-- i love berkshire hathaway's stock anywhere.tick with cramer. >>> but is the appetite for fast food in china big enough it's local versus global in a battle between pies, thighs, and tacos. which yum can fatten your wallet >> last november, yum brands, the parent of pizza hut, taco belland kfc, broke itself into two separate companies young china, which got their fast growing chinese business, and the remaining yum brands now that it's been put to bed for eight months, you know what? i think it's time to give both stocks another look and figure out which is the right one to own, which is better, yum or yum china? you need to understand the gene genesis. china's company had slowed considerably in 2014 and 2015, and the company's once fabulous numbers had gotten hammered. yum was doing just type everywhere else, but china had gone from being the jewel in the company's crown to something that scared investors away, but still held up tremendous promise of growth, as it had been the driver the way to play china for years, frankly. af

berkshire hathaway way is its biggest holding at 12%. welcome. >> thank you, happy to be here. you have a big bet on berkshire and you're watching mr. buffett take big stakes and the latest one ta some anticipate, interpret as a defensive space because it's in a eutility business. >> he's been known for years as having the most value bable asset as investor, which do absolutely nothing. he there's a lot to deploy now. a lot of cash -- in the utility business has been good to berkshire over time. the beauty about it is that the if you play an entry multiple, in this case, almost $20 billion in cash to acquire, if you then get is an extremely valuable able ility to reinvest even mor regulat utility business. at fixed rates of return. so imaginee pai ten times cash earnings at the moment if the deal goes through. subsequently on top of the 20 billion here. he'll be able to tens of billions of dollars over time at high rates return. >> but he is going up against elliot management, which is a tactic he frequently employs. there are those out there who are interpreting that as a n str

the unit of warren buffett's berkshire hathaway has agreed to it texas regulators blocked two earlierttempts to sell oncor to two other utility companies. >>> the argument here is that berkshire will be able to get this deal done because they don't pay a dividend >> yeah. >> according to the speculator on texas regulators. >> sharing some of those cost savings with the utility customers. >>> stocks to watch, siemens setting up a task force to investigate reports that its turbines had been delivered to crimea for use in russian-built power plants reuters reporting three separate sources had knowledge of the delivery shares of siemens are down about a quarter percent. >>> tesla is building the world's largest lithium-ion battery in southern australia, this is part of a bid to solve an energy crisis that led to ongoing blackouts across the region tesla stock slipping yesterday with the market value falling behind general motors and ford shares are up 2% after it did hit bear market territory yesterday. >>> mondelez saying haven't sret cyberattack will cut into its growth there will be a

a good fit would be for berkshire hathaway, and i think they agree.r being with us. coming up, tech, financials, and the summer squall. at earnings with julian emanuel. and then we will talk about today's market environment. governor foruty the boe was speaking in scotland, he made some headlines, looking at the pound, taking a look lower on the news. he said a reduction in trade with the european union would be damaging to the u.k. and potentially morning into a more dovish camp for the boe after hearing a lot of hawkish talk. is this another point to not wind up hiking rates? that is the issue that the fx market is contending with. much more on that. this is bloomberg. ♪ daybreak.s bloomberg coming up in the next hour, conversation with stephen lark, the metlife cio. now to your bloomberg business flash. goldman sachs as opec needs to shock and on oil market for prices to gain. the bank says they must increase output cuts to prevent oil prices from slipping further. the analyst said without further production cuts and inventories remaining so high,

zblnc >>> it was close, now, berkshire hathaway way has agreed to pay 9 billion for the energy future holding company, one of the nation's biggest power transmission outfit, but berkshire may face competition. elliot management is considering a rival bid. berkshire hathaway finished up 25$,00 >>> mondoleze said the cyber attack would impact its final results. the maker of oreos and sour patch kids said the shipping it experienced would cause revenue growth for the second quarter to fall 3%. the shares were none the less up 16 cents on the session to 43.22. >>> sears is closing more stores. they said it will shut eight sears and 35 unprofitable k-mart stores by early october. sears also said it will continue to open smaller constant stores, which it focus on its strong erakat cats. the shares were off to $7.78. >>> rothwell collins is raising exp new buyback program by authorization to cover buybacks into 2018. shares were unchanged, but finished up nearly 1% to 106.36 and the mobile software developer said last night that it may consider selling itself. the company said if the board o

