it is an earnings -- facebook, microsoft, tesla, all on the move after they reported their quarterly numbers. we're going to give you another big name that needs to be on your radar today carlos ghosn posting bail overnight in japan wecht get a live look at him leaving jail slack just took a big step towards going public you can call it friday night

fights there's a big battle brewing in america's heart of the energy book the stocks that could now be in playing. >> talk will love, and the energy patch is a battlefield. we'll get to more on that in awe few minutes. good morning, good afternoon, and good evening welcome from wherever in the world you may be watching. the s&p and nasdaq are indicated higher still, big-time earnings are sent across before the open. that could change all of this. numbers including from our parent company, comcast.

a lot of win streaks broken. the s&p and nasdaq breaking their three-day win streak the nasdaq 100 breaking a seven-day win streak guess what else. oil, is broke a multi-day win streak as well oil doesn't want to be held down lately it's up .4% to 66.17 a barrel. that gas higher as well. brent crude up more than 1% as well now, inside the markets earnings right now, at least until we get the fed next week, are the name of the game. we're going to get more on that in just one second right now we do have some big breaking news in the banking world in europe. moments ago talks between deutsche bank and commerzbank went kaput deutsche bank walking away due to the high costs and capital requirements associated with such a large scale deal.

facebook setting aside a ton of money for alleged bad behavior and tesla reporting no doubt what can be considered an ugly quarter. we're going to dig right now in on each and let us quickly start with microsoft the outlook hitting a major milestone after crushing results. microsoft's market cap with this move now topping $1 trillion microsoft up 4% to $130 a share

and a $1 trillion market cap now to the bad , kind of. some in the government may view as bad behavior. let's get right now to elizabeth schultzy to break down facebook's big quarter and maybe just a small worry elizabeth. >> good morning. investors are shrugging off the bad, these locally woes that facebook is face, and instead looking to an overall strong earnings report. facebook reported 15.1 billion in sales in the first quarter. that is 26% growth year-on-year, and user growth was in line with expectations too facebook saying it's going to satisfy $3 billion for an expected charge from the ftc this is related to data privacy issues, and it said that charge could be as high as $5 billion

it's investigating facebook in the wake of the take a listen. >> part of building trust will be deferring to a public process on how to make these trade-offs. i understand that any regulation may hurt our business, but i think it's necessary eenl that regulation will help establish trust. >> now, so far investors seem to be buying into the new privacy first vision for the company can you see shares trading 8% higher in extended hours so far today. >> all the privacy issues that

are out there, is there any sign from the quarter that that is actually impacting user growth you have all these people that _#delete facebook >> i will say europe is a great example. we've seen stricter regulation already coming into place. the u.s. is looking at mimicking some of the privacy laws in place here we're back up to even higher facebook added four million new users in europe daily active users last quarter you can see that there's strong growth in international. maybe a little bit of a leveling off in the u.s., but generally no clear signs that this is hitting the company yet as it sees growth across all those platforms. >> elizabeth in london elizabeth, always a pleasure see you soon thank you. now to the ugly quarter for

tesla. revenue coming in below estimates. here's what elan musk said on the conference call last night >> we're getting past the overhang of the debt tax credit cliff, which for us ended in the u.s. on december 31st. these are all positive factors we also have a lot of markets where there's -- where we're tapped into demand chris, you've got tesla down a meager .3% in the premarket right now. are you surprised the market isn't penalizing tesla more?

>>. >> i think, as you mentioned, brian, the -- with the deliveries coming out just a few days after the quarter ended, you know, it coif absorbs some of the reaction and used the reaction somewhat around the earnings announcement. i think cash flow was significantly worse, but, you know, once they put the delivery numbers out there, it's kind of easy for most analysts to kind of back into what the results are going to look like you know, having said that, i think that the real debate kind of pushes out to the second half of the year where, you know, you have estimates of 360 million to 400 million deliveries to take place. demand is something very difficult to kind of anticipate

here one of the reasons we have a neutral on the stock is because of demand. at the end of the day the distribution of these cars on a global basis is very difficult thing to, you know, forecast. i would assume that it will be some type of, you know, fin-tech-esque solution that they have up their sleeve. i really don't have any idea around that at the moment. >> quickly, do we buy the stock, sell it, hold it, what

>> i still think you have to sit on the sidelines at this point until you have more clarity and you kind of get through this expansion phase, you know, we kind of look at tesla in three phases phase one is the distribution of the electronic vehicles and the adoption until you have more clarity on that appetite for evs, you know, it's kind of hard to make a real call one way or the other. >> chris, always a pleasure. thank you very much for joining us >> likewise, thank you outside of facebook, microsoft, and tesla, here are three other big stock stories you need to pay attention to today. they are all bairngs and banks in jurp. are you ready? let's go the skee of ubs telling us overnight it was "a challenging quarter, but he is pleased overall with a result. investors seem a little pleased. stock up 1%.

