the response is crowdstrike was not up to date and it says crowdstrike is only held to limits.includes how much limitation and damages it expected and how it plans to keep the customers after the outage. contessa? >> steve kovach and the bevy of reporters that we have here. let's talk more about crowd strikes earning report. with me, peter. peter, you have a price target here a that was lowered 325 from 350. you still have crowdstrike as an outperformer but you added it to your outperform lifts. explain how readers should read the guidance. >> sure. our call is it's a tactic call into the quarter, so directionally, you know, given the uncertainty with crowdstrike, trying to understand what the numbers look like over the next call it 12 to 18 months, we're taking a stance there's a better risk/reward opportunity depending on what they give us in terms of numbers. >> how important is the earnings report itself that indicates what happened in the quarter and how would you compare that report to the importance of the earnings call and what gets said in answer to analysts questions?

at crowdstrike. ..strike has committed to do better to check that updates when they are released don't contain problems, but the total cost of this global outage has been estimated to run into the billions of dollars. if lessons have been learned, they've certainly been learned the hard way. ok, so let's talk about some of those costs. and part of the reason this had such a big impact is because of the nature of crowdstrike customers. they include some of the biggest companies and government agencies in the world. in the us alone, amongst the fortune 500 biggest companies, excluding microsoft, the outage is reported to have cost nearly $5.5 billion. the banking and health care sector took the biggest hit, making up nearly 60% of the total, and it costjust six airlines in the fortune 500 around $860 million. all of that adds up to a sizeable bill, and just a small proportion will be covered by cyber insurance about ten to 20%, according to the insurers parametrics, who are behind all of this data. now, t

delta plan to sue crowdstrike and microsoft. why are you looking to buy crowdstrike here? been saying since monday that investors should be focusing on the yen carry trade and focusing on finding deals on companies they loved two weeks ago that are trading at a discount. you saw nvidia fell 14% at the open. tesla about 11% at the open. apple about 10% at the open. the focus for me is when we get to a place where we believe the worst of the news is out there, it's time to buy crowdstrike. if you loved it at 350, you should love it at 250. there is no follow-on headline from any other company saying, me, too. i feel comfortable this is about the floor for this crowdstrike saga. >> if it is the floor for the crowdstrike saga, what about the rest of the sector? is that also a buy? >> the cybersecurity sector in aggregate is a buy for me. i like that space more than b.u.g. for reasons we debated on the show before. i think the importance for investors to consider is cybersecurity is one of the sectors that regardless of whether we go into recession or not or regardless if compa

but crowdstrike has said it should not take all the blame.yber security company alleges the airline was hit hardest and longest because delta refused the on—site assistance they immediately offered. a letter from delta lawyers called crowdstrike�*s apology vastly inadequate. the war of words comes as delta and crowdstrike both face class—action lawsuits from airline passengers over the tech meltdown. a huge sum forjust a few days�* delays. paramount global has announced it will lay off around 2000 people, or 15%, of its us workforce. the cuts will begin in the coming weeks and conclude by the end of the year. paramount also announced a write—down of its cable channels mtv and nickelodeon by nearly $6 billion. the major restructuring is part of the company's plan to reduce costs ahead of its merger with skydance media. deliveroo reported its first—ever profit from january to june bouncing first—ever profit from january tojune bouncing back first—ever profit from january to june bouncing back from first—ever profit from january tojune bouncing

but crowdstrike has said it should not take all the blame. cyber security company alleges the airline was hit hardest and longest because delta refused on—site assistance they the on—site assistance they immediately offered. a letter the on—site assistance they immediately offered. lastlyer crowdstrike�*s apology lastly inadequate. the war of words comes as delta and crowdstrike both face class—action lawsuits from airline passengers over the tech meltdown. paramount global has announced it will lay off around 2000 people or 15% of its us workforce. the cuts will begin in the coming weeks and conclude by the end of the year. it also announced a write—down of nickelodeon by nearly $6 billion. the major restructuring is part of the company's plans to reduce costs ahead of its merger with sky dance media. a steady day on wall street after positive economic data. weeklyjobless claims came in below forecast which helps to allay concerns about the strength of the us labour market. we also heard from richmond fed president who said he is optimistic

since that date crowdstrike shares are down more than 20%.of questions here, what's happening next, including the fight with delta, which is asking microsoft and crowdstrike for $500 million in damages. microsoft is going to be hosting crowdstrike and some other cybersecurity firms at its headquarters on september 10th to figure out a plan forward. in the meantime, we're expecting the call after the earnings comes out to focus on how much the fallout is ultimately going to cost crowdstrike. we're going to hear from crowdstrike's ceo, george kurtz tomorrow night on "mad money." >> seema, you can take this wherever you want to. >> can you feel the excitement? we're about 20 minutes away from the biggest reporter of earnings, nvidia, and the broader chip sector trading down. two things we'll be looking for, a window into capex spend for 2025 and beyond, it was written that they are struggling to get overly bullish without guidance on how much the hyper-scalers plan to spend. plus an updated timeline on when nvidia expects blackwell to be shipped