as far as oncore, 10 million customers, 73 million income, quarter ending, berkshire hathaway energy, they have six big utility companies and they add to that. cheryl: tracee, thank you very much. we also have the story following for you, samsung saying it expects second-quarter operating profit going to hit a record high thanks to boom in memory chip sales. company estimating it made over $12 billion. up more than 70% a year ago, massive growth and data. samsung, the news coming after the company was force today recall the galaxy note 7 smart phones last year after several of them overheated and a couple of them caught fire. lauren: the biggest economic report of the month comes down in about four hours from now, three hours from now, an hour before the market opens. the june job's report could be another disappointment though. we have seen payroll growth missing expectation in march, april and in may. this what exists are looking for for june. 179. a thousand new jobs added, 138,000 in may. as for unemployment rate, that's expected to hold at 4.3%. we, of course, will have complete

exclusive interview last night on "mad money," encore ceo bob shopered told jim cramer that berkshire hathawayn edge over elliott management's bid for the company, an increasingly hot drama listen. >> we know elliott well. they're great folks, our largest creditor. >> right. >> at this point, it's conceptual we're not seeing any specifics from them. >> okay. >> they're fine people, but all i know is what's in front of us is buffett the berkshire hathaway deal would be great for this company. >> right. >> i just don't know enough about elliott anymore. >> they are considering a $9.3 billion takeover of the bankrupt utility company. >>> on today's wall street agenda, fed speak and earnings brainerd will speak about monetary 308policy in new york 12:30 and we will hear from neel kashkari this afternoon. and look for wholesale trade numbers at 10:00 eastern pepsico reports earnings before the open and we'll talk with cfo hugh johnston in a first on cnbc interview at 9:10 eastern on "squawk on the street. what are we looking for on pepsi numbers? >> with pepsi, the neilsen data, which tracks sort o

we will also see another big round of earnings including apple and berkshire hathaway. auto sales.here with more on wall street week ahead. su: action-packed week especially for the bulls, apple and tesla. we have momentum stocks. let's take a look at the close, because we did not have stocks flying. it was next. -- mixed. let's go into the bloomberg because at least one major fund #btver brought up this, g -- when you look at the market cap and ratio against gdp ratio, you look at that. suggestingould be some kind of selloff ahead, caution flag. a lot of earnings if we look at particular names. a lot of them are bellwethers for the economy, berkshire, siemens, ing, pfizer. haidi: of course. you are talking about apple, that is the big one we are focusing on as well as berkshire. what is the expectations? numbers,dition to the the numbers as always on the launch of the iphone 8, and there are not many rivals. let's go into the video if we can. netflix and facebook have been surging. we look at the bank stocks on the numbers they delivered, you have to crash them because google have

berkshire hathaway offered $9 ncor.on cash for o elliott is pushing for more time to put a deal in place two sides will be back in court to this month. indian inflation fell in june to its lowest ever, adding pressure on the reserve bank of india to cut interest banks when it meets next month. let's look at at the prospects of that with mizuho bank. markets are underestimating a case for a halt. they can cut interest rates. they can do that because the inflation environment is so benign, but how much difference does monetary policy make in india given where it is compared to more developed countries? also, does it help corporate india and not consumer india? >> i think that is a good point you make. monetary policy at the margin will help given that corporate debt levels are high, and also will help where the r.b.i. policy is trying to extend the reach of the banking sector to consumer india as well. so on those two fronts it ought to help, but the banking sector has an issue where they are capital constrained. even if the rbi were to cut rates, the transmission of monetary policy remain

warren buffett is giving away $3.2 billion in berkshire hathaway stock. 6-year-old number two on forbes annual list of richest people has pledged to donate 85% of berkshire stocks to charity, including this year he has donated $27 and a half billion. two big chains offering free food today. >> yes. chick filet. this one is hard to turn down. you appreciation day at chick filet. free entrees and kids meals until 7:00 p.m., but there's a catch here. you have to dress up in you attire. meanwhile 711 giving away to mark the company's 90th birthday. if you buy seven slur . >>> they could struggle to gain ground. following a mixed session on monday. nasdaq rose for second straight session. dow flipped just slightly. european market haves started the day in positive territory. pulling back a bit as oil prices dip lower. back over to you. >> see what happens today. landon dowdy, thanks. >>> warm and muggy start. potentially stormy afternoon. that's a live view from poconos. just a few scattered clouds there at 5:26. at the shore, see some scattered clouds there to

warren buffett's berkshire hathaway energy units has agreed to buy texas'largest energy utilizer.y invite in equity value of about $1.25 billion for 100% of the company. the takeover is key to ending the bankruptcy for energy future holdings. it's part of the biggest leveraged buyout in history. samsung electronics has topped analyst estimates with its best operating profit, income rose $12 billion at the end of june, that's as local demand for semiconductors remains strong and the newest galaxy smartphone one over customers. that is your bloomberg business flash. thank you very much. the world leaders are gathering in hamburg for the most anticipated and eventually the most turbulent meeting in years. the hostess, angela merkel, will problemsg to avoid the that happened at the g7 in may. matt miller is on the ground. matt, good to see you this morning. this is a big meeting for trump and put in. what can we expect there? that's the question that everyone is asking. how will this play out for president trump? howlett play out for president putin? will president trump confront pres

