julia boorstin has more on the company's quarter and spoke to bob iger. >> the big head is making a big move into digital and taking its brand to consumer. it used to own 33%, but now, it's paying 1.58 to require an additional 2% stake in the company. with this, disney is announcing that espn will announce a new service to debut in 2018. the new service that will be accessible through the espn app feature about 10,000 live games every year including major league baseball. national hockey league, major league soccer and grand slam tennis among others. diz also announcing they will launch a new streaming service to launch in 2019. this will feature disney's films, which is going b to be pulling over from netflix when that deal expires in 2019 as well as original continue tent d origin movies. we talk ed to bob iger. zwl this play it is the groundwork for the company to do a number of things. provides uz with option att it and y we haven't had b to do it, you need a really strong technology engine and the talent that has the experience to manage customers in a comp different way than we've

julia boorstin has the details. >> reporter: the discovery channel, animal planet and tlc are teaming up with the food network, hgtv and the diy network as discovery communications is buying scripps networks interactive paying 70% cash and 30% stock for a deal valued at $14.6 billion including debt. the two companies are similar and that both of their channels have a truly dedicated fan base. >> it's not about getting the biggest audience, it's about getting an audience that you can nourish that really loves you, and nobody's done that better than scripps with home and garden and food and you put that together with us, we have 20% of the viewership in the u.s. and we have a huge amount of women that we can take to the market. more importantly, we have most of the quality brands on cable. >> reporter: the combined company have five of the top cable networks for women. giving it more leverage when it comes to negotiating fees from cable and satellite tv companies. and discovery pushes for its channels to be included in new skinny bundles. this merger comes as tv ratings and ad revenue d

portio their holdings this after recent quarterly results fell short of analyst expectations julia boorstinas more. >> reporter: snap shares hit a new all time low monday morning before rebounding ending the day up 6.5%. the move that market watchers attribute in part to short covering it picked up and short interest is at a three-month low according to ihs this despite news that dan loeb dissolved its shares in snap the lockup expires monday on a 782 million shares held by employees, nearly four times the number of shares in snap's ipo about three quarters of those are owned by directors, executive officers and other affiliates the s.e.c. limits how many they can sell in any quarter. no individual can sell more than 1% of outstanding shares of the class of stock that they're selling. co-founder evan spiegel and bob murphy announced they will not sell any of their 211 million shares each this year. that does leave 182 million shares held by other employees jpmorgan saying that should "help alleviate near-term concerns around the lockup." facebook and twitter both hit their bottoms the day a

for "nightly business report", i'm julia boorstin in los angeles. 21st century fox's cable division rose doun quarter and that off set a cline in revenue. the company which is control le y m 1%. profit edged past estimates, so shares were pretty volatile in after hours trading. >>> still ahead, the high-tech push t. >> how do you feel? >> got it. thanks for taking your assessment. >> coming up, i'll show you how a boston s using voice >>> the fox con plant in wisconsin is not yet a done deal. the electronics manufacturer has pledged to invest $10 billion to build a factory in that state, potentially creating thousands of jobs, but the 3 billion in incentives promised by the governor must be approved by the wi republin lead ner the state is that the said it doesn't look like he has the approve the > fbi agents conducted a raid on the home of president t former campaign manager. authorities executed a search warrant on his home in late july shortly after he registered as a foreign agent. the raid stem frs the ongoing invests meddling in the 2016 presidential election and possible collusion

nice dress julia boorstin we're matching, melissa. >> all right thanks, julia. guy, i'm sure you know shonda rhimes' body of work. >> yeah, i listened tsh. >> "grey's anatomy." >> i love "grey's anatomy. >> "scandal. >> "how to get away with murd . murder." >> is that a different show? they sound intertwined. >> barron's says the stock will be cut in half by the end of the decade is that correct? one reason they attributed it to, their relationship or lack thereof of disney. netflix doesn't spend $7 l billi billion on content, $200 million was advertise disney i remember pete sitting over there nodding his head in afwreem agreeme agreement. remains to be seen if barron's is going to be right i think netflix goes higher. >> i was shocked it didn't go lower on the barron's thing. to me, if i were netflix, i'd think about doing some debt deal right about now. >> now. >> today i mean, you know, just as we saw tesla do it, i think they should do something right now the market would really receive it well they need the money. the spend part is -- it's a lot of money i