barclays also reporting a beat however, the bank warned it could be forced to bring down its annual cost outlook if tough margaret conditions persist. barclay's conference call getting underway right now bringing any big headlines as they cross that stock down just under 2%. >> we have a slew of exclusive interviews you do not want to miss, including their chairman and ceo brian roberts. southwest airlines ceo gary kelly talking about the 737 max problems one of the hottest stocks out there, chipol. their ceo broirn nichol also joining us, and all before 10:00 a.m. eastern time.

slack taking a big step towards going public itself. leslie picker has more on the details. good morning >> good morning, brian according to the "wall street journal" slack is targeting tomorrow tomorrow is friday all that sort of thing now, what's interesting with slack compared to some of the other unicorns that we've been seeing going public is that slack is not actually doing a traditional underwrun deal they're not doing an initial public offering. they're doing a direct listing that means that -- >> who else -- spotify >> yes s-names. in lehman's terms at 5:12 in the morning, what's a direct listing? >> it's much more of an auction process to price the stock basically with an underwritten deal -- with an underwritten

deal you have, you know, hired a multitude of bankers these bankers will sell the stock to investors you allocate the stock in a specific price that is based on a slew of meetings over a course of multiple weeks known as the road show. that gets doles owl the day before that whole complicated process doesn't exist at all you basically disclose and reveal all your financials to the investors out there. wait about a month or so then all of a sudden your shares just become public essentially.

they are there in an advisor capacity giving them their expert ties with regard to what they should be saying to investors and what they should be doing, you know, as the auction takes place. uber is expected to begin its road show tomorrow essentially that means that tomorrow morning we will see a price range, which the company is targding in terms of its marketing efforts to investors that will begin the process of one-on-one meetings, big group

linchz, and they traverse the country to help sell this deal because they have about $10 billion worth of stocks to sell. >> are you hearing that the lyft debacle is going to bleed into uber >> so the people close to uber will tell you, no, don't panic >> of course not >> our deal is so much more complicated. we have a more diversified business.

>> zbleebl fences heating up as kim jong un steps into the spotlight with one vladimir putin. plus, the latest on the developing saga around carlos ghosn. is he free on bail, and wecht get live video of him leaving the jail sometime during this hour u'lot more to do yore watching worldwide exchange back after this. ♪ lower carbs. ♪ lower calories. ♪ higher expectations. the light beer you've been waiting for

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>> we have surprising news out of south korea the nation's economy unexpectedly shrank last quarter. companies slashing investments gdp growth falling 0.3%. that's south korea's worst contraction since the financial crisis why are we mentioning south korea? because they're a bellweather for things like semiconductors things that matter to the u.s. market zpoks still within a stone's throw of some new all-time highs. we're seeing mixed trade on the futures. dow down about 60 points on futures, but s&p and nasdaq are higher here's the question. af a run to record territory richard, do you think we still have more gains to come for the u.s. markets and what has been an unbelievable gij in 2019?

>> doubtful. >> irtsz really hard to see where the fuel for future gains are going to come from lower interest rates maybe more tax cuts possibly there's no economic fuel to rely on here to fuel earnings further. so far this year stocks hitting new highs. when you look domestically and internationally, growth is waning, and that's not my personal opinion that's the consensus economic view growth in the u.s. this year maybe going to squeak over 2% in real terms next year very likely to have a one handle it's even worse overseas the macroeconomic picture is not looking pretty, and it's really hard to see what's going to fuel further equity gains here and abroad >> well, i guess could the fuel come from our viewers, right from the people that are watching cnbc on a daily basis

we know that there's actually been outflows from some big equity etfs and index funds. however, you start to see these record rally, record headlines on things like usa today, non-financial media. could that attention drive people back into the market, richard? >> psychological effects always have a strong short-term force on the markets, but longer term it's alleges the make row economic fundamentals. very hard to see the basis for higher gains >> what's the base case best case for the federal reserve is it a rate cut or just staying on hold and doing nothing the rest of the year >> i think investors clearly are addicted to the crack of easier

monetary policy, right it's a drug, and. >> the best case in the short-term for the markets is a move to lower interest rarkts and fed fund futures are implying that move we do appreciate your views. appreciate that. thank you very much. the crack perform the federal reserve. >> will the battle over anadarko spark a new debate who knows the most acreage in oil content?

