"baker hughes, a ge company.york football giants, a new york football team it is not a real cut it is a move now obviously tusa's saying -- >> used word significant >> but he said de facto. that's what i like health care, you can count that kind of as a dividend. they're all floating 20% and 80% back at a certain point -- and the culp decision is not idle, getting john brennan out i think that flannery has reached the longer term -- let's just say -- plan, provided that long-term health care is really under control, which he seemed to indicate, and if they can get their arms around power. i like that he said power is still real trouble but what he's saying is aerospace -- boeing news today, aerospace is incredible. for that smaller jet which you really need. i was on an a-300. there's like seven airports that plane can land open bar, by the way i bought everybody a drink -- but it was free! >> you are a bar owner >> i think the aerospace is so strong that it can compensate for a lot more than people realize. oil'

baker hughes is to use away. the big stuff we got to wait for.e are looking for cost reduction and some stability. care in our aviation's is going to keep carrying them. that is a story. jason: onto to bring -- i want to bring you in here. i want to get deeper into this earnings season. we pivoted from financials to industrial. how is it feeling out there? consensus general that we expect earnings that has a pretty good quarter this year. the global growth dynamic has been weakening. out theok further second half of the year, the second risk building up on the trade side. we have the u.s. having strong growth momentum. industrials is such a circle sector that will have to be affected whatever the global output is. alix: over the last quarter, industrials up 4%. the equities are underperforming. what he do about that. ? what is the trade? seema: it makes sense. if you look at q1, there are so many good earnings numbers. that's because of the cyclical nature. if you look into 2019 just -- for the global economies, that is the time when many people

baker hughes is well positioned in that oil and gas recovery, but again saying that reiterating they'reg strength across their businesses, except power, and that they are laser focused on turning that specific unit around >> for more on all that, we are joined by former ge vice chairman, former nbc ceo bob wright thanks for joining us today. always good to get your take. >> thank you, thanks for having me it was a very interesting call i participated in the call and you know, the good news is there were no surprises. they're trying very hard to be transparent and it is almost impossible, but they're trying very hard. every quarter they give more information. i thought the summary i just heard was certainly what i saw flannery has a very difficult hand, no question about it and he's upright about it and he's got some -- aviation is a great business, the health care business is looking very good, and it will do very well out there on its own renewable energy is kind of a little bit of a surprise that that's having such a difficulty at this moment but they get 85% improvement, they're back

baker hughes. which will benefit, the domestic services, or the international?it for "commodities edge," this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. ♪ julie: i am julie hyman, in for scarlet fu. this is "bloomberg etf iq," where we focus on the assets, risks, and rewards offered by exchanged rate funds. ♪ julie: flurry of fixed income. we will talk to a family office manager about how he is navigating bond etf's as the fed raise rates. bringing smart data to bonds. wisdom tree has been a pioneer in factor-based investing. now it is applying those skills to fixed income. we will talk to one of its strategist, kevin flanagan. remember ball-mageddon? it's been a

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. >> that would be >> baker hughes, a ge company. we didn't get to talk about mr.ent plans, i think, for restructuring they were viewed with yawn i think that's a mistake i think health care is worth more than people realize and engines. engines ge a lot of people feel they're taking lead over united technologies. >> yep there it is $14 a share now at ge. >> that's correct. >> they talked about exiting the baker hughes position over years. not quickly. >> going their way that's a thing. >> perhaps it would move their way to a serve extent and give them more flexibilities. >>well, i mean, look oil was at $45 or $50 when mr. flannery first started thinking about this you can say he got lucky i felt, david, it's better to be lucky than good. jpmorgan is confounding me, david. it reports on friday i want the stock to be down as much as possible going into the quarter. we don't want to run in that stock. i hope that jamie diamond explains that the country is a great place to do business that he talks about the fortress balance sheet. these would be breakthrough. >> he d

