vm vmware and illumina, 10% of illumina's global turnover and the maximum allowed under eu merger rules, quote, unquote, unlawful aconlyg at the shares, frtial higher. that's going to do it for us "squawk box" coming up next. sleepovers just aren't what they used to be. a house full of screens? basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80? back in my day, it was scary stories and flashlights. we don't get scared. oh, really? mom can see your search history. that's what i thought. introducing the next generation 10g network. only from xfinity. >>> good morning we're all getting ready including markets for a key data inflation read and another round. futures so far building on monday's and tuesday's gains >>> closer to the finish line, a federal judge, a biden appointee, ruling in favor of the microsoft/activision merger, looking to pave the way for a closure later this month. >>> and disney may be looking at strategic options by looking at a deal in india. it's wednesday, july 12th, 2023, and "squawk box" begins right now. ♪ >>> good morni

the european union is slapping a $475 million fine on illumina by buying real before getting approvalhe biotech company announces $7.1 billion acquisition of grail in 2020 but that you said the company broke its merger rules by completing the deal without his consent. in the united states ftc ordered illumina to sell grail after finding it would stifle competition and innovation in the u.s. market, the san diego-based company plans to appeal that fine, shares of illumina 3.6% to the upside higher. let's take a look at lucid this is lower after announcing second quarter delivery numbers that missed analyst expectation. the ev maker stock has dropped over 60% in the last 12 months as investors are worried about demand for the air luxury sedan, lucid cut 18% of the workforce in an effort to reduce cost. the lucid group stock down almost 11%, kim kardashian talks to buy back minority stake that she sold the cody, this is reporting to the wall street journal this morning known as kk w holdings was valued at $1 billion when cody acquired a 20% stake 30 years ago the company known as skin by

it's called love above and it's illuminaing with red, white, and blue lasers. this is the first time it will be lit up after the 4th of july and will do so tomorrow night. the group illuminating the arts is behind this. this is the same group that is now doing the bainbridge lights display and rain blow v bow laser flag on market street during pride month, and of course the one potential thing that could get in the way of this, we all know it by name, carl the fog. hopefully he takes a back seat tonight. >> hopefully. we want to at least be able to see some of the lights out there, right? so we are going to have still some fog rolling by at times, and that may affect some of the visibility. that's what's also keeping us cooler around the bay area. as we get a look at what to expect, we are going to continue to see some sunshine in our forecast, and it's really neuse and sunny for north bay. so we are going to continue to see some great weather for the weekend as we are also going to be warming up heading into next week. we'll be talking more about that. we get

. >>> illumina is set to face a record eu fine for its takeover of grail before it secured approval fromegulators there the report adds it could be 10%. >>> coming up, what to watch -- accordingly it's coming, the cpi. >> you keep saying that. >> can i count on it >> yes it's coming. do you want too bet on it? >> no. we're joined with why the fed will raise rate this month regardless or if you're going to sayre regardless, you should say disirregardless, right >> you should never say it peer yiep sayre regardless and then you're back to regardless then we're going to talk to roger ferguson for his reaction. you're watching "squawk box" of cnbc where's the unnecessary zippers? that thing! billy, rock star is just how doug feels when he uses workday. thanks, rory. i'll show you rock star! be a finance and hr rock star. workday. for a changing world. billy idol just stole your golf cart! ♪ "the pursuit of gold" by alex ball ♪ ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) the l'or barista coffee and espresso system. a masterpiece in taste. bridgett is here. the l'or barista coffee she has no clu

surprise to me that these metals aren't available on their own in nature they are a byproduct of illumina zinc's of the mainstream refineries, in terms of the trade relationship. the wall street journal is reporting that the u.s. is seeking to restrict china's access to cloud computing what do we know? >> absolutely, there were whispers of this towards the end of last week but not a lot of detail. that was partly why we saw that pain by nvidia, some of the other u.s. chipmakers. we now know according to the journal is reporting that the u.s. is considering limiting access of cloud computing services to chinese firms that will include potentially the services provided by amazon and microsoft. it is interesting, there is a similar risk for the u.s. here that when you introduce these types of broad restrictions that actually it incentivizes the target nation or companies that innovate and find ways to get around these types of restrictions. there does seem to be an attempt or focus on some of china's dual use technologies. it does not seem to specifically outline military or defense industri

up more than 5.5%, almost 5.5%, according to reuters that you is planning to slap science company illuminar in that report crossing on aluminum. wd-40 is charging, take a look at the stock on your screen this is the stock we've been watching throughout the session it is uppermost 19% this is almost one and a half year high for the stock today. at least today will see how it closes. the consumer products maker blue the streets expectation on top and bottom lines in third-quarter report, wd-40 sales grew 15% year-over-year but ford exchange currency headwinds continue to impact growth, what does the second half of the year look like for the maintenance supply producer, joining me on the fox business exclusive the wds 40 president, congratulations on the quarter. >> thank you cheryl it's great to be with you. >> double digit sales growth, what was the biggest driver of this? >> we do what we've been doing for decades, we continue to build our distribution around the world and we have a huge growth opportunity for wd-40 around the world and we build our distribution input samples in the hands

help the american people >> and it's not just this deal i mean, there's deals involving meta and illuminahat some argue the courts just aren't ready for this kind of expansionist view. >> there is an antitrust doctrine about what is wrong and what's right and typically, it hinges on whether the consumer -- at&t, t-mobile, sprint, whether -- whether the consumer gets hurt we're going back to the logic, does the consumer get hurt as opposed to, do richer people get rich that's never the doctrine of the united states ever so, khan has been proven to be an outlier, and i think that's something that makes it so that you don't want to make the agency a joke. you don't want to reduce the agency to where it starts having really good people leave and you can't just make up law, because you're an agency you're a commission. >> you're saying the agency will read the room, in other words? >> the people who work at the -- the professionals, i don't think, will tolerate any more of this abuse of her power. i just think that they'll say, you know what? we have a doctrine we have a way that we handle ant

scott gottlieb the cnbc contributor who serves on the boards of pfizer and illumina. different?ity in this space i think the attractive feature for lily is this could be used in combination with the glip 1 drug, like ozempic that people are using for weight loss. this drug works by binding to a completely different receptor. it was initially developed by novartis, in certain muscle wasting diseases what they noticed is it helped build back muscle but also helped promote weight loss the concern right now is that patients lose weight when they're taking those drugs, they lose fat but they also lose lean mu muscle the belief is if you could use this drug in combination with glip 1 drugs you also could potentuate weight loss without having the side effects of muscle loss along with that. it's being test insteaed in a p study. >> but then you could dial back how much of the ozempic or one of the other drugs you're using, and that would be good news because we don't know all of the potential side effects of those drugs yet? >> yeah, that's right. look, these trugs are being used in ve