ibm was caught in a bad romance. the separation sending shares up 6% today more on the big blue breakout. >> ibm has seen a little love from investors over the past decade so it is splitting itself in two and saying it will list its it services as a separate company next year. investors initially cheering that move sending shares up about 6% but the ceo reminded inversers that it i ddivested in the '90s they didn't play into the value. shares have under performed through the broader if he can sectors to broader names like or cal. but two years ago ibm was about watson and tech. it is said watson is barely mentioned on earning calls ibm was late to the game and still far behind amazon and google back to you. >> let's trade this. question, guy. i will start with you. >> when you start with a question, it always confuses me. >> does this spinoff actually further ibm's turn around plan or is this just financial engineering? >> the latter. hello, melissa i think it's the latter. if ibm was clever, they would rename the co

tonight on fast we are all over the after-hours action of ibm. that stock is lower as the earnings call gets under way plus we will tell you what just happened at our airport that has not happened since march and why it's good news for the airlines. later, james is pitching the mound, he says this stock is beating amazon in every way. we start off with the stimulus slide, stocks sliding off speaker pelosi held a phone call with steven mnuchin. let's get the latest from ylan mui. what's going on here they have agreed to talk again >> reporter: that's right, melissa. we know the phone call at 3:00 p.m. lasted for just under an hour pelosi's office sounded fairly positive on twitter, her spokesman said they continue to narrow the difference differences. now, pelosi and the treasury secretary will speak again tomorrow, and by the end of the day, that 48-hour deadline that pelosi imposed, they should have clarity on whether a deal is really possible before the election however, over in the senate, republicans are moving on. there's not a lot of appeti

a lot of leadership who runs the business is at ibm is going to stay at ibm.that runs structural services goes with newco. the old, governing structure of ibm stays in place because the company is staying in place. in newco, we have to create a new board. once the new board is formed, they will select a management team. we expect it will select many people from the current management team, but as that goes forward, the new board will select overall leadership. but in terms of day-to-day operations, a lot of the people are in place around infrastructure services today and they will continue to do that. , you clearly want to gain growth by freeing up hybrid services and the ai part of the company. you run the risk of losing some because of cross-selling by customers on both sides of your business? is a risk that can be managed. i don't have any concerns about it. i've got to have lots of work around it, so i am going to mitigate any of that risk in terms of i we work. and there are common plans across both sides of the business. we intend to contract separately

a lot of the leadership who runs the businesses that ibm will stay ibm. for infrastructure services goes. , theu know, the board governing structure of ibm stays in place because the company is staying in place. we have to create a new board. once the new board is formed, they will be able to -- we expect they will select many people from the current management team. as that goes forward, the new board of the company will select -- with day-to-day operations, a lot of the people are in place. they are in infrastructure services today and they will continue to do that. david: you clearly want to gain growth by freeing up the hybrid services and the ai part of the company. you also run the risk of losing some of cross-selling, have companies that can cross sell both sides of your business? arvind: that is a risk that can be managed. the word i would use is i do not have any concerns about it, and that would say of course i will have to work around it and i will mitigate any of the rest in terms of how we work. there are certainly common clients across both

. >>> all ahead, why your next guest says she is raising her price target on ibm for the first time inears. even as that stock takes a hit pre-market we'll break down and maybe break b be ene' bk. i feel like we're forgetting something. let me check. xfinity home gives you peace of mind from anywhere with professionally monitored home security built around you. no, i think we're good. good. so when you're away, you don't have to worry. the tent. we forgot... the tent. except about that. xfinity home. simple. easy. awesome. hey look, i found the tent! get xfinity home with no term contract required. click or call today. >>> stocks seeking a tuesday turnarou turnaround, dow up 160 fueled in part by the hopes in the stimulus stalemate ahead of nancy pelosi's self imposed deal deadline we're taking you to d.c. with the latest on where we stand with less than 24 hours to go. >>> and take me out to the ball game as long as you're paying. your morning rbi on the price some fans are paying to see the rays take on the dodgers you will not believe today's rbi. this is "worldwide exchange" and yo