. >>> berkshire hathaway could be buying encore. according to the "wall street journal." last year, nex ra's was jekted by bidders in texas. shares were off a fraction. a fraction. $1950 a share to $255,550. and as we told you week, this was coming, but today, microsoft announced the a major shake up that will include thousands of layoffs. the tech giant said the cuts will mostly be in sales as the company aims to change the way it sells cloud services. shares of microsoft were off 51 cents to 68.57. and endo international took its painkiller off the market. amid rising concern about addiction and overdoses. last month, we told you the food and drug administration asked for the drug to be removed. saying the benefits tho longer outweigh the risk for abuse. endo shares down 2% today . >>> despite the departure of some of the top executives from ge and uber this career, pay is still great. accord to the research firm, ceo pay rose 6% last year. the highest it's been in three years, so why then things seem to be shaky for ceos? jp eggers, professor at new york university joi

to counter that of berkshire hathaway's. back to today's top story. the g 20 summit and president donald trump meeting with russian president vladimir putin. joining is now johnny grubb ponte, former u.s. ambassador to ,he united -- john negroponte the former u.s. ambassador to the united nations. he joins us now from washington. thank you so much for joining us on the show. i wanted to ask you whether you think the meeting between the two presidents of russia and the united states was successful? >> first of all, the fact that it took lace was important. secondly, they seemed to have touched many of the relative topics -- relevant topics. let's not forget that with a two and a half he or -- two and a half hour meeting, you have to divide that by two because of interpretations. so they met for about an hour, which is not much time to cover the large agenda which should exist by nature between two countries like the united states and russia. i would say this is a good first step, but there need to be more meetings. i would as

. >> still ahead, why small caps could delive >>> warren buffett's berkshire hathaway way is buying 700 million shares in bank of america. that makes him the largest shareholder in that bank. berkshire plans to convert the purchase into common shares. it gives the holder the right, but not the obligation, to buy a security at a certain price and quantity at future time. also the top shareholder of wells fargo. >>> cara therapeutics tanks. that's where we begin the market focus. they cut the rating on the stock today to neutral from buy. saying the results from the company's pain medication study were disappointing. the trial showed that patients who were treated with the tested drug at lower doses did not experience significant reductions in joint pain. shares of the small cap plunged to nearly 40% to 15.39. not a good day there. real estate investment trust parkway properties will be bought by canada pension plan for more than a million dollars. canada's largest public pension fund said the deal compliments its long-term real estate strategy. parkway properties up 12% to 22.89 and e*tr

largest investor charter communications, the talks are still preliminary, but could see buffett's berkshire hathaway more than $10 billion into a transaction. sprint is under pressure as it faces growing competition from its much bigger rivals at&t which is in the process of buying time warner and verizon which is working to dif wrennuate with its yahoo! and aol acquisitions now renameded oath an infusion of cash would help sprint to better compete it would impact the range of negotiations it's been having. sprint was in merger talks earlier this year with its larger rival, trk mobile, the two companies b tabed those talks in may, so sprint could negotiate with charter and comcast. potentially selling stake or making a deal to allow them to sell sprint's wireless service as part of their cable broad band bun ls. now, with the pending acquisition of time warner raising questions, folks here including discovery ceo have talked to us about the fact they think more consolidation is inevitable between cable, broad band and phone and that these companies will look to differentiation themselves so we'll ha

look at shares of berkshire hathaway.o buy energy future holdings corporation for $9 billion cash. encore, not such a great reaction on the stock price up $0.02. 22,000 jobs in june more than expected, former c ke restaurant ceo andy pozner joins us. what are your thoughts on the latest jobs report? >> it fits in with the narrative we have been discussing of the surging economy. you talked about the 222,000 jobs, about 900,000 since the beginning of the year but let's talk about the people working, 640,000 more people working, 245,000 added month. for the comparable period february to june last year under president obama there were 47,000 people additionally working so a huge improvement, 944,000 more people working full-time jobs, and fewer people working part-time job so the jobs are better, you see people returning to the labor force, labor force went up -- the population 190,000 so you have 170,000 people reentering the labor force because they think they can find good jobs. it is a positive report. ashley: why is wag

