bob iger addressed cord cutting with julia boorstin. >> are we concerned about cord cutting? yes, that's an important business for us. but it is the reason why we're going into this other space, why we're pivoting strategically to give us an opportunity now and contend with the transformation that is going on in the traditional space, but to thrive and basically completely different marketplace, under different marketplace conditions. >> julia will join us in the next hour with more from that interview. of course, going into the quarter, i had heard from other investors, the concern was, well, maybe things on the cord cutting front, espn in terms of subs worsen. that was not the problem the problem was things like the fox studio, which in the conference call, mr. iger said suffered from the long period of -- >> 2017, who was there >> lack of decision-making so the fox studio. also not as well attended as they had thought for the "star wars" attraction >> it was kind of like yogi berra. so crowded that nobody goes there. >> exactly people stayed away because they were worried

julia boorstin sat down exclusively with disney ceo bob iger to talk about the company'a gy. >> reporterob ierr saying the city's lowest expected results launch of the streaming business. with cord cutting continuing to weigh on the media networks business as well as the paid immediate raw providers such a at&t, i asked iger about how concerned he is about projections that cord cutting will accelerate. are we concerned about cord cutting? yes. it has been an important business for us. but it is the reason we areng pivo strategically, to give us an opportunity to not only contend with the transformation going on in the traditional space but to thrive and basically completely different >> iger says the company is investing to succeed in the streaming wars, announcing disney will sell a bundle of disney plus and hulu with ads for 5.99, a discount. >> our goal all along was to achieve scale, particularly with disney plus, as soon as possible. to basically sign up as many subscribers as possible and get them into the service, giving them a chance to enjoy the great tual property and the produ

bob iger addressed the poor performance in an exclusive interview. >>> no, it's not more challenging.ore costly? clearly the results of some of the businesses, notably the studio were disappointing to us. i don't know if you consider that more costly i guess that's the right way to put it but we knew in buying these assets which are global in nature and large, significant in nature t nature, it would be complex in terms of integration we were undaunted by it. >> disney continues to spend heavily on its direct to consumer or streaming business they expect to report a 9$900 million operating loss in this quarter, wider than estimates. disney will launch disney plus in november and iger announced subscribers can sign up for 12.99 a month, that's on participant with netflix and amazon prime also notable, the company says the opening of the "star wars" galaxy's edge area in disneyland cut into attendance at its theme parks, and some guests stayed away because of big crowds >> nobody goes there anymore, too crowded apparently thank you very much. >>> we are just getting started on "worldwid

julia boorstin sat down with bob iger last night and joins us now with more from that conversation. >: bog ieber telling me this quarter's results reflect the costs of the company's transformation as it integrates fox and prepares to launch disney plus with cord cutting continuing to weigh on disney's media networks business as well as the paid tv providers such as at&t, i asked iger how concerned he is about projections that cord cutting will only accelerate >> are we concerned about cord cutting, yes, that's been an important business for us, but it's the reason why we're going into this other space, why we're pivoting strategically to give us an opportunity now to contend with the transformation that's going on in the traditional space, but to thrive in basically complete different market police -- under different marketplace conditions. >> with disney plus entering a very crowded market with apple tv launching this fall, then hbo max and nbc universal's streaming services launching next year, i asked iger if he sees the need for more acquisitions either in content or in more inter

iger thank you. >>> coming up, take a check on futures.ve been trading pretty much in tandem with yields and we saw the yields up premarket session lows of 162% on the ten year we did have the dow futures down at the lowest point of the session and we have recouped some of the losses as we see the 4. bk t yieldacupo 168% we'll continue to follow this action straight ahead. >>> welcome back to "squawk box. this is a picture we have been watching very, very closely for you. that is the u.s. equity futures, s&p 500 is looking to be down 18 pounds a 0.7% of a decline the dow is looking to be down 190 and nasdaq lower by 40 points we have been moving pretty much in tandem with the ten year yield and it's breaching 1.63% in the past hour we're back up to 164.5, a precipitous move considering we started this move at around 171% so we're watching this relationship very closely as we head out to the open in just an hour's time. mike santoli is joining us on the "squawk" news line sam stovall of cfr research. michael, some pretty interesting moves,

