inside look at the company's new $30 billion deal with brookfield, what it signals for intel, chip industry, and capex. >> we're going to kick off today's feed with duelling stories in software. zoom is plummeting this morning after cutting its outlook for the next quarter and the year. shares are now on pace for their worst month since april. see down, they're more than 13%, cfo warns new paying subscribers proving harder than expected to come by, zoomphone doing fine, though, in the opposite direction, palo alto networks, biggest gainer on the nasdaq this morning, up more than -- the company announcing a three for one stock split set to take effect on september 14th dee, this is sort of a sign of the times, security so important, the moves to the cloud, a wind at palo alto's back here. and bookings, you know, bookings really strong, showing that this isn't just a one quarter thing, but the intention to spend is there in place for months to come. >> and gap profitability for the first time in four years, that was something that aurora highlighted. zoom in this brutal selloff we're seeing i

it's the brookfields of the world, the al creeks, on and on.s is the same thing only a different desk, so to speak. it's infrastructure where they have an enormous fund and they are lending directly, and pushing out banks that might have come in at a higher number in terms of what they wanted and yet are willing to do so because of course the returns that they're planning on getting, let's call it mid- to high single digits, perhaps, are plenty, for the funds that they have in place. interesting move from an intel we can expect to see more of it from what i hear from those who worked on the deal >> it's interesting you mentioned the dividend, people are worried about the dividend, this is a very good solution i know mobile is going to come, it will be exciting, the ipo market is completely dormant, we're hungry for an ipo. pat gelsinger getting out of the hole >> as you said, these plants take years and tens of billions to build micron also making a $40 billion commitment over some ten-year period >> in the medium term or short term, they're no

intel corporation and canadas. brookfield asset management have agreed to jointly fund up to $30000000000.00 for the us, chip makers, arizona factories that will help in tell bring more of it's chip production on shore. brookfield will invest up to half of the toil to take a 49 percent stake in the project. but intel will retain operating control of its 2 factories that make advance chips in arizona. turning now to our correspondence, teddy austro and new york teddy. the aim here is to retake market share, especially from the asian ship manufacturers. will this allow intel to do that? bo, this short answer to now is probably not. yes, this is quite big for intel, which is angling of course, to be a top manufacturer of some of the most high tech sunday conductor chips, which those spots are taken by many asian manufacturers. specifically, t s am see anti one and samsung. now intel, at the same time, is likely going to get a large slice of the pie that pie being a chip spill that was passed in congress. that's $50000000000.00 going into domestic manufacturing and research. but we're going to t

to receive the central bank and many other bodies, so the so called independent institution of brookfield laws, their independent, it has, it really became a typical populace politician. i think the only thing that matters is himself would be planing power and making himself ready to reach abraham lincoln once said mm, if you want to test a man's character, give him power. ah, it's important to recognize that democracy without constraint can be extremely dangerous. in some places what we've seen is a decay in those liberal rights. i'm without actually seeing an elimination of free and fair election. you're the, if you could get the planet. i don't see them a little bit. i'm so fucking dark. but in to go more systematic runway during most of modern history, up through the mid to late 20th century. the main way in which democracies died was through some kind of violent break. with the past, you know the military out on the street with the tags and the guns over throwing democratically elected governments. these days, democracy doesn't die. suddenly, it dies by a 1000 cuts step by step and d

think of it like a joint venture between intel and brookfield asset management they're going to investlion in two fabs in arizona. intel will pay the majority at 51% of total costs and retain control of the fabs, and then you've got 49% for brookfield. the cfo said this could potentially be something we see in the future, more partnerships like this in the chip space. intel expects to fund these from cash flows from operations and government incentives, which means it's still reliant on things like the chips act, which would help bump its cash flow by $15 billion according to the company. the company, though, is pretty good at raising capital, right what about that execution, this stock yesterday did hit a five-year low. it's trending higher at $34 a share, but down on the year. on a yearly basis, though, 12-month chart, think of that, nvidia is the stock that has fallen the most from its 52-week high its earnings are out tomorrow. the company preannounced weaker revenue stating the gaming space faced a crypto hangover and the challenging market conditions would continue into the third

