julia boorstin has the numbers julia? >> hey, kelly.alling dramatically as the company misses in terms of revenue and also in terms of users. the company reporting a loss of -- adjusted loss of 14 cents per share, that's actually a penny better than expected wall street analysts had been expecting a 15 cent loss per share. if you look at daily active users, they're coming in at 178 million for the quarter. that's versus expectations of 181.8 million. so that means the company added 4.5 million new daily active users from q2 to q3. revenues lighter than expectations coming in at $207.9 million. versus estimates of $236.9 million. adds up to a lower average revenue per user than expected arpu, key metric to see the success of the companies, now $1.17 versus $1.30 estimates we talked to khan, chief strategy officer i asked him why the shortfall. he says it's due to a change in how snap changes, sells ads, b saying, "we've taken important steps this year to build a scaleable advertising business transitioning to an auction has lowered price

comcast reportedly approached 21st century fox to buy all or parts of the company let's get to julia boorstin with the very latest. a developing story, julia, what do you know? >> reporter: the latest is that comcast is in talks not to buy all of fox but certain assets, the entertainment assets it would not include the broadcast network. likely a similar assortment of assets that disney was interested in, plus sky in the uk and star in india those two international assets are particularly important comcast, although its cable assets are here in the u.s., nbc universal is obviously more global but this would really allow comcast to position itself more as an international company. we have confirmed with a source that talks are still happening between fox and disney and it would be with a structure similar to what disney was pursuing now we see fox shares up 5.5% on the news, comcast shares over 1% certainly a lot of movement in this media space right now, melissa. >> we've had earnings reports since that initial report that david faber had reported about disney being interested in the assets o

julia boorstin in new york. comcast, the parent company of nbc universal which produces this program. >>> chipotle is searching for a new ceo. that's where we begi the founder is stepping down from his role as chief executive over of the burrito chain. the company has formed a search committee and says ells will become execuma once the replacement is found. an e. coli outbreak devastated the restaurant chain in 2015 and the company has struggled to win back customers ever since. >>> after six quarters of decline, tiffany's reported a rise in same-store sales in the americans, saying there was strong demand for lower priced items and high end diamond pendants. sales in foreign markets slipped with the exception of china. but the company still topped expectations for profit and revenue. shares were off more than 1.5% to $92.55. >>> american airlines is scrambling to find pilots for the upcoming holiday travel season after a computer glitch allowed every pilot to take vacation at the same time. to remedy the schedu

julia boorstin has the report tonight. >> if the justice department is suing. saying it would mean higher monthly television bills and fewer emerging innovative options. the department of justice has not gotten any state attorneys genera at&t is planning to fight this suit. the general counsel and vp, saying the lawsuit is a radical and inexplicable departure from decades of precedent. vertical mergers like this one is mutua approved, because they benefit consumers without removing any competitor from the market. next um, at&t and time warner will ask the court to schedule a hearing on the department of justice's claims as soon as possible. for "nightly business report, i'm julia boorstin in los angeles. >>> meanwhile, here on wall street, stocks started this holiday shortened week higher thanks to a part in the rise of financial and industrial shares. fact the dow jones industrial advanced 72 points, closed at had 3 -- the need dak added seven, the s&p 500 up three. >>> questions are starting to emerge will where stocks can go from here. one school of thought

i'm julia boorstin in los angeles. in at&t's back and fo bid to buy time warner, at&t's ceo randall stephenson said he was never told he had to tell cnn to get approval for the merger. speaking at the "new york times"' deal book conference, he said the deal makes sense. >> one of the key benefits of putting these two companies together is to stand up a new advertising capability. so we have built an amazing distribution platform, 150 million mobile subscribers, largest pay tv base in the united states, a huge broadband base. there's a lot of information and data that we think can be used to stand up a new advertising business. pairing that with the turner advertising inventory is a really powerfu thing, we believe. that is what we aspire to do. selling cnn makes no sense in that. >> at&t was higher by nearly 2% today, and stephenson also added if the issue goes to court, he's ready to litigate. >>> macy's forecasts a cheery holiday season is where we begis market focus. the retailer says it expects to see strong e-comm

julia boorstin takes a look. >> reporter: a legal battle is on. at&t says it's ready to go to trial immediately against the department of justice. at&t sharing its positio on this website and saying consumers will not be hurt by the deal. >> if anything, this merger is going to cause people's cable bills or their tv bills to go down, not up. >> reporter: that's the issue under scrutiny, as at&t's acquisition of time warner anticompetitive? most analysts say precedent supports at&t's acquisition. the department of justice has not blocked a vertical merger like this one in nearly 50 years. but analyst craig moffett says it's not a slam dunk for either side, complicated in a landscape where it would be a rival to other media giants. >> 70% of time warner content is sold to someone other than at&t itself. it's sold to comcast, charter, dish network and so on. at&t, because they directly compete with those companies as distributors, has the incentive to raise costs to competitors, which will ultimately raise prices to consumers. >> reporter: what happe