>> reporter: so i pressed iger on that question because they're offering a $5 discount each month to offer these three services together. but what iger pointed out is that the hulu they are offering is the one with ads and reaching broader distribution for that service getting more people to use that service will help them make more money because those ads are so valuable. they are premium content so they can attract top advertisers, but they have the advantage of getting the kind of targeting you get from digital so they are hoping that that will generate some new revenue stream even if they don't make money on the subscriptions itself >> disney was one of the major reasons that the dow was still negative at this hour. the nasdaq did just go positive. it is up by about 3 points in there apple is no longer one of the top three phone makers in the world. but if they make a foldable phone, they would regain a top spot finds more than a third of consumers had a reasonably high interest in bufrming a folding iphone, so much for the consumer and tariff, all the fears, they would be willin

like bob iger said at the start of the call earlier, this is a very complex quarter. of moving parts as the integrate fox into disney. i think it was a good quarter because it is building up to what i believe will be a very successful launch of disney plus. i have set it for a long time, content is king. and disney, especially with the merger of fox, is the king of content. they have so far $8 billion in box office revenue which is a revenue in the first seven months of this year. they have over 36% of box office revenue. the next biggest competitor has 14%. they own the box office, they own content which will feed into the launch of disney plus and also drives theme park attendance and license product sales. eventually, it works its way through. they announced today the a package of hulu and espn plus together with disney plus for $13. shery: is there a risk of disney relying too much on movies, theme parks? ivan: that is their business. that is what they are good at. of seven of the top 10 grossing movies of all time are disney movies now. emily: what is your take o

bob iger blamed the disappointing results on the film studio.dark phoenix, an x-men sequel that grossed just $250 million worldwide. that was a major drag on disney's box office. disney announced it is getting rid of most of the fox films under development which were acquired in the asset purchase. the company said subscribers will pay $12.99 a month for disney plus, espn plus and ad supported hulu. it will be available on novembe. lauren: it's the same price as the typical netflix plan. they're going head to head. earnings season continues, lyft reports after the bell today. expected to post a loss, revenue, $809 million, investors are hoping for some better news after the stock's dismal performance since the march ipo. the rival of lyft, uber, they report tomorrow after the close. analysts expecting that company to report a loss as well, both lyft and uber are not saying when they plan to turn a profit and in this sort of equity environment, that's important. cheryl: president trump is set to visit the grief-stricken communities of el paso, te

ceo bob iger stressing that the lower than expected results are a direct result of the big changes he's made, the fox acquisition and disney's pivot to direct to consumer streaming. >> our results reflect efforts to integrate the assets, businesses and talent we acquired in order to enhance and advance our strategic integration. implementation of our integration plan is under way, and we remain confident in our ability to execute our strategy to drive maximum value from the combined company and our appreciation for the long-term value we can create has increased. the cfo saying the acquisition of 21st century fox and taking control of hulu will have a dilutive impact on the fourth quarter of about 45 cents per share saying they're still on track for the acquisitio ak concretie i earnings in 2021 disney saying the next leg of growth will be driven by the value of its new content library. >> we're also focused on leveraging fox's vast library of great titles to enhance the mix on our dtv platforms >> as for the lore thawer than expected results at disneyland, iger said there were huge con

bob iger today on the call gave a surprising mea culpa.said, we tried too hard to limit attendance, because we thought crowds would be too big. they had a reservation system for the attractions. they have never done that before. everyone in anaheim raised hotel prices. they didn't have that other big attraction they were going to open. people just stayed away. same at walt disney world in florida, he said people stayed away because they are waiting for that to open later this month. emily: let's talk about streaming. obviously, streaming is way down on some of the expenses this quarter, but disney firing a shot at netflix, announcing a price for not just one, but three streaming services in one. take a listen to this from the call. >> in the united states, consumers will be able to subscribe to a bundle of disney plus, espn plus, and add supported hulu for $12.99 a month. the bundle will be available on our november 12 launch date. emily: disney plus, their new service, espn, and hulu for $13? chris: yes, which is coincidentally the price

speaking of the results, ceo bob iger said the quarter reflected the company‘s effo rts the quarter reflectedhance and advance its strategic transformation. michelle fleu ry strategic transformation. michelle fleury in new york. protesters in hong kong have been issued with a stern warning by china that attempts to quote" play with fire will only backfire", the message came as the city comes under pressure from nine weekends in a row of anti—government demonstrations. mariko 0i joins me now from the city. mariko, obviously a strong warning from china, but it doesn‘t appear to be deterring protesters at all. there were clashes again last night, but telus again what businesses you‘ve talked to have told you about the impact that this is having on them —— tell us that this is having on them —— tell u . that this is having on them —— tell us again? if you speak to shop owners who close their stores on monday during that strike, you can imagine they are very supportive of the young protesters, but at the same time others are starting to get and what a little bit irritated by all the major disrupti

no, 2015 four years ago, bob iger on the earnings call made the comments about espn that extent stock lower and it stayed there for years. how high is the bar? >> there is no sign of espn growing or any of its cable networks, abc, disney, anything. they need to really see growth now, disney came out in may and said we see 60 to 90 million subscribers happening. they do have fierce competition. the other thing i'm looking at, they are the film mega to beat i mean, they own the market. 40% of the market. where does that revenue come from china. sometimes they have blocked them if this spills over and they don't allow disney to export films, you can imagine investors will get weary what names do you think have most exposure? or any oversold? >> even though i like them long term some of the company that's are component vendors, semiconductors, that might be a great place over the long term for a 5g buildout. in the near term, they'll be under some pressure it worries me in the short term >> all right appreciate it. thank you very much. >>> coming up, did china just blink by taking steps t

