replaced by service now ceo john donahoe. we hear from donahoe 6:00 p.m. eastern on "mad money. in the meantime the reaction on shares of service now. that stock down 8% right now off the after hours session lows let's bring in jared wisefield, managing director and tech sector specialist at jeffersy chemical o welcome great to have you thank you. >> thank you. >> is this drop in the stock warranted from service now. >> from investors i spoke with the, the biggest reaction has been just a sudden shock this was just not anticipated. you've had a lot of turnover in the c suite over the last three to four months the cfo stepped down and went to snow flake in the private secretary are. donahoe was recently appointed investors are taken aback that we have seen the turn over in a short time. >> is bill mcdermott, the former coceo of s.a.p. can he fill the management gap. >> they are bringing nonan incredible leader. longer term sharmds are of a positive view in terms of who they are bringing in but it's more of better understanding than near-term disruption to the market because it's

donahoe said he simply hasn't seen any slowdown. same goes for last nights's other big winner, microsoft. here is a company that is clearly firing on i don't know how many cylinders just an awesome thing. the amazing ceo saturdaysia nadella. i know there are headlines last night that created the impression that business was slowing. but those headlines must be written by some sort of buy, because everything this company touches turns to gold. whenever you're talking about, linkedin, xbox, windows, or the incredible azure platform for cloud structure, it is all working. ♪ hallelujah when you read microsoft's conference call you think the whole world must be booming. real really, it's just microsoft that is booming another business that has not seen any kind of slowdown. then there is the company that donahoe's leaving for. nike nike has been able to avoid any sense for its expensive footwear even in china its sales remain very strong. my only fear, i was worried these pro hong kong statements by players and coaches in the nba might l

five years, 125%, donahoe at service now five-year, 225%. can argue, listen, it is just tough that nike to lose parker, a visionary, but donahoe is no slouch real deal. >> he's the real deal. first met him during the fight with carl icahn over ebay, he said no, and then yes, and split the companies, which created a lot of value still chairman of pay pal too. >> wow >> which reports tonight. >> people are thinking pay pal will mackke a move. a merger with pay pal and someone big in the payment space cannot be overlooked >> big in and of itself. >> short list. >> that's your short list. >> my short list, my investment banking short list. >> got it. every day i mackke a lot of cal to get the deals done. >> you're instrumental in the workings of financial system overall. >> we have to move on. >> boeing and cat were leading the dow. >> that's crazy. >> for now boeing is to bob pisani. bob? >> we're about a quarter of the way through earnings season, more than 100 stocks in the s&p have already reported. let me just show you the sectors. earnings

john donahoe has big shoes to fill >>> and does the sl-eloff -- don't make a move before you hear meake and then this night's edition of lightning round. stay with cramer >>> it's earnings season. >> the biggest companies in the world are set to report. >> we're breaking down the numbers like nobody else it's about performance. >> and opportunity >> what it's earnings season on cnbc wagon? you know it's an suv! i know for fact your suv does not suck. why is that? it ain't got that vacuum in the back! we got to go. ♪ vacuum in the back, hallelujah! ♪ >>> hey, lately the whole cloud cohort has been eviscerated here and some of the stocks can't seem to catch a break. take servicenow they automate and with back office jobs anded for years it was a huge winner that's why we -- but the market has turned against the group servicenow in particular has been slammed then the hits keep coming. last night we learned the company's long term ceo john don al -- donohoe is leaving to take over nike. but wall street hates uncertainty an they preannounced some robust numbers. the revenue up 34% and it

john donahoe while sales were rising during baucus time at the helm nike was recently hit by scandals including the end of the oregon project which was plagued by accusations of doping against its chief coach of the salazar. we work announced it's accepted rescue package from soft bank its largest investor a $9500000000.00 deal gives the japanese tech complement an 80 percent stake in we work to cap the turbulent period for the co-working space from included a failed i.p.o. and billions of dollars in lost value which. an hour for you chocoholics it's time to get saving the world's most expensive chocolates. just been launched in india ltd presented its for bell brands new truffle trio has instantly broken the record when it comes to costly sweet treats its look. to he should have been ill of beans piedmont hazelnuts and jamaican blue mountain coffee just some of the high price ingredients featuring in these toke hurling lee expensive truffles at $5.00 and a half 1000 euros per kilo they've now entered the guinness book of records as the most expensive truffles in the world something e