ibm erasing some of their earlier gains but still up 5%.y joinsances us to talk about how the biggest foundations and philanthropy efforts are positioning themselves when it comes to responsible investing. this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn in new york. investors have been driving demand for esg investments but not all institutions have the same approach when it comes to responsible investing. foundations and philanthropy efforts make up a large part of the esg landscape, but what exactly do we know about their practices? , weoday's bloomberg green are taking a look at trends in that area. joining us now to talk about her research is frances barney of bny mellon. according to your research, there are three ways that foundations and philanthropic efforts screen for esg investments. talk us through that. thank you. this is based on a survey that bny mellon published recently related to the practices of foundations. the most common approaches to incorporating esg in investing into their investment programs

at ibm headquarters in new york. it's 11:00 a.m."squawk alley" is live ♪ >>> good thursday morning. i'm carl quintanilla we look for a potential stimulus deal again there is a look at faang names, w n.

ty >> coming up, ibm in a bear market down 20% from its 52. week high. the traders will tell you what to expect when its earnings report comes out after the bell today, you see it a little bit higher today as we head to break, check out some stocks bucking the trend and hitting all-time highs today, including best buy. wow, look at it above $122 a share. e tothau desk is also there. there's more power lunch ahead we're excited to do business with you but before we sign i gotta ask... sure, anything. we searched you online and maybe you can explain this? i can't believe that garbage is still coming in. that is so false! frustrated with your online search results? call reputation defender today to join tens of thousands who've improved their online reputation. get your free reputation report card at reputationdefender.com or call 1-877-866-8555. >>> welcome back remember when ibm stock popped on news it was splitting into two companies? it wasn't even two weeks ago but it has given back almost all of those gains. let's go to dierdre for more >> reporter: w

but they don't trade at these valuations ibm has a nice dividend. i don't think there's a lot of done side in owning this name through the end of next year not that that's a specific time frame for me but when i look at my basket, i think there's more opportunity here from an appreciation perspective, from a catalyst perspective, and it not going to be left behind in a beg growth rotation. so -- >> the stock seems to be moving up slightly during the conversation so i think the market is with shannon for at least this moment. we'll take a quick break and come back with more. plus bullish calls on caterpillar, costco,he cwy we're back in two minutes. >>> the u.s. postal service has pulled it's uniform police force off the street officers escort letter carriers on some routes and work to prevent mail theft a union is suing over those changes. and wall street is helping drive big donations to the biden campaign the financial industry gave more than $50 million to the biden campaign versus just over $10 million to trump's reelection efforts. go to cnb b

ibm made a big bet on this sector investors cheering the news but there is hard work ahead ibm was lateemember, and still trails the cloud giants amazon microsoft and google by a wide margin. despite its previous turnaround plans sales have fallen 25% in the past eight years. >> thank you. >>> steph, is this the big moment for ibm >> i think it's a part of a big moment i think it is going to take a long time to see this thing play out. remember rack space did the same thing in 2016 and they are just starting to see the benefits now. so it is going to take a while but i will say that it is positive because they are absolutely going after the growth part of the market ai software is going to go from 10.6 to 126 billion in 2025. they are right to focus on this end market and other parts of the cloud and hybrid ai. i would say they have to right size they have to delever they have to streamline. they have to execute to the extent they can start using the azure's and awss of the world and sell those products to their clients there is synergy there, for you are sure i think it is going to tak

ibm is the best performer on the dow after announcing it would spin off its

ibm jumped 6%.ompany dubbed new co, part of global tech services division that accounts for 19 billion in annual revenue. what is left behind? ibm, hardware, software services that the business chief executive would be quote laser focus what the company sees as a trillion dollar hybrid cloudmarkket. it is all about the cloud. investors will be closely tuned into those comments. we'll show you earnings estimates after the bell. 2.58 is the earnings per share estimate. revenue estimate, 17.54 billion. liz: okay. they have been slicing, dicing, shedding all kinds of businesses. we shall see. cheryl casone in a few minutes on "after the bell." american airlines, did you see this? it has given boeing quite the vote of confidence. it is announcing it will have a daily 737 max flight between miami and new york from december 29th to january 4th after being grounded since march of 2019 after two very deadly crashes. what is this going to do for boeing's stock which at the moment is flat but still down more t

