emily: do we have any cross a vacation on how much disney -- quantification on how much disney couldnorth of a billion dollars when you think about the investment they will be making an original programming plus that they are getting from the netflix of the world today and other distributors. this is a major pivot for the walt disney company. it is all of bob iger's name. this is his legacy as he tries to pivot the company away from the traditional cable bundle which has been so good for disney. now pivoting to the streaming service. because i think the clear issue from bob iger's mind, he knows where his audience is going and he has to be a credible player. emily: a lot of excitement about this, but are you concerned disney could be cannibalizing itself? richard: being an arms dealer is a great business. the media industry has been an arms dealer forever. content studios that sold to movie theaters, hbo's, sold to netflix -- more buyers than ever before. trying to build a direct to consumer company -- disney does not know who the three of us are. they don't know what paul watches. t

disney will be one of those. it's not going to be a netflix killer it will be in conjunction with that, but i don't believe that the price point's going to work. >> really? i don't believe the five to eight will work. it will be ten and high are than that why? because of how much they have to spend to make it >> netflix already raised its prices, so i think they have some flexibility on that side. >> it is positive for them, but i still think we're stuck in that trading range i don't think that this is enough to break us out of that 120 and i wouldn't buy it until it does break out of the trading range. >> i still need prf that the content strategy will be wrong i would much rather be in netflix and it's a much better play when it comes to streaming. there's a lot of potential when it comes to disney and they do have a legacy library of content, but i'm just really concerned that the new content isn't going to overwhelm >> netflix right now is in the business, and it makes its content and disney has a library and

we'll start with disney. still up almost 9%.s are up following the unveiling of it's 699 streaming service on pace for the best day in a decade, the best week in over four years. favors sat down with disney chairman bob iger and we've been listening to sound all morning long. david joins us from l.a. with even more. hi, david. >> reporter: hi, carl. we've got even more for you. long investor day meeting in which they presented great deliverable content that will be part of the disney plus service and gave a lot of information in terms of their expectations when it comes to what it will all cost and what their hopes or for actually garnering subscribers, we call it great subspecitations, 60 to 90 million is what they're looking for by 2024 by the end of it for the disney plus service. espn plus which has been in the marketplace for a little less than a year and has 2 million subs, they see it between 8 and 12,000,040 to 60 million subs of hulu which is again around 25 million right now. disney, of course, controls 60% of hulu wit

didn't get a yum yum but i assume that would have been for disney. >> yum yum on disney, yum yum on disney yum yum for uber. >> thank you. >>> after the break why amazon could be the big winner amid the tech ipo rush and speaking of which, we do have another ipo here this morning, pager duty. we'll talk to the ceo in just a few minutes. the ipo priced at $24 last night. right now it's poised to begin trading some whe bwe 3reeten8 and 40. we'll bring you all those details. the united states postal service makes more e-commerce deliveries to homes than anyone else in the country. e-commerce deliveries to homes down two runs in the ebottom of the ninth. because there's always another game on deck. with mlb extra innings on xfinity x1, you'll get up to 90 out of market games per week with mlb.tv included. get all the body sacrificing catches, home plate heroics, and 6-4-3 double plays. plus, with x1 you can get every stat and every score all with the power of your voice. that's simple. easy. awesome. order mlb extra innings for a great low price and get mlb.tv included with your subscription.

disney plus launched on november 12th it will include contents from disney, marvel and pixar and thentire 30 years of the similar some we'll hear from iegger more tha once >> we did an interview with bob iger, really long. we sat down again and talked a bit more broadly of some of the issues we discuss so often here. one of the key issues being the idea, jim and i batted this around a number of time. if you are disney, have the ability to move from the business model that has worked well for you but no longer working as well to a new model you will have the opportunity because of the strength of your brand. will the new world, when it comes mature, have the same margin recharacteristics and profitability of the great world you are coming from, namely creating content carrying on cable network that you pay a great deal of money. i began on the broader idea of you are going from here because you have to. will this be as good this is what he had to say >> if you measure against the present, the present does not stay the present fairly long in today's world, it is changing so much. the m