mark parker is handing over the reins to former e bay chief john donahoe while sales were rising during part time at the helm nike was recently dogged by scandals including the end of the oregon project which was plagued by accusations of doping against its chief coach. now mark zuckerberg is not giving up on the idea of a facebook backed digital currency the in a giant says it plans to launch libera as early as next year but not without the approval of all u.s. regulators $21.00 companies teamed up to create the libera association the group behind the currency along with facebook they include streaming service provider spotify rights service provider but liberal suffered a setback earlier this month when some backers among them payment companies mastercard and visa with drew from the project now facebook has about 2400000000 users a huge base of potential customers to make digital payments in the future but many politicians and regulators have slammed the social media platforms plan saying global would endanger global financial stability undermine user privacy and facilitate money laun

he'll be replaced by board member and former ebay ceo john donahoe.ine strategy. online retailer amazon has opened a vast warehouse the size of 20 football pitches in a southern suburb of paris. the warehouse is amazon's largest in france and mainly staffed by robots. but humans are not entirely out of the picture, more than 600 permanentjobs have been created already and the company says it plans to increase that to 1,000 jobs in three years. that is your business briefing. and —— henry willjoin me in a moment for the news briefing. a generation of children with special educational needs and disabilities are being "let down day after day." that's according to a new report by a group of mps who say that despite reforms parents face "a titanic struggle" to get access to the right support for their child. frankie mccamley reports: ifi if i hadn't found here, then i wouldn't have known where to start. whether it is just a cup of tea, a chance to meet others in a similar situation or an offer of legal advice, this group of parents all have children with s

officer mark parker will be seven to next year and replaced by board member and former ebay ceo john donahoes online. mark barker —— mark zuckerberg will be facing... last week a court of its initial support is backed out. regulators have said the crypto currency could pose a risk to global financial stability. they are also questions about the safety of a currency run by a social media company that has put people's privacy at risk. the bbc‘s some mira hussein spoke to the head of policy for the libra crypto currency. why do we need digital currency? if you think of what digital critter currency can enable, if you and i wa nt to currency can enable, if you and i want to have something, the cost of going through many intermediaries, that almost serves like a drag on the global economy. how confident are you that you will be up to get this through to regulators? financial legislation of this scale where describing and the kind we are describing is not in contest with financial oversight regulations and rig into around the world ought to support low friction high—security payment systems. faceb

so john donahoe leaving so quickly, maybe that's why we saw a knee-jerk reaction yesterday it's downterday bill mcdermott is an executer, one of the highest quality ceos out there. maybe that's delayed concerns after his interview on "squawk on the street. >> my hometown team, first world series game win for a washington team since 1933. >> really? that long ago? >> when the giants beat them in that world series, but it was a good night for old d.c. >> congrats. do you know who it's not such a good day for beyond meat. it went below 100 in a session today. stock chart, it's below 99. >> all right thanks for watching "power lunch. >> "closing bell" starts right about now. >>> welcome to "closing bell." i'm morgan brennan infor sara ei sechlt n at nike post broader market as well, falling below the flat line. dow is down 26 points, 59 minutes left until the close, and a crush of earnings after that bell. >> and i'm wilfred frost good afternoon let's look at what's driving the action today, disappointing earnings like those from texas instruments are stoking global growth concerns. desp

he will beeplaced by nike board member and ceo of service now, john donahoe bringing a heavy focus of digital. parker has been ceo since 2006 and been with nike four decades. he will become the company's executive chairman. shares were volatile following the after hours news and closed the regular session down a fracture smun at 95.60. >>> and there is a change at the top at underarmor. ceo and founder kevin plank is handing over the reins living the new ceo to complete the can company's turn around. the news sent the stock up maren more than 6% in the session. courtney reagan reports from the headquarters in the baltimore. underarmor a new ceo in the new year oy the second in the company history. founder and current ceo kevin plank transitioned to executive chairman and brand chief on january 1st. as president and chief operating officer patrick frisk takes over the top job. >> the first and foremost this is my decision to get to this moment of the ability to work and have enough partnership where patrick and i kmeme each other well and the ability of the business as we said last tim

and that's john donahoe. he is absolutely the right leader for nike and what we're looking forward.e's the proven ceo of three successful companies he's no stranger to nike and we feel that he's actually the best choice to come in and actually usher this next wave of growth for nike. he's an extraordinary talent he's been on the board, so he's very familiar with nike over the past five years. we've worked closely together on the board. but also, just as part of our strategic planning process, so he's -- john's been very involved with the senior management team outside of the board process, and into the strategic planning process as well particularly around digital transformation he is -- he's coming in with a lot of experience around consumer digital enterprise technology, global strategy, leadership he's a great developer of talent he really clicks a lot of boxes that we're looking forward to add horsepower to nike we've got incredible horsepower already, but john comes in, adds horsepower, and i think he's going to help us accelerate our whole digital transformation and some of th

