flannery turned the health care business around. it is one of my favorite businesses it's pristine. flannery will be able to pay the debt down pretty quickly when the separation occurs, plain old ge will cut its dividend but health care will -- i'm very glad that flannery is cutting vast swaths of corporate blubber. the plan is achievable i think it's terrific that larry culp will replace john brennan as lead director you need tough industrials at the board's helm after watching john flannery operate for the past year, meeting him on a few occasions, and listening to his plan for the future, i believe that he is indeed the right man for the job. he's showedhimself to be an honest broker, someone who is willing to reveal bad news shortly after he finds out about it and then make the tough decisions needed to turn things around i really like that i'm just going to say it it's time to buy the stock of general electric yep, i think the end of the long decline in ge is finally here. after seeing the results of the company's lengthy strategic review last week, especially the plan to break

he's worried about -- john flannery has his arms around it. larry culp, lead director, brilliant.ll talk about it on the other side >> other side? what's that mean >> other side of the opening bell i want to continue the conversation on ge but we do have the opening bell which you're going to hear in about three seconds' time. because you are watching the opening bell here at the new york stock exchange. [ opening bell ] >> the fraxa foundation draws attention to down syndrome and mission continues. >>> back to ge i hear you telling me you're betting with flannery over tuesday at this point. >> i am. i just think it was a really thoughtful plan. does it really raise to $25 billion? that was disputed on the conference call. it wasn't that friendly. that's why i mentioned tusa. he was respectful. i felt like it was the conference call that most people on the call thought flannery just fell off a turnip truck he didn't. he's a thoughtful man, came up with a bold plan and i like the plan i do think, by the way, no one is giving him any credit on the brilliance of now doing baker hughe

>> let me bring in john flannery on some of these questions. mr. flannery, when you look at everything you just heard, what is the legal significance? >> well, in terms of the law the campaign violations are an obvious one. but in terms of the strength of the evidence to show that, i thought the times story just before the quote that you had was significant because it shows knowledge of both men, cohen and trump, of what ami is doing with playmate mcdougal. he says, should we buy her story directly or should we buy it from ami? and then the question is should we pay in the check or should we do it by cash, and he's encouraging cohen. trump is encouraging cohen to do it by check, which strikes me as bizarre. and you have to wonder if this was also a pattern to reimburse ami for what they'd already done. >> you're talking about the national inquirer parent company and about whether there was an illicit plot to misuse or abuse that media company to secretly try to buy people off and bury their story. and that's a legal no-no, to use a legal term. we s

john flannery's call takes place in half an hour. bashes rate hikes, potentially stabilizing the rate after the pboc lowered its rate for the most in two years. breakdown between the italian prime minister and populist leaders, throwing leadership into doubt. happy friday. you made it. it is a gorgeous day new york city, if you look at the empire's a building. -- empire state building. jason: it is such a lovely friday. a lot of news to get to. we will get there. alix: welcome to bloomberg daybreak. i'm alix steel. jason kelly is joining us. up by three points as we start to turn over as a report from president trump he would not think about tariffs on $500 billion worth of chinese goods. he talked about the fed and not liking them raising rates. the spread weaker, 24 basis points. has nownger story paused, helping crude up by .1%. ge offering investors relief after earnings beat estimates. strong demand for aviation and health care equipment help to boost results. joining us now is scott davis, melius research chairman and ceo. ing

thank you miss flannery. we'll see that we get those. thank you. >> thank you. >> next speaker, please. >> hi, everyone. been interesting listening to the meeting today. my name is robin crop. i live downtown, and the issue i want to address now are the new muni trains. i don't know what the planning process has been into going into them, how long it's been going on, how long it's been ordered. but all i can tell you is i rode one of them, and i got injured. so it was just one ride going from basically delores park downtown. i can't sit sways, and my neck, my back, and my pelvis went out. i could barely walk by the end of that ride. i had to have my chiropractor put my back and pelvis back in place. in these new cars, it's just a bench, and so i can't ride it, and i'm already being impacted now by having to wait for the muni cars with the backs. you know, when you send the sideways cars, i can't ride. one night, i had to wait an hour for one of the ones to come along with backs, because i need a back to sit against. so that's me, and i'm

