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. >>> when we return, jim stewart is with us why he thinks disney still hasn't solved the cord cuttingeven with its new streaming platform >>> and later, aphria cannabis stock getting crushed today as the company reported weaker than expected results chairman and interim ceo irwin simon will join us later this hour more "squawk on the street" when we come right back >>> good morning, everybody. i'm sue herera here is your cnbc news update at this hour. secretary of state mike pompeo in columbia on sunday on the final leg of his four nation south american tour which is aimed at pressuring venezuelan leader nicolas maduro. pompeo and the coluombian president visiting a bridge. >> should reject the rule imposed on the venezuelan people including the venezuelan military leadership. the united states will continue to utilize every economic and political means at our disposal to help the venezuelan people. >>> german prosecutors indicted former volkswack kswagen ceo ond and unfair competition >>> can he do it again that's what people are asking after tiger woods completed one of the biggest

"the new york times" columnist jim stewart will join us to discuss. >>> and let the road show begin! you doing? >> what you can expect when uber goes public as the second hour of "squawk box" begins right now. ♪ it's friday i'm in love ♪ monday you can fall apart >> announcer: live from the beating heart of business, new york, this is "squawk box. ♪ thursday doesn't even start, it's friday i'm in love ♪ >>> welcome, greco greco! >> isn't there someone above him that can rein him in >> way to go. >> first they do the video, then -- >> they followed it up by the music that you hate. it's a good friday already. >> rein this guy in. he's disturbing the talent >> you. >> yeah. i love pointing at the talent. that's from "groundhog day," too. you can call yourself -- >> okay, hairdo. >> yeah, hairdo. good morning and welcome back don't drive angry. welcome back to "squawk box" on cnbc i'm joe kernen along with becky quick. in studio with us is cnbc "fast money" trader guy adami -- >> yes, i am, joe. >> other shows he's allowed to call in, and they have him -- they just have a picture of him

when we come back, jim stewart is with us, talk about the company's outlook and the wave of tech iposmer treasury secretary larry summers on the big rate debate as the president continues to suggest the fed cut. "squawk on the street" will continue in a me wh e montitth dow up 190 ♪ feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow. >>> shares of lyft moving sharply lower after making their nasdaq debut on friday shares closed up more than 8% after pricing at 72. the stock now trading below that level as you can see, 7135 off the lows of the session. for more on the ipo market and what performance means for the likes of pinterest and uber and others, joining us at post nine is jim stewart good morning >> good to see you. >> how interesting is this to you? >> i find it very interesting. until today's trading i was going to say the lyft ipo was close to perfe

joining us to dig into these results, jim stewart, columnist at "the new york times." is a senior analyst at rosenblat securities has a buy rating on the stock. mark, we'll start with you on some top line thoughts of what investors should take away from this report. >> it's a great number so revenues came in in line, but the big number was u.s. advertising was very strong. roughly 20% above what we were expecting. so very strong trends for a second quarter straight now in the u.s. this is the seasonally weak q1 quarter. impressive number there. just looking at a couple other things that stood out. total expense growth if you exclude the ftc legal charge came in well below management guidance for the year of 40% to 50% range. so that came in at roughly if you exclude that, came in at roughly 34%. that was -- that compares to our expectations of 44%. consensus above that looking at roughly 47% growth year over year so that's what showed a really nice up margin beat. we saw roughly 42% up margin on that -- on that up side. all in all, a good number. i was just looking at t

that's a big challenge that's the 20th century fox thing. >> thank you, jim stewart. >> sure. >>> whenshing a new way to tax the wealthy and it's through golf courses robert frank has that story coming up in just a few minutes. >>> also in the next half hour, vice president mike pence on the record his thoughts on the president's handling of trade negotiation, the fed and the nation's economy. stay tuned you are watching "squawk b" ghhe ocnbcox an index, but which ones target your goals? it's not about quantity. it's about quality. no trendy stuff. i want etfs backed by research. is it built for the long-term? my reputation depends on it. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. ifor another 150 years. the fire going ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with