morgan, disney, apple, chevr chevron. jp morgan chase kicking off bank earning season with their quarterly numbers. and ceo jamie diamond offering a dose of assurance. saying, quote, even amid some global geopolitical uncertainty, the u.s. economy continues to grow inflation is moderate, financial markets are healthy. do you agree with jamie diamond that everything is awesome >> absolutely. we've been telling our clients for some time that the growth and global growth is made up of the usa and emerging markets jamie echos what's happening in the u.s. this takes off the fears, the rhetoric that everyone is talking about about inversions, recessions, and getting back to business of high quality companies delivering high quality earnings. >> you know what they liked more than the comments? the numbers. up 4.5%. >> the consumer bank at j.p. morgan saved the day that's where the growth is trading wasn't great investment banking off to a slow start, no big deal in the meantime, consumer bank is on fire because consumer confiden

according to disney, their big focus tomorrow is the new streaming service, disney plus this one's moresure we want to know how much it will cost but really, want to see a demonstration that looks good and feels good. we've already heard some commentary from industry sources that this service is unlike anything we've ever seen this morning a piece was published talking about how they expect an impressive user interface along with the best line-up of library plus pay one movie brands ever made available in a streaming service i bet bob eiger can deliver but you need to understand that people already expect to be impressed. yes, we also want to hear about espn plus which launches roughly a year ago we know they already crossed 2 million subscribers in february but the big question here is whether the streaming service can offset the subscriber losses, if it's doing better than expected it's good news but it's difficult to make that comparison versus the old halcyon days how about the film business. one industry contact recently told us that with fox's production business, disney could hav

>> i've owned disney my whole life and to be honest it's jus a lifer kind of stock, but disney's finallye 21st century transition into streaming and they've done it a huge way by taking control o hulu and fox assets combined with all of the diey assets they produced i think the greatest app i've seen since netflix and at the price point that they started it's just like a must have for momilies across the so this is a hug in the right direction for disney and they have the best movie slate i've ever seen coming out and th ale movies will be on th app when it launches over the next year. , you know, it's really amazing product they've created so we're more bullish now and we're bullish on disney for th last period of time waited several years stock to move higher. it's a great, great time to be involved with disney. >> stickg with that theme an going globally we go to ten cent. so it is really e most interesting and dominant tech er plut of china which a lo of investments around the worl and they own lion gameand th company that owns fortnite and so they're well entrenched in the video gam

and sometimes that's elusive. >> reporter: disney theatrical productions which is owned by disney, theproductions in nine countries worldwide. what is it that makes a good stage play, a good stage musical? >> i wish i had an easy answer, because you search. but for example on "aladdin." the animated movie is absolute cinema. and the stage version is theate. but what they share is the source material. they share the extraordinary music behind it. >> reporter: the challenge is bringing these animated characters to life on stage. >> when i feel anxiety, i try to remind myself that everybody out there knows the words to the song because they love the song. >> reporter: and the ensemble of the tony-winning "lion king", groundbreaking for puppetry. the pressure in performing these songs that everybody knows, what's that pressure like? >> it's fortunate that we have people who are supporting us who make sure we are always ourselves within the character. because we cannot fit into a template of whatever person knows the character is. ♪ >> reporter: perhaps no disney character is as ron william

fact that it's disney.ny which has a 100 years have hit after hit the generation after generation and they have to innovate with technology at every step of the way. the question is whether they can innovate into the streaming market but the chief executive is called this the company's biggest priority and he is right, because disney must get this right they are going to be popular with other generations in future. india'sjet airways is in trouble — and is having to let down some of its passengers. sharanjit leyl is covering this for us in singapore. sharanjit, this was once india's biggest private airline but now it's struggling it was a popular outline but it's saying more of its planes have been grounded. it's pushing the airline potentiallyjeopardising hopes of a new investor regularly this —— rescuing the carrier. its fleet size is less than 20 planes from 120 for six months ago and they need a minimum of 20 planes to fly overseas as required by indian regulators. they have been forced to ground about