he inherited very tough sanctions during his transitions and put more on putin. >> i hear john flannery grumbling. i am so over on time you have to go quickly. >> well, i think we're so far past it with this president, he makes errors in every direction and when has a president ever been treated like a baby floating overned a nation that's our ally? >> john, i would not call him a baby. i think it's well documented he doesn't appreciate that but i'm going to go on to my next guest who i specially booked for a different perspective and i'm very grateful to john flannery and sam nunn. bob mueller's new indictment marched into the center of our polarized politics. these questions raise suspicions about how much the operation shaped the race then you have what if questions. aggrieved clinton fans losing by the narrowest margins and the questions rankle trump fans who feel they were underestimated and find their victory greeted by a delegitimizing story. today mueller's boss showed his awareness of that divide. he's urging non-partisanship which could be a warning to trump allies who benefit

that'sow flannery partain plans to attract cusmers. she's just eight, but knows exactly what she wants.to >> i wane the boss! >> reporter: and what better way to kickstart that ambition than though that american summertime symbol of entrepreneurship, the e,monade stand? >> lemonade, lemonce cold lemonade. >> reporter: flannery's just learned her first businesst, conche importance of a catchy name. >> at first, i was like, d'our lemon," but then my like "no, no, no, no, no, no." and so, he was like "how about sweet lemon?" i'm like "yeah, that could work, too." >> i was thinking we could na it lemon squeeze? >> lemonade squeeze? that is the best name i've ever heard! you guys like that me? this is so important because our education system doesn't teach this kind of thing. >> reporter: that's muimillionaire entrepreneur scott jones. he developed the technology we commonly use in voicemail. >> when i was a kid, i not only did the lemonade stand, because once i had the bug of entrepreneurship, i had haunted houses, i had putt-putt courses,

john flannery, and here in new york. john, what speaks to you in this indictment? >> the thing that speaks to me is what i expect we'll see in the next indictment, the kind of one, two, three of the mueller investigation, which is pinning the tail on the donkey, being the orange man in the west wing. we have two critical dates. there are others here, but you may notice that on june 8th, these russians set up a special website, a facebook page and a twitter account all of which was to disperse all the e-mails they'd stolen from the dnc and the dccc. as of that date. the next day, they have a meeting in trump tower. and it was published as a meeting that was going to give information to the trump campaign to go forward against hillary clinton. then we have, later in june, we have another request for information, because they were afraid that the bernie sanders people would go with hillary after the nomination battle in july. and so, about a month later, they had collected information and they did exactly that, they released it. and days after they released that infor

my name is constance flannery, and i live at 281 arlington street. i'm here to speak on behalf of over 40 of my neighbors to mist rental wrecks on flannery street on the side of fair month elementary street and on arlington streets as miguel and richmond streets. have a petition signed by 40 neighbored up to the 400

. >> mike flannery. -- four starts now. >> good evening from downtown chicago. thank you to the form present the illinois congressional district -- i am mike flannery and welcome. guests more than 200 joining us here today. to hear whataiting these candidates have to say about the candidates, the republican incumbent and his challenger sean caston of downers grove. colleague, me is my mike. we will be inviting some of our guests appear to ask the candidates questions and for the past couple of days, we have asked our viewers to submit their questions via facebook. explain where the six congressional district is. nor through dupage county. form.s not a orum.for rum -- a f as they prepare to vote this , the president is top of mine even though he is not on the ballot. voters have to be thinking about a flatter things. -- about a lot of things. working ones time to tax reductions and those types -- hings when it comes to standing up, reflecting the interest of our constituency. many times, we are seeing a miss -- a mischaracterization. voters,i talked to the they a

