julia boorstin from headquarters let's talk about the report. if there is no deal, do you still continue to own disney based on this quarter and based on what they are saying about cord cutting losses. >> if you're comfortable with valuation, i think you are you don't want disney to have to pay up too much for this deal. i think the deal is for fox for two reasons they want fox sports for espn, hulu, want to control now more than 50% of hulu because i think they want to compete with netflix that's my view i might be wrong the valuation. does disney deserve to trade at 45% premium to cbs yes, they deserve to trade at a premium given everything else they do but not that kind of premium. that's the problem i have with disney, it trades too rich. >> content we're talking about that when you're making your own content like the way netflix is making its content up 70% year-to-date, doing originals versus disney had to get back into netflix's game. i agree with guy they want hulu, the ability to compete with netflix it's the 100 pound gorilla even with

julia boorstin has more. >> i waited a long time for a shot like this. the movie industry has been waiting a long time for this summer. after a dismal 2017 box office that fell almost 14% over the prior summer, studios are hole "solo" and other big-budget franchises will per to record sales. the it traditionally makes up about 40% of annual box office revenue. di>> we're h to another 11 bill onyear in america, but the summer is all important, it still is, it's still the big show with all these big movies trying to make the marketilnd d big box office. >> none other bigger than disney. it accounts for more than a third of the north american box office so far thisyear. it's released just ree new films inclusion blackth per and "avengers." and disney's domince is expected to continue after this weekend debut of "solo" next month pixarag brings "the incredibles" for a sequel, and "antman" afterwards. the ceo of the national association of theater owners going so far as to say the current quarter will be, quote, gigantic. there's also a gigantic reliance on f

but as julia boorstin reports, the story is still a cliffhanger. >> reporter: the legal battle currently playing out at cbs is the latest act in a long running nvdramaving family in fighting, corpote restructuring and one of the media world's most powerful ceohu rsday a delaware judge ruled against the cbs board chaired by long-time ce ceo les moonves. sumner redstone and his daughter sherry are the owners. they want to drop the current ting stake of 80% down to 17%. the redstone family has a lon history in the entertainhint ory going back to the 1930s when national amusements was foundedy summe redstone's father as a theater operator. they acquired viaco for more than $3 billion in 1987 and a little over a decade later viacom merged with cbs. the media industry's biggest deal ever. lseven yearser national amusements a cbs split viacom into two different coanies. after a dozens tumultu years, sherry redstone is pushing to combine the two giants. moonves is objecting. what happens next? the legal battle is just beginning and if ons loses, it could result in cbs its veteran leader and boar

for "nightly business report," i'm julia boorstin in los angeles. >>> sprint t-mobile was not the only deal announced. marathon petroleum saying it was buying rivamdeavor. series rose by 13% while marathonp was fraction. then there's walmart, which is selling its u.k. supermarket business for about $10 billion. news of that deal sent shares of walmart up more than 1%. >>> and that's not all. marriott vacations worldwide i buyingimeshare operator ilg for $4.7 billion in cash and stock. shares of ilg rose 4% wle marriott vacations fell nearly 9%. >> and logistics company prologis is auiring dct industrial trust in a nearly $8.5 billion transaction. shares cliend 11 pores percent for dct. >>> inflation hit an important milestone last month. the federal reserve's preferred inflation bometer rose 2% from a year earlier. it is the first time in more than a year that the so-called price index for personal consumption expenditures or e achieved the central bank's target. economists say the latest target offers fresh evi long economic expansion is finally lifting consumer pricy. >>> not o has i

nt julia boorstin reports now, the ads poi to the size and scope of russian manipulation on that platform. >> reporter: houseli intnce committee democrats have published some 3500 plus ads,ts even and pieces of content thathe russian internet research agency ran on facebook anden instagram betwe 2015 and 2017 in anffor to electis. some oth ent are legitimate events such as rallies and protests that were organized by americans but promoted by the russians. >> this is a popblem with an platform with 2.1 billion people on the system and 6 million advertisers. it's really hard to police and, again, i think that, you know, this just shows you the complexity of what they've created. >> reporter: the ads, which were seen by over 33 million facebook users, target a range of divisive issues ranging from anti-hillary clinton issues to the debate around immigration and anti-gun control ads. these k says they gave ads to congress so they could better understand the extent of russian interference in the last u.s. presidentia election. in the run up to the election facebook was more focused on typical

let's bring in julia boorstin. she's got more on this for us. julia, some of the headlines from randall stephenson right now? >> it was interesting wias you mentioned how he explained the deal at the time he explained the deal he why it should be approved right now we're awaiting a ruling by the judge in that lawsuit between the doj and at&t in efforts to buy time warner. app lot of it came down to the growing power of the tech stocks he mentioned just how much value the tech stocks, the fang stocks have added since the deal was first announced to just give a sense of how big those giants are. and he said this kind of consolidation was really the wave of the future and he talked about the kind of value they're going to be able to create by combining distribution and the data they get from distribution with that premium content. interesting to see how he paired the defense of the deal along with the justification for the value of the deal. >> julia, great stuff. thanks much for that right there. julia boorstin, of course, has been giving us great