also big news from disney.'s get more on the latest streaming service unveil with frank holland. frank. >> good morning, brian you know, disney plus will launch on november 12th. it will cost $6.99 a month or $69.99 a year. that will make it less expensive than net flick it will cover five categories. disney, pixar, marvel, star wars, and national geographic. about bob iger talking about traditional television here's what he had to say. >> i don't think the consumer really wants to buy 150, 200 channels of programming for a fairly significant price when they're not interested in many of those channels, and in some cases they can't even find them. >> disney will likely bundle all three of its stream says services iger also saying he will plan to step down in 2021 when his contract expires we're going to hear much more from bob iger today at 9:00 a.m. eastern on squawk on the street. a lot to digest here disney shares also up about 3.5% this morning, brian. back to you. >> market likes it frank, thanks very much.

you've got to think there must be conversations going on between disney and nbc universal for disney to buy out the remaining 30%. >> julia, thank you. tim, which piece of the pie would you go to here at&t, disney, comcast? >> well, i mean, first of all -- again, in terms of stock picking, i like at&t here. i think at the oend the day they've got an interesting portfolio. people are concerned about the debt profile but we should love what they're doing in media some people think they overpaid for their assets i don't. >> now to a wild weekend for tesla ceo elon musk on twitter let's get to phil lebeau in chicago for the details. >> wow were you on twitter this weekend? if you were, you saw a lot of elon musk tweets they're about a wide range of subjects we will focus on two of them that are germane to the tus la business let's start with his ongoing description of where things stand between tesla and panasonic. remember, panasonic according to reports out of japan is freezing its investment in the gigafactory. pana cell lines at giga are approximately 24 giga watt hours per year no c

later, disney's streaming details. our own david faber about the big news we have that coming up later in the hour. >>> and the futures are on the move this morning. a lot of dow components with individual stories stay tuned you're watching "squawk box" on cnbc your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. >>> welcome back to "squawk box," everybody. we've been watching the futures this morning, and on this friday morning, they are indicated sharply higher in fact, dow futures have picked up since we started the program, now indicated up by over 175 points s&p futures up by 15 the nasdaq up by 36. and jpmorgan shares are giving the dow an additional boost after its results that came out that were better than expected they came out with their numbers, which were -- hold on, let me go back to my page -- 265 versus the 235 the street had been expecting revenue also better than

disney content.star wars movies, as well as all of projects.and marvel >> i think making them available on a new technology platform that is simply more modern and growing in popularity, at a price that makes sense, with a user interface that's beautiful, i think that's why we feel confident this is a product people are going to sign up in droves to have. reporter: you said you will likely bundle disney+ and hulu. when, and what will drive that decision? >> i think you can figure will bundle espn plus and disney+ fairly soon. i don't have an exact date. minoritytill have partners, and everything we do with hulu has to be done with them in mind, so bundling would be something we might take to the hulu board, but it would require the approval. we think there will be consumers that will want all three. even truly we want to make it possible for a consumer to buy all three. reporter: will you be attempting to buy all of hulu? guest: we'll see. we've been in conversation with partners about that possibili

disney plus is going to be a bargain.he new origination and you get the disney library i can't think of a family that has anybody under the age of 18 as a member of the household that wouldn't seriously consider subscribing to it. it's that simple. >> julia, it raises the question of how expensive this game is going to be, to get that original content and how much competition there's going to be for the actors and the writers and how that's going to upend the industry. >> all of these different services, whether it's disney plus with the new original content or apple plus or netflix, they're all competing, not just for subscribers but also for content creators. we've seen netflix make huge high profile deals paying hundreds of millions of dollars to people like shonda rhimes and ryan murphy. as we see these particular runners get snapped up, there's not as many people out there as there used to be to create original content disney has the advantage of its brand. netflix locked in big name content creators in general there

emily: i sat down with bob iger, the ceo of disney, when they unveiled disney plus, and he talked aboutthinks the details of this service will be competition for netflix and the rest. take a listen. on aking them available new technology platform, a technology platform that is simply more modern and i think growing in popularity, at a price that makes sense with a user interface that is beautiful -- that's why we feel confident. emily: he's talking about the entire disney vault, animated classics going back decades as well as new original content. andre, do you think customers will pay for that and netflix? andre: i think people like me who don't even look at their bill can when it comes to that, but there's a lot of americans who can't afford that and will prioritize. if we look at this as just common sense, what business industry, could you lose your best-selling product or most voluble products to the business right next to you and they undercut your price and it doesn't impact you? the other thing a lot of people are not realizing, the real growth of connected tv over the last when

