begins now with much more on this developing story around tesla >> we will be following the zoer that elan musk may be interested in taking his company private. it's a $60 billion plus venture, and it would take a lot of financing, and he says he has the financing. meantime, stocks are, again, on the verge of historic highs. strong earnings, a big part of the narrative, but not the only factor here. we'll tell you what's driving the market and whether the rally has legs plus, disney is on deck. the stock is higher ahead of profit reports, and there will be plenty of big questions outside of the results for investors. we will break it all down for you. and navigating trump world many companies have weighed in on the president's policies either for or against, but does it pay off to take a stand on political issues trump or no trump? power lunch starts right now. >> the s&p on track for its highest lows since late january when it set a record high. not every name is soaring. shares of zillow tanking, but revenue missed estimates the company also issuing weaker than expected guidance, and say

it's elan musk saying maybe we should be a private corporation at $420 a share. that's what he tweeted out last week here are the latest developments as you mentioned, the board of directors for tesla has formtd a special committee. that special committee is made up of three directors. brad buss, robin denhomo, and linda johnson rice there is no formal proposal yet. this is the committee, though, that will analyze when elan musk does come forward with a proposal in terms of the details that are being offered up, and potentially if the board decides is it going to explore this on its own separate from elan musk that's what the committee would be in charge of. speaking of mr. musk, he announced late yesterday that he is retained silver lake and

now what elan musk meant by funding secured. president trump going after harley davidson sending that stock lower. did he really call for a boycott? that's coming up on "power nch. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade >>> welcome back elan musk trying to clarify or explain what he meant by that funding secured, but he mentioned in the infamous tweet about taking tesla private last week as you saw, their shares continue to move lower phil lebeau joins us now from

elan musk getting more details on his tweet that he has secured funding for taking tesla private. shares are moving lower right now. the very latest on the drama and what analysts are now saying about the stock. he doesn't just talk the talk. he walks the walk. mike rowe on growing jobs, the skilled worker shortage, and the state of the american economy. "power lunch" starts right now. >> materials and industrials have been the big laggards, and

elan musk getting more details on his tweet that he has secured funding for taking tesla

we've reached out to tesla we are reaching out to elan musk to see if this is, in fact, what he wantedo say, but that was the reason why those shares went higher we'll continue to bring new developments back over to you >> are you allowed to make that statement? >> of course, you are -- funding secured, if it's not funding for what an entire take private transaction? >> right >> i don't know if you are allowed to just say -- >> what's the market >> do you know that they went after -- they went after netflix because the ceo on a facebook page made a comment about next quarter's earnings i don't know if you could just do this. >> you can't >> i guess in trump's america, you can pretty much do anything. >> this is from the verified account of elan musk on twitter. we're still in the process of verifying whether he actually tweeted it himself, and we're continuing to do that as we speak. let's take it at face value for the -- >> a, it should be -- if you are going to do that, you should request a halt from the exchange does anyone disagree with that >> so you have -- >> i think it's a hack

look at the five largest shareholders in tesla, you've got elan musk at about 20% t.price, 9% stake. fidelity, 8.2% and ballie gifford, 7%. and tencent, with a 4% stake >> look at the sovereign wealth funds that are out there, there's a lot of money sloshing around out there, norway is a trillion dollar fund, china investment, this is a mean one for china. it the goal states have multiple investment funds, but abu dhabi with 683 billion, and saudi arabia has $250 billion. so you could potentially put something together in that the top five existing shareholders stay in, and then you get some sovereign wealth fund manager, maybe they take a bigger stake >> there couldn't really be debt because there's no way to pay it down or ebita. musk would roll in and have -- >> scott, we have tweets to go on and a board statement, and i'm reading from a jpm report this morning, either funding is secured or it not secured and tesla's ceo says funding is secured. scott thoughts on that >> well, you know, i think that it's a pretty interesting time to be in the automotive industry an

more now on elan's plan to take the company private. hey, phil. >> hey, morgan i this i we're in the period here where we might start to hear from more of the analysts on wall street about what they think about the last couple of weeks. they largely have been silent since the initial tweet that was sent out august 7th and today we've heard from a couple of firms on wall street expressing some concerns about what the future holds for tesla specifically whether or not this company will eventually go private. elan musk and the directors, meet, are preparing for the s.e.c. there have been reports, though not confirmed by us, that perhaps as early as this week they might be talking with investigators from the s.e.c., and, again, we have not been able to confirm that, and, finally, the stock slide, well, it is at least slowed down a little bit today it dropped as low as 290 and came back to over 300. there you so he it right now trading just under $300 a share. with regard to what's happening with the saudi investment firm and the potential i

