disney is up nearly 2% today, but disney's november 12th rollout of its brand new streaming service, netflix investors shaking in their boots. according to our next guest, which brings up the question can disney de-throne netflix, the current king of streaming? here for a netflix versus disney bull/bear debate, gerber kawasaki's ross gerber and porter bibb. good to see both of you. ross, to you first. you own both netflix and disney, but you are gunning with disney, you are on their side at this point. why? >> well, i think mostly because disney has such a wonderful way to monetize content that netflix just doesn't have. for example, my kid yesterday bought these new adidas that are "toy story" versions of adidas and disney makes revenue from so many different places for every piece of content. now that they have a streamer to put these shows on, it's just an additional revenue stream. where with netflix, it's the exact opposite business model where they spend all this money making shows just for a streaming service and there's no other monetization. we think this is a big problem fo

firstly, disney numbers are out.r us. >> we see disney revenues and earnings falling short of analysts' expectations earnings coming in at $1.35 adjusted versus estimates of $1.75. there are a couple of interesting items in here, many of them from the integration at fox that seem to be behind that fox. revenues also missing estimates coming in at $20.25 billion versus estimates of $24.7 billion. bob iger in his statement here saying the reflects reflect the efforts to effectively integrate the 21st century fox assets. looking at what is behind those lower-than-expected numbers, studio entertainment operating income coming in lower than expected at $792 million versus the $1 billion expected. that is because of "dark phoe x phoenix" the 21st century fox film the company recorded a film cost impairment because of "dark phoenix" which was a big disappointment at the box office another factor here weighing on these results, the company says the direct-to-consumer and international division, that division showing a larger

disney is huge. bob iger said on the launch of disney plus that he took his grandchildren to see cinderella, the same movie his grandparents took him. five generation saw the same movie and did not care how old it was, everybody enjoyed it. disney's content for the most part is timeless. eth,: all right, ivan feins thank you for joining us. that is bloomberg technology global link. this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. paul: 8:30 a.m. in sydney. the market open is 90 minutes away. a rough start of the week but today futures are pointing higher by three quarters of

and to give disney brands a bigger presence at retail, disney is partnering with netflix.ill be disney stores in 25 target locations in october with 40 more planned over the next year. >> four streams. that's more like a fire hose, isn't it that's a gusher. >> a whole family. it's for a whole family. gotta share that >> something for everybody there. yes. >> julia, stay with us we're going to talk more about disney's streaming strategy. brett harris is with us. what jumped out to you most about the announcements this weekend? >> i think we have seen disney is prepared to be very price competitive with netflix they started by pricing their basesign service at $6.99. on their earnings call three weeks ago or four weeks ago, they announced the bundle where they're bundling hulu, espn, and disney plus for $13, which again, is very price competitive with the main netflix service. then as you mentioned earlier, they're going to give consumers four streams, which is the premium netflix subscription as well as 4k >> so the fascinating thing to me is that part of the attraction of

jackie with the disney results. reporter: disney missing. earnings per share, 1.75. expectation was. take a look at the stock trading down almost 5% in the after-hours session as investors are reacting to this news. we saw the market come back in late trade, as i said high hopes on disney today, to help with the earnings momentum, guys. back over to you. ashley: wow, that is a big miss. somewhat, sr. pricing because disney has been on a tear especially with its movie with big blockbusters. let's move on, variety business editor joining us and gary, james still here. cynthia, are you surprised by the headline numbers. >> i think very much so. everybody's seen this incredible box office run that they have had, figured that would translate into really buoyant revenues but i think it is a sign that the hard work of the 21st century fox merger which was just completed in march, the hard work putting that together, making one plus one equal more than two is really just beginning for disney. ashley: i'm trying to get into these numbers. gary, if i can bring you in studio. e

we begin with a big mover after hours, disney. we'll go straight to julia boorstin with the details. >> reporter: melissa, in his comments on the call, disney ceo bob igor stressing that the lower than expected results on the quarter are results of the big changes he implemented at the company, both fox's acquisition and disney's pivot to embrace the direct to consumer business they're investing in right now igor just announced consumers will be able to subscribe to a bundle of their services for $12.99, they will get hulu, espn and disney plus, worth noting it is the same cost as netflix. take a listen to his comment here. >> our results reflect our efforts to integrate the assets, businesses and talent we acquired in order to enhance and advance our strategic transformation implementation of the integration plan is well under way. a complex process given the magnitude of the endeavor, and we remain confident in our ability to successfully execute our strategy >> reporter: cfo christine mccarthy saying that the acquisition of 21s

