julia boorstin has more., melissa, a metric that facebook has never revealed before it's 2.5 billion that's how many people mark zuckerberg says use at least one of face bokbook's app every monh 2 2.2 billion users. 2.5 billion is how many people use one of the apps which could include messenger, whatsapp, and these are instead active accounts and you won't have duplicates in there. it is an accurate net of how big and wide-reaching facebook is. sher sheryl sandberg is starting to talk >> we'll see you then. >> you called this decline in the shares last week >> without breaking my arm and patting myself in the back the stock is trading where it was two weeks ago. it went parabolic when it broke out at 195 i think it is up 45% from those april lows, post that cambridge analytica scandal. i think this enthusiasm just got a little too much. >> when you think about it, what are you focused on here? the u.s. and canada. $185 million users and and how much can they monetize the existing users and that's why they're

julia boorstin with aat loo why thereaction was sharp and steep. >> the investigation into les moonves comes as theny is in the midst with legal battle with viacom control shareholder and national amusements. after she advocated for mbination of the two companies, cbs led by moonves sued for a dividend to dramatically lower the stake to prevent merger. no right for national voting control. investigatiews o into moonves, which could threaten his leadership, viacom ares moved higher and cbs shares moved lower on the perception that cbs's boa investigation could threaten moonves's leadership of cbs making it morey l that a c merger betweenbs and viacom happened. moonves lauded for his leadership of cbs since it split fromiam back on january 1st, 2006. in that 12 1/2 years moonves bucked expectations cbs would be the slower growingf the companies, diversifying from advertising and growing feeds from cable providers and digital revenues. cbs shares have surged since in contrast viacom shares are in the red ovet t same period as networks struggled with eclining ratings and ad revenue. the st

julia boorstin picks up that part of e story for us now. >> netflix ceo reed hastings attributing the streaming giant's disappointing subscriber growthnd not to any internal issues or to competition, but to the challenges of forecasting and typical dips in the second quarter. analysts are now looking at what netflix needs to do to justify its valuation. >> the key is can they get their mojo back in gear in the quarter that we're in right now, the third quarter and create content that people care about a lot more than they did last year? you know, last year in the second quarter, they had to show 13 reasons why which wasy hug impactful and tons of buzz. nothing in this quarter came close to matching that. >> but analysts are still optimistic aenut the pal for expansion especially internationally. the second quarter was the first international streaming revenue surpassed the revenue from domestic subscribers and that trend will only continue. >> the growth will come internationally and netflix's y numbers frterday was a little off and not off that much so it's not that bad. the question

shares of at&t came underni pressureally lower in after-hours trading and jia boorstin is covering itor us from sun valley tonigse. good t you, jia. basically, did anybody see this coming? no, sue. nobody saw this coming and it was particularly shocking because it's been a month since judge leon gave his pretty sweeping decision in favor of this deal and favor of this type of deal, really eliminating a kind of question about whether it would be appealedy especia because not eliminating a question about when it would be appeal, but the real surprise sue is because the justice department decided not s tok an emergency stay who in the past month these two companies have moved forward with their combination and this appeal mes a month later and it's definitely a surprise. dthey haven't revea what grounds they are basing the appeal on, but what doest&t say? have they responded yet? >> at&t is rponding and the court's decision could have been more thorough and afact-bas well reasoned and the losing party in litigation always has the right to appeal and we're rprised that the doj has chosen

julia boorstin is breaking down the fortnite hype. >> an epic milestone by epic game owe fortnite, 1.1 billion is what it's brought in and that rand mark number is unusually high from a game from an independent studio and thanks in large part for fortnite's battle royale mode in which 100 people can play at once it's grown from $270 million in april to $320 million in may according to super data. it's become the most popular genre watched across all streaming platforms with 700 hours in may alone with fortnite accounting for 300 of those hours. epic can keep innovating to keep driving demand fortnite dipped for the first time in june and then rebounded in july to set new record highs and that was thanks to fortnite's new season of content. fortnite's success hasn't hurt the public gamemakers as many had feared and we are seeing them embrace big group play. activision's blizzard and ea's battlefield five both are in battle royale modes when they launch in october. we'll have to see if those games start to threaten fortnite sales in the all-important holiday season are more unpredictable

julia boorstin tells us why. independent game developer epic games has ats hit on hands. company topping that landmark billion level in large part from in-game purchases around the pular battle royal mode, which allows people to play in one game at a time. in-game purases growing to $318 million in may according to super data research. >> it is unusual to see this s level ofcess that fort night's had being that it's an independen developer. we typically do see the majority of major titles coming from the big three publishers, activision,ct enic arts and take two, i should say. when we look a this title, it's unique. there's not goi to be a lot of title like that that come from independent developers. >> it has become the most popular genre by hours watched with 700 milli hours of game play with fort nightou aing for 83% of those hours according to super data. >> fort night's success hasn't hurt the success of the public gamemakers such as activision and electronic a artsmany had feared, but it is prompting the whole industry to embrace the battleod royal me after the soci