ed: the ai earnings parade continues with salesforce and crowdstrike results also after the closing bell. >> a critical 24 hours for telegram, the ceos for day detention ends as a french judges pondering pressing charges. but first let's check in on the markets. we are under pressure down by 3/10 of 1% on the s&p 500 off by 9/10 of a percentage point on the nasdaq 100 why is that. it's because the market weightings of one particular company which is about 6% for the s&p 500 and about 8% for the nasdaq 100. >> we will hit nvidia hard. some news about super micro computer's as well. the three day chart. the stock is down 24% on track for its biggest drop at one point in session low they just drop since 2018. they are delaying the find and you're seeing financial disclosures when he four hours after short seller hindenburg issued a critical report and made numerous allegations which we will get to later in the program. with bloomberg's brady ford. nvidia is everything in the moment the stock is down 2% near session lows right now. we are worried about earnings because it impacts markets of

i was a crowdstrike gets a silver after this. (♪) (♪) (♪) (♪) it's time.eciding it's time to quit the kibble and feed their dogs fresh food from the farmer's dog. made by vets and delivered right to your door precisely portioned for your dog's needs. it's an idea whose time has come. ♪ ♪ ♪. neil: i know everyone is focused but crowdstrike earnings are coming out as well. first chance to see with the global outage has that affected microsoft all these financial houses. dollars to damage there. jeremy, on any other day with this be the biggie of the day that takes silver but this is an important number, isn't it? >> it really is. is been fastening to watch a delta and crowdstrike go back and forth with lawyer letters that tell us a little bit about what is happening here in terms of what money the low in the end. neil: i am wondering in their case, they said this is not all of them. i think they went back to delta saying it's all you it's not on us. delta was disproportionately affected. why weren't other airlines is damaged as you work? the recriminations b

the faulty crowdstrike update.fers to help delta were declined and crowdstrike questions, why were other airlines able to restore normal service faster than delta? meanwhile, microsoft is blaming delta's outdated i.t. infrastructure. delta had this to say about that accusation yesterday. i.t. is not their problem. they invest billions of dollars in i.t. capital expenditures but you can't ignore, stuart, that delta really was rocked by this outage. in fact plaintiffs in the class action point out that delta canceled more flights in just the five days following the outage than all the flights they canceled in 2018, and 2019. so, clearly, the lawsuits now are mounting. we're hearing from the consumers. the companies are threatening to sue each other. we have shareholders that are suing crowdstrike and pete buttigieg for what he's doing, investigating delta and how it's handling the consumer complains. stuart: you know whose the winners here? the lawyers. >> yes, always. stuart: it's always the same. >> that's why i we

let's say crowdstrike were to pay that amount.ing they are -- >> every penny of it. >> yes. it's still very -- i mean, still the stock is down. should it have been at $369 or whenever it is, but it's 240 now. so, i think this, too, shall pass. >>> all right. bitcoin surging 10%, topping the $60,000 mark in the last few minutes. it had been trading just below 50k on monday. so, six-month lows on monday. you're in eth minis. >> yeah, and the bitcoin minis. this is -- you nailed it the other night. this is -- it's not trading uncorrelated. it's core related to the overal market. it's also a 24-hour market. you can sell these and they're pretty liquid. i think we're going to get back to focusing on the undisciplinary nature of monetary policy. i think that will be a tailwind. i'm still long. i get longer every time it dips. >> coinbase was up a lot today. it was a standout, guy. >> and it's been trading almost in lock-step with what's going on. we didn't talk about it. gold hangs in there, like a champ. obviously had a big down day on

there's crowdstrike as well.ypically, we take a break now, but maybe we're just going to keep going. >> george kurtz, i think it was a monumental feat that had so little lost business, but he did then say, look, later on, we may have to have some incentives. but i think a lot of people felt that crowdstrike was going to lose a lot of business. it is not. >> and he's going to be joining you tonight on "mad money." >> got to get him on. >> okay. >> now, david, where do you want to mention dollar general? >> next, next. we're going to take the pulse of the consumer, jim. best buy, dollar general. >> well, the pulse is good. one place has no pulse and the other has hypertension. ♪♪ [inner monologue] in this gig... you get comfortable being uncomfortable. ♪♪ the enemy is always adapting... deepfake: hey handsome. ♪♪ [inner monologue] ...always iterating. ♪♪ the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g hom