more about apple, apple, berkshire hathaway, apple on august first, so what is the expectation?> when the most viable company reports it is of the wherefore the economy and tech. fangve seen with the stocks that if they don't crush it as netflix and facebook did come a can flounder as amazon has, so will they hit the numbers? hear what they have to say about the iphone 8 and expanding into australia to do green projects, solar, wind. china has a company that is posing arrival to iphone sales. is that causing a dent? again, expectations for eps, anything under and you can see the stock punished because investors have priced in strong earnings. hathaway,f berkshire what is interesting is what they have to say about the railroad and manufacturing units. it is also a bellwether for the economy. company and how his outlook is for the economy and how it is impacting his company as a clue as to how to proceed. >> we will also get the latest labor statistics. will it is positive, it shore up the optimistic economic outlook we heard from the fed. the expectation is for the addition of 18

berkshire hathaway has agreed to buy reorganized future energy holdings corp for 9 billion in cash, oncor's parent i don't know if this deal will go through >> it's the dollar figure we're still trying to figure out 9 billion, is it 17.5 billion -- >> it was a bankrupt -- >> we said 11.9. was that -- >> we just said 9 -- >> he paid 9 but made the value 11.9 >> is this energy guy taking over for buffett >> that's my questions greg abel is who i would -- >> can't you call and ask? >> they won't say. >> ask warren? >> no. >> have you asked him? >> y i askes, i asked him off c on camera. >> have you asked him today? >> you're supposedly here because of the jobs report >> i don't know why i'm here >> you did the longread which didn't want to do which is torturous for myself and viewers. the same as when i do it >> at least you make fun of your inability. >> other people are choosing the three dig stobig stories and wr it i don't want to own it a lot of times. >> you would rather ad lib it this morning >> this, i want to -- this i'm -- i'm reading this in advance. i don't understand what's going

berkshire hathaway is the world's second richest man according to forbes billionaire list with a net worth of seventy six billion dollars he says it's the mega rich as the billionaire they're taking too much and they're causing the rest of the economy to atrophy and die with their and i guess he should know but what do you think of warren buffett one buffett died five years ago actually he says corpses of the beatles he's kind of like you know a walking corpse and he's walking down the stairs and he's facing the mare and seeing who he really is and what he's saying is kathleen gifford is really who warren buffett is. a lot of people in the world don't know kathleen gifford he see it well that woman with that act they out comedienne who did the trial heard oh yeah well i'm sure. this is no restart you got to keep on going oh ok well then yeah that woman. that's who he really is and dear mowlam yeah he's holding he's holding the economy ahead and rush all fire him we should say exit stage left to decapitate the commies holding the bloody head of it and face himself all right well we go

of is allocated to social security so that every american has a stake in apple and amazon in berkshire hathaway and all the stocks in the seventeen to twenty trillion dollars growth in these set and the stock market plus the bond market plus the four x. market now the executives wouldn't care they would notice it earnings would be impacted by a few percent but not that their earnings are a number that are and that are misawa anyway i mean right it's inconsistent it is no one way to do earnings across all the different sectors so you end up with an american social security pool all capital so if the economy goes through if it jeff bezos comes through wipes out an entire class of worker that worker has a piece of amazon and then they would get their kids get eighteen years of age or whatever there's money for college to be educated there's money for health care so it's kind of a twist on the tobin tax a little bit where you would tax all financial transactions a little bit this is a live a more equity oriented or stockbroker friendly if you will what do you think of this idea of turning social se

and more about this berkshire hathaway striking a deal to buy power transmission companies. this would make electricity one of the company's largest businesses. berkshire would buy holding corp. for 9 billion in cash. valued $18 billion. largest ever if regulators approve it in the state of texas. those are your headlines. maria: top story in the journal. mike: a lot of undervalued energy assets out there and buffet is looking for because he has so much cash, he's looking for larger acquisitions and would get approval and we need to improve the energy grid in this country and buffet would be wasn't step toward that. i like it and there's a lot of energy assets out there that are undervalued now that would be acquired also. maria: lots of deal happening in energy. what does that mean for oil prices, we talk about it a lot that with all of the supply and the u.s. doing more drilling that would -- you would think send prices lower. mike: today we are lowering the price of oil and more oil comes to the market and technology is a big part of that, we can get oil quicker and cheape