let's get out to julia boorstin.century fox upping its bid for sky. and the top cnbc parent current offer $16.60 a share julia boorstin oh, oh i got it i got it from the allen and company conference in sun valley this morning. i bet you the weather is great it's a dry sort of heat when you're there, julia. the biggest names in media are gathering right now. everywhere you walk, i guess, you sort of run into someone >> yeah. and the big topic of conversation here is what's next for rupert murdoch and brian roberts who we have seen here and now the focus is really shifted away from next bids for fox to next bids for sky after fox put in that higher bid for sky this morning, we can expect comcast to reply fairly quickly within days. we are also awaiting a decision from the uk's takeover panel on the minimum bid that disney and fox could be -- sorry. disney would be obligated to pay for sky shares due to a rule called the chain principle rule in the uk that links sky's value and the minimum required to pay for those shar

julia boorstin, thank you.is conversation, cnbc contributor and our own david faber. david, i'll start with you any intel you have act this meeting coming up? >> a bit i think the board, andrew, is taking this very seriously i think they're being advised to put the interests of the company ahead of any interest they may have in mr. moonves' future. you'd expect them to get that advice, of course. do what's right for the company. protect it, protect yourself potentially. but that's not -- that's pretty serious advice one would expect if they do follow it, they have a hard time seeing in some ways how mr. moonves at the very least is not going to be pushed aside pending investigation if not just going to have a hard time keeping his job. >> jim stewart, i think there's two issues here. "a," does he keep his job long-term. and in the immediate term, does d. -- do they suspend him pending the investigation? >> in other companies they do suspend pending investigation. maybe there is another side of this story he mad

julia boorstin is covering facebook. john fortt will have numbers.ults from las vegas. megan terrell all over gilliad. joining the panel today we have -- >> you are not covering earnings. >> i feel a little left out. >> which ones do you want today? >> i just feel a little left out. >> of course, you do. michael santoli, courtney gibson here. biggest winner in the dow today turned out to be microsoft while verizon was the biggest loser. northrop grumman the biggest loser. >> it was interesting the market was sort of sneaky strong throughout the afternoon. when you got the headlines it was risk on but pressed. i don't think it is because anyone knowathize -- knows the details. the fear the markets had that the president just wanted an aggressive posture and he thought that was a winning issue for him. if it is about concessions and declaring some kind of victory which may or may not have effect on the trade deficit that is a net positive. >> how much more upside is there on this particular issue so far most people seem to suggest that we didn't set up

julia boorstin, cnbc business news, los angeles. >>> back to the earnings in europe, solvay shares areer as strong growth in volume countered headwinds. >>> and sanofi shares are flat after clawing back early losses. the french drugmaker posted slightly higher than expected profits for the second quarter sales in the firm's genzyme division were up 30 cents. sanofi confirmed they're poised for stronger growth in the second half. >>> tesla is reportedly in talks with german and dutch officials to build its first major european factory according to the "wall street journal," the carmaker has held initial talks with two german states battling it out to hostess la's hostess -- host tesla's giga factory. >>> no deal brexit is just not an option. that's a warning from the head of society of motor manufacturers. according to the group, carmakers are increasingly concerned about the uk's future relationship with the eu post-brexit. with the industry and the uk dependant on car parts imported from the eu, the chief executive is warning that production could come to a halt if a no-deal brexit go

throughout the hour and all of the big names, meg terrell, and kate rogers pulling double duty and julia boorstin on electronic arts plus we're pulling out all of the stops for the big kahuna, amazon falling a bit before jumping to touch an all-time high as wall street digests the earnings bit and the whole gang is here, fast money friend gene munster and courtney reagan will be parsing through the headlines and we have top technician chris barron with instant reaction on the charts amazon, the last of the bank stocks to report, and the touching an all-time high any gunning to be the first company to be worth a trillion dollars in market cap. the stock holding up much better than its fears in netflix and both getting crushed and not exactly killing it after hours do you keep buying amazon here and is fang losing its dominance? guy? >> the answer to the first question is yeah, i think you do if you look at amazon's quarter and we were talking before the show 5.6% and distributors are looking for 3.2% and it's 20% of the revenue and last quarter was 18% and that's trending in the right direction. o

julia boorstin has more details. >>> the battle for fox is over sky on the other hand is still up incomcast saying it does not inten to pursue further the acquisition of the 21st century fox assets instead it will focus on a recommended offer for sky. comcast currently is the highest bidder for sky with its $34 billion offer. while the door is open for disney to counter, right now comcast is on track to buy 61% of sky the question is whether disney elects to sell to comcast the 39% of sky that fox already owns, and whether bizny woudisnd try to buy from comcast the 30% stake in hulu it owns. for now disney is focused on fox. bob iger saying our enthusiasm for the acquisition and the value it will create continued to grow as we continue to note 21st century fox's stellar array of talent and assets we are pleased with today's news and our focus now is completing the regulatory process and moving towards integrating our business next up, a week from friday disney and fox shareholders vote to approve that $73 billion deal julia boorstin, los angeles. >>> shares in comcast and disney ende