i thought the summary i just heard was certainly what i saw flannery has a very difficult hand, no question it and he's upright about it and he's got some -- aviation is a great business, the health care business is looking very good, and it will do very well out there on its own renewable energy is kind of a little bit of a surprise that that's having such a difficulty at this moment but they get 85% improvement, they're back in the game that's going to be helpful when he wants to exit power is difficult but the world needs power, power growth is there, and they just have to get their share of it, have to get back in the game probably two or three years for that one i wanted to take the time -- >> bob, when you say he has a very tough hand, the challenges in front of him, whether portfolio management, obviously power, this trade discussion that we're getting deeper into every day, or the long term obligations, what's most addressable first? >> i don't think the trade issue is a big deal, and he explained it well. they can buy things from china, buy parts from china and pay the tariff, but

i'm joined by former federal prosecutor john flannery. what's your reaction to this news tonight?> i would think not significant witnesses in this sense. they're probably bank officers or tax preparers and so forth who may end up as stipulations in the case, and they have probably given a list of witnesses to the other side as required by the rocket docket of the eastern district of virginia. and i don't think judge ellis would like any delay. so i'm sure he's glad to give immunity to the witnesses who may or may not appear. >> i get excited when you talk about stipulations. you know that. >> yes, i know. it's so exciting for litigators. >> who knew it would ever be national news. you're referring to the process by which they're going to prove certain things. why for viewers wondering, why would those type of people need immunity at all, if they didn't do anything wrong and just involved in paper flow? >> well, there are problems about if you transfer more than $10,000 from an offshore entity called ukraine loot, and it comes into a bank in the states as a loan and the money is th

about two weeks after that the ceo, john flannery came out and said they are going to adjust the dividend and the real question i think now, going forward, is how much they're going to cut the dividend and here is the -- ashley: so where is the good news in any of this? charlie: the good news is they're getting it down to a core of profitable business. bad news is they still have a cash flow problem and unfunded liability in their pension. remember ge used to be a much bigger company. they're still big but much bigger with hundreds of thousands of ex-employees -- ashley: ge capital. charlie: on top of that too they still have that overhang so you have cash flow problems, you have the, you need to sort of grow the businesses. they think they're getting it down to a core where it can grow but before it gets there, you need money and i think the only way you can get money is through cutting the dividend more and i think that's what this shows that a lot the reason why people blowing out the stock today even despite the positive spin, the company is cutting on is that this dividend is going t

that's a question we begin with former federal prosecutor john flannery and with the school of government. get your view as a prosecutor, not as a critic of donald trump's policies or a critic of his judgment. does anything on this tape, in your view, legally hurt the president? >> absolutely. and, in fact, if you listen to the beginning of the tape, there's a very interesting thing happening. you hear a rustling, which i think means cohen turned on his recorder before he went to the meeting. and he knew he was going to tape it. and it goes off when he says no, no, no, a check. cohen was protecting himself, and when he got to the meeting, he probably took it out of his pocket, pretended to be checking e-mail and put it down between the two of them and then taped the conversation. >> you're putting out a theory. you don't know that for a fact. you're suggesting it was bad stuff cohen wanted to get on record for himself. no, i'm not about some secret cash payment that could blow up in our face. >> i think it's worse than that. he knew before the meeting what the meeting was about. that's my

stay came from reading the americans, reading the americans of the deep south, twain, faulkner, flannerynnor, and they stayed. and they were deeply rooted. and make no apologies for it. no, they were fierce and defiant about their place, about their provincial situation, and about their vernacular language. and that was, you know, that... i was at university for four years, but i think i learnt more from reading those provincial american writers, who just insisted on their own terms. and if people didn't like it, well, stuff it. that, almost, without the blue language, which of course suffuses your latest book, that's sort of the attitude. i wrote down some of the phrases that i love, they're so deeply of this book and your place. the young character, the troubled boy in the book, early on in the book he discovers his father's dead body, and he hates his father because his father's been violent and abusive, and he knows immediately, jack knows immediately that "the old turd was cactus," and that is a use of language which could only come from where you are from, and yet we all, who are n

