back to you. >> all right, deirdre, thank you.us posted let's bring in in the meantime dan ives from wedbush securities and tasha keeny from ark invest. welcome to both of you dan, what's the post important number that wall street is going to watch in this report? >> this is really about bookings bookings came through stronger than expected. that's going to be the focus marginally better than expectations it's been a bumpy road since the ipo. it's an execution story. it's definitely a first step in the right direction for uber comes down to the call but the feather in the cap for dara and team so far >> what about profitability, dan, overall and the comparison between eats and ride sharing and which one's improving faster >> it's definitely ride sharing. and i think they talked about in terms of where they could get to profitability, it's going to be an uphill battle in terms of eats you see the pressure hair seeing from grub hub and others out there in the space that's really going to be the big question for investors can they ra

thank you for joining us on a busy day we're going to toss it back to deirdre bosa in the studio deirdrethank you very much for that and very interesting, guys you have to wonder if he keeps the bipartisan support rick santelli at the bond market, tracking the action at the cme. rick >> reporter: you know, everything is chicken and eggs down here in chicago today uber pricing right before noon eastern. every market that i followed down one on the day and you can see how it's deteriorating and right around the uber right. it was priced where we're starting to trade. do keep in mind, you see the spike where it started to move higher around the same time. now granted, treasury secretary mnuchin but looked to me like he gave it a push already well on its way and there's a lot of tweet bombs. kelly, back to you >> thank you very much >>> president trump says china is paying for the tariffs he slapped on imported goods. those are also being passed along to you to two reilxe tl nt ta ecselusexon "power lunch." what's a target date fund? 529 plan? a 10-k? what's an etf? an ipo? 401(k)? where do

deirdre, i have some questions. who is behind it?e interestingly, some alumni from amazon, jeff bezos's blue origin and from elon musk's spacex. these are a bunch of alum who said we can do better and are going to leave and build this. stuart: when will it be in service? deirdre: a demo that people can actually go on is in five years. they say probably closer to a ten-year rollout for if you are going to buy a ticket on it. stuart: it's not going to be operated by commercial airlines. deirdre: private for the moment. the claim is to beat concord by 15 minutes. stuart: big story developing here on tesla. elon musk focusing on cutting costs drastically. the company just burning through money. right now, you are down to $218 per share. what's the market saying about this? do you have any -- deirdre: people love elon musk, but you know, as far as being an operator and actually manufacturing cars, people, even the people who support him, say okay, he's a wonderful visionary, he's not the best executer. stuart: he's got a cash crunch. he's

deirdre: yes, they would.ds a lot more red tape. obviously this needs to be addressed in some way. not sure this is the most efficient way. stuart: what is equal work? ashley: right. deirdre: i think same title. companies have a way around that. they just don't give people the same title. stuart: isn't there a rule or law at the moment that says a lady does this, a man does that, and -- deirdre: the fair pay act. stuart: you have to pay them the same thing. deirdre: it was brought in under the obama administration. ashley: still not happening. stuart: they just want a thumb on the scale and have the government bureaucracy do it. that's my opinion. deirdre: i think it definitely involves more government supervision. you have to have people monitoring this whole kind of certification process. more red tape. stuart: we don't like that. listen to this. california's moving up its primary to super tuesday. looks like california will dominate the democrat party in 2020. that story's next. stuart: blue apron, the meal

deirdre: yes. yes.: okay. deirdre: can we deal with it. stuart: pretty good question. good stuff. thank you. >>> okay. we have been waiting for this. the ice cream man matthew mccarthy is with us. he is the ceo of ben & jerry's. you are far too young to be one of the founders. >> i only look young. ice cream helps keep me that way. stuart: i really do want to talk criminal justice reform with you. i will get to that. you know what's coming. i can't understand why anybody in business, where profit is a valid motive, would support bernie sanders and his socialism. can you give me 20 seconds to explain this? >> absolutely. first of all, i think the bigger point is that i think it's a total fallacy that american business shouldn't be engaged in its communities. i think actually to assume -- stuart: come on. >> seriously. stuart: why are you a socialist? >> we are not socialists at all. stuart: why do you back a socialist politician? >> we don't. we don't back any politician. stuart: i thought you backed ber

connell: deirdre bolton is in the newsroom. edward lawrence, kristina partsineveloss reporting on trade. gerri willis reporting on new york stock exchange. edward, start with you. what do you have? reporter: vice minister of foreign affairs calling what the u.s. is doing naked economic terrorism. commerce ministry is saying u.s. is trying to bully into a trade deal. he says china will not give in. hardening of tone coming from china, u.s. posturing, since u.s. trade representative robert lighthizer that china backtracked on almost every concession they agreed to. two federal reserve presidents says companies are heading back to capital investment how trade dispute plays out. ceo of walt disney says it will work itself out. >> so far we're seeing nothing. long term i might have concerns what happens with trade. i'm not losing slope over it. as i look ahead, think about things i should be worried about, things i should focus on, that would be one of them. reporter: chinese tariffs upping 5%, from some cases 10 to 25%. president t