they dominate in the studio business bob iger is a terrific executive in that regard and really has ahe future is going. i think the question is what happens with their streaming, which they have gotten to very late disney has a long history of sort of screwing up around the internet and they have tried a lot of things and i think this time they have to get it right because the audience is going elsewhere. even though they have the content, they'll have to make a big bet on themselves being the distributor of that terrific content they have. so that's really the question is how it's going -- what's it going to look like in a year is the stuff i'd be more interested in hearing and seeing how they do in this new streaming service. >> wall street is optimistic, kara the stock is up 30% so far this year, one of the best performers they liked the announcement of the price on disney. >> right. >> netflix had a stumble last quarter. i'm just wonder how you see the streaming wars shaking out over the next 12 months who are the winners and who are the leaders? >> i think netflix is pretty good

the stock is up 30% year to date, you know, bob iger also made the comment on his call that it's goingtake a couple of years for streaming service to turn around like netflix and some of the others, they are spending a lot of money to make it grow and investors are betting on. they might be disappointed. dagen: here is the kicker and disney said this year, disney plus which is stand-alone is going to cost 6.99 a month, disney plus will come in a bundle along with espn plus and hulu for 12.99, same price as netflix most popular subscription plan, you know what netflix doesn't have live sports. that's what you get with the bundle, that's a very competitive price and that is a very attractive option. maria: probably the most important intellectual property on television. >> sure, sure, iger did say on the call that this was the most important product the company has launched since his tenure. the other thing is they have to scale it very quickly, consumers are about to inundated with streaming services, pay to play things and i think he believes he has to go quick, he has to scale it very

it is harder than what they expected, but bob iger says they are taking on netflix.t cvs. solid earnings coming out. they actually raised guidance for the second quarter in a row. they did really well on pharmacies and drug benefit services and wellness health insurance. we talk about earnings revisions to the downside, earnings being exposed to trade war, this is an insulated company that is working. david: and they've got they regulatory thing off their back. fedex.urn to to talk about that, we are joined by brooke sutherland. fedex has said no thank you, amazon. brooke: no thank you on the ground service. this follows an announcement in june when they said they were going to stop u.s. air delivery service for amazon. when they made that announcement, they were at pains to indicate this does not affect parts of their business, and now it seems they are changing their tune. this reflects to me the fact that amazon is becoming a much more legitimate competitor and logistics, and fedex has waived this off, but they are coming to grips with the fact that amazon is not

. >>> disney's ceo, bob iger, says the company will offer a bundle of disney plus, hulu and espn plus for 12.99 a month. the bundle price is cheaper than or on participant with rivals like netflix and amazon prime. it's also cheaper than the priss of hbo max, which is $16 to $17 a month. hulu is currently 5.99 a month with ads, and espn plus is 4.99 a month. >>> and twitter is testing a snooze button feature. this feature will mute the app's push notifications for a time. you will still see new replies and tweets in the notifications tab where they will gather until you're ready to look at them or swipe them away. this could be twitter's answer to other social network offerings relating to user burnout. >> we were talking about the fact that you can unfollow somebody or mute somebody, but snooze is an interesting option. sometimes you don't want to hear one particular conversation. >> i have a friend who will drive tweet baseball games, but otherwise is super interesting. that would be helpful in that case. >> perfect. >> i like it. >>> coming up on "today in the bay," kari has the fo

i also want to touch on the lower-than-expected results at disneyland, the anaheim park iger saying there was so much concern about crowding around the "star wars" galaxy's edge land, that kep peopt people awae crowding concern and the fact that ticket prices were higher and hotels in the region raised their prices around the launch long term he said they're not concerned because guest satisfaction is high and they're looking forward to the launch of the second ride. the fact it opened with one ride may have also weighed on keeping the fans away. guys, back to you. >> julia, keep us posted on the conference call. julia boorstin in los angeles for us, at disney actually let's trade this this is tough because fox integration makes year-on-year comparisons difficult. studios, of course, "avengers" which was guy's favorite movie, which was released along "dark phoenix. you had "avengers" and the flop of "dark phoenix" which makes it tough. >> if disney didn't announce the 12.99-bundle, i think the stock would be down more you have to admit the stock has traded remarkably well since the end of

and we talk a lot about disney versus netflix what we heard from bob iger was quality over quantity. and i think this is a really important point. netflix is catering to a different audience than disney especially if we're talking about their bundle disney plus, hulu and espn if i think about netflix and how you have to generate that constant stream of content for your adult audience compared to the disney audience. i have a 4-year-old. she does not need to see a different movie every day. i can recite the words to "finding nemo. it's that brand and it's that quality. >> what about netflix since you mention it netflix is down 20%, a little less than that, over three months >> look, i think -- >> what turns that stock around? >> i think what turns it around is when you see what the offerings are going to be from apple, from comcast. and when you see how the disney offer takes off. i think there's room for two players. i think disney has a very defined universe i don't think it's got a big adult universe because hulu and espn plus, while espn plus has 2 million subscribers now, they'll

