% gain today and we're about to get facebook's earnings in a moment here and the russell couldn't quite join the party with more dollar weakness again. the russell down half a percent today about eight points as i mentioned, it's going to be another monster hour for earnings here. reporters are standing by to bring us results as they come in julia on facebook, and dooerd ra paypal looking at gill yard, leslie, and susan lee will bring us results from buffalo wild wings. thank you, everybody and we'll see you in just a moment as this all starts to fly out. joining me on the panel is michael san toely, also john

augustine, huntington bank mike, real quickly, we had the fed meeting today. we had the volatility gauges bill briefly mentioned, below nine, these are multidecade lows basically. >> yes >> what do you think overall the markets are doing? >> reflecting the extreme calm we've seen there's a huge asterisk next to the dow today. this is a flat market. i think the snrge flagging in terms of buying interest right now. maybe the market does need a breather as opposed to any major setback. >> what do you think about boeing up 10% on the bell? >> well hey, hasn't mike been saying that for the last six months and it keeps going up. i don't know where the breather is -- >> how much is the market up in the last six months, dennis? >> as it relates to boeing, kelly, you know, the dollar really comes into focus when you see a lot of these big exporting

companies and the dollar has gotten weaker in the last month. huge export like boeing is going to have a disproportionate impact the earnings were good, but it's really about the future earnings going forward for boeing and a whole host of other companies that sell a lot of things to a lot of countries that have to convert that into dollars going back the other way >> what have we done in the last six months >> yeah, i think we need to be reenergized a little bit just to echo what mike said about malaise potentially. what we saw today was not only buying in stocks, buying in bonds, buying in commodities, and you talked about the copper already. so we saw pretty healthy

circumstance today >> you like the copper >> you think this is an economic deal, john >> it seems to be an economic deal it seems that the commodity market think oil, think copper, actually think some of the greens too they've woken up almost over the past week and a half, and arguably that's good, we're seeing quite a few of the metals go up, palladium, alum numb go up it's probably local as well as u.s. again, arguably good for investors. >> yeah, let's look at the dollar index real quick, mike. that's the flip side here. 93.5 today >> yes >> it just continues to move down sharply and by the way, that undoes the tightening the fed's been talking about doing. >> exactly in fact it was a weak position, i almost wondered if any hawkish words from the fed will cause a real relex bounce the other way around more of the same, we're not expecting an aggressive central back response. as you say, financial conditions just remain that much looser,

that much more favorable maybe that's it. you don't have to overthink beyond that in terms of where the smarkt sitting >> let's turn to the earnings after hours now. gilead, meg has the results. >> this is looking like a huge second quarter for gilead, kelly, beating on adjusted eps and revenue. adjusted basis coming in at $2.56 versus 2.15. revenue of $7.14 billion beating expectations of $6.35 billion. we always look at the hepatitis c sales numbers. those coming in after all three combined worldwide, $2.87 billion in the second quarter versus analyst expectations of around $2.3 billion. the company also raising it's full year product sales, guidance, to 24 billion to $25.5 billion. that's driven by both hepatitis c drugs and nonhep diet c drugs. a lot of news driving gilead higher call starts at 4:30, bring you anything more, kelly >> meg, quickly, i wonder if

it's not a more outsized reaction because the challenges for this company are known, and it feels like all the investors would rather have this do a big acquisition. >> yeah, and if you look at the amount of cash they have, that's why they're talking more than $30 billion in cash at the end of the second quarter. the hepatitis c franchise has been lagging, growth is slowing. the fact that this is beating here is going to make investors feel good today. >> all right meg, thank you gilead up 2.5% moving the other way is facebook let's look there still getting the full results through, but it looks initially like it was a bottom line beat still the shares down about 4% right now. for facebook there julia is ready let's find out what's going on, julia. >> hey kelly, that's right, facebook beating on both the top and bottom line earnings per share of $1.32, beating estimates of a $1.13 in terms of earnings per share rvs also beating estimates,

coming in at 9.32 billion. versus estimates of 9.2 billion. looking at those engagement numbers, daily active users grew to 1.32 billion, that's pretty much on par with expectations, monthly active users grew to 2.01 billion this up 17% year over year, and that's higher than the 1.98 billion that's expected. now, based oen that, looks like 66% of monthly active users visit every single day now if we're looking at why the stock is trading down, one thing to note is that the average revenue per user, because the user base grew faster than expected, the number seems to be slightly slower than wall street analyst had been expecting now just to go through the rest of the key points here the company says the capital expenditures were 1.44 billion head count increased 43% year after year and zuckerberg having a quote here, the community is now two

