yelp selling eat 24 to grubhub for 2$287 million >>> grubhub earned 26 cents a share. down 3 cents from a year ago grubhub says active diners grew 25% in the second quarter. the co-founder and ceo, matt maloney, will be on "squawk box" later this morning >>> japanese automakers, toyota and mazda are teaming up to build a $1.6 billion assembly plant in the united states this is all part of a new joint venture between the two companies. toyota will take a stake of about 5% in mazda. the location has not been picked yet, but it is expected to have capacity to build 300,000 cars a year and employ 4,000 workers. the company is hoping to open the plant in 2021. >>> toyota reporting a rise in quarterly net profit despite seeing a slip in operating income and raising its full year guidance >>> rbs reporting a huge beat. net profits for the quarter tripled expectations coming in at 8$894 million despite the beat rbs is on track for a tenth straight year without an annual profit the bank's cfo saying that has to do in part with a fine u.s. regulators slapped on the company last

they are also entering into a partnership with grubhub in which they will incorporate grubhub in itsistings. keep in mind they acquired grubhub in 2014 so it's a big deal for the company they estimate the deal will generate between 10 to $15 million of high revenue for yelp next year, providing a good tailwind for its profitability they upgraded its stock price on the news saying it will double the enabled restaurants on yelp's platform. the move also helps them solidify their business in an otherwise crowded food delivery marketplace. that marketplace includes players like amazon, uber eats, door dash. more and more people are using restaurant delivery services with fees going down and mobile apps making the process a lot easier that report estimates by 2022, digital good delivery may comprise 11% of the market versus 6% today, leaving $2 billion up for grabs they're up about 9% right now. guys >> yelp shares had been in a slump for a long period of time, but it's interesting, though foursquare and others have tried to compete in this local listings market. it doesn't seem like any

grubhub earned 26 cents a share last quarter, down 3 cents from a year ago grubhub says active dinersrew 25% in the second quarter. the co-founder and ceo, mautd maloney, will be on "squawk box" later this morning >>> gopro reporting a smaller than expected loss in the second quarter. the company says it generated most of its revenue outside the u.s. with sales of higher priced cameras, such as the hero 5 black. shares up by 13% nick woodman will be on "squawk alley" at 11:00 a.m. eastern tile. >>> blizzard with better than expected results the call of duty provider is sasa - and kraft heinz says cost cuts offset weak demand in north america. i like hot dogs. >> still little sales growth for the big package food companies craft heinz looked better than others kellogg had a good quarter still struggling >> they had been for a while general mills -- >> the whole grocery sector is challenged. >>> japanese automakers, toyota and mazda are teaming up to build a 1$1.6 billion assembly plant in the united states this is all part of a new joint venture between the two companies. the location

announcing a stock buy back and a deal to sell to grubhub. issuing up the guidance and cost controls including lay offs of the company. go pro ceo will be a guest on stock alley. the go pro e-24, excuse me the grubhub e-24 deal is interesting. they get a partnership where you can order food through grubhub on yelp and that could drive business. >> i liked him saying we need scale in this business that makes sense there's a model in new york city that will work well there but you start talking about the cost to spread this across the country and do it well and being able to go to a different city now and say hey what is a local restaurant it doesn't have to be a chain if you start to partner that with some of the delivery options for grubhub. >> yes you get advertising money from that way but how can they get into the transsnx how can they have people going on there to buy this is one way. partnering with the third party. by the way, e-24, that's 40,000 restaurants across the country 50,000 orders. >> this feels to me like a lot of wide open s

grubhub down 5.6%.he outlook, the outlook for third-quarter revenue, midpoint of that range, around the same as the analysts were anticipating. the stock skyrocketing on the sale of eat24 two grubhub. julia: we were talking about gopro, whether it was summer activities or -- look at gopro's movement here, after hours. up more than 15%. $.25 the dollar, versus expected. in terms of revenue, $296 million vs. 200 62 $9 million expected. beat on the top line and bottom line, and investors really liking this news. that stock up over 15%. plenty more to come. from new york, this is bloomberg. ♪ mark: i am mark crumpton. time for "first word" news. republican senators to in border security bill that would strengthen law enforcement at the u.s.-mexico border. senate majority whip john cornyn of texas says the bill haslam three-pronged approach -- strengthening the borders, strengthening current immigration law, and helping local law enforcement. it stillornyn: requires the department of homeland security and la