guy donahoe, a veteran tech who once headed ebay, now currently chairman of paypal, ceo of an i.t.software company. his tech experience dovetails nicely with what nike is trying to do. they want to be an apparel and shoe company that really wants e-commerce and digital presence to be critical. rishaad: the move towards technology in all this as well. how does it work? faster? make me run >> they recently opened two futuristic stores in new york and in shanghai. to get the full experience in those stores, you have to be on its app as a nike member. from there, they can track your spending. very key to what's happening right now, data. when you know what customers are buying, and more importantly how to push sales to them, and using a.i. to do that, that's key. is, is where the emphasis where nike, it makes sense for them to hire someone they know well, on the board since 2014 and now has tech experience that really aligns with what they are trying to do. the only wasn't athletic retailer -- under armour's founder is stepping aside with its president assuming the role. let's listen t

. -- here with more is cory donahoe. -- is courtney donohoe. inrtney: major drugmakers avoids.settled to facing trial. canadian prime minister justin set to retain a majority inhout parliament. the president of chile has a stark message, that the country is at war, and called on people to choose sides. chile's copper union has called for strikes. at least eight people have been killed in santiago. the violence was triggered by higher public transport fares. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. guy: thank you very much indeed. still ahead, more insight on brexit and the prime minister's brexit deal. is it a good deal? adam marshall, director of the british chambers of commerce, will give his perspective. this is bloomberg. ♪ romaine: -- guy: from london, i'm guy johnson. romaine: from new york, i'm romaine bostick. this is the european close on "bloomberg markets." it's time for a bloomberg business flash. netflix selling about $2 billio

turned to former had john donahoe to be its next ceo, replacing mark parker.pany wants to double that. , investigators have partially blamed the design of the boeing 737 max in last year's deadly crash. of lion air flight was one two. meanwhile, the head of boeing jetliners division has stepped down, the highest ranking executive to leave since the crisis began. china's state-run cctv sticking to its blackout of the nba. it's sports channels did not air the nba game, the first time in a decade. cctv launching its boycott when the general manager of the houston rockets tweeted his support for pro-democracy demonstrators in hong kong. tom: single best chart is a stock chart for wework. wait a minute, there isn't one. a morning must read from tim called when. it is absolutely brilliant, about when you have to account out a train wreck like wework. this essay should be required reading, cfa level one. wework from a passive investment to an associate, southbank no longer needs to deal with fair value accounting, the true mark to market value for wework every time t

john donahoe will take over next year as the company looks to sharpen its technological edge.hery: first, let's get you started with a quick check of the markets. we are continuing to see pressure on u.s. futures which are down 1/10 of 1%. this after we had the major indices finishing in the red. the s&p 500 lost 4/10 of 1%. we had some weakness for the tech sector offsetting the rally we saw in energy companies. oil jumped after the report of the opec plus discussing their cuts. the dow down to tenths of 1%, while the nasdaq lost 7/10 of 1%. we have uncertainty over what happens with brexit. we had key votes happen in the u.k. parliament. we will discuss that later in the show. we also have a mixed bag of earnings when it came to those results out of the u.s.. 1/5 of s&p 500 companies are reporting this week. we have some solid performance out of united technologies, harley davidson but also disappointment from companies like mcdonald's and ups. let's see out things are shaping up in asia. sophie: asian stocks are set for a mixed start with earnings in focus. off 1.2% after t

those issues had anything to do with it leaving the top exact position the new c e o will be john donahoet may keep more number. >>prosecutors will not be charging 2 around raptors president ujiri for allegedly shoving a deputy after the nba championship game last june at oracle arena in oakland, the alameda county da's office finally announced today that there will be no charges the raptors who were tonight receiving their championship rings this is video from the incident that was right after the raptors beat the warriors to win the nba title. lawyers representing convicted murderer and former dallas police officer amber guyger have filed in his tent to appeal. guyger was convicted last month and sentenced to 10 years behind bars for fatally shooting her neighbor's botham's john when she entered his apartment. she says she thought his apartment was hers. she says she thought he was a burglar in her apartment. she ot him own couch as he waeating ice cream today guyger's lead attorneys said the intent to appeal does not necessarily indicate an appeal will happen but it's basically a proce

parker steps aside as ceo, and will be replaced by one of the company's current board members, john donahoe a lot of news after the bell there. >>> changing her tune. new reports are revealing that lori loughlin might take a different legal approach in the college admissions scandal. ah-ha, what could that mean and her possible jail time? melissa: things changed a lot. elizabeth warren is standing by her claim that the so-called wealth tax will pay for her growing list of proposals. it won't. we're breaking down numbers, doing the math next. connell: doing math. new "star wars" trailer appearing last night. already breaking all kinds of records. melissa: i got my ticket. did you get your ticket? that's a negative. we'll have details coming next. ♪. their medicare options...ere people go to learn about before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why...