billion people and bringing the world closer together. but that declining stock there might be a reflection of the fact that arpu is not growing quite as fast. >> we're talking about average revenue per user ask sheryl sandberg what's going on there the estimate was 471 >> it looks like we're calculating $4.63. we will talk to sheryl alexanderburg any moment and bring you all of her comments about what's driving those results in the corner. >> and the shares stand a little more than 3% julia, thank you for now, michael, what do you think? >> very good numbers across the board. you're not going to cripple except on the number and i think there is going to be a focus on cost and whether there is enough kind of earnings leverage right now if they're not monetizing enough in terms of reducing the ad load and the rest of it head count up year over year, that's almost exactly what

revenue is up year over year essentially, they're not just harvesting, they're still investing. >> how many employees instagram has now. remember when they were purchased and the whole idea was a 13-person company and this is the sign of what's happening in the economy. >> i wonder right now, is instagram operated as a separate unit or just kind of product b and are they going to monetize it that's a conference call by the way, stock also up more than 40% year to date. came in at a high, is you're going to have a giveback big sell on the news response to even good earnings. >> dennis, what would you add? >> michael has a lot of good points there i would say if the consumer count is growing faster than expected, the arpu is by nature going to be lower because there are penetrating markets where people have less money to spend and advertisers want to spend tloesz reach them. it's a very, very high class problem and facebook has got every high class problem a company could want >> dennis, what you're basically saying, this company is looking to the likes of india and

emerging markets for growth, and that makes it harder for them to put a bunch of advertisements on, for example the mobile product? >> exactly, the end user has tloesz spend and less of an opportunity. i think we need to marvel, just far moment take a vow of awe there, two billion people, it is incredible there is nothing ever been created like. >> reporter: and that's every month. john, you're a shareholder, right? so you're looking at $162, how long do you guys hang on to a position like this >> well, we hold it in two of our three internal equity portfolios we like the numbers we heard one of the things that caught our attention too was viewers going up faster than some of the other components, which means they're going to have facebook is going to have the ability to monetize those, moving into the future so, our equity team would say, this is a solid quarter, we're going to hold it, and the two portfolios and we have it now. >> and the stock is pairing it's loss it's only down about 1%

right now. we're going to come back, but let's get to results from paypal and deidria has that report for us. >> hey kelly, yes, paypal reporting and continuing it's streak with another earnings beat this company, the payment's processer beat earnings every quarter that it's been a public company. earnings per share, 46 cents versus 43 cents forecast that's up 27% year over year slight revenue beat as well at 3.14 billion that's up 18%. i also to want bring you guys a few more metrics, total payment volume, 106 billion, roughly in line with what was expected. 36 billion for mobile. that's up 50%. continues to make that transition and get a lot of mobile yudsers that is the peer to peer payment app, saw $8 billion in total payment volume, that's a more than 100% increase year over year paypal also raising it's fiscal year revenue guidance and increasing it's eps range to $1.32 to $1.36, that is the

range now. it's been a big quarter for partnerships for paypal and announcing two more just now with china and bank of america checking in on those shares, not seeing movement. paypal, shares not moving a whole lot there. up about 1% in after hours trade. this is a stock that has surged some 50% so far this year. and it is trading very close to all-time highs guys, just quickly as well, six and a half million active customer accounts added, that's up 80% very nice quarter from paypal, back over to you >> dooerd ra, thank you. michael, good reminder, maybe put a silent p at the beginning of pang. that's what he was saying the last hour, this is another payment's platform, can we start lumping it together in terms of it's size and growth prospects >> if you're going to make the any of they 50 of 2017, paypal would be it. you have to get beyond the four, five, or six stocks, goldman sachs talks about end fang with

microsoft in there as well, i think the reason people have loved this stock and the reason that paypal by market cap is twice as large as ebay, which it split from two years ago, they think it's in the middle of the monster trends obviously e commerce and the electronification of money maybe it's a wake-up call that venmo is eight billion out of 106 billion of transaction volume it's not the stock yet. >> that's true >> and might be where it's going. >> or maybe that's a good thing. you have the banking industry hot on the heels they see the huge volume. >> it's good it's there. it's not as if it's the whole business right now and you're getting a pure play. it's expensive stock like 30 or so times earnings. >> john, quickly, do you hold paypal >> not yet we don't hold paypal, we're in visa an mastercard it's one that got away from us quite frankly during the month of may when it took off. one we need to look at now we'd love a pullback on the buy side doesn't look like we're going to get it out of the earnings