let's go to deirdre bolton who has the details. deirdre? reporter: i got you melissa, let me give you the numbers, earnings beat. $1.61 exceeding expectations for $1.58. revenue there is a beat there. 14.92 billion. wall street looking for 14.36. i want to take you through some of the individual parts of revenue. the two parts that beat. media, actually and parks. so media, company these are sales figures, posting 5.73 billion. wall street looking for 5.53. if you look at parks, a beat in revenue as well, parks coming in at one -- excuse me, 6.17. the parks, estimation from wall street was for 6.01. one miss, the only revenue miss in all of this is studio entertainment. so disney saying studio entertainment, 2.13 billion. wall street looking for 2.35 billion. this will not be a shock to a lot of people who have been following the company, knowing of course that the company just recently completed this purchase, over $70 billion of fox entertainment. i'm certain over the earnings call they will talk about the movie mix. disney, will staggeri

deirdre: that's the point.ng a very long shadow. to ashley's point, both companies have high sales and no profits. so investors have already shown to be somewhat lukewarm in the reception of lyft. i don't know if that changes for uber. stuart: lyft is at 54. in a down market it's up a buck. ashley: interesting. stuart: it went out at $72, now it's $54 in three weeks. that's a decline. as you say, that casts a shadow over uber. what's their price tomorrow? $47, roughly? that's what they're thinking? ashley: $47, $48. deirdre: the only thing uber, i will say sort of as an advocate for that that's slightly different than lyft, they seem to have been better about building out businesses. uber eats has been particularly successful for them. they have tried to do a little more octopus approach, a few more arms and a few more businesses. that may serve them better tomorrow. stuart: we will bring you up to speed on what we're waiting for. left-hand side of the screen, waiting for the president. ashley: people standing

back to you. >> chris: deirdre bolton with very strong economic news, deirdre, thank you. venezuelan opposition leader is taking the effort to win over the nation's armed forces back to the street with a new push outside of military bases. human rights group say a 15-year-old boy is the latest to die in the unrest. that brings the death total to five this week. tonight, correspondent elson barbara is on venezuela's border with colombia where each day citizens flee the crisis in their once prosperous nation. elson? >> hi, chris. many cross on this bridge illegally every day. they go to colombia to gets then they cross and go back to venezuela. others cross illegally and do it over here in an area called las croces, the trenches. in order to cross the border, they must pay a fee to the maduro-controlling militia. today they started shooting. every venezuelan and colombian in this area ducked and ran for cover. around 12:19 p.m., local time. shots rang out over the bridge. it went on for 30 minutes. families, children, elderly people running, screaming, fearing for their live

deirdre is with us. rallying this whole green group. as we all know, really cold, really rainy, really nasty so they were forced to go inside and even mayor de blasio said okay, the whole tone of this event changed. essentially he was in the place where president trump initially announced that he would be running for president, kind of coming down the escalator so it's quite a juxtaposition. people were holding up signs saying worst mayor ever. there it is. he was trying to lead chants but the staff of trump tower kept just upping the music. you had tony bennett, "i've got you under my skin." you had a couple basically blasting him out. the mayor actually got hoarse trying to pull this off and even just admitted not our best effort. stuart: glad you brought it to our attention. deirdre: it was a circus. stuart: the signs tell a story. now this. everybody knows hostess, american icon, twinkies, ding-dongs. this year marks their 100th anniversary. birthday, you could say. we have with us no less than andy

deirdre: exactly right.what alexa has accumulated from his household. spaghetti requests, joking house guests, random snippets of "downton abbey" and a friend discussing a business deal in his living room and discussing medication. they say it's only activated if you say alexa and ask a question, but "the washington post" actually put a link and said if you are at all concerned about the data the machine has been collecting about you, you can go through and do what the reporter did, essentially get all your metadata from the past however many users you have had it and go through. he said he found at least a dozen examples where he specifically did not use the wake word, which is alexa, and that's when he discovered all of these kind of snippets about his home life. by the way, amazon uses the same line as facebook so i think every time we talk about privacy, this is a good thing to keep in mind, they say they are using the data to improve the product, not to sell anything. both of those companies use that li

apple announced that retail chief angela ahrendts would be replaced by deirdre o'brien.g tech's" mark gurman told us more. mark: she tried to turn apple stores into luxury emporiums rather than a place for shoppers. before, it used to be a place you could go when and grab a product off the shelf and go to a cashier and pay for it. that is simple retail 101. you were able to do customer service, go up to a dedicated place, a genius bar, and get it fixed. the problem is, both of those core things are much more difficult. the cash registers are gone. it is hard to know which employees are there to help, to check you out, to navigate you to people. getting things repaired is a lengthy process. times to wait for repairs are adding up. the genius bar experience is gone. now you have roaming geniuses. you have geniuses under trees in something called the genius grove. so apple stores are all over the place. it doesn't seem like apple has a vision for what the store should be anymore. under the new retail chief, deirdre o'brien, the hope is apple will start to go back to its roo