disney plus will be the exclusive streaming home for allf disney's upcoming movies including "captain marvel" the day of the streaming services launch. >> their content is distinct because it lives within these established franchis. the mandelorean looks like a high-quality series, but said within the "star wars" universe which has a large fan base built aiin. >> new d show the media giant's strategy to appeal to consumers in the face of so many streaming alternatives, including netflix, with even more coming from apple, at&t, and nbc universal. disney plus' standard $7 plan or $13 bundles with espn p and hulu will include u to seven user profiles and four streams at the same time. ncand it will ilude streaming in 4k and hd. to compare, netflixes charg $16 for 4k and four streams. unlike netflix, disney plans to release new episodes of its originals weekly, rather th dropping them all at once. disney indicating it will continue to mine its deep library as well as fox's with its "simpsons" movie, as well as a spinoffyor dislus in the works. >> disney is going to be incrediblype ctive w

and working to beat disney's new streaming service to market.day, august 20th, 2019, and squawk box begins right now. ♪ >>> good morning, everybody, welcome to squawk box here on cnbc we're live from the nasdaq market site in times square. take a look at the u.s. equity futures this morning you can see a little bit of a future s&p futures up by less than a point. this is all coming as stocks are trying to feel their way around and see if they can extend that three day rally. you're now looking at the markets back to where they were basically before that 800 point loss yesterday the dow was up by 1% the nasdaq was up by 1.4%. across the board, they'r

disney versus netflix? hul u-verses this.om is there on this streaming screen for the consumer won't they have all of them or most of them >> you're pointing to a huge issue here which is that we just hit the highest cord cutting quarter in the history of cable and satellite. and it doesn't look like it's going to get better for traditional television bundle. what people expected was as that happened, subscribers would start going to these so-called skinny bundles that hulu tv offers and cheaper, smaller packages of channels those have clearly not done as well as people thought even though they're much cheaper at $50 versus 80 to $100 for the cable satellite bundle we have seeing some price resistant set in here. it's bigger than what people thought. there is going to be a limit as to how many streaming services people are going to take to. netflix with almost 60 million domestic streaming subs. i don't think they're going to be the ones that people are going to disconnect because the original programming is so high that they

disney disappointed.stock is down we'll tell you why coming up. >>> then we're jumping back in the "worldwide exchange" time machine. what happened the last time we had a big chinese currency slide? it wasn't this week, it was a couple years ago we'll show you it's your morning rbi, it's random and interesting we got it coming up next it's show time. let's cowboy up! exhilarating speed. woo! precision control. woo! maximum reliability. access denied. [ repeats ] access denied. if it's not xfinity xfi, it's not good enough. for wifi with super powers, get xfinity xfi. and go see, fast & furious presents, hobbs & shaw. now playing. >>> welcome back time for your executive recap. >>> shares of disney under pressure, down 3.5%. earnings and revenue falling short of wall street expectations bob iger blaming the miss on the ongoing integration of fox's entertainment assets which disney bought earlier this year. >>> facebook sued two asia-based app developers for what it calls click injection fraud. facebook arg

. >>> trouble at disney. a whistleblower claims disney defrauded investors by overstating revenue by billions of dollars. quite a story. we've got it for you. >>> more disney news. we have a tech watcher who says the stock, disney stock, could double over the next two years. that's a forecast. it's going to double because of its new streaming service. the analyst joins us later this hour. >>> china reportedly using facebook and twitter to spread misinformation about the hong kong protesters. details on that for you, too. >>> terrorist groups around the world turning to bitcoin to raise money. "varney & company" just getting started. what a day. hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could feel like getting robbed twice. so get allstate... and be better protected from mayhem... like me. ♪ stuart

and disney plus. we think that disney is positioned to really do it because of their strong brands and as julia pointed out probably best in class to be able to do so. >> does espn -- for a long, long time the whole story with disney was espn is 40% of the operating profit what does that look like over time are they reducing its reliance on espn, period, or shifting the content? >> 100%, especially as sports rights continue to accelerate. we have a huge increase coming with monday night football coming, the nba a year after that as cord cutting picks up and sports rights keep on increasing, that's going to hurt profitability, which is why you need to make that shift. >> is it likely with specific reference to the sports rights, that you will not have just a few dominant players but you'll have a lot of players with some sports rights? in other words, amazon, yahoo! netflix may get in and buy some package of nba games >> i don't think we'll see netflix go there, but certainly with amazon, twitter, face

disney is seen lawsons and streaming and investments in espn, disney plus and hulu.hat is the future of this business. he wants to compete with the likes of netflix and the other services that are out there. also seen that on growing integration of the fox entertainment assets that it required in march was taking a little bit more time than expected. disney plus is going to launch in november. they will charge $6.90 a month, if you choose to go with the plan. investors are looking at this compare to netflix who was the first mover in the space. it had a very rough quarter. it's all about original content. it's about competition in the space. so many more players there now. the question is, it is disney really going to compete here? one final point, the highest grossing films help them. avengers, 2.79 billion globally. that was the highest grossing film of all time. those kinds of titles, lying king, toy story four will help them in the future. you can see there down more than 3%, coming back a little bit. investors are going to look at this and not be as negative as