report though. >> it's up 2% after hours. what are you watching here >> every dollar that's being spent in retail now, disproportionate part of that is being spent online paypal is capturing part of it these aren't megatrends. we talk about it, we brew about whether they're overvalued or not, but you know what, the performance matches the behavior of the consumer and the market lace and so, like facebook, you have to respect what it's done and it has performed. those growth numbers are impressive off a pretty big base already. >> i like some of the partnerships that are doing now point of sale where they're saying you can use your card points they had to figure out how to deal with a lot of the fraud that was happening on the platform but that's ancient history now >> couple of steps down the chain, tesla came out of paypal too. >> he wanted that to be the bitcoin. we're way off topic here buffalo wild wings is out with earnings, susan lee has the numbers, susan >> okay, kelly, we have the stock halted pending the release

of earnings. the stock will reopen at 4:35 p.m. and it's an ugly report card let's run through it eps earnings missing estimates, the street was looking for $1.05, that's a big miss revenues coming in a half billion dollars. analysts are pencilling in 513 million and same source sales, that's how you gauge restaurants, seeing a decline in the quarter of 1.2%. and as a result, bwws lowering the earnings outlook what they're blaming on historically high wing prices. lower than expected sales. promotional shifts as well to the promotional wing tuesdays and higher operating expenses, and that's why they're also declining. they're looking at declining sales for the rest of this year. just only predicting a minus 1 to 2%. back to you. >> wow thank you, susan stocks halted. it's going to reopen at 4:30

investors aren't going to take this dinedly are they still in the name >> maybe at some level there's a bid there. you have an activist investor that -- >> if this doesn't make their case, everything they've said about the customer experience, they've had ceo turnover now >> it's also in a tough spot in terms of the proposition, right? you're supposed to sit there for a couple of hours, watch a game that's not really where the casual dining area is at >> why did that work a couple of years ago? >> it's a good question. i don't know what has accelerated in terms of the stay at home -- >> the effect that they got into new areas. we've also talked about how chains are disadvantaged if you want to go out and watch a game. >> oh the yelp too. >> and delivery, that's way against what they were about. >> that's true >> you don't to want get the wings delivered. what were you going to say >> the by fur kags of the marketplace, people are willing to spend more at home. they're not as willing to spend on casual dining outside the home the food inflation outside is so much higher than it is at home seen, i think the recession

really has scrambled behaviors in a way that we've still beginning to understand, and this is just one example why do i need to go there when i have a 50 inch flat screen tv and i can have four different delivery services deliver me whatever food i want right in my home >> hot, crispy -- >> takeout they're doing takeover i think they're doing delivery which is great for things like olive garden. >> that stock will reopen in 13 minutes. we'll see the impact facebook turned around take a quick look there. the stock was down 4% after the numbers first came out julia is going to bring us more from sheryl sand fwherg just a moment let's get to las vegas here, leslie picker has those results for us. >> hey kelly, it's a beat on both the top and bottom linefo las vegas sands. that's largely helped by some of the key asia markets let's get straight to the numbers here they reported adjusted earnings of polluted share of 73 cent naps compares with estimates of 59 cents net revenue was $3.14 billion in

the quarter. that was a beat compared with estimates calling for about $3 billion in the quarter they also announced that they were purchased $75 million in common stock during the quarter and highlighted the strength in their markets as well as their singapore markets. there was, excuse me, concern that on the shares that the region had been struggling and clearly based on today's earnings with, that's not the case their conference call begins at 4:30 today we'll be listening in and let you know what we hear, kelly >> yeah les si, thank you. i was looking to see the estimate was that the macau revenues would be $1.88 billion, and they spell it with an o. that's another story we'll go down through it similar results from, and. >> yeah, seems in line both stocks have come back off the bottom as macau stabilized both are well below the 2013, '14 stocks >> do you gamble >> no, not gambling, staying

mostly in the hotel stocks, but i'll make a quick comment on buffalo wild wings this. we wish they'd do better for huntington, so we wish they would do better. >> wait, where exactly are you guys >> so we're throughout from chicago over to pittsburgh, down to cincinnati and up to northern michigan. >> i didn't if you were in buffalo itself but anyway, so you're saying that you're not -- would you guys, as an investment, be interested in buffalo wild wings at all, is that purely a comment on the dining experience >> that was a comment. that was a comment on the dining experience they're a little bit small market cap for us to be moving into. >> i see and getting a little smaller ten minutes until that stock does reopen. yeah dennis, meanwhile, anything you would add about las vegas sands and what's happening it's interesting