julia boorstin has details. >> reporter: facebook exceeding all expectations, blowing past projections on the top and bottom line on user growth. the biggest headline, ceo mark zuckerberg saying the financial success doesn't matter if the site is used in ways that don't bring people closer together. he says the company is serious about preventing abuse on its platforms, warning that, quote, we're investing so much in security that it will impact our profitability, saying protecting our community is more important than man myse our profits. his comments come on the heels of the company's testimony on capitol hill today. for "nightly business report," i'm julia boorstin in los angeles. >>> estÉe lauder forecasts a rosy holiday season. that's where we begin tonight's market focus. the cosmetics maker says its efforts to appeal to the millenial demographic are paying off. the company, which was acquired brands popular with that generation, reported a better than expected rise in sales and profits. the company also saw solid demand in its international markets and raised its sales guidance

i'm julia boorstin in los angeles. >>> on wall street, stocks inched higher. the small gains were enough to send the m indexes to new highs. the world's most valuable publicly traded company, apple, hit a major milestone. its market cap closed above $900 billion for the first time ever. here is a look at the closing numbers. the dow jones industrial average six points to 23,563. the nasdaq added 21. and the s&p 500 was up three. >>> since the election of donald trump one year ago, the s&p 500 risen 20%. cnbc's bob pisani takes a look. >> reporter: president trump has often claimed credit for the roughly 20% gain in the market since then. how true is that? the short answer is, he should get partial cr partial credit i the perception that tax cuts will add to earnings and trump is part of the more business friendly environment. after the election the market came to believe that a combination of tax cuts, infrastructure spending, and regulator reform would give an added boost to profits. the s&p rose 6% in the first month after trump's electi more important since

and the media base is on fire around one name, fox julia boorstin is in los angeles with the details >> reporter: melissa, 21st century fox's entertainment assets are drawing a lot of interest, fox's shares ending the day up more than 6.5% after yesterday afternoon news broke that comcast, nbc's parent company, is interested in fox's entertainment assets, the very same one that disney has been in talks to buy that's not all a source close to the situation tells me that verizon has reached out to fox about those assets as well, as it looks to keep up with rival at&t and its pending acquisition of time warner and today a source told us that sony pictures entertainment is also interested in making formal overtures to fox, saying they would be willing to talk if they decided to move forward with a sale of some of those assets sony declined to comment what are these media companies so drawn to about fox? the entertainment assets have a couple of areas of key appeal. first, their international scope. fox's international assets comprise as much as 70% of the company's business that includes

we're following every moment of these earnings calls julia boorstin is in l.a. on the facebook call, phil lebeau is getting ready to jump on the facebook call. we're tag teaming both of those conference calls on the red phone. tesla turned to a bear market after hours. let's get to phil lebeau for all the details. phil, the details are in that shareholder letter, there are a lot of details when it comes to the model 3 >> reporter: a lot of details about the model 3, we'll talk about that in a little bit the free cash flow for the quarter, melissa, listen to this, negative $1.4 billion for tesla. they ended the quarter with 3$35 billion cash on hand as you mentioned, when it comes to model 3, the company has issued new guidance in terms of its production schedule. it says it expects to build 5,000 model 3s per week by the end of the first quarter bottlenecks had to do with the battery modules being built, they could not get those into production as quickly as they would have liked what we know is that 5,000 per week by the end of the first quarter, with an update

back over to you >> thank you, julia boorstin in los angeles.nap is a recent ipo, third quarter as a public company. the third major disappointment as a publicly traded company >> they're saying, we're changing the app because it's hard to use, but we are going to make these changes, we don't know if anybody is going to use it still it really is not a great conference call whatsoever >> we've heard the issues for years. >> hard to use >> that it's hard to use, for years. this should have been something they've been working on prior to >> i can't figure it out >> if you think about it, these guys, their main segment is 25 and under, they're slow in growth there this sounds like twitter this sounds like a company that hasn't figured itself out. i realize the engagement for those that are on this, they're very loyal, advertisers can probably get most of these same people advertising on facebook which has instagram. it just seems to me, why bother? >> dau growth has declined from 56% 20to 16% in the past year. >> not good. >> that wasn't a good numb