now iger says they have all of the pieces in place.are positioned as well as they launch disy plusn rydition of original and lib content from fox will only further strengthen our direct-to-consumer offerings. for "nightly business report", i'm julia boorstin in burbank, california. >>> major drug distributors offer to settle opioid lawsuits. that's where we begin tonight's market focus. bloomberg reports they are looking to pay $10 billion to settle claims that the companiee helpedthe u.s. opioid epidemic. the companies are in continuing talks with a group of state attorneys general who countered with a demand of $45 billion instead to cover the cost. all three companies fell in today's trading. >>> the fda isooking t bring criminal action against novartis, accusing the pharmaceutical company of knowingly submitting false data in its application for a more than t2 million geneir by drug. the agency believes the treatment will remain on the market as it continues its evaluation the shares dropped to 88.22. estimatesshack beat thanks to

the studio's chief exec bob iger said there will also be "reimaginations" of other popular films it nowm studio 20th century fox. it comes as profits at the entertainment giant fell 51% to $1.abn in the last three months, despite revenues rising 33%. london's ftse 100 is up — but that's after a run of six losing sessions triggered by worries over the us—china trade dispute. however, poor earnings for global commodities trader glencore and a handful of other companieslimited gains. mining giant glencore fell 2.5% and hit a near three—year low after an almost one—third drop in core profit. gains in shares of heavyweight constituents such as shell, health care firms astrazeneca and glaxosmithkline as well as hsbc helped to keep the index in positive territory though. the rush to safe havens amongst investors has pushed up the price of gold as well as us government that, one of those that tends to be in demand when the global trade outlook looks so uncertain. that's all the business news. remaking home alone, wherever next! the music festival boardmasters has been cancelled, just hours befo

bob iger points out that they integrated 20th century fox assets into the balance sheet. in terms of some of the theerent business lines, consumer-products part of the business, a big selling point. up 6.6% quarter on quarter. we see cable networks revenue up and the media networks business, 6.7 billion in revenue, a gain of about 9% year on year. joe: in the grand scheme of things. this stock has been on a monster tear. with the mess -- even with , done quite well for investors. scarlet: when you look at earnings, and we mentioned how changed his forecast, what does that mean for you and how you recommend allocation? overall view is that it will be relatively range bound. we expected to trade in plus 10%, minus 10%. when you look at expectations going into the second half of the year, that is something that we felt the expectations were a little too -- and youions get lower have that situation now where you have surprises to the upside but with a lower bar. adjustmenting for an . caroline: now the turn of phrase everyone likes. your perspective from a global perspective.

. >> is it >> i mention it -- >> last night you said i'm with iger. >> i am with iger.s of dollars number they have auditors they have a very powerful board. the idea they have systematically overstated their earnings was a little -- put it in the ge category, ge has done, i think, what they had to do the idea that disney, no i recoil from that >> the fed should be the ultimate golf ball, it was supposed to be hit out of the park like home run derby no you can't give it to me. >> nor will i. >> opening bell, big board this morning, we take a look at who is ringing the bell, aware asset management they celebrate the launch of their new etf. nasdaq, european paper and packaging producer metsaboard. a lot of news in apple ft says they'll spend $6 billion in content, not as much as netflix's 15, but -- >> that's a big number. >> true. >> i don't know it is true but to go from not quite zero, but a low number to 6, big ramp in a very short amount of time takes a while to get everything moving that seems high. >> that's a very big number. i agree with that. you see apple, you

i guess one could argue, also, they derive benefits of exposure to other companies i'm thinking of igerand that. >> they do but there's an argument for exposure and learning from different businesses and widening perspective and ways to do that on average where they don't necessarily -- where they don't have governance responsibilities, too. i think on balance spreading yourself too thin as a ceo being on different boards where you have governance responsibility and shareholder responsibility just has too much risk so on balance, yes, some ceos can do it very well and all can learn from it but i think there are other way that is ceos to learn without putting the risk of shareholder value at risk. >> yeah. jeff, just to wrap all of this up, i mean, is there data out there, have you been tracking this yourself in terms of the impact of ceos on multiple boards and whether that overextension does translate to poor invesths? >> it's hard to track it because times are changing and the pace of change has sped up literally tenfold in the last ten years and when i say that i mean not only from a

these spun out of tiger management which is run by julia robinson. ,iger global, viking global they allarting positions in uber. viking took the biggest eight at $620 million. as some of these hedge funds got involved with uber when it was private. tiger is an example that got in at the private stake. that was one of the more popular stocks. anything fromduce recent market volatility? give us a window and understanding who has done well and who has not? hema: the tricky thing with 13f is it hisses oracle. -- is it is historical. these funds may not still be in a position, they may not have the same exposure. it is tricky to take a deduction of what it means. the 13f's show is u.s. long equity positions. we do not know if it is a hedge against something else. we do not know what the shorts are. you get a glimpse into some of these secretive hedge funds, but it does not show you the whole picture. me,ie: also interesting to many hedge funds up their stakes in mid-caps. thank you. great stories emanating from the 13f. hema parmar, hedge fund reporter. guy: a quick look at the european clos

