>> melissa, we are listening to jim farley, he's talking about the quarter and where he believes ford is going, saying, this is a much different company than three years ago. that doesn't matter right now, because the stock is getting hammered as the company once again shows it has problems when it cop comes to warranty costs. they missed on the bottom line. 47 cents a share. the street was expecting 68 kren cents a share. revenue coming in at $44.8 billion. commercial vehicles -- this is the key to ford having profits right now. they continue to kill it when it comes to commercial. $2.56 billion in profit. $1.17 billion in the internal combustion engine business. and evs, a loss of $1.14 billion. after the first quarter, they said, they're losing $130,000 a quarter. it's now just a loss of under $44,000 per ev sold in the second quarter. now, let's talk about the guidance. in the -- ford is cutting its 2024 profit forecast for the internal combustion engine business by a billion dollars because of the growing cost of warranties. they said on a call earlier that it was because of vehi

jack: were still waiting from the robo taxi the really bad news jim farley ford said it was getting controlf the quality issues but $800 million spike in warranty cost. >> they had an absolute disaster of earnings, it was interesting because we did not get a signal ahead of time, it took investors a little bit by surprise, use all that and as of yesterday they were in bear markets were under territory, thursday was a disaster and i'm not sure they get to be able to recover quickly, this raises long-term concerns. >> a great american company but hard times. you pulled off something that very few business journalist can do the cover story about the financial engineering goldberg contraption that is john malone's liberty media empire, tell us about it. >> john malone has been investing in media and cable for 50 years and he controls in a surprisingly large number of companies, some are thriving like formula one and having the charter communication and the satellite radio company, there is investment opportunity with the malone empire and starters he is 83, you can see the sale of the company's

jim farley talked about those concerns on the call last night. >> as painful as it is, quarter afteruarter, to have all these great launches, we do not release them until we're happy with the quality and that we've done all the testing. and it makes our quarters lumpy, and it's challenging, but it will reduce warranty over time. >> what's weird is the ebit guide was fine and they raised the cash flow guide. >> well, they thought it was a good quarter. which, frankly, is delusional. the warranties are so bad. and it came back. the pledge not to have the warranties come back and then -- warranty issues come back and then, boom, they're back is, to me, insulting. it's insulting to people who have hung on to the stock. >> stellantis is going to open down eight. they're not alone. >> when you go over what adam jonas said, why aren't you doing a buyback, they said, we have better things to do, after gm stocks has moved up. this is the bottom five in the s&p. i thought adam jonas was a teller of truth on this call. >> he hasn't covered himself in glory in this name. >> neither have i. >> st

ford's run is about jim farley saying, if we're not making money on something, we're not making it.from ford, not sales, but margins, earnings. i think ford is going to give you great numbers. >> i think we're going for five straight on ford at least. >> jim farley, this is his quarter. i think they ought to do two things. i think they should sell even fewer evs and buy a lot of stock back. look at gm, mary barra, when she announced that buyback -- barra is great. all we ever do is talk about musk. >> as we should. enormous market share of the business. >> true. barra is not a ratings magnet, nor is barra. musk has a very funny -- he has good memes. he's good at the meme business. >> very talented in social media. he literally owns social media. >> literally and figuratively. >> morgan stanley, adam jonas has a note about climate. we're going to hit near 100 degrees in new york city. he thinks episodes like that will draw more attention to renewables and evs. >> i appreciate the fact that jonas, not unlike charles dickens, feels the need to right every day. >> match. >> that was one