our own julia boorstin is live there to break down what we can expect hi, julia. >> hi, melissa all ofeavy hitters are starting to arrive and of course, no deal is in more focus than stocks and the battle for those fox entertainment assets we already saw rupert murdoch arrive and he'll be joined by his sons lackland murdoch. comcast ceo brian roberts who we also saw come in earlier is planning in terms of a higher bid for fox and we've not seen disney's ceo bob iger yet and we're expecting him to be here and now in the middle of more chatter, cbs and via com the controlling shareholder, sherry redsten has arrived and we haven't yet seen les moonves and he is expected here and he and redstone are locked in a legal battle over those two companies' future. we spoke to aol founder steve case he told us he expects many more deals, but this time the buyers could be the tech giants such as apple and amazon >> we announced the aol time warner merger 20 years ago, 19 years ago and some of the things we talked about then are now happening in terms of stream beiin and i'm not surprised where they

. >> welcome back to "fast money," we have at&t let's get to julia boorstin in los angeles. >> at&t isling because it missed on revenue expectations and it did beat on earnings. while the company raised its outlook for earnings over the course of 2018, the call that is going on right now is less about results from the quarter and more about the strategy and the newly combined at&t and time warner renamed warner media. take a listen to ceo randall stephenson >> we've now assembled the key elements of a modern media company and it all begins with owning a wide array of premium content because we are absolutely convinced that there is nothing that drives customer engagement like high-quality premium content and whether it's netflix, amazon, google, disney or comcast, everybody is now pursuing the same thing. in an unusual move, stephenson was joined by all of the division heads including john thanky he said they want to invest in more original premium content for hbo. stephenson and stanky talked about how they can have global capability ands how those different investments will enable th

julia boorstin has more on netflix numbers. >> netflix missing expectations, adding 5.1 million subscribers in the quarter. the ceo saying the company had a stro s but notllar quarter, ending with 1 million subscribers in q2. he attributed the number to the company's ost foreg. he addressed growing competition head on, saying in his lettero shareholders, we believe that consumer appetite for great content is broad. hastings aprilse m competition from warner media, and fox and disney or comcast. he's saying his strategy is to simply keep improving. >> dan morgan joins us now to talk more about these numbers. thanks for joining us tonight. >> first on the all important subscriber growth, they are blamg a flaw in their internal forecasting, do you believe that? or is something else going on here? >> well, it's interesting, it's kind of the million dollar question, not only did they fall short for this qrter but they guided for the next quarter also below expectations. was content too flat for the second half of the year. it because of the wor cup? it's kind of like, they didn't really answer t

let's get straight to julia boorstin in sun valley, idaho, for the details. >> calle . >> the department of justice saying it will approve the acquisition of time warner and the appeal is likely, the appeal like the original suit to block the case is on antitrust grounds. we seconds ago got a response from time warner and i'm sorry, got a response from at&t and the court's decision could hardly -- and while the losing party and litigator has always the right to appeal. we are surprised that the doj has chosen to do so under these circumstances. we are ready to defend the court's decision at the d.c. court of appeals so it's just amazing to hear from at&t immediately on that, but this is definitely incredibly surprising because judge leon ruled so definitively just a month ago he did not require any conditions on at&t's acquisition of time warner and the companies have already moved forward with their integration. at&t's randall stevenson has previously said that they are confident that they would win any appeal because of the judge's detailed and comprehensive rejection of the government

julia boorstin hasore on facebook's reports. >> the company fell just shy of expectations on revenue,ive users and monthly active users. this raises the question what kind of impact the cambridge analytica privacy regulations calledddpr are having on facebook advertiser and user numbers. it looks like we're seeing that impact in europe in particular, and the daily active users says in europe dropped fromli 3 mil from the private quarter the first time they have declined. this surprising wall street and investors had expected the company to continue to shrug off the impact p and thevacy scandal in regulations and facebook shares had a new rl-time intraday high before the companyorted earnings. for "nightly business report," i'm julia brstin in los angeles. >> that's where we begin tonight's very busy market focus. the delivery giant's focus rose at a faster than expected clip as international andom erce sales both took off. the company said it is optimistic that it will hit the top of its guidance in the current quarter thanks to broad dehend. >> consumer continues to feel comfortable

julia boorstin is there. ♪ ♪ >> in beautiful sun valley, idaho, deals are in the spotlight. battles over fox and sky. win fox chairma rupert murdoch an comcast ceo brian roberts both here. fox upped his offer to sky to top comcast's bid and comcast is expected to counter quickly. we asked murdoch if this could spark a bidding war? >> how high are you willing to go for sky?s >> tha it. >> that's it? not higher? >> we will see. >> the battl f for and sky imd the completion of at&t's acquisition of warner are expected to kick off the next wave of deals and the growing valuations of fox and sky speak to the growing value of premium content companies and thef scarcity acquisition target. >> there is an expectation that there's going to be more m and a terms the board just in of the media landscape. there have been a lot of deals that have happened a there's a lot of deals in process and there's only a limited amount of beach frontperty out there and when you think about what you're seeing in terms of some of the bleding cand the things happening today, the companies are trying to