quintanilla with morgan bren and jon fortt cnbc's parent company preparing for a takeover julia boorstins with more. >> this news could point to a bidding war brewing. sources tell cnbc comcast is preparing to make an all-cash offer of $60 billion for fox's entertainment assets that would top disney's $52 billion all-stock deal, pending approval to acquire fox's entertainment assets comcast talked with investment banks. in the very early stages and hinge on whether the government approves at&t's acquisition of time warner, which would indicate the anti-trust environment. if fox goes with comcast offer, disney would get a $1.5 billion breakup fee. comcast is bidding for all of sky, putting the total close to $100 billion on this news we see all the company's shares moving. fox shares are higher by nearly 1%, disney shares down by more than 1% and comcast shares off by more than 4%, ahead of disney earnings, after the bell this afternoon. disney earnings projected to grow 13% while revenues are expected to grow nearly 6% disney results should be bolstered by its studio and "black panther"

thank you very much, julia boorstin on disney another earnings mover, shares of go daddy in the green a second quarter earnings beat due to new customer additions. joining us this morning scott wagner the ceo of go daddy we were talking with andy jassy about you. good morning >> good morning. thanks for having me >> this is really getting interesting now. one year performance on the stock is closing in on 76% you got revenue up 29% we mentioned the partnership with aws what is driving all this >> no one particular thing i think it's the promise of godaddy and what we do, getting ideas, growing starting and thriving around the world. our international expansion and the expansion of our product portfolio, extending a domain name into things like websites, social media, security services, it's a combination of global growth and our product portfolio that's driving our top line and ultimately driving the stock price. >> how much is the health of small and medium business tied to your trajectory right now, the economy is good for a lot of different kinds of companies but seems like there a

guys >> contessa, thank you stay with us we're going to bring in julia boorstin from l.a. with more this has been an incredibly swift fall for one of the biggest moguls in hollywood. >> reporter: it's been really remarkable to see what has happened not just for harvey weinstein, about you for all of hollywood since october, which is when the first expose was written by the "new york times" detailing they allegations since then over 80 women have made accusations against harvey weinstein. so over the past eight months we have seen so many different stories come out in these movements, but i think it's worth noting and remembering who harvey weinstein was before all these allegations started to take him down. the weinstein company, though it filed po bankruptcy and assets later sold, had grossed 2.4 billion across 133 movies. remember weinstein himself was known as an oscar maker. this was a guy who produced movies that won 81 oscars in total. there were a total of 341 nominations, so the fact that heck should have such a huge impact on hollywood is perhaps one of the reason

days of testimony in front of congress next month phil, walter, stay tuned with us for that julia boorstinerg takes the stage in front of the thousands of developers here and many more watching around the world, will have to explain what facebook's newly restricted access will mean to them limits the amount of information developers will receive about users and cut off access when people stop using their app. they need facebook's approval to access more detailed information. the way facebook did it was disappointing, as developers, we had very little warning and we have no idea if access will ever be restored. today continues an apology store, rolling out television ads saying facebook will do more to protect its users little suspect timing. just yesterday what's app co-founder and ceo announcing he's leaving facebook, reportedly after clashing over strategy and use of data today, we expect zucker burg to be followed by other top executives, including heads of messaging, vp of hardware, andrew bosworth. he says the company will make its biggest ar/vr news today we expect to hear more about

. >>> cnbc will unveil our list of fast-growing startups to watch julia boorstin joins us with a look last year's list are doing julia? >> our disrupter 50 list over the past five years and of the five from last year's list, four are in the green here is a look at the performance. blue apron is the only one that's had a rough go. its stock plummeting 75% since its june ipo meal kit delivery company is hoping that teaming up with costco, airbnb and cookbook model chrissy tiegen will drive growth the database software company beating earnings expectations and adding more than 800 new customers in the first quarter alone. >> this market is literally one of the biggest markets. >> dropbox raising over $750 million in march, biggest tech ipo in over a year. >> investors are excited about our model. we have scale from our consumer roots. >> file sharing and storage company giving up some gains after its first earnings report. >> spotify has opened. >> since spotify's unconventional direct listing in april, its stock is up 20% way down after its earnings report and its ability to paying subs

. >>> for the rest of the look at disrupter 50, let's get to julia boorstin. >> good morning to you,the companies on the list more valuable together, worth nearly $360 billion. after spacex, number two on the list is uber with a valuation of nearly $70 billion ride-sharing giant moving up from 19 on last year's list under new ceo. pushing transportation and bikes with the bike company jump number three, airbnb with the 4.5 million listings, far more than just house rentals. offering a range of experiences as well as business travel and number four, another ride-sharing company with more than 25 million rides a day, twice as many as uber number five is lyft, claiming a third of the u.s. ride share market and number six is partnered with uber across southeast asia pretty amazing for the top six in the ride-sharing space. number seven is 23 and me, the genetics company, testing for certain cancers. number eight, its revenue more than doubling, 34,000 new students took its courses and partnered with even more companies. rent the runway has not only expanded its dress rentals with over $1