for more, let's bring in media reporter julia boorstin in los angeles. a. >> reporter: when the press conference starts any second, we expect at&t to lay outs its case for the legality of the merger and to say that the company is confident the court will rejected government's claims we expect to hear from randall stephenson, the gen counsel as well as outside counsel. stephenson will likely focus on the fact that it's a vertical merger and the doj has not succeedsfully blocked a vertical merger in nearly 50 years, and saying since then it's -- also likely to note that the two companies do not compete with each other and operate in highly competitive markets. they've had said in merger will create more competition, and also noted that the doj approved a similar merger between comcast and nbc university back in 2011. earlier in the month at the "new york times" conference stevenson said he's ready to defend the merger, and said at&t will ask for an competent dieted hearing. stephenson also say as they merge distribution and content, they don't expect to dis

julia boorstin has more. >> ajit pai has unveiled his plans to repeal net neutrality his proposal gives more flexibility on how they charge for services and may be ability to prioritize traffic. but it requires transparency about the practices, and it restores the federal trade commission's overside to monitor internet provirsd for aders for competitive behavior the fcc would require internet service providers to be transparent about practices so consumers can buy the service plan best for them this would benefit the internet and telecom companies including verizon, comcast, charter and at&t. verizon saying we're encouraged by chairman pai's announcement today that the fcc will restore the successful light touch regulatory framework for internet services. but technology companies like netflix, youtube, twitter and facebook could suffer. the proposal is expected to be approved at the fcc's meeting on december 14th. back over to you >> julia boorstin there. >>> uber admitted it paid hackers $100,000 to cover up a data breach last year. names, e-mail addresses and phone numbers from 57 mil

still we take your point let's send it back to julia boorstin with news on espn julia?'s right. a source tells us that espn is planning to lay off more than 100 staffers after the thanksgiving holidays. this was first reported by "sports illustrated. it's our understanding the layoffs will be across various parts of the company and of course this is not the first round of layoffs at espn there were some earlier this fall and again in the spring it this all comes as espn is preparing to launch its direct to consumer app next year. there seems to be real overhaul of the company as it looks to focus more on going digital and also now going direct to consumer and it's my understanding that espn is still continuing to hire in some areas even as they do these layoffs. back over to you >> interesting julia, thank you mike, this is a significant number there have been rumors that more layoffs were coming. i think to see another 100 go is more than people were expecting. >> sure. no, i think it's obviously sort of an ongoing process to resize the whole business and, you know, sh

julia boorstin. >>> time for a krcnbc krns news update. >> al gore attending u.n.germany and says more than 100 businesses in the united states are committed to reducing greenhouse gas emissions and that will maintain the u.s. allegiance to the paris climate accord. >>> under the legal terms of the paris agreement as some of you know, the first day on which the u.s. could actually legally withdraw coincides with the day after the next presidential election in 2020 >>> ivanka trump joined senator susan collins on the stage in maine to talk about tax reform ivanka says the bill is a key to the president's goals of growing the economy and helping the middle class collins favors income tax in relief but not ready to back the senate proposal. >>> chicago, a city ordinance that could fine people for texting or talking on their phone while crossing the street. fines would range from $90 to $500 that's a whopper a similar bill went into effect in honolulu last month you know, if it saves lives, priceless, right, kelly? >> look, i know chicago just needs the revenue but i l

julia boorstin is in san francisco with all the details hi, julia. >> reporter: melissa, another alternative for traditional tv, this one for cord cutters who don't want to pay for sports, philo launching a bundle for $16 a month, four $4 adds another nine channels. the folk is broadly entertainment, including comedy central, the food network, mtv and nickelodeon, but with no news or sports the channels are supplied by discovery communications, scripps networks interactive, viacom and a&e networks. those are also philo's backers, investing $25 million into the startups these media companies are looking to create a new revenue stream to battle rising cord cutting and cord shaving which was consumers switching from traditional tv to skinny bundles. viacom's channels are not included in hulu tv's bundle. those digital bundles are up against a different kind of free content from the social giants, facebook just yesterday announcing an original show starring bill murray about my knowledge -- about minor league baseball, free and ad-supported. all of these options are competing for ad dollars as w

julia boorstin is out west julia. >> hey, jon.isney has more negotiating power with theaters than ever, with the most anticipated "star wars." expected to be the biggest hit bringing in $500 million at the u.s. box office and perhaps as much as $2 billion worldwide according to comes score they are securing record 65% of ticket sales from the film, up from 64% for prior "star wars" films and up from around 55% for a typical film disney is reportedly requiring theaters to show the movie in their largest theater for at least four weeks if a theater violates disney will charge an additional 5% of ticket sales with the u.s. box office down over 5%, theater chains have suffered amces off the most, down 59 %. disney declined to comment on the negotiations but all the big players are expected to agree to disney's terms to have access to the expected blockbuster and concession sales they hope to generate from the crowd. those independent theaters fiwih only one screen may opt out. disney has the upper hand with two of the top three movies