also being made in minnesota in the fifth district with the democrats there nominating representative elan oma, a somali american running for the seat there. and keith ellison won the democratic seat for minnesota attorney general, despite allegations of domestic abuse coming out against him. he denies those allegations, but the dnc will begin a review. >>> and finally, one week after the kansas primary, kris kobach is officially, officially the winner of the republican nomination for governor. incumbent governor jeff colyer conceded last night after absentee and provisional ballots extended kobach's lead to 345 votes out of 315,000 cast. really close. >> yeah. that's a win for president trump as well, who endorsed kobach at the last minute. >>> and the trump campaign is filing for arbitration, claiming that omarosa manigault newman breached a 2016 non disclosure agreement. it is the first legal action sense omarosa published a tell-all book about her time as a senior adviser to the president. it comes less than 24 hours after mr. trump declared there are no tapes of him using the "n" word

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. >> tesla ceo elan musk announced the electric car company will stay public. in a blog post late tonight, the billionaire said the decision comes at the urging of the board. the future of the company has been on a roller coaster since early august when musk tweeted he was considering taking the company private. you can read about it on abc news.com. >> traffic moving slowly in hayward after 880 shut town for hours about 12:30 this afternoon. orange smoke could be seen rising into the area. sky 7 shows the traffic buildup as crews rushed to mop up the acid spilt from leaking containers on a truck. drivers were tuck. -- stuck. >> we've been here for four hours. it is horrible. >> shelter in place was ordered and that included southland mall. a few hours later it was lifted. no one was hurt. we sent a breaking news push alert at 4:57 tonight when all the lanes opened on 880. download the at-bats news app and unable push alerts. >> santa clara investigators are asking for your help finding a man who tied up and robbed an 83-year-old woman at home. our reporter spo

the one-year anniversary of the deadly white nationalist rally, a group of more than 100 protestors elan antiracism rally and march. >> this is our place. >> a line of police briefly cordoned off the area where 32 , ar old heather haier was killed last yeher mother and a group of people were allowed m to the street and gathered around aemorial for her daughter. newsur pj tobia joins us at hie start of today's march. >>day so far has been marked by unity and protests. hundreds, maybe thousds on the reet already, more than 30 groups have assembled at different s around washington d.c. to protest jason kesler's white civil rights rally that will be starting in a few hours here. groups as diverse as black lives matters and women's marchers to more radical fringe left wing groups like antifa. behind me is grp of protestors in lafayette park across from the white house. they have a pa system, they are protesting and chanting and singing. on my right is an empty spatial right now where jason kesler and his followers will be arriving soon. they are building a stage and constructing a pa system a

elan musk has talked a good game and made a lot of promises but we still have some trust issues aroundnt team and the time frame they want to deliver on we don't want to back away from those criticisms. >> criticism is a part of this story, robert. david mentioned naysayers, they have big -- continuing to get burned here with a stock up 10%, and yet you talked to some investors that are shorting this company and they have more conviction than ever they point to the accounting issues, they point to the cash burn, they point to the legal issues and some of the accusations around engineering and accounting does this go away? >> i think you have. well, air rk, a, that is the m contentious stock i have ever covered. but if you have one that's dug in and stays dug in and says there's too much competition, maybe people don't even want that many electric cars at the own end of the day and that's why it's key, i think when they start making money in the second half and then thereafter, that is an issue because their whole basis is oh, they can't make money. and there's this whole issue is they

. >> this is elan. you are from the peninsula.ut you go to school at nyu and you go to school at colorado college. how do you two come up with the idea to come up with an app call dormsy? what happened? >> we started college last year. we were just face timing one day. and we recognize there was a need for help for students to help them with chores like laundry and cleaning. we decided we wanted to tackle this market and solve the problem for a lot of students. >> so you come up with the an app called dormsy. how does it work? >> it connects other college student that would like to have the jobs done. we offer everything from college dorm room cleaning and errand >> tell us how it works. explain because i'm -- do i have to be a college student to use th you have to be a student. that will is one of the safety features of the and '. would you use -- of the app. you would use your college e- mail. and you select what features and what would you like in your room. and you can select how dirty it is and how many rooms need to be clean