the lowest performer is disney after earnings shocked the street. disney down more than 5%.cluding gold, above $1500 an ounc

the chairman of disney parks says there's a 90% overlap between target and disney customers.isney is the parent company of abc 7. >> i'm right there, right in the middle. >>> why you should consider sharing a photo of your dog on social media today. >>> a flight that departed from hawaii crashes in santa barbara overnight. what witnesses saw after part of the wing broke off. >> a spike in store break-ins at a popular shopping area, what business owners say they need for better protection from thieves. >>> a live look at 4:57 in the who knows a hobby can thalso be an investment.ht. we do it right too, with a lifetime warranty on craftsman. so, you can count on passing it down. (sigh) (crunch) babybel: that snack just sounded boring. babybel: coming through. no photos, please. babybel: bye bye, bland. babybel: helloooo, delicious. vo: rich, creamy, 100% real cheese. vo: with mini babybel, snack time is saved. babybel: saved it! >>> an officer-involved shooting in el cerrito involving a police officer from san francisco. the new information that police just revealed. good mornin

>>> and new revelations from disney plus. disney's new streaming service. the headline making news at the d23 expo. the new obi-wan series. a sneak peek at "the mandalorian" and its droids and the great news for "lizzie mcguire" fans. >> it feels really great to be home. >> ginger zee live with all the latest. >>> eva tells me "lizzie mcguire" was a huge thing for her growing up. >> little girls everywhere. still love "lizzie mcguire." >> got to boost my cultural literacy. good morning. we are very happy to have sam champion back with us. he's standing over there. we'll show you him in a minute and joining us for the first time terrell brown from our chicago station. welcome. >> glad to be invited to the party. i have no idea what i'm about to get myself into with you guys and sam. >> yeah, we'll take it easy on you. >> a lot. we'll feed you before the morning is over. that's the good thing. >> that's the good news. >> just watch out for eva. >> is that the only thing? >> i'm the least of your worries, i promise. >>> we begin here though with news that is b

today, shares of disney lower.ly earnings and income that messed revenues -- missed revenues despite the touting of the star wars attraction at the disney resort in california. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am viviana hurtado. this is bloomberg. tom: let's get to the data. equities, bonds, currencies, commodities. it is extraordinary, two days in a row a lift to the market. the 2-10 spread in the united states, the great recession indicator, 10.44. that is different from monday and tuesday. oil cannot find a bid. the commodity complex is fascinating. a gold surge. , very important for our conversation, -0.58. --c forecasting zero point -0.81. francine: i am looking at a similar data check. stocks are rebounding. bunds is where we are looking at the most moves. dove essential banks and futures in the u.s. higher. calmer in asia -- asia. the new zealand dollar tumbling after the greater than expected rate cut

disney loses its magic, despite box office smash hits such as the avengers endgame — profits are lowers it pumps money into its streaming service. and on financial markets a bounce back on wall street brings some relief — but investors remain cautious with gold soaring to over $1,500 an ounce. as the countdown to brexit continues talks about whether the uk can do a trade deal with the world's biggest economy, the united states is among the top priorities. the uk foreign secretary dominic raab is in washington today to meet his opposite number mike pompeo. total trade in goods and services between the world's first and sixth largest economies was worth $262.3 billion last year. two weeks ago president trump said after a phone call with borisjohnson that could be multiplied "three to four, five times" under a post—brexit trade deal but gave no details on how. at the moment the eu accounts for almost half of all the uk's imports and exports, that's more than three times as much as the usa which at almost 15% has the biggest share for an individual country. a trade deal could close that ga

lauren: disney takes a third quarter hit. will new streaming service be a sweet spot for the mouse house. cheryl: losing a job is never easy. a surprising study reveals who you lose it to may soften the blow. it's wednesday, august 7th. "fbn: a.m." starts right now. ♪ ♪ i want to dance, you and me alone. ♪ i want to capture the feeling. ♪ oh, yeah. cheryl: welcome to "fbn: a.m.." good morning. i'm cheryl casone. lauren: good morning, i'm lauren simonetti. let's take a look at how your money is moving this morning. dow futures gaining 69 points, s&p up 8, nasdaq adding 40. cheryl: we're seeing stabilization in asian markets overnight. we've seen a moc a move on the . the nikkei and shanghai composite slightly down, the hang seng actually gaining. lauren: we have some stability in the european markets as well. the ftse is up 50 points, the cac up 55, the dax in germany up 1.2%, despite a new report showing industrial production in the powerhouse of europe contracting. cheryl: we're following the 10 year treasury right now, espe

