our david faber is standing by on the floor with special guests. >> yes, we have them, in fact.hat's right david. the ceo of discovery and ken low, the sikh of scripps you have been long time friends and have talked about doing a deal like this in the past so, ken, the question to you, why now? why did you decide now is the right time to sell scripps and to follow-through and get the deal done? >> i think since the last time we were together, fortunately our companies continue to grow and we expanded internationally. we also very much like discovery. we pivoted from a linear television company to more of a digital content origination company. and now just seemed like the right time and i have to say it's a historic day for the stake holders, scripps family, publ public investors most importantly, david, for our employees. this gives them a much bigger company from which to operate. a platform to reach more consumers around the world so it's a great day for scripps. >> when you say it seemed like the right time, i mean, we all know is a tumultuous time in your business. there is

that's a statement i tried to tell that to faber. it was hard to get out in other words, netflix is an entertainment company but is being valued as a tech company as money managers believe it's all well and good to lose money now if you're going to dominate later. enormous success, negative cash flow when i listened last night i was stunned by the buchl seautiful simplicity almost as if hastings said there's an equation. the equation is the number of people on earth times the hours of free time they have, minus the requisite current use of that free time, equals the opportunity to provide programming that people love via the internet this man simply solved x, the programming people want. once you get people hooked by the bargain of lower than quality price and the negative flash flow netflix can analyze their usage data to give them even more of what they want. in essence the company created entertainment, the artificial intelligence intelligence that comes from usage data. a habit that can't be kicked netflix the new opioid for the

it's all negative for apple, but david, i want to be a faber report >> you do?ou're not allowed to do that. >> abercrombie and fitch >> why do you want to talk about abercrombie a abercrombie and fitch? >> people were speculating there was going to be a deal, now it's off. perhaps because they are supposed to lose a lot of money. thermal based. >> they say, jim, they are generating solid comp store sales momentum at hollister, solid momentum >> happy hollister >> solid momentum. those are the kinds of things that sears says. >> sears saw more k-marts. >> announced more closings on friday, it was straight forward about their suppliers and trying to get everybody and their financiers to have more confidence. >> well, more credit lines, seem to get a credit line every couple of days >> that's the key question >> if they close all the k-marts, would the stock go higher >> much, much higher >> you know what stock is in good shape mcdonald's mcdonald's is a key to this market >> really? why? >> why because if you have a good growth story of which mcdonald's has the be

i'm carl quint nanilla with dav faber. strong earnings, watching the senate as mccain returns for a health care vote the president tweeting and pressuring jeff sessions futures are up germany is strong, another record high. ten-year works its way back to 2.3. and schiller up. caterpillar, mcdonald's among the big dow boosters premarket. >> alphabet shares sliding premarket, google's parent company reporting an earnings week but profits hit by a fine from the eu. >> jeff bezos, trump takes to twitter, blasting amazon yet again. 3m, dupont also reporting. also out, lily and gm. metals are getting a bid today copper trying to break out. >> that's exactly what i thought would play out caterpillar, this international would pay out. i'm surprised that the united states is so strong here construction equipment, that's exactly what you want to see for energy, for transport. north america, incredibly strong latin america better than i thought. construction is just on fire you've got a tremendous, tremendous story here where the num

reporter: among the many highly specialized firms is faber instruments.ith its surgical tools, they have developed a breakthrough silicon handles. once again, the u.s. is the biggest market. the company is counting on other markets like brazil and india to take up the slack should trump close a door to the u.s. they also have another plan. >> if trump closes the borders, we can no longer survive united states are finished products. but we could deliver components to our partners in the u.s. like the auto in history does. -- auto industry does. it could then be assembled in the u.s. reporter: brown is another firm that has long been active in the u.s. it has factories around the world including the u.s. >> we think we are well-positioned in the u.s. we already produce 80% of the goods we sell fair in country and we're still investing. even before trump was elected we had already decided to put 200,000 new euros into business. reporter: manufacturers of high quality medical technology products in germany also have a long track record of innovation. a major