tonight about three executive, first mark parker, one of the greats retiring from nike second, john donahoeou know we liked him forever moving up to take the reins at nike and bill mcdermott is coming in to run service now. i want to congratulate all three and mark parker, job well done i always like to say there's a bull market somewhere. i promise to find it for you i'm jim cramer i'll see you tomorrow. >> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ who believes every home cook will want her product. ♪ hi. my name is marian cruz.

the ceo of service now in santa clara john donaho is leaving to become the ceo of nike. they liked john at svice now and the stock moved lower on the bad news. >>> i was talking about existing home sales. it shows a slowdown and you think that would be good news for buyers but looking deep into the data, it's not. it's more reflection of the lack of homes out there for sale and that low supply keeps prices high. >>> today is the day mark zuckerberg will return to congress, talking to the finance services committee ostensibly to talk about lib rah, facebook's new cryptocurrency but i'm going to make that bet that doesn't come up much because members of congress in both parties have all kinds of issues with facebook that have nothing to do as something so obscure as cryptocurrency. >> 03, it's harvard i apologize for any harm don as a result of my neglect, 2006, we really messed this one up. 2007, we simply did a bad job. i apologize for it. 2010, sometimes we move too fast. 2011 -- >> and so son and so on. it could be tougher this time around because he's talking to the h

jim cramer sits down with the out going ceo and incoming nike ceo john donahoe live from the nasdaq inhis. ♪ hey. hey. you must be steven's phone. now you can take control of your home wifi and get a notification the instant someone new joins your network... only with xfinity xfi. download the xfi app today. >>> welcome back to "fast money. the big tech earnings slate continues tomorrow when amazon reports after the bell it's been a iks inned bag for big tech the last few months and amazon the worst performer after a big hit in august and failing to recover underperforming the s&p by % since august and the options market isn't expecting the report to put a dent in it mike, what are you looking at with the "options action." >> the options market implies a move about 4%. less than the 4.7% it average the last eight quarters they reported they are reporting a third quarter, historically the most volatile over the last ten years or so looking at average move of 9% over the period one of the trades we saw is targeting a small move and small range too actually we saw somebody buy three hundr

you trimmed the stock because of this news not because necessarily just mark parker, but because donahoethe guy >> i think great on data and technology and e commerce. that's where your story works if he can get it right. but what does he know about nike, fashion? i don't know how great of a fit it is on the merchandise side. maybe they have a great bench. i think they do. and parker's going to be there r for a while so i don't think there's going to be drastic change but i just kind of feel like at 30 times estimate, i just feel like this is really rich and the risk reward just isn't there. so it's up 28% year to date. had a nice run i prefer under armour as you know that's the one i've been add in to on down days. looking at it now because it's down sxwl i think this could be more upside i know we b probably disagree. i think the stock could get above 100. the fact parker is going to be there, he could focus on market and product. i think donahue coming in is about digital. the same playbook that starbucks utilized it's about getting your online sales which are around 15% for nike the

the ceo of service now in santa clara john donaho is leaving to become the ceo of nike. they liked john at service now and the stock moved lower on the bad news. >>> today is the day mark zuckerberg will return to congress, talking to the finance services committee ostensibly to talk about lib rah, facebook's new cryptocurrency but i'm going to make that bet that doesn't come up much because members of congress in both parties have all kinds of issues with facebook that have nothing to do as something so obscure as cryptocurren cryptocurrency. also the financial services committee got really smart and direct to the point members, the chairwoman is california's maxine waters, she's really tough and new york's alexandria owe casio cortez seeing here questioning michael cohen, turned out to be savvy and a prosecutorial questioner. yesterday she asked twitter, hypothetically, if you were, say, a member of congress sitting on the financial services committee given five minutes to question mark zuckerberg, what would you ask? one of her twitter followers answered "ask him, did