the berkshire hathaway unit nearing a deal to buy energy future holdings, encore, the largest transmissionome of the third to face texas regulators are utilities. -- utilities they have highly guarded. equity partners nearing a deal to split up health and education consultants advisory board. would -- vista would buy the education business. they were closing at their highest since december, 2015. harm: betty: plenty more to come -- betty: plenty more to come, asia's first market open moments away. yvonne: a busy, busy day in the markets. earnings reflected here in a samsung, as well. >> markets looking skittish. a central banks amp up the hawkish rhetoric. futures looking slightly lower across the region. for the global lot -- global bonds selloff. samsung, after reporting a record quarterly profit of $12 billion for the quarter, topping analyst estimates. we watching for reaction to the latest results, missing estimates, a 22% drop in income. after news itca, is teaming up to buy a 50% stake in u.s. genetics. that is what we are watching when treating gets underway in australia, japan, ko

monday year she's been built with warren buffett of berkshire hathaway inc.hat cable mogul john malone with the carter communications. the meeting possibly about investing in spring. the talks are preliminary. all of this according to the journal report. since comcast has been in exclusive talks about an agreement that would allow them to reach a wireless service under their own cable brand, merger talks with t-mobile. >> that could be a major deal. cheryl: sprint with regard to prior during gamble. >> investor with the plans with 3.3 of alien p&g stock. the move would make p&g with the market rally of 22 billion the largest company to face a proxy. it would mark a new milestone with the biggest u.s. companies in recent years after five months of discussions when they reject the demand for trained to name the director last week. lea: let's talk about movies for a second and tv shows. reporter: most people were up late watching "game of thrones." hbo's website was no match for the "game of thrones" fans last night. hbo's website crashed during the seventh seas

. >>> and berkshire hathaway striking a multibillion dollar dear to buy a utility company. details coming up. it's friday, july 7, 2017. "worldwide exchange" begins right now. ♪

berkshire hathaway confirming the purchase of an energy company.ff zucker responding to the president's criticisms. and we have a challenge to the president's refugee policy that was denied. ♪ ♪ ♪ ♪ ♪ ♪ whoa that's amazing... hey, i'm the internet! i know a bunch of people who would love that. the internet loves what you're doing... ...so build a better website in under an hour with... ...gocentral from godaddy. type in your idea. select from designs tailored just for you and publish your site with just a few clicks-even from your... ...mobile phone. the internet is waiting start for free today at godaddy. liz: anti-coop tallist riots continue in hamburg, germany. police are using water cannons to push back the crowd. these riots have been happening at these summits for years around the world. debate on the president's refugee will be taken up in the fall. we have this story for you. an ohio man pleading guilty to trying to join isis. according to justice department, aaron daniels was charged with providing support to a foreign terrorist organizati

among those categorized as small businesses were a division of billionaire warren buffett's berkshire hathawaylos slim's global conglomerate. how generous are you, the taxpayer to help him out? last month on swamp watch we exposed solyndra for government handouts. both the swamp things got cashed before they went bankrupt. solyndra got 10 million dollars in loan guaranties. and which citizen of the swamp was at the center of that? none other than former democratic governor of new mexico bill richardson, he sat on the advisory board of ex-im bank around the time one lent money to the other. any time the federal government doles out fraud, in fact, we found at least 85 indictments for fraud, bribery or other wrongdoing involving the ex-im bank. we could spend all night showing you examples of swamp dwellers caught stealing our money. the problems are bigger than that. the bank makes money for the federal government, not true. they're long out our money at below market interest rates. they're effectively giving it away. the manhattan institute found that ex-im bank's protests are almost surely ac

the berkshire hathaway deal would be great for this company.et. >> catch jim's full interview with that ceo tonight on "mad money" beginning at 6:00 p.m michael, this one, i love this i love everything about this >> it's a great setup. first of all, i think they're great people they're our largest creditor is kind of something that goes along together, you take it with a grain of salt. also a test of that kind of buffett discount so to speak, he's the privileged buyer. everyone wants to sell to him. >> i'm not surprised, if buffett is on one side, you're on other, you don't want to be. >> do you want to be the one paying much more >> history of the company, the bankruptcy wooe we're out of time please, everybody, join us tomorrow that does it for "closing bell." "fast money" starts now. >>> live from the nasdaq market site i'm scott wapner in for melissa lee. tonight, on "fast" one of the big est bulls on wall street getting more bullish tony dwyer just raised his s&p target for the next two years. he'll explain what has him so excited. >>> plu