deirdre bolton out west. charlie gasparino is here in the studio as we continue with a lot of news on today's show. your news is on fannie and freddie. charlie's twitter followers know about it. >> that was a great interview. connell: yes it was that was fascinating things when you get bernie sanders and elizabeth warren rail about greedy ceos. yes, bob iger makes a lot of money. gets some of the biggest paychex in all of corporate america. he runs the huge company. he runs it pretty well. he returns so much value to shareholders who are not a bunch of fat cat rich guys in the hamptons. these are school teacher, pension funds, cops, firemen pension funds. he makes them. he deserves the money. connell: that is the whole debate. >> when you see the breadth of what this guy runs, you appreciate it. connell: abigail disney would take note. there is the freddie mac stock heading up today. it is five cents. intraday percentage wise that -- >> fannie went the opposite direction for some reason, i don't know. here is

deirdre bosa has more on the fallout. deirdre? >> reporter: contessa, this is not so much about huawei selling equipment in the u.s. because it only has a tiny share of the market to begin with this is more about the ability to source components from the u.s. to continue selling elsewhere and that has major ramifications for the chip makers huawei now the world's largest telecom equipment maker and the number two smartphone vendor it gets many parts from u.s. chip makers, so its ability or inability to source themhas ramifications for the chip makers and global supply chain qualcomm down more than 3% today and a final license agreement with the chinese company supply communication chips to huawei, they are down near 6% last we checked. the move, of course, could up the stakes in the trade war as kayla was outlining, a similar move against zte last year, nearly forced the company to shut down before the president intervened back to you. sorry, let me mention that way way much larger but it could disrupt the 5g networks around the w

deirdre bolton has been following all of this. what do we know?income inequality is really heating up and the granddaughter, as we saw on the screen, of roy disney is at the heart of this argument. she is testifying. we saw her there on capitol hill reiterating one of her key talking points. she says there is a point where there's just too much money around the top of the system for a class of people, i'm sorry this is so radical, have too much money. she says the pay gap between the company's top executives at disney, the median worker, is completely out of whack and of course, she feels her place, her grandfather and great uncle founded of course the disney entertainment company. she says she likes the ceo bob iger, that he's a good man, but she just says the level of executive pay has a corrosive effect on society. last month she made even more extreme comments to other news organizations saying jesus christ himself isn't worth 500 times median worker's pay. disney ceo bob iger receiving a compensation, here are the numbers, his package is wort

deirdre. >> kelly, that's right not only are shares still trading well below their ipo price but shortlers, they have piled in over the last week in the leadup to these results now, according to data from s3 partners short interest in uber has surged to $1.7 billion as of yesterday. and that's about 23% of its float. meanwhile, the bears have backed off of lyft a little bit short interest is at $1.2 billion. but it represents about 55% of its float. but basically, what this is telling you is that there's not a lot of faith in the ride-sharing sector. these two companies uber and lyft are now the most shorted stocks in the sector uber ceo and ceo have their work cut out for them they need to reassure investors while facing questions about the massive losses that uber continues to rack up and how if ever it will be profitable we'll also see how much the executive team is willing to disclose lyft stopped reporting gross bookings that's the amount collected before payouts to drivers, which is really a selling point during the ipo and a way of judging them in the longer term. so what uber d

deirdre bosa explains. >> uber is a classic, two-sided marketplace and it connects drivers to ridersts app and for each ride a portion goes to the driver and the rest goes to uber and since its inception, uber's costs have far outweighed the revenue it brings in. there's taxes and payment fees and insurance, driver and rider incentives and other operating costs. in 2018, uber actually lost $1.8 billion and the two years prior, it burned through nearly $5 billion. uber is also pouring money into expansion across the globe though it sold its rush a china st asia and businesses to cut costs in regions where they faced intense, local competition and it's investing in e bikes and scooters self-driving cars and even flying taxis. uber wants a piece of every passenger and public transportation globall and what calls a $5.7 trillion market opigrtunity. for ly business report" i'm deirdre bosa. >> kate spade gives tapestry investors a much-needed shot in ghe arm and that's where we begin tos market focus and tapestry did beat wall street estimatess sold more coach and kate spade handbag. the

deirdre, take it away. >> thanks.nks so much for being with us in san francisco this quarter you managed to beat expectations and even some key metrics like paid users but your shares have underperformed the broader market during that time since you've been a public company what is it the markets are missing or do you think perhaps they want you guys to move faster >> well, we've had a great first year as a public company and every quarter meeting or exceeding our expectations and we've had a great start to this year too. so we're really happy with our results. and as i told our team when we went public, our stock price will fluctuate for a while a little bit of volatility in the first year is totally normal we've had a great start to this year across the board. as you said, growing revenue by 22% year over year, over 13 million paying users now we're really excited about how we're doing. >> it was another good quarter but of course we're waiting to get that guidance on the call. but i want to talk to you, stay on thi