julia boorstin, cnbc business news los angeles. >>> bp shares are slumping after the company announceduld cut 13,000 jobs among the managerial and back office staff. the company will maintain its dividend and plug a sizable hole in its pension obligations they reported a 3% drop in fourth quarter revenue to just below 6 billion pounds senior research analyst at bernstein broke down the results for us >> it's remarkable this business has gone from being a darling of the investment community in the 2015 time frame, a positive outlier in europe, a growth story, a belief that you could perpetuate that with an investment in content, a management team that could do nothing wrong, to now -- 30,000 correction in the labor force, which implies this has gone from a growth story to a restructuring story. >>> next shares are jumping after raising their profit forecast sales rose 6% with online sales rising 8% during the same period the fashion retailer expects a 5% boost to earnings per share thanks to its buyback program. >>> shares in walmart slid over 3% after the u.s. retail giant announced a

redstone, national amusements, it's unlikely at this point you see the shares down 0.5% >> julia boorstin, thank you for that >> david edleman, i don't think you're going anywhere soon >> yeah, we're doing more reporting on this. is tom still there tom, still on the phone or did you leave? >> i'm still here. >> i understand the idea of fiduciary duty and you say it's unlikely they bring these two companies together i don't know, she could get rid of the directors, replace them, put it up for vote for minute majority/minority. i will say that sherry redstone is committed to putting these two companies together whether it's delayed, i don't think they can stop her. >> well, she can do that, the weight, to do this, is not in the interest of shareholders based on the independent ones relied on here she could create new directors and they could put in a new committee. and that committee could say, oh, yes, this is in the best interest of shareholders one of the keys here, independents are able to assess this without coercion. and it would be hard to look at this to think that, geez, under that

what exactly happened here you'll gentleman boorstin has more from los angeles. julia?rter: david i just changed my password. i recommend that you do as well. anyone who opens twitter will see this alert that the company identified a bug that stored passwords in readable texts rather than having them disguised or encrypted quote, we have fixed the bug and our investigation shows no indication of breach or misuse by anyone but out of abundance of caution, asking people to change their twitter passwords they're also recommending that they change password on all services where they used that password and that users activate two activation data security lapses, twitter agreeing among other things to audits every other year for a decade later this month the european union launches its new privacy law, which will fine violators of that law. twitter shares dipped as much as 2.7% this morning before bouncing back. you see them back in the green ceo drew criticism for tweeting, quote, we didn't have to, in terms of alerting users, but believe it's the right thing to do he later

for more let's get to julia boorstin out in los angeles.elissa, netflix has snagged some high-profile content creators, this deal from the obamas is unlike anything the streaming giant has done before. netflix shares moving higher after announcing the obamas have signed a multi-year agreement to produce films and series through netflix through their production company called higher ground productions, scripted series, unscripted, docuseries, documentaries and features president obama saying, quote, we hope to cultivate and curate talented inspiring voice to create better understanding between people's and hem them share their sfoers with the entire world. content chief saying barack and michelle obama are among the world's most respected and highly recognized public fires and uniquely positioned to change the world for the better a number of high-profile high-cost content deals including spending $300 million to secure a five-year deal with tv producer ryan murphy. that deal announced in february after last year netflix announced deals with

julia boorstin has been listening on that call from los angeles.t did they say about the disney deal? >> lachlan and james murdock faced a range of questions about comcast reported interest in disney's outbidding the stocks. here's what lackman murdock said. >> we won't engage in speculation. we are committed to our agreement with disney and are working through the conditions to bring it to a closing. in addition, our directors, though, of course, are aware of their duties on behalf of all shareds. >> when asked about comcast taking on fox's bid for the rest of the sky, james murdock indicated fox's lengthy product under way as a advantage. >> we expect to receive uk regulatory approval in a month or two. comcast has begun it's regulatory process and we think it's reasonable for comcast to undergo a robust regulatory review which could take months it would be appropriate given the important role of sky and sky news play in the media market. >> they also said that planning for new fox the parts ta aren't selling to disney is under way and they're ma

let's get to julia boorstin with the details. julia?ssa, tomorrow afternoon disney is projected to report growth in the fiscal second quarter. analysts expected for it to grow 13% and revenue to grow 6% disney's studio should be bolstered by the record-breaking success of disney's "black panther" and has grossed $1.4 billion. now that will impact the results tomorrow we are sure to hear from coo bobo iger infinity war topped $1 billion in global ticket sales, faster than any other movie in just 11 days all the more impressive because it doesn't open in china until friday. >>> so far this year, disney has sold 32% of all tickets in north america and disney is poised to continue dominating the box office with "solo" a "star wars" film pre-sales tickets are twice as strong as those for "black panther. analysts will hone in on disney's largest network, media network. we can expect probing about how disney's direct to consumer espn app has done in the first few weeks and of course disney's pending fox acquisition will be front and center, es