>> chinese state saying we don't want banks to lend to certain types of companies just the overall mood, i'd say is one of sort of a chilling effect about money leaving china and sort of the flexible wild west days. it feels like they're trying to control it at both the top and lower end. i think that's a negative for those stocks overall >> all right we have to go, gentlemen, that was a lot of money john and dennis. >> see you at the wild wings, kelly. >> yeah, i've been there that's where i first saw steph curry at a basketball court. anyway digital ads are driving facebook earnings with a projected slowdown in that area. we're going to look at what the social media giants other big revenue opportunities are next plus we'll hear what chief operating officer sheryl sandberg is saying about facebook's growth on a first

cnbc interview and another member of the fang group amazon reports earnings tomorrow. ahead, what's at stake for that etail giant which is eyeing every sector and we to want hear from you reach out on twitter, facebook, send us an e-mail and tell wt u y you think. closing bell

experience uncompromising performance at the lexus golden opportunity sales event before it ends. choose from the is turbo, es 350 or nx turbo for $299 a month for 36 months if you lease now. experience amazing at your lexus dealer.

welcome back facebook just out with it's quarterly earnings and it looks like the street did because we were down 4% when it crossed and moved higher by nearly 1%. joining us now for more is kevin landis and eli here with us at post nine from the verge. were you a buyer on the dip there? >> no, we're not every day traders and we're not after hours traders. that's a day trader squared kind of mentality, i guess. >> it is but what are your thoughts about the numbers? >> i think the numbers look pretty solid you know, everybody knew facebook was going to grow and i think everybody knows that they're actually throttling back on the growth because they don't to want flood your news feed with too many ads. that's one of the problems of runaway success. so most of us are looking a little further down the road

>> eli, what about you what do you think stands out about this quarter >> you know, you look at the digital ad market, dominated by facebook and goog federal my perspective, talking to consumers, people love google, they are fearful and distrustful of facebook. and as the next group of things happens in ai and voice recognition, machine learning, who you give your data to, who you trust with your data is going to become a huge factor in their continuing success i think the most positive thing for facebook is instagram. people love instagram. it's where the next set of money is probably going to come from >> kevin, when you're looking out to the future, what do you want to see from facebook? what has to develop here whether it's on the content side obviously facebook is sort of implicitly attacking the advertising dollar pull from tv, are they also going to have to look a lot more like tv? >> well, yeah, i mean, it could become a monster in video and right now they're the classic threat of entrance, right, there's a lot of video going on over there, but they're not really going directly at people

like netflix just yet. although, i think that's probably inevitable. but no, i think in the meantime, closer in, just look at what's app and look at messenger, and sure you can look at instagram too, there's lots of revenue streams available to them that they haven't really brought on, and they haven't started talking about and building into guidance yet. so, you know, the minute they throw the switch on those other revenue streams, they'll look a lot like the current revenue streams, but they're just plus-sized >> you say people don't necessarily trust facebook like google, that's not showing up in the company's numbers yet, is it >> i think facebook provides utility that you want to provide it, but you want to use it as you talk about video, the difference and how it's growing and everyone else's, everyone else's is intent-based go to the youtube or netflix, amazon prime to watch video. facebook's video experience is interruptive, getting ads into that without doing any of the other products rolling out >> but if people still chusz

choouz to go to the platform you almost make it sound like they're trying to get away and they have to be on facebook and then there's ads coming at them. they can just not use it, right? >> yeah, i think they could not use it i think their network effect, the economy scale is so high, the value they provide because of that number is so great they're not going to be challenged in that space as they try to layer on more and more products into that feed, it's going to become more challenging. >> and i guess, to kevin's point, you talk about what's app and messenger, and that's not what we're thinking about usually when we say facebook as opposed to -- >> does that mean those are opportunities for them >> i think those are huge opportunities. as i said with instagram people have great feelings about instagram. everybody loves instagram. i think it's the happiest place on the internet right now. very little political news how they monetize instagram and make that a product is growing in terms of revenue like facebook i think it's the huge opportunity in the newsroom. >> kevin, have we just stopped talking about snapchat there