>> well, they kind of give a general direction, melissa deirdre's sound bite was spot on it was 4% based on that comment. if you want to call that guidance, that's about as close as they get and i just want to emphasize this point is it the critical question for lyft and uber investors is will this be a friendly duopoly or some aggressive competition that will drain their war chests and the commentary from uber today was much more in the friendly camp and while that's not guidance per se, i think it does change the near-term tone of how investors will think about this story. >> that's true, but when you're talking about the rivalry between lyft and uber, you're talking about 50% of uber's business, right? so you have 50% and that's not the u.s. ride sharing market how does that part of the business look? i mean, half of the business can become more rational while the other half of the business -- you know, could go to hell in a basket for all we know >> we're definitely not in the clear. we are far from that we are probably a couple of years away from really being in the clear here, and

deirdre bolton joins us from the newsroom.nticipated disney earnings calls in a long time. they've got a lot to talk about, the fox acquisition, star wars land and how does wall street prioritize those things. >> just off the bat i'm so glad you mentioned that film distribution schedule that disney did, because one analyst i spoke with said listen, this locks up disney's close to monopoly on hollywood for the next ten years. that is somebody who is neutral, by the way, on this stock. i did speak with rich greenfield, at btig media analyst. he said the most important today that we can hear is what disney's plans are for traditional media, so cable, broadcast, in the midst of trying to shift to basically media company direct to consumer, meaning putting all of its firepower into disney plus as well into hulu. that's what he's going to be looking for. but charles, you're right as far as overall market sentiment. this is such an important company, it's part of the dow and in the past eight quarters, charlie brady did all the math

deirdre bolton, she snuck in the gates.t and more importantly for our viewers, what it could mean to disney and the stock. reporter: well, as you well know, when disney invests it goes big and in these theme parks, that is no exception. you mentioned some of the stats. 14 acres, $1 billion. you also talked about cars land, a few other projects. attendance was up 23% the year that opened. as we know by revenue, this is the biggest part, the parks business is the biggest part of disney's empire. i want to introduce you to one of the pieces of merchandise. if you watched the last jedi you know very well what this character is. if you squeeze, there you go, he even talks. i don't know if my mic picked that up. what i will tell you is this is one of the pieces of merchandise that is available. when disney for example purchased lucas films seven years ago for $4 billion, this merchandise, the restaurants here where you can have your food cooked by droids and the rest was certainly part of the vision, in addition to the ride which

deirdre bolton.up on here to react to that, thomas delorenzo, loyola economics professor and hadley heath manning from the independent women's forum. tom, let me start with you, looking at situation, making the point, yes his pay 1400 times the median worker, but look at the shareholder value he created. how much of the jobs he created into transforming the company. how do you quantify he had the foresight to buy the "star wars" franchise which at the time people thought i was overpaying for? it has transformed this company. what do you think of this conversation? >> well, if he is increased the price of the stock from $24 to $134 he may well be underpaid for that. i think the fact that he makes a lot of money does not mean it comes out of the pocket the of the workers. mrs. disney said he was ad dicked to money or ceos are addicted to money. i should hope so because only way to get that money is to provide value to their customers and their consumers. the more the better. that creates more job secur

deirdre, i thought you could already do that. deirdre: yes.ady turned it off. google is not alone but google has so much data. we are often pretty tough on facebook but google has something like 2,000 hours of music versus facebook's 500. i'm just using that as a unit. google has a lot of information about you, about me, so senator hawley is saying instead of having a do not call list which we are all used to for phones, this is a do not track list. he's saying even when you have turned off your location, that that has to first of all be respected, then second of all, google cannot transfer any of your data even if it doesn't have your name or significant details, to any other company. those are the two changes he's hoping to make. stuart: just pecking around the edges. my theory is do not call doesn't work. i'm getting bombarded with calls. deirdre: right. well, it hasn't so far. that's why senator hawley is trying to give it some teeth. stuart: i understand it. just you are pecking at the edges because you have lost your privacy. it really h

deirdre bosa >> check out shares of wynn adding to big losses and we'll hear from the ceo when "fast" returns a little sweeter.ng to y ♪ to give every idea the perfect soundtrack. ♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪ i'm working for all the adventure two wheels can bring. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. here'sshow me making it. like. oh! i got one. the best of amy poehler. amy, maybe we could use the voice remote to search for something that you're not in. show me parks and rec. from netflix to prime video to live tv, xfinity lets you find your favorites with the emmy award-winning x1 voice remote. show me the best of amy poehler, again. this time around... now that's simple, easy, awesome. experience the entertainment you love on x1. access netflix, prime video, youtube and more, all with the sound of your voice. click, call or visit a store today. >>> welcome back to "fast money. i have an earnings alert contessa brewer has the latest. >> wynn resorts

deirdre, thanks.re all looking forward to seeing what uber does. >>> the dow coming off its worst day in five months, but rebounding sharply at least this hour take look the at names having the biggest impact on the dow's gains today. united tech, nike, walgreens, a lot more "squawk alley" still ahead. >>> market got a pop here as the white house spokeswoman sarah sanders told reporters the u.s. has received an indication from china they want to make a trade deal eamon javers in washington watching that. >> here's how this happened this morning. sarah sanders came over to talk to some reporters this morning i asked about the president's tweet this morning which he suggested that chinese side is coming to washington to make a deal i asked sarah sanders how the president knows that was there any communication with the chinese side here's what she said >> look, we've got an indication that they want to make a deal. our teams are in continued negotiations they're going to sit down tomorrow and we'll see w