i mean, john flannery the ceo of ge did a major reorganization and people yawned. they yawned.oday airbus puts out new forecast saying business is more are robust people are said ignore it. i can't ignore it. i can't ignore the good and focus on the bad. >> yeah and, you know, there's money flowing into treasuries. >> did you see that you can get a 3% on the cd out a couple of years? that's pretty good so the competition is there, but look at what the soft good stocks have been doing look at kraft heinz. when was the last time you had ce velveeta. >> not that long ago. >> there was a guy frankie they had so much velveeta and campbell's soup. did you know that survives >> along with cockroaches. >> post nuclear war , it's going to be there. >> do you think too much is being made in the trade issue? ian bremmer is going to be on with us at the 10:00 hour. calls it vastly exaggerated. last night he tweets out five hours until, quote, vastly exaggerated -- >> i'm not with him. i'm usually not with him we have the same misdemeanor on tv i think he's right on this i think that basica

i am my flannery. guests more than 200 joining us here in the audience. everyone is waiting to hear what these candidates have to say about the issues. here are the candidates. roskam and shawn of downers grove. mentioned that you want to people in attendance. this is the inviting of our guests up to the stage. they can ask them questions directly. we have been asking our dearest to submit questions through facebook as well. at the south end near intoville, this runs north parts of came, mchenry in the northern like. this is not a form. i will be monitoring to make i do this fairly. let's get to it. republicans and democrats tell -- sters is that what voters should be thinking about? this is the responsibility of a representative in the sixth district. this is an equal branch of congress. i am working with the administration on tax deductions, regulatory deductions, those types of things. i have advocated for those things. middling, we're are good on the economy, it is jumbled on other issues. reflecting the interest of our constituency. when you look at

do they have the right mix now with flannery? >> well, flannery was handed a very difficult hand.hink he's doing a good job. he knows he can create value by spinning medical, oil and gas. that will work his difficulty will be digging out of the hole thereafter with still a big pension underfunning and again, about 50% of the industrial revenues in power, which is a division that will struggle to generate organic growth >> jack, thanks. did you tell me you sold it? i usually remember most things, i have to admit didn't remember that where was i yesterday? yeah yeah washington >> joe, i think we both blocked out a lot that has to do with our history with ge. >> you're right. i still have 800 shares i can't find >> really? >> yes, 800 shares by now, i might as well keep it. >> exactly from when we got it when we were owned by ge. i think i had the certificates, i don't know where they are. to get them costs money. with the custodian any way, jack, thank you i feel your pain we'll talk soon, talk to you, in three months maybe we'll be at where you sold it, you'll go why did i sell it.

flannery first started thinking about this you can say he got lucky i felt, david, it's better to bejpmorgan is confounding me, david. it reports on friday i want the stock to be down as much as possible going into the quarter. we don't want to run in that stock. i hope that jamie diamond explains that the country is a great place to do business that he talks about the fortress balance sheet. these would be breakthrough. >> he does it every single quarter. >> he does. >> you were setting me up nicely. >> yes. >> greatest military in the world. transparency, rule of law. >> college. >> rule of law is important. >> it is really important. >> i think jamie should be starting to tweet a little more and talk about his situation what is going on is there an heir >> as in somebody to take over after he leaves? yeah. >> no. president xi doesn't have an air. >> lloyd blankfine, we know solomon has taken over. >> i wonder if lloyd knows what he wants to do. >> lloyd >> yeah. >> what do you mean? >> i mean, the next -- >> what he does with the rest of his life >> yeah. he's probably giving it s