>> i have to say, i'm going run home and google -- actually pick up my phone and google instagram troll. maybe there's one that exists out there. so, but, yeah, it's good to be in a happy place and facebook's in a very happy place right now. >> there's things i could say here look, i'm not saying that it's anything like the experience on other platforms, but, you know, certainly maybe with instagram the way it was set up from the get go, it was an invite sort of following network. i have a feeling some of the people who have a million plus followers now are getting their fair share of trolls, if you will, even on a site like instagram, don't you think >> absolutely. it's definitely there. the experience sch more about sharing lifestyle basically and the influencers on that platform, they're already making money selling products doing the sponsors posts there's a revenue opportunity there that's nay isn't a, but it's real. where i think the revenue opportunity on video, they're going to have to build and add product that isn't blaring more

ads in the feed. >> apparently we're going to find out soon what the new offerings are for the summer facebook shares are up near 14ri %. guys, thank you. kevin and eli. we to want get to josh lipton with breaking news on hewlett packard's meg whitman, what's happening >> that's right, kelly this news just crossing on hp ink that meg whitman is stepping off hp inc.'s board of directors. whitman served as chairman of hp since the separation of those two companies back in the fall of 2015 in a statement, meg whitman saying hp has now been a stand alone company from almost two years and i'm proud to have helped the company off to a great start. she, the board of directors also saying they have elected chip burg as independent board chairman he's currently president, ceo of levi strauss, that's a position he's held since september 2011 so far it's interesting, hp inc. is up about 30%. you've seen the gradual confidence build and the pc in

printing and markets hpe up about 2% so far this year, kelly, back to you >> josh, weren't we this morning talking about the ricco story that she might take the uber job. is there anything to read into this news in that regard >> certainly with this news, the same stories she was likely not to accept that offer, kelly. >> yeah, ph saying she has a lot of work to finish here and to carry out. thank you, josh. joshua lipton out west >> stock down 2.5% this is the largest rural lifestyle retail search chain. that's the bottom line, top line, in line with estimates at over $2 billion in the quarter but they have now lowered the 2017 eps guidance as well. so, let's start with the eps

guidance first now they're telling us they're expecting to make 322 to 327 a share in 2017. that's wayless than a 339 than that analysts were looking for and revenues coming in way short as well. now a guidance of over $7 billion in the quarter we were looking for a seven and a quarter billion dollars. that's a wide miss, and, you know, they had high hopes for rt spring selling season. i guess it was a bit disappointing for them, back to you. >> all right shares down about 2.5% >> stocks just about cut in half in the last 13 months. it's a broken growth stock, a lot of disappointment that isn't good e commerce strategy, not because they sell tractors, but pet food auto parts retailers, they've fallen on hard times that's a big chunk they're trying to invest in e commerce, i think they're behind. >> it is tricky. let's get more on earnings now, higher at last check julia just spoke with the coo, sheryl sandberg, she joins us

now, julia >> that's right. just got off the phone with sheryl sandberg telling me they're excited about strong performance in the quarter and though sandberg wouldn't talk about instagram ads, they're very pleased with instagram's success. >> people are using our products and services to share and connect. we're also really excited to announce today that we now have over 15 million businesses using business profiles on instagram and that joins our 70 million business pages on facebook facebook and instagram are places where people are connecting with each other, but businesses are connecting with their consumer >> of course the more businesses on instagram, the easier it is for facebook to convince those businesses to pay for apps now i also asked sandberg about the company's plans to increase it's capital expenditures by about 50% this year. here's what she said >> we remain solidly in

investment mode. we are going to invest aggressively you already see that, we're at 20,000 employees which is up 43% year over year we think we have a lot of opportunities to connect more people to help people share more to build more community. and you'll continue to see us invest aggressively. >> sandberg also weighed in on facebook's plans to launch original exclusive content, saying it's part of a big picture plan to make facebook more use to believe con assignmenters and content creators. >> our goal is to be a platform for content providers to find their audience and monetize. right now we are making early investments in kick starting the ecosystem to promote more episodic video viewing we think developing that ecosystem is important our approach, and our strategic goals remains the same it's over the long run we want to be a platform for all content providers to publish >> as for concerns that were raised after facebook's earnings last quarter that is revenue