julia boorstin has more. >> apple has set a budget of about $1 billion to produce and license original content over the next year, according to "wall street journal." expected to include those shows in a new video-focused offering that would launch in addition to apple's $10 a month subscription app. the billion dollar number is significant, but in the grand scheme of apple, it's pretty modest. apple has $225 billion in revenue. they will spent about $12 billion in r&d, and this is a relatively small number for apple, given its huge size. >> so far apple's investment in original content has been limited, and tied to apple's core focus on music and apps, such as carpool karaoke and planet of the apps. that makes this push into content like "game of thrones" is a big departure. apple declined to comments, but it's hired some veterans to run the video efforts, also tapping the former head of wgn and tribune studios to head its area for development. >> if it -- that's still just about half of what time warner's hbo spends annually. now amazon reportedly spends about 4.5 billion, and netfli

for "nightly business report", i'm julia boorstin in venice, california. >> and snap's user growth fails to impress. thatbe tonight's marketfocus. the social media company best known for its disappearing message a p pp didn' the latestr as hoped for. earnings in revenue also came up short. shares were volatile after hour, but ended regular day up to 13.77. b nbc universal has an investment in snap. they are the parent company of cnbc, which produces this prog >>> in its first earnings report as a public company, blue apron reported stronger than expected revenue, but a wider loss. while it was disappointing, what drove the stock lower was their weak outlook. the meal kit delivery company said unexpected cost related to a new facility woul cause losses to grow and the shares plunged more than 17%. live nation said an increase in concert ticket sales helped revenue rise above expectations and profit was also ahead of street target. those results sent shares higher. >>> the generic drug maker pair doe lifted its full year earnings outlook after reporting results that topped estimates. they

i'm julia boorstin in los angeles. >> we both have teen and preteen if it weren't for taking them to a movie they want to see, i wouldn't, there's not much i want to see. >> i know, that's really true. >> i'd rather stay home and watch something off of on demand or netflix. >> i think that's very true and even my kids are not finding as much at the box office as they have previously. >> and so much of the movies these days are the extensions of existing francg to do? that's "nightly business report." thanks for joining us. >> thanks for watching and we'll see you back here tomorrow this is a bbc america. funding of this presentation is made possible by. the freemen foundation. and coal fuller foundation pursuing solutions for america's neglected me. planning a vacation escape that's relaxing inviting. and exciting. is a lot easier than you think. you can find it here in aruba. families couples and friends can all find their escape on the island

much more on what's moving these markets we're also about to get more major earnings reports julia boorstine us results from snap and courtney reagan from in order drom and leslie picker on nvidia thank you, guys. we'll see new had a emt movement joining us us on the panel we have michael santoli and dan morgan is here, senior portfolio manager and vice president of snowist trust company and the chief executive officer of matrix asset advisers joins us as well. big declines i said the biggest declines and percentage returns for the major averages since may, and the major thing to me is we didn't have buying on the close at all. we had people selling. people ready to buy the dips but not like there's many dips to pie here. >> the extraordinary thing about this market is not that we're down 1.5% or so in the broad market it's that we haven't had more of that these days. hovering in the market for three weeks with the late-day rallies, with the sector rotation holding it up. there's a chance it a today is perhaps a mark of a changing complexion of this market. you're also seeing it with the vo

julia boorstin is live in l.a. with more. julia? >> amc entertainment plummeted after a swing to a big loss which dragged down regal shares as well. the largest theater chain said it expects to lose about $1.35 a share in the second quarter. wall street analysts expected only a 2% loss projected q2 revenue is short of expectations and the company warned that the next quarter will be a very challenging third quarter. this comes as amc which owns legendary entertainment which is being examined by chinese regulators amc saying last month that wanda has never been the source of acquisition funding for amc. the chairman of wanda which brought amc the prior year explained that in light of the concerns >> translator: we do not expect large investment return in this region however, our investment or acquisition of amc is more like a strategic acquisition of amc the european market, the australian and east asia markets for acquisition of cinema lines. >> he mentioned looking for opportunities in those european markets and amc's focus on euro

