i am carl quintanilla, with jon fortt. morgan brennan has the day off facebook is the top story.or the worst day ever, worst one day market cap loss for a single company, shedding more than $100 million in

i am carl quintanilla, with jon fortt. morgan brennan has the day off facebook is the top story.res are down on pace for the worst day ever, worst one day market cap loss for a single company, shedding more than $100 million in valuation hey guys, good to see you. let's tackle this. we have been through a lot of the metrics where they missed guidance, the stock reaction today. what does it say when 30% is a huge disappointment. >> look, it sounds like a disaster huge market cap, 20% i am laying this on wall street. this stock has gone back to where it was two months ago. come on. the stock went straight up for no reason right after the cambridge analytica scandal. expectations got way out of whack. facebook is doing the right thing. their margins are too high they have a huge opportunity going forward. mark zuckerberg is doing what he has done before which is to say you know what, we're going to invest more now, make the service better, bigger pay off later. yes, stock price is adjusting but it is not the calamity everybody is making it out to be. >> jason, i am of two mienlnds f

♪ >>> good morning, welcome to "squawk alley" i'm jon fortt with michelle caruso-cabrera and wilbur frostt the new york stock exchange we got a lot to get to morning, but we'll start with markets the markets giving up most of their early session gains. the dow was up about 182 points, now just barely above the flat line and joining us for more is kenny from o'neal securities and our own bob pisani good morning to both of you guys what's going on here the semis were up pretty strong at first i don't know why the semis would be higher. >> it was a broad market rally. europe was up. there was talk about concessions with trump created some excitement especially after what happened on tuesday the market was up and then hit it at the end of the day listen, it's a holiday, short week volumes are low. traders trading with trading market not a lot of institutional participation. in here it's just as back and forth trading. so there's no real rhyme or reason other than the always whether it's european tariffs or china tariffs it's going to be back and forth between the two headlines until really un

deficit spending >> i got you always interesting to hear your insights thank you for joining me jon forttsllou. t a yrs >>> tesla getting a downgrade this morning the analyst joins us next. >>> tesla overvalued despite falling more than 16% from its all-time high from a year ago. joining us now is the man behind the call thanks for being here. >> thank you >> it was over a month ago that elon musk tweeted they have about three weeks before their short position explodes. i take it you disagree >> yes, i do yes. there are a variety of reasons why we're negative on tesla. the first is we're forecasting lower sales of model s and model x. i think that gets overlooked by the street if you look at the first half deliveries, they shipped about 44 million that was down 6% year over year. for the model s, it's been down about two quarters in a row on a year-on-year basis so we expect lower unit sales next year for the model x and model s, based on more competition. we looked at the competitive landscape. looking at about 12 different competitor models coming in to the market, 2019, 2020 seven of w

i am jon fortt with morgan brennan. wilfred frost.s the morning off there's a lot going on of course, but we start with the market major indexes in the green dow, s & p and nasdaq look for a sixth positive session in seven. nasdaq coming off the best day in over a month. joining us, our own bob pisani and mike santoli trade worries, fears seemed like last week. now we're up about 259 points on the dow, s & p chart looks similar, up two-thirds of a percent. >> you can see what happens when you have a weekend devoid of headlines about trade wars escalating nothing happened this weekend essentially. we saw a rally we saw a rally in china which has been dramatically oversold where we are now i think we have a great jobs report, we have modest wage inflation, good job growth the fed in a dovish box that's positive for the markets trade war remains the marginal sentiment mover that we've had see, no talk, market lifts and beat up sectors, industrials, materials, semi conductors on trade wars start to lift. the issue is what will happen for

. >> rick, thank you and i'm going to send it over now to jon fortt with a look at what's coming up in"squawk alley. >> alphabet up more than 4% after earnings we have to dig into what that means, not just for google, but what it means for facebook, coming up. and all the rest of the internet ecosystem that's trying to make some money around these ad th'somg gits at cinup on "squawk alley. ♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest. ♪ experience the versatility of utility at the lexus golden opportunity sales event. lease the 2018 rx 350 and rx 350 awd for these terms. experience amazing at your lexus dealer. >>> take a look at the dow, up almost a full percent. 222 points firmly above the 25,000 which we dipped below during yesterday's trading session. we've got a slew of earnings on the whole which are much better, but some individual movers being hit by tariffs, cost inflation, strong dollar, some of the impacts we've seen as a result of the trade war like whirlpool, prime example. >> whirlpool had absolutely no g

good morning i am carl quintanilla with jon fortt. we begin the busiest week of earnings season. alphabet tonight, amazon, facebook, twitter later in the week along with other big names on the dow industrial. trade tensions, new threats from the white house to iran taking center stage as well mike san to mike, a lot to process. >> remains to be see if earnings season is a catalyst here. some of the ones missing seem to be getting punished more than beaters are getting rewarded that's a common thing. six months after the peak, january 26 was the high for the market, thursday is a half year since then it is a prolonged reset process i think we have been going through. most corrections have fully recovered. you have to ask what's wrong as an overlay maybe what was wrong with the starting point up 4.8% s & p year to date, on track for 10% annualized return including dividends. pe multiple is back to the five year average you look at that picture, say this is a decembnt year. we were above this level, and 20% growth, repatriation of hundreds of billions in cash, record buy backs i thi