half of the year and that is exactly the situation they found themselves in last year when ceo john flanneryividends. ♪ shery: you're watching "bloomberg best" and i'm shery ahn. blackrock recorded second quarter earnings that the estimates. they saw out those and's lowering inflows into his exchange traded funds. interview, they are seeing a shift in client if your. >> we saw clients worldwide confused saw clients as to what direction the markets will go. >> us is what they're telling you? >> absolutely. clients are questioning the whole foundation of international invest and that is the foundation of globalization. start entering the conversation about trade and tariffs, we are seeing clients pull back a little bit. we are waiting to see how does this play out? the back drop is we have very strong earnings. first quarter represented we saw strong earnings threat the s&p. we believe we will see strong earnings in the second order. we are growing at a rate of $800 billion worth of stock repurchases. a record amount of everyday -- of m&a. we are shrinking equities and markets are essentially

and john flannery believe use this as an opportunity to change the narrative in terms of the with theompany communicates with investors. when you think about it health care business, it has been a starved for capital and attention within ge, and people ignore the fact that that is actually a very good business. margins are increasing and revenue is growing, cash flow is great, but it is hard to get excited about that when your power earnings are dropping off a cliff. dividends potentially getting cut, nobody really cares. so now, you have this business going on, this standalone or it could potentially make acquisitions and invest in organic growth. that will be exciting for investors. jonathan: the trump administration taking a softer than expected approach to trade, i guess harshest measures on chinese investment. how does that contrast with what we expected? >> president trump and senior administration officials saying that they are getting behind bipartisan legislation on capitol hill that would expand the committee on foreign investment in the united states cifius. or what exactly

breakup call and no way it will go down the way ceo john flannery said, the guy just came off a turnipuy at carnival and the random fuel prices and randomness of the dollar yet none of these facts seem to matter, all shadowboxing even as it's taken control of the hearts and minds of the analysts and media, there must be something going very wrong or the market would be up much more than it is some of the analysts on these calls are breathtakingly pessimistic. after mccormick blew away the numbers, french's mustard doing beautifully and ceo, lawrence kersey with seemingly tenuous relations with number one client, walmart and the loss isn't even true. the food group has been stellar. to some degree i get it. i was openly critical about the deal when it happened. so much i had to cry but then they walked me through how trenches just needed better management to gain control the yellow part of the mustard franks is the hottest subcategory because they really do put that stuff on anything. the analysts aren't buying it. they're far more worried about early signs of disruption in mccormick's

with me now, former federal prosecutor, john flannery, sasha and national security reporter, ken delaney. great to have all of you with us. john, let me begin with you. help us decipher this interview with michael cohen. decipher the substance and manner in which it was done. >> my view is it's less than meets the eye. people seem to be so excited he would say anything at all they're reading all sorts of things into it. what i got out of it, he still thinks he's innocent. this is a man talking about his family. we know what a worthless person he's been. he pays off women during the campaign. he makes a loan based on false pretenses, funnels the money through his firm. does pay for play when trump wins with at&t and others. he has a meeting with a ukrainian to have a plan to save russia from the sanctions and hands it to flynn, who is cooperating with the government. now, we're supposed to believe he cares at all about family. when he says country, which he never showed interest before, it strikes me what he's doing is sending a signal to trump. he doesn't have to go on tv to say he will

tim flannery... doing to p-a announcing for renel...was at london breed's ingauguration as mayor of san francisco... bottom 1st... gorkys hernandez.... drives one the opposite way and off the bricks in right field... andrew mccutchen and brandon crawford score... 3-0 giants (4-run 1st inning) back come the cubs... top 7th... 4-3 giants... javier baez... solo home run off tony watson... 4-4 tie... this game is going to extra innings bottom 13th... buster posey... won't be playing in the all-star game... but drives one of the bricks with two runners on... brandon belt scores... league-leading 8th walk-off win fir the giants this seas final... 5-4 giants in 13 innings... brandon belt did not get the final vote for the all-star game... jesus aguillar of the milwauke brewers beat him out brewers beat milwauke aguillar of the game... jesus the all-star final vote for did not get the brandon belt innings... giants in 13 innings... brandon belt did not get the final vote for the all-star game... jesus aguillar of the milwauke brewers beat him o

