we hear all about it and the company from ceo arnold donald, next.berg. ♪ scarlet: we have some breaking news, gap coming out with results, first quarter eps of $.42, that misses average analyst estimates by four cents. miss resulting in a big drop in after-hours trading, a decline of 9% right now in after-hours trading. julie: looking at comparable sales as well, they were up less than estimated, 1% versus 1.5% estimated by analysts. 4%, bananasts up republic up 3%. gap and banana republic were negative last year, so they did show a turnaround, but not enough to make up for some earnings pressure there. scarlet: we will continue to keep an eye on gap shares. toward the end of earnings season, you will hear less and less from retailers. for the most part they have come out with decent numbers, but one of the themes we keep coming up against, spending on e-commerce and investors are punishing them, because it cuts into profitability. let's get you to the bloomberg business flash, some of the biggest stories right now. the world's second-biggest pc mak

arnold donald. fantastic manager. and thin tech. >> the buddy who runs sofi now, right? >> disrupter >> he's disrupting things. rent the runway. very disruptive. >> are you disrupting things >> i try >> you disrupted things with that comcast thing today everyone else got today. >> we'll see you tonight at 6:00 on "mad money." >>> a closer look at retail and some of the big gainers in that sector today leading the s&p. the dow has more than t cuits early losses down 57 ♪ >>> good wednesday morning welcome back to "squawk on the street." i'm carl quintanilla with sara eisen and david faber. markets managed to cut its early losses about in half dow down 78 points meanwhile, new economic data new home sales this time let's get to rick santelli >> yes, for the month of april, we're expecting a number around 680,000 units. 662,000. seasonally adjusted annualized units follows a lower revision at 694 now 672,000 so that puts us up a little over 1% how does that stack up 662 actually is the weakest number going back to the first number of the year in january. but to always get m

spygate, he seems to fail to realize that in 1780, benedict arnold didn't realize his name would become infamous throughout all of history. i think donald trump might want to reflect on that. >> i know a closing quote when i hear that. and with that, it's time to thank malcolm nance. always a pleasure. and coming up for us, trump and his supporters continue their onslaught to discredit robert mueller, but is it actually working? will it matter when the final mueller report comes out, in whatever form? that's when we continue. >> mueller is more powerful than all u.s. attorneys. he was never nominated, never confirmed by the u.s. senate. because robert mueller's appointment is unconstitution, and that renders everything that he has done since may 17, 2017 null and void. >> well, that's a new argument. from time to time, given the tenor of the conversation, we call in our next guest for a reality check on where politics stand on any given night. for that, we welcome back mike murphy, republican strategist, long time adviser to candidates like mitt romney, jeb bush, john mccain, and a host of others. thank you, sir, for being here with us

spygate, he seems to fail to realize that in 1780, benedict arnold didn't realize his name would become infamous throughout all of history. i think donaldto reflect on that. >> i know a closing quote when i hear that. and with that, it's time to thank malcolm nance. always a pleasure. and coming up for us, trump and his supporters continue their onslaught to discredit robert mueller, but is it actually working? will it matter when the final mueller report comes out, in whatever form? that's when we continue. if you feel like you spend too much time in the bathroom with recurring constipation and belly pain talk to your doctor and say yesss! to linzess. ♪ yesss! linzess treats adults with ibs with constipation or chronic constipation. linzess can help relieve your belly pain, and lets you have more frequent and complete bowel movements. linzess is not a laxative. it works differently to help you get ahead of your recurring constipation and belly pain. do not give linzess to children less than 6, and it should not be given to children 6 to less than 18. it may harm them. do not take linzess if you have a bowel blockage. get immediate help

spygate, he seems to fail to realize that in 1780, benedict arnold didn't realize his name would become infamous throughout all of history. i think donaldump might want to reflect on that. >> i know a closing quote when i hear one. and with that, it's time to thank malcolm nance. appreciate you coming on tonight, sir. always a pleasure. >>> and coming up for us, trump and his supporters continue their onslaught to discredit robert mueller. but is it actually working? will it matter when the final mueller report comes out, in whatever form? that's when we continue. tails. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. i'm alex trebek, here to tell you about the colonial penn program. if you're age 50 to 85, and looking to buy life insurance on a fixed budget, remember the three p's. what are the three p's? the three p's of life insurance on a fixed b

donald trump if washington continues to pressure the country to give up its nuclear weapons. england have announced their world cup squad for russia 2018, and the liverpool youngster trent alexander—arnold a story of recklessness, hubris and greed. mps behind the report say carillion's directors were to blame and should be disqualified. they also criticised regulators and the government for allowing it to happen — and called for the big four accounting firms to be broken up in light of their actions. after an angry backlash, the bank of england's deputy governor has said sorry for describing the uk economy as entering a "menopausal" era. ben broadbent had used the phrase in an interview with the daily telegraph as a metaphor for economies that are "past their peak". later, he said he was sorry for the "poor choice of language" and any "offence caused". deliveroo — the food courier service — says it will make its employees shareholders in the company, giving them shares totalling £10 million. but its 15,000 riders — who deliver the food — won't be included. the firm say that's because they are self—employed. deliveroo is now valued at around one and a half billion pounds and has 2,000 pe