warren buffett, berkshire hathaway, want to buy electric grid company on core, $9 billion in cash. assuming the debt. he thinks it will win over texas regulators for the sale since two earlier suitors failed to get the sale. remember the promise to repeal and replace obamacare? senate majority leader mitch mcconnell admitted it may not happen. at rotary luncheon he said, if my side is not able to agree to adequate replacement, some action from the private market must occur, if we can't replace it we'll fix it? mcconnell said he may produce a fresh bill, more limited in scope a week ago. according republican health care bill according to poll something least popular bill in 30 years. it is worse than tarp. fox news contributor deroy murdoch joins me now. is he giving up? what do you think of mitch mcconnell? >> i think mitch mcconnell is engaging in malpractice. trish: wow. >> he has members of his caucus at home dealing with protesters, dealing with town halls. the last thing these guys need and gals need in middle of all this, their leader, oh, well, it will basically not work, ta

i remember when berkshire hathaway did nothing for ages.rofessional investor, this waiting can be unnerving. you have partners calling you regularly, asking what you're doing with their money individuals have no such pain. individuals can sit on stocks as long as they want. when i counsel patients, many get antsy. i say some of the best stocks require some incubation. do you know how patient i was owning intel, one of the greatest stocks of our generation for 18 months, i watched intel do nothing, paint dry, paymeint dry, but i believed. i had only a few partners. a common strain of those who would call regularly to ask how i was doing. later in my career when partners hounded me daily, i would have never held on to an intel that way. lots of turn arounds take 18 months to two years. when you buy a sfok and recognize that it could take a long time to turn, market it as such in your mind so you don't get tired of it and just sell it, you give up. here's something really important to remember. stocks that are stuck in the mud a long time tend

go to fiosgigabit.com >>> warren buffet is giving away $3.2 billion in berkshire hathawayities, including the bill and melinda gates foundation. 86-year-old has pledged to donate 85% of his berkshire stock to charity, including this year, he's donated $27.5 billion. >>> and forget amazon prime day. how about some free food today? 7 eleven is giving away a free small slurpy from 11:00 a.m. to 7:00 p.m. to mark the company's 90th birthday. starting tomorrow, 7 lefb eleve kicking off slurpee week. i'm landon dowdy. >>> and if you're not in the mood for a slurpee, chick-fil-a is offering free chicken today but there's a catch. the fast food restaurant is offering a free entree, to chicken sandwiches, nuggets, and more to anyone dressed in cow attire. the reason, it is cow appreciation day. i don't know how much a cow costume would cost you, b probably more than a value meal at chick-fil-a. >> you can print it out. i looked into this. you can print out like a little thing, little ears and tape them on and they'll honor it. >> there grow it have cheap way of doing it. >>> taking

warren buffett at the berkshire hathaway meeting this year did a shout out to jeff, basically sayingere is nobody that has been what he has done to companiesgreat big under one roof. amazon and enterprise services. and retail. and prime. walt: right. on the side,ntion, saving the washington post. it reminds me of you jobs in the sense that, you know -- of steve jobs, in the sense that, you know, he founded apple, then he came back and saved it. then he was running pixar, with kind of his left hand, or right hand. i once said to him, -- and remember, pixar had run off a string of the biggest hits in hollywood for a period of some years there, and won all these oscars and everything -- and i said "when do you have time to run pixar? he sai" -- pixar"? he said "i do that on friday." when you use to going to a computer store -- charlie: by square footage, some of the most profitable stores in the world. walt: may be the most profitable stores. on fifth avenue, it takes in more per square foot than i think tiffany's. he was usually involved in that. charlie: and the most interesting for y

warren buffett is giving away $3.2 billion in berkshire hathaway stock to five charities including thel and melinda gates foundation. the 86-year-old, number two on the forbes list of richest people has pledged to donate 85% of his berkshire stock to charity. including this year he has donated $27.5 billion. >>> forget amazon's prime day, how about free food? 7-eleven is giving away a free small slurpee from 11:00 to 7:00 p.m. to mark the company's 90th birthday. if you buy seven slurpees through the mobile app you'll get coupons for 11 more for free. >> goodness. my kids will be all over that. >> our coworkers will love that. they'll start rounding up slurpees. >> a lot of cupholders. >>> photographer in north carolina capturing stunning images off the coast of north carolina. that's actually a waterspout that formed in kill devil hills yesterday morning. no doubt that scared a lot of people as the photographer was at the beach with her children when the spout formed. the area at the time was under a tornado warning. when the waterspout formed. so far there is no word on any damage in