julia boorstin joins us live from l.a >> reporter: hey, tyler, fox's premium content and ott investments would boeingster a number of different parts of disney's digital strategy. first, there is disney direct to consumer app set to launch in 2019 in addition to their library of films and tv shows, some of which is pulling from netflix, fox would contribute "avatar" and x-men and "national geographic" and shows that don't fit with the disney brand such as fx's edgier premium content like the marpamericans could go hulu with fox's stake, disney would own 60% of hulu and control its direction allowing it to grow. beyond the 15 million subscribers it has in the u.s. and japan to better compete with netflix with 109 subscribers worldwide and amazon they have an estimated 90 million global subscribers it is worth noting that fox's sky has an o.t.t. service called now and in germany, sky ticket offers digital day, week, or monthly passes city said in a note that this deal would allow disney to achieve the scale that's necessary to convince consumers to pay a monthly subscription fee for that n

of news on sky, they're confident the deal should close by the end of june 2018 >> thank you, julia boorstin on fox earnings pete, he seemed to firmly defend the path the company is currently on >> what i like most about disney and this potential deal with fox, and that's obviously the part they can't talk much about, it grabs them some international, grabs them some content direct to the customer and all the rest of it you look at national geographic and some of the different areas they'll get some content i think a lot of that makes sense. obviously they won't be able to get all of fox because there's too many things. the justice department would never approve. if nothing else, and i've been very critical of them, but bob iger has made very few huge moves of late. he's made some great ones with marvel and the rest but he hasn't made the moves we were hoping he would to get in the streaming world. this could actually augment that and push them further, faster. >>> coming up, retail on track for its worst year since 2008 and the big department stores are getting ready to face the music tomor

no word on fox back over to you >> thank you very much, julia boorstin who is in los angeles monitoring that call it is amazing how disney has been able to change the narrative. >> totally >> it seems like it's overnight. because we started off this earnings release with a miss and espn cuts. by now, between that time and now, an hour and a half or so later, now the stock is up, because everybody is focused on the streaming service. disney says it's going to make tv series that will debut on its streaming service based on its properties, high school musical, monsters inc >> the top three >> in the pantheon of ceos >> not the parthenon >> before we left the show, it was a $97 stock, it was off to the raises this is the exact same thing why? they missed. they missed on eps and revenues. this is not the first time but he changed the narrative that's exactly right he said what people want to hear i'm not suggesting it should be off to the raisces from here. but that's why he's the guy he is >> the fox deal showed he's ready to do something very aggressive this is a company that could pull i

let's get to julia boorstin at the business ignition conference in new york city hi, julia. >> reportereryone here has been talking about what media deal will come next on the heels of fox's entertainment assets drawing interest from disney as well as comcast as well as the doj suing to shut down at&t's acquisition of time warner i spoke to viacom's ceo. he deflected my questions about whether viacom needs to recombine with its sister cbs. >> we might do a small acquisition here or there. for example, one of the last things i did in international was acquire the number one broadcaster in argentina we closed on that deal in i think november of last year. that was a fantastic deal for us so we will look for things that are incremental to our strategy and can accelerate it. again, i feel very good about the assets we own. >> reporter: i also spoke with discovery's ceo. he predicted we'll see more vertical deals like the at&t/time warner one, between content distributors and creators, saying he sees the distributors looking to acquire more product to make them really different. >> more and

we're back in o.tw >>> let's head back over to julia boorstin with an update on cbs' earnings. julia? >> yes, an update, kelly, cbs though it missed the top line on revenues earnings actually beat, we're correcting the earnings number, adjusted earnings per share were $1.11, beating estimates of $1.07 per share we're correcting the number previously reported. revenues falling a bit light of estimates at $3.17 million. earnings beating expectations by 4 cents. back over to you >> all right we thought, yeah, maybe it was 3 cent miss. shares still are down about 1% julia, thank you very much >>> shares of starbucks are down much more, though, after missing wall street's revenue estimates. they are now down nearly 6%. joining us by phone, r.j. hottovy from morningstar, r.j., what's going on here >> yeah, really there's two things going on here heading into the quarter i think all eyes were on the comp number that was weaker than expected. 2% marngt w market was looking for 4%. even if you factor in the hurricanes, it was a myth on that front long term, the company is looking at 12%

julia boorstin, we're also looking to see the reaction in shares of disney sounds like viacom shares are moving higher as well. there's a lot of balls in play >> reporter: a lot of balls in play here, it certainly seems like now everything's in play. the whole media landscape sees potential for consolidation and also pressure to consolidate, considering the fact that now the internet giants and the tech companies are getting more into the content space, netflix, amazon, all invest more in content, even apple staking a claim in content as well there's pressure to consolidate. i think the fact that comcast is interested in those fox assets, they're probably interested in the same assets that disney is, which are the entertainment assets, and particularly fox's strength the internationally, sky in the uk and star in india. >> fact, julia, it sounds like we do have some awareness that comcast is looking at the same assets that would put off the possibility, mike, that it would be, you know, comcast looking at the news and sports assets >> the news and sports stations. it is really the co