>> yeah, i think it is a couple of points here let's talk about disney for a second number one, disney margin represent incremental competition for netflix. however, we also think that disney is going to spark more cord cutting, number one number two, it is not a perfect alternative to netflix disney is predominantly family generated content, family-based content. look at netflix, it is much, much broader-based and then point number three here is a lot of this consternation is already reflected in netflix stock. we have seen it pulled back in recent weeks, leading up to the report here. so, look, it will be incremental competition at the margin, butting manageable for netflix. >> matthew, if i could follow up on that. you think about all the streaming services available, not just disney, but warner, for example, and others, and no longer having licensing agreements potentially with netflix, so they're going to be solely reliant to a large extent on just developing their own programminging are there costs that are going to continue to go up for years and years to come and are they going

for disney plus, that's worldwide. a third of that in the u.s. but the fact that the whole simple sons catalog is in there makes me wonder if they just expanded the total addressable market beyond just families with kids >> you know, i think with that number, kelly, potentially conservative netflix took 8 or 10 years to get to that number and wasn't even like 3 years ago netflix completed the global launch but disney with a more systemic much faster international rollout which makes us to believe that for them to get to that number globally would be a lot faster so to your point, i think the content layout that we saw yesterday, you know, to be honest with you, i think it's really mind blowing here and they're going to add to that that price point is aggressive and the value proposition is unquestionably come ppelling wih the price inflexibility. >> maybe we're being too conservative, the thing netflix didn't have was the full rollout but disney has that in place or at least has the system that netflix currently has, plus it has the 5g which is g

where do you see disney in 5-10 years? do you see disney as a technology company? have always seen disney as a technology company, going day.he way back to walt's technology is important for two things. one is to use it to make our product editor. what it did to backgrounds and 2-d animated films. it also improves the experience of the consumer. i think in five years you will see disney, basically, at its core, being a content company, a storytelling company that is using technology more to do all of the above. the product better, make the experience better and make it more accessible on more modern platforms. emily: that was bob iger, ceo of disney. coming up, it is one of the biggest tech ipos in years. we will bring you new details on uber's plans to go public, and if it will usher in a wave of massive listings. check us out on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ biggest ipo the this year. cooper has officially filed for its public offering. offering new details on the company's operations in this paperwork. we ha

but disney's entering a very crowded market.k is of course netflix — with 139 million subscribers around the world. it spends big on content in a bid to attract viewers — it's thought more than $12 billion last year alone. the e—commerce giant amazon has more than 100—million prime subscribers. it says video has been a key driver of growth — but it's thought to spend less on content than netflix. and apple has been spending up big on content and stars — including oprah winfrey — as it gets ready to launch its own streaming service. dave lee is our north america technology reporter and attended the unveiling of disney's plans in los angeles. this is a big launch for disney because it is something that has beenin because it is something that has been in the works for several years. they would have wanted to launch it sooner, they would have wanted to launch it sooner, you presume, they would have wanted to launch it sooner, you presume, but because of content deals they had in place with the likes of netflix and other streaming se

how much is disney plus going to cost. disney has always intimated that it's going to be less than netflix which for the most popular membership is $13.99 per month. that gives you two log-ins, streaming simultaneously. we will see what disney will offer our viewers. you can see the price per month for amazon prime, netflix and hulu all side by side. this moment is, you know, 20 months in the making. some people even saying you could accuse disney of teasing the press and consumers and investors, but we also have to think okay, let's give them a break, they did of course purchase the fox entertainment asset, that just closed in march. we have heard the ceo, bob iger, say disney plus' launch is the singular focal point, most important for the company this year. the other big question many investors want to hear about is how is this content going to appear and when, so when a new movie comes out, just say lucas films "star wars" franfranchise does it go into theaters first, does it happen simultaneously as it happens on netf

on disney's big bet streaming current disney disney the details of plus, to rival netflix, but will consumerscome to "surveillance."