can talk about ibm they had the spin. are you feeling more confident about this company's prospects now? >> i am. i'm excited about the call tonight to hear what management has to say i also think when you have something as inexpensive as ibm with a strong dividend it goes into the better than a bond category for intel and ibm expectations are sill much. one thing about last week, when we talk about the market broadening and the importance of earnings, if we look at fastly versus goldman last week, that is the perfect highlight of why earnings are going to matter so much this quarter. what we'll be seeing is a reflection of what happened the past three months and we'll see real numbers you zero expectations for goldman, you see sky high expectations for fastly. as these companies report this week, we'll see more of that a lot of companies where expectations are unrealistic and the companies in my portfolio like on that screen you showed, american express on friday, intel, verizon, at&t, ibm, the expectations are for nothi

investors awaiting earnings from ibm. break down those numbers as soon as they cross any minute now. paul hickey with us and liz young joins the conferring as well mike, to you first of all. the sector performance clearly led lower by the likes of tech energy as well but pretty broad today in terms of everything down and everything down almost a percent or more. >> yeah, which i think argues against it being particularly news driven or who would be the beneficiaries or not of a potential stimulus bill. it seemed like it was really a broad based kind of slouch lower in the markets in the morning we had great home builder survey data. the home building stocks couldn't hold up the rally softened up into the close i think it served as a gut check into the most recent phase of this rally we got down to levels that people are saying are pretty much make or break if we are going to believe that the post september rally is -- 3,400 on the s&p 500. people don't want to see that hole low volume in s&p 500 and etfs to me it didn't s

christina montgomery is vice president and chief officer at ibm, the former acting chair and commissioner now a partner of the law firm, andrew smith is the head of the bureau of consumer protection of the ftc and distinguished professor of management. let me start out with a question for the panel and then also take you in the same order. has the pandemic changed the trade-off and beneficial uses of data, and if so, how. >> in terms of where the policy debate is going, i found it's done surprisingly little to change how we talk about privacy law and the trade-offs that need to be made. early in the pandemic i thought that this was going to be a sort of moment where we recognized that very strong privacy and the main model for allowing data to be collected and processed in almost any way. but that was proven to be, to not serve what we are trying to do with the pandemic. so, when a south korea was using them in order to do contact tracing and quarantines of individuals, i thought we were going to wind up in a productive conversation about what type of privacy is the right goal or objectiv

ibm as a stock, it's a difficult time for years getting out of its own way, even when it's had decentuarters. we'll see if maybe the spinoff news can create something different here >> indeed. thank you. >>> joining us now for more on this tech environment, lowe tony good morning i know you are bullish on apple, iphone, 5g, but i think there's some big questions out there about whether the networks are really ready, whether consumers will be disappointed seems to me in the next four weeks there's a big consumer test in tech with these iphones and the early reviews and then major gaming consoles. we have not seen a refresh like this in about seven years. do you think the consumer can hold up? >> these are interesting questions. first and for most, we have some big macro events coming up as well with the election, hopefully getting a control on the pandemic as well as the stimulus package i think all of those will also help to influence consumer behavior with regard to apple and the iphone, we have seen reports showing that the 12 sales look good so far for the models on pre-release ord