for "nightly business report" i'm julia boorstin in los angeles. >>> it would not surprise you to know that facebook is a popular holding among fund managers. if you don't own the stock upright you are probably still invested in it in some way. facebook is % ownedy institutional investors, meaning investment adviseut,l funds and pension funds. vanguard, fidelity, black rock,o state streetl advisers are all top holders of this stock and if you own etfs, facebook is 6% of the qqq which racks the nasdaq 100 index. the technology etf called the xlk had an 8% weighting in facebook shares and vanguard's communication etf and the vox has about a 13% weightingfaf book. >>> so now that the faang names which is the acrym for amazon,en netflix and gond let's take a look at what they're investing in and what's not. john najarian founder of the najarian family office. >> welcome >> good to be here, guys. >> especially on a day like today. ce>> let's start with ok and a terrible day for investors y. how do you look at the stock and what would you do with this? >> last night the told us too much, sue

julia boorstin is in los angeles with the latest. julia. >> that's right, tyler you see those cbs shares declining ahead of an article from the "new yorker" that's expected to report on allegations of sexual misconduct against les moonves. the stock down 6.5%. the independent directors issuing a statement saying all allegations of personal misconduct are to be taken seriously. the independent directors of cbs have committed to investigating claims that violate the company's clear policies in that regard upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the board will promptly review the findings and take appropriate action the timing of this report comes in the midst of the company's very public legal dispute. while that litigation process continues, the cbs management team has the full support of the independent board members. along with that team we will continue to focus on creating value for our shareholders that legal dispute is between moonves and national amus

reports that a yet to be released bombshell article could detail misconduct by les moofs our julia boorstin live with more. >> cbs shares ended down 6% ahead of the expected article from the new yorker by ronan pharoh pharoh tweeted about an hour aig saying i don't comment about articles i haven't published if you are reading from second sources. you may not get the correct story where there is interest in down playing or spinning >> the cbs issued a statement ahead of the article saying it's investigating and taking appropriate actions. going on to say the timing of the report comes in the midst of the company's very public legal dispute. while the litigation process continues the management team has the full support of the independent board members along with that team we will continue to focus on creating value for our shareholders the legal dispute is enbetween movies and scherr y red stone. cbs is suing to dilute national amusedment controlling stake national amuse thes sueded back. red stone issuing a response to the board members saying, quote, the malicious insinuation that ms. red

julia boorstin, the latest on cbs we saw there in the after hour session just about 1% down.oming up, the tweets on the final call well, it's earnings season once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. so lionel, what does 24/5 mean to you?rade well, it means i can trade after the market closes. it's true. so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are

let's get to julia boorstin.lot of questions, so tell us what you know. >> reporter: well, comcast is cnbc's parent company increased its offer for sky to $34 billion. this topped fox's offer earlier yesterday for $32.5 billion and its up from comcast previous offer of about $30 billion. after initially approval fox's bid, sky's independent directors accepted comcast offer. the cable giant who's ceo is here saying it expects to close the deal by the end of october. no word yet from fox on its next move whether it plans to make another bid but all of this comes ahead of bit taken's takeover panel which will announce the price that will mandate the disney pay for sky should fox acquisition be completed. this is due to a rule tieing sky's value to the price of the majority owner which is fox. this rule could dampen comcast interest in continuing to bid for fox should that sky deal go through because effectively fox would be bidding against itself and bidding up that value. a number of folks here are telling me that

julia boorstin is monitoring that take a look at shares this morning getting hammered on those numberselcome back to "squawk box. check out the futures after the second quarter gdp report. 4.1% dow jones looks it would open higher. nasdaq up about 40 points. s&p 500 up, we'll call it 10 points we're calling this a golding locks number i don't know if that's where we are. that's what people are talking about. maybe it leaves the fed in the decent position not to go too fast or too slow >> according to peter alexander, the president will make a previously unannounced statement on the south lawn of the white house on the economy. >> on the economy? it's not in response to putin? >> maybe that, as well surely he's going to talk about the gdp number of 4. 1%. there's another number that is important. twitter. shares are falling after reportings are line in expectations user number, thoughs, and guidance did fall short. julia boarstein on the call. >> reporter: it wrapped up seconds ago. twitter shares plummeting on weak guidance. the company says its largely due what it calls health work. d

julia boorstin with the details. >> electronic arts beating estimates coming in at $709 million for therter. earnings per share 95 cents. the stock is down over 6% right now, and that appears to be because of guidance. guidance for both this next quarter as well as for the full fiscal year that ends in march coming in lighter than expected. that net bookings or revenue number ea uses to forecast lower than analysts anticipated. >> we've got another alert on amgen. >> it looks like a beaten race for amgen montana second quarter versus the average estimate of $3.64. analysts average estimate of 5.73 billion the company says it was helped by higher sales but also the tax rate went down due to u.s. tax reform they also increased their 2018 guidance for both sales and adjusted earnings per share. the new midpoint of the sales guidance is higher than what analysts aric look for however the adjusted eps guidance lower than what the street had been looking for. you are seeing the stock up 1.3% in the after hours the company also saying their new migraine drug is off to a good start that's very