this film, but could also benefit disney plus, and the disney service launching in november becausevel and all of the characters in avengers endgame will be featured heavily on that service. guys, back to you. >> disney shares soaring to an all-time high just this month as it unveiled details and the halo effect from all of this positive, the reviews et cetera, around avengers would be very different. >> it is not just about the studios and for five yearsthe stock has been trading between 190 and 120 waiting for this strategy to emerge and since the disney plus announcement the stock is up 20% in a straight line and the company will report earnings on may may eighth, and they'll incur a lot of losses to do this. i think it's all great and you'll buy this on pullbacks. >> buy the rumor and sell the news and the most obvious example of that is the big movie release that's about to in out you look, the stock's gained $16 billion of market cap in the last five days, maybe? six days to me this is another classic buy the movie, sell the news. >> 22 times, that's a staggering multiple on d

where do you see disney in five to 10 years? do you see disney as more of a technology company? bob: we have always seen disney as a technology company going all the way back. technology was incredibly important to do two things. one is to use it to make the product better, this camera and what we did to the backgrounds in 2-d animation films. also to improve the experience of the consumer. in five years, i think you will see disney, at its core, being a content company, a storytelling company that is using technology to do all of the above. make the product better, make the experience better, make it more accessible and more relevant. in other words, distributed in more modern ways. emily: that was bob iger, ceo of disney. coming up, it is one of the biggest tech ipo's in years. we will bring you new details on uber's plan to go public and if it will usher in a massive wave of listings. and if you like bloomberg news, check us out on the radio and in the u.s. on sirius xm. this is bloomberg. ♪ emily: it is the biggest ipo this year. uber has officially filed, offering new detai

analysts are bullish that disney will be able touickly grow its subscriber base. disney already has direct t with millions of consumers around the world every year, thanksme to its t parks and consumer products. >> given there's a great fan we target there's 50 million homes we view as the low horging fruithe company, these are households that have already engaged with starwars, marvel and pixar. >> another analysts are equally optimistic. disney is the only traditionala meompany with a scale, and brand recognition to join netflix and amazon as the leader in the marketplace for video. ho fast the app growson depends ts price and the must have appeal of the app's cont >>> sony may be the target of an activist investor. that's where we begin tonight's market focus daniel lobe's h fged is directing a third point -- sony's movie studio could be a takeover t wells fargo's next ceo should not come from wall street or from inside the bank. that is according to berkshire ho isway's warren buffett also wells fargo's biggest individual shareholder. thehares add a dime to 48

disney has a potential advantage. bob iger said they are going to plus,disney plus, espn ulu as a package. you will not only get shows like handmaids tale, but you could have delayed shows like modern family or other tv series. caroline: fascinating perspective. i don't know how we are all going to fit it in. thank you for joining us. with disneysat down chairman and ceo bob iger right after thursday's announcement. take a listen. >> i think making them available on a new technology platform that is more modern and growing in popularity at a price that makes sense for the user, that is why we feel confident this is a product people are going to sign up in droves to have. emily: you said you will likely bundle disney plus, espn plus, and hulu. what will drive that decision? >> you configure we will bund le disney plus and espn plus fairly soon. we still have minority partners, and everything has to be done with them in mind. bundling would be something we might take to the management or the board. consumershere will be

they have great content and great brands which is a huge assess to disney between disney, marvel, pixar, star are war, national geographic, the original content, it is tv shows and movies, and then they surprised us with the announcement that they will have the exclusive rights for all 30 seasons of the simpsons, so if you think about that broad demographic appeal, family, kid, boy, it is across the woboard. the affordable price and very easy user interface on all devices really, it seems like a great service like a great potential. but the important thing for disney, in this analyst meeting yesterday, was to show wall street that their basic base and then the direct and consumer business where they will invest a lot of money and in our view this was mission accomplished >> and you have taken down estimates a little bit for the near years i like how you say you are glad to do that because of the investment in this service would be questi one question though it looks like they will be nowhere near netflix going out several years. can disney succeed with spending 20% of netflix content bu