julia boorstin has the latest. julia? >> reporter: well, signing shonda rhimes will bring their new shows to netflix while their hits will continue to air on abc. this is just the latest in a slew of big names netflix has signed, including david letterman and the cohn brothers. after last week, disney announced it's pulling films for netflix to create its own streaming service. that pushed netflix shares down 5% last week now, rick moran says that the network will continue to benefit from shondaland. it will be an important part of abc studios and we wish them all the best in this new endeavor. there's a concern of lack of ownership over the hits, including "house of cards" is critical of a cover story calling netflix a hit renter, not a hit owner, warning that the stock could fall by more than half by 2020. netflix offers creative freedom. no limits of a broadcast schedule or episode orders we'll have to see how that and netflix's deep pockets draws even bigger tv names. >> julia, thank you. for more on what this means,

. >>> will disney's theme parks help the company over come lets bring in your julia boorstin who's at our hq brian, lets kickoff here, what are you looking to hear from disney >> anything that lays concerns of slow growth of the cable network decisions pairing with any erosions when i look at the evaluations the company compares to fox. i see stocks that are valued >> still over valued >> despite the fact that it has no t move much >> on a relative basis take fox, i estimate its value of 40% of what disney is strategic positioning and their long-term revenue growth trajectory won't be different. on a relative bases, i think the bigger thing that investors are going to be focused on, are we seeing erosions as suggested of 3% year over year, i am sure there are pricing power on their core cable networks. advertising is not very strong right now and that's going to hold them back >> it is a pretty negative story overall. >> julie, i expect a lot of the conversations that you are going to have this afternoon it is going to be frustrating, right? he's got good news when it comes to the mov

julia boorstin has a look. julia?: weak summer box office and the rise of netflix and at-home entertainment options. the company unveiling a cost reduction plan including strategic pricing and reduction in operating hours in the second quarter, the company expects to lose about $1.35 a share. q2 revenue of $1.2 billion, also short of expectations. it does not look like q3 will be any better the company forecasting a very challenging third quarter. amc blames a lackluster box office as well as a charge on its investment marketing company national center media. amc pain, down 8% in the u.s. so far this summer as a result of critical failures and rise of at-home alternatives like netflix. its shares, on the other hand, are up 92% as the company adds more subscribers than expected we'll hear more from amc, including the plan to battle the rise of streaming and official second-quarter earnings results when the conference call is held on monday. guys, back over to you. >> julia, thank you for that "squawk alley" continues a

julia boorstin, give them to us.o they look >> bill, before we get to the earnings i want to get to some big announcements out of disney out of the future of the streaming business, the company announcing just now it's going to acquire majority ownership of bam tech to acquire an additional 42% stake in bamtech giving disney 45% ownership of bamtech which is a streaming technology company with this announcement they are announcing a new espn multi-sport streaming service which will debut in early 2018 this is the direct-to-consumer sport service that we have heard bob iger talk about in the past. now they are announcing that there will be so,000 live sporting games a year, including major league baseball, the nhl, major league soccer, tennis and college sports this will be accessible through their current app and big news to have the details of this app and disney's direct to consumer strategy disney also announcing it will launch a new disney-branded direct-to-consumer streaming service to launch in 2019. what's hap

fears that the social media company could be succumbing to competition from the likes of facebook julia boorstin has more. >> reporter: snap adding 7.3 million daily active users in the quarter to 173 million total, but 2 million less than analysts projected the company reporting an adjusted loss of 6 cents per share, bigger than the 14 cent per sharealysts had been expecting. reven average revenue per user that came in at $1.05 that is 2 cents less than analysts expect the. snap's ceo looking to reassure investors with a big lock up expiration coming on monday saying he and his co-founder will hold on to their shares >> given the amount of speculation around the lockup speculation, it's important to note bobby and i won't sell any of our shares this year. the company will hold shares to satisfy obligations. >> spiegel and the chief strategy officer stressing that current advertisers are spending more and that they're drawing more advertisers to their new easy to use self serve ad platform saying users are spending more time engaging with the platform, but even that positive commentary does not