netflix versus disney, i think, is the right comp, because netflix just raised price and disney is nowing they're going to do a $12.99 bundle for hue lu pllu plus, so three servr $14 and four streams from netflix is now $14 after the price increase to me, that feels like bundling is a smart idea. i think free services feels like a better value i think what we're going to get for the first time in over the top is marketing juggernauts have arrived guys who market things for a living and that is what disney does better than any company in the media space in my opinion. >> so does that slow netflix growth in a significant way in your opinion >> i think it takes netflix growth negative in a significant way in the u.s >> you do? >> i do. >> and over what period of time? disney is obviously coming out, fairly soon now -- >> november 12th >> yeah. does it happen almost immediately? they're going to have to spend a lot of money at disney, by the way, to your point in terms of get everything ready and the market goes along with it? >> so bob iger has said he wants 90% awareness by the time they

before joining nfa he is executive vice president of disney imaginary. a phd neuroscientist. in an inventor with over seven patents and pending patents. his book includes brain, safari and tonight's book is all substation. if everyone could give a round of apostle commack. >> hi. again thank you for coming. thank you for showing up, we want to think diane for organizing this event along with kim peart who is here in spirit if not a person into the bookstore in los angeles. erica's had an unbelievable literally and metaphorically career and for we get into this true story of spy craft which is an amazing book which is even better if you buy more than one copy. the book gets better with every copy that you buy. i want to begin by asking you, what did you do at disney imagineering and how did you end up there? and how did that take you to the nsa? >> disney as executive vice president of engineering and we design and build theme parks but we also had a broader mandate under michael eisner to invent new technology for the whole copy. themepark rights, new broadcast technology, in

but disney's streaming services have a price plan.e will have details, next. ♪ emily: disney shares plummeting in late trading after reporting quarterly results that fell short of analyst estimates. earnings squeezed by falling theme park attendance, spending on new streaming services, and a flop of a movie inherited in the $71 billion acquisition of fox assets. joining us to discuss is chris, who covers disney for us. chris, i don't understand. disney opened the most anticipated theme park attraction in star wars, and attendance dropped? chris: yes, we are calling it the star wars stumble. we have written about this. there are social media posts saying there is nobody on main street, no wait for these rides. there were a lot of explanations given. bob iger today on the call gave a surprising mea culpa. he said, we tried too hard to limit attendance, because we thought crowds would be too big. they had a reservation system for the attractions. they have never done that before. everyone in anaheim raised hotel prices. they didn't have

era disney before they are even ready -- like euro disney, for example, before they are even ready.reaming service doesn't begin until november, but they are offering a humongous deal to people who sign up and preorder, right? reporter: that's right. they just had their big d23 expo, and people who were part of that fan club, if they signed up for a three year commitment, they could get it for about four dollars a month as opposed to $6.99. people are really paying attention to the price points of all of these streaming services. you've got netflix and amazon, and now apple, disney+, hbo max. the consumer is probably going to start wondering how many i can actually afford. as these details come out about streaming services, how much they are charging, that is a big thing. for disney to offer a discount, there were reports that the website where you could sign up actually crashed, so the demand for that disney+ seems to be pretty high even though it hasn't even started yet. vonnie: three years of a very competitive price. thank you. that is bloomberg gerry smith. it is time now for t

. >> disney. >> yes >> let's talk about disney the shares are under pressure this morning this after the company missed the top and bottom line estimates of the analysts who follow it, blaming costs related to crease of the new streaming service, though not unexpected but you did also have the integration of fox's entertainment assets, of course, that was a $71 billion purchase, it took quite some time to close. company also announced it will bundle its new disney plus streaming service with the ad supported hulu service and sn pl espn plus, the price $12.99 a month, 30% discount. bob iger addressed cord cutting with julia boorstin. >> are we concerned about cord cutting? yes, that's an important business for us. but it is the reason why we're going into this other space, why we're pivoting strategically to give us an opportunity now and contend with the transformation that is going on in the traditional space, but to thrive and basically completely different marketplace, under different marketplace conditions. >> julia will join us in the next hour with more from that interview. of

vonnie: what will be the next foray for disney?the streaming proposition is out there in public, it is going to get up and running, maybe disney can concentrate on something else. geetha: i think for the next few quarters, it is really going to be the focus on streaming. their first big step obviously is the u.s., but i think investors, once the u.s. launch is done and dusted, investors are really going to then focus on overseas. they need to obviously make that product a global streaming product. and then, who knows? just with their theme park business gaining legs in china, with shanghai and the hong kong park, maybe they open a new park elsewhere. maybe they go to other emerging markets, let me be india, for instance. guy: geetha, we look forward to the numbers a little later on and what we get in terms of the streaming service. coming up, the gun control debate at the center of d.c. politics right now. why some republicans fear the party stance on the issue could cost voters in 2020. this is bloomberg. ♪ ♪ guy: from london, i'm