disney this is their strong suit.able to get the lion share of the children and families and at the price they put it at seven dollars a month is ridiculously low. the nice thing is disney also owns a 60% share of who lou and also espn plus. there is a likelihood we will see packages with all three services which is just going to be amazing. >>> let's get back to contin. what do you expect the content on this new disney platform to look like?>> it will be huge. not only the normal library of disney movies and shows. they are also announcing new content. let's say you are a marble fan. you can only see some content for the new marvel show called one division which is taking the characters from the avengers. they are creating a low-key tv series. a series around the falcon and the winter soldier. if you are a marble fan this will be the only way to get the content. they will have original star wars contin. almost all of the pixar movies. 18 out of 21 movies. all of the disney channel shows 5000+ episodes. some fox conte

so if you're netflix, do you want to face an entirely disney owned hulu or a disney plus comcast hulu> i think that we don't think about the netflix versus hulu battle as zero sum. this is a war on the cable companies. a hulu bundled package is just going to provide an awesome new channel for people to subvibe to. the amount of value you're getting, that's a steal relative to what cable providers are charging you today. i think that's going to create a second channel that people subscribe to. >> i guess i'm asking, decisive action from one owner or huge content library potentially from two, which is more potent do you think? >> a comcast plus disney combination is definitely a more formidable competitor against netflix. you want as much as fragmentation as possible. that makes netflix's negotiating power that much stronger and it cost them less. the big debate with netflix right now is their content expense and how much money they're spending on content. if they can push those expenses down, they can crank their profits up and that's better for netflix. in the long run, we think users

also on the show busying heights for disney stock after it unveils its new streaming service. and it's game on for a young african takis are turning augmented reality games into a way of addressing persistent problems. welcome to the w business i'm john album a lot and in berlin thanks for joining us it's the first african start up to list on a major global exchange online retailer jumeirah how to its first trading day today it shows new york to raise one hundred ninety six million dollars selling its shares in the middle of it set marketing range besides raising money the firm is also looking at raising its profile and boosting growth now and juno's potential is huge a market is developing across africa off faster and larger than any than in many other parts of the world when juno was founded in two thousand and twelve it was launched in the continent's four biggest countries morocco egypt south africa and nigeria now it's active in fourteen nations for third not the only game in town and africa's logistical challenges are immense. clothing has hold goods mobile phones t.v.'s

nick: that is an obstacle for disney to overcome. the competitive landscape, i think what i would characterize as overspend, they are spending forward for the consumer base they will have come up and -- they will have, as well as spending to build brands and contents that do not exist. so disney has a competitive milestone to overcome in terms of data collection to help inform what they should produce, will content they should be buying, and what brands they should be building to remain competitive. emily: but do you likewise think netflix can keep up? their hit shows, like "stranger things," they are not as big as "game of thrones." netbooks is making almost too much. nick: i think of it like a hit and non-hit ratio. netflix does not have to have everything do really well, because they are rapidly expanding, they are getting global subscribers, so they have some leeway right now. but one of the biggest things that will define their success is making the ratio improve so more shows are hits, are brand building. one thing to consider

for disney this is lot more layered. will disney put movies in theaters first?they go to the theater first then go to disney plus, go to disney plus right away? that is huge question investors will listen for. same with tv content. all the content, does it pass through hulu or espn and then go to disney plus? so we'll be listening for details about that. it is unclear at this particular moment how the decisions are going to be made and by whom. so big ears for that. pricing, this is the other huge x-factor. in the past disney has indicated it would price its service less than the price of netflix. it will have less volume. go over pricing some of the viewers see on the screen. netflix most popular subscription $13 a month. get two different log-ins simultaneously streaming. amazon prime, 12.99 a month. disney obviously still tbd, but subscription fa seeing is real. deloitte put out the study earlier people thought the whole viewing streaming process was going to get easier but a lot of people have netflix and amazon and maybe another channel like hbo. so the que