we want to do a little faber report can do that?you ahead of time and you're a great actor. >> we make sure not to discuss things so we can be real in the moment. >> let's see in the moment on charter. let's start off there. it was up 7% at the open still up 5.52% that's a big move for charter. of course this on news late friday first we got it from the journal that sprint was interested in trying to figure out a way with of course it's majority owner softbank to acquire charter. then last night we got a statement from charter and we understand why a deal is attractive from softbank but charter has no interest in acquiring sprint which of course is weird now sprint is a third of the size of charter. a more competitive business. you saw the charter numbers from last week. they were strong and the market reacted accordingly. chart her said we have a good relationship with verizon. intend to launch wire lesser s wireless service next year well, masa is trying to understand and figure out a landscape in which he can secure a future for

. >> we can argue with faber holdings of their arguments on both sides but it's if you were the adviser to a congressman and who said i don't like this idea i take we should limit that. sold used that same language ? it has been consistently understood under the limits of article iii a and you say don't worry. and he says i feel relieved now we can use this link which her probe would he be fired? [laughter] >> but i think it is not just follow what is required but that is the express of the interest of that implicit doctor in with that doctor and is only guided to what congress implicitly thought without bloch case. and even before that the court says that you need a express vacation by congress. >> but they less-developed because it is understood over what it had been before. in that is to facilitate so that blocked before 1988 and then do it also would be fired in the hypothetical that that house report says there are only two things that they have the judicial standing applies to the same standard. >> i don't view it that way but that does refer to those particular aspects but it see

. >>> in deal news, viacom has told scripps an all-cash bid it yesterday david faber reported that the skscripps family want cash deal. >>> and citi moving higher yesterday. they say restructuring is over and his new earnings targeted supported it, their first investor day in nine years in particular earnings targets in terms of planning to return over $20 billion in cash over the next three years to shareholders and 11% roe target and 20 efficiency target in the low 50%. which is well ahead of analyst forecasts. ceo even spoke of a $100 stock price target analysts say this is ambitious and speaks of the growing confidence that he has in the business i'd say in terms of valuation, citi of course have had astruci financial crisis and that's why valuation compared to jmpt p mopmorgan. so again you can see the potential for citi to play catch up taken very well by the market yesterday. up over 2% and on a programming note, don't miss jim cramer's exclusive with the citi ceo tonight at 6:00 p.m. we've been starved really of access to them in a media sense for quite some time. >> and you we

i'm david faber along with jim cramer carl quintanilla has the day off.ake a look at futures as we set you up half an hour from now for the day's trading. looks like a slightly lower open european markets, you ask. we answer, will we also include spain and italy? yes, we do. >> on a roll now. >> i know. i know. >> mixed bag over there. worst performer is spain's ibex 35 and there's wti which i know my partner here will have a lot to talk about he almost always does. it is often a key to this market, down this morning. let's get to our road map this morning. it starts with the start of amazon shopping holiday, as the rest of retail suffers >> plus a number of recent ipos that have fallen below the bear syndicate what their pricing was, what it means for the valuations and rest of the companies that want to go pep. pepsico is out with its results as earnings season begins. we'll speak to the company's cfo on set in just a minute. >> amazon prime day is under way. the company highlighting deals aimed at enticing customers to become prime subscribers as a num

i'm carl quintanilla with jim cc cramer and david faber. netflix surge. stocks open higher as a big beat. >> shares of goldman sachs are falling in the premarket despite what was an earnings beat. >> dropping plans to replace obamacare. what that move means for the rest of the trump agenda, issues like taxes and trade first up, netflix is poised to open at a record high. sub growth coming in much better than expected in the second quarter. that news overshadowing the earnings miss. reed hastings on last night's earnings call. >> anything notable beyond 5 million net ads in q2, all-time record for q2, up sequentially from q1. i think we're seeing the rewards of doing great content, focused on the quality of the service are paying off. >> more than 1 million added in the u.s. alone estimate was for like 600 k. people are wondering whether or not the shows are pulling subgrowth demand forward we'll see. >> i have to tell you this is one where i really -- this was a joyous conference call it was a great presentation. i found myself uplifted. i come back after