the mergers right now and julia boorstin, he was not drinking but he was not drinking, lets talk abouton big medium mergers he seems to be saying it does not matter whether the government blocks the merger or not. if they do, they'll take it to court for time warner and at&t will prevail he would like to see that. >> that's right. he did have quite a lot to say, even though his own strategy has been to build companies and spin them off and anti-consolidation model. he did say, the department of justice should approve at&t, if it does not, he expects at&t to take it to court and he says it is a battle. >> i don't think it matters because if they don't approve it, they'll win it in court and they should so i would think that they'll fold, the government but who knows i think it would be a good -- i would love to see the trial because i think it will be definitive and healthy >> part of at&t and warner future, it is nothing to do with with any of position in terms of what's right or wrong about media consolidation. it is nuts >> also, i asked diller of the reports that disney is looking t

let's bring in julia boorstin and the news that broke this hour the fda announcing that doj will wantt tv to divest cnn if it buys time warner. we just had andrew ross sorkin on and said the other possible remedy is they divest directv in exchange for getting the deal okayed what are you hearing in hollywood about this and what do you think? >> you know, this has been a topic that's been on the table ever since the deal was announced especially the focus cnn. it's worth noting that there were questions even on analyst calls with companies such as cbs if they were interested in buying assets such as cnn because this is one of these assets that's really been criticized by president trump. i think this all comes down to the bigger question of vertical integration. vertical integration versus horizontal integration and the fact that there's so much competition in the marketplace right now and the argument that randall stevenson and the folks that at&t are making is it's just a different world right now and vertical integration has always been okay and right now there's been more competiti

julia boorstin has the latest. julia? that's right, new reports detailing allegations against lauer reported by "variety. nbc news chairman andy lack saying, "while it is the first complaint about his behavior in over 20 years, we have reason to believe it may not have been an isolated incident. nbc last year signed a new two-year deal to continue paying him more than $20 million per year into 2018 the "today" show bringing in far more ad revenue than any of its rivals the first two hours of the show which lauer co-anchored generating $610 million in ad revenue last year. so this firing is certainly a big shake-up for this big chunk of nbc news's ad revenue back to you. >> julia, thank you, julia boorstin >>> what's wall street's record when it comes to sexual impropriety? that question was addressed in a book 20 years ago, "tales from the boom boom room," about wall street's shocking culture of sexual harassment. author susan antilla joins us, thanks for joining us, susan why haven't we seen the big bombshell headlines f

. >>> in the meantime, out to julia boorstin good morning, julia. >> good morning, sara.cks with another disappointing weekend with warner bros. falling short of expectations bringing in just $96 million over the weekend in north america. that's $14 million less than analysts expected. amc and imax shares are both down over 3% regal and cinemark down over 2% after stocks made gain on friday hoping justice league would lead a box office turn around box office still down 4% to date back to you. >> hoping for another avengers, looks like they got another fantastic four thank you, julia >>> potential consolidation, at least in the media industry, showing importance of owning content in deals like at&t plus time warner and fox plus someone, perhaps on the growing importance of programming and tech platforms, joining us dominic del por vendi content chairman last saw you in barcelona and at the time snap was about to go public and you were bullish on it >> i'm still bullish >> okay, explain >> because i think every platform has a dna, and the dna of snapchat is very different f

. >>> now we have breaking news on the disney company julia boorstin stepping in with details on that >> bill, john lasiter, well known as the founder of pixar, one of the founders of pixar, is taking a leave of absence from pixar which is, of course, owned by disney amid, quote, missteps. this first reported by the "hollywood reporter. "hollywood reporter" has obtained a memo from lasseter to pixar employees saying "this kind of creative culture takes consta consta consta constant -- he goes on to say i especially want to apologize to anyone who's ever been on the receiving end of an unwanted hug or any other gesture they felt crossed the line if will teleway, shape or form no matter how benign my intent, everyone has the rightboundarie them respected." we have reached o eed out to dy about this leave of absence from pixar. we have not heard back from disney yet this has been reported by the "hollywood reporter. pixar has been such a valuable engine for disney. lasseter also oversees other parts of disney animation studios. he's sort of become the face of disney animation, and, you k