disney ready to unveil the grand plan to take on netflix. what's at stake. >>> marijuana in america the battle over vaping and e-cigarettes former fda chief scott gottlieb will join us live and esg, three little letters getting a lot of attention on wall street why you need to know about this and how it's going to impact your portfolio "power lunch" starts right now >> welcome to "power lunch." i'm tyler mathisen i hope you have a good day stocks though, not under pressure this hour, despite renewed optimism over those trade talks with china headlines from europe about negative interest rates fueling the declines, as you see, but the declines are very modest lyft, however, is rebounding following a steep sell-off but the stocks way below its ipo price of $72 a share now at $61 but remember the first day of trading it was up there in the upper 80s, kelly. >> wow, tyler, thanks a lot. >>> fed heads weighing in on the trade debate and president trump's top economic adviser larry kudlow might not see another rate hike in his lifetime let's get t

where do you see disney in 5 to 10 years? do you see disney as more of a technology company? >> we've always seen disney as a technology company. technology was incredibly important to do two things. one, to make our product better, the multi-plane camera and what it did to background and what it did to 2d films. but also to improve the experience of the consumer. i think in five years, you will see disney basically being a content company that is using technology more and more to do all of the above, make the product better, make the experience better, make it more accessible. in other words, distribute it in more modern ways. caroline: that was disney chairman and ceo bob iger. coming up, leaving the window wide open, uber finally files to go public. we break down what the company will look like in the public market. and if you like bloomberg news, check us out on the radio. you can listen on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ caroline: uber has taken one step closer to hitting the public market. on thursday, the company rev

disney was the first stock i ever bought. own espn >> in a good way or a bad way. >> is the hulu subscription an extra boost? >> i think it's the core product. if they bundle it together, they're probably still working that through if we bundle it together, but on its own the core is quite attractive both on the top and bottom lines. jamie dimon issued some bullish commentary saying the u.s. economic expansion could go on for years. wells fargo, though, gave up its early gains after cfo shrewsberry said he expected weaker profits in 2019 than the street had expected. briefly under threat during the wells fargo call focus more on pnc and jpmorgan was this yield curve question mark isn't going to damage the outlook for the rest of the year there still is a question to make sure the other banks next week go in line with pnc and jpmorgan >> well, i thought the nim was a positive surprise. a great job on the call today. fine, the yield curve is flattening you're almost -- i thought of those comments and almost said it's like goldi

joe: forgetting whether disney plus is a netflix killer, will disney plus be a success in its own righter: if you are a parent, and you haven't subscribed in the next six months to disney plus, your kids will beat you over the head. it will be a huge success. i think bob iger is a little light. he says by 2024 he will have at least 50 million paying subscribers. i think that is light. it could be double that. caroline: this is becoming such a mes. -- mess. i feel so torn over whether i want to spend seven dollars in one direction, or -- porter: but remember how much you are paying the cable company. caroline: precisely, but eventually we will end up with a cable company. we had t-mobile basically offering a new one. porter: bruce springsteen said it right, about 20 years ago. 167 networks and nothing on. that's the problem. cable will lose the content, all going over the top and streaming, so there will be almost nobody but the five basic linear networks who can survive, and they will soon go over the top as well. romaine: what happens to hulu now? porter: that's a good question. my sen

disney is surging to record highs. investors cheered disney plus.flix lost as much as $8 billion in market value on the news. the disney platform was unveiled late thursday and ceo bob iger told bloomberg why he has high hopes. >> making them available on a new technology platform, a platform that is more modern and growing in popularity, at a price that makes sense for the user, that is why we feel confident. joe: for more on this, i want to bring in bloomberg anousha sakoui. following the announcement, disney revealing the trailer for a new star wars movie. i've never seen them, but i think it is a popular kids series. is this a big deal for the company? >> it is of the deal. it is a big deal for most of hollywood. even if you are not disney. so many exhibition chains rely on it. it is definitely a big deal for disney. in terms of where it goes from here, the last one of the trilogy, it has broken so many records and billions and billions of dollars of revenue for disney. it also spawned so many potential shows and other films for the platform. th