i know what that looks like, deirdre. now to edward lawrence live at the white house with the latest on trade. edward. reporter: you heard the president will meet president xi xinping at the g20 in japan in june however no phone calls scheduled between the two. there has not been a phone call since the u.s. increased tariffs. now china trying to put pressure on the united states. the president says that he wants to protect intellectual property of companies and level the trade playing field in response to our tariff increase, china increased tariffs on $60 billion of u.s. imports starting on june 1st. what china did was hike the tariff up from 5% to 10%, 20% sometimes. in some cases 25%. >> i love the position we're in. there can be some retaliation but it can't be very, very substantial by comparison. out of the billions of dollars that we're taking in, a small portion of that will be going to our farmers. reporter: the president has said that the china's retaliated against the farmers there. boeing republicans and democ

deirdre walsh says nadler says he'll give ag barr maybe until mond monday. all of yesterday's hearing available on our website c-span.org. this is mandville, louisiana, craig on our republican line. >> caller: hi. good morning. i don't even know where to begin. first off, just looking at their smirks, they're all standing there just smirking. they just look angry. don't you just want to smack the smirks? they just look angry. i think they all probably need anger management for sure. so the guy wheels in a bucket of chicken. it just remind me of the alexandria ocasio-cortez, the getting drunk on instagram and the cooking of what was it instant macaroni. it's just these people since november 2016, these people have lost their minds. they all need to seek anger management, probably some kind of psychiatric help because we got this white house reserved for six years so they can continue to belittle, threaten, hope and pray our great president reenacted some liable laws. he needs to end the seine scens. bank accounts, ride sharing rides. >> from texas, leroy. >>

deirdre, my colleague and friend dan heninger being with me through this waiting period. type's up for me. we have seven seconds to go. we're waiting though. we'll wait out these seven seconds. three, two, neil, it yours. neil: thank you very, very much, stuart. we are waiting to hear from the president of the united states and 12 hours from now whether the tariffs we threatened go into effect. that is when they are supposed to go into effect. 25% tariffs, upwards $200 billion worth of goods. edward lawrence here to monitor where things stand. hey, edward. reporter: hey, neil. yeah the talks start late this afternoon. sources with the chinese say they're prepared to work through dinner related to this. that puts pressure on the timeline you talked about on raising the tariffs. if the chinese want to avoid raising those tariffs. treasury secretary steve mnuchin told me only way the chinese can avoid the tariffs going up if they put back the concessions they pulled out on the treatment and negotiate in good faith on the last 10% that is left. this setback on negotiations cl

let's get to deirdre, see if traders are overreacting.eed to also mention that since march, the russell 2000 and dow transports, both now below 3% at this hour. russell 2000, the small caps. we should also mention chip makers, they are getting hit in an outsized fashion. what are these names? micron, down 4%. nvidia down 6%. intel, world's largest chip maker, down 3.25%. qualcomm also down 2.5%. deirdre, as you look at all of these names, you do realize, i know your trader talk is probably circling and swirling around this, the sentiment around these technology stocks, because you can pick up chips and you can sell them. those are goods like what goldman was saying. >> exactly right. if you look at the nasdaq, you just went through some of the semiconductor names, this is as a group the biggest weight on the nasdaq. if you look at all 11 groups that comprise the s&p 500, the weakest one, technology. followed not surprisingly by industrials and consumer discretionary. consumer discretionary interesting, especially given some of the convers

deirdre bolton, our own deirdre bolton got a sneak-peek. she spoke to bob iger, disney's chief.hat in our next hour. >>> our next guest is michael buffer. i can't believe, wait for it, listen to this, he made $400 million from a very well-known phrase. the catch is, that phrase is trademarked. so we can't say it but he made $400 million by trademarking that phrase. that man did that. ashley: incredible. stuart: he is a guest on the show. coming up. wait for it. ♪ welcome to seattle. where people are into coffee, tech, and retirement planning. the perfect retirement for me is doing the things that i want to do, not the things i have to do. unlike seattle, less than half of americans participate in their employer retirement plans. so what keeps people more engaged in their retirement? i want to have the ability to easily transact online, great selection of funds, great advice, everything in one place. helping people in their working years and beyond. that's financial wellness. talk to your employer or start a plan at prudential. stuart: we're up 57 points for the dow industrials.

and lyft struggle as publicly traded companies another unicorn is trying to differentiate itself deirdre bosa on how they are saying to wall street, think differently about our losses and leslie picker is with me deirdre, let's start with you. >> urging investors to see its losses as, quote, investments. telling me that renting a work space is actually a proven business model and in that way trying to distance itself. critics might argue that proven business model is a stretch here wework has never seen a recession, they sublease office rents tend to fall and it's capital intensive this past quarter another $264 million. >> if i roughly do the math, losses are said to fall quite sharply for the year how important are the losses >> they're losing as much as they're making wall street doesn't like losses and they don't like losses where there's no end in sight. if the economy starts to tumble those losses could accelerate. so what happens when that changes? they use community adjusted -- >> in different parts of the country? >> it extracts marketing, general and administrative expenses, th