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time today on squawk on the street meantime, we are following a developing story out of russia north korean leader kim jong un and russian president vladimir putin just wrapping up their face-to-face meeting kem will remain in russia before going back to pyongyang. that is a live look of vladimir putin right now. he is speaking in russia following that summit. we are monitoring his comments, which are in russian, of course, and we will bring you the news as we get and translate it we're also following another story. this one out of japan. former nissan chairman carlos ghosn has been granted bail. he will be free to leave a tokyo prison after he posts a $4.5 million bond ghosn re--arrested on april 4th over new claims of financial misconduct

ghosn denies all allegations, and he could be leaving the jail at any moment. if we get video of that, we'll certainly bring that to you as well wow. busy day straight ahead, talk about a turnaround from doghouse to wall street darling this stock up more than 60% this year it looks to add to those gains this morning, and that is your mystery chart. who is it? great news for pay pal investors, and it's all thanks to venmo do you venmo ckft ts.ba aerhi ♪ applebee's bigger, bolder grill combos. now that's eatin good in the neighborhood.

sfloirchlts stocks inching to new records. will earnings power us there today? will the rally peter out call it friday night fights. there's a big land grab happening in the heart of america's energy boom. with who is at play? what's at stake? how can you get in all as worldwide exchange rolls on right now sfwa thanks for being with us on cnbc i'm brian sullivan let's get a quick check on your money. we broke a three-day win streak for the nasdaq and the s&p 500 yesterday. the nasdaq 100 breaking a

seven-day winning streak right now the company beating o the top line daily active users coming in at 1.56 billion people. every day. the average rev new you per user dlarks it's $6.42. in what's app, stories, messenger, and instagram, those platforms now have 500 million daily active users all for the first time ever. all of this and that stock move despite facebook taking a $3 billion charge in the quarter. that is related to ongoing ftc inquiry.

we're here with the managing director at lg investment advisors >> he intimated that the legal woes are not that big of a monetary concern the market obviously agrees. the stock up 8%. what do you think? >> i agree with jim, brian, and i'll give you a different analytic way to look at it the company makes in the neighborhood of $27 billion operating cash flow. the $5 billion if you take that out of the cash that the company has, which is still very ample and well in -- and just assume that that cash is going to earn 2 peshds, the you lose $100

million, but you still have $27 billion left it's less than half of 1%, and the really important thng here is that it doesn't necessitate, at least as far as i can see, any significant behavioral change owner what the company has attempted to do voluntarily to improve the privacy of the users. the company has been very responsible in trying to "fix" the platform we can go on and look at the business, and the business looks pretty good. i'm amazed for a company this

size, the ad volumes before adjusting for fx headwinds were over 30% the unit usage was over 30%. that's remarkable. the advertisers obviously don't care >> why not we got zuckerberg in front of congress aier ago. they've gone on a global apology tour maybe it's a fake delete facebook movement. they're under pressure from the u.k. europe is coming down with a new privacy rule nobody, not the users and not the advertisers seem to give a you know what. >> well, i, again, totally agree with you, brian, and you have to go back to david oglevy. the problem with advertising is 50% of it works, and we don't

know what that 50% is. there were businesses when it started that was facebook -- it taught people how to work with facebook the thing that worked from the get go was that they could identify whether the advertising worked. it's the same with google. you can tell whether the search works. as a consequence, these guys continue to grow six, seven, eight times faster than the ad market

we'll see google later on this month. i think the lights are pretty green there. still. as strange as it may seem. i would want to watch it here. i think personally that apple and google are more attractive among the fangs, and there's a lot of the fangs are up there, and i have never really been at all positive on netflix or amazon, and i'm still skeptical about both of those. my incremental money would be on google and apple here.

facebook would be third. leslie picker is back, and she's going to kick it off by revealing today's -- you know, leslie, we have our buddy cramer, and he doesn't sleep either he nailed them we have to make the mystery charts harder. he is like that guy from jeopardy. chip diagnosis olte shares up .6%. for the first time ever pay pal is telling investors how many people use its venmo app, and, brian, it is quite large

pay pal says it has 40 million venmo users worldwide. total payment grew 73% vooza reporting better than expected results for its first quarter. visa shares up 22% this year alone. >> if you are just waking up and joining us, are you wondering we're going to make new highs today, the futures are not giving us any indication of whether that's going to happen the nasdaq and s&p breaking three-day win streaks, but their futures are slightly up. the dow, by the way, not yet hitting a new record high. about 1.2% off that.