. >>> good tuesday morning i am carl quintanilla with jon fortt.nan has the morning off. what an interesting day we have to tackle with us. with us, professor scott gallaway, and stephanie meadow good morning, guys good to see you both. >> good morning. >> there's a lot happening, there's trade and shares of alphabet surging, hitting all-time high. the ag machine is powering ahead, hoping to offset that potential fine out of eu that we heard from regulators. scott, you've written a book on faang. are you impressed by this quarter? >> their quarter it is awesome to be a monopoly in a growing economy in the time it takes me to do this in my phone, 2 million declare intentions to google who can serve them ads across the entire internet, figuring out how they translate that intention to action, whether it is to take a trip, go to a certain hotel, what car they choose, what jobs they look for. i mean, this is a juggernaut am i surprised no >> my question is were you impressed? >> they grew core business, 23%, which is cloud basically, 36%, and really sm

squawk alley" is live ♪ ♪ ♪ >>> good friday morning, i am carl quintanilla with morgan brennan and jon fortt friday morning. j here's the president talking about the state of the u.s. economy. >> currently things are -- the economy is running pretty hot. hopefully not too hot. >> i think it is maybe as good as it has ever been ever companies, what i really am happy about is a lot of cash is coming back in through billions and trillions that was overseas where companies were locked and they couldn't get it back, now it is coming back. hundreds of millions of dollars at a clip, and also companies are coming back to our country we have record numbers of companies coming back in they're pouring back in. they're going to michigan and they're going to ohio and pennsylvania and so many different states, and people can't believe what's happening >> wage gains. do you worry, is it time for the fed to be doing what it is doing, just to get a policy question in, should they be raising rates on the trajectory that's indicated >> i put a very good man in the fed. i don't necessarily agree with it because

indianapolis is a serious contender, a state with a strong university system including of course jon fortte's 's alma mater and an economy that is stable and business friendly >> okay. thank you, josh. >>> one tech stock that has certainly led the market higher is netflix it is up more than 100% since the start of the year. down a little bit. it actually can go down. what does the second half hold joining us know is brian white you liked it rightly so. and continue to i would assume for the second half. with this kind of a move though in the stock price, is most of the juice sort of out of it for the rest of the year >> it's been a rocket and i think this can continue. so stock up 100% year to date. it is actually the second best performer in our group, so not number one but i think the market is starting to look at netflix through a different lens and they are really seeing a couple things. number one, the globalization in addition difference is really starting to payoff a couple years ago they made this push and you are starting to see it in the numbers with 70% international growth last

market reaction to powell's testimony mike santoli is here at post nine along with morgan brennan and jon fortt. we did see some improvement in stocks as he spoke >> i think powell utilized the advantage he has, which is a very strong economy. he said we will probably raise rates gradually from here for the best of reasons. to steve's point about the yield curve answer, i found that interesting. that was the one bit of suspense the market had is he going to say if we possibly would get it fully flat or inverted, that would be some kind of trigger for a recession or economic weakness o he didn't want go there. he also didn't want to cast magical forecasting powers he said the ten-year yield gives you a forecast, so if you go above it, maybe you're tighter than you expect it to be that doesn't help you in terms of the next two moves. >> he was not expansive on the curve. >> not at all. part of the idea is we don't want to make this a subject of outside focus. >> i thought it was interesting, senator joe donnelly of indiana wants to get into the tariff discussion and the impact on rural communitie

squawk alley" is live ♪ ♪ ♪ >>> good friday morning, i am carl quintanilla with morgan brennan and jon fortt

thank you very much, jon fortt and kevin landis for your check on amazon. check of the earnings movers. intel down 4.5%. oh, no, it's recovered decently, in fact, now -- this is want no extended hours >> there it is. >> starbucks up 0.7% and chipotle up nicely and the same-store sales growth and the expectation up 2.5 and amgen up 1.5% and the key numbers to listen for in the upcoming conference calls will be discussed next what about him? let's do it. ♪ come on. this summer, add a new member to the family. at the mercedes-benz summer event. lease the glc300 for $429 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. >>> up next, we'll get another check on amazon and the other after-hours earnings mover to help you prepare for those conference calls when we come right back your brain changes as you get older. but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life. when it might be time

company "squawk alley" minutes away stay with us ♪ >>> good morning, welcome to "squawk alley" i'm jon forttera and wilbur frost at the new york stock exchange we got a lot to get to morning, but we'll start with markets the markets giving up most of their early session gains. the dow was up about 182 points, now just barely above the flat line and joining us for more is kenny from o'neal securities and our own bob pisani good morning to both of you guys what's going on here the semis were up pretty strong at first i don't know why the semis would be higher. >> it was a broad market rally. europe was

. >> rick santelli, thank you very much let's go over to jon fortt with a look at what is coming up onod morning. names like airbnb, we will look at the second half outlook for ipos and startups and more coming up on "squawk alley." ♪ >>> you're watching cnbc, first in business worldwide. ♪ >>> it is 11:00 a.m. on wall street and >>> welcome back to squawk on the street the real estate market on long island continuing to slide robert frank joins us with more on the story how bad is it? >> pretty bad, certainly the worse since the financial crisis it is actually the third straight quarter of lines for manhattan real estate. prices fell, sales declined and inventory was way up the average apartment in new york city will cost you a mere 2.1 million, down from 2.2 million last year according to a new report from douglas ellerman and miller samuel the number of sales fell 17% and inventory of apartments listed for sale, that was up by 17% now, the high end is still the weakest, especially the new condo buildings. sales for new developments fell by 37% there is now a 15-month supply of those