it's because uber inside of that building will make its big market debut there deirdre is on set.e story literally for years. okay there are so many store lines. good to see you. >> i can't believe the moment is here >> the moment is here. >> i'm glad i get to be right down at the new york stock exchange it feels like my baby is growing up in a way. >> it's all grown up okay if you had to write the headline on uber, what would the first headline be about today? >> "mad money," well, there are so many different angles i don't know where to start, right? >> they don't make money you had a great package yesterday. >> right yes. the company -- the biggest company to go public -- the most money losing company ever to go public, no company has lost as much money as uber at the time of when they go public, and history has shown that they don't necessarily fair very well in public markets. another angle, though, will be from -- this is a company with a lot of history it's been private for ten years. one of the all-time great -- i don't know, great not necessarily in a good way boardroom c

deirdre bolton at the new york stock exchange.er: you just said, the dow down at 700 points, after the drop at the open of 450. i want to bring you a different take on whether or not apple will get caught up in this u.s. and china trade tiff. we spoke with gene munster, an analyst, and he said we do not believe companies like apple will be caught in the crosshairs. he gives two key reasons, almost from both sides. he said when the u.s. places tariffs on incoming goods, it is looking to place tariffs on items or industries that compete with american ones. u.s. steel manufacturers obviously don't want competition or want to help them out a little bit. when you look at the context of the chinese manufacturers, gene munster's point is listen, you will see tariffs go to chinese steel producers before you will see going on some other products. also, he's saying he doesn't think that china will impose tariffs on companies such as apple because at the end of the day, china still wants that kind of manufacturing powerhouse on their turf, s

deirdre bolton sitting down with disney ceo bob iger before the big event. deirdre?, charles, you're exactly right. "star wars" galaxy's edge opens tomorrow. i got a sneak-peek. i rode on the millennium falcon behind me, fastest ship in the universe, as you know if you are a "star wars" fan. this is big business for disney. if you measure by revenue it is the biggest part of disney, that is to say the parks, attractions. when "cars" land opened up, that saw a 23% increase in park attendance that year. this is a huge investment by disney. 14-acres, one billion dollars. so when i sat down with the ceo of disney, bob iger, we spoke about that, of course. the business of the theme parks. we also spoke about the future of media. here is what he told me. as far as hitting on obviously the changing landscape with technology, how much more consolidation do you see coming, not necessarily for disney but among your peers? what does media look like five years from now? >> i think there will be channel consolidation. i don't know about combinations of companies. we've probably -

deirdre brought up a good point regarding cost.de low cost smartphones. >> cheap. >> cheap smartphones. more of what we do in our day to day life is relying on a smartphone. >> that's where the story is. they just make stuff cheaper. there's a lot of places that just want to use cheap equipment but the 5g point of course, i think that's really important to the president. he's been talking about that, like we have to be ahead with 5g, we have to be ahead with 5g which is another story why i think the trump administration may let qualcomm get away with a little bit of funny business, because qualcomm is actually also helping to build out american 5g infrastructure. i have heard president trump as we all have saying numerous times 5g is really important. >> right. but on the american side of it in terms of infrastructure buildup there's no alternative. european countries, it's nokia and erickson. this is a huge deal in terms of how the administration sees this. think about how much commentary and articles have been written over the la

susan: deirdre, thank you so much that will be interesting.ust wrapping up its first of ever town hall on capitalism versus socialism. our very own host charles payne, yes he hosted the special event, joins us right after this break. connell: that was some good stuff today. we'll talk to charles about that. the field is growing up to 23 with the mayor of new york city, bill de blasio jumping into the 2020 presidential race today. he is being welcomed with a fair amount of criticism, i think it is fair to say. bill mcgurn from "the wall street journal" will weigh in coming up in a few minutes. susan: to stay in, or go out. the battle between movie theaters and streaming services is going up. we're looking into great lengths that theaters are going to in order to lure in the customers. it might involve a martini or perhaps two. connell: wow. susan: two martinis. that comes your way. ♪ ♪ play it cool and escape heartburn fast with new tums chewy bites cooling sensation. ♪ tum tum tum tums (vo)with n♪w tums chewy i know what you're thinking. elect

deirdre joins us with the highlights >> reporter: you guys listed a few of their biggest investmentsefore the break but i'll repeat them here. there's door dash, airbnb, dropbox, pager duty, which just went public so i sat down with ceo michael siebl and asked him if companies are now waiting too long to go public in a system that is flush with private money. have a listen. >> i think that everyone has to make that decision for themselves i think there's been a lot of interest in this because people feel as though normal investors are not getting access to these companies. i just kind of question in this day and age when so much of the american population doesn't invest in stocks at all whether or not, like, these companies are actually impacting the, you know, everyday person, like the struggling american. i kind of think that that's a really somewhat of a false argument so i think this is -- the decision's up to the ceo and what's best -- if the government wants to make more companies do ipo, they should make the regulation more friendly >> now he also said that softbank's vision f