tim flannery... doing to p-a announcing for renel... ingauguration as mayor of san francisco... bottom 1st... gorkys hernandez.... drives one the opposite way and off the bricks in right field... andrew mccutchen and brandon crawford score... 3-0 giants (4-run 1st inning) back come the cubs... top 7th... 4-3 giants... javier baez... solo home run off tony watson... 4-4 tie... this game is going to extra innings bottom 13th... buster posey... won't be playing in the all-stdrives one of the bricks with two runners on... brandon belt scores... league-leading 8th this season final... 5-4 giants in 13 innings... brandon belt did not get the brandon belt innings... giants in 13 final... 5-4 season final... 5-4 giants in 13 innings... brandon belt did not get the final vote for the all-star game... jesus milwauke brewers beat him out the warriors in the first round of the one-and-one las vagas summer league tournament... trae young...and floyd mayweather... in attendance... warriors versus hornets warriors shot misses from the corner...and woa

we like the steps that ceo john flannery has taken he's basically said if we are not getting a good return on keeping the business together, let's split it apart some of the smaller businesses, put them in the hands of companies that are more synergistic, have more synergy opportunities, and we have no criticism at all of the steps he's been taking >> you said it, not me i was trying to be nice to you, bill >> appreciate it >> thanks for coming on again. we'll see you soon >> thank you >>> let's kick around some of these picks. bristol-myers. what do we think >> i like that name. i'm not in that name now for a long time we referred to it more as a biotech disguised as a pharma company. a lot of times these stocks give you great opportunities. >> sooner or later ge will have a quarter, just a short-term bounce, where they're going to surprise and you'll see a significant rebound in the stock. that might be tomorrow >> that already had a short-lived bounce >> i think you're going to see -- i think they're due for that quarter where the street kind of gets caught offsides i know the overwhelm

>> i'm joined by former federal prosecutor john flannery and washington-based reporter, shelby holidaywhat do you think of it at this point? >> i was wondering if he's trying to build a case for trump as ineffective assistance of counsel. >> ineffective assistance of counsel joke right off the top. >> that's what we try to deliver for you. >> will you explain what that means? >> yes. when he was a jowrng yard dog prosecutor in the southern district -- a junkyard dog prosecutor in the southern district of new york, he would have seized on the statements in the case both after hannity saying trump paid for this woman and funneled it through the law firm, number one. over the weekend, there's really no big deal about go easy on my former national security advisor, who may be a witness against me, who could put me in an orange jumpsuit. out of his own mouth we have evidence why this is a serious investigation. part two, he has no business expecting a prosecutor to tell him what is evidence is before there's an interview. the history and the law of a subpoena for the president is it gets fu

. >> i'm bringing in john flannery and seth waxman. back with me as well.ohn, take it away. >> well, these guys sure shouldn't be teaching first year law criminal law. there's also not, in the code, you won't find colluding with russians either. but the definition that we're concerned about is when two or more persons commit -- agree to commit a crime, that is the crime of conspiracy. and if you are considering the fact of what collusion is, again it's two or more persons agreeing to commit a crime. so you can't subtract the crime, the object of the agreement and say, well, collusion's not a crime. and i suppose what they're saying is the technical word collusion, they can't find it in the code. but the elements of a crime is how we define it. in section 371 -- >> yeah -- >> defines it that way. >> it's a collusion conspiracy. >> correct, yes. and interestingly if you just take the june 9th meeting, you may have the pre-meeting that rudy doesn't know happened or not. >> you're talking about the sushi dinner. >> yeah, sure. >> and then on june 8th, the russi