george kurtz, founder and ceo of crowdstrike.nk you for being so forthcoming about this whole thing. >> thank you so much, jim. >> excellent. "mad money's" back after the break. >> announcer: coming up, putting the gpu to good u-s-e. ai applications in the real world. next. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> like i said at the top of the show, it finally happened. nvidia disappointed. well, not exactly. they blew away the analyst estimates. but the size of their upside surprise is decreasing. that and the delay of the new iteration of chips disappointed the traders, causing them to sell the stock today. it's still up 37% for the year but it's not as good as it was yesterday. now, all kinds of people coming out of the woodwork and not just knocking nvidia but they're claiming the whole ai theme is kaput. of course that's not how i see it. a

but crowdstrike has said it should not take all the blame.er security company alleges the airline was hit hardest and longest because delta refused the on—site assistance they immediately offered. a letter from delta lawyers called crowdstrike�*s apology vastly inadequate. the war of words comes as delta and crowdstrike both face class—action lawsuits from airline passengers over the tech meltdown. china's consumer prices rose by 0.5% during the month ofjuly — which also brings its annualised inflation to the same figure after a prolonged period of stagnant prices. the world's second—largest economy is facing an extended property crisis, steep local government debt, weak consumption and high unemployment. joining me now is li xing gan from exness, a business—to—business online trading platform. what are your takeaways as you have worked through the data from china?— have worked through the data from china? ., ~ i. . from china? thank you so much. with regard _ from china? thank you so much. with regard to _ from china? thank you so much. with

and crowdstrike's ceo will join jim cramer tomorrow on "mad money."up 7% since jay powell cemented a september rate cut, bank of america writing lower lates should help affirm. but you're not as positive as bank of america, and the stock is down 5% today. what do you say? >> this is a tough one. it's sort of like a fish growing up in a shrinking pond for the time being. they're growing revenue, making the right partnerships. they have struck a deal with apple pay that puts them in the right direction and moving towards profitability, up questionably. and they beat five out of the last five earnings. so they're on the right track, but there is going to be a headwind to what they can do. this is a buy now, pay later type of company in an environment where consumption is falling. so if you're enthusiastic about this, you have to be prepared for a slow period that could come in the first half of 2025, until rate cuts really start to take hold. because that's just the reality of being in a consumer play that requires consumption volume. >> all right. affir

crowdstrike, fantastic product, but probably not crowdstrike, fantastic product, but probabl— but probablyot core _ but probably not strategic. it's not core finance - but probably not strategic. i it's not core finance system. for that to be able to cause these implications is serious. i think with the lessons are, for businesses, you got to understand how technology fits within your operations. i think you have to be prepared, think through scenarios that that you have the prepared lands in place, and we have to test. i think it does talk to a whole of digital resilience in an interconnected world. that's fairly early days. leasing regulations are to come through. but it is fairly early days for a lot of organisations. days for a lot of oruanisations. ~ ., organisations. we have the world resilience _ organisations. we have the world resilience a - organisations. we have the world resilience a lot. - organisations. we have the| world resilience a lot. what does this mean? they weren't small companies. they might be forgiven for over overlooking this. these are huge organisations you woul

crowdstrike's faulty software update. the largest it outage in history. thousands of flights were grounded, hospitals disrupted and broadcasters knocked off the air as millions of devices running microsoft windows crashed but as the costs ratcheted up into the billions of dollars we ask whether it is the price we pay by being so reliant on digital infrastructure. i will discuss that and more with a cyber influence and all there and i will talk to the boss of a global cyber security film, ncc group. plus what does it all say about our readiness for the latest artificial intelligence breakthroughs? we will speak to one boss helping companies bring cutting—edge ai into the workplace. welcome to the programme. now, the great global it outage came not from cyber criminals but from a company trying to protect us from them. the previously inconspicuous crowdstrike became a household name overnight but for all the wrong reasons. we are but for all the wrong reasons. - are deeply sorry for the impact that we have caused to customers, to travellers, to anyone affec

and as a result, delta is pursuing legal action against crowdstrike as well as microsoft.eanwhile, there is an investigation into amazon's $4 billion investment into an a.i. firm. an amazon spokesperson said the company is disappointed with the news. the uk regulator now has about 40 days to decide whether this transaction to harm competition. therefore there could be a couple headaches here for amazon. let's see. >> sylvia, thank you. >>> the cdc has issued guidance for doctors on how to handle pain maintenance around iuds. this comes after women talking on social media about how painful it can be. one reported a pain score of 65 out of 100, while doctors rated their pain at 35. physicians are advised to offer options, including numbing medications and sedation, although they are not often offered. >>> still to come, just in time for season 50, our first look at the snl movie, and california here we come. how the golden state srsta may be ushering in the next olympics. and i use this. febreze has a microchip to control scent release so it smells first-day fresh for 50 day