constraints oil is moving higher today you'd expect these to move as well you have week, slob and baker hughesin disappointing numbers, so i'd go straight to the xhcommodity guys if you want to play this the space. >> worst performing s&p sector you tillties >> they're down about 80 basis point. driven by the fact the ten year is up today. they've done pretty well up about $5 off their june lows. that said, with the treasury yield, now moving higher, it's going to put downward pressure on anything with a heavy yield component to it. utilities are smack in the center of this >> okay. third point. unveiling a new position in a letter today giving paypal saying it could be the next netflix or amazon. josh, i think it's going to go to 125 the stock is done really well. >> i have so much respect for the point. and never, ever on any of these lists where they're like, oh, so and so, 1990s hedge fund guy is having trouble never on these lists he buys winners. this is a winner this is a $100 stock and a company that's it's up 18% on the year. that shouldn't stop somebody from making an investment as i

an independent company within the next year and a half they're going to sell their interest in baker hughes, a ge company, the big oil service subsidiary, over the next two or three years. and we already know the transportation business is going to wab tech. what's left? they'll focus on aviation, power, and renewable energy with real synergies this time their idea is to focus on these businesses rather than be a huge conglomerate that is impossible for anybody to understand. they want to be an engine and turbine maker. they call them "turbi nchl"turb. they always had their own way of doing things the stock shot up 8% on the news i love the aviation business we know aerospace is one of the hottest industries around with a holy moly decade backlog of demand it's better to be in the renewable energy business than the fossil fuel business but thanks to the rebound in crude, i imagine they'll be in a position of strength better to be lucky than good who cares? he's selling into strength, not weakness i'm not exactly thrilled that they're keeping the power business they make a ton of money servi

energy dropped 5% today and we saw chesapeake pass pioneer and baker hughs under pressure and comcast is expected to raise its offer as early as this week according to wall street journal sources after fox sweetened the bit of course disney is currently in the lead for the fox assets reaching that agreement. liz: great to see you nicole. a presidential tweet making a big drug company hold off just for now on hiking its planned drug prices. tonight, dr. marc siegel all is going to tell you it's about time and also alexandria cortez is now the winner of a district she was not even running in. coming up we've got a guest that says the democrats new socialistic push for a government paid for jobs and everything like that it won't work. why? americas booming economy but first former republican vice presidential candidate sarah palin is saying a comedian dued her into what she's calling an interview and disguising himself as a u.s. war veteran in a wheelchair all for a cbs show time movie he's making. we're bringing in a hero double amputee wounded warrior retired staff sargent johnny jones

do sell to investors because of the rest of the business after it sells on health care and in baker hugheseen a struggling power business that will happen for the next couple of years. energy renewable business that is growing but they are not in the right part because they sell wind power and not solar power. and honeywell's case, it has other growth input. joe: so the portfolio of ge is not where investors are. and there are industrial companies with good portfolios in the space is the story? >> exactly. isie: in the ge portfolio not changing that much more, right? they made the major changes and now they're kind of stuck with that stuff. >> they have said it's is what they are doing and that is the end of it. but, they are taking steps -- some investors are speculating that we could see more down the road. do you need aviation to be paired with power? ge is already very strong in terms of synergy between those two businesses. a gas turbine at the end of the day is an engine. there are overlaps in terms of supply chain, basic infrastructure to support given sort given sort of a different

baker hughes says the shale twice may pull back right now. we had a drop of eight rigs in the latest weekly survey. five of them were oil, two of them were gas. one couldn't make up their mind, they didn't know if they were oil or gas. that shows they will slow down a maybe a little bit when it comes to production that just hit a record high but at the same time when you talk about these tweets, when the dollar goes down the commodities all go up. david: they do. phil, thank you very much. melissa. melissa: president trump revealing he is ready to go with $500 billion of tariffs on china for their escalating trade tensions. edward lawrence is live at the white house with more. edward, what can you tell us about this? reporter: melissa also this and breaking news story where the president's personal attorney michael cohen said he recorded conversations between himself is and the president when he was candidate, a former "playboy" model whether there should be payouts, she wanted money that she alleged she had an affair with president donald tr