. >>> i'm deirdre bosa what's been a red hot year for ipos stumbled, driving markets down in the days of uber's ipo. one of the most anticipated in years turned into a major disappointment, declining 20% in its first few days lyft continued its downward trajectory as broader markets got nervous. share of other newly public unicorns have been far more immune, holding onto gains from their ipo prices pinterest hanging onto gains of more than 50%. beyond meat shrugged off jitters and has more than tripled from its ipo price. >> that was deirdre bosa, reporting on the trade war impact on the ipo market here's a question to all of our very smart viewers can a loss really be called an investment real estate firm we 3 wowork recording a $264 million loss last quarter, but investors are told they should look at those as investments last year, wework lost $1.9 billion the company filed confidentially for an ipo back in december. >>> all right, sticking with startups cnbc ranking the 50. we're up we're introducing you to these companies. let's meet lemonade, not the drink or beyonce album, this

apple announced that retail chief angela ahrendts would be replaced by deirdre o'brien.g tech's" mark gurman told us more. mark: she tried to turn apple stores into luxury emporiums rather than a place for shoppers. before, it used to be a place you could go when and grab a product off the shelf and go to a cashier and pay for it. that is simple retail 101. you were able to do customer service, go up to a dedicated place, a genius bar, and get it fixed. the problem is, both of those core things are much more difficult. the cash registers are gone. it is hard to know which employees are there to help, to check you out, to navigate you to people. getting things repaired is a lengthy process. times to wait for repairs are adding up. the genius bar experience is gone. now you have roaming geniuses. you have geniuses under trees in something called the genius grove. so apple stores are all over the place. it doesn't seem like apple has a vision for what the store should be anymore. under the new retail chief, deirdre o'brien, the hope is apple will start to go back to its roo

and let's go to deirdre bosa for the details. wework releasing first quarter financials and revenue more than doubled year over year to $728 million, but the company continues to burn through hundreds of millions of dollars. net losses were $264 million in the quarter, narrowing slightly from the same quarter last year in part to one-time items. last year, though, losses grew even faster than revenue totaling $1.9 billion and that, guys, is more than uber lost last year. chairman michael gross telling me on the phone that the company is in spending mode for its long-term growth and he also urged me to look at losses as investments because he said co working is a proven business model and guys that may hint at the narrative the company may sell to wall street as it heads toward the ipo trying to distance itself from other mono h money-losing unicorns since uber and lyft minson avoided a direct answer, but he believes the market will evaluate each company individually we'll see if that's the case back to you. >> all right, deirdre

guys >> okay, deirdre, thanks very much for that.ss jim cramer's exclusive interview with the ceo of workday that's tonight 6:00 p.m. eastern on "mad money. mike, what's your take on this one? it's been on a tear. >> a huge tear it has been the subsector of the market that's worked best, which is software as a service anything enterprise software, i think investors want to hide here just because it has a strong secular trend and i would say if it doesn't trade off on good news it's slightly surprising and probably a good sign because it shows you the people who are in it are not hot money looking for kark out on one number. >> just want to revisit the overall market and what happened today because it was sort of surprising to see the magnitude of that decline in the final hour a lot of people citing the bond market and the 9.2 negative basis points at the three-month and the 10-year inversion showed first happened in march. people kind of brushed it off. it doesn't always mean we're in recession. is that what gets wall street worried

deirdre, thank you. reporter: sure. melissa: treasury secretary steve mnuchin testifying on capitol hill today. why he says we have gone backwards when it comes to china trade. we are live in washington with the headlines. connell: plus how are farmers in the heartland dealing with the trade dispute? fox business put a survey out, asked hundreds of farmers what they think. we'll have results and reaction from senator john hoeven joins us later in the hour. melissa: hail, flash floods, tornadoes, a handful of states bracing for even more severe weather. we're tracking the path of the storm later this hour. ♪ metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. and i treat my mbc with everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor for postmenopausal women with hr+, her2- metastatic breast cancer, approved, with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai i

to uber set to report first results as a public company after the bell tonight deirdre bow is in sandara khosrowshahi's honeymoon might be over. >> there is going to be a lot to unpack but really this is the story about the size of uber's massive losses and when if ever the company can get to profitability. this past quarter those losses are expected to have accelerated to a billion or more dollars revenue meanwhile likely to continue to slow essentially more of the same trend that has not impressed public so far. that leaves dara khosrowshahi on the first earnings call. when he took over two years ago he was seen as more agreeable leader, consensus builder. he settled major legal battles now the honeymoon is over and some are questioning whether the company can still innovate and deliver on its long-term vision under him. now early uber adviser bradley tusk recently wrote an op-ed saying while he may have fixed optics, uber has lost its mojo under his tenure this quarter revenue is expected to have grown 20% year-over-year and just 5% from the previous quarter. so far, guys, public

deirdre bolton has been researching this for hours. she joins us now.ky ruling but it does matter to the world. reporter: it certainly does, if we look at the stock chart, you highlighted it, the worst in two years this is punch to the gut for qualcomm in this legal ruling. i want to go over the specifics. the federal judge said qualcomm unlawfully squeezed out rivals in the cell phone chip market and squeezed out royalties. here are the four key rulings according to the judge. we'll put them on the screen. qualcomm must do to have business in the future. must renegotiate deals with customers. must license patents to rival chip-makers at fair prices of the refrain signing exclusive supply agreement. that is where apple comes in. must be monitored for the next seven years to make sure the company is falling orders. qualcomm to be fair, we strongly disagree with the judge's conclusions, her interpretations of facts and application of the law. this has larger consequences. the soxx whole index is moving lower but also a question of qualcomm, you know this