warren buffett at the berkshire hathaway meeting this year did a shout out to jeff, basically sayinge is nobody that has done what he has done, to build two great big companies under one roof. amazon and enterprise services. and the retail. and prime. walt: right. and not to mention, on the side, saving the washington post. the reminds me a little bit of steve jobs, in the sense that, you know, what people don't credit him with is that he save doubtful, he founded apple, then he came back and saved it. then he was running pixar, with which was kind of his left hand, or right hand. i once said to him, -- and remember, pixar had run off a string of the biggest hits in hollywood for a period of some years there, and won all these oscars and everything -- and i said, "when do you have time to ?"n pixar he said, "i do that on friday." when you use to going to a computer store -- charlie: by square footage, some of the most profitable stores in the world. walt: maybe the most profitable stores. on fifth avenue, it takes in more per square foot than i think tiffany's. he was hugely involved

warren buffett is giving away $3.2 billion in berkshire hathaway stock to five charities including the bill and melinda gates foundation, the 86-year-old, who is number two on the forbes annual list of the world's richest people, has pledged to donate 85% of his berkshire stock to charity. including this year, he has donated $27.5 billion. >>> forget amazon's prime day. how about free food today. 7-eleven is giving away a free small slurpee from 11:00 a.m. to 7:00 p.m. starting tomorrow they kick off slurpee week. buy seven slurpees through the mobile app and get coupons for 11 more for free. sounds like a nice news room party. >> we're always ready for one of those, landon. >> slurpees all around. they've sold 7.4 billion slurpees since 1966. >> we'll get up to 7.11. thank you. >>> new this morning, you're looking at video showing a white humpback whale swimming off australia's east coast this morning. authorities believe it may be a white whale. no word on whether ahab is involved in this. it's making its annual migration to the great barrier reef. up to 5,000 humpbacks migrate north

. >>> and warren buffett donated more than $3 billion in berkshire hathaway stock to five charities.ill and melinda gates foundation received about $2.4 billion of the total the four other charities are buffett family foundations and after yesterday's donations, warren buffett remains the world's fourth richest person, according to "forbes" magazine he still owns about 17% of berkshire hathaway, despite having donated more than 40% of his holdings so far. >>> in washington news, senate republicans are scheduled to be updated on the bill to repeal and replace obamacare during the closed-door meeting today. kayla tausche joins us now with more kayla. >> good morning, michelle. those meetings have been happening almost daily when senators are in session, as majority leader mitch mcconnell is trying to stitch together a health care bill that can win 50 votes from his party a forthcoming version this week is expected to include changes like $45 billion in opioid funding, up from $2 billion in the original version, the ability to pay for premiums from health savings accounts and potentiall

warren buffett and berkshire hathaway confirming a $9 billion purchase.king up the giant out of bankruptcy when he was talking to me there back in may, he said i want to swallow a big whale. 9billion, he's got billions more in cash. but it's a big one. big enough. the all cash deal still needs to approved by a bankruptcy judge and texas regulators. stay tuned on that. and the famed running of the polls in spain off to just a wild start. this is not file video, folks. this is video that was fed in just moments ago. but -- look at these people. wait, are you supposed to wear white? yeah, you don't want to wear red like the dude in the lower white there. not a good idea. bulls do not like to see red. is anybody getting gored? let's watch this during the commercial break. anyway, the bulls are running when it comes to facebook already using its horns on the social media world now looking to tramp he will the biggest names. still ahead, long-term friend of mar mark zuckerberg michael wolf. coming right back i'm jamie and i'm the fifth great-granddaughter of be

the wall street journal reporting that berkshire hathaway could put more than $10 billion into a transactionsort if the deal goes through. looking at sprint shares, up 5 full percentage points. not a bad move for sprint at the moment. maybe get in there. bad news, though, keeps piling on for snap. another ipo underwriter. this time has downgraded the stock and lowered its price target. earlier in the week, morgan stanley changed the tune on snap, downgrading the stock and slashing the price target saying maybe we were a little too aggressive or outright wrong in our expectation of ad sales here. snap right now down another 2.5%. let's get to president trump. he did spend the early part of the day celebrating in paris with president macron of france. while picking up steam here in the united states, fox news has confirmed that there was a second russian at the meeting with donald trump jr. last year who had come with the woman on your screen who is a lawyer. a russian american lobbyist has confirmed he was the one who was also in attendance. adam shapiro at the white house with the possible c

he met with berkshire hathaway and liberty separately, and of course this was happening apparently at sun valley, idaho. we will continue to monitor these headlines. sprint up by better than 2.5% of the moment. from new york, this is bloomberg. ♪ ♪ julia: not to washington, senate majority leader mitch mcconnell's health care draft is headed to a further rewrite again. while in paris earlier today, donald trump voiced his support from o'connell's work on twitter, tweeting "republican senators are working hard to get their failed obamacare replacement approved. i will be at my desk, pen in hand." is an unfortunate word. take three. we knew this was destined for a further rewrite yesterday, when we got that quick take statement from john mccain, suggesting it probably needed more work. the bottom line is here is that the moderates are not happy. they cannot justify the cuts to medicaid, among other things back home with voters. >> i think what we are looking at now is that they are to hard noses, rand paul, saying it does not go far enough in repealing the affordable care act, and susan