sleep -- sleep when i pass away, which hopefully will be in the next 40 years or so. i thought the big one was boeing and caterpillar. in we have these central banks globally, i thought caterpillar would be a lot better. i get the markets are within a whisper of an all-time high, and everybody is euphoric, but i'm not certain they should be as euphoric as they are earnings have been good. i haven't been great i heard the facebook conversation

there was an interesting one the advertisers have no place left to go let's face it, if they did, they would. facebook and they warned they said if you listen to zwickerberg decelerated growth in the back half of 2019, so maybe is he telling you something. the ceo, the job that he has done there, as you are growing at, what, 70% or something >> outrageous. >> a $1 trillion market cap. is microsoft the greatest stock that not enough people are talking about? rooch peemt kuhn fousd it and mixed it up with these old technology aircraft carriers that can't turn on a dime, and they proved they can

they figured it out. ibm didn't they got into new businesses, and they're getting rewarded for it now, and the fact that their margens can improve as significantly as they have is really interesting it tells me even at 23 times forward earnings, the stock is probably still -- i can't believe i'm saying it. it's probably still cheap. he know that's an insane comment, but guess what, people have been saying it's too expensive on valuation now i would imagine since the fall >> you say what you want to say, this is probably the most compelling story out there

go back about a week and a half, two weeks arks and mr. bezos, he maybe was stealth, maybe not so stealth, but i think he sort of warned about this quarter. if the stock rachets above 2,000, everybody will say he is scared nelly whatever people say. >> nervous nelly >> nervous nelly it's early in the morning, but i will tell you, i would rather miss the $80 to the up side than a potential 150 to the down side if i were trading am zplon, you can enjoy the move higher, i would be selling the stock and waiting to hear what they say post-market. by the way, we have the stock draft today. that is just going to be ridiculous >> it's going to be power lunch. the stocks draft, you're going to be there long day my angel as at 9 and 16. i'm glad i did not stay up and watch the game we'll see you in the stock strap. >> you're the man, brian

>> when we come back here, the huge land grab happening right now in the heart of america's energy boom. coming up, we'll show you what company has the most ang raj in the permian and what companies may be the next to get bought. good sugs discussion back after this. but you're stuck in the vicious cycle of credit card payments. it's time to get a personal loan from sofi. borrow up to $100k to pay off your credit cards, and then pay us back with one monthly payment. and it's all with zero fees. get a personal loan, and pay no fees. ♪ get a personal loan, and pay no fees. the cloud i need? it has to keep up with sales, supply chain, inventory - ♪ ♪ it needs to track it all, from cincinnati to singapore. ooo! ♪ ♪ and protect it all. customer records, our financials, they better be secured. but i also need easy access, to manage data across my clouds -

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you know how much of texas trust us, it's a lot the permian takes up a huge chunk of the west-southwest region of the state. ilt the biggest in the continental united states. the permian also the seen of i'll call it a black gold rush, if you will. in a potential bidding war over anadarko, they have huge amounts of land there. with that anadarko deal, whoever ends up with them, investors want to know who might be next who are the biggest mid-size players, the most land in the permian basin? well, lucky for us, we have some net acreage information. here are some of the biggest energy companies with the most land 660,000 net acres. coverageo ceo, 640,000 net

acreage in the permian eog, perhaps considered by many the most well-run company in the permian has spot 420,000 acres diamondback energy, the original fang, that's their ticker, 390, and devin energy has about 280,000. there are other permian players like parsley energy with about 200,000. these are the biggest of the midsize companies in the permian basin. joining us now on the cnbc news line is michael bradley, managing director of equity sales. the ones who put together this information for us, and, mike, thanks for joining us on the phone. here's the thing, though this is net acreage. does this mine this is operated acreage? are they pumping and drilling all this land? or is it what they may own or lease? >> if you look at some of the companies, the exxons and chevron, they have the flashy acreage totals of one million

and a half plus. really we look at two of this thifrds, maybe a half of two of this thirds that they're going to be able to drill on when you see some of the big insulated numbers, you really want to look at the core acreage. a lot of these companies tend to be lower, which is why we're going to see much consolidation in this sector over the next six to nine months we're going to see another land grab in order for these companies to consolidate acreage. it's a lot -- it's pretty checkerboarded for a lot of these companies. they want to drill longer laterals, and so this is what we're going to be seeing this is one of the reasons we saw the anadarko-chevron merger. >> having a bunch of land is nice the second most important commodity, if you will, is people is it not? having the people that drill and work these rigs, and that's what made anadarko so attractive, is it not, that a lot of their acreage was operating. they've already got people and equipment on it. if you don't have people and equipment on it and you buy it, you probably don't have the people and equipment to put on is that why anadarko, one reason