the ceos of the media industry julia boorstin keep us posted. thank you.ning us to discuss, nice to see you both so robert, comcast i guess is where we should start. what do they do next our parent company, we should also note. >> well, they have a challenge, which is surprise that disney was able to put this together so quickly. i got kaulds frcalls from invesd others asking about questions about fcc requirements and all that and documents showed up and the big thing was the department of justice. i'm guessing it was original expected to take a lot longer. so comcast has a short fuse. it's got to get there by the end of this month. >> craig, do you think they will up their bid or do you think they're going to back down ha halfheartedly and focus on the individual efforts or is that a strategy >> a great question. and i think that's exactly right. that they have a tough challenge here because it's pretty clear at the board at fox would prefer to do a deal with disney instead of comcast and so for comcast to win they're going to have to come in with an offe

julia boorstin was on that call, also has been working the phones julia has a look at what happened >that's right. i was on that call at one point facebook gave up its gains for the year plummeting nearly 24% during that earnings call at its low, the company losing about 1$145 billion of market cap. it came down to this wrarning th warning that the company's slowing revenue growth will come >> our total revenue growth rate decelerated 7 percentage points in q2 compared to q1 growth rates will continue to decelerate in the second half of 2018, and we expect that to happen in q3 and q4. >>> also weighing on the stock, the warning that total expense growth will exceed revenue growth and also saying over the next several years operating margins will trend towards the mid 30s on a percentage basis, that's down from 44% in q2 mark zuckerberg explaining how protecting users data will impact growth and margins. >> we will continue to invest heavily in security and privacy, we have a responsibility to keep people safe. but as i've said on past calls, we're investing so much in security that it

let's bring in julia boorstin and set the table for the discussion that we'll have all morning long >good morning to you, carl facebook reported its slowest ever user growth and revenue growth slowed more than expected it was this warning from facebook's cfo during the earnings call that sent the stock plummeting take a listen. >> our total revenue growth rate decelerated approximately 7 percentage points in q2 compared to q1. total revenue growth rates will continue to decelerate in the second half of 2018, and we expect our revenue growth rates to decline by high single-digit percentages from prior quarters sequentially in both q3 and q4 >> the reason for that decline, the company cited foreign exchange rates, news stories hazards aren't as profitable as news feeds ads and giving users more choices for privacy this followed the krcambridge analytica scandal. mark zuckerberg explained how protecting users will impact margins. >> we will continue to invest heavily in security and privacy because we have a responsibility to keep people safe. but as i have said on past calls, we're inve

and julia boorstin joins us now from sun valley, idaho it's dark.should be coming up soon, though but you're not in the dark on this and you have randall later, julia. >> that's right. the doj filing a notice of appeal of the judge's approval of the at&t acquisition of time warner leon imposing no conditions on the deal which closed quickly after his decision now, on this news, at&t shares dropped more than 1% in after-hours trading last night at&t's general counsel responding, quote, the court's decision could hardly have been more thorough, fast-based, and well-reasoned. while the losing party always has the litigation to awe peel if it likes, we are ready to defend the court's decision. now, a number of ceos we've seen here have avoided the cameras in the wake of this news. one ceo called the decision crazy. another refusing to comment because he said the topic is a hot potato he said he and other ceos he was just with were shocked by the decision to appeal he said he had read the decision in its entirety which he thinks made it clear that the do

julia boorstin has the highlights of the day ahead of the interview. >> mic trouble. and take you back to julia. >> i was going to say faber reported that comcast was likely to come back with another bid, as well. the saga is not by any means over. >> ahead of the sky deadline on friday. that is the place where this sort of stuff goes down minute by minute. >> and a lot of them are there including rupert murdoch. >>> we will talk about oprah winfrey because she is getting involved with another food company. find out what the latest venture is when we come back. always discreet boutique. hidden inside... ...is a super absorbent core that quickly turns liquid to gel. [snap!] so i feel protected... ...and pretty. always discreet boutique. >>> welcome back to closing bell. julia boorstin out in sun valley, idaho where the media moguls are gathering and the deal speculation is on. >> that's right. and the two deals that are most in focus are fox and sky particularly sky with rupert murdoch upping the bid for the remainder of sky just this morning. comcast ryan roberts is a

jul julia boorstin has a look at what's going on. >> david, weighing on twitter shares, the fact that company lost a million active users between the first and second quarter the company reporting 3 million fewer monthly users than wall street expected, and twitter warned user declines will accelerate next quarter. they lost users due to health work, the move to delete fake accounts and bots, saying that lower than expected profit guidance for third quarter is worth it for the long term value of cleaning up twitter >> we do believe that our health work and focus on improving the health of the public conversation on twitter is a growth factor over the long term we want to make sure we're building this into our dna we want to make sure we are able to measure it, held accountable to it at well. >> door s-- door see says they want current user more engaged >> the biggest impact we had in getting people into heavier states of usage has been around relevance. anytime you add learning models to the time line, it is more relevant to people people can show up to the app and immediately see som