but peltz spoke with our david faber earlier and stressed the need for flesh blood at p & g. >> do you have people at p & g, for the most part -- not for the most part, but 99% who have never had another job but p & g. you should have a soft target that at least 25 of them come from other companies because these guys know the playbook at p & g. you know what they are doing when they solve a problem? they are talking to themselves. >> this has historically produced recent returns. he announced a $1.6 billion stake in dupont four years ago it's up 63% since then he put money into sysco since then and $1.3 billion stake in pepsi that he kpiexited from ma of last year his biggest stakes are trading in the red $2.5 billion investment in p & g is down and he announced more than $3 billion stake in february scott? >> jim, you guys talked to peltz, obviously, you, david and carl he said that the company hasn't lived up to its potential. they are losing market share he pointed out in the context of this particular conversation, he said when he gets on the board of a consumer products goods comp

i'm carl quintanilla with sara eisen and david faber.n to start the first full day of the second half of the year dow is down 38 points. we're watching that closely. geopolitics to watch as well. >> that is where our road map begins for the hour. markets kicking off the first full trading day of the second half of the year in the green. shrugging off geopolitics as north korea launches its first sbo intercontinental ballistic missile. >> president trump leading for the g-20 summit. what's on the agenda. >> volvo going all-in on electric the details on the automaker's plans straight ahead. >> economic data coming our way. let's get to rick santelli rick >> doesn't it feel like a monday but it isn't here's all of the data points that you really want to be paying attention to. factory orders for the month of may expected down half a percent, down a bit more, 0.8% and lost a 10 from minus 0.2 to min minus 0.3. may final all the may reads tossed out, mid-month reads on michigan down 0.8% as well. that's close to expectations and the last time

but other than david faber who covers them for a living, i think i may be the only who cared. most people haven't heard the first two. i think people think vanta is a cigarette brand. the fact is, without more deals, this market lacks a natural defense against the bears. there is no penalty whatsoever for being short right now. even being short tesla the ultimate bear slayer i have a lot of other fears. a long laundry list i could go into suffice it to say other than thermal nuclear war, you could make a laundry list back when i started in the dow at 1,100. if thelist of worries is alway there, you're always prepared. remember, preparation for the worst is always part of the game it just isn't and can't be the only part, despite what the twitter might try to tell me, how the movie ends tom in florida tom? >> reporter: hi, jim. >> yo. >> reporter: i've been following the costco situation in light of amazon's proposed acquisition of whole foods. my question is, did amazon make a mistake by not going after costco instead of whole foods? because costco has more stores, a much grea

trump's disdain for cnn a wild card as the justice department mulls the merger this comes as david "fabereport"ed today could close within 60 days >> this is unprecedented in term of the plitization of our media in this country and it's frankly very scary, except for the fact that i think you have to give people the ability to see through what part of the media and both sides, i think there's a clear case to be made for somebody overreaching. tink real issues is that they traded to levels on valuations that historically significantly higher because people are expecting them to move into higher territory immediate yarks con tenlt tent et scetera part of the reason why at&t and verizon, they killed each other wireless and broad ban that's the biggest problem for these stocks now this deal i think will go through. >> it should be free and fair markets. it will impact that could evaporate quickly if you have unfair markets. >> i think if a deal goes through, it's probably 6% to the deal price left in time warner i'm long monosanto 11% to the upside. nxpi is already in that's 110, so not much

our david faber did ecried that. the stock's starting up again.hey are beating that somebody could be talking to these guys maybe it is conagra. maybe it is somebody else. or maybe the stock's going to have good earnings take a look at conagra calls they were buying december $65 calls. what did i do? i bought the calls i'll probably be in there anywhere from ten days to a month. >> pinnacle has no comment on these rumors and reports >>> you got an update on vips? >> yes nice one yesterday pete talked about vips stock gets in here, pops all the way to $1,245 this morning right there. here's where it was when pete was talking about it yesterday so very nice move already. these calls, more than tripled they went from 27 cents to 90 cents already. i guess he's taken off half. i'm out. no position here right now >> come on back over here. >>> up next, the apple trade details on the next iphone jpmorgan's rod hall is with us back right after this.nge, and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in cli