growth will be hampered by the fact that it can't keep increasing it's ad load, sandberg told me they want to have higher quality ads, not more of them we'll be listening into that facebook earnings call which starts at 5:00 p.m. eesh and bringing you more from that. back over to you. >> thank you michael as you respond to that, the stock again and see how it's been moving around. >> yeah, i think certainly no surprise that sheryl sandberg is saying we are investing for the long-term. we are not going to shy away from the big spending plan while you're growing a top line more than 40%. i think the streak is going to tolerate that as well. at some point, there's this recognition that the stuff that has to be done next is slightly harder than just letting the network do it's thing. so we'll see if they goat that point, right now, this is a very benign response for a stock that's up so long. >> that's true, it's one and a quarter percent. it's time now for a cnbc sue herrara news update. here's what's happening that the hour everybody secretary of state rex tillersons meeting with qatar's foreign minister

reporters were more interested in tillerson's future as secretary of state one asking if he was planning on staying on >> i'm not going anywhere. >> how long are you staying for? >> as long as the president lets me >> how's your relationship with the president right now? >> good. >> the tsa is implementing some new security measures. it will require travelers to place all electronics larger than a cell phone in bins for x-ray screening. the new procedures will take in effect all of the country's airports over the next few months and coca-cola is giving coke zero a new name, a new look, and a new recipe it will now been called coke coca coke zero shug aero it has no sugar in it. it'll be available on store shelves nationwide begins next month. that's the news update kelly, back downtown to you. >> all right sue, thank you and just in time to check in on shares of buffalo wild wings. earnings missed earlier, they

lowered guidance for the year. they have reopened and down about 9% right now michael, actually, look, it was especially on earnings it was a pretty sizable miss. >> oh, very bad miss really not a lot of hope that things are about to turn you know, kind of blaming things like commodity costs and all the rest of it, and it's not a cheap stop, right? it used to be the high flier, fast growth consumer name. it still trades based on earnings just because they have not gotten growth. >> as it's continuing to trade after the reopen, it's down about 7.5% now we'll keep an eye on that of course have other earnings moving whirlpool and discover financial shares around too. still to come, verizon is a buyer. >> analyst said it should be bought and proposed marriage partner could rock the deal world. and $3 billion that's how high the incentive package can go for states looking to learn the new u.s. plan for iphone supplier foxcon.

ahead which state has the inside track.

welcome back they say black rack shouldn't be valued like an asset manager, michael. it can do better in terms of revenue growth, right? >> blackrock is in the winners columns which is obviously passive investing etfs

i don't think the market really doesn't recognize that, but of course, there is also the half the business which is more of an older style. margins are pressured no matter what i find it interesting. alibaba, blackrock, these are big, blue chip well-run businesses not the broken ones that they used to target. >> that's a good point and there's alibaba, 77 incompetent year next, verizon shares higher today after citi said comcast should buy it. that was citing synergies and less fiber builds. would it be a savvy move though, michael? >> it would be a big undertaking, obviously, and i don't know if those virtue us of the couple of problems that get solved are worth a merger of a similar sized company was about $180 billion in market value we also know that there is some kind of exploration of wireless solution for charter and comcast. do you have to buy verizon to get there or can one of the smaller players do that for you? >> do you think verizon, is it

going to be the acquiree or the acquirer >> and verizon wants a way out whatever form that might take. because it recognizes that it doesn't kind of have all of the answers and all of the assets in house. >> down 17 -- >> and of course less bold than at&t in going after content. >> that's a point, comcast up 14%. and finally today, we share these pictures that elon musk shared of a car elevator that would whisk vehicles down into a tunnel system created by his company. would you take the volvo >> the volvo is close to perhaps being retired, so yeah, i'd send that thing underground >> nothing to lose >> i kind of waiver between wow we have a glimpse of the future and big deal this is like a new york parking garage, you know, mechanism right here. >> those are very cool by the way. >> sure. >> what they can do with stacking the cars -- >> and the guys back them in there at 15 miles an hour. >> if someone sitting in new york would say you're right, just dig down label the. send these things, you know -- >> that's the whole thing.

it's like weird propaganda for this. >> reporter: but i want it to happen. >> for this crazy enormous project. >> i would be leading the way. president trump scheduled to make a job's announcement today. where apple will build it's new plant in the u.s which states are in the running is coming up and results from facebook, netflix, and alphabet leaving amazon as the only left to release earnings. e llome out tomorrow after the bell and we will preview them, next last year, he said he was going to dig a hole to china. at&t is working with farmers to improve irrigation techniques. remote moisture sensors use a reliable network to tell them when and where to water. so that farmers like ray can compete in big ways. china. oh ... he got there. that's the power of and.