>> no, especially disney, david disney is the best content create or in the world by far, and you lookone with espn plus where they have ufc as part of their package added 568,000 viewers in two days when they had the first event in brooklyn. they do streaming very well. the one thing that apple can do and it's what disney is trying to get into more is live sport. i think apple with their money they can't compare content with disney, but they can buy things. they can buy nfl rights, they can buy nba rights, premier league rights and i think that's where apple goes where if you want to watch these great sports that so many people love, you ever have to have an apple tv to do it and that will change the game. >> yeah, no this is content is king, and apple is very behind the 8 ball here, i agree, in terms of disney. if you have a kid, somebody whose in to the disney properties, super heros that's a no-brainer for you. if you're already locked into netflix and used to using it as long as they have one to two shows at a time you're interested in binging, i think people are going to be inter

look, even disney's theme parks had a setback and this quarter was an unusually noisy quarter for disneynk you, both. >>> two big hours ahead on "squawk box. if global populism is here to stay, we'll tell you what you need to knee first, kevin rudd, our china expert he has been skeptical in the past about a trade deal with china and he'll join us in a moment you have to hear what's on his mind we're back in just a moment. -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. >>> stocks searching for a direction amid a wild ride on wall street and china's central bank is keeping investors on edge we'll talk markets, a possible currency war and much more >>> huawei responds. senator marsha blackburn urging the u.s. not to do business with the tell com giant the chief technology officer of huawei is here to respond. >>> plus, the rise of global populism how hong kong is trying to embrace democracy as the second hour of "squawk box" begins right

disney will earn from the services.e that getting broader audience for hulu will help grow its ad revenue, which heays is valuable revenue stream. for "nightly business report", i'm julia boorstin in los angeles. >>> "the new york times" sees a rise in digital subscriptions and that's where we begin tonight's market focus. the company reported mixed results,areatingngs expectations but missing on revenue. "the mes" says it is making strides in its digital subscriptions but expects what it says is a challenging second half of the year with its digital advertising unit. sharese fell m than 12% to 3125. cvs topped estimates thanks to an increase in same-store sales, rescription drug sales and its recent acquisition of the insurer aetna. the company all raised its full-year outlook. the stock rose more than 7% to 5812. cvs rival walgreens will shut down about00 stores or 3% of its u.s. locations as part of its plan to cut costs. the company says it will deliver annual savings of more than $1.5 billion by 2022. the stock was

abc is owned by disney. but i don't care. disney is amazing. have you been to disney world?ephen: really? >> have i? >> stephen: you would know. you would know. >> i guess not. ( laughter ) oh! i did! i did! ( laughter ) and i'll tell you why-- why i forgot was, i did a standup gig there once-- i think it was-- >> stephen: you did standup at disney world? world or land? like, florida or california? >> florida. >> stephen: world. >> it was a mistake for everybody concerned. ( laughter ) because i think if you are at disney world, the last thing that you want in that atmosphere of magic and anything possible-- >> stephen: sure. >> is a comedian telling you that the world is going ( bleep ). ( laughter ) it really was-- disney and i had different things that we wanted to do with people's evenings. >> stephen: yes. well, they have that ride there. "it's a ( bleep ) world after all." >> that's right. ( laughter ) ( cheering ) if there-- if there was a british disney world, it would be just someone sitting in a dark room saying, "just think about the fact that everything is gone n

that's more than disney itself has predicted. disney has forecast somewhere between 20 and 30% of broadband households will be subscribers more than half of those who would sign up are telling ubs they'd cut at least one other service. pay tv being the first service they canceled with other streaming services closely behind we talked about netflix's under foermance this year. you have to think they're worried. it's a reminder the pie doesn't keep growing forever >> you have to think they're worried. the most interesting thing about this was that we know disney plus is going to be very popular. they're saying 20 to 30 million in the u.s 60 to 90 million overseas. who are the losers what's interesting about this is only 13% of respondents said they'd have three or more streaming services so three is the number three is going to be the number of how many of these services can people have? three will be the number amazon probably one. netflix is probably -- >> you think amazon? >> those could be the three. netflix, disney plus and a

dagen: here is the kicker and disney said this year, disney plus which is stand-alone is going to cost9 a month, disney plus will come in a bundle along with espn plus and hulu for 12.99, same price as netflix most popular subscription plan, you know what netflix doesn't have live sports. that's what you get with the bundle, that's a very competitive price and that is a very attractive option. maria: probably the most important intellectual property on television. >> sure, sure, iger did say on the call that this was the most important product the company has launched since his tenure. the other thing is they have to scale it very quickly, consumers are about to inundated with streaming services, pay to play things and i think he believes he has to go quick, he has to scale it very fast. >> for the same price you're getting less content. people will pay for the sports and if you're a parent, the disney, all the different -- their assets. dagen: who can turn that down. i've owned all of the streaming services at one point or another. i don't have a cable, i've rented the streaming servi