why we got a bidding war over the company now? >> one of the reasons we have a bidding war for anadarko, and it's not just a permian net play, but it's a really, really good value it's really, really cheap. what we're seeing here is that their acreage was very consolidateed in a very core area one of the, you know -- their drilling partners, who is shell, which we were a little surprised that they didn't enter the fray. >> it's to increase the reserve life of chevron. >> there's been talk in houston, and some people say they're willing sellers, and they got their big bonuses and want to move on perhaps living elsewhere. who knows? is there any other company out there, michael, based on what the stocks are doing, the

arbitraje activity or will chevron come in trumping objection dental move or other companies are likely in play >> right now anadarko is ate 14% premium to the current chevron proposal and about a 6% discount to the bid kbh we think there will be a higher bid coming from chevron, it's probably not going to be penny for penny in line with the oxy bid, and the reason we think that is we think that investors or anadarko shareholders, much prefer chevron stocks. we think our market is telling us something in the 72 to 73 range is coming in from chevron, and that's going to be more of the cash component of the current range.

>> it's pretty interesting you know, we're not quite shoor why that is. we don't think the break-up fee is an impediment to getting it -- this deal done obviously, it's concerning >> michael bradley, joining us live on the cnbc news line from out in the central time zone we appreciate it have a great day thank you. up next, a major fang name out with results after the close. that's not diamondback ergney. what to look for when amazon posts tonight. posevery day, visionaries are creating the future.

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529 plan? a 10-k? what's an etf? an ipo? 401(k)? where do i start? empower yourself with the free tools and resources on investor.gov. before you invest, investor.gov. zbliefrmt the big interview coming up later today. i'm going to sit down with steve bannon and kyle bass together. we'll talk about china, maybe the china threat, where we see the trade war going. that interview live today 10:30 a.m. eastern time. will erpgz drive us or send us

packing? joining us now is rob moore chief investment officer rob, what do you think the earnings numbers have been spectacular, but we're not seeing the futures markets drive us higher today. why do you think that is >> well, brin, repeatly really this whole month the volumes have been very right, which has some people concerned, and it doesn't have me hugely concerned, but i think that's probably playing into today why we're not necessarily seeing futures rocketing up amazon reports later today as guy adami was pointing out earlier. that could be market-moving. sad for the close, but we'll see how that plays out wrrn. >> volume, though, here's the thing. do we make too much of it, rob the volumes have been the lowest since any month since 2006 if a stock goes up -- it still goes up.

>> it could -- it's a two-edge sword there, brian some would say on the negative side that the low volume indicates that the rally is petering out, but on the other side -- i'm sounding a little bit like an economist here talking out of both sides of my mouth, you know, when you have light volume, that means there's a lot of cash on the sidelines, which could jump in during the summer the old fomo situation, fear of missing out. i don't think it's much to be concerned about at this point, but it is something that bears watching >> next wednesday we get a fed decision does the fed have the power to juice this rally or destroy this rally? >> they have the power really to do both. of course, they've really been -- the last commentary from the fed really was that they wouldn't be -- they didn't expect to raise rates the rest of the year.

we're not really seeing that out of the economic numbers. >> but we're going to fupd out next wednesday with the federal reserve. we always appreciate your time have a great day in fully. talk to you soon >> thanks a lot, brian >> kids and parents are expected to take part, including some of the early risers here at cnbc. these are the kids shake it out there, guys. i love the tie these are some of the kids of our hard-working staff that bust their tails every day. mom and dad leaving in the middle of the night to come in to put on this morning show. sacrificing a lot all for them getting a little choked up thinking about this. i should have brought my own kids in. terrible father. shake it out thanks for coming in so early. doughnuts on the worldwide

exchange team. there we go. a little paper clip action have a great day here at the office at'll see you on tv. th's it for worldwide exchange "squawk box" is next have a great day

>> well, earnings season is in full fling if you had any doubts we'll get ready today for reports from 3 m, southwest airlines, ups, and our parent company comcast. plus, we'll show you the big moves in the big after hours reports from facebook. , microsoft, tesla, and bring you comments from the ceos on the earnings call. former nissan chairman carlos ghosn granted bail overnight in japan. details straight ahead it's thursday, april 25th, 2019,

and "squawk box" begins right now. ♪ i can make your hands clap >> live from new york where business never sleeps. this is "squawk box. >> good morning. welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernan and mike santoli. andrew is out today. take a look at the u.s. equity futures. doirch r down by 66 points the dow not far from its highs at this level. it actually dropped by 59 points yesterday, and while that is a small loss, it was still the biggest loss the dow has seen in two weeks. the nasdaq has indicated up by 55 points.