deirdre bosa is live in san francisco with more.. >> hey, morgan alibaba did beat expectations this quarter, but revenue also represented the slowest pace of growth since early 2016. speaking of the trade talks, executive vice chairman brushing off trade tensions and saying that issues will be resolved as interests between china and the u.s. converge. have a listen. >> the trade talks put alibaba on the right side of all of the issues on the table. the vexing issues in the trade negotiations will resolve themselves as the chinese economy is already evolving to close the gap between the interests of the united states and china. this means in the future there will be bigger chinese domestic consumption, more foreign imports, continuing focus on enhanced i.p. protection and further dij tieization of industries driven by participation of the private sector >> this is an optimistic way of looking at the trade war and a point that many analysts and economists have made but as we know converging interests and economic dependence doesn't ne

back to you in new york. >> deirdre, thank you and our thanks to palmer luckey as well." straight ahead we're back after a quick break >>> flurry of headlines from the president a few moments ago, largely about the mueller investigation, which he says was a takedown attempt, adding, i don't do cover-ups, essentially it seems -- any hope with democrats over infrastructure or even drug pricing as he says he will not work on those until these investigations come to an end, adding that there's danger in the "i" word and by that, he means impeachment. market didn't react too violently to that but we're closer to the lows to the session than the highs let's get to rick santelli in the santelli exchange. >> just to add to that quickly as carl pointed out, losing a bit of ground in stocks and you know it seems like when stocks go down, interest rates pay close attention. when they stabilize or do better, not so much lately we dipped under 240. calibrating interest rates, you have the market, you have central banks. and most people's opinion that are affluent in markets, they thi

melissa: deirdre, thank you. connell: let's move on to tesla now. tesla as a company has been under a lot of pressure. electric carmaker looking to raise $2 billion in debt and equity amid heightened concerns what turns out to be dwindling cash reserves. let's get to gerri willis with more on tesla. reporter: connell, that's right. investors and analysts on wall street both like the news that tesla is looking to raise $2.3 billion in a stock and bond sale. the stock was higher by about 4%. 4.3%. the earnings this week were disappoints. people worried about it. worried about raising capital. the wedbush analyst called the move to raise money a good move. another company we're looking at, went public on nasdaq. ticker bynd. the b-shares just took off. they opened at 46. they closed at 65.75. that is 163% gain. the company has no earnings. thank you very much. it has market value of 3.5 billion. doesn't get better than that in the u.s. of a. melissa: seriously. reporter: i'm told their food is good. we had a secret source said the burgers are you a som

deirdre, thank you.>>> another amazon story for you right now. you remember long island city, right? it is actually we're told seeing a boom after amazon pulled out and didn't go forward with the headquarters plans in new york amid backlash from local activists. what is behind that? eric joins us a retail reporter. erica we wend out did the whole show from there. people were worried about jobs not coming. but then like any other self-respecting of the media we forgot it, never went back. you did. you followed up. you found a pretty good story. tell us about it. >> yeah i went to long island city i asked a couple real estate developers what is going on now. turns out that all glass city building that was set to be the first part of amazon's expanse into queens has already been grabbed up. almost half of it, one of the biggest tenants a big health care company from st. louis. we have to be clear, 25,000 jobs are not coming in one pop like they would with amazon. connell: exactly. that is a good point. not

. >> deirdre, what are you >> 4.83.a little competition here at the bureau yesterday. >> i'm worried a lot of good stuff to watch for this afternoon. >>> coming up, one store is literally hanging by a thread because of tariffs the ceo of joann fabrics stores joins me with some of the difficult decisions he's had to make to make things work. >>> a galaxy not so far away anaheim, california, has rssney's new $1 billion star wa themed park it opens its doors tomorrow. we'll take you there live straight ahead ta ke care of us. it was an instant savings and i should have changed a long time ago. we're the tenney's and we're usaa members for life. call usaa to start saving on insurance today. >>> welcome back to "the exchange" here are some of the movers this hours. shares of kraft heinz are falling again after a warning from credit suisse, lowering its price targets to $26 sanderson says a cold wetsprin in the u.s. has put upward pressure on prices that's helping the case there. we're still showing kraft heinz still down 3%.

now under the new retail chief, deirdre o'brien, the hope is that apple will start to go back to someots which had very successful stores. emily: and on the flipside the , online ordering experience has gotten a lot simpler. does this have anything to do with angela errant's departure? mark: that is a good question. it does not appear like she was fired or pushed out. my interpretation is she was wanting to leave. she gave actual good reasons, rationale for wanting to leave, spending more time with her family. of course she is from indiana originally, here in the united states, worked in burberry in london for many years before traveling to california. of course you would want to actually spend time with your family. it does not appear like they did everything they could to get her to stay. i think apple realized it was time to, you know shake things , up after 10 years of that strategy. you saw that toward the end of angela ahrendts' tenure. you saw them going back to that hard push of iphone sales and upgrades. i think you are going to see more of that as apple continues to reverse