who is prepared to testify in faber of simpson's parole and what his plans are for the future.hey don't let them out willy nilly. where are you going to live? who's going to support you? he's willing to do that. the person who he's going to live with is going to come and say that. >> he's been a model prisoner. >> this has been done by 11 factors that the board considers. it's a grid. and by all estimation, the lower the score, the lower your risk. any person in his situation, the percentages are that 82% of people in nevada will get paroled toward their minimum sentence -- his is a minimum of 9 to a maximum of 33 if they were in his situation. >> how long will it take a decision? >> very fast. they'll have a hearing, recess very briefly, and come back with a decision. >> thank you very much for being here. we'll bring you the live coverage in a cbs special news report. it's scheduled to begin at 1:00 p.m. eastern, 12 p.m. central. >>> the detwiler fire has burned more than 38,000 acres. that's larger area than washington, d.c., to put that in perspective. it's destroyed 29 bui

. >> so this goes back to faber.hat you believe about fundamentals in the marketplace, no matter how weak you think the dollar s it's not a dollar story it's a euro story. the real underlying motion is they'll buckle in december. >> the goal is to build the ecb balance sheet. that's how they're going to back door it. >> is there any other end game here that makes any economic sense? >> no, this is right out of the play book. they're following the play book. >> so he they get into a heap of trouble where there's only one escape hatch and they know what it is. >> exactly. >> like chicago and illinois isn't it possibly the next ecb president that would placate the germans they'd like nothing more than to have atz the head of the ecb >> which means the markets might still be built on sand but the castle can still go higher. >> of course. >> thank you. >> you don't find it. >> squawk on the street. back to you. >> let's send it over to what's coming up on squawk alley. >> that tesla model 3 role out the stock has been sky

last several months it had been about 50 it's about once every five years i pick a fight with david fabert out, david, it was the academics who laid the groundwork for quantitative easing operating at zero bound well before there was any threat of it and it was the academics who identified it in the midst of the crisis. i'm not saying gary cohen could not run it but many have acquitted themselves quite well. >> actually, steve, i was not criticizing them earlier i was making it a distinction. jim had made it more substantially between the academics and what mr. cohen would represent if, in fact, he became the fed chair. >> my apologies. i was listening on the radio my apologieapologies. the question still out there how would a guy on wall street have operated differently? at one point he may be thing about this took them a little bit of time to begin acting, something bernanke eventually acknowledged you remember jim's famous they know nothing, they know nothing, and it took a while, and they indeed took into gear. >> what was your take on the political story regarding cohen, that it's vi

remember mark faber the doom and gloom guy, scariest german said, markets are going to fall!f people said that is odd, he sounds like arnold schwarzenegger who, wait a minute. your impression is is horrible but that prediction still stands. why. after this. at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. ...nausea, heartburn, when indigestion, upset stomach, diarrhea! nausea, heartburn, indigestion, upset stomach, diarrhea! here's pepto bismol! ah. nausea, heartburn, indigestion, upset stomach, diarrhea. neil: now we have a date on it. tesla set to deliver its 35,000-dollars model 3, this would be a smaller vehicle than some larger ones out there, on j

i'm carl quintanilla and david faber. jim cramer is off today.es just short of the flat line today we'll get high-profile upgrades of walmart and boeing. and rates and the economy. europe is mixed, and the ten-year yield did fall below 2.3 on the third miss in a row largely better than expected from jpmc and wells and earn,s season kicks off. >> a big week for retail walmart gets an upgrade from goalsm goldman sachs. >> financials are driving, but is the real consumer economy primed for a rebound >> jpmorgan chase falling despite posting better than expected quarterly results the bank got a boost from lending but hurt by weakness in trading. jamie dimon says, the u.s. consumer remains healthy, evidenced in our strong underlying performance in consumer and community banking wells fargo with an earnings beat and a revenue miss and citi exceeds on the top and the bottom line. all these names have had quite a run since the election not hard to know how much they deserve today in light of what the macrodata said >> the results would give me the messag