julia boorstin has more on what went wrong julia? >> that's the big question, john, how did twitter not have more protections for the president's account? here's what happened for about 11 minutes last night president trump's personal account was deactivated. twitter restored the account, which has 41.7 million followers. the company initially saying the that fsnafu of human error, then tweeted, "through our investigation we have learned that this was done by a twitter customer support employee who did this on the employee's last day. we are conducting a full internal review. it's unclear who this employee was, and the company reportedly considered requiring two employees to remove important twitter accounts, but reportedly never implemented that policy. it's unclear what additional security measures twitter has for the president's account. president trump acknowledging the deactivation in a tweet this morning, "my twitter account was taken down for 11 minutes by a rogue employee i guess the word must finally be getting out and havin

julia boorstin with some details here on new fcc. julia?ra, fcc chairman has circulated his draft order to what he calls restore internet freedom and limit heavy handed internet regulations, referring to the net neutrality regulations that are under place now that regulate the way internet providers give access to the internet. as you see, most of the internet providers are up right now at&t is down just a share. ajit pi saying the federal government will stop micromanaging the internet, instead requiring service providers to be transparent about their practices so consumers can buy the service plan best for them also saying as a result of the proposal the federal trade commission will be once again able to police providers, protect consumers, and promote competition. of course, the tech companies have been very much pushing to maintain rules as they are, saying a free and open internet is the best thing for consumers. the tech companies have not been hurt by this news. this has been very much expected, and this proposal will be voted on at

our julia boorstin out west. >> mixed bag, soaring, twitter underperforming and snap slammed.ebook shares are up 44% since then as it's repeatedly beat wall street expectation, that dramatic growth despite a slew of negative headlines, grog scrutiny on russia's manipulation of the election as well as advertising mismeasurement issues. since the president was elected, facebook added 300 million active users and grown its quarterly revenue by 50% while facebook thrived despite political scrutiny, the president's favorite twitter has lagged despite president trump using it daily as his mouthpiece twitter's gains of 7% in the past year are just a third of the s&p 50021% gains but twitter hasn't benefited that much from the president's daily tweets it added 17 million in the past year that's more than prior year's gains but twitter's totally active user base is about the size of facebook user gains in the past year. twitter execs are in the hot seat for russian ads and other abuse. it is the growth concerns that dragged on shares. they have rebounded on better than expected results

julia boorstin is in l.a. a look at that good morning >> good morning to you, carl b disney buying fox would give it a shot at turning the streaming service into a real player, allowing it to build out hulu's on demand service to better compete with netflix and hulu's new $40 a month skinny bundle to rival youtube tv, as well as the traditional tv giants. nbc, fox, and nbcjuner ha univen stocks of hulu, but gave up its rights as a conditional sale to comcast, so disney would entirely control hulu's direction. citi writing this transaction would allow disney to rapidly achieve direct to consumer scale and effectively compete with emerging ott platforms hulu has 15 million paying subscribers and is only available in the u.s. and japan. amazon doesn't report official numbers, but by one estimate it has 90 million subscribers to its prime service, which includes prime video analysts say it would boost disney's app in the works in 2019 fx and fxx channels wouldn't fit with disney's core brand or app, but could be o

julia boorstin has more. >> snap shares plummeting after disai di disappointing results.evenue decelerating daily active users grew 44.5 million over last quarter's number to 178 million. that's versus expectations of 181.8 million. on the earnings call there was acknowledgment of a problem with snap's app >> the one thing we have heard over the years is that snapchat is difficult to understand or hard to use. our team has been working on responding to this feedback. as a result, we are currently redesigning our application to make it easier to use. >> reporter: spiegel warning that redesigning the app, which they plan to be, will be disruptive to the business over the short term and it's unclear how their users will change their behavior but that snap is betting on the long-term payoff spiegel also says they're betting on content, both more professional shows and new models for user generated content. >> we hope that showing the right stories to the right audience will help grow engagement and monetization for our partners and for snapchat while we've made significant pr

let's get over to julia boorstin for the very latest. >> reporter: kelly, sources tell us that comcast is interested in buying fox's entertainment assets the same assets disney was pursuing a huge part of their appeal, their international scope including sky in uk and star in india, as well as big brands such as avatar and x-men and digital reach with hulu. a source close to the situation tells me that verizon has also reached out to fox about those assets as well as it looks to keep up with rival at&t and its pending acquisition of time warner i spoke to cbs ceoles moonves at our net net conference last night about what all this means for the media landscape. >> i think we were all shocked by the initial announcement which was on cnbc art about murdoch potentially selling some of his content assets. and that sort of surprised me because we all envisioned ruppert as somebody who is always expanding and the reports from cnbc that day said, well, the talks had stopped and no surprise, you know, brian roberts stepped in there so i think what it says is content assets are unbelievably valu