the list ibm has devised is long but they do have some interesting points.e for example a box like, this that looks pretty harmless, also a place where you might leave a nice gift message to somebody, or when it comes to online banking, somewhere where you may make a note of a reference. but they are also being used for more sinister purposes. a place where perpetrators can continue their abuse. one suggested solution is to make them ‘smart‘, automatically monitoring for abusive language patterns of behaviour to potentially spot and stop them happening. but some changes suggested are hard to implement and need a bigger rethink. if the devices in our home had obvious alerts when they are remotely activated, and kept a digital record of who did what, when, this would make it difficult for abuses to obscure and distort the truth. furthermore, having a manual override on the devices would return some of the power to the local user. with smart devices becoming more commonplace, this issue has become more urgent to tackle. everything i had was like hand—me—down ph

the players in the space are sold oracle, ibm -- are so old. oracle, ibm.the end of the day, with the software companies, you are really betting on management. emily: what if we all go back to work in six months and this remote work phase is behind us? there is kind of this wondering when it is safe to go back if companies are going to be changing their tune. >> i don't know about you. i am pretty zoomed out. enabledanies that have zoom, slack,e, so and the security companies that securelped keep everyone as they are working from home, cloud flare, those stocks will probably get hit. then you have to start thinking about the day two stocks. the companies that have not benefited as much that should be able to come back to life. there are no particular benefits of snowflake in terms of people working from home. emily: what are the other companies that you are watching that you think will see the extreme benefits of this and lasting benefits to boot? pat: one of my favorites here is doc you sign -- docusign. i am looking for someone who has benefited from ever

. >>> another busy day for earning, we'll show you why ibm is falling in early trading, medium size blue >>> and bring your results from two more dow components. >> and plus a major cosmetics retail her threaten bond holders to take a haircut or risk getting wiped out. today is tuesday, october 20, 2020 a lot of twos. "squawk box" beginning right now. ♪ get a haircut and get a real job, get a haircut and get a real job, get your act up ♪ >> haircut, haven't had that in a while. good morning, everybody. welcome to "squawk box." i'm becky quick along with joe kernen and andrew ross sorkin. futures are indicated higher this morning, triple digit gains for the dow up by about 167 points but yesterday was a big down day for the markets. dow was down by over 400 points, 1.4% the s&p and nasdaq done evz nasy even more. this morning s&p indicated up by about 25 and nasdaq looks like it would open up by over 100 points fairly significant obviously everybody watching what will be happening with the stimulus talks with the deadline that nancy pelosi has said for later today. let's take a look at th

they certainly purchase a lot of hardware and software from ibm.chases services from nucor, in terms of infrastructure and so on. the companies will have a deep strategic relationship. that will not constrain them from bartering where they want to. ibm's ceoat was speaking to david westin. take a look at the markets. focusing on gold. was notke the market impressed with the casino numbers during the eight day holiday. citigroupof cicc and downgrading their forecast for gaming revenue after the holidays. 70% year on year for the month of october. you see most of these macau casinos are falling in hong kong. look at the asian market and the airline stocks, they are also heading lower today. the a-shares are looking better on the back of the daily air passenger volume, restoring by 91%. this is bloomberg. ♪ haslinda: it's almost 11:00 a.m. in singapore and hong kong. i am haslinda amin. yvonne: i'm yvonne man. chinese markets jumped on the return from golden week. spending will show the strength of recovery. in hong kong, everest medicine sores on its

ibm with what has been widely anticipated for five years if not longer.will split up and two companies. we will split up and get through the morning. david westin will lead us forward. the 12:00 conversation with the speaker of the house. it is the most historic time for the need for the nation to find stimulus. stay with us through the morning on bloomberg radio and bloomberg television. good morning. ♪ jonathan: from new york and london for our viewers worldwide, good morning. the countdown to the open starts right now. equity futures up 21 on the s&p 500. we advance .6% and we begin with the big issue. there is a new narrative in town. ofthe increasing probability the blue wave. >> the democratic sweep scenario. >> from a contested election. >> market surprised out some of the fears around a contested election. >> we are less likely to have a contested election. >> heading towards a likelihood of a joe biden win. >> this is a blue wave type of trade. >> the blue wave might not be such a bad thing. >> we will probably get more stimulus with a joe biden