. ♪ >>> i'm carl quintanilla with jim cramer and david faber at the new york stock exchange.utures pretty steady, as we await yellen on the hill, day two. we'll get a cbo budget score, a new senate health care bill, president's in paris, lots to watch. europe's mostly green. yields ticking up a bit. ppi up 2% year on year, just above expectations the fed chair sparking a strong rally on wall street, the second day of her testimony begins this hour on what is shaping up to be a busy day in washington >>> plus, the president is abroad, he's in paris for his third foreign trip we're going to hear from him multiple times in the next few hour >>> what retail pain target boosts its outlook as traffic's improving. >>> and a live and exclusive interview with the cbs chairman and ceo, leslie moonves in the next few minutes >>> busy day on capitol hill fed chair yellen returns for a second day of testimony, later in this hour, this time before senate banking her comments on rates sparked the dow's rally to that record high also this morning, senate republicans set to unveil their revis

companies so that they will include your channels in those skinny bundles but then david told our david faber can create his own skinny bundle and sell it for $10 a month or something like that. is that a likely possibility, does that make sense to you? >> i think it can make sense one of the things i would think about, though, is maybe they join with some of the a&e networks, history, lifetime, a&e channel and others to form a larger group of non-sports networks that can create maybe a not so skinny bundle at a price point that makes sense and can be anywhere from $4.99, $15.99, depending what you have in there. the thing david is focus on, rightly so, trying to get away from the very, very high cost relatively low circulation sports networks. espn at 6 bucks an hour per subscriber, makes it coustly for those who don't use the service all the time i'm a big fan of espn. trying to find allies to go forward with him to create skinny bundles of content that will work with consumers they have to get out there and try different types of channels, differen different groups of channels and differen

. ♪ >>> i'm carl quintanilla with jim cramer and david faber at the new york stock exchange.n on the hill, day two. we'll get a cbo budget score, a new senate health care bill, president's in paris, lots to watch. europe's mostly green. yields ticking up a bit. ppi up 2% year on year, just above expectations the fed chair sparking a strong rally on wall street, the second day of her testimony begins this hour on what is shaping up to be a busy day in washington >>> pl

i'm carl quintanilla with david faber and jim cramer who is back at post nine of the new york stock exchangend a lot to keep on the radar including north korea's missile test, president heads to poland and later the g-20.

i'm david faber along with jim cramer we are live from the new york stock exchange carl quintanilla hasfutures as we head in from the opening bell kind of a mixed bag, let's call it, at this poin

yesterday david faber reported the scripps family wants 50% of the deal in cash viacom shares edgingigher, scripps up 1%. a deal could come soon meg whitman is reportedly on the short list for uber's open ceo job. this according to re/code. the hp enterprise ceo hasn't been formally approached yet and she's unlikely to take the gig whitman was an early investor in uber and is said to be quietly consulting for the ride share company. she is fully the economied to hp and plans to stay with the company until her work is done chipotle beat estimates by 14 cents with a quarterly profit of $2.32. separately the company says it's gotten a follow-up subpoena requesting information on the recent health incident at a virginia restaurant. chipotle says it cannot determine whether that will result in a penalty. >>> and another big earnings report to watch later today facebook the social media company out with quarterly results after the bell joining us right now with a preview is cfra's deputy head of equity research. good morning >> good morning. >> what are you expecting? and is there anything

i'm carl quint nanilla with dav faber.hing the senate as mccain returns for a health care vote the president tweeting and pressuring jeff sessions futures are up germany is s

i'm david faber along with jim cramer carl quintanilla has the day off.up half an hour from now for the day's trading. looks like a slightly lower open european markets, you ask. we answer, will we also include spain and italy? yes, we do. >> on a roll now. >> i know. i kn.

i'm carl quintanilla and david faber. jim cramer is off today. flat line today we'll get high-profile upgrades of walmart and boeing. and rates and the economy. europe is mixed, and the