it was announced that grubhub is buying eat24 from yelp for $288 million in cash. this in addition to the two companies agreed to a five-year partnership that will see yelp integrating grubhub ordering into its own restaurant listings. grubhub is seeing its stock fall in late trading as it tightens its revenue guidance for 2017. coming up, deutsche telekom has raised its profit forecasts, but all eyes on speculation t-mobile could seek a merger that would shake up the wireless industry. plus, my exclusive interview with square ceo jack dorsey. here is a preview as dorsey discusses growth opportunities for his company. jack: we realized recently that we're not really competing with financial institutions and banks and traditional lenders. our average loan size is $6,000, so we are competing with people going to their friends and family and ask for a loan. and that's a massive market. ♪ emily: sticking with earnings, german giant deutsche telekom gained in frankfurt after second quarter profits beat analyst estimates, but all eyes are on its m&a strategy as it keeps

scripts there major deal details as groupon teams with grubhub to change dining experience raise a grass drink may have been fermenting in your family we bring connection of wine in your dna, top toir, first, president trump is sit to meet with small business owners today, for the engine of the american dream summit after another shake-up in administration. will adam shapiro live this morning at the white house with the very latest, good morning to you. reporter: good morning to you maria, this is the 65th adviso anniversary of small business invitation to would 100 small business owners about celebrating sba, also trump administration republican agenda on tax reform small business engine of growth in this economy how tax reform can help these individuals promote their businesses and help grow u.s. economy, now, this comes after yesterday's big news here at the white house, to which president treated did you see this he said a great day at the white house, and things are very orderly when you think of the new chain of command and everyone reporting to new a chief of staff john kelly so t

a new grubhub survey shows that students eat healthier at penn than any other college in the country. rider university even thomas jefferson university came in the top 20 for healthy eating. >> must be the reason why those kids are so smart. eating right. >>> twin terror attacks. 13 people are dead, dozens more injured after coordinated strikes by terrorists in spain. >>> breaking overnight, statue vandalism, someone spray painted the bronze statue of frank rizzo. controversy continues over whether it should be taken down. >>> and fly, eagles, fly, the birds take to the field at the link for first time this preseason, a w in front of the hometown crowd. >>> that hometown crowd was set for the game. >> always fun to sit and watch the games with. >> welcome to nbc 10 news today. i'm tracy davidson. >> i'm vai sikahema. we're issuing a first alert. let's begin with bill henley and the first alert forecast. >> some thunderstorm activity this morning. but the heavy downpours this afternoon and strong storms have prompted a first alert for the entire area. from 2:00 this afternoon, through

a new grubhub survey shows that students eat healthier at penn than any other college in the country.rider university and thomas jefferson university also came in the top 20 for healthy eating. >>> two lehigh valley colleges teemd up to create a new collective impact scholarship fund aimed at helping students with little money afford a college education. organizers say this year, money raised for the scholarship starting next year it will be granted to qualifying students at penn state lehigh valley and lehigh carbon community college, leaders say the scholarship will open new doors, students who apply to either of those two lie high colleges automatically will be considered to receive the scholarship. >>> imagine while crossing a bridge over water, the road beneath you starts to rise. >> it is likely you've been on an drawbridge before. it happened to a family vacationing at the shore. suddenly the bridge started to open up. they feared their car would fall backwards or wr s or worse fale water below. >> i said i think the bridge is happening. >> i don't know why, what made me do it,

i had a couple really good and in the end i'd rather that that at home have it delivered by grubhub.t like the shared experience of having people answer their phones in the middle of a movie? >> that's going to be the tough one of the morning a health care real estate company and the add council and the american lung association raising awareness of lung cancer screenings so we'll wait and we'll see if dow 22k is a reality dow at 22,000 for the first time ever after hitting 21,000. >> that's been awhile for us to surpass this next milestone. >> you have to hand it to boeing which has been responsible for about 40% of what it would have took us to get here. i'm sure dave is going to start talking about how it's a relic and we shouldn't be focused on it >> boeing had such an impact on it it's a high priced stock and they had to keep it going that way so you can go back a long way but it's not market weighted or not followed by any of the professionals. >> it's followed by president trump. >> i say good luck because that thing is on fire and they'll start raising rates it's going to be

vonnie: one of our other types of competitors like we are seeing consolidation now with grubhub and orderingordering in apps. doesn't have an impact on the likes of blue apron? cory: i don't think so. i think they are different business models, but they might argue otherwise. when you look at the top line numbers for these kinds of businesses, there is so much revenue from a customer. if a customer is going to eat three meals a week and the revenue was $20 a person, $60 a week from a customer over 50 weeks or so, that is a really can see why it is an appealing business and why there are so many other competitors out there trying to get a stab at that, but the key will be it is to complicated. make the service right, make the food good, and the company custo. someone will figure this out because people eat and they want to eat great food at home. the trends in food are people that want to have more prepared or semi-prepared food at home. vonnie: they also seem to want to play with their food on snapchat. cory: right. we need virtual dancing hot dogs and actual hot dogs. blue apron snaps. no?