they reported broadband growth and record setting coverage for telemundo after the word cup julia boorstin a look. >> comcast shares are higher after beating expectations with addition of high speed internet subscribers. they added 260,000 high speed internet subscribers 65,000 more than analysts expected with a loss of 140,000 video sub vibers in online with expectations the company's earnings of 65 cents beet forecasts fell short of the 21.86 billion they expected. 20% drop in revenue at the movie studio was compensated by 8% growth in cable tv while broadcast tv revenues grew 7%, bolstered by telemundo broadcast of the world cup and gains in ad sales. steve burke says up front ad sales were the strongest since comcast because nbcu seven years ago. as for the decision to drop the bid for fox, ceo brian roberts explained the price was getting too high. >> it was a unique opportunity and we were very disciplined in our approach to it, but thought it was mostly about international expansion opportunity. we had regulatory belief it was approvable in the united states. we pulled back because

. >>> is the media soap opera over julia boorstin joins us with more. >> battle for fox is over. skye is still up in the air. comcast says it does not intend to pursue further the acquisition of the twenty-first century fox assets and instead will focus on sky. as of now, comcast is on track to buy 61% of sky, assuming those deals go through the question is whether disney elects to sell to comcast 39% of sky that fox already owns and whether disney would try to buy from comcast the 30% of hulu that it owns if disney ends up buying out stake in hulu, that would give it 90% of the streaming company. disney is focused on fox ceo bob iger saying our incredible enthusiasm for this acquisition and value it will create has continued to grow we are extremely pleased with today's news and our focus is now on completing the regulatory process and ultimately integrating our businesses next up a week from tomorrow, disney and fox shareholders will vote to approve the $71.3 billion deal. >> julia boorstin, thank you comcast shares up 3% right now raymond james saying they are happy this biddi

. >>> netflix is tanking on its earnings reports what is wall street saying, julia boorstin has more.after hastings said in his letter that he anticipates more competition from the combined at&t warner media company, and fox and the new parent company, whether that's disney or comcast. victor an tlon any telling us, this is a material miss on both company guidance and our expectations, which should challenge the sentiment on the stock. anthony saying we continue to remain on the sidelines. mikal pack is saying the stock is down because domestic editions fuel the cashflow losses everyone accepts that international is an investment mode, and their guide is wimpy as well, investors should be concerned by the ballooning balance sheet for content. the subscriber miss was a disappointment but does not move the needer on our thesis that international subscribers will march down the path to hitting between 90 million and 100 million sub describers a 2020. ives saying he would be a buyer on this weakness we'll have to see whether there's more of a reaction to what hastings has to say that vide

happened there and on its disappointing second quarter numbers, that is a report filed by julia boorstin. >> reporter: facebook raising red flags that after revenue growth slowed more than expected it will decline meaningfully over the next two quarters, while the user number showed the lowest growth rate ever. and in europe users declined in the quarter, but some analysts are still optimistic about the future >> we think facebook's prospects still look good, long-term and short-term there's going to be a lot of question marks around the decelerati deceleration >> reporter: facebook warned that ads on its stories features are not as profitable as ads in the news feed, though bulls said that could change. >> what happens the revenue per user, can that keep going up with stories bag break out hit for them, which they obviously stole 100% from snapchat, if they figure out how to make stories make money this could be a revenue juggernaut >> the company warned margins will decline meaningfully in coming years as they ramp up investments in safety and security facebook is hiring thousands of e

julia boorstin has more on this. >> reporter: subscriber growth stalling short of estimates sending shares plummeting. the company adding 5.15 million subscribers, more than a million short from the 6.2 million it projected it would add netflix forecasting lighter subscriber growth in q3 than expected, 5 million new subscribers versus the 6 million analysts projects. reed hastings did not attribute the shortfall to competition but to challenges to the internal forecasting. revenue came in at 3$3.9 million an increase of 40% from the quarter earlier. hastings did address growing competition head on saying he believes there's room for multiple properties to have attractive offerings for consumers and saying they expect more competition from the time warner merger. hastings saying his strategy is simply to keep improving >>> as well as releasing those results, netflix gave viewers a first look at its new queen. the show tweeted a picture of olivia colman as a slightly o older queen elizabeth. >>> the streaming service expects more competition from at&t/time warner and whatever happens in the

julia boorstin in los angeles with the latest.eporter: well bill cbs board is selecting outside counsel to conduct independent investigation but is leaving moonves as ceo a surprise following speculation that they could can him to take a leave or moonves could opt to step back. in the wake of the ongoing uncertainty cowens doug slay slashing the price target. saying that's a reflection of the fact gnat added overhang of the investigation of the uncertain length with uncertain outcome will make share outperformance difficult in contrast, jp morgan who has the overweight rating on the stock and the $75 price target on the long-term potential warn that is allegations create a near-term overhang eefr even the host of the cbs late show weighing in >> i like working for him. but account alkt is meaningless unless it's for everybody. whether it's the leader of a network or the leader of the free world >> all of this conversation about the future of les moonves comes as prosecutors say they decline to pursue claims by a woman made by a wo