this breaking ibm news is important. jonathan: after a big acquisition last year of red hat, the restructuring at that company continues. , will wetum in america see it continue? the data is about 90 minutes away. lisa: and does the data matter? we will get the u.s. initial jobless claims. it is getting messier. mike mckee has done a great job eliminating how this is increasingly being looked at as a lagging indicator rather than because ofndicator miscalculating some aspects and cracking down. 12:00 p.m., house speaker nancy pelosi speaking on bloomberg tv. how interesting to see willing she is to pass piecemeal support bills, whether it be for the airline companies, for stand-alone checks to american families, which she has rejected so far. 6:30 p.m., the feds robert kaplan also speaking on bloomberg. pushbackng to hear his on additional rounds of quantitative easing. there seems to be willingness on the part of other fed members to expand on those purchases. robert capital that robert kaplan saying, what more will? ?

if you were going to -- when he bought it, is ibm even called tech at this point 110 billion, ibm markete today's move. but double ge. and shifting expectations for coronavirus relief, let's hit to ylan mui with a look at where things stand >> good morning. well, the big deal might be dead, but there could still be a lifeline for the airline industry the treasury secretary and speaker of the house were back on the phone again yesterday, they talked twice about a standalone bill for the airlines now, both in the house and in the senate, there are proposals that would provide $25 billion in relief and extend the payroll support program through march. the house took up that measure last week, but it was quickly blocked by republicans over procedural issues. in the senate there is a bipartisan bill with two republican and two democratic co-sponsors. i'm told after the president tweeted, roger wicker started polling his colleagues to see if there was any potential hope of moving that legislation forward. there is an important difference between the house and senate versions of the bill the ho

if we flip it over to ibm, singing the big blues at this hour. the tech stalwart falling to the bottom of the dow 30 after failing to issue guidance for the current quarter. ibm pointing the finger at covid-19 uncertainties as clients pull back on spending and delay projects. they say nope, we're not going to give guidance. stock down 6.33%. ibm also posting its third straight quarterly revenue decline but still managing to eke out a top line beat due to strength in its cloud services business. at least four firms said you know what, we don't see that. we don't care. we are cutting our price targets on the shares. ibm now down $7.90 to $117.68. >>> meanwhile, another tech giant has its own troubles at this hour. the department of justice filing an antitrust lawsuit against google today. accusing of it illegal monopolization of the search and advertising markets. right now it's not hurting the stock. it's up 2%. but you know, the details of this are pretty interesting. ashley: yes, they are. they kind of ring a bell. talking of which, back in 1974

ibm, i think that's up -- yes. we are not used to this. 6% up for ibm.ng to make it simpler for ibm investors they say tax free, so big blue spending manufacturing service's units which helps companies reduce cost and makes it easier to find data and that unit is worth $500 billion in growth industry. so what's left, ibm wants to focus on cloud which is margins and more profitable. new ceo took over this year, his name is arvid, also behind ibm's biggest acquisition in history buying company around $34 billion. ibm as you know is being left behind in a technology war. the stock is down over 7% this year compared to that big cloud players like amazon, microsoft, google, all up 10 and 70% on the year and big blue is trying to find some way to stay relevant. stuart: i wonder how many viewers remember that ibm is called big blue. susan: really? i thought that was known knowledge. stuart: ibm stands for i've been moved. [laughter] susan: here we go. stuart: i remember these days. ibm, look at them up, up 6 bucks. the airlines, they are still hoping for stimul

at ibm headquarters in new york. it's 11:00 a.m. on wall street and "squawk alley" is live ♪ >>> good thursday morning. i'm carl quintanilla we look for a potential stimulus deal again there is a look at faang names, jon. dow is on pace for the best week in two weeks and s&p 500, nas in six weeks. >> yeah. we'll start with tech. more broadly, ipos and big tech valuations have been surging culture questions continue to brew in silicon valley as well i want to talk about that and a lot more with long time venture capitalist whose newest venture is a private and middle school with entrepreneurship baked into the curriculum draper associates founder tim draper joins us now. tim, good to see you i want to start with your take on these markets i was talking just yesterday to the founder of rike. he said he isn't going public this year because he underestimated how well the ipo market was going to perform in a pandemic has that surprised you and what are you saying about it to your portfolio companies? >> absolutely. i was blindsided i did