on one of these network channels based on how dramatic it has been >>> we want to bring in julia boorstinhis means for the fate of both of these companies moving forward t this means on the fate of both of these companies moving forward on this news >> morgan, you make a good point, as stephen colbert yet and cbs has good evening dramas. and good tv too. i don't think this is the end of the story as david mentioned certainly likely with the board members. i think this is one of those issues that plays out in court over the next many months. i don't think is going to end right here i think the real crux is what's going on with cbs. you see cbs shares down 6.5% yesterday and today. we see a number of analysts coming out trying to guess what's going to happen with the legal battle and the analysts thought that cbs was able to push away national amusements and able to avoid merging with viacom. and the consensus is that a merger with viacom would drag down cbs and would be bad for cbs shareholders so, i think it comes down to that question of fiduciary duty and whether the board members are g

thank you, julia boorstin. >> let's take a look at micron right now up 4%.nitiating coverage there with an outperform the analyst who made that call, joins us now from one market good morning >> good morning. >> so what's the story in memory right now in nan flash in general. there are always concerns about what's going to happen with capacity and the effect on pricing. things look pretty good? >> yeah. i mean, you know, you're right, the fear is always it's a boom/bust cycle. i'm at the peak of the cycle and going to flip over at some point soon and that's the fear on this our take is, if you look at the fact and the structural changes in this industry what i don't think cycles are done, we think they will be muted as you go forward. if you look at things like only three players left in the market versus 15 a decade ago, are the technology advances have become so difficult that cap x doesn't drive the same output anymore, the price may not be as severe as in micron's case think about mid-cycle around $8, on a 10 multiple the stock should work comfortably in

i'm julia boorstin with an update on the 21st century fox earnings call which just wrapped up seconds been peppered with questions about reports of comcast offering a higher bid for fox than disney's offer. they're saying they're not going to comment in speculation but they're committed to their agreement with disney but that the directors are of course aware of the fiduciary duty to all fox shareholders. back over to you. >> thank you very much. >>> 21st century fox now down like less than 1%. we had bookings, formally known as priceline. bookings down 6%. roku up 4%. >> expectations too high. the whole group is under suspicion. >> we have a lot more to say but we're out of time. "fast money" starts right now. >>> "fast money" starts right now. live from the nasdaq overlooking new york city time squares. i'm melissa lee. our traders on the desk are pete najarian, tim seymour. energy stocks are on fire soaring in the past month. the biggest names rallying high. the traders will tell you how to catch this rally. >>> plus 21st century fox report earnings. and if comcast could derail it.

julia boorstin spoke to disney ceo bob iger about the company's quarter. >> reporter: the bottom line from disney's earnings, t media giant out performed expectations pretty much across the board with the biggest up side surprise, disney theme parks and the movie studio where blockbuster films and new attractions killed ticket sales and attendance. perhaps the most unexpected thing about disney's earnings, the fact that it performed better than expected at the media network division which includes espn. it's been under pressure with cord cutting causing subscriber losses. >> we believe you're going to continue to see real growth int di platforms and continued erosion on the traditional side. i think ultimatel the new business will eclipse the older business. i think it will probably happens sooner than people initially predicted and that's why we're going into this in big way. >> ceo bob iger wouldn't reveal how many people have signed up for direct to cssumer busin espn plus but he said the app is performing quite well and that ey're continuing to find ways to make the user experienc

julia boorstin dan? >> it's not getting crushed.he stock closed up almost 30% from its reference price a month ago when it was listed public. it is down 5 or $6 or $7 that's what it was up today. and i think you really want to differentiate between whiffing on their first publicly traded quarter as remember facebook was down 11% after their first one twitter was down 24% snap was down 21%. this is a company that chose in a alternative path to being public you should expect that there their communication and the way they manage this process going forward is going to be a little different. >> but let me just push back on that a little bit. because of the process they used to go public, they probably came out at a lower price than where they do co. have if they had done a more traditional road show and gotten all hyped up. >> the stock has acted very well let's see how it acts tomorrow i'd be shocked to see it down more than 10% or something like that just based on the numbers they gave and the transparency that we have and the analyst

julie boorstin is here to tell us what this could mean for disney hi, julia. >> well, melissa, lucas film's solo was up to a record start, bringing in $14 million from thursday evening previews in the u.s. internationally it's brought in $11.5 million. the studio says the film is on track for a four-day domestic gross of between $105 million and $150 million that's far lower than initial projections. at the upper end of that range, it would put "solo" in fifth place for memorial day weekend that domestic debut would also be smaller than the opening weekends of the other three "star wars" films that disney has released so far. this one dampened by the fact that it's the first one that disney has ever released in the summer rather than in december, which is far less crowded. now, "solo" is going up against fox's "deadpool" based on a marvel character a clash of giants unlikely to happen again, assuming that disney's pending acquisition of fox goes through plus there's holdover from another disney movie, marvel's record-breaking "avengers: infinity war." it's been just five months since

julia boorstin has the details. >> reporter: it was a perfect storm of timing, competition and perhaps "star wars" fatigue. solo bringing in $103 million at the domestic box office over the four-day holiday weekend. under already lowered expectations. and internationally the film brought in just $65 million. "solo's" global take just half of the move vees. perhaps the biggest factor it's been five months since the last "star wars" film whereas disney's last three releases were three years apart. it's the first in the crowded summer season. >> with "the last jedi" in the minds of the movie goers and so much competition with "dead pool 2" and "avengers" this made it difficult for "solo" to break out and exceed expectations. >> they were projecting that "solo" will be close to break even versus the $400 million we had assumed. about a 2% headwind to disney's estimates this year. now the negative impact to disney all hinges on how the movie performs in the coming weeks when it's up against less competition but faces less than stellar audience reviews. >> i think what disney is going to do