leslie pickers at headquarters for more on comcast and fox let's head to julia boorstin is sitting down with peter. >> thank you so much for joining us from here in sun valley. >> my pleasure >> with everyone talking about what's next for fox and sky, you know all of the players and you used to run fox and you advised comcast on its acquisition of nbc universal. >> that was a long time ago. >> but you do know the players >> i do know the players >> which of these potential buyers, disney or comcast is better suited as a buyer for fox? >> i think that -- look, at the end of the day whoever executes is the better buyer. i think that they both bring very different things to the party. i think disney brings what is at this point the best content in the world. their idea is to combine that with fox and to build on and disney can combine with marvel and what comcast brings is solid context in universal and nbc and existing customers who are already on the billing relationship, they are two very different things and disney would have a content head start and comcast would have a distribution h

let's go to julia boorstin in los angeles for the latest on this story. >> brian, the cbs board is leavingoonves in his post as ceo of cbs as the board selects outside counsel to conduct an independent investigation into allegations ha made in the ronan farrow article from the 1980s to the 2000s. he respects the board's decision to hold off on any action for now. >> i'm a strong believer in les as the ceo of that company and if les were not in the seat of that company i don't think i would be in the market to buy cbs stock. >> but on news that these allegations, they're slashing cbs' tag net downgrading the stock, the added overhang of an investigation of an uncertain length with an uncertain outcome. it has an overweight rating on the company with the long-term potential and it still warns that the allegations create a near-term overhang and this comes as prosecutors say they've declined to pursue claims led by women alleging to sexual abuse and one from 1986 and two others in 1988. prosecutors saying the statute of limitations on these claims has expired. ronan farrow tweeting that these

subscriber numbers crushed the stock remember yesterday and into the morning let's stend it over to julia boorstin it w . >> it was down more than 14% today. weaker than expected subscriber growth in the second quarter and a disappointing projection from the third quarter earnings growth the long-term outlook is unchanged and subscriber viewing is growing take a listen. >> the fundamentals have never been stronger. our viewing is setting year over year records with shows we have coming so we're feeling very strong about the business >> some analysts and investors do see this dip as a buying opportunity. saying we view netflix's long-term outlook positively given the upside case we believe exists for the company's domestic and international opportunities. but we counted at least five analysts lowering their price targets on the heels of this report deutsche bank downgrading netflix today. saying it could mark an end to the accelerating international net add trend it's kpikted in the past consecutive quarters. in light of competition ahead, hastings saying they're doing everything they can to create

let's get to julia boorstin with the numbers. >> pandora shares now shooting about 8% higher in after trading after beating on both earnings and revenue the company reported adjusted earnings per share of a loss of 15 cents, one penny better than estimates. revenues also beating estimates coming in at $385 million. analysts had been expecting $373 million. the company says it has approximately 6 million paying subscribers. estimates were for 5.77 million subscribers. to listen hours 5.09 million the number weaker than expected is the active listeners at the end of the quarter pandora reporting 74.1 million analysts had been expecting 71.2 million the stock bouncing around quite a bit there, 6%, 7%. the company saying they will provide guidance on the earnings call back over to you >> mike, any thoughts on this jumping 5% >> it was down from 830 two weeks ago, so it had this big kind of pull back. we're recouping a bit of that. what i find interesting about pandora, it has traded up since spotify became a publicly traded company and became a strong stock. it's almost brought attention

we'll spin forward and preview apple who report next week >>> i'm julia boorstin in los angeles. reports of sexual misconduct allegations. the stock taking the news. i'll have more on the fall out coming up. >>> in washington, d.c. with the real estate makeover forget the old boring for sale sign i'll show you a new hi-tech smart sign that could disrupt the industry but could also cause controversy coming up. >>> i'm sara eisen in for kelly evans. amazon showing another strong quarter. "the closing bell" starts right now. >>> what is that song? >> i don't know. >> anyway, good afternoon and welcome to "the closing bell," an action packed afternoon for a friday with some very divergent market moves as well, and we'll get to all of those stories in a moment tech, dragging down the sector there's innasdaq for you down 1.6%. that's over a percent decline for the week as a whole. >> a brutal one for faang and so many people who own those stocks in the meantime big story of the day, gdp coming in at 4.1% our steve liesman joins us now to break down all the details. >> yeah, 4.1 was the

that has people's attention, which is no other action was taken on the matter let's bring in julia boorstin she has more as well on what is a rapidly developing story. they met for a few hours today and i know there were a many people who thought perhaps they'd see some announcement regarding mr. moonves' future. nothing at all >> there's been a lot of speculation tat the board could ask moonves to take a leave of absence, to step back during the process of vis investigation or he could decide himself to either take a leave or even potentially resign, which is something we have seen other ceos do which in similar situations but the board showing it still supports moonves to run the company through this no changes, no indication of any secession plans depending on what happens of the findings of this investigation and sounds like they're going to try to make it business as usual while the investigation happens. cbs earnings after the bell on thursday, that's an earnings call that's traditionally led by moonves talking himself about the company and its trajectory so it'll be very interesting