intel secured $30 billion in funding for the new chip factory, saying that the deal with canada's brookfieldcan be the first of many.>>> sticking with chips, nvidia, results due after the bill tomorrow, the stock down more than 40% this year after a heck of a run, options traders are plugging in ahead of the report. and let's go mike. and single stock options, the contracts overall, the options market implying a move of 6.4% by the end of the week following earnings. and 180 >>> calls. and those traded, and average price, buyers are obscene betting the stock will rally through the 180 price, by at least 2 1/2 dollars, that they played, hoping for a bounce after the announcement we got a couple of weeks ago.>> always exciting when nvidia posts, and guys, what would you be doing? >> cook will be where, i'm not sure what the t-bone thing is i'm sure it's really but i will never bet against mike: in terms f what he's seeing, and the back of them for gaming, sort of game over. and cheap, and the bounds, 185 and all 190 level, you take the money and run.>> wasn't guy around, jason alexander, was c

. >> yeah, a lot of good takes today on intel brookfield as well. >>> macy's shares getting a nice pops on both lines but they do cut their full year sales and profit forecast. says they will need to offer more discounts to get rid of excess inventory, especially in casual and leisure apparel we'll get more results when nordstrom reports after the bell courtney reagan joins us today does macy tell us how they're winnowing down some of those inventories? >> it is interesting what they had to say they were about 7% year over year which really is not that bad when you think about the inventory levels that many other retailers put up the ceo told me this morning that actually the inventory levels were in line overall although he said certain categories were out of whack, those were his words to your point, carl, some of those pandemic categories that we were buying so much of, which we're buying less of now, of course they're a little overinventoried and some of the areas consumers are interested in buying macy's would love to be more inventory but does plan to have 55% available for holid

you don't like interesting announcement this morning, i spoke with intel's cfo, coinvestment with brookfield to fund their fab buildouts. this is going to cause less strain on their cash flow. appears to potentially at least have some upside for their model. does this make you feel better about the company or no? >> yeah. so first, i think we have to acknowledge and applaud the fact that intel is, you know, very keen to invest more in the u.s i think they absolutely need a lot more semiconductor investments domestically in the u.s. i think it's a big risk to be very dependent on taiwan and the east i think we also applaud intel for finding creative ways to pay for that having said that, intel faces three structural issues. the first structural issue is the technology is behind number two, intel continues to lose market share to amd in the server side and that dynamic is not going to change for the next two or three years number three, a big part of how the company is exposed to the pc market, let's say the pc market is past its glory day the three structural issues are in any way addressed b

intel has made a deal with a company called brookfield to fund a multibillion-dollar chip factory inzona. peloton just made a deal with amazon to sell bikes and other things on amazon. peloton shares were unchanged yesterday. you don't see that one very often. >>> insiders say several government agencies and congressional committees are interested in investigating twitter after twitter's former head of security filed a whistle-blower's report saying twitter does not take security seriously enough. the report says, among other things, the company was reckless as it allowed too many employees to access sensitive data. >> senate judiciary chairman dick durbin warned "if these claims are accurate, they may show dangerous data privacy and security risks for twitter users around the world." twitter says the report is filled with "inaccuracies" and points out it fired its head of security, the man who made the report. >>> if you couldn't sleep last night, and tried to go on facebook, you probably discovered you couldn't. facebook was down for a while. a security leader there blamed what she

susan: for brookfield assets?4 a share, because i think that dividend's pretty high at at the point. s&p 500 winners, halliburton, cf industries, mosaic company. no big names really. nasdaq composite, okta, swell's on -- intel's on that list, nvidia, fox corporation, netflix all there. where's the 10-year treasury yield? susan: 3%. i'm checking the yield, but 3%, that's -- can. stuart: absolutely, 3.06 on the 10-year. the price of gold morn being, 1752. bitcoin, $21,500. the price of oil, 92.97, so that's going up. nat gas we just showed you, 14-year high, and the average price for a gallon of regular gasoline is 3.89. for diesel -- susan: intel, 4.3% dividend yield, so that's impressive. i didn't know it was that high. [laughter] wow. stuart: not bad at all. coming up on the show today, elon musk demanding jack dorsey turn over information on pick twitter accounts. and remember that small, money-losing new jersey deli we told you about? your hometown deli that was once owned by a publicly-traded company and value