yelp up 18% and grubhub down 8 what would you say, michael?y situation because of all the partnerships had one with trip advisers not that long ago. people wonder how they are going and how aggressive financially it will be with all the deals and what it mean. >> and whether or not that's hurting grub. >> and sometimes restaurants that are customers of seamless won't like a linkup with yelp. >> we'll talk about some rose. a breakdown of the red hot sales of that cool summer beverage right afr isteth 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. >>> we're halfway through summer, but sales of the season's most popular beverage, rose, are showing no signs of slowing down we have more >> hey, con sungs has been on the rise here in the ice, but recently, we've seen a sharp jump in demand driven by millennials and different products >> there's much more than that is offered today including rose

speaking of deals, on the buying and, grubhub is share of yelp. forecast for the full year in revenue. the midpoint is above estimates. on this deal to sell eat24. jonathan: i can't see david using grubhub. of0 jobs added in a month july. the wage growth number is at and, better than estimates for the payroll report. ira.ng us from princeton, treasury yields higher by four basis points, what is your take away from the treasury report? >> it was strong. it is interesting that the market has gone exactly to where imply volatility said it would on a strong number. market --t what the you look at option volatilities, options on u.s. rates, those have not moved. even though this was a strong report and you have higher yields at the moment, you don't have a market that is convinced this is going to lead to higher inflation or growth because you have one ok number. jonathan: is that the takeaway? that it does not move for the federal reserve at all? >> at least for the moment. the market is pricing for 1.5 interest rate hikes for the next year. runoffket

yelp doing well, and shelling -- and also selling its eight businessss -- eat 24 to grubhub, also seeingrowth. julia: the jobless rate fell to 4.3%. betterowth numbers were than expected, with rising 2.5% from one year ago. to auly data points healthy economy, despite mixed signals in recent weeks. now, -- s numbers are better than the average we saw for the first half of the year. >> absolutely. anyway you slice the employment numbers, it is hard to tell a bad story there. maybe there were some slight weaknesses on the nonresidential construction, employment. but you had a broad-based job growth, an uptick in the employment rate, which shows there might be more room to run in this economy. julia: what about the manufacturing sector here as well? that has been pretty solid here as well. some weakness in the goods in producing side in particular, and we were expecting weakness in the autozone, but we did not see that happen. >> absolutely. we were expecting a bit more of a drag from manufacturing, but we did not see it because of that noise coming out of the sector. on the goods producing

and yelp gaining 28% after selling to grubhub and coming out with recent results.t's take a look at the government bond market. yields up in the u.s., again, following that solid though not amazing jobs report. 1.35% on the short end, 2.26% on the 10-year. a little bit of a jump day. intraday chart of the u.s. 10-year you can see that pop at 8:30 a.m. on the report surging a little higher and then leveling out ending the week at 2.26%. scarlet: stronger dollar is a theme after the better than expected jobs report. jerry cohn confident tax reform can be accomplished at year end. you look how the dollar is higher. it's higher versus all the major currency except the korean currency. the jobs rate falling to the lowest since october, 2008. there was a pullback in canadian exports and a wider trade deficit in june. when you look at the dollar, though, over the longer term -- and this isn't that long. this is the past 12 months. yes, the dollar moved higher but it's against a backdrop of weakness in 2017. the bloomberg dollar index is down more than 8%. or, yeah, down m

i don't know if it's a delivery business we had the cho of grubhub on recently big question of whetherzon is eventually going to get into the space, not just through whole foods but whether they're going to try to partner with restaurants and do delivery themselves >> i'll tell you a little secret, they're a very good partner of ours already. >> amazon is they've been a very good partner to us. we have great partners in grubhub and amazon eats and i think that's an exciting place for casual dining. >> how big a business is that for you? >> right now it's small but growing at an astronomical clip and i suspect it's going to be a very material business in the not too distance future. >> michael, thank you for coming in >> our pleasure. thank you. >> when we come back, jim kraker will join us live from the new york stock exchange. we'll get his change on today's top stories. check out the futures under just a little bit of pressure this morning. looks like the dow is -- oh, there's a starbucks chart. but it does look like the nasdaq is down by about 25 points below fair value we'll be rig

groupon, partnering with grubhub on food delivery. they're focusing on college towns, no surprise.lf-naked women and costumed characters, panhandling aggressively in times square. we're told they can not be arrested. tracee carrasco joins us now. i understand that aggressive panhandling, you can't be arrested for that, but what is the other reason they can not be arrested? reporter: this is a two-fold issue because they are aggressively going after these tourists but the other issue is you know, their immigration status. as far as new york city being sanctuary city, law enforcement sources told the "new york post" before they wanted to come up with some sort of database for these costumed characters for these women to register but the sources say most of them are illegal immigrants, wouldn't register anyway. so police are having a hard time an forcing the rules, keeping them in this squares, boxes they are supposed to be in because of the policies. stuart: you can't, in a sanctuary city you can't go to someone say, you're illegal? reporter: police can't also, you know, unless they