. >> elan musk has a lot of big ideas. what engineers have to say about his new plan to link dodgers stadium to hollywood. >> the bay area facility nursing this eagle back to health. this is not a bed. it's a revolution in sleep. the new sleep number 360 smart bed is on sale now, from $899, during sleep number's 'biggest sale of the year'. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to put your pedal to the metal. and now, all beds are on sale. it's the last chance to save 50% on the new sleep number 360 limited edition smart bed. plus, 36-month financing. ends labor day. sleep number. proven, quality sleep. monitor their blood glucose every day. which means they have to stop. and stick their fingers. repeatedly. today, life-changing technology from abbott makes it possible to track glucose levels. without drawing a drop of blood, again and again. the most personal technology, is technology with the power to change your life. life. to the fu

we saw the latest technologies in action of the florida cap elan -- decathlon competition. i'm proud to say that the university of nevada las vegas was represented as a finalist. you have to throw in something for the home team. gathered again in las vegas, nevada for a transportation innovation summit where we were hosted by the consumer , theology association world's largest technology , and heard from thought leaders about incredible advancements in a thomas vehicles, electric vehicles, ridesharing, and drones. we took rise in a tom and the shuttle and it was my pleasure to be joined by governor bullock as well as governor snyder who is with us today from the great state of michigan. at our nga 2018 winter meeting, i was still that ibm ceo ginny ramadi join me to in -- to discuss innovation and strategy andepair the work force give us all the block chain for dummies. a lesson we have all been too afraid to request. total, we engaged more than 150 officials from a total of 39 state and help them develop ideas for key actions to implement back home in our states. we also e

there was no formal plan that was introduced all of this has to do with a series of meetings between elanusk and the director of the saudi sovereign funds. the most recent of those happening on july 31st he explained tesla has been approached several times by the saudi sovereign fund elon musk writes, i left the july 31st meeting, with no question that a deal could be closed and that it was just a matter of getting the process moving, this is why i referred to funding secured in the august 7th announcement that wasn't an announcement, it was a tweet on twitter in which he said funding secured $420 being the price tag. if you were to factor that out, that would be a premium to tesla's current share price. getting a valuation of the company at about $70 billion if you bought everybody out, most of the people in his estimation will stick with tesla. it wouldn't cost $70 billion for him to take the company private. one other -- whether he was acting as ceo of tesla, some fiduciary responsibility for the company. he writes, to be clear, when i made the public announcement, just as with the blo

drip, drip, drip those are the details from elan musk teasing out new details on its call to take tesla's board taking a major step to check out his bold plan. we'll have the latest straight ahead. >>> trade tariffs and china. we're going to speak to a harley davidson dealer about the impact of the trade war and also president trump's tweets why one expert says it may be time for america to walk away from the negotiating table with china. >>> as the return of the ultimate power lunch yes, the iconic four seasons in new york set to reopen after

it's looking more and more dire for elan musk, and with funding secured, still in doubt, can tesla go it alone? >> later, guy adami is stepping up to the plate. there's one energy stock that's up 150% in the past year, he thinks it has more room to run he'll give us his fast pitch live from times square, new york city there's more fast money right after this at u.s. bank, we believe one small change can echo throughout an entire community. that's why we proudly support, invest and volunteer in communities like yours. because the changes we make today... can you hear me? ...shape the possibilities of tomorrow. u.s. bank the power of possible. you mighyour joints...ng for your heart... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally discovered in jellyfish, prevagen has been shown in clinical trials to improve short-term memory. prevagen. healthier brain. better life. designed to save you money. wireless network even when you've got serious binging to do. wherever your phone takes you, your wireless

Élan public policy concerted film. he represents away.we are excited to head him with us this evening as well. we are excited to head him with us this evening as well. before i talk about the book. we had four days of celebration. also the movement he is part of. i'm good to gonna say a few things about what happened there this week. they had been doing april 4 ever since. for 50 years. it was a huge shock. i will tell you a little bit about myself towards the end. i can recall easily what it's like. they were on a wild rampage during the strike. there was huge movements in the community. and the police really were taking revenge on young black men in particular. a teenager broke in the 70s house and the police came someone called. shot him in the back and kill them it was all legal. there was all kinds of shootings going on like that. so they can into it like that. another incident 16-year-old elton hayes got into a car chase with the police and by the time the cart crashed 16 police officers surrounded him and beat him to death. that wa