and now to a developing story, amc slamming netflix's movie pass julia boorstin has the details >> it $10 a month but now the nation's largest movie theater chain amc saying in a statement to cnbc that movie pass is not welcome here quote, the reselling of movie tickets is not in the best interests of movie goers, movie theaters and movie studios accordingly amc is consulting with its attorneys to determine if or how amc can prevent a subscription program being used at amc theaters in the u.s movie pass announced that it sold it's majority stake giving consumers access to 30 movies a month for the price of a single ticket sounds unprofitable move have i pass pays theaters the full price but they say it could be profitable with one million subscribers by generating revenue from advertisers and securing discounted tickets from theaters amc criticized the model's unsustainable saying it the not known how to turn lead into gold over to you. >> julia, thanks let's trade it is there any stock move to make based on this? >> amc made a 52 week low. closed down 2.5% i don't see any compelling

out fast and furious this hour, and our reporters are standing by to break it all down for us julia boorstins and act vision blizzard, josh lipton is covering gopro and leslie picker has weight watchers and jackie deangelis on shake shack and landon dowdy is covering etsy. thanks, everybody. we'll see you in just a movement joining me on panel is cnbc senior markets commentator michael santoli and stephanie link and kim forrest who is portfolio manager at ford pit capitol group. mike, i like the discussion we were just setting up which is the overall market moves aren't huge but the individual stock moves are. >> without a doubt, maybe the 12th or 13th day in a row that the s&p has closed in the 24770s a very tight band. didn't move a whole lot today, but below the surface you're seeing a lot of give and take. talked about that sort of reflex to perhaps sell on the news when you get even decent earnings report yet on the whole you have enough supporting the market here that it looks okay. the average stock is underperforming the index for the last, i don't know, ten days or a month so maybe

. >> well, let's see what they are saying because their earnings are just out and julia boorstin hashow do they look >> hey, they have beat on both the top and bottom line. cbs earnings beating estimates coming in at $1.04 adjustments per share versus estimates of 98 cents a share. revenues 3.26 billion versus 3.09 billion estimated some interesting commentary in this release here from the ceo les moonves saying they are seeing the benefit of their recent skinny bundle deals with google's youtube tv and hulu and part of directv as well. they are also announcing that cbs all access and showtime ott, consumer direct services continue to grow beyond their expectations and are on track to surpass 4 million subscribers by the end of 20617 they are also announcing they will be expanding all access into the international marketplace starting with canada in the first half of 2018. of course, this is a way for cbs to reduce its reliance on the traditional pay tv providers as well as on the advertising business as they diversify we'll hear much more on the call shares up about half a percent g

. ♪ ♪ >>> julia boorstin is here to bring us the latest on disney. >> reporter: disney buying majorityntix to launch a new espn service next year, which will include so,000 live sporting events that are not traditionally espn. >> this move capitalizes on a few trends that we have seen on the sports side, first of all, live sports continue to be very, very popular 94 out of the top 100 tv shows in 2006, the united states were suppo sporting events, for instance. then espn is still a strong brand. we have seen a fairly significant increase in media-based consumption on services that are over the top or direct to consumer services so we felt that it was time for us to take a bigger step in that direction. >> disney's stock is sinking on revenue that missed wall street's expectations. netflix shares are suffering on disney pulling its film from the streaming service starting in 2019 as disney launches the own disney brand and content app that here. aikers says they are evaluating the possibility of launching star wars apps and prepared to potentially break espn free from the bundle >> this