, that's a great description of the disney superpower so i expect people to for $7 a month take disney and their kids are not going to let them churn. disney projected originally they'd be at 20 to 30 million subscribers in america in five years. i think that could be higher >> crazy >> then we have apple sending out invitations for the september 10 event where the new iphones are expected to be announced. so the iphone pro is coming. what else? >> they're saying they're going to introduce three new iphones i think the important point to make, a continroversial point of view, is on ramps into the ecosystem. you want cheaper phones and higher end phones that get people to come to the ecosystem so that you can sell them. the new arcade service, which is video games. the new over the top service, which is video more services. like drop and cloud and because what are data and research shows is once somebody has three services, they churn they'll stay in that apple ecosystem sort of indefinitely so moon ramps into the apple ecosystem and more products once you get there. once you have three

other video service if they subscribed to disney plus it was taken as good news for disney and overall for everybody else, too. >> i think good news for disney. i was interested in the second bullet point 57% of people to cancel a different service. >> of the people that said that they would cancel a different service. >> of the people that would take it out. >> to keep all of their services >> well -- >> more than 60%. >> i think a higher chunk of people saying they won't keep everything in order to pick it up bank of america note, i get the thinking but it's a sort of odd time to be doing it. everyone is aware that bank of america is heavily attached to the yield curve and already moved significantly and now the downgrade comes and seems late to the party downgrade and the bank stocks today certainly ignoring the downgrade and rally. >> rates are going down and as if they're going to just continue to move in the same direction. >> right. >> i think that that dynamic for banks is way overplayed. the flattening of the yield curve. 1995 is a great example. flat curved from 180 to 0 and

on walt disney to report the numbers after the bell.be eyeing numbers which included a record-breaking box office success of avengers end game, the opening of a new star wars attraction and the heavy investment in streaming. bloomberg's paul sweeney is here to tell us what to watch for. there was importance on getting the streaming piece right and the stock building enthusiasm. could that be a sore spot? paul: it could be. right now they are in the investment phase. they will not launch disney plus until late this year. they launched sports espn plus seeing a ramp-up in expenditures in programming and technical expenses and overhead expenses associated with the new business. big streaming product will not launch until late this year. we will track subscribers and revenue then. it is all about the cost. we know it will not make money on the streaming business but they seem to be ok with that. shery: you have spending on disney plus and then also consolidation of hulu -- does that mean more losses? paul: potentially, they are not going to

disney aired this tribute video. >> it is a personal loss for so many young people who watch disney.hink the best thing we can do for them is to remember cameron exactly as he was in the most positive light. but not to avoid it. >> reporter: in his memory, boyce's family has created the cameron boyce foundation, to give young people creative outlets as alternatives to violence. a fitting tribute to a bright star whose life was too short but whose legacy is sure now to live on. >> cameron said something. he said we all go. he said -- >> what you leave should be bigger than you. >> what you leave here has to be bigger than you. and i think it's important for us all to make every beat count, every moment count. >> you can watch descendants 3 on the disney channel now. >>> and next, one giant step for one little girl. when i was diagnosed with breast cancer, there was no hesitation, i went straight to ctca. after my mastectomy, it was maddening because i felt part of my identity was being taken away. when you're able to restore what cancer's taken away, you see that transformation firsth

position for disney with $150. are you underwhelmed? >> i am. think this quarter we knew ont, coming in, we spending direct consumer initiatives will depress the overall results. i think the company has telegraphed that they will ramp up their spending on that division. every thing else seems in line with expectations. theme parks a little bit soft fairlystill seems to be strong. the studio was the main highlight. we knew that avengers end game would be the big driver. we are staying with our strong buy recommendation. romaine: we knew that this spend for the streaming service would be a little bit of a drag in the interim. once they finally get disney plus up and running later this year or into next year, do you think there will be an immediate they will be looking for new areas to exploit new franchises across the world. romaine: coming up, a relief rally. stocks bouncing back on the hope that the trade war won't get any worse but the currency clash does continue. this is blumberg. ♪ caroline: quick check on the latest earnings after hours. i'

disney is the parent company of abc 7. >> i had no idea. 90% between target and disney?lot of sense. >> all right. let's take baseball, and see how much sense that made. >> we'll tal about it. they were jerseys you might not recognize. the 2019 edition of the babe ruth series come and 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. >> >> can you believe it's been 30 years since the bay bridge world series. oakland honored the 1989 world champs and made a big announcement about one of their living legends. the team is going to retire dave stewart's number in 2020. there he