julia boorstin, it's her beat as well what have you been hearing and how complementary do you think thewould be in this case? >> well, it's interesting, bill, when you think about what disney ceo bob iger has talked about, how he's really interested in taking his content direct to consume and the value of disney content, you have to look at what value fox could provide for that disney con tempt antent ant what the big fox assets are. of course there's fx and national geographic. national geographic content might be complementary to some of the disney nature movies that have been out there. they could fold that into the new disney direct to consumer service. you is have to look at the movi studio "avatar. disney is already partnering with "avatar" for a land at disney world, pandora, land at disney world built to look like the "avatar" movie they have some partnerships there and of course there ar the superheroes. bob iger, of course, bought marvel for disney, but some of those marvel characters including the x men and dead pool are licensed to fox that means that they're the ones who ha

julia boorstin >>> well, there's one key issue many u.s.ant president trump to bring up on his trip to asia we'll tell you what that is right after this fees? what did you have in mind? i don't know. $4.95 per trade? uhhh and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab. ray's always been different. last year, he said he was going to dig a hole to china. at&t is working with farmers to improve irrigation techniques. remote moisture sensors use a reliable network to tell them when and where to water. so that farmers like ray can compete in big ways. china. oh ... he got there. that's the power of and. his family. his steinway, which met a burst pipe. so grant met his insurance: you are caller number 12. which didn't quite cover

julia boorstin joins us with a preview. >> hey, kelly. the big question for facebook when it reports earnings shortly is whether it can continue its top and bottom line growth despite negative headlines about topics from mismeasurement to russian purchased ads and in the face of growing costs. analysts project 17.5% growth in earnings per share in the quarter on over 40% revenue growth facebook has beaten earnings expectations seven out of the last eight quarters and has beaten revenue estimates for nine straight quarters now, on average over the last eight quarters, facebook shares have risen over 3% the day following its earnings report. we'll see how this quarter's results stack up at the top of the hour back over to you. >> all right, julia. we'll see you then what do you think? let's debate whether investors should buy facebook right now. david trainor is our bull. brian is our bull. good to see you both david, for you it's a valuation issue. >> i think it's both valuation and the strength of the business i think it's an unappreciate

gop, where we stand, what's going to happen, jacob frankle, ian bremer and barry diller, with julia boorstin on media consolidation, a big couple of hours mi ucongp on "power lunch. take a short break and "halftime report" returns right after this another day at the office. why do you put up with it? believe it or not you actually like what you do. even love it. and today, you can do things you never could before. you're working in millions of places at once with iot sensors. analyzing social data on the cloud to create new designs. and using blockchain to help prevent fraud. so get back to it and do the best work of your life. allow you to take advantage of growth opportunities. and using blockchain to help prevent fraud. with a level of protection in down markets. so you can head into retirement with confidence. brighthouse financial established by metlife. >>> the cnbc iq 100 index, meeting the broader market over one year today's leaders mattel, qualcomm, procter & gamble, the laggards -- for more go to cnbc.com/iq 100. >>> welcome back to "the halftime report. dxc technology also in the

julia boorstin joins us for the hour at post 9 sara eisen is off.ot to watch today the dow breaking through 24,000, now up, intraday record and strong day for the nasdaq, too getting news john mccain is on board regarding the senate tax bill of course, it is the last trading day of the month joining us, dan morgan, senior portfolio manager. before that, elon with more on mccain >> senator john mccain is a yes on the tax reform bill he had been one of the key undecided votes on the republican tax plan, but he said in a statement today that though this is not perfect legislation, he does believe that it will grow the economy and add more money to the pockets of middle class families this is key for republicans. they also got a boost when lisa murkowski of alaska said she would support the bill, as well, so the only two vocal holdouts appear to be senator ron johnson and senator susan collins, so it looks like at this point they are very close, if not at 50 already, in order to pass this bill with only republican votes. but we will see how the rest of

can it continue that breakneck rate of growth julia boorstin here with the numbers. julia?> hey, tyler. with facebook shares hitting another all-time high today, investors and analysts certainly seem confident in the company's growth potential over 90% of facebook analysts have a buyer over rate rating on the stock, a stock which has gained about 40% in the past 12 months and that's a year where the company admitted mismanagement issues and scrutiny in enabling russian manipulation of the election analysts expect facebook to grow earnings 17.5% to $1.28 per share while revenue is projected to grow 40% to over 9.8 billion and there are a couple of key topics to watch. facebook warned ad growth would slow down starting next quarter and we'll have to see how much instagram as well as video ads can help drive growth. we're also looking for details on facebook's commitment to spending on content to buildup its watch platform costs will certainly be in focus especially as facebook just yesterday said it would double its employees focused on its safety and security to 20,000 by th