going to be a fun closing bell next week facebook is now suspending another firm >> cnbc's julia boorstinas the details for us >> it investigates whether the boston based analytics company violated facebook's policies on collecting and sharing user data had it contracts to analyze facebook data for a russian non-profit connected to the kremlin as well as multiple u.s. agencies saying government contracts were not approved by facebook crimson hexagon says it has the largest repository of public social media posts it says it's cooperating with facebook which publicly stated its investigation to date has found no wrongdoing. facebook saying, quote, we don't allow developers to build surveillance tools and we take these allegations seriously and have suspended these apps until we investigate this is just the latest in facebook's privacy issues as it pulls back developer's access to data >> julia, in terms of the earnings next week clearly last quarter's earnings weren't affected in time by the breaking story, the cambridge analytica privacy scandal because it happened so late in that quarter.

julia boorstin joins from us los angeles with that story. tyler, twitter shares plummeted nearly 10% following a "washington post" report that twitter suspended more than 70 million accounts between may and june over a million accounts each day saying that twitter has more than doubled its suspension rate since october. this raised concerns that the suspensions would hit twitter's monthly active user numbers. at which timer paired the losses, the stock now down about 5% after twitter cfo ned segal says most accountsed removed were not reported in the metrics as they have been active or 30 days more or we catch them at sign up and never counted. the "washington post" report follows twitter revealing in a blog post that as of may its systemsed identified and challenged more than 9.9 million potentially spam or automated accounts per we can. and did you to improvements in the past year they're now removing 214% more accounts for violating spam policies. known as first quarter shareholders letter, twitter warned that ongoing information quality

media earnings kicking off and analyst focus on key area that is could be of concern julia boorstin withails. julia. >> well there are a couple of big questions. what's next for m&a and how bad is cord cutting. this morning verizon guidance and results beating expectations outgoing cfo local mcadams saying unlike at&t doubling down on content he doesn't want to make similar media acquisitions. >> it's our belief we are positioned perfectly of to have the partnerships we need to be successful we are not owning content so we're not competing with content providers. we are their best partner from a distribution perspective. >> as your cord cutting verizon lost more subscribers to the tv service than expected. 37,000 verizon does not have the skinny bundle and closed down the mobile video app golde go 90 the big question for at&t reporting the earnings after the bell this afternoon as well as the other media giants is how much they suffer from the cord cutting and how much new digital revenue compensates for the traditional tv declines back to you. >> julia thank you >>> more about cord cutt

at&t ceo randall stephenson spoke earlier today with our julia boorstin in sun valley, idaho. >> reporterndall stephenson telling me that at&t was prepared for the doj to appeal judge leon's decision and that this appeal has no impact on the way he's running the combined company. >> we think the likelihood of this thing being reversed and overturned is really remote. it's a very narrow path that would have to be traveled to get this thing reversed in any way so we're about executing our plan the merger is closed we own time warner. >> stephenson says in light of recent run-ups in the price tags of fox and sky, he's more confident in the value of his own deal than ever >> we feel really good about the assets that we got, the great brands that we got, and we'll execute. in terms of overhanging the stock and uncertainty, there's not much we can do about that except address it in the court we'll work it as expeditiously as we can but it's in the hands of the court now. >> as for what this means for other deals, he said the doj's appeal should not change the plans of other media ceos. obviousl

julia boorstin. >>> the fortnite craze isn't losing steam how are gaming stocks cashing in on the hypeing me is timothy oshae at vice president at. >> thank you for having me back. >> when you look at the performance of the video game stocks over the past three months they don't seem to show any pressure from the fortnite phenomenon why have they been immune sthe issued second quarter guidance when fortnite was if full swing no impact there. >> the gaming stocks have surged since the second quarter wsh completely recovering from any pressure we saw in march around fortnite since april 1st the start of the second quarter, act vision blizzard 49%. ubi soft up 15%. active vision like yea they reported strong first quarter results. the view is it to are theant can peacefully kpoe exist. it's not can'tablizing businesses in fact expanding the market fortnite could be more of a spoil they are holiday but remember. >> how does it expand the market is it a different kind of gamer than who plays on ea or active vision game? if i told you that there is a competing streaming service out there tha

want to get to julia boorstin who has the latest >> les moonves is staying in the corner office at cbsnew yorker article accusing him of sexual misconduct between the 1980s and 2000s. saying they are in the quote of selecting outside counsel to conduct an independent investigation. they could ask les moonves to take a leave during it or moonves could opt to step back or resign. the board also deciding to postpone the company's annual meeting with stokds to a date and time yet to be determined. >> with all the directors are expected to focus on cbs' court battle with shari redstone and her push to combine cbs with viacom since the news of these allegations broke on friday, cbs shares are down about 11%. viacom shares are still up about 2.5% now as the board works on hiring a firm and starts its investigation, the next event is due out thursday afternoon we have to see what he december then >> thank you, julia. appreciate that very much. stay where you are want you to be part of this conversation as well brian weiser is joining us from pivotal research group your take on this given where