and it's simple, easy, awesome. >>> securities getting bullish on disney. new note with the buy rating telling investors they are confident in the disney plus direct to consumer platform. with us, mark, the analyst behind the call. mark, welcome to the show. >> thank you for having me. >> what are the baseline assumptions you're making when it comes to the progress dc will have to make for disney and by when >> we have, first of all, we're real bullish on disney plus prospects. it is a prebuilt fan base. 50 million households, an estimation we get to by looking at ticket sales really across all the main content characters we'll see on the disney plus offering we assume a small percentage of that 50 million, roughly 15% penetration that gets roughly 30% that gets us to roughly $15 million disney plus subscribers by 2021. >> what are the cost assumptions to how much disney will charge these 15 million subscribers by 2021 and how much disney will actually spend you estimate they could spend $20 million annually on content alone. >> that's right. so the assumpt

disney has just announced its disney plus platform, it has a direct of consumer strategy, and who knowse price, it might make comcast shareholders happy and it is doing nothing to displease disney shareholders either because it is going to give disney more confidence for everything it is rolling out for its consumers. that might be that part of the puzzle square to way. we shall see. xilinx is one of the poorer performers. it has had a major runoff, more than 65% on the 5g story. xilinx will be one of the main contributors to the 5g revolution. it may be overbought and that is what is causing some of the selloffs. 3m, a soft outlook, disappointing the street. a big track on the dow is down 11%. let's move to global macro movers for a bigger you. -- a bigger view. stronger dollar not helping turkey and argentina is having its own problems, the market taking a severe turn. the bonds are much pricier these days in argentina and as you can see, they again is a little -- the yen is a little bit of a beneficiary. guy: let's continue the conversation on these markets. we are joined by preferre

where do you see disney and 5-10 years?e have always seen disney as a technology company going all the way back. one is to use it to make the product better, this camera and what did the backgrounds. also to improve the experience of the consumer. in five years, i think you will see disney, at its core, being a telling company that is using technology to do all of the above. better, make the experience better, make it more accessible and more relevant. in other words, distributed in more modern ways. emily: that was bob iger, ceo of disney. coming up, one of the biggest tech ipo in years. we bring you details on hoover's -- uber's plan to go public. news, you like bloomberg check us out on the radio and in the u.s. on sirius xm. this is bloomberg. ♪ emily: it is the biggest ipo this year. ,ber has officially filed offering new details on operations and finances. we got a early reaction soon after the filings. take a listen. >> it is because it sold off businesses in southeast asia that it is able to account, this profit was

jp morgan and disney. jp morgan at its highest level since december last year after putting up a solid beat red across the board in earnings. does they also at an all-time high with investors cheering the new disney class service. jp morgan is what doing for financials, up three days in a row, up about 3%, the 1.t set of days since april not a long period of time, but there had been a lot of anticipation by investors on whether or not banks would be bullish or bearish. right now, bullish, not just for the banks, but perhaps for the s&p 500. take a look at this important chart we are looking at, the financial etf, the xls. and below, the as the wife, s&p 500 etf. banks leading at an all-time ,, with lots of volatility especially for the housing market last year, sending the banks lower. there is some divergence, but the banks are peaking up above that downward trend. the question is whether they will join the s&p 500 or it will be like last fall where the s&p 500 falls to the bank sector. the dax is also hi

for disney, will disney put movies in theaters first.ney, marvel, lucas film which gives us "star wars," pixar, or does everything go right to disney plus at the same time? same for tv. does it go through hulu or espn and then to disney plus, is it just kind of expanded and diffused all at the same time? as rich said, it's unclear how these decisions will be made and by whom so a lot of investors will be listening with open ears to those details in just two hours. the other big question, this is the one you are honing in on, is about price. in the past, disney has simply indicated it would be more attractive pricing than netflix and of course, the implication here is that disney's offerings will be substantially less in volume, if you like, content-wise than the bigger rival. you went through some of the pricing points there. so amazon of course as we know, $12.99, if you break down that $119 a year for prime, but a lot of people have what at least one consulting firm has called subscription fatigue. it seems like our world was going to