. >>> time for the check of the corporate stories with bertha coombs bertha, good morning >> good morning, frank minneapolis fed reserve neel kashkari striking an optimistic tone for a soft landing for the economy. speaking to "face the nation," kashkari said the u.s. economy is making a ing surprisingly go progress >> we don't want to declare victory. we are staying on the progress if we need to raise rates further from here, we will do so we will let the data guide us. >> kashkari adds returning to pre-pandemic levels of inflation is absolutely achievable >>> walmart is increasing its stake in indian ecommerce company flipkart it centers around walmart buying out the company and it would value the indian company at $35 billion which is down from $38 billion two years ago. >>> meantime, the city of san francisco is taking issue with elon musk's decision to put a giant x atop the building that formerly had the twitter logo along its side since friday, neighbors have been complaining about the structure. some are calling it a hazard it is held in place by a series of sand bags of at the sa

. >>> time now for the headlines with our bertha coombs bertha >>> frank, another indictment of donald trump may be imminent three sources with direct knowledge of the situation telling nbc news that lawyers for former president trump are meeting with prosecutors in the special counsel's office today and have been told to expect an indictment against the former president. mr. trump announced last week he was the target of the grand jury investigation into the january 6th riot and efforts to overturn the 2020 election. >>> north korea leader kim jong-un met with the russian defense minister to discuss military cooperation kim took the minister on a tour of the newest weapons and briefed him on plans to expand the country's military capabilities the regime invited delegations from russia and china to attend the anniversary celebration of the arm mistice >>> a group of senators coming together to make sure americans have access to prescription drugs introducing legislation to boost drug stockpiles, increasing drug manufacturing here in the u.s. their measure is in response to a march repo

united health out with results bertha coombs has the numbers. >> frank, united health beating on thetom line $6.14 per share. up 13 % from a year ago. better than the estimate of 5.99 $92.9 billion in revenue up 16% above the $91 the$91 billion ese raising the estimate is $24 a share on the adjusted basis. they warpned a month ago at the goldman sachs conference that they see more activity more hip replacements and knee replacements and the medical costs would be at high end they were in line with what they warned for united health care side and insurance side. revenues beat as welcoming in at $17.2 billion. that is up 13% the costs were in line with the high end they were saying. their membership was a little bit stronger than the street was looking for. commercial was lighter it was in medicare and medicaid which was higher interesting to hear is medicaid was a lot higher than a lot of folks were looking at in bispit of the fact we saw the end of the public health emergency. on the services side optum. up 25% revenue the optum health side with the doctors and home care and surgical

bertha coombs is here this morning. good morning >> hey, good morning, frank.a is reportedly planning on taking new steps to try and keep threads users on the new app according to reuters, ceo mark zuckerberg tells employees that the company is heavily focused and boosting retention on the new social media platform after losing more than half of its users weeks after its launch zuckerberg said he considered the drop-off normal and expected retention to grow as meta adds more features to threads might need to change it up so it's more like twitter if they really want to compete meantime, american airlines pilots union says its struck a deal in principle with the carrier on details for a new labor contract the union says that agreement would bring american air in line with the gains for pilots at rival united airlines. union reps did not give specifics on revised agreement, but american airlines's ceo has said bringing the proposal online with united's would cost more than $9 billion pilots are expected to start voting on that deal sometime next month. >>> and ga

bertha coombs, thank you. >>> ahead on "power lunch," what is the c suite spot for corporate america? do shareholders want chief executives to get the job done and keep the ship sailing or innovators who push the envelope we'll discuss next ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ >>> seeing a bit of a split emerge in corporate america between innovators and operators running companies. on the one hand, you have boards turning to seasoned veterans chevron yesterday waiving its retirement age in order to keep mike wert on as ceo. one, we saw at disney. bob iger coming out of retirement in his 70s. but then there are those taking the opposite approach. elon musk throwing out the multimillion dollar twitter brand in order to create a so-called super app called x mark zuckerberg did something similar abandoning the facebook brand in exchange for meta which is better for shareholders here to discuss is cnbc contributor steve, president and ceo of the conference