sony and disney failed to come to financial terms for future movies disney wanted half of the profitsn exchange for half producing the cost of the movies but sony reportedly balked at the terms. so after five movies together, this is what's so interesting about this apparently no disney marvel film now can so much as mention his existence. >> tone it up. >> i don't think it's a done deal yet i think we've only seen the opening salvos from both sides here but i think sony has the most to lose in this particular case not having spider-man included in the marvel cinematic universe, although disney, you know, they are playing with fire here because spider-man has been the central figure in all of the marvel super hero movies >> and the movie agreement was that disney would only take 5% >> to this point they've put up all the production money through marvel they get 5% of the gross then sony gets everything else that sounds the alittle lopsided so they just went 50/50 and sony says no way disney says to be saying we're going to make all of this great tv content and double down on that chan

customers at target can now shop for disney-related items inside dozens of stores.ozens of stores. ♪ ♪ woman 1: this is my body of proof. man 1: proof of less joint pain and clearer skin. man 2: proof that i can fight psoriatic arthritis... woman 2: ...with humira. woman 3: humira targets and blocks a specific source of inflammation that contributes to both joint and skin symptoms. it's proven to help relieve pain, stop further irreversible joint damage and clear skin in many adults. humira is the number one prescribed biologic for psoriatic arthritis. announcer: humira can lower your ability to fight infections. serious and sometimes fatal infections, including tuberculosis, and cancers, including lymphoma, have happened, as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. tell your doctor if you've been to areas where certain fungal infections are common and if you've had tb, hepatitis b, are prone to infections, or have flu-like symptoms or sores. don't start humira if you have an infection. man 3: as

i will let you get back to covering the disney headlines.: coming up, taking down a hacker with a tip line. using the old school to fight the high-tech. that is next. this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. emily: this is bloomberg technology. i'm emily chang. when you hear the words tip line, you are thinking about a police hotline to report a crime. but, they are also used by companies to expose cyber vulnerabilities. according to a 2018 report, 93% of the world's largest public companies do not have policy to handle cyber tips. for capital one, they did and that is what led to the arrest of the person wh

disney?y package they brought to the market today -- if you are thinking about the 48% of american households that have not signed up for streaming, they are waiting for something. they will get to have their sports, television channels, license content and the powerhouse disney portfolio of marvel studios, pixar all for that price. we will see a tidal wave of people coming into the streaming market driven by disney. lawrence,nx dallas lots to watch and discuss. thank you for joining us. ahead, google employees speak out once again. this time to keep the company from helping u.s. immigration agencies. we will discuss why next. this is bloomberg. ♪ some early investors in the ride-hailing company lyft will get the first opportunity to sell shares on monday. an expiration was brought ahead from december 24 as the original date which would have been in the blackout period. in a report published after the recent earnings, an analyst said the company's cofounders will not be selling shares at the

througher a deal with disney and sony to appear in some ofve disney's m films including captain americanjers infinity war, end game kevin figy the head of marvel studios stays on as producer for sony, which isar spider man f from home. yesterday it was announced t t kevinfigy will no longer be producing as a lead producer on the sony spider man movies. here's what thatmeans. that means going forward, if this actually curse,nd actually goes down the way it's been reported, the new man movies cannot ever be a part of the marvel cinematic story ider man can no longer appear in the disney avengers movie. >> you m that easy to understand. >> basically what will happen, we'retill waiting to find out details, it's a financial disagreement between disney and ny about thecharacter. if is a big deal, becau you think about it, how big o a deal spider man been in venjers andl mar cinematic films wiar civil w infinity war and end games, spider man was a gigantic part of this. if they don't come to an agreement, that meansr spideman can no longer appear in the marvelinematic films. that's a big deal.

one woman's emotional trip to disney land that may be the most unique experience that minnie has ever had. >> sometimes it is the moms showing they got -- >> all the moves. >> and sometimes it is the kids who just won't quit. >> nice. >> good work, bud. >> we have christian, oli, charity, nick and gayle breaking down the best on the web and one woman's smart online dating, how she is hitting the streets to make a statement. >> that takes bravery. good for her. >> yes. >> matt lehtinen is so lucky to be alive. >> just had to pull the parachute. i'm in the middle of quebec, trying to get my sos to work. >> that's because his plane went down into the woods. he said he experienced engine failure and he looked at his instruments and he was in trouble. >> take this log so people can learn from this experience. >> you were in a plane crash in the woods and now you're blogging. that's insane. >> he crashed into the woods, a tree broke through the floor of his plane, narrowly missing impaling him. some of you know tit iit is with a parachute system which is essentially a full plane ballistic p