into next year, even though disney+, the streaming company, is not going to make a profit by bob iger'sntil 2024. vonnie: the selling today, could it potentially be seen just as some profit taking? porter: exactly. it is actually a pretty good time to buy disney. if you hold it for a few months, you will see the stock get on the elevator backup. guy: good morning. clearly there is a land grab going on at the moment. i have to question, how long is the $12.99 price tag attached to the streaming service sustainable? porter: i think a lot of that depends on what the competition does. you saw what happened when netflix earlier this year raised their prices. traditionally they have a big drop in subscribers. canisney keeps -- and they afford to keep $12.99 for a arele of years -- they projecting very modest subscriber growth through the next two or three years. i think they are going to well or 25 the 24 million million they are looking for at the end of 2023. they could easily start to approach 50 million to 100 million that price, and i think that's where they may stay. guy: that's a lot o

i'm with iger. i say your grandson is right let's go to pedro in florida. >> caller: boo-yah. >> yo, yo. >> caller: i'm a big fan second-time caller listen, i'm in the house of pain with my stock vm ware of the news of the acquisition. >> yeah. >> caller: with the report earnings this week, should i buy more, hold or sell >> i can't say i was that happy with the pivotal news about the deal i think vm ware can bring out good earnings and under promise so this time they over deliver i can say a bottom is no harry in pennsylvania, please, harry? >> caller: hey, this is harry from new port, pennsylvania, jim. i bought all of your books and i'm absolutely loving concessioconcessio "confessions of a street addict". >> you're too nice. >> reporter: my girlfriend started investing and loves your show i bought royal dutch last week more or less as a value play and i'm wondering what your thoughts are on the oil sector, not just royal dutch shell itself but the oil sector and it's just been beating up -- >> n

ginger, what i'm doing right now, i don't know if you can hear, i'm clicking on my keybrd.i otema bob iger proposing you should be a disney legend next year given all the work you've done this past weekend. send. >> keep those soon, ginger. >>> still ahead, the gigantic cat that went viral last week in pennsylvania, and there are some new developments about his future this morning. >>> an extreme car break-in, a woman who parked her that's why we take a totalaking approach to health and wellness, so you can age actively. and we simplify medicare by connecting you to the right coverage, resources and care. so you can keep pursuing the life you love. aetna medicare solutions. and we are well past wethe honeymoon phase. oooh lufa. ocupado tom. at&t, what's this i hear about you advertising a 100% fiber network? only like a fraction of my customers can get that. that's it?!? you have such a glass half-empty attitude. the glass is more than half-empty! you need to relax tom. oww! tom, you need a little tom time. a little tt. stop living with at&t. xfinity delivers gig speeds to more homes than

how much money bob iger from disney given to the democrats? are we going to start boycotting every business that gives money here and there? it's a no-win situation. i disagree with it. you do what you want to do. >> raymond: it's the politicization of everything. the president hauled in $12 million. actor army hammer is also jumping on the shame train. he's calling out a major executive supporting trump tweeting, hey, while everyone seems to be on equinox things, one of trump's largest donors is head of marvel. seems to me this is the real hunt. an attempt to purge any one from hollywood that might support someone that the majority disagrees with there. >> i think people should goingle arm and hammer that said to al gore senior, i will make your season al jr. president of the united states. i mean, there's a culture. i met arm and hammer. he's a nice guy. but this is freedom. what happens to democracy. what is happening to our democracy, people are afraid -- if they -- if kids are afraid to vote or speak their mind, it does have an effect. th

. >> i'd have to be accompanied by probably bob iger. >> jimmy: did you ever imagine you would coverong? is that something that ever crossed your mind? >> no, i never thought i really would. i mean, you never really think they're going to redo the "lion king". i didn't. it's a crazy thing. i met him, and he was really sweet. >> jimmy: elton or the lion? >> i studied with the lion for about six months but i met elton in i think it was italy, and he was really nice and sweet to us, and i was like i'm going to be simba, and i think he was like, this guy's crazy. he didn't know really what i was talking about. >> jimmy: so now in this movie, you're singing with beyonce, by the way. >> yes. [cheers and applause] >> jimmy: and that's, are you in the same room with beyonce when you guys are singing? >> no, i requested not to be. >> jimmy: you did. >> i did not want to be looking into beyonce's eyes while doing this. but actually, i was working on solo at the time, so i recorded at abbey road studios. >> jimmy: and they put your voices together. >> yes. >> jimmy: i imagine it's less intimida