julia boorstin is here >> tyler, it is so great to be here espn has an app where they spun off and havingt in within app. the total number of players on this app have doubled the last four years on nfl on sunday, if you look at the number, it is striking there were 2 billion minutes spent on the fantasy app in september 2017 this is interesting. this is a separate app that espn is working on and they are ready to launch a new app this new direct consumer subscription service that's going to launch in spring of next year that'll be an alternative and addition to the kind of espn access if you can get if you are subscriber to espn the show that espn has the ability to create a new digital direct consumer service, fantasy is important it is about relationship of consumers and getting those people so hooked on sports that they'll want to watch a live event every single week. >> before we let you go. we want to ask you of family happy content in youtube >> now, youtube is taking steps to crack down a disturbing video featuring children being abused of d youtube have removed 50,000 channels mas

julia boorstin is at ignition conference and she's with discovery communications president and ceo davidv julia? >> thanks so much. dave zaslav of discovery communications, thank you for talking to me. >> there's m and a and so much happening and the changing landscape. first i want to talk about what happened with matt lauer and the series of sexual harassment claims and allegations and firings and it seems like every week there is another big name that's fired how do you address these concerns at your own company >> at least for us, first, i spent 18 years at nbc, a great company. a great friend to matt, and it's just a very sad situation. it's just a sad situation. for us, we've always had at discovery for over a decade zero tolerance, and i think it's not just about sexual harassment i think it's about a culture of letting people know that people need to be respected and we are a creative company and so people come to work and they need to feel safe and comfortable. i think that starts with whether it's bullying or whether it's just treating people respectfully, and in terms of sexua

it's funny how the market's already jumping to conclusions with time warner there julia boorstin is here as well with a little more color julia? >> kelly, i think we've been anticipating this news of the dwr doj would weigh in on this merger for quite some time as we reported over the past couple weeks, it's not just at&t and time warner interested in seeing what the doj is going to do here because all the media space is in the midst of so much talk of consolidation. there's so much interest in fox's assets a lot of people are going to be watching to fee whsee what happs with this deal, how quickly the issues are revolved as a sign for what the environment would be for other mergers >> julia, the question is. what do randall stephenson and jeff, the ceos of those two companies to about swinging after the doj came out and said there were reservations about cnn and so forth does this prompt them to go to court, go sooner rather than they would have otherwise? >> randall stephenson has been clear about his interest and commitment of buying time warner of course, a lot of speculation about w

julia boorstin is out there, now joined by reddit's co. >> steve, thanks so much for joining you. >>essure. >> you have a redesign launching early next year and today announced a new chat feature kind of like slack, how do they fall in to compete with the other services. >> we're trying to make it the home of community and connection online, so wee trying to create as many surface areas to connect and share whatever it is they want to talk about >> how much do you think your changes will help about revenue. i have a 1.8 billion -- >> the is a try opportunities. reddit is already big, but we can be larger. there's a bit after disconnect, like an incredible place, and what you might encounter today, which could be hard to -- at first. i think we can always grow more, but i think with the -- more users comes more revenue >> so what does it say about your ipo plans >> well, our investors -- i think when somebody invests at that valuation, they expect a sniismgs return. that's the contract we sign up for. both for or employees as well, where compensation is largely through equity, you kno

julia boorstin, what's happening?y, at&t, directv, time warner, filing a response to that department of justice lawsuit trying to block the acquisition of time warner by at&t a couple of keynotes here, this is very much reiterating what ceo randall stephenson, at&t's ceo randall stephenson has said, they say this merger is pro-competitive and pro-consumer, they say no kpeter will be eliminated by this merger it's worth noting here, they point out netflix has 100 million global subscribers and plans to spend $17 billion on streaming content in upcoming years. also noting apple, google and facebook have billions of users and hulu as well amazon, billions of dollars on content this year, alone they say this -- they really are trying to point out here that this is a vertical merger and to challenge a vertical merger, the government must prove the merging parties enjoy sufficient merging power in their respective markets it's showing how the market is so different now because of the digital giants back over to you. >> yeah

names in all of the deal talk last night at the net conference, here's what les moonves told julia boorstin>> i think we were all shocked by the initial announcement which was on cnbc, about murdoch potentially selling some of his content assets that surprised me because we envisioned rupert as someone always expanding the idea that he was breaking up some of these assets, having discussions with disney. there are different versions of who thought of it, whether disney approached him, he approached them. the reports from cnbc that day say the talks had stopped. no surprise, brian roberts stepped in there i think what it says is content assets are unbelievably valuable >> shares of fox soaring on all of these reports look at that stock it's up close to 10% 9% there morning in early trade. >> the question becomes what regulators would do with this situation. >> we'll all be watching to see what happens over the next week or two with time warner and at&t >> with verizon, it shows you why at&t wanted to do it and it gives credence to that business model for distribution and content. it's like,