jim stewart, "new york times" columnist, kept saying this is a story-driven stock, it's all about theort of revolutionary product and the new industry that this is creating i mean, that sounds like a strategy >> anytime you have a consumer facing company, the b to c company, it's so much volatility and so much hype around, it you're going to see this action, price action a lot of it. so like he said, this is a long-term story. it's not one-month story, not a two-month story. you really have to wait it out at least till the first quarter. let's see how the first quarter comes out. let's see the trends are they holding on to the trends it's too early to just kind of say this is over today's price action is not a reflection of the company. >> to that point about the first quarter because i do think an emerging growth company when it goes public, investors have to get used to exactly what they're going to be judged by. so what are the metrics that you're going to be keying off of when they first report for example, twitter first said value was on user growth and then no, maybe not what ar

on original content for the platform for more on disney, the impact on netflix and its rivals, jim stewartnbc contributor and tom rogers, executive chairman of win view, the first president of nbc cable and cnbc founder and a contributor, and our own julia boorstin want to get everybody's reaction i thought it was pretty impressive, i have to say. and at that price point, i thought, everybody's going to get this what do you think, jim >> it's interesting to me that this is an entertainment company moving into the technology platform we've had technology moving into entertainment. and i think what disney really showed, they know entertainment. they know how to put on a show they did a fabulous job. and i think they really made it clear that they've got a dazzling array of content to offer consumers. >> and they really have the brands that are going to stand out. and if you're trying to convince consumers to sign on when you have marvel and you have "star wars" and you have pixar, that's really competitive, and that really gives them an opportunity to actually go head to head with netflix. a

settlement agreement with regulators joining us to talk about that, "new york times" columnist jim stewa stewartrvard professor bill george. let's do court before deliveries because do we think he's going to show? would you expect him to show personally >> well, i don't know how he can make this argument with a straight face. if i was the judge in this case, i would be lowering the boom on him which by the way would be doing both him and tesla shareholders a favor he only has to do one thing which is clear his tweets with an in-house lawyer that's not so burdensome t did he do that in this case, no. they've been arguing he isn't tweeting as much or he's trying to comply. that doesn't wash. >> a for effort doesn't work in federal court? >> by the way, this was an inaccurate tweet that he put out. he's been making some claim about it's curbing my freedom of speech that is preposterous the judge should not even listen to that. first of all, you don't have the right to issue misleading statements, false, misleading statements to investors. secondly, the reason his speech is impaired is because he si

jim acosta at the white house. joining us now, chris stewart of utah. a key member of both the appropriations and the intelligence committees. congressman, thanks so much for joining us. >> good evening, wolf. >> let's begin with the breaking news. you heard it, the attorney general, bill barr, telling lawmakers today, he plans to give congress what he described as a redacted version of the mueller report. you told me earlier this year, you didn't want to see a single sentence redacted. are you disappointed in what you heard from the attorney general today? >> well, i'm disappointed in this sense, and that is the reason i didn't want to see any redactions is because i knew that some conspiracy theorists and others who were grasping at straws to frankly still cast a shadow over the president, conspiracy and obstruction, that they would point to any redactions and say, see, the evidence is hidden in there, and we've certainly seen that over the last few weeks. it was deep in your reporting here of people implying that. but the reality is, wolf, is legally

martha stewart was not convicted of insider trading, for instance. >> right. this was former u.s. attorney jim comb who was giving that perspective himself as a former assistance u.s. attorney and a u.s. attorney having prosecuted many cases, including that one and talking about a different legal interpretation than the one that the attorney general and the president's lawyers i think are putting forth which is that there needs to be some underlying crime by the individual who is being accused of obstruction. i do think -- i know everybody is using this phrase that the -- that the special counsel is punting to the attorney general. i think we're doing that because the attorney general wrote this four-page letter that made the decision himself and gave his own interpretation, but until we see that underlying report from the special counsel we don't actually -- at least from my perspective, we don't know how the special counsel teed up the issue of obstruction as to whether or not he actually did deliver the report to the attorney general and said this is for you to decide or whether he simply l