. >> let's get straight to julia boorstin who's live there, julia, could be facing a hostile group this time around >> reporter: i think it is going to be a tough one for mark zuckerberg there are about 5,000 developers and a lot of them are concerned of the fact that facebook over the past month have made a number of changes really to hold back the amount of data that they share with developers, we are seeing him walking on the stage now. a lot of people have a lot of questions they want answers about what this means about their future let's take a listen. >> i cannot believe it is only four months in >> before we get started, i want to take a moment how much it means for us that you are all here t here today it is not easy being a developer the past couple of months. what i can assure you that we are hard at work and making sure that people don't misuse this platform we are opening avenues so you can all keep moving forward. now, i am looking out i see a lot of people we worked with for a long time and a lot of people traveled to be he travel to be here around the world. i want to tak

julia boorstin is in los angeles to tell us what investors are watching for leading up to the event.> reporter: over the past couple of months since disney's last earnings announcement, they're down about 3.5% but analysts are bullish going into next week when the company reports earnings. now 15 analyst haves a buy rating, ten have a hold and there's no sell ratings on the stocks. morgan stanley reiterating its over rating on disney saying his reorganization plus bending deal for fox says -- generating $6.5 billion in revenue in fiscal 2020. in addition to the status of th pending fox deal, any update on the success of the recent launch of espn's direct to consumer service and its over-the-top strategy, plus we can expect some questions on updates on cord cutting's impact on disney's biggest business plus any insight into summer bookings for the theme parks, which is disney's second biggest division by revenue. ceo bob iger has some records in this current quarter to celebrate. just today vendors topped $900 million worldwide after just nine days of release putting the film on track

bob iger sat down with julia boorstin to share his confidence in disney's ability to move forward with its $52 billion deal for fox assets. >> i'm not going to speculate at all about either what they're doing or why they're doing it. i can only say and reiterate that we made a deal in december that received unanimous approval, which is important by the 21st century fox board we're in the process of filing what we need to file to gain both regulatory approval and shareholder approval we're excited about that acquisition and remain confident that it will go forward. >>> joining us now for more on disney's bid for fox and media trends, michael wolf is here good morning >> great to be here. >> we've been trying to parse through some of the comments that he made on that interview trying to understand what he really meant at one point he said he may not do anything if comcast were to make a bid. >> he made several suggestions around the idea that murdoch likes disney stock so i was curious, what you thought he was trying to telegraph. >> part of it is -- and this is well known, rupert murdoc

i'm carl quintanilla with julia boorstin and jon fortt here in rancho palos verdes.s that warren buffett had expressed interest in investing in the giant i talked to ceo of uber yesterday, who talked about his talks with buffett earlier in the year and even more. >> it's always possible that talks resume i think there has to be a match. we are a company that has, as you know, an enormous growth trajectory it comes with a certain amount of risk. i don't think that we fit in with the typical warren buffett investment maybe we can be a portfolio diversification for him. you never know what happen and i would always welcome dialogue with him. >> uber's cash position is good. >> yes. >> new term loans coming online, investment from the softbank consortium you're not hungry for liquidity at this point? >> not at this moment. we're in a good position in terms of the company's profile margins continue to get better we have a very strong balance sheet and i do think that we are on track and have a reasonable buffer as well i think we're in a pretty good spot that said, we wou

nearly 1,000 companies applied to be considered, and as the name suggests, only 50 made it julia boorstin with the ceo. hi, julia. >> reporter: thanks, will iter, i'm joined by anthony noto, ceo of sofi. former ceo of twitter, so you've been at nofi for three months. what's the biggest surprise of running this financial services company. >> >> i think the biggest pleasant surprise is how dedicated the company is, and the people are to building a great culture. there is an opportunity to really focus on car values the first months we've been able to solidify our mission and realize their ambitions. and it's having enough money to do what you want it's not about being rich, it's about having children, buying a house and retiring early in addition to our values, it will set the foundation for the future culture of the company. so that's rewarding around those elements. >> you called yourself a modern finance company. but do you want your members to be able to invest in bitcoin >> we do one of our priorities is to strengthen our core renting problems and make those available through a cycle.