the list ibm has devised is long but they do have some interesting points.r example a box like this, that looks pretty harmless, a place where you might leave a nice gift message for somebody, or when it comes to online banking, somewhere where you may make a note of a reference. but they are also being used for more sinister purposes. a place where perpetrators can continue their abuse. 0ne suggested solution is to make them ‘smart‘, automatically monitoring for abusive language patterns of behaviour to potentially spot and stop them happening. but some changes suggested are hard to implement and need a bigger rethink. if the devices in our home had obvious alerts when they are remotely activated, and kept a digital record of who did what, when, this would make it difficult for abusers to obscure and distort the truth. furthermore, having a manual override on the devices would return some of the power to the local user. with smart devices becoming more commonplace, this issue has become more urgent to tackle. everything i had was, like, hand—me—down phones,

i think it is good for ibm.e importantly it underscores the role of cloud in our world for a long time to go. david, you talked earlier about tech. how much exposure should investor have to cloud and other nuances in the digital economy? >> i think it was a great move by ibm. i've been saying for a while cloud is the future, it really is. cloud companies have the ability to go grow earnings, keep costs under control even while the economy is struggling. so i think for investors we have to look at cloud. with valuations are frothy. remember we're paying for future earnings for these companies many years out. so why i say taxes are important. but as investors i want to own cloud today for earnings we'll see three to five years down the road. for me it's a buy. i like adobe and company like docusign as well. charles: docusign and adobe. i like those two. rebecca, give you the last word. we have less than a minute to go. a lot of moving parts in the market. what is the thing standing out most to you? >> airline stim

ibm is really one of those companies that reinvented itself, connell.estors want to see what that will look like. connell: yep. not much movement. stock down about a dollar after the bell. jackie, thank you. >>> staying put we move to the other side of things with democratic presidential candidate joe biden and mr. biden is staying in wilmington, delaware today while his running mate, senator kamala harris making a pitch to voters in the battle ground state of florida. peter doocy covering the biden campaign live from wilmington with the latest hey, peter. reporter: connell, good afternoon, cameras caught a glimpse of joe biden this afternoon while he was heading into a theater in wilmington, he went behind closed doors to tape a a "60 minutes" interview that air air on sundays. he has no public devents. he is expected to stay here until thursday's debate in nashville. kamala harris is returning to the campaign trail after staying low after a few days when a staffer got covid. >> one in five floridians said they can't pay the rent in november. how we do

the list ibm has devised is long but they do have some interesting points.oks pretty harmless, also a place where you might leave a nice gift message to somebody, or when it comes to online banking, somewhere where you may make a note of a reference. but they are also being used for more sinister purposes. a place where perpetrators can continue their abuse. one suggested solution is to make them ‘5mart‘, automatically monitoring for abusive language patterns of behaviour to potentially spot and stop them happening. but some changes suggested are hard to implement and need a bigger rethink. if the devices in our home had obvious alerts when they are remotely activated, and kept a digital record of who did what, when, this would make it difficult for abusers to obscure and distort the truth. furthermore, having a manual override on the devices would return some of the power to the local user. with smart devices becoming more commonplace, this issue has become more urgent to tackle. everything i had was like hand—me—down phones, hand—me—down laptops, so he wou

that is something to watch on ibm. we don't own a position but we have some ibm.bs came out this morning, european bank crushed it, absolutely crushed it. their net today absolutely doubled from the year before. they're talking about sustainable investing as kind of like an absolute class their investors have been looking for. they're saying that they're only large -- and that is trend and a lot of positive things so ubs up big today, too. charles: also, i should note ubs said they're bringing their buyback next next year. that is big news. steve what is standing out sofar? >> really good earnings season so far. you're beating by 21% on the bottom line, that is the second beat rate ever recorded. only one that was better was last quarter. if you look in the big banks were encouraging because when you looked at the credit metric they were better than expected which suggested that the consumer is pretty healthy and sets us up i think for a nice holiday season. the beat rates are there and we're not just beating expectations that are falling. it is not jump over a lo