, to take donaho's job bill mcdermont, more than 1100 ceo's have stepped down just this year. their jobs, expressing outrage after a deal would give former ceo adam neuumann and has remained wework will step down from board, shares have dropped 30% from july peak, a lot of folks say because of major stake in wework. check this out. starbucks has unveiled new halloween-themed drink, the phantom frapiccino, looks pretty scary, coconut, mango, pineapple in it, option to get dark coconut with cream on top, here is the problem, only available in europe, middle east and africa, thanks, starbucks, thank you. maria: thank you so much. by the way, morgan stanley this morning is calling caterpillar's quarter a mile -- mild earnings recession, weaker than expected earning and cutting outlook for the year. dagen: i wanted to point something out, something that everyone wants to know, caterpillar stock has wildly performed, so that includes dividends. it underperformed farm and construction equipment by almost 6 percentage points and the broad market, so caterpillar up 8% and stock market

one times you know the man personally met with the vice jim i'm sure a lot of people in this whole donahoe must be wondering what is it like to advise someone a world leader who knows so little about anything. well like i mean 1st of all why the things that really struck me about donald trump when i 1st met him 4 years ago you know that look i would say 95 percent of politicians are you know wonderful piece. bull in public and jerks in private sometimes trump can be a jerk in public but he's actually a really nice guy in private i mean i like donald trump a lot of come to admire him i think people underestimate his intelligence i'd bet his i.q. you know some are going to lap on this i think he's probably got about 100 i.q. the guy is amazing his breadth of knowledge about about you know the world affairs and i want to guy who says it like it is sometimes does he stick his point is malcolm yeah i think we can a country like it's not going to agree that people definitely voted for him because they didn't see him as a conventional politician but when you say breadth of knowledge and cue this

haidi: -- john donahoe.-commerce veteran takes charge of a $40 billion clothing giant but increasingly relies on data and technology to keep exact. he has searched on the board since 2014. he worked at nike for 40 years and will remain on as executive chairman, saying in a memo to employees, "i am not going anywhere." shery: ahead of the boeing unit in charge of the 737 max jetline has stepped down. the crisis at boeing is deepening. su keenan has more on this. this coming on the eve of those third-quarter results. has been have been -- a lot of optimism going into the results with boeing saying it is making progress in getting the regulators to return the max jet area that is now all up in the air. let's take a look at the executive who step down. as you mentioned, three years after joining the -- being in the unit, just as the max jet was coming down. kevin mcallister is the highest ranking departure in the wake of the clashes. we know the ceo, bielenberg, lost his role as the chairman earlier this month.

so john donahoe is somebody who can support that, make that grow.les success, retail success in overseas markets as well as u.s., china included, and in fact, digital revenue for nike, up 35% last year. so this is clearly where the company is going. listen, it does have to fend off competition from adidas, it has to fend off competition even from sellers like amazon, who obviously aren't producing their own clothes, but it's a retail competitor for sure. then some of the smaller boutique names. so it seems like this is a play moving towards tech. charles: so the ceo, the stock was at $50 in february 2016, went to $300 -- deirdre: mark parker did well. that's a 90%, you know, over those years, de wehe did well f them. charles: nike before, you had to be a major sports fanatic and retail person, and now to bring it to technology is phenomenal. >>> speaking of sports, dick's sporting goods, their chief executive may be eyeing a presidential bid. jackie has those details. jackie: yeah, that's what politico is reporting. ed stack is the ceo at dick's, he

those stocks are way down service now was better than expected, went down, because of the change by donahoeng to nike and mcdermott going to service now. i think that you can -- don't need to chase growth there is plenty of growth still for sale plenty of grdrug companies still for sale, eli lilly which did disappointing, merck down because of bristol-myers a lot to buy there a lot of people feel, by the way, amazon really disappointed. i go over amazon and if it wasn't for the fact that they lost a contract, a very important contract, lots of cash flow involved, i come back and say you just literally are looking at amazon being set up for the next big thing, which is next day if you asked me about the most important call last week, it is still going to be intel, that reverberates throughout the data center data center being spent good we'll talk about an acquisition made that people don't realize that liberty has a lot of data center chiefly e-commerce, i should say e-commerce but that's a deal that is for those of us from philadelphia, remarkable, that's bill rouse, the comcast tower, the

don't miss john donahoe, as he leaves service now for nike. the ceo of csx too we'll be right back.th opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. whether your beauty routine is 3or 57,... make nature's bounty hair skin and nails step one. it's the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. nature's bounty, because you're better off healthy. >>> make sure you join us tomorrow we got to go "squawk on the street" is coming up right now ♪ >>> good wednesday morning welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. premarket, largely looking past these weak results from cat and boeing shares of both rebounded from early morning lows big day with zuckerberg back on the hill meantime, the futur