julia boorstin deidra bosa. eric chemi bertha coombs. and aditi roy will have fitbit results.those earnings start to cross. joining me now is senior markets commentator michael santoli alongside sarat sethi. welcome, everybody leading the dow today was apple with about a 5% gain after earnings yesterday i'd call it 4.5% verizon down 2%. aptive was the big gainer. and unum group lagged. we talked about earnings season how there was so much anticipation of strong profits and the market had kind of started to find its footing. and then now lately, even today it was really just the last hour that things fell apart >> taking aggregate good numbers for granted. it's not an encouraging pattern. you have this heaviness later in the day. but i also think it's mostly sideways it says to me it's more of a confused churning market more than one that is particularly fearful you know, even with the selloff in the afternoon, it wasn't like there was an urgency to the selling. it was very kind of measured i don't say that to say it doesn't mean anything, but it doesn't change the pattern very

julia boorstin is in los angeles with the details >> morgan, an experimental satellite that can helpf and connect almost 4 billion people around the world without internet access. that may be the long-term goal of this filing with the federal communications commission last week it explains the plans for a multimillion dollar satellite called athena from point view tech, which appears to be a subsidiary of facebook this according to a trade publication which followed a paper trail connecting point view to facebook it says it's developing technology to deliver data ten times faster than spacex's star link internet satellites facebook wouldn't comment on whether point view is a subsidiary, but if it is, this would not be the first time the social media giant has worked to expand internet access through satellites they worked with a satellite company, but that satellite was on a spacex rocket that exploded at launch two years ago. facebook has also been working to beam internet connectivity down from solar powered drones that will fly for up to three months at a time, and facebook's work

sliding after reporting earning for the first time as a public company jul julia bour jul julia boorstins in l.a >> it faces questions about how and how soon it can get to profitability. and spotify met its projections on user growth and revenue revenue grew 26% over last year's quarter, but declined 1% from the prior quarter the company's guidance for the second quarter revenue as well as second quarter user growth is a little lighter than analyst expectations jprgan pointing out that spite second quarter margin guide aunts beating consensus, the company kept its full year growth guidance unchanged. and reiterated his overweight and price target saying the street expected more up side rbc says the song remains the same and maintained outperform rating, but trimmed his price target to $210 due you to foreign exchange pressures on the call last night, ceo says he is focused on the fremium plan and is not concerned about apple music. >> we don't see any kind of meaningful impact of competition. in fact when we look at this, we don't really think that this is a winner takes all market. in f

julia boorstin joins us to get us up to speed julia?: from 80% to less than 20% unlikely to take effect delaware judge let stand a last-minute rule change from julie redstone that any change be approved by 90% of the board. here is a look at the history of the companies. battle for control of cbs is the latest act in a long-running drama involving family infighting, corporate restructuring and one of the most powerful ceos it began as a theater operator in the 1930s they acquired viacom in 1987 and a decade later merged it with cbs. at the time it was the media industry's biggest deal ever then in 2006 national mutuals split cbs and viacom into two separate companies after a tumultuous dozen years of family fighting and corporate court battles and under the backdrop of a shifting media landscape, sherry redstone sits in the powerful position of her family's media empire. she pushed the boards of viacom and cbs towards reuniting. that opposition led to the extraordinary attempt to limit the redstone family's voting power. despite thursda

court by the end of july >> contessa brewer, thank you very much outside the courthouse now to julia boorstin >> reporter: well, sara, a lot of talk here in hollywood about just how dramatic the fall has been for the producer who once dominated the independent film world and the oscars it has reverberated throughout hollywood. miramax and the weinstein company produced and distributed films that were nominated for 341 oscars and won 81 oscars weinstein himself was nominated twice and won for best picture the weinstein company grossed $2.4 billion in the u.s. across 133 movies over about a dozen years. but his power faded as studio franchise films eclipsed the independent studios and a number of weinstein films fell flat now, following more than 80 women accusing weinstein of misconduct, dozens of hi high-powered hollywood men have been accused of a range of inappropriate behavior women in hollywood are using this moment to try to drive lasting change >> stay there, julia want to go to robert frank how extensive were harvey weinstein's personal holdings and how much of that wealth will he be a

julia boorstin in san francisco with the details hi, julia. >> melissa, i'm here at 23andme, which isnine companies on the disrupter 50 list this year with female ceo up from three female ceos last year this list of ceos this year includes lanza, drawbridge and others ride sharing giant grab. 26% of our list that has female founders is far from closing gender gap, it is far better than the industry average. women founded companies comprise 4.h 4% of deals they generally write smaller checks for female founders, an average of $5 million compared to average of $12 million for men. in this era of times up three companies on the list, uber, thinx and sofi all replacing ceo. along with female hygiene thinx, subscription ward rowing ellevest looking to reinvent financial services for women specifically those entrepreneurs are looking to serve the needs of half of the population which they say is underserved. can you find the entire disruptor 50 list and much more about ceos and entrepreneurs on cnbc.com/disruptor. >> thank you, julia. as you heard female focus investing company ellevest on

i'm carol with julia boorstin, jon fortt, here at the code conference in rancho palhasver des.us this morning, recode's executive editor cara swisher. >> good morning. >> congratulations on a great start to the conference. >> thanks. worked out well. >> last night some of the highlights, 21st century fox ceo james murdoch speaking at code addressing the comcast and disney bids for the company's assets and answering questions on the competition including the threat of streaming services like netflix which recently became the world's most valuable entertainment company by market cap. take a listenp >> look at the kind of investment that netflix is required to make in anticipation of potentially their not being able to acquire rights from outside programmers they're doing a huge amount of original production those are enormous bets and when you add on top of that live sports and things of that nature, there are huge costs and i think they've done a great job in many ways, delivering the user experience for customers that have raised the bar for competitors. >> really interesting l