crowdstrike denies this.ut the disruption caused, ran up costs into the billions of dollars. speaking to the bbc�*s ben thompson the boss of global cyber—security firm the ncc group called the incident a �*wake—up call�* for businesses. i think from this incident, one of the things we've learned is just how complex our supply chains are. and i think many businesses don't really understand that. so crowdstrike, as i say, fantastic product, but it's probably not a strategic solution within an organisation. it's not a core finance system. it's not a core hr system. so for that to be able to cause these sorts of implications is quite serious. so i think what the lessons are for businesses, for supply chains is actually you've got to understand how technology fits within your operations. i think you have to be prepared. think through scenarios so that you have the prepared plans in place. and we have to test. and i think it really does talk to a whole objective, which is about digital resilience in an interconnect

skrou crowdstrike is cutting guy dance.gize for the outage and talked a little bit about how they plan to make good, but still more questions that we expect from analysts, especially over the fight between delta and so many other customers, tyler. >> all right, steve, thank you very much. and let's go to the other steve, steve grasso, to trade it a little bit. what do you say? >> so, you know, this is usually not where i'm at with accountability on this type of an instance here, but mark me if i'm wrong, you follow this on a daily basis, i follow the stock, but has anyone gotten fired off of this? has there been any accountability? because this was a $15 billion global hit. >> yeah. >> and when you roll out something, usually do a little bit of a test pilot, when i was -- >> this was a buggy rollout. . >> when i was on the nyse, they would come in late, do the rollout, you don't do it with all the sectors, all the corporations that you're covers. i think it was such a buggy rollout that someone -- what's the accountability

crowdstrike says the narrative is misleading. microsoft says delta doesn't have the technology to withstand that kind of outage. we have an analyst coming up to look at delta and the sector. it is really a he said, she said sw situation. if this goes to court, you will know if they were microsoft or crowdstrike systems or other systems. crowdstrike had the problems over here, but delta had not just us in this group, but they had a daisy chain of other software over here. we may have helped knock that out, but most other airlines didn't have that problem because they did not have daisy chain or other technology and the like. delta says not so. we have to find out who is telling the truth. >> yesterday after the bell, in response to crowdstrike, we offered all this help and they supposedly had emails. it is interesting to see what is documented with the offers of help and the responses to the offers, if there were offers. i guess that is a lynchpin. >>> former president trump holding a press conference at the mar-a-lago residence w

and didn't get a response, david boies saying that they had lost confidence in crowdstrike. crowdstrike claiming it is only liable based under contract on single-digits based on the instrument. bo bois is saying it is potential negligence that could lead to more damages than the single digits. those are the high points there, scott. >> we appreciate the update, to be continued as the saga continues as well. steve novak, thank you. we are getting started on "closing bell." up next, tech trying to claw back some more of the losses in today's session. doing a good job of it, too. what could be in store for the sector in head. >>> lo toney back for where he thinks valuations could be headed from here. that's after the break. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. it's time to grow your business. create a website. how? godaddy. coding... nah. but all that writing... nope. ai, done, built. l

crowdstrike says this case lacks merit. >>> the wallets of the wealthiest people is lighter today. ten on the forbes list lost a combined of $73 billion. zuck mark zuckerberg is behind jeff bezos. you know, we don't really cry for jeff. he's got another $180 billion. i think he'll make do. i'm more worried about folks and their 401(k)s. >> bertha coombs, thank you very much. >>> turning back to your money. a key question for investors that fueled the wave of volatility around the health of the u.s. economy. bob pisani has more on the tug-of-war on where the economy is headed next. >> there is a tug-of-war in the markets now. recession or not. there are signs investors are playing both trades which signals confusion. the market opened at lows with the technology down 5% and consumer staples nats names arer flat. tech rallied and consumer names sold off. this is not a recession trade. who is right? we don't know. we need more data. today, we get caterpillar and uber. there will be a nice cross section of the industrial and consumer world to get a better beat on. here is the key point

so, what does crowdstrike do?eing responsible for what happened with all of the flights canceled, all of the cost impact on delta, crowdstrike calls that misleading. david, i think we're headed to ultimately what i think delta would like to avoid is actually having to sue microsoft and crowdstrike. but at this point, microsoft and crowdstrike have shot back saying, look, don't blame us because you couldn't manage the system well. we were offering our help immediately after this started. we have been in touch with you. and the fact that it took longer than expected time relative to other airlines to get back online, well, i mean, that -- it was a unique outage that took place here. i think ultimately, guys, we're headed toward a lawsuit because it doesn't seem like crowdstrike and microsoft want to pay up at this point. >> it doesn't. to your point, microsoft has added its voice as well. they have plenty of money to fight any lawsuit whatsoever. >> they do. they do. crowd strike a slightly different situation. they