get with the program. >> we'll keep an eye on ibm. >> maybe doj gives them something.gle that's a joke. >> i get it. >> that's a joke okay >> got it. got it >> how about the life of ants? >> i don't even know what he's talking about. which is good, because we got to go anyway. we got to go anyway. we'll be back with an opening bellig aerhi rhtft ts. uber and lyft are like every big guy i've ever brought down. prop 22 doesn't "help" their drivers-- it denies them benefits. 22 doesn't help women. it actually weakens sexual harassment laws, which are meant to protect them. uber and lyft aren't even required to investigate sexual harassment claims. i agree with the la times: no on 22. uber and lyft want all the power. so, show them the real power is you. vote no on prop 22. >>> as far as q3 earnings go, we covered ibm, proctor we haven't gotten to lockheed, which not only raises the guide, but got another div hike, which is adding to a longer list these days >> this is a company now run by jim takelet, he was unbelievable, a lot of people are, by the way, are worried what

it's up 5.25% to $130.53 but just remember, ibm was $181 a share back in 2017. >>> eden vance getting a significant boost after morgan stanley announced today plans to acquire the mutual fund manager for $7 billion. under the deal shareholders would get $56.50 per share. it's at $60.48, plus you get the one-time dividend payout. morgan stanley's buy comes days after it closed its acquisition of e-trade. eaton advance up 47%. >>> we have a pretty picture for coty investors. double digit percentage jump for the stock, up 12.9% on news that it's expanding its kylie skin care line. there she is with purple hair. the brand created by wildly popular reality star kylie jenner. the cosmetic maker will launch direct-to-consumer web sites for the line in the uk, france, germany and australia. >>> we should look at the rest of the beauty sector to see if they are getting any kind of bump. that would include ulta, estee lauder, sally. they are all moving higher. >>> that brings us to mcdonald's. a stretch, you say, from kylie to mcdonald's? actually not. kylie's ex-boyfriend, rapper travis scott'

the ceo took over in april and wants to shed ibm's division.te computer systems accounts for about one quarter of the company's total sales. after that, he says he will go all in on the cloud and ai. google has reported to be in talks to buy a london outfit for about $1 billion in what would be one of the biggest property deals in the city this year. it's negotiating to buy the tower, although nothing has yet been agreed. google already occupies about 40% of the complex north. it is also building a new campus in the area. a snapshot of the notable views ahead of the start of the asian trading day. e.m. rally has been losing steam a bit. investors on the sidelines, focused on the u.s. election so what is the sentiment? sophie: at fidelity international, paul says he's waiting to trade price action after november 3 given the liquidity spinning out and elevating, approaching that date. he cautions properly pre-election positions are likely to get squeezed, with a comfortable consensus for e.m. gains on a blue suite potentially unraveling. morgan s

ibm with a challenged report yesterday. yields give me nothing this morning, the dollar gives me nothing, maybe a little bit weaker dollar as well. and i would note sterling, 1.2972. anna: dollar weakness seems to be the overall theme. out foround, we hold signals for concessions on the e.u. side, wanting full on signal of a compromise. we will see if that is forthcoming. the euro gaming -- the euro gaining ground despite the return of some fairly restrictive measures. watching italy, watching france, and germany as well. in terms of the stock story in europe, there is some optimism when it comes to earnings because we have had a host of earnings out this morning, and europe has turned things around from a negative start to trade into a positive picture, whether it is computer peripherals at ubs,ech, bank earnings at all of those early signs from the earnings season. let's get it to the stimulus conversation stateside. very much part of the conversation, nancy pelosi says she and steven mnuchin are continuing to narrow thei