what the president's thinking here is what specific statements he wants an apology for >> to joolia boorstin at the code conference where a lot of people are talking about roseanne >> melissa, we reached out to abc and disney about the president's tweet referencing abc. we have not gotten a response back yet 21st century fox ceo james murdoch saying that disney and abc did the right thing by immediately cancelling roseanne. >> i didn't follow the roseanne thing closely. clearly she cross adeline and they decided to be done with it. it is not just about keeping an audience going it's about what is the right thing to do, what's the right thing for your expect, your brand, for your customers and also your colleagues inside the business do you believe in things and do you not. >> and he noted fox fired billow riley following allegations of sexual harass men. murdoch also talked about the risk whenever anyone tweets. and that they do include guidelines for tweets in contracts. >> one more thing we should point out during roseanne's tweet storm. she made comments toward am beian who responded peop

let's get to julia boorstin with that. >> a federal judge saying that president trump cannot block twitter users from viewing his feeds, saying that president trump blocking users from viewing what he tweets on twitter is unconstitutional and would violate the first amendment. this comes after a federal judge encouraged a settlement suggesting that trump mute rather than block some of his followers on twitter in order to resolve the lawsuit. the ruling now is that blocking those followers is not aloud back over to you. >> super interesting thanks julia so the president cannot block someone else because it violates their first amendment rights. >> of free speech. >> feels almost the reverse to me two, you wonder, does this closer to twitter being labeled a media company? >> you completely. >> and therefore ends up being regulated himself because of that. >> he did it himself presidential proclamations and statements come in the form of tweets and therefore should not be restricted i don't think to people. >> or is the comparable how users use twitter as reg fd. they are being allowed to rel

julia boorstin joins us with a closer look at the class of 2017 julia? from last year's list have gone public as of now but that number will be six as of thursday when green sky is set to start trading. the atlanta-based on-line lender looking to raise $750 million in an ipo on the nasdaq of the five new stocks from last year's list, four of them are in the green so far let's take a look at their performance. >> blue apron is the only one that's had a rough go. its stock plummeting 75% since its june ipo the meal kit delivery company hoping teaming up with costco, airbnb and cookbook author model chrissy teigen will drive growth mongo db, its stock soaring 90% since its october ipo. the data baste software company adding this quarter alone. >> one of the biggest markets in enterprise software. >> dropbox raising $750 million in march the biggest tech ipo in a year. >> our investors are excited about our model and we have scale. >> the file sharing and storage company giving up gains after it first earnings report. >> spotify has opened. >> since spotify'

julia boorstin sat down with ceo bob iger and joins us with more from that interview and overall on disneylia? >> thanks, david that's right disney beating expectations thanks to the strength of the parks and movie studio ceo bob iger explaining investments in new attractions and big brands such as marvel are paying off >> whatyou're seeing at the parks is that our continued investment in that business, in many respects on the backs of some great intellectual property is driving growth in the business and we're seeing that globally, which is great people want to come to interact with the characters that they've come to know and love on the big screen and on the small screen that's helped a lot. we've seen no negative impact from the pricing increases >> i pressed iger on comcast reported interest in bidding $60 billion in cash for fox's entertainment assets to top disney's $52 billion all-stock offer for fox. he wouldn't reveal what he and rupeert murdoch have discussed or the potential for a bidding war with comcast >> i'm not going to speculate about what they're doing or why they're doi

those retail numbers we'll tell you about breaking news on cbs just crossing let's get to julia boorstinin for cbs ceo les moonves. a delaware judge has granted a temporary restraining order against national amusements until there's a dispute with cbs corp. on tuesday it comes as les moonves tries to rest voting concern away from sherry this looks like a win for les moonves. of course this is going to be an ongoing battle cbs shares appear to be unchanged. back over to you >> julia, thank you. i mean, so they got the restraining order which is a big deal but also perhaps unavoidable as they sort out the legal issues here >> it's unavoidable. that the judge would say slow down, let's figure out exactly what's happening here, how it's going to proceed 2in court >> this all has to happen kind of quickly it's an extraordinary example. >> try to get to a board meeting to make determinations. >> exactly and it's to basically dilute its own owner by saying you might own 80% of us, but if we issue stock, we're going to take you down to 17%. don't you think there are some broadly speaking for wha

those are big hits julia boorstin now with more >> fox deals will be in focused on the hill of reports of comcast is at a higher bid analysts are projecting disney's ern earnings are grow 6% we are likely to see the theme park to benefit his ongoing investment in the park and rates both on the rise for the network devision, it will face scrutiny as it always does investors will press for updates on how espn new app. we'll have to see what bob iger says about the report that comcast is preparing of $60 billion for fox's entertainment assets i will ask bob iger coming up after earnings cross at 4:00 p.m. eastern. >> michelle. >> thank you julia let's talk more of the brewing battle that you mentioned between come bacast and disney. lets bring in our own david faber. >> hey, how do you like the stock prices for you today >> you know shareholders are speaking with one voice, the management team is speaking with another, if you know anything about brianere roberts, he's be aggressive man we have been saying this as long as steel have been out there day one. i have been reporting on strong p