i think bob iger, they were out for him.the night of the long knives now that's over. >> it is over, and disney opens up 2%. we'll see how it settles out of course, the entire market opening up rather strongly as you see right there on the realtime exchange back at our headquarters >> r we'll talk about viacom that stock is up also. resideo, a provider of critical comfort and security solutions in more than 150 million homes at the nasdaq, northern trust. that's a wealth management provider, asset management of course, banking you know northern trust. you mentioned viacom might as well get right to it. decent quarter they came in above -- looking for my notes here, sorry i'm like you they beat on advertising, better than had been anticipated, up three. film did a bit better. they had solid advertising growth, operating income was ahead of consensus at $757 million. overall, viacom responding positively as i said yesterday, it's getting really close i swear it really is viacom and cbs most likely early next week. >> going bac

iger is not a complicated guy. is it becoming complicated because there is no profits?ng. it is hard for analysts and investors to model this quarter. michael took his best stab at it this morning, but over time investors think this will work. tom: can you buy disney shares this morning? david: i one, because this is a tough year-over-year. this is the end of the marvel year -- marvel character universe. boy" the bestr avril lavigne song ever? paul: possibly. david pearl,rl, -- paul sweeney with us. jonathan ferro and i will consider lower yields, flatter yield curve. maybe even play some avril. this is bloomberg. ♪ hey! i'm bill slowsky jr., i live on my own now! i've got xfinity, because i like to live life in the fast lane. unlike my parents. you rambling about xfinity again? you're so cute when you get excited... anyways... i've got their app right here, i can troubleshoot. i can schedule a time for them to call me back, it's great! you have our number programmed in? ya i don't even know your phone anymore... excuse me?! what? i don't know your phone number. aw well

. >>> disney's ceo bob iger says the company will offer a streaming service for disney plus, hulu and espn plus for 1.99 1.99 -- 12.99 a month. the bundle price is cheaper than or or participant with rivals including netflix and amazon prime. it's also significantly cheaper of hbo max, which is $16 to $17 a month. hulu is 5.99 a month with ads, espn is $4.99 a month. and twitter is testing a snooze button which will mute the app's push notifications for a time. so one hour, three hours, 12 hours. you will still see new replies and tweets in the notifications tab where they will gather until you're ready to look at them or swipe them away. this could be twitter's answer to other social network offerings aimed at presenting user burnout. >> sometimes you don't want to unfo unfollow somebody, you just don't want them to ruin your favorite show. >>> grumpy cat is so last year. meet coconut rice bear. why? this sounds like a lot of people met coconut rice bear. he's a 4-year-old dog but he's the real deal. he apparently has some 400,000 instagram followers and the list is growing. the owne

. >>> thedisney's ceo bob iger sa they will offer a streaming package for 12.99 a month this starts on november 12th. the bundle price is cheaper than or or participant with rivals including netflix and amazon prime. it's also significantly cheaper of hbo max, which is $16 to $17 a month. hulu is 5.99 a month with ads, espn is $4.99 a month. and twitter is testing a snooze button which will mute the app's push notifications for a time. you will still see new replies and tweets in the notifications tab where they will gather until you're ready to look at them or swipe them away. this could be twitter's answer to other social network offerings relating to user burnout. >> i think this would help with the spoiler alert problem. if somebody is watching a show that just dropped, you can't watch it right then -- >> that's a way to do it. >> such a good point. especially for those of us that work early mornings, it's a common problem. >> today's news tomorrow is what we need. thanks. >>> here's a warning. don't use the restroom during thunderstorms. this story out of florida. a toilet explode

yankees so one more thing about barstool and where we're at right now, if you think about what bog igers is trying to do at disney and espn just passed 2 million in subscribers and disney is coming after netflix but if you think about barstool and talk about a billion, because the head start, it is hard to catch up to the avalanche that you built >> also a new shough on cnbc back in the fall. >> [ inaudible ]. >> we just won a big race and ryan lochte is an amazing comeback story and when you think about the great evander holyfield, i spent the last six months with him and he's on the way back and a fascinating guy a loveable -- >> i was on the apprentice with him. i want to thank both of you. that is a-rod and founder and ceo of a-rod corp. what a podcast and barstools ceo erika nardini who i hope will allow us to have a share one day in barstool sports in barstool sports "mad money" is back after this ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.trade. >>> just business after the bell disney

ceo bob iger says one of the biggest issues is underperformance by the entertainment assets they recently acquired from fox. i say that doesn't explain declining operating margins, cause of concern, yellow flag. we're following markets throughout the hour. growing worries about the global economy spiraling into recession. are those fears overblown? president trump head toggle paso right now after meeting with first-responders and victims despite loud calls from for him to stay away. why attempts to be reasonable are being met with tremendous anger and pushback. ♪ hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ as a doctor, i agree with cdc guidance. i recommend topical pain relievers first... like salonpas patch large. it's powerful, fda-approved to relieve moderate pain, yet non-addictive and gentle on the body. salonpas. it's good medicine. hisamitsu. charles: all three major indices as