. >>> we're going to move to get headlines with bertha coombs >>> in delaware court is back in sessions the plea deal in the hunter biden case appeared to be unraveling just about an hour ago. the judge has been questioning defense attorneys and prosecutors on the scope of the agreement including linking this plea agreement on tax charges to a deal on the gun charges hunter biden is facing. the original plea deal was to have the president's son plead guilty to a pair of misdemeanor tax charges while avoiding prosecution on a gun charge. >>> seven major automakers are working together to double the number of electric vehicle chargers in the u.s. and canada. the team includes general motors, bmw, and honda, who will share a multibillion dollar investment to build charging stations in urban areas and along travel corridors the move would rival tesla's network and could speed the adoption of electric vehicles. >>> the house oversight committee, meantime, is hearing testimony from three witnesses in a hearing on ufos today the three witnesses are military veterans who claim to have first-ha

let's get over to bertha coombs for more bertha >> that's right, jon united health actually seeing its best one-day gain in over two years. they beat on both the top and the bottom line. actually raised the their full-year outlook slightly on the bottom in spite of the fact they continue to see high medical costs. they actually warned about that one month ago today at a goldman sachs conference saying they're seeing pent-up demand for hip and knee procedures particularly within their medicare population if we drill down on the insurance side, it didn't really hurt results there united health revenues overall, up 13% though they did see high medical costs. it was within the range they anticipated at about 83% of premiums they also talked about strong demand for mental health a lot of utilization with that when it comes to people under the age of 65, which created some headwinds on the services side, on the optum side. optum was up better than expected and optum health is where they have their primary care doctors, outpatient surgical centers they were up 33% they also have contracts wit

. >>> bertha coombs has our cnbc update. >> hi. former president donald trump said this afternoon that his attorneys had a productive meeting with department of justice prosecutors today. though posted on social media platform trump claimed no notice given of an indictment however, three sources told nbc news earlier today that his lawyers were told to expect an indictment from the grand jury looking into the january 6th insurrection and other alleged attempts to overturn the 2020 election >>> the justice department launched a civil rights investigation into the memphis police department looking into whether the department has a pattern of excessive force and unlawful stops, searches and arrests. doj probe will focus whether the department discriminates gets black residents. the announcement comes months after the death of tyre nichols while in police custody, but the new department probe is separate from the a federal investigation into the nichols case. >>> probably comes as no surprise scientists already think july will become t

i'm bertha coombs.ere's your cnbc news update flash flood warnings and flood watches are in effect today in the northeast. meteorologist say thunderstorms will bring heavy rain to much of new england and northeastern new york comes after new york's hudson valley saw close to 10 inches of rain sunday. state officials say one woman died when she was swept away by flash flooding while trying to evacuate with her family >>> dutch prime minister - >> we in government working with our partners on the ground have to work with our communities to build up resiliency, to be prepared for the worst because the worst continues to happen. >> dutch prime minister ruutu says he will not run for a fifth term in office following the collapse of his government he handed in the resignation of his cabinet friday, bringing an end to the country's fragile four-party coalition government. >>> "the new york times" is disbanding its sports department hold on, the paper announced today that it will rely on the athletic for covera

over to bertha coombs for a breakdown of that quarter. >> yeah.arter they beat on both the top and the bottom line with earnings of $6.14 a share well ahead of expectations nearly $93 billion in revenues also well ahead as well. big focus on the earnings call was the medical cost trend recall that last month they warned that they were seeing much more pent up demand, people getting back to having knee and hip replacement surgeries, particularly in the medicare sector, so they did see that nonetheless, revenues on the insurance side, the unite the health care, uhc, up about 13% margins there were pretty good even as medical costs were in line on the high side. we did continue to see those same trends. they're also seeing, they say, across the board in commercial, medicaid and some in medicare, a lot of demand for behavioral health not just young people, they say, but people older those of us older in our 50s and even 60s are looking for that these days on the optimum side they saw overall growth of 25% when it came to revenues the ontum health they

keeping the politics out of it and the stock will go higher >>> let's get the headlines now with bertha coombs >> a u.s. marine was detained after a missing 14-year-old girl was found in the barics of a california base. the marine has not been charged but has been taken in for questioning. a phaou phupb trafficking task force is supporting the investigation and the teen was returned to her family the world meteorological association said last week was the hottest week ever. meantime, in the southern hemisphere, there was rare weather as well. johannesburg saw its first snowfall in more than a decade today, while parts of south africa regularly get snow during the winter months, but the last time it came down in johannesburg was 2012. that looks like a lot. >> yeah. >> thank you >>> coming up, a reversal of fortune, and what is behind the performance? the answer is next no big deal? go on... well, what if you partner with ibm and red hat, use a hybrid cloud solution to connect data across clouds, then analyze all that data with watson. okay, but this needs to meet our... security standards? yup

