why am i convinced it's ready to roar chuck robbins has been laying groundwork for years they brought in as the new ceo and it was left behind by rivals within a year of taking over he started signaling a major course change and wanted them to shift focus from hardware to software-based networking with a major focus on security. once you're in hard to get out he has a ton of layoffs and been aggressive but using their cash to acquire other businesses to change the face of cisco in 2016 cisco bought jasper technologies, internet think cloud and a security software play and snapped up one i thought was a good acquisition and bought a cloud application monitoring platform and bought broadsoft. it is a leading player in cloud calling and contact center solutions and deals continue in may they acquired a company and that's an ai-driven relationship with amy chang which i think is fantastic then another cybersecurity play that's doing fabulously and it changed the face of the company making the business much more software focused with higher gross margins. what's not to like took a while to

weevil here from chuck robbins. bloomberg. >> since going public in march, dropbox has had some ups and downs. the stock price spiked and then again in the summer, only to dramatically fall. despite another order of strong earnings. we caught up with the ceo and talked about what has been going on with him since going public. >> it is kind of back to business as usual. we have been running the company like a public company, so if anything, it has been back to recruiting and building. >> you just reported stronger earnings. he also announced the coo is leaving and investors seem spooked to should they be concerned? >> i don't think they should be concerned. to work wek back were, we were a fraction of the size. now we are a global company. it is because that business is in such great shape that he can pass the torch. he is a team will miss him. i'm sure the team we have met he -- built moreat is your plan to get corporations paying for higher-priced plans? >> we have been making a lot of progress. over the last quart

we will hear from ceo chuck robbins. bloomberg. ♪ selina: since going public in march, dropbox has had ups and downs. the stock price spiked on its ipo and again after its first earnings report earlier this summer, only to dramatically fall after the surprise departure of coo dennis woodside, despite another quarter of strong earnings. we caught up with drew houston and talked about what has changed for him since going public. drew: in some ways, it is kind of back to work or back to business as usual. and part of our path to being public, we have been running the company like a public company for the last couple of years so if anything, it has been back to recruiting and building. emily: you reported strong earnings and you also announced you're coo, dennis woodside, who was there for four years, is leaving. investors seem spooked by that. should they be concerned? drew: i don't think they should be concerned. dennis has been amazing, and an incredible partner to me. when i think back to where we were when we joined the

chairman and ceo of cisco, chuck robbins. >> no falcons/eagles trash talk today? >> look.'m ecumenical frankly, he's going to be a graceful loser when we have the homeowner on nbc it would be difficult to travel and be in the box. but it is nice in defeat, he's really admirable and humble >> no chance to retort >> no. that's why we cut his mic off. >> thanks to chuck >>> we'll countdown to the opening bell in a few minutes. s some representatives here from the u.s. navy to ring the bell eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade i wok(harmonica interrupts)ld... ...and told people about geico... (harmonica interrupt

ceo chuck robbins discussed results and changing customer needs with bloomberg's jon ferro. a good quarter. i think this strategy is clearly working. our product and the innovation we are bringing to our customers as they navigate this multi-cloud world, they are being well-received. -- growthwth we that was very bounced across all of our areas, and this transition we talked about, the business model work we have been doing continues to take over with our software and subscription business continuing to grow. to your question, relative to what is going on, we have a lot of things happening around us right now for sure. so if you look at our performance, i think we have clearly driven a significant amount of innovation in our portfolio. our teams have done an amazing job, and at the same time we have had a strong global macro economic environment to operate in. and right now, we obviously have some dynamics with the rising dollar. we have some uncertainty in some of the emerging countries. we've got the trade dynamics. so those are things we don't we willily control, so have t

the ceoersation with chuck robbins, next.berg. ♪ selina: cisco appears confident an overhaul of its computer networking products will boost corporate demand. the company gave bullish forecast for the quarter that beat estimates. it also posted higher-than-expected quarterly profit and sales that rose for the third straight quarter. bloomberg spoke to cisco ceo chuck robbins following that report. chuck: we had a good quarter. the strategy is clearly working. the innovation we are bringing to customers as we navigate the world, it's being well received. we saw growth very balanced across all of our technology. this transition we talked about, the business model work we have been doing continues to take hold, with our software subscription business continuing to grow. we have a lot of things happening around us right now. for sure. so if you look at our performance, we have clearly driven a significant amount of innovation in our portfolio. our teams have done an amazing job. and at the same time, we have had a strong global ma

chuck robbins will be on "squawk on the street" today at 9:00 a.m. >>> shares of netapp are down moren 6% the cloud services company reporting better than expected results on demand for flash story. they did give cautious guidance. >>> starboard has taken a 6% stake in symantec. the "wall street journal" reports that that company is seeking a board seat and says symantec needs operational changes to improve margins >>> let's turn to retail if you have not been paying attention in class, you have missed this ridiculous retail rally for some of wall street's best known retail names. i know all the attention is on the f.a.n.g. stocks, but look at this we have seen signet jewelers up 57%. the container store, up 55%. tillys up 50%. five below up 41%. conn's, francesca's, tiffany and american eagle up about 20%. those stocks have made investors more money than many of the big cap technology stocks that we talk about so much here's the question, will that retail rally continue as more companies start to report their numbers? let's bring in dana telsey from telsey advisory group. i guess, da

we will hear from ceo chuck robbins next.york, this is bloomberg. ♪ scarlet: this is bloomberg markets. i'm scarlet fu. abramowicz.m lisa cisco systems is growing again and wall street is thrilled. the company reported better-than-expected earnings. we spoke with chief executive chuck robbins following that report. chuck: we had a good report. the strategy is nearly working with our product and the innovation we are bringing to our customers as they navigate that multi-cloud world, we are being well received. across ouralanced technology areas, and this transition we talked about the business model work we have been doing continues to take hold with our sophomore subscription business continuing to grow. to your question, relative to what is going on, we have a lot of things happening around us right now for sure. if you look at our events, we have clearly driven a significant amount of innovation in our folio. our teams have done an amazing job, and at the same time we have had a very strong, global macro economic environmen