a disney ceo bob iger says nothing more important than getting this right just real quickly james on mention of the dow is down almost 400 points right now worries about a global economic slowdown. so we're going continue to watch these markets today, all right fingers crossed a turn-around thank you very much jane. >>thank you. >>coming up next on the kron 4 morning news, how one california man rose through the ranks from gender all the way to the top a superintendent also after the break with thpolice chief is saying about this photo take a look at some his 2 officers tying a man to their horse. before we go we like to take a little peek outside and check in on conditions, the traffic and the weather traffic stacked up here heading into san francisco. busy as usual from the maze busy across the upper deck and you can see all the cloud cover but it's going to be a nice day we'll have specifics fo >>rajan texas this morning after an arrest of a man goes viral and now the police in galveston are apologizing. we have john lawrence explaining what happened. >>the galveston police depart

>> so bob iger has said he wants 90% awareness by the time they launch on november 12th. to do that, that means they're putting in every single theme park, they're buying billboards, they're going on abc, which they own. he said it was the most important media launch initiative since he's been there. he got there in 2005 >> henry -- >> i'll take the other side. >> a very bold view. it's going to kill netflix netflix is the brand in this space. they have an enormous content. they can continue to defend themselves disney will have all sorts of friction between the different units. do we cannibalize the sbrebl fees we're making on cable by putting it here. it's going to be all sorts of conflicts. disney will do well, but netflix is in a great position >> but do we need to be talking about it as a pie that gets carved up? you have both, it's 30 bucks a month. a lot of people are going to get both >> people are not going to have 27 subscriptions there's no way there will be a few big ones disney certainly has the heft to do it, especially if they bundle, which they're talking

revenue fell short and the company ceo, bob iger, absolutely came out, blamed charges related to the acquisition of 21st century fox's assets, saying you know what, they lost money, we expected them to do better. money pouring into the streaming media effort. disney is obviously ready to take a loss on that. they announced a streaming bundle that would compete with netflix. netflix is down on that news, down about 2.33%. you can see where it was yesterday. this is not a great two-day picture. >>> to the oil patch. it's firmly in bear market territory. oil prices getting crushed, down 4%. this is the after-market. not only on fears of slowing demand, because of the trade war and all of that, but also on a surprise build in both crude. anybody who went bullish on crude last week probably kicking themselves. crude down more than 20% from its april high but just last week it was at $58 a barrel. it's now at $51.47. >>> let me get to the greenback. after breaking out to new highs just last week, the dollar is losing altitude fast, falling against global currencies. it is slightly higher a

countries like the uae that became an economic powerhouse on the back of iger and workers. policy created a defect of second-class citizens rate. conservatives will not allow it to happen in the united states. if you truly believe there is no threat associated with illegal immigrants, how do you reconcile that? how many citizens and migrants alike he killed before you believe the government should do something? do you want to deny immigrants government assistance? will: a few issues. the human brain seems hardwired to create its own dichotomy. our president and conservative friends know this all too well. undocumented immigrants do not pose a threat to the united date. states. let's pass the gross misconception. our conservative friends correctly note that the vast majority of firearm crimes are committed by a small number of people. it is often alleged that undocumented immigrant are exceptionally violent and pose a national security rep. that is not true. texas is the only state that tracks it by immigration status. texas is hardly a state known for its treatment of undoc

this is what ceo bob iger says.s is so popular that people in california thought the lines would be so long, they decided not to go. then kind of nobody went but -- david: they are waiting for the first wave which never came? lauren: so they say. david: we wish them the best. they are part of the dow. speaking of the dow, it is trading down in premarket activity. come down a little bit more than it was the last time we mentioned just about ten points down. it's down about 154 points in premarket activity but anything can change when the bells ring on wall street. we will bring you the opening bell in just a moment. ♪ all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. content on t

that is incredibly important for disney and bog iger, in his 14 year tenure, he started off this is thet important product launch in his 14 years as ahead of disney. they took a charge for all the advertising for direct to consume service. this is big deal for disney. this is why they bought fox. getting all the content under one roof and marketing it to subscribers in the future. international subscribers, getting hulu into international markets along with disney and the rest. stuart: there was one other point raised in the earnings report by disany. susan: yeah. stuart: park attendance. i believe park attendance is down just a him because of? susan: hong kong. hong kong impacted protest, impacted some traffic at their theme park. they haven't seen any depressed attendants in shanghai. shanghai cost $5 billion. stuart: in california and florida -- susan: there was a bit of weakness. stuart: people were worried about the long, long lines to get into the "star wars" park. susan: talking about political impact i guess from the protests. impacted their attendance as well, and traffic. this