host: brookfield, wisconsin, good morning. caller: good morning. i can't help feeling like the democrats played the long game on this one. we got the infrastructure will, that's great. other than that, i haven't heard a lot of progress. this checks all the taxes. it reminds people why we voted for them. it's time for the midterms. i'm pretty happy. host: democrats played the long game. using a special process called budget reconciliation to allow this bill to advance with a simple majority rather than usual 60 votes needed in the senate. this is the wall street journal: just about five minutes left in this segment. getting a reaction and if you don't get in the segment, we will talk about it as well a little bit later in the program. republicans (202) 748-8001. democrats (202) 748-8000. independents (202) 748-8002. this is jack in pennsylvania. good morning. caller: good morning. thank you for having me. what i would like to bring to light is the fact that i paid more than 15% taxes from my paycheck. i am not a billionaire. i pay more taxes than bi

host: this is rachel in brookfield, wisconsin. caller: morning -- good morning. i think democrats played elongate -- the longest game. you have the infrastructure built --bill. i haven't heard a lot progress and his checks all the boxes -- this checks all the boxes. i am pretty happy. host: you say democrats played the long game. democrats using a special process call --called -- this is old wall street journal noted. -- this is the wall street journal building this. --noting this. those rules push democrats to drop provisions and it requires lawmakers to undergo the open ended amendment process that lawmakers use over this past weekend to make their final changes to this legislation. this protocol -- so-called voter from a --voterama. just about five minutes left, getting your reaction and if you don't get in this segment, we will talk about as well later in the program. republicans, (202) 748-8001. democrats, (202) 748-8000. independents, (202) 748-8002. caller: thank you for having me. i paid more than 15% taxes for my paycheck and i am not a billionaire. i pa

well, intel and brookfield asset management announcing 30 billion-dollar deal to finance the chip maker's under the deal intel is going the fund 51% of the cost to build chip factory in arizona and bookfield would own remainder of equity and split revenue, first of series of arrangements of intel and looking to regain manufacturing over foreign competitors. finally there's this, actor sean ashton martin selling for $2.4 million, road vehicles in james bond film before buying his own 1964 dbt and the vehicle was black at the time. he painted snow shadow gray to match the ones in the films. portion of proceeds to john connery philanthropy. they support a lot of charities, maria. he died at the age of 90, sean n connery drove really cool car. maria: here is the migrant bus in new york city at port authority and we are watching who is coming off of this bus, largely adult males have now descended on new york this as texas governor greg abbott writes in new op-ed in new york post that mayor eric adams, quote, talked the talk about being a sanctuary city but when pressed into fulfilling such il

a few months ago, they agreed to sell themselves to elliot management in brookfield and there was anotherrt this. it's a buyout worth $10 billion. stuart: a whole bunch more stocks taken off the market. lauren: and the stock goes up. stuart: president biden repeatedly said he's the only democrat that can beat trump in '24 but a democrat strategist said florida's governor desantis is a much scareerer opponent. we're on that. democrats in the media waste no time celebrating an fbi raid at mar-a-lago. watch this. >> this gives me confidence that the justice department is really pursuing this, thoroughly, objectively, and in a nonpolitical way. >> we're all going to remember being together on this night. >> the democratic reaction is halleluiah. stuart: we're all going to remember being together on this night? good lord. we have california congressman on the show next. slamming governor abbott for busing illegal migrants from texas to manhattan saying it's unconscionable, mean and cruel. nate foy has our story after this. this is xfinity rewards. our way of showing our appreciation. with rewa