so a small team of employees at ibm have decided to try and solve the problem. they have devised a new set of design principles for tech companies to build on. right at the beginning of our research, we saw that there is help and guidance available to people who are facing this kind of abuse. but the bulk of it focuses on keeping safe by educating yourself in the technology. we believe that the burden of safety shouldn't fall solely on the shoulders of the abuser. they do have some interesting points. take for example a box like this, that looks pretty harmless. a place where you might leave a nice gift message for somebody. 0r, leave a nice gift message for somebody. or, when it comes to online banking, a place where you might leave a reference. but they are also being used for more sinister purposes. a place where the perpetrator can continue their abuse. 0ne suggested solution is to make them smart, automatically monitoring for abusive language or patterns of behaviour to potentially but and stop them happening. but some changes suggested are hard to implemen

ibm is putting off its legacy unit as it pegs its future to the cloud.ss currently part of ibm's global tech services division and handles day-to-day operations such as managing client data vendors and traditional i.t. support. it has 4600 clients and an order book of $58 billion, the move effectively's let's ibm in two, i.t. management services and the hybrid cloud and ai unit. facebook has pulled a u.s.-based network of fake accounts that were trying to sway public opinion in favor of president trump, facebook says the network began in 2018 and was still working this year criticizing joe biden and the democrats and framing the president and republicans. the accounts comments most regally on the new york times, washington post, fox, and cnn. up next, chinese markets come back online after the golden week break, we will hear from hao hong about china's recovery. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and re

then there's the upset ibm over their competition, etc.he margin beliefs on amazon, not only forward a quarter or two, but forward five years? and they sustain margins across these disparate businesses? about i don't think it is sustaining margins. i think you've hit on something that is sort of misunderstood. our view is that what amazon is doing is sort of intentionally having selling products to consumers at low margin, using that infrastructure to sell services to businesses at a profit. what are those services? it is ads, commissions, filled by amazon. it is not predicated on making margins on e-commerce. it is all about making margin on services. the market tends to go back and forth on amazon. sometimes they care about revenue growth. sometimes they care about margins. i am sure we will go back at some juncture in the future. tom: what is your sustained revenue view? jason: the interesting thing about amazon is it is global, but really they have demonstrated the efficacy of the strategy of using this dual poppers -- this dual purpos

red hat is that excitement for ibm. is the case, is that a catalyst from the financial office saying the financial flexibility is so great it may not be there in 12 months? colin: let's step back and take a look at what is happening in the market. if you look at deal volume in q3 it is up 25% over q2. maybe not that impressive because q2 was the most anemic quarter we have ever seen for deals since the dot com. 3% over the prior year. deal value in the third quarter was almost $500 billion and there were 19 megadeal spirit what is driving people to the megadeal's is what you are talking about. caps on balance sheets, private equity drive power, and how well the stock market has been doing, a lot of the deals were done with a mix of cash and stock. one of the things to think about with the megadeal's is it is a drive for scale. eight of the top 10 deals were horizontal deals. they were to acquire competitors in new markets and nine out of the top 10 were done in the same industry. semiconductors and health care and biote

and no earnings boost to ibm, that's the biggest drag on the dow after reporting its third straight quarter of revenue declin declines and financials one of the best performing sectors thanks to regional banks, helping the rest of the group kelly. >> john, thank you we begin with the two big stories out of washington today. elan has the story but first kayla tausche is tracking new developments on stimulus aid >> reporter: today marks the end of the 48-hour window that nancy pelosi set to reach a stimulus deal with the administration, but today she widened that wend o -- window ever so slightly saying it isn't that this day was a day that we would have a deal, it was a deal that we would have our terms on the table to be able to go to the next step. poli pelosi said a deal must be reached by the end of this week and to pass by election day and she expects revised terms when she and steven mnuchin speak later today. senator thune said he thought it would be difficult to get the support to pass a bipartisan package. republicans are set to vote again on a series of smaller bills. today on a $1