. >> other stocks on the move include salesforce, crowdstrike, affirm and more.e break down the action and key numbers. >>> and openai reportedly secured a massive new round of funding and fresh triple-digit valuation to go along with it. this is thursday, august 29th, 2024. and you're watching "worldwide exchange" on cnbc. ♪ >>> good morning. thank you for being with us this morning, i'm contessa brewer in for frank holland. let's kick off the hour with a check on u.s. stock futures. the dow coming off its first down day in four. financials and health care sectors hitting all-time highs. influence see the dow, implied opening up almost 200 points, s&p in the green as well, nasdaq futures slightly off by 48 points. stocks holding up surprisingly well, considering the stock of the morning nvidia is down by more than 4%. 4.5% in the early morning trade. we'll have more on that in just a moment. and treasury, the yield is holding steady but at 6%. let's switch the boards and so you what the ten-year is doing, 3.86%. on the two-year, 8.22%. boil is 20 cents below $75

. >>> why crowdstrike is striking back against delta airlines. >>> and heartbreak and hope from the paris olympics from the world's fastest man looking to make hto.isry and also to the drama in gymnastics. i thought i was sleeping ok... but i was waking up so tired. then i tried new zzzquil sleep nasal strips. their four—point lift design opens my nose for maximum air flow. so, i breathe better. and we both sleep better. and stay married. skincare can start in the laundry room. that's why i always recommend all free clear for sensitive skin. it's free of dyes and perfumes. it's a key part of my self care routine. it's a clean that's gentle on my skin. for an effective clean that's gentle on skin, all you need is all free clear™ if you're frustrated with occasional bloating... [stomach noises] or gas... your body is giving you signs. it's time to try align. align probiotic was designed by gastroenterologists to help relieve your occasional digestive upsets. when you feel the signs, it's time to try align. >>> team usa came down from the heights of their historic weekend as a new week began

staying with tech, two weeks after crowdstrike sparked what's been described as the largest ever globalected computers are now back to normal, but the disruption ran up costs into billions of dollars. speaking to the bbc�*s ben thompson, the head of global cyber—security firm, the ncc group, called the incident a "wake—up call" for businesses. i think, from this incident, one of the things we have learned is just how complex our supply chains are, and i think many businesses don't really understand that. so, crowdstrike, as i say, fantastic product, but it is probably not a strategic solution within an organisation, it is not a core finance system, not a core hr system, so for that to be able to cause these sorts of implications is quite serious, so i think what the lessons are for businesses, for supply chains, is actually you have to understand how technology fits within your operations. i think you have to be prepared, think through the scenario, so that you have plans in place, and we have to test, and i think it really does talk to a whole objective, which is about digital resilien

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. >>> shares the crowdstrike moving lower. reports stronger than expected second quarter earnings of seven cents. crowdstrike cut revenue and earnings forecast after the subscription revenue would be hit for a total of $60 million for the duration of the year after incentives that the company is offering to customers following that i.t. outage. we'll have more on crowdstrike from the i.t. outage later this hour and shares off by 2%. >>> this is an interesting story, another valuation jumped for openai. cnbc reports that they're in talks to raise new funding. the new chatgpt valuedat $100 billion. up three times from a year ago. and investing a billion dollars in microsoft, openai's biggest backer is also participating in the round. hop openai and microsoft have not commented. they had seen some share sales by employees a few months ago at 110 billion, so, not entirely a surprise. but at some point, you had to figure this sort of nonprofit/profit structure is going to change, given the valuation and how much more money they're

>> crowdstrike is up. come on. george, he had -- we didn't even talk about it.lso feels like the delta gave them short shoplifter. >> delta's now in a feud with crowdstrike and microsoft. >> that's a smart position to take, not unlike elon musk being in a feud with all his advertisers. >> i'm suing all my advertisers. >> by the way, linda yaccarino joined in that little fracas. >> she did. >> having sold and taught selling in my life, i never wanted to sue any of my customers. >> you try not to. >> i always felt it was bad. >> he tweeted whatever, posted it, now, "this is war." >> he's starting to feel like biff. >> not from death of a salesman? >> right. he's biff. >> i was trying to figure out -- >> he's not, by the way, lee j. cobb. >> a number of people have done that role quite well. >> when you're biff, you're not -- you're like trying to steal pens and stuff. i am very, very upset when you sue an advertiser because -- because what happened is when you sue them, it often comes up when you're trying to close. i'd like to buy ads, but you're suing me. >> tha