. >>> welcome back to the half julia boorstin has the market flash for us >> we're seeing the movie theaterheir stocks moved lower after the announcement that movie pass, the fee has been lowered to $10 a month. movie pass is like a monthly subscription service for movie theater chains that if you pay a monthly fee, you can get tickets to access theaters including at amc entertainment, regan, and cinemark now you see those stocks move lowered. and this has now been lowered to $9.95 monthly fee. the previous pricing plan had been from $15 to have nearly $50 a month. so now making it much less expensive to have this subscription access to movie theaters this comes to a summer where the box office is down the total u.s. box office this summer is down over 12%. the movie theater chains have already been suffering >> julia, thank you so much. throw up shares of netflix, which seems to be moving a bit on this news, as well. do we have netflix in the back i don't know if you're invested into movie theater chains or not. >> nope. >> not a massive move, obviously, but maybe feeling a little bit of t

i'm julia boorstin it was another bad weekend at the u.s. office, dragging the summer numbers down nearly 11% from the same period last year while the year-to-date box office is now down nearly 3% and the theater stocks are suffering. cinemark shares down about 3% down today regal entertainment shares down nearly 2%, although the stock had been down more earlier today. back over to scott wapner and the "halftime report". >> julia, thank you so much. >>> we'll have much more with egl oma's e cooperman straight ahead. "halftime report" back in just two minutes. >>> back oon it will "halftime report" with leon cooperman. the financial sector hitting its best high in adecade are good times still ahead, do you think, for bank stocks >> i would expect the bank stocks to be higher 12 to 18 months from now. i actually am not represented directly in banks. we have been in other financials, i mentioned first data, which was finance technology, we can call it what you want air cap in the leasing business, f&f group. >> we're lacking for better entry in

julia boorstin with more. >> les moonves said show time got a boost from "twin peaks" and bullish on the rush of "star trek" to drive subscriber, cbs all-access, direct to consumer service. it was talk after streaming services that had dominated moonves' comments including the announcement of a new direct to consumer sports service in the works. >> later this year, we'll roll out a 24/7 live streaming channel like cbsn for sports as part of our ongoing ott strategy it does not yet have a name. we think sports fans are looking for something like this and that opportunity is significant >> reporter: moonves also announced that cbs all access will expand internationally starting with canada in 2018 saying they're very aware of the success that other streaming services have had internationally referencing netflix. he also announced their pa ed pd of expectations for cbs all access and show time ott, on track to have more than 4 million subscribers by year end. >> distribution, we're leveraging the strength of our content to be a leading player in the new skinny bundles and the traditiona

now facing its biggest lockup expiration yet julia boorstin joins us now with more good morning, julia the lockup expires on an estimated 718 million shares held by employees. that's nearly four times the number of shares that hit the market in snap's ipo so how many shares could actually sell today? well, about three quarters of those shares unlocking are owned by directors, executive officers and other affiliates the ftc limits how many they can sell no individual can sell more than 1% without getting shares of the proxy stock they're selling. cofounders evan spiegel and bobby murphy each own 211 million shares and announced they would not sell any shares this year. jpmorgan saying that should quote help alleviate the near-term concerns around the lockup but that still leaves 182 million shares held by other employees according to jpmorgan. friday, one of the stocks risks is continued pressure on the stock from the tail end of the substantial lockup expiration. today's stock move could give a hint in how employees feel about the company's prospects, and it's worth noting that this st

. >>> julia boorstin. >> reporter: cbs and disney and and media stocks struggle.n be a rough earning season for media stocks we have seen weak fundamentals for media owners now, ahead of its earnings tonight, piper jeffery says cbs is well positioned and could get a boost as well as the return of the nfl and the launch of "star trek" on its all access direct consumer app unlike cbs reported disney and fox over the next couple of days have exposure to the suffering u.s. summer box office which is down from 11% with disney's sequels both under performing prior film in their franchises we'll have to see if there is any talk on the hills of discovery purchase guys, back over to you. >> don't move. andy, it is good to have you here this could be one of the first quarters of many that cbs misses because some of the concerns that julia laid out there and the stock performance maybe signaling that, andy hargreaves, what do you think? >> i do think that we'll see some signs in the ad market and that'll be a concern on a go forward basis? >> long-term then? >> the problem t