>> a lot of ks bertha, thank you, bertha coombs karen, what do you make of this thing? >> it's interesting. they do have a lot of debt it's probably good for coty to get some cash. i don't know how integral the business was to the coty story you hope they're not selling -- >> weakness out of weakness. >> right, or -- yes, the crown jewel or something like that, but i'm kind of impressed with kim kardashian, who is really building a, seems like a -- her own brand, obviously, is gigantic, but a private equity business that i think, i mean, a lot of people want to work there. it's interesting >> we'll refrain from making, you know, rounding bottom jokes, because why we would do that >> i've never been part of this. >> karen is -- look at her trade into ulta at the end of may. look at the bounce-back in ulta. this, i think, i think, might create a little tailwind for ulta, as well. >>> a couple industrial stocks hitting new 52-week highs. so, do they have more room to run? >>> ate layer, katie has a couple of names she thinks are ready to jump off their newly formed bases d

i'm bertha coombs from cnbc. we've got wall street set for a flat open as the markets wrap up the month today. the dow, s&p 500 are both up out 3r month of july. the nasdaq isnearly . meantime, the s&p a nasdaq a rack for their fifth straight month ofe gains, amid signst inflation is cng and expectations tha theederal reserill s stop hiking interest rates. in f this week, we get data on the manufacturing and services sectors, we'll get jobless claims, productivity and factory order data, and the big number on friday, the july jobs report. earnings season rolls on with one-third of companies in the s&p 500 reporting, highlighted by apple and amazon on thursday. speaking of apple, the company is promising to fix a bug in phones, ipads and the ipod touch which affects screen time restrictions for kids. the "wall street journal" reports the issue impacts down time, which lets parents remotely set hours when kids cannot use their devices. parents are finding that the scheduled times have reverted to older settings or

i'm bertha coombs with your news update president biden on his way right now to a key nato summit inpending the morning in the uk, he visited king charles after a meeting with prime minister rishi sunak. a spokesperson for sue knack says he and the president discussed the u.s. decision to send cluster bombs to ukraine, a move sunak made clear he disapproved of. >>> a union leader tells nbc news larry nassar was stabbed in a facility in florida. nasir is serving a sentence up to 175 years for sexually abusing athletes under his care. the source says nas er was stabbed eight times and has a collapsed lung. >>> the kremlin claims president vladimir putin met with wagner group leader yevgeny prigozhin and his top commanders just five days after their failed mutiny it's not clear why the kremlin decided to publicize the meeting, nearly two weeks after it allegedly happened. russian officials did not share details of what putin and prigozhin discussed. that is one mysterious case, guys sara, back to you. >> absolutely. thank you. >>> we're a little over an hour into trading markets awaitin

i'm bertha coombs with your cnbc news update.ter biden walked into a federal courthouse this morning where he is expected to pay guilty to two misdemeanor counts of failing to pay taxes. he allegedly owed $100,000 in taxes in 2017 and 2018 also faced a separate gun charge that will most likely be wiped from his record. >>> a london jury acquitted actor kevin spacey on nine sexual assault charges spacey cried as the judge read the verdict after two days of deliberations. four men accused him of sexual offenses between 2004 and 2013 at least five people including a firefighter were injured this morning when a burning crane collapsed more than 40 stories above ground in manhattan. new york officials say three of those people were rushed to the hospital the crane was on top of the building that is under construction and is just a few blocks from times square and the nasdaq crazy traffic issues now, leslie. >> oh my gosh. that is a harrowing video. so much construction over there. i guess -- >> near hudson yards. >> hopefully nobody i

. >> the other key mover based on earnings out this morning, up itsed health and bertha coombs joins t you, bertha? >> pretty much i haven't been using teleprompter here. we did see a beat top and bottom line. the earnings came in at $6.14 a share, that was much better than the expectation, up 13% year over year. nearly $93 billion on the topline revenue, up 16% year over year. also a handy beat on the estimates and as far as outlook, they're raising their outlook just slightly, mostly on the bottom, about 20 cents one analyst calling this sort of better than feared, especially when you look at what was happening in united health care, the insurance side you'll recall, a month ago, they warned and said, hey, we're seeing a lot more utilization when it comes to people wanting to get back to getting their knees replaced, their hips replaced, but a lot of that is outpatient surgery, so when you look at the united health care, they actually beat there on revenues, coming in at just over $70 billion. their medical costs were in line with what they had warned. that was going to be at the hi