the wildest moves in the history of mergers and acquisitions it's come from tesla's chief executive elan musk who says he's considering privatizing the electric company to taking it off the stock market musk says he's secured funding to buy all of the firm's publicly traded stocks at four hundred twenty dollars each that would value the company at eighty two billion dollars he made that announcement on twitter on tuesday interestingly just a few minutes after the financial times reported saudi arabia's sovereign wealth fund had taken a two billion dollars stake in the company. but so too william cohen a writer and former mergers and acquisitions investment banker he is joining us from nantucket in massachusetts nice to see you william. as much as any one could get inside the head of someone like a lawn musk and wonder what he's thinking what do you think he's thinking here. she said that this this is a stunner even by iran musk standards because i mean he's basically at the moment he's manipulating his stock price by claiming that he's got a fully financed four hundred dollar four hundre

. >>> tesla ceo elan musk said this has been the most difficult and painful year in his career. >>> thinkingthe one message that a bay police department is hoping to spread through the lip-synch challenge. . >>> the lip synch challenges have swept through country. but san francisco police department took the challenge and they have took part because hoping to spread a message. there were shows a man about to shoot himself. it depict people depressed and distinct and the police. >> this officer has saved a life with narcan before. >> reporter: law enforcement agencies are having fun create something slick results even enlisting celebrities for their production. >> if we get one view or a million views, answers the person that is in crisis see it. >> reporter: they said they were serious with their lip- synch challenge. >> >> i was recognized by four people at the coffee shop. it was quite an experience. once we got into it. it got easy actually. >> it was enjoyable. the mental health message is also aimed at law enforcement and officers in distress, their lives at risk too. >> you are nearly

dssino tambien mucho u cuidado porque en la florida los carros saque de esquina pe pasan >> hay limites elanhay que asu r asumir, pero tambien se aprov h aprovecha el regreso a calslas e een el comercio porque hay gente que necesita informacion privada y t te pueden robar la idaentidad >> asi es, lo primero que hay que proteger es el numero de seguro social y yo andaba con el en todos lados,. >> perfecto. >> muy bien mientras tanto vamos con jessica y francisco con las notas mas m importantes de la farandula >> gracias y bienvenida nt nuevamente para ti, y que te p c parece que hablemos lesionado que pade lo pasa en el entretenimiento >> sorpresa para todos y no muy agradable es que gloria retrevi su esposo armando estan separa separados segun la revista tv t tvnotas de mexico y dicen que r armando se fue de la casa donde vivian en macacallen texas por celos, se descarta un tercero en discordia >> hay que esperar que confirman >> suenan truenos de guerra e r entre yolanda y noelia por un mensaje de texas que mando a su hijo para acercamioenacercamioenento pero le recordo a yoalanda que s bip

investigating how an airline employee stole a plane and crashed it >>> tesla meeting to discuss the elanea to take the company private. ♪ >>> good morning and welcome back to "squawk box" here on cnbc i'm joe kernen along with michelle caruso-cabrera and andrew ross sorkin i love it when we have everybody with three names >> except you. >> i'm joseph richard kernen becky is off today our guest host today, jason trenert. chairman at strategis. what's your middle name? >> richard >> mine too. u.s. equity futures at this hour, down 62. near triple digits i think early on the other markets around the world are taking it on the chin a little bit from the big global market driver this morning and that is the turkish lira which i think tried to come back a little bit but nasty again. turkish president erdogan right now addressing a group of ambassadors to turkey. it's better when his central bank guy talks when he talkings, he says crazy stuff. what did he say? >> all kinds of things he likes to say that higher interest rates cause inflation he says this is economic war all the problems in turk

and hoping to follow in the footsteps of katherine jenkins, welsh singer elan parry who atjust 15 willr foreign secretary bosch johnson over comments he made about women who wear burquas. he broke that those who wear the fullface veil look like letterboxes or bank robbers. theresa may has asked him to apologise. but a senior muslim peer says that doesn't go far enough. i don't think an apology is enough, we need more severe policy. take the whip from him, why not? police have launched a murder inquiry following the death of a seven—year—old boy in a house fire. joel urhie died at his home in deptford, south—east london, in the early hours of yesterday morning. two women jumped to safety from the first floor of the house. 0fficers believe it was arson but joel was unlikely to be the target. kellogg's and kfc have been found to have breached advertising rules after complaints were upheld by the advertising standards authority. kfc‘s advert was placed near a school, while a coco pops granola advert was shown during a cartoon. rules state that companies cannot promote foods high in fat, sa