facebook recently shut down a program where bots started communicating in their own language julia boorstin has the details how scared of this should we be, julia? don't be scared facebook did shut down an experimental ai program but not because they were concerned about robots taking over the world. facebook has been training bots to negotiate with each other to help people them to messenger users. when they realized they made a mistake by failing to get them to communicate in english but rather than our shorthand they shut the program down. bots are increasingly important to facebook, they bought oslo to give recipes and recommend restaurants and movie showtimes and other thing. they will integrate the oslo team to help ramp uppies messenger tools. bots are key for facebook to try to make more money off of facebook it's a top priority. if the bots work they will enable companies to communicate with consumers, and they will also help keep the messenger users hooked but they need virtual assistants that are more like her and less like how back over to you >> elon musk, bill gates, stephen h

. >>> welcome back to "power lunch," i am julia boorstin.hese games come after last year's regular season games suffering rating declines. some analysts are largely interested in the election last ye year we'll have to see how these games are making a rebound and the changes and the format of the game have impacted as well morgan, back to you. >> lets get over to don chu. dow is off 203 points. low of the session right now pointing out here. we are taking another leg lower the last couple of minutes and biotech stock as well and nasdaq is down 1% and you got amgen and gilead down. >>> back over to you >> thank you, don chu. walmart and l brands are falling at the back and macy's is at a year's low bob pisani is joining us >> morgan, i don't think it is at the bottom yet. it was a good report, the main division, good number. the guidance did not impress investors of the stocks traded down walmart did not change the narratives for retailers they're facing a revenue cliff big name like target and jc penney and macy's and kohl's, that's due to a

yale graduate, i believe >> he would be the man >> disney after the bell, iger will be on, julia boorstin does that interview. we would love to have him back in the morning if he wants to join us. >> yeah. >> but it was a couple of years ago, by the way, that espn thing started. that was two years ago >> they put up that release. sometimes you have to speak softly and carry a big stick if they hadn't issued that release, i don't know that we would know about the decline it was a peak. >> they are going to bring the ocho, though he. we're going to have espn and the oshao at least for a short period of time are they >> dodge ball. >> have you ever played trampoline dodge ball? >> no. but that sounds like a concussion waiting to happen >> you have to have real skill for that >> no kidding. >> we'll see what disney reports and we will be all over it up next, we'll have jim's mad dash as we count you down to the opening bell let's give another look at futures, as well it would seem for the lower open, that dow hasn't had that kind of streak isn't what is it , 1959, right? eisenhower, great man

julia boorstin joins us roo it now. julia, good morning. >> good morning, becky coming off last year's ratings slump nfl preseason is off to a strong start with the kickoff game drawing its best ratings in five years and some changes are under way to make the games more engaging and keep that ad time the most valuable in television this season viewers will see less frequent but slightly longer ad breaks about four for quarter instead of five. and some commercials will run along with the game on half the screen and to speed up the game, halftime will be limited to 13 minutes and overtime shortened to ten minutes refs will be able to review plays on the field on tablets to save the time it takes to go to the side liens and the new play clock will start the game quicker after scoring plays. nfl games on nbc, cbs, fox are exposed. together they brought in about $5 billion from football ads last year. now piper jaffray saying in the note that they expect to see above ad revenue in coming months last year's decline was mostly

julia boorstin joins us with the details on the report. >> that's right, melissa snap disappointed wall and revenues, as well as its user numbers. the company added 7 million daily active users in the quarter for a total of 1 73 million. that's 2 million less than analysts projected the average revenue per user coming in at $1.05 that's two cents less than expected now snap ceo tried to reassure investors ahead of the big lockup expiration of employee shares coming on monday. >> given the amount of speculation around the lockup expiration i feel it is important to note that bobby and i will not sell any of our shares this year the company will withhold the shares needed to satisfy tax with holding obligations we believe in the long-term success of snap. >> spiegel and chief strategy officer stress the value they see in their new self-serve add class and spiegel weighed in on the competition. >> we've always been tloost market competing against giant companies and we've historically been able to grow our business in, maates that are highly competitive and saturated by our competitors bec