i think ceo john flannery is doing his level best to turn things around, but rome wasn't built in a quarterand this one won't be fixed in one either speaking of industrials, you believe how much honeywell is making and how much dave cote's successor has been telling the story of the breakup at all, a tour de force. illinois tool works has become maddingly inconsistent that's quote for just plain for two quarters bad, and that the declines are pretty daunting as i told club members, i request whether itw should still be on the other hand here. so let's say industrials right now are a question mark on a case-by-case basis retail is also hard to puzzle over however, that question could be resolved by the positive commentary and forecast boost that we just got last friday from vf corp with strength coming from jeans, van sneakers and north face that i think it is fair to extrapolate right now positively to many of the brick and mortar stores that carry the stuff. i'm particularly interested in seeing target. i think that acts well i think kohl's is having a super quarter. here is the bottom lin

flannery still has work on his company. brooke sutherland is here to discuss.is not fair to compare them but it is inevitable when both are out with earnings. you see a much healthier company and one that is still just not there with ge. >> i think it is totally fair to compare them. the big thing for ge is they are performing poorly at a time were industrial companies are doing well. we see a very strong industrial backdrop of the companies reported earnings so far. they have all been good. ge is having all of these challenges. >> they beat their earnings expectations and people are treating them like they are doing absolutely terribly. can they not do anything right against shareholders? >> i think the headline number does not mean anything. there are so many adjustments to that so after their november 13 presentation, they said we would be more transparent and earnings. what they rolled out is this convoluted -- is just as convoluted as it was before. is theple care about cash flow. on that front, they cut their guidance. and if we compare ge honeywell, are

this is the second year in a row. , -- year the shortfall cause john flannery to cut the dividend for only the second time since the great depression. said it wills rethink its dividend policy and that will likely mean a lower dividend. what today's numbers underscore is that this will be a significant cut. mentionedur piece you ge is working through its woes at a time when a lot of industrial companies are doing well. brooke: you see that today from honeywell's numbers today. ge reported a 6% decline and honeywell had a 6% gain in organic revenue. leased --inc. increased guidance and you are seeing that from companies. distributors reported strong numbers and saw strength and core industrial markets. ge is missing out on the upswing. takinghe shift they are and far -- as far as the health care business, they will be dependent on longer cycle businesses if we get to economic downturn. the risk of underperformance if we see downturn. shery: we saw aviation below estimates. brooke: that is a focus point because they need aviation to be perfect to meet profit guides to make this narrativ

course, the call going on it will be interesting to hear any comment on trade something we asked john flannerybout and he would say he's not too worried about it and that he thinks ultimately cooler heads will prevail. honeywell reporting pretty good earnings rising guidance today. >> microsoft is the other big story. it will open at a record high again. dow component issues up guidance better than expected results helped by growth in the cloud business they talked about that last night. take a listen. >> we delivered more than $110 billion in revenue with double digit top line and bottom line growth and our -- surpassed more than $23 billion in revenue for a year with gross margin expanding to 57% the strength of our results reflects accelerating innovation and the trust customers are placing in us to power their digital transformation. >> our friend tom hearden said it's a classic 2018 story. you got all the macro worries, all the trade worries this morning. presidential tweets about tariffs and currency and microsoft is opening up 3%. >> you mentioned tweets. cramer last night -- right, the

. >> exactly ge has to address it john flannery has to address it.line of tusa's very thoughtful piece was this is about to happen to health care and that was john's vision. >> right. >> it made the earnings look better and because ge capital is being scaled down. >> they pushed out too much product? >> no. >> they got the sales. but when you look something a long-term contract and then you sell it to ge capital and get rebated, then that's fine as long as the credit is good right. if the credit good meaning that customers could pay. >> right. >> now there's issues about whether the customer is going to pay. the group has gotten weak. there are issues if you're shrinking the ge capital can they do this and the answer is no it was all, frankly, it was all a tremendous read through for various footnotes which are enclosed in the report and you find yourself saying tusa is on to something. if tusa is on to something, the numbers haven't come out. >> interesting the numbers are going up is the ten year yield after all those sessions in the 2.8. 2.91 high