they have been trying to sell off their assets such as baker hughes, the oil services company.urn arnn may not be in sight. they're also said to be cutting the dividend yet again. they cut the dividend for a second time since the great depression last year. stuart: you're too young to remember ge as the great industrial company of all time. >> the peak was in 2000. stuart: we bring good things to life. >> is that the jingle. >> i'm not too young. stuart: remember that? >> no. stuart: ge we bring good things to life. >> being serenaded. ashley: yes you are. stuart: let's get serious. look at microsoft, please. record high for the stock early today. actually reached $108 a share. i own a tiny thin sliver and i'm smiling. cloud business doing real well. this is many pa pell of really successful turnaround. >> the stock is up 200% since he took over in february of 2014. moving away, stayed pc, windows, sales business to something more dynamic and more profitable. cloud of course. and 89% rise in revenue for azure. so that is pretty good. they will talk $100 billion in revenue for t

ge and baker hughes. wells fargo. they are not been hurt by a broader systemic issue.s is what investors are looking for. are the problems affecting these companies specific to management or something broader? alix: which leads us to the visibility. we are looking for the most growth next year. all the sectors exposed to trade. that is why the stocks of underperformed. what are you expecting? >> analyst ratings are not -- estimates are not going down. you have to take energy out of mix.ext -- out of the look at retail. when you look at the second tier indexes the retailing sector is the best so far in terms of stock performance and one of the strongest sectors of s&p in terms of earnings expectations and revenue growth expectation. even those numbers holding into q4 and 2019. that tells you a little bit about how analysts are viewing broader issues in which companies are going to be affected by it. alix: great point. thank you very much. the men of the week. no doubt that is going to be the strongermark, what a dollar may mean for certain companies. this is the dollar

announcement of the plan to split off the health care business and the roughly two-thirds ownership at baker hughesdone away with as a result of earnings on friday, which no follow through. but a follow through to end on the negative, obviously. >> let's go over how bad was it? deutsche bank said it was not that bad they said stay away and downgrades it. a lot of what happened was that really thought out by steve tusa about accounts receivable and power and how things were accounted when you switched to accounts receivable to ge credit and then he predicted the same thing was going to happen to health care. and tusa's work, i mean, he's done he is able to put it in context to make it so what he was saying it was fine. we're fine when thinks are good. but things have weakened and maybe the payments aren't going to be there. so it was a very damning piece and i still believe that the restructure was right. so does tusa, frankly. i didn't understand how weak the accounts receivable situation was. something david alluded to at one point. how they're accounted for. >> well, you know, at one point were t

let's take a look at some movers helping the materials, stocks baker hughes, these are the worst fourly getting hit. court with the material sector down 4% because the commodities slide is not just about oil. let's look a little syntactic for the commodity complex first of all, we will see that the -- the bloomberg commodity index down 2.5% its worst day in about a year, that is action not the commodity index but the commodity index is down about that much. it dragged down also by copper down 3% its worst day since december of last year, wheat down 4%, its worst day since august of last year, so a ton of weakness with commodities, the damage that could be done by tariff exchange between the u.s. and china and perhaps other countries but there is also another culprit, take a look at the dollar index up point -- .7%. really pressuring the commodities comp like spirit oil may be falling but that is not helping the airline sector. take a look at american airlines down all day near session lows down 7.5%, its worst day since june 24 .16, dave the big brexit selloff after the company offere

expiration as you can see, today is the last drading date attention turns to the tomorrow's weekly baker hughesand gas count that 1 378 eastern on friday. >> thank you very much dom chu. >> president trump expected to sign an executive order are the shormt to protect jobs he says in the united states he will announce a national council for the american worker training for jobs of the future. joining us with more on the program is white house deputy chief of staff chris ledow many good to have you here. >> thank you. >> full disclosure you talk to somebody who think the federal government should be as small as possible and that has historically spent billions on job training programs at the federal level which have been pretty much worthless. convince me why this republican administration is doing this >> sure. let me give you a bit of background and then address the question directly. obviously the chee and labor markets are doing extremely well at the moment and for the first time in decades we have a situation where there are more job openings than people looking for work but one of the big i