. >> adam, have you spoken to bob iger and to disney about how committed they will remain to theatersaving a long period of exclusivity to theaters once disney plus launches >> i have. they're committed as we are committed to them. just take disney as one example among many we sell more disney tickets than anybody else on the planet and more of our dollars coming into our theaters come from disney movies we have already told disney we'd be delighted to use all of our resources to help disney plus to support disney plus. we don't see disney plus as a threat to amc. we see it as additive to the movie ecosystem, an ecosystem that disney and amc are joined at the hip in supporting it's thriving right now. >> adam, you're very clear to your commitment to the likes of disney and the major studios is there a bit of an issue how much concentration is coming from the few of the studios? disney in particular is that something that worries you for the medium and long term to lose a bit of margin, pricing power? >> no. we are not concerned about it in the least. if you think about it, there's an

cheers and applause ] those two were named disney legends along with ten others with disney ceo bob igerevement and expression of profound gratitude. so well deserved by all 12 who received that honor. you know, robin, she was dressed for it. robin always a master of fashion. take a look at her shirt. that's a lot of mickey mouses right there. >> oh, my gosh. [ applause ] when you work for the company, you get a shirt like that. >> i want to know where she got that fabric. i want to do a whole suit. >> be careful what you wish for, michael. >> hey, i'm making you one too. we'll be twins. [ applause ] >> lots of surprises at the d23 expo. ginger, you were there for all of them. >> i was. i saw that shirt in person. it is hot, by the way. at d23, we did 45 interviews in two days including 85 people, two droids, two dogs and a frog. yeah, it was kermit. anyway, some of the people that walked through the doors were surprises to us like hilary duff, lizzie mcguire is back, everybody. [ cheers and applause ] >> reporter: it was a huge weekend in entertainment, the d23 expo. the most exclusive

bob iger and the other media moguls recognize china is a huge market.cine: if you look at the tech companies, do the supply chains come back to where they were in china or do they benefit the satellite countries or neighboring countries? that to the extent companies can move operations and supply chains, they will. we are seeing that throughout the supply chain intact knology, goods -- in technology, goods that are sensitive to the tariff process. to the extent they are stuck, they are stuck, but most of the global supply chains are flexible and can be moved. to the extent that companies are moving, i think they will continue to do so and flee china. the ongoing risk will not and. the faster the company's move, the more benefit they get. it is more expensive in a time where earnings are suppressed, so it is damaging in the short-term. it is for long-term gain. francine: is it that consumer goods that will feel the most pain? gina: money has been moving out of china for years. i think it is mostly technology. techfic companies, specific to semiconductors

the problem with that picture is that bob iger says it's going to be a reboot for a new age. >> ah. >py kid" launching i can't wait for that. in november. >> they're working hard. they're working hard. [ applause ] >>> all right, now we have a "pop news" exclusive. "fixer upper" star joanna gaines opening up in "magnolia" journal magazine. i know you have seen this. she talks about being wholly balanced. she said she strives for wholeness. she's not trying to be perfect. her work life and her family life, she puts them together and goes on to explain that work is more inspired when her kids are actually a part of it and you can read more from the gaines from the fall issue of "the magnolia journal." if you have someone slow in front of you, you just read it while you're in line and then put it back. >> i never thought of that, sam. brilliant. [ applause ] >>nay idki thee t next i mean extra butter and extra syrup. no, that's not what you think. they like waffle house. and elizabeth and hays got married and vowed to honor each other and their favorite breakfast spot and had a special c

bob iger talked about what this streaming service was going to look like. bundle or could bundle it for 12.99. you get that not only disney app, but get espn plus. you would get hulu also. this is a direct competitor to netflix, when it comes out and it is in the marketplace there. and what's interesting is, it is not just original titles, whatever disney has to offer, but streams news and streaming sports is something netflix cannot complete with now. as you know they had a very rough quarter and they lost subscribers. seems like the competition is only going to get worse here. still the stock getting slammed today. some analysts are saying there may be a buying opportunity here that is understandable why disney had some problems this quarter, but doesn't mean you know, that there is necessarily a crisis here. but you can see disney trading at 133, neil. neil: all right, thank you very, very much on all of that, jackie. take your attention back to the corner of wall and broad, anyone, any entity vulnerable to the trade situation taking it on the chin. 3m,

it was four years ago that ceo bob iger warned that espn is facing big cord cutting challenges the stock% after that warning before rallying over 50% and now the stock is trading closer to an all-time high guys, though, it was down over 2% today back over to you >> julia, thank you. talk about one of the of the dow this year. top three is disney. >> and down 2.4% today is also outperforming. yeah it's obviously not where the real damage was done today >> what are you going to watch tomorrow >> i think everybody becomes a little best a tactician when it comes to these things sow want to see if there's going to be any kind of a purge. first of all, we're all watching the currency fixing tonight to see if this is going to be an ongoing theme or if it was a one and done a little bit of a salvo by the chinese authorities >> call me crazy but i'm going to watch twitter tonight and tomorrow >> and that's part of the story too. >> for the president >> sure. down 6% in six days in the s&p 500. if all this market needed was a shakeout we got it >> that does it for us on "the closing bell." >> "fas