crowdstrike is being sued by its shareholders, who allege that the company defrauded them by concealingit and could have caused the global outage earlier this month. in a class action suit, shareholders say the company's assurances about its technology were misleading. chief executive george kurtz though believes the case lacks merit and has vowed to — quote — defend the company. the global outage caused crowdstrike's share price to sink 32 percent over nearly two weeks, wiping out $25 billion in market value. let's get you an update from india and softbank backed all electric is looking to make its initial public offering on friday. there is buzz around the listing as this is the first electric vehicle company to go public in the world's third largest automobile market. —— 0la electric. here is our corresponded with more perspective. is our corresponded with more persoective-— perspective. the company is lookinu perspective. the company is looking to — perspective. the company is looking to raise _ perspective. the company is looking to raise 660- - perspective. the company is looking

the faulty software update from crowdstrike cause computer system failure in a variety of industries. most airlines recovered in a day or so, but it took delta many days. the carrier says the outage cost half a billion dollars and it plans to suit. crowdstrike says it responded swiftly to correct the issue and the delta rejected repeated offers too help restore its systems. has lost a major antitrust case over its search engine. a judge today ruled google's search engine has been illegally exploiting its dominance to squash competition and stifle innovation. the outcome could lead to google being required to dismantle parts of internet empire. this is just one of several suit schools facing. the company is expected to appeal the decision potentially all the way to the supreme court. >> coming up, we are following the latest developments in the middle east. how the pentagon is helping israel defend itself against iraq. z's baking the house special. arisa's styling a new look. and steve's filling his biggest order ever. with the first ever comcast business 5-year price lock guarantee, t

delta is now seeking damages from crowdstrike and microsoft.g up in our next half hour on abc, seven mornings, we're hearing from the pilot accused of trying to crash an airplane mid-flight. how he's raising mental health awareness while awaiting trial. plus, the murder case of cash app founder bob lee, who is not being called to the but do they really? do they see all that you are? at kaiser permanente all of us work together to care for all that is you. trump and rfk jr share the stage in battleground arizona. their message to voters as rfk throws his support behind the former president. good morning, everybody. thank you for joining us. this half hour. it sure is drizzly, rainy saturday morning out in minnesota. >> yeah, about a week apart from our other system. and this is not going to last. it will break through the sunshine will break through as early as the late morning hours. but there's a look at some lightning strikes, some heavier rain moving to the north and east of us. but we are left with some scattered showers moving throughout t

so crowdstrike is setting aside $60 million for that a power outage. 60 million.00 million. they're planning to sue. so is travelers and so have the customers, so 60 million is very low. in the end, call the quarter better than feared. stock's up 4%. sue stouter yeah, you can just cycle that out for a long time to come in court. keep them off your back, and when you finally get a number, the stock goes up. am i right or am i right? >> oh, no, you're right. [laughter] stuart: there you go. affirm, the buy now, pay later people -- lauren: whoa! stuart: 25%? lauren: they're still losing men. they dramatically narrowed their quarterly loss. i'll give you the numbers, they lost $45 million, that was down from $200 million. revenue way up, 48%, and they're targeting profitability at the end of next year. i think the bottom line here might be consumption is falling. we're buying less. maybe we're using bay now, pay -- buy now, pay later less, maybe more, but rates are coming down, so they're kind of in a sweet spot. stuart: what would ray wang care about a buy now, pay l

a faulty software update by crowdstrike cars.s to fail in a wide variety of industries. and for airlines of cars, thousands of flight delays or cancellations. most airlines recovered in about a day or so, but it to delta a lot longer. the carrier says the outage costed 500 million dollars and is planning now to sue. but crowdstrike says it responded swiftly to correct the issue. and the delta rejected repeated offers to help to restore its systems. now to the latest in women's gymnastics. spoiler alert, possibly as simon biles and suni lee hope to get more medals for team. usa reporter matt barnes joins us now with the latest from paris. how's it going out there >> hey, not bad at all. yeah. i hate to spoil this for you if you haven't heard but if you have an unfortunate ago, didn't have her best day. talk about simone biles. of course, simon hoping to end her olympics here in paris. the 2 more gold medals simply not to be in the balance beam event. final that what came first? she falls off the beam as the other team, a sunni lee

the ceo has been very vocal trying to capital on crowdstrike.t to stay away from the strike. >> nordstrom under some pressure ahead of its results. maintaining a hold as both consumer demand and nordstrom status as a public company are uncertain. what would you do with nordstrom? >> a buy. a different clientele. still 40% of its all-time highs. you look at macy's and dillards, they got cream crackered. different clientele, gives you the opportunity to buy nordstrom. consumer is still showing growth in that dem graph. >> thank you for the three trades very much. we'll see you soon. >>> that does it if r here on "the exchange." markets pulling back for the dow from the record highs from yesterday. we'll see you tomorrow. ash® card automatically adjusts to earn me more cash back in my top eligible category... suddenly life's feeling a little more automatic. like doors opening wherever i go... [sound of airplane overhead] even the ground is moving for me! y'all seeing this? wild! and i don't even have to activate anything. oooooohhh... automatic sas