last month ge announced plans to spin-off healthcare business and also share stake in baker hughes, which is oil company. shares higher in premarket. dagen: thank you so much, susan, we will be covering that, thank you for being here. coming up, americans are more concerned more than ever about illegal immigration, new details about immigration being more worrisome than money. the ride-sharing company let's you shop for snacks and other needs from the backseat. you're trying to lower your very hwith a healthy diet... and exercise. and maybe even, unproven fish oil supplements. not all omega-3s are clinically proven or the same. discover prescription omega-3 vascepa. the one that's this pure... and fda approved. look. vascepa looks different... because it is different. it's pure epa. vascepa, along with diet, is clinically proven to lower very high triglycerides by 33% in adults, without raising bad cholesterol. that's pure power. proven to work. vascepa is not right for everyone. do not take vascepa if you are allergic to icosapent ethyl or any inactive ingredient in vascepa. tell your do

it will take a couple years to have the medical division, baker hughes ge distributed and then we'll if the 50% of the business, which is power, can be turned around and generate any kind of growth i think that's tough ask >> now it's up 2%, jack. you haven't moved -- you haven't decided -- you didn't buy at 12? that may have been a good idea, maybe. >> as i said, i think if you have a long-term time horizon, it probably is a good idea it's going to be a difficult slog you will be waiting for each of these share distributions and then waiting for a turn in the power business which can take multiple years >> so the actual makeup of the assets, which -- over the years, seeing so many switches. things that are supposed to be good, get rid of those things that are bad, add to that shuffling the deck it always seems like they got six or seven different operating areas. at any given time, three are okay three are bad. do they have the right mix now with flannery? >> well, flannery was handed a very difficult hand. i think he's doing a good job. he knows he can create value by spinning medi

baker had just too much for highly rated british sprinter zharnel hughes and won the race in a time ofgames gold medallist akani simbine and former world champion yohan blake. that's all the sport for now. we all have our own experiences of hearing loud speaker announcements at railway stations. some are easier to understand than others. for the last six months, one of london's busiest underground stations has been trying an unusual way of getting passengers' attention. dougal shaw reports. around 250,000 people use victoria station in london each weekday, and for past few months, they've been hearing an unusual voice. meet the station's newest — and youngest — safety announcer, nine—year—old megan. her proud parents both work at the station. i said to my colleague that my wife was bringing down the two kids to meet me after work and he said, "would megan mind doing a pa announcement?" she does like a bit of acting. i knew she's be up for it. i was really nervous when i first was going to do it but then once i did it, i thought, "this is actually 0k!" hello, everybody, and please liste

hughes had to settle for silver in the 100 metres. he beat the commonwealth the commonwealth games gold medallist akani simbine and former world champion yohan blake, but couldn't quite edge out america's ronnie bakersome news coming in from israel this morning. officials say they completed a humanitarian operation to rescue civil defence workers and their families from a war zone in southern syria. paul ronzheimer is from the german newspaper which broke the story and has been embedded with the group. thank you forjoining us. can you

baker of the u.s. took top spot. he finished the race in one point nine zero seconds ahead of second placed zano hughes of great britain. and in the men's four hundred meters qatar's tore up the track in the final stretch with an impressive win over powering polled the deal of the u.s. look at terry's time of forty four point zero seven seconds was a national record. and in pole vaulting american some kendricks got the best mark defeating closest rival renewal of year new all fronts and you can see the american truly is in the mood for a victory lap was in the women's long jump britain's share of proctor who has battled injuries in recent years to gold with the season's best leap of six point nine one metres. and in the men's four hundred metres hurdles norway's cost involved will who won gold at last year's world championships sprinted to victory in forty seven point six five seconds. oh you're watching news life from berlin we have more coming to you at the top of the hour but you can also log on to our web site that's dot com really easy to remember for around the clock news and information but in the meantime we wa

hughes clocked 9.93 seconds at london stadium, beating commonwealth games gold medallist akani simbine and former world champion yohan blake. he couldn't edge out american ronnie bakeras reflected by a 1—2 earlier today. shara proctor edged out rival lorraine ugen byjust 3cm leaping 6.91 metres. i have been waiting for this moment, hopefully i can build on this and go to the championships and, way with the gold. timing wise, this is perfect. you feel you have more to come? definitely, definitely. i don't feel as sharp today. if i can don't feel as sharp today. if i can doa don't feel as sharp today. if i can do a good job today, i mean, i know ican go do a good job today, i mean, i know i can go back and refine some things and be sharper. in rugby league, catalans dragons will be in super league next season after winning a crucial match against salford red devils. they won by 411—10 in perpignan with fouad yaha scoring four tries for the first time in his career. and before we go a reminder that lewis hamilton will start back in 14th place for tomorrow's german grand prix after breaking down in qualifying. championship leader sebastian vettel will start on pole in h