berkshire hathaway is coming out too.e floor show, traders of the new york stock exchange. you have amazon dragging the market down with a little bit of the tobacco headwind too. but we also got north korea launching another missile that we haven't even gotten to yet. very close to japan. that's today. what about next week? what about over the weekend? it seems the news flow just doesn't stop. >> it seems the news flow doesn't stop with all the palace intrigue down in the beltway as well as what's going on internationally with missiles being fired in to rattle the saviors a bit. yet the market just keeps going up i really don't know what to say at this point. the earnings reports are what people are focused on right now. they're certainly taking a backseat. it's a typical summer sunday where you have a little bit of a lack of participation here. but i think the good news is you've mentioned amazon dragging down from last night's earnings report. you're starting to see that in the tech trade a little bit yesterday as a whi

all i know is what's in front of us is buffett so the berkshire hathaway deal would be great for thisompany i don't know enough about elliott yet. >> you'll catch the full interview with jim and the oncor ceo robert shapard on "mad money" right after us 6:00 p.m. eastern time. >>> shifting gears from hard ball to baseball, the mlb all-star game is tonight or tomorrow night, so in honor of america -- i was thinking the home run derby in honor of america's favorite pastime and our favorite segment we're doing a special all-star edition of the fast pitch. each day this week one trader will pitch a stock they think is worthy of a buy and the traders on the desk will vote on whether they're buying or selling that pitch. guy adami, you're up first. >> i appreciate that, scott. what better night than home run derby night? >> that's right. >> here's the stock we talked about a long time, the name of the stock, going to pull it up right here, is red hat the symbol, rht. this stock has been an absolute monster and people will knock this on valuation and i get it, but you know what, they have a

berkshire hathaway, apple. apple's out tomorrow.so there's that as a driver, certainly. >> well, absolutely. listen, the market always seems to do better during earnings reporting season, and this earnings is no different. the lines of least resistance. the rally up again after the elections continue, liz. obviously, at some point we'll run out of steam. but so far, every correction no matter how steep or minor has been a buying opportunity. and until that trade changes, you have to stay long. liz: some people roll their eyes when president trump says look how great the market is, and he says it's very much about him. let me just tell you something. when you see that the stock market is up 19% since election day, how can it be much more. when people say, oh, it's not. i mean, look, president trump certainly handed over improving numbers. jobs numbers and economic numbers. it is not so much the personalities but it is the fact that the policies have changed. less restrictive. the heavy hand of government seems to be coming off. high-

of the biggest news.ss stories in the a arrival big for encore, routers, and it comes after berkshire hathaways transmission operator in a $9 billion cash deal. creditors the chargest of the energy future. it could concert its debt to -- debt to equity or use its rights to block the deal.ire hathaway according to a statement from largest life insurer, which adds an asset manager that $33 billion.man metlife will pay about $250 in for the deal which could close this quarter. and illinois bonds spiked today its firststate passed budget in two years and raised taxes. the house voted thursday to governor's vetoes of a budget package, ending the theest fiscal stalemate in u.s. in at least 70 years. illinois's securities were the actively traded muni bonds today. and an bank plans to sell half of a $20 billion practice of pimco.orming lonzo t loans to m the bank is moving to divest the portfolio. he says after the approved no more there are systemic issues for italian banks. business flashr update. >> coming up, what you need to know for tomorrow's trading week. is bloomberg. ♪ >> "what'd you miss?"

berkshire hathaway is buying oncor.businesses. >>> "the seattle times" reports that most started laying off thousands of employees. most of the cuts will come from the sales force. a majority of the jobs will come from outside the u.s. it's simplifying its team to focus on its cloud computing products. >>> and "the new york times" says a genetic mutation may have helped mankind survive the last ice age. it wasn't all good. it reduced average height by a senty meter and raised the risk of arthritis by 80%, but it did avo avoid issues. >>> wine is for everyone. antonio galloni is known for covering regions worldwide. he started a website for wine lovers. vin us has readers interest more than 90 countries. galloni's app selectable helps people learn about wine. it's offering a premium subscription today and for $5.99 a month it lets users access 5 thousand users' reviews. it has a delectable kiosk in 365 by whole foods stores. they'll expand to more whole foods stores later this year. antonio is with us. good in thanks for