delta has also threatened a lawsuit against microsoft and crowdstrike.s were back on the practice field today preparing for their preseason opener this saturday against the titans in tennessee. wide receiver brandon aiyuk was at the practice facility today, but did not take part in practice because of his contract dispute. the nfl network is now reporting a trade involving aiyuk has moved into the final stages. several teams are interested, and the niners have negotiated the framework of trades with the cleveland browns and the new england patriots. head coach kyle shanahan says he hopes the 40 niners can still reach an agreement with aiyuk. >> vector need this to be resolved pretty soon, >> no. i mean, you always want it to be badly, but this stuff does take time. and, you know, every day i hope it gets resolved, but i have no timetable on it. like didn't surprise me coming into this, going about coaching our team, getting him ready for week one, and hopefully he'll get resolved sooner than later. >> 49ers offensive tackle trent williams was still absen

and crowdstrike is hitting out at what it calls shady, efforts by rivals to share customers since a badoftware update caused an outage last month. attempt by competitors to use a disruption for their own products is misguided. they couldn't guarantee their own software would never caught a similar incident. crowdstrike has shared a quarter of its market value since the tech outage on july 18th, frank. >> pretty dramatic drop. silvana, great to see you, thank you very much. >>> moving on to an earnings report coming up later today, target reports just about an hour from now. walmart's report last week reported it's not falling off a cliff. investors are not expecting blowout numbers from targets who have been losing customers to values like walmart, target, and amazon. >>> thank you for being here this morning, especially in studio. always good to see you. >> thank you for having me. >> you're positive in the long term. in near term, you're neutral due to a bigger discretionary mix. i'm looking at the numbers. apparel, home furnishings and others. where do u you expect to see the weaknes

i think right now, you want to nibble in a crowdstrike.y is it the basket in the etf. >> short-term this week and long-term the second half? >> we will see a lot of volatility. a lot of great headlines for this election cycle. you have given us three today. by the end of the year, this is a secular bull market. i'll bullish on the direction where we go. once we get through that election, i think we're going to finish this year strong and the small caps will finally rally. i know i've been on the show saying. that i think this is a rally that's going to lift all boats. >> jay woods, thank you very much. i appreciate that. thank you for joining us this morning. let me send it over to "squawk box" right now. >>> good morning. we can still get earnings and we'll get an important one this morning. quarterly results from home improvement retailer lowe's are due any minute. we will bring you the reaction. >>> passing the torch. president biden rallying the crowd at the democratic national convention at almost midnight for his vice president kamal

time of need, crowdstrike and microsoft say delta refuse repeated offers for health and also did not >> it's it systems standby, standby. the family of one of the titan submersible implosion victims is seeking more than $50 million. now filing a wrongful death lawsuit suit against its operator oceangate's. they're accusing the company of gross negligence and claimed that the crews were aware that they were going to die before dying according to the lawsuit if the titan dropped weights about 90 minutes into its dive, indicating that the team had a boarded or attempted to abort the dive. experts cited in the lawsuit say they wouldn't if continued to descend though feeling and this is a quote from the lawsuit, the terror and mental anguish of their fate according to the filing, all five people on board died during that dive. you were trying to head to the titanic wreck site back in june of 2023 police body camera video shows really the desperate search for a missing five-year-old florida boy, boy with autism. the boy had left his home from a second story window, wandered off before his

delta has not commented on the crowdstrike letter. responsibility. you can argue that delta could have done other things differently. this cost them $500 million. mult iply that by the other airlines and companies that had other problems. if crowdstrike was responsible for the collective liability that this cost, all of its clients, that would be quite something. they are saying they have no liability, effectively. >> once again, both things can be true at the same time. delta would not have had trouble, once the problem started, did they muck it up further than anybody else? >> it sounds like they relied more on software that was controlled by crowdstrike, including personnel and where they were placed around the company. it was not just the planeplanes people getting to the right places. >> where is the cloud? >> it's up there or down there and there and there. >> is it -- it's on servers everywhere. >> it's in a server farm somewhere in the midwest. >> using a lot of fricking energy. >>> coming up, a rare winner among the carnage.