hughes had to settle for silver in the 100 metres. he beat the commonwealth games gold medallist akani simbine and former world champion yohan blake, but couldn't quite edge out american ronnie bakerr now. more in the next hour. thank you very much. mps are calling for a consultation on whether to ban the sale of realfur in the uk. the environment, food and rural affairs committee has been investigating why many high street retailers illegally sold fur described as fake, which had in fact come from animals. sarah corker reports. in the 1990s, evocative anti—fur campaigns raised awareness of the issue. decades on, some shoppers have been unwittingly buying real fur labelled as fake. it emerged that several major retailers had sold products described as artificial but tests showed were made from fox, rabbit and chinchilla. now an inquiry by the environment, food and rural affairs committee accuses retailers of being complacent about the problem. disgusting. absolutely disgusting. i would be devastated if i went and bought, you know, an item that i thought was faux fur and actually it turned out that some poor animal or animals had been slaughtered. i'd be devastated. the reason why

hughes had to settle for silver in the 100 metres. he beat the commonwealth games gold medallist akani simbine and former world champion yohan blake, but couldn't quite edge out american ronnie bakerl lorraine ugen byjust 3cm. proctor‘s winning jump was 6.91m. and finally, there was a bizarre incident at the anniversary games in the women's 3000m. keep an eye on ethiopian runner fantu worku. she was leading the race, but inexplicably stopped running with just 200m left! it allowed the rest of the field to pass her. it's not clear whether she thought she was at the finish line, although it looked like it. what was going on?! i still don't know. i cannot come up with an explanation. have we heard from her? i presume she thought that was the finish line. after that, there was no point. listening to the commentary, they were saying what is she doing? why is she stopped? only 200 metres to go! all of that preparation and effort. a lot of preparation and effort. a lot of preparation also the golf, but continues today and five live will be your place. thank you. good stuff! now, if you're a virgin media customer hoping to catch up with some tv viewing on dave, gold or drama, you may be d

hughes had to settle for silver in the 100 metres. he beat the commonwealth the commonwealth games gold medallist akani simbine and former world champion yohan blake, but couldn't quite edge out america's ronnie bakerorkers and their families from a war zone in southern syria. paul ronzheimer is from the german newspaper which broke the story and has been embedded with the group. thank you forjoining us. can you tell us where you are and what happened? right now, i am back in tel aviv but before that, the last two or three days, the whole night, i've been on the israeli border and i was able to witness what was actually happening, it has never happened in the last year due to syrian, that refugees were able to cross over the syrian border and then to go tojordan. it is exceptional because the people who crossed were white helmets, half of them were able to get to israel and then to jordan, and them were able to get to israel and then tojordan, and now they will over the next two or three months the refugees in the uk, germany, canada and the netherlands. can you give us a sense of how they are feeling? did they expect to be rescued? where are they now? right now, the members, the refugees, they are

hughes had to settle for silver in the 100m. he beat the commonwealth games gold medallist akani simbine and former world champion yohan blake, but couldn't quite edge out american ronnie bakerrival lorraine ugen byjust 3cm. proctor‘s winning jump was 6.91m. and there was a bizarre incident in the women's 3000m. the ethiopian fantu worku was leading the race but inexplicably stopped running with just 200m left. it's not clear whether she thought she was at the finish line, although it looked like it. she is 19 years old so possiblyjust didn't quite spot where it was and even part of the commentary team michaeljohnson said he had not seen anything like that, it was strange. can you imagine how she was feeling? she must have been gutted. so close. just to say that frat house referenced earlier, the players were saying a film, old school, i will ferrell movie, and the older ones in the house like thatjohnson who is 42 says it has a feeling like that, going back and doing something that she never did in the first place. —— he never. there are a few scenes in that film but i hope they do not reenact! 50 years ago, around 100 people gathered to watch the sister of the us president