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.

it's a half percent gain led by boeing up 10% on the bell today. the ruszle 2000 down a half percent. now let's check after hours. ton of earnings led by facebook and paypal up nearly 2% with julia just spoke with sheryl sandberg about the quarter. paypal is up 4% now. las vegas sands down 1% and buffalo wild wings opened about 10, 15 minutes ago and it's down 9% now amazon is the last of the stocks to report earnings. it's due out after the bell tomorrow joining us to preview those numbers are these two. welcome, guys, i don't know, i mean, what kind of backdrop do you think we have now? we've had netflix pop, google lower, facebook has been lower and then higher after the bell today. how does that set us up for

amazon >> yeah, sure, there's a certain amount of euphoria around the stocks i would argue that amazon actually one of the better positioned among, you know, within that retail universe. we know that the core business is performing very well, they're getting market and sharing e commerce also if you look at the ancillary businesses that if you look at amazon web services, that business is really firing on all cylinders they've got some major customer wins lately. so that should provide another highlight. now i think what excites us even more is the prospects of growing some ancillary businesses, think about advertising and sponsorships they're cultivating some targeting stuff that's going to help incubate that business. we expect them to have another good quarter >> okay. you've got $1,050 price target

on them. what's most important? amazon's interesting when all the customers have numbers and momentum signs that people watch, for amazon, what is it tomorrow do you think? >> so i think it's a number of things i think the overall top line, 20% growth operating profit, somewhere between half billion and a billion, that's $1.40, the problem with that is the 1.40 will be down from eps a year ago before it probably starts to grow again year to year in the rest of the quarters of '17. of course the big one is, amazon web services, and i'd be disappointed if they did not post another quarter of at least 40% year to year to growth there. >> paul, how much do you have to hear, at least in this quarter about amazon's plan for whole foods? i feel as if for a deal that's relatively small compared to amazon's overall size, it's got a tremendous amount of attention, a lot of curiosity what the intention is there in terms of a strategy, does it

matter much at this point? >> michael, i think that's a great question even though it's just a pimple on the face of overall amazon, we're still talking about 13, $14 billion spent, which is a monster acquisition for at least some folks and i would like to at least have some broad sketch of what they plan to do with the company. because we haven't heard anything yet, and i think we need to have at least the subject touched upon and tell us, you know, what is at least a general plan of what you're going to do with those two companies. >> yeah, lots of speculation by the way, interestingly enough put their earnings report out just in the middle of the day today. the comps for the fiscal year, they're down 2.4%. tuna, this is not a business that's necessarily coming off a place of strength right now, do you expect amazon to start selling appliances and doing all sorts of different things with this fiscal footprint? >> i think they're dipping their

toes in a lot of areas i think wholefoods is going to allow them to experiment with a lot of stuff that really is aimed to kind of improve customer engagement, get some or disruption what we're seeing now is a lot of the traditional brands that are now embracing amazon as a partner. i think that's going to help them to, you know, jump start into some of their categories where they may not even be a player today, and we expect going to be very disruptive in the near future. >> all right well, there's a lot of expectations, it's going to be interesting tomorrow to see what happens. guys, thank you both sharing some of their preview. >> thank you meantime apple supplier foxconn is considering building a plant in the u.s the details and what it'll mean for this country's job's market next and the facebook conference call is ten minutes away

shares are about 1.5%. key metrics to listen for coming up what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley

welcome back president trump is getting set to make what the white house is

calling a major jobs announcement at the top of the hour, featuring taiwanese electronics manufacturing, fox conn scott cohn has all the details by the way, scott, speaking of leaks, there have been a lot of leaks about this one >> yeah, but they kept it fairly tight up until the very end. the white house still, at this moment, isn't officially saying much more than that major jobs announcement coming up, but cnbc has learned from a source with knowledge of the event, that fox conn will nuance huge new plant in wisconsin, specifically, along the busy i-94 corridor between milwaukee and chicago. wisconsin governor scott walker is in d.c. for the announcement, celebrating a big, big win wisconsin is one of seven states bidding for what foxcon has called a major expansion of its u.s. manufacturing operations. 10,000 people, maybe more, could ultimately work there. now, it can't hurt that the site is in house speaker paul ryan's district, also near white house chief of staff, reince priebus' hometown, but let's not kid

ourselves, what probably helped the most, a huge incentive package, probably as much as $3 billion over in 15 years, with a state only around 3% unemployment at least one watchdog group is already calling the subsidies troubling, but look for the white house to sell this as an investment in advanced manufacturing. foxcon is no household name, but its clients are. and it just took a majority stake in sharp, which is a big user of lcd flat panel displays. also on that list is apple just yesterday, president trump telling "the wall street journal" that apple is planning to build three new u.s. plants, but our sources say this announcement is not that apple, for its part, is staying silent about its plants. kelly? >> yeah. i hate all these incentives. that's a story for another time. scott, thank you we'll see what happens in just a couple of minutes. and "fast money" will be covering the president's major job announcement in just a few minutes, 5:00 p.m. eastern time is when that's all expected to go down. we have an earnings alert here on whirlpool

susan li, what is happening? >> the appliance maker, whirlpool, is down some 5% in after-hours. this is after a big miss in earnings profit coming in way below estimates. 335, adjusted in the quarter way below that 354 analyst that analysts had put in. revenues in line, but we had some positives here in this report card. they're buying back $2 billion more in shares, but lowering their 2017 epps guidance, giving us a range of 14.50 to $15 adjusted, below analyst estimates. and i also want to show you another decliner in after-hours, quickly. that is the card issuer discover, as well as earnings missing estimates, $1.40, and also revenues coming out a little bit ahead, but looks like it was disappoint there from discover back to you. >> all right thank you very much, susan i just wondered, mike, with the whirlpool thing, they're not far off their 52-week high, by the way. >> that's been kind of a sideways stock, but been holding up near multi-year highs i do think people thought there would be pressure son steel

prices >> and discover, there's been some concern about credit quality. >> they rolled over a little bit. credit quality at the lower end, and competitiveness with points and everything >> a couple movers to the downside today meantime, facebook is moving higher, i believe paypal, as well steir conference calls start in ju a couple of minutes we'll have the key factors to listen for right after this.

welcome back we've got some conference calls about to get underway here for facebook, notably. those shares up more than 2% paypal up more than 3% gilead up more than 1.5% las vegas stands fractionally lower. michael, tomorrow we do get amazon to round out the fang names. and i just wanted to mention that howard oaks of marktree has put out a 22-page letter

he issues these periodically but this one a little longer than most and he's issuing what he says is a warning about the current market environment and he homes in on the action we've seen in f.a.n.g., saying, the super stocks that lead a bull market inevitably become the chase for perfection >> putting it out there, look, there's a lot of stocks out there that the skeptics have just stopped fighting and they've kind of just given in skp and said, look, these are obviously the winners for the foreseeable future now, howard also does mention that he sounded these warnings before sometimes they've been timely, sometimes they've been very early. but i think it's a good reminder that basically, when you have all these financial conditions lacking like they're nothing but great for financial assets, you have to question the persistence. >> he also takes a swipe at soft bank with its $100 billion tech fund and says, look, their biggest win was alibaba, and do we know if that was skill or luck and is it extrapolatable >> is it scale or is it, we're

just going to throw a lot of money in a lot of different places and hope it lands -- >> i felt it was important to get extrapolatable out there that's an awesome word >> it's an aggressive -- >> it's an awesome word. either way, it's good to read the whole thing. that does it for "closing bell." "fast money" begins right now. "fast money" starts right now with breaking news we are awaiting president trump. he's expected to make an announcement any moment now from the east room. you see it there live, about apple supplier foxconn opening manufacturing plants here in the united states. we'll get to that announcement as soon as it starts but first, we got to deal with the big story after-hours. facebook hitting an all-time high following its earnings report the conference call is just getting started right now. and julia boorstin is in las vegas. she just spoke with chief operating officer, sheryl sandberg, moments ago. julia, what'd she say? >> sheryl sandberg telling me that they are excited about the strong performance in the quarter and she pointe