the us carrier says it is pursuing legal action against crowdstrike and microsoft.tomers for cancelled flights and providing compensation in the form of cash and skymiles, its loyalty rewards program. today, we found out the price tag. in a filing with regulators, the us carrier said those costs amounted to $380 million. for the current quarter, it spent an extra $170 million on hotels, meals and transportation to and from the airport for its customers, as well as other crew related

the us carrier says it is pursuing legal action against crowdstrike and microsoft.was reimbursing its customers for cancelled flights and providing compensation the form of cash and skymiles — it's loyalty rewards programme. today we found out the pricetag. the regulator said those costs amounted to $380 million for the current quarter. it's been

we don't want our clients to be exposed to something like crowdstrike which is down 40% in a month. i know it's fancy and sounds great to throw out names and pick them, unless you're deem on the inside, you don't know what's around the corner and crowdstrike is a great example why we likebroad based, more equal weight and not an overweight into mega caps. >> that is a good point. do you think the market broadly speaking is in a rotation, in a defensive tilt? looking at lockheed, i saw you were coming on today. i was reminded of your defense picks. that was last year. curious how that fits into what you think is going on in the market if it does. >> one of the reasons we like defense, graeat memory, you wan things that don't run in the same direction with, for example, mega cap tech and defense is going to run on its own and, unfortunately, there remains a need for this globally. defense etf would be doing a lot better if they didn't include boeing. if you take boeing out of the big defense sector etfs, the other main components such as a raytheon, this has been a good place to diver

the event next month will bring together microsoft engineers and vendors like crowdstrike to discuss how to prevent another incident caused by. well crowdstrike last month, a faulty update from the cybersecurity company caused millions of windows computers to crash. the outage forced airlines to ground flights, created 911 issues and problems at banks. the software giant says it is planning to share updates on the conversations after the event. an odd looking structure has recently gone up just outside the iconic castro theater in san francisco, and it has people talking not just because, as one business owner says, it looks like a gallows, but it's the reason it exists. nbc bay area's sérgio quintana gets to the bottom of it in more ways than one. people who walked by the castro theater today may not have noticed the wood and rope structure just outside the marquee, but the owner of the castro coffee company sure has. he talked with me by phone about it. when did they come out to put this? like suspension brace? just last week. last week? yeah. this is an ugly, ugly thing. it looks

>> yeah, listen, it was down 40% off its highs, so i think crowdstrike is another great name.n, you saw the reach from an enterprise perspective and all the clients and business they have. it is something we have been eyeing and looking at potentially adding into our cybersecurity portfolio. >> all right, we'll talk to you soon. that's jason snipe. >> up next, tracking the biggest movers as we head into the close. pippa stevens is back with us. >> as consumers look for value, unlimited pasta is back at one restaurant giving those shares a boost. all the details coming up next. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. next on the red carpet we have gina costa... looking simply stunning... with this season's hottest accessory. -[ cellphone vibr

we have the fox business alert, crowdstrike is striking back, the cybersecurity is in the green afterouple of weeks. it is up 1% after denying responsibility for thousands of delta flights cancellations last month after a massive outage saying the airline rejected its offers of help the outage was sparked by a botched software that affected millions of computers running the software delta said it was looking at a cost of over $500 million in lost revenue in the ceo said it would seek damages from crowdstrike and it hired top lawyer david boys and right now it's delta down 4% in crowdstrike says we offered help and you did not take it. a couple of stocks wedding investors amidst all of the red tyson foods up 2.5% that's a 52 week high after the meatpackers chicken business helped boost "the bottom line" in the black in the fiscal third quarter tyson reported 54 cents a share versus a loss of a dollar 18 a year ago shares have done well here today up 17%. investors hungry for kellan nova the snack food company in this venture we candy food maker mars. if the deal goes through it'll be o

crowdstrike says a faulty software update triggered a technology meltdown. it impacted computers around the world. the company says it will now give customers about $60 million in credits to remain with them. they also cut its guidance its earnings for about $86 million, its forecast in earnings this year. but they still expect to make about $4 billion in revenue this year. temporary setback for spacex launches after a fiery incident. faa investigators have grounded the company's falcon nine rockets after a booster rocket fell over and burst into flames. it happened yesterday after it landed off the florida coast. thankfully, no one was hurt. spacex says it's too early to know how much impact this will have on upcoming crew flights. before that incident, the rocket had blasted off from cape canaveral and placed 21 starlink internet satellites to orbit. a tornado knocked a train off of its tracks in north dakota. it happened last night near steele, north dakota. look at this. the tornado was one of five that spawned from a summer storm. the railway says it st

crowdstrike lowered its performance outlook an issue, downbeat guidance. one of the firm's clients. delta airlines was hit really hard. the airline estimates the outage cost about 500 million dollars. >> re imagining a san jose late push to clean up cunningham and the new federal funding getting thing started. plus, the sfpd is now using technology to bust burglars will take a look at some of their recent arrest. and if you're heading out for the holiday weekend, we have a few tips for a quick and >> happening today, it's the start of the busy holiday weekend as travelers head out of town for last summer getaway. squeak millions of americans are expected to hit the road or catch a flight starting today and kron four's. michael thomas has the story. >> labor day weekend is here. and as we know, it's the unofficial end of summer. tons of people are said to be traveling in san francisco is in the top 10 spaces that people are set to visit, meaning those tsa lines are going to be packed. aaa says domestic travel for labor day weekend is up by 9% this year compared to last and domestic t