guys, back over to you >> julia, thank you, julia boorstin tesla gaining ground after the earnings call sent the stock lower, but now there's another challenge in the form of a startup auto company called, wait a minute, nicola. phil lebeau with more. >> let me show you what they are in the news for today. they have landed an order from annhuizer bush, hydrogen fuel trucks powering the electric motor. these have been up to 800 ordered by busch, targeting delivery in 2021 you might be saying wait a second, isn't tesla leading the electric semimarket? yes, they announced and announced last year plans to build a tesla electric semi with production starting in 2019, just around the corner at the same time, the company, this week, announced it was being sued by nikola over the design of its semi, being too similar to the nikola semi this is elon musk talking about the strange lawsuit. >> a laughable lawsuit recently from some company called nikola, ironically, like nikola is suing tesla, that's hilarious. fate loves irony they said it's the way the trucks look, which is absurd nobody's buyin

shares fell more than 4% julia boorstin is monitoring this for us. julia?t has, quote, no intention of forcing a merger that is not supported by both cbs and viacom. the meeting starts in a few minutes at cbs headquarters. cbs saying despite the judge's refusal to grant a temporary restraining order, it will vote on a proposal to dilute the voting stake from 80 to 17%. even if nunez gets a majority of the votes it will be contested as redstone made a new requirement of 13 out of 14 votes to conclude the plan >> we'll watch that and these after hour headlines shares of amtrus have reported that carl icahn took a 9% share. applied materials also down nearly 5% on weak guidance michael? >> ten seconds i don't want to give my 2 cents. >> we'll see plenty of you tomorrow thank you, everybody, for tuning in to the "closing bell. "fast money" will pick it up for us right now. >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square i'm melissa lee. tonight on "fast," bitcoin week rolls on friend of "fast money" a

julia boorstin joins us with youtube's global head of music and music legend leor cohen. >> thank younst spotify, apple music. what makes youtube music so different? >> well, i think that youtube music has such an incredible opportunity. first of all, i don't think it is a winner win all category youtube music has the largest consumption of music around the world. and our partners, the labels, the artists, and our customers, they want two engines. ad supported, and they want subscription and that's the huge opportunity for us it is a very nascent business. there is a huge opportunity. this is a new music subscription is relatively new. >> but people already know they can go to youtube to watch videos, listen to music, i do it myself how many people do you think will be able to convert to paying subscribers >> let me just put it to you this way i think there is such a great opportunity. we have the world's largest consumption of music on our platform and the customer should have the choice to decide whether they want to pay with their eyeballs or whether they want to subscribe. and we

let's bring in julia boorstin from l.a start with spotify, julia. >> well, tyler, this has been a reallyersial issue, and it all started yesterday when spotify changed its policy about hateful content and the creators of hateful content and started to weed out some artists that they did not approve of their sort of moral compass, their way of being the world and they pulled songs from r. kelly from all those spotify play lists so now other artists have started to weigh in. 50 cent tweeting, spotify is wrong. they're not even convicted of anything so this, of course, comes as critics who accused r. kelly of sexual misconduct are staging protests, they're threatening to stage a protest at an upcoming show if it isn't cancelled and a lot of people are saying that this is the fooirs time that time's up and me too are really hitting the music industry and it's interesting to see how spotify is responding by taking more of an editorial stance. >> is it partly lyrics and partly behavior that's at play here >> well, right now, the change that was announced yesterday, and what we're seeing play o

are the odds that the ruling will actually boost sports ratings for that angle we'll go to julia boorstinetting that betting will increase sports rating. the ceo of samba tv which analyzes tv viewing data across platforms telling us that he believes gambling will drive more viewership. he goes on to say much like fantasy football expanded nfl viewership and interest, legalized sports betting will drive tv audiences back to live game broadcasts for all sports just last year, nathan predicting that if sports betting were legal, roughly 10% of nonbetters would bet on sports but a lobbyist for the nba and mlb argued it's not guaranteed that betting would boost ratings and that the league should earn a fee on gambling revenues it's unclear how media giants who have spent billions of dollars on sports rights will want to participate in the complexities of sports betting espn backed away from a potential investment in draft kings back in 2015, though comcast ventures invested in three different rounds in its rival, fan duel. back to you. >> we'll have to watch got a lot riding on it thank you, j

kelly song, you won't find it recommended on spotify julia boorstin is live in los angeles with more.y has removed r. kelly's music from all play list and recommendation features, this on the heels of time's up launching a mute r. kelly campaign, calling for them to stop supporting them in light of reports of sexual coercion and abuse. now spotify just today debuted a new hate content policy, saying it wants its editorial decisions to reflect our values, and that it's, quote, thought long and hard about how to handle content that is not hate content itself but is principally made by artists or other creators who have demonstrated hateful conduct personally spotify also pulled the rapper who faces charges, including aggravated battery of a pregnant woman and witness tampering. but we found a number of artists with violent records on the platform, including chris brown, pleaded guilty of felony assault. kodak black is on the platform he's in prison gucci mane was convicted of assault. spotify says it will evaluate artists on a case by case basis. >> there's a distinction in that the mus