chuck robbins also added our strategy is working. we believe we're well-positioned to capture growth. they made their acquisition in cybersecurity. they're setting up to get out of the hardware, more into the software because that has recurring revenue. that has subscriptions. that brings in revenue over and over again. last thing i tell you, morgan stanley talked about the hardware and talked about the older types of equipment and in fact there is cash on hand and they need a refresh. so that's good news for them as well. cisco up 2.9% just while i was talking. back to you. david: the stock is now up 3%. so nicole petallides talking up the stock there. >>> meanwhile they're talking up mexico now inside the beltway. looks like there may be a deal. this hour the mexican delegation is meeting with the u.s. trade rep in d.c. edward lawrence on the scene with the latest. are we close to a deal, edward? reporter: very close to a deal depending who you ask, very, very close to a deal. mexican economy minister walked in about six minutes ag

ceomberg spoke to the cisco chuck robbins following that report. >> we had a good quarter.ation we are bringing to our customers is being well received. we saw growth across all of our technology areas. this transition that we talked about, the business model work is continuing to take hold with hours description business continuing to grow. we have a lot of things happening around us right now. performance,t our we have clearly driven a significant amount of innovation in our portfolio. our teams have done an amazing job. we have a very strong global macroeconomic environment to operate in. we have some dynamics with the rising dollar. in thes some uncertainty emerging countries. we have the tray dynamic. we went to deal with those as they evolve. right now things feel pretty good. >> we what's talk about the transition in detail because it is clearly successful. you bring up the u.s. dollar. hedged?mething you have this atve gone through various times over the years. our teams know how to manage it. processes thatf our teams deployed when this begins to occur. out the oth

they are also forecasting first quarter sales to come in above expectations we'll hear more from chuck robbinsbe talking to our u.s. colleagues stateside at 3:10 p.m stick around "worldwide exchange" is coming up soon after this welcome to the xfinity store. thanks, janet. it's my happy place. you can learn how to switch to xfinity mobile, a new wireless network that saves you cash. and you can get 5 lines of talk and text included with your internet. and over here i'm having my birthday party. dj fluffernutter, hit it! ♪ dj fluffernutter simple. easy. awesome. ask how to get $300 back when you sign up for xfinity mobile, and purchase a new samsung phone. visit your local xfinity store today. >>> it is 5:00 a.m. in new york. here are your five big he headlines. stocks may rise, turkey tensions thawing a bit. >>> china announcing plans overnight to jump start trade talks with america we'll have more on that developing story. >>> uber out with numbers. the loss widened, but the company is growing and it is growing fast >>> twitter's ceo saying his platform has been "weaponized. more of his comme

we'll hear more from ceo chuck robbins. and highlights from the

kruk r kr chuck robbins will be on "squawk on the street. he's on the west coast, is that right?> it's early for him. >> it's early. i hear from him about things he watches he seems to like me. you know, i see him around, but he always goes on at 9:00 a.m. squawk is squawk have i got that right? >> are you questioning your -- >> no there's no "i" in team >> it's a broad squawk team. he's on squawk we appreciate he's on cnbc >> we do you're right you're right leave it there >>> shares of netapp are under pressure the cloud services company reporting better than expected results on demand for flash storage. >>> starboard has taken a 6% stake in symantec. the "wall street journal" reports that that company is seeking a board seat and says symantec needs operational changes to improve margins >> nbc ni bshgs krshgbc nightlyr lester holt sitting down with jack dorsey. >> i feel, you know, any suspension whether permanent or temporary makes someone think about actions and behaviors. >> do you think alex jones will change his behavior based on a time out >> i don't know. whether it work

cisco's important as sysco memo to chuck robbins besides the fact that your falcons are going to be beatou do have to be careful because everyone is confusing cisco and sysco. >> best performing down component. >> tomorrow cisco the networking company which is really a software company each time it reports and more of a cyber security company they've done a remarkable job. david wells, kelly kramer. well, she's retiring i've got to make sure. >> macy's cfo. i have to be sure about that because i respect her so much i don't want to say anything about someone -- yes, paula price now cfo. i do point out that i really think -- retiring next year. i really think that cisco could do well. the last quarter was not a blowout. dram prices are coming down. i know its flash memory is coming down. one look at western digital is telling you that micron wavering here even though it sells at the lowest multiple in the s&p even though the ne'er-do-wells, ford, but next time we speak to phil we have to ask. >> fell below 10 on friday as i recall. >> yeah. we have to ask phil because, remember, they didn'

coming up, chuck robbins at 9 a.m. on bloomberg tv.rd has taken a stake in semantic and wants to make changes. they have nominated five directors for the 11 person board. previous deals have done little to boost growth. deutsche bank cashing in on the turmoil in turkey. made $35n lender million in profit when the crisis led to a slump in assets across em. deutsche bank in the process of overhauling the fixed income business after years of underperformance. that is the bloomberg business flash. francine: thank you. we had breaking news earlier, moved pound a touch, sideways. retail sales in the u.k. rebounding for the month of july. this has to do with the warmer weather but also extended discounts at stores, encouraging shoppers to open their wallets. this is folded into the forecast. boe, what the pound will do and what brexit talks will bring. i spoke with the former u.k. conservative party leader, iain duncan smith and he was very clear. he believes wto rules would not be bad. markets,espect to the they have been forecasting incorre