yes, that billion with a "b." >> that's the beauty of the disney magic, you know. >> let's kaboom, gover the top, reaching the billion-dollar club this week. tim allen certainly spread the word on "e.t." >> i'm telling you this is a good one. >> you need help with that if. >> no, i got it. >> so here's disney's billion-dollar clubhouse. "avengers: endgame," which has soared to $2.8 billion. "the lion king" continues to roar with 1.3 billion. aladdin just overtoy story roun. ♪ you ain't never had a friend like me ♪ >> and let's put this feat in perspective, disney could have done half the business and still beat all its rivals at the box office. in fact, sony is the only other studio with a billion-dollar movie this year, just one, "spider-man: far from home." >> that was so good. >> and disney is not done yet. the total could easily hit seven movies with two more blockbusters on the way -- "frozen 2" hitting theaters on november 22nd. >> i don't want to say anything can top "let it go," but there will be some contenders. >> i won't let anything happen to her. >> and "star wars: the ri

households have heard of disney plus.hat's the streaming service, at least 43% intend to subscribe to that service, whig saying thle t disney's projection have said too modest of the same survey, 57% said they would cancel an existing streaming service to make financial room, presumably, for it we've had our first look of what's going to be on disney plus this week joining us now, kara swisher good to see you. >> good to see you >> so i think a lot of people we've had on air keep saying, there's room for everybody in this streaming game. netflix will be fine everybody will be fine i don't buy it i think somebody is going to take some lumps here what do you think? >> we see. absolutely, i think people don't want to buy a lot of services. i don't know how you act, but i don't want to own like six or seven services you do have magazine subscriptions and things like that, so people are used to it, but the question is will they pin practice be using this many services it's not a zero sum game, but it makes people make choices

this morning disney treated five military families to a surprise.eview of this new attraction before it officially opens tomorrow. in a few minutes, park officials will hold the dedication ceremony at disney's hollywood studios. this morning on gma you'll get a behind the scenes sneak peek. disney is the parent company of abc 7. >> i'm happy for florida to get theirs. i don't see how they could possibly beat the opening ceremony at disney land when mark hamill shows up and then harrison ford in the last second. >> yeah, who you got? >> who you got over there? because your humidity-controlled light sabres. >> we're happy for them. they'll enjoy it. >> we'll have to wait another month. >> we're not jealous at all. >> no, no. >> you need something after the christmas holidays and we get ours then. how about that? >> there's two rides at galaxy's edge. right now there's only one at disney land. the second one will open in january. you'll see us there. >> let's talk about what's going on weatherwise. yes, i hope that happens. here is a look at mountain e

dow the worst performer because of disney. the nasdaq's only down a quarter percent. >>> coming up, the president thought he thought the stock market would be lower. how far is he willing to go? we'll debate that next >>> plus, the new kids on the block. we'll take a look at how recent ipos perform and what it means for some of those big names waiting in the wings >>> and one strategist told us that rates would fall number 2 ers earlier this year. he was right he'll join us with his playbook which has one very bold pick ts "e chgeon ts "e chgeon cnbc you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. 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 "the exchange." president trump shrugging off this week's selloff telling reporters he expected it to be even worse >> the market reaction is to be expected i might've expe

so hulu is one of the planks in the disney bundle. it's not just disney plus.t's hulu and espn plus as well. the advertising part of the pie, absolutely essential better access to data that they'll have when they have the direct relationship, that will allow them to monetize advertising more directly. >> there's so many plans for new streaming companies to come online, whether it's at the end of this year or the beginning of next are there simply too many of them we only got a certain number of hours in the day where you can sit as a consumer and watch. is there a risk of this market becoming oversaturated >> we thought we hit a ceiling earlier this year when we saw the number of services people appeared to level out in the u.s. but i think we're about to break through that ceiling people think nothing of buying a sky subscription with 600 channels or 500 channels we won't have 500 streaming services, but there's room for 10, 15 or 20 >> we mentioned "avengers: endgame" there how differently does a company like disney or competitors have to think about the cont

halloween time is back in disneyland and disney california adventure parks!... . >>> an exclusive update from the abc7news i-team. >> a woman calls herself a virtual travel counselor, but clients say she took their money and never booked vacations. >> her parents says she owes them money, too. melanie has the latest. >> reporter: house of aloha, hawaii, some people say ruined their vacation. for one cupping, it was their wedding. now we've uncovered more information. rachel and mikey took their time. >> it took a year to actually ask her for her number. >> describing their eight-year romance as slow and steady. >> what i love the most is his patience. >> similarly after mikey proposed at christmas in 2017 they decided o n a long engagement with plenty of time to plan and for their family to save up. the destination, a no-brainer. hawaii, where mikey took rachel on their first vacation as a couple and where she discovered the aloha life. >> it's a hospitalble culture without any strings attach. >> they hired wendy, who goes by wen, to arrange the wedding. >> it w