for "nightly business report," i'm julia boorstin in los ge >>> it is te for tak a look at some of today's upgrades and erwngrades. pfhares were initiated with an overweight rating in new coverage at canter fitzgerald. the analyst expects pfizer to have -- despite the -- the price target is $45. the stock finisd slight slightly higher to 36.67.th same annual it's with an overweightti . the firm cites -- the price target is $100. the shares wer a fraction to 86.08. >>> dow component chevron was initiate with a buy rating. the analystxp therets the company's annual oil production to grow thanks to what he cls the mega-asset areas. price target $145. that stock was pressured today by a decline in oil prices. domino's rating was cut from hold to bias, citing the potential for hher labor costs as well. that price target is now 270. that's where the stock closed essential today at $270.04. >>> still ahead, why our market monitory says small-cap energy stocks could offer some big returns. >>> argentina has agreed to a 0 billionoan from the international monetary fund. the deal requires argenti to

julia boorstin has >> reporter: attract new fans atick out from the crowd.rosoft xbox presentation unveiling new and exclusive content and easy access to it. microsoft showcas 52 games including 18 exclusives for the x-box console and announcing it's buying a five game studxbs. ox is adding more games and features to $10 a month game pass subscription. miosoft head of gaming phil spencer sayg the services changes will accelerate its growth. >> what we are seeing today in game pass is an expansion in scribe subscribers but who play more games. for the industry it drives higher engagement across more franchises. >> one game everybody t isking irre at e3 is epic ford night and gone val thanks to the ability to play with big groups of people and also across both consoles and mobile devices. the success is prompting console makes to make changes to support that game play and prompting val game makers to make change to take it on. >> we are continual working with epic to g make thate even bigger. they are doing esport work this year. us. a huge hit for >> in respo

i'm julia boorstin in cannes, france. >>> the media merger lifted the mood on wall reet. while netflix and facebook closed at new highs, but lingering trade tensions weighed on the dow and stocks finished mixed. the dow jones industrial average fe 42 points to 24,657. the nasdaq rose 55 and t s&p 500 was up 4. >>> shares of general electric fell today as the company enters its next chapter. after more than 100 years of the dow component, ge will be removed from the blue chip index as we reported lastnight. during its time as a member of the dow, g esaw someig very h highs and some very low lows. ge literallyhanged the world from light bulbs to locomotives to household appliances,ower generation and jet engines. with a market cap of $594 billion in the year 2000, it was the world's most valuable company,ut its removal from the dow jones industrial index next week i the latest symbol of how far it's fallen. >> is clearly a sign of the difficulties ge has had. >> the index haseced that it was irrelevant. >> reporter: now valued at 113 billion, ge is still bigger than united

o of face book, sheryl sandberg, making comments on recent issues julia boorstin joins us with that.> speaking at mncht i.t.'s commencement address, power to inspire change and also its dangers. she addressed the facebook scandal issues directly. >> at facebook we didn't see all the risks coming and we didn't do enough to stop them it's painful when you miss something, when you make the mistake in all the good you're seeing that you don't see the bad. it's hard when you know you let people down. >> saying building technology that supports eequality, democracy, throwing up every roadblock against hate and deception. carl, certainly continuing her apology tour here for those issues in that cambridge analytica data scandal back to you. >> julia boorstin, thank you very much. we'll take a quick break and back out to quebec city for the g-6 plus one summit when we return stay with us ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers

the largest video game conference is here let's get to julia boorstin with the latest hi, julia. >> reporter: melissa, microsoft and electronic arts have made their big e3 announcement. new games and subscription services are the trend microsoft showed the content when it showed 52 games, 18 of which are exclusive to xbox console. also announcing it's buying five game studios to bolster the content library. microsoft's head of gaming phil spencer explaining the company's plan to grow its $10 a month game pass service adding more games and features without raising the price. >> we have a long-term approach at microsoft about where this subscription can grow. we know that price point's very critical as we think about multiple devices and reaching gamers on any device that they want to game on. we want to start with the subscription at a price that we think can be mass market. >> as for the viral hit fortnite from epic games, it can be played across mobile devices and con soles. it will be on nintendo's switch. spencer tells us it's benefitted microsoft. >> fortnite has been a huge success for

it's been big news julia boorstin has more details as well. morning, julia. >> good morning to you fox's board announcing an amended merger with disney, disney paying $10 more per share, deal for fox worth over $71 billion. the offer now is a 50/50 split between cash and stock and about $6 billion more than comcast all-cash offer made last week. disney ceo bob iger saying on an investor call a few hours ago that the company has become more committed to this deal, particularly because of its assets including hulu and sky. take a listen. >> distribution in terms of direct to consumer distribution has actually become an even more compelling proposition in the six months since we announced the deal there's just been not only a tremendous amount of development in that space, but clearly the consumer is voting loudly that these new platforms are very compelling >> iger also saying on the call that disney's confident that it will obtain regulatory approval and that disney has a meaningful head start on comcast. >> we've been working with regulatory a

julia boorstin joins us to discuss the result. julia, good to see you here in new york. we hear a lot about the gender gap o wall street. basically what were some of the details of the survey? is it as dramatic as some people perceive i to be >> there are a lot of rumors where people say women have a rd time breaking the glass ceiling. women see a lot of bias that men don't see.e' th a lot of talk about equal pay, and one thing that's really interesting is only 40% of women think they believe that men and women are paid equally, whereas, 75% of men say they think that men and women are paid equally atheir companies. so big discrepancy between us and the issue of pay? been promotion issue has a big one on wall street. what did the survey tell uab t whether or not men and women in finance see this issue the same way? >> we asked the question of whether men and women, we asked and of them, whether m women are promoted at an equal weight. less than half the women think ey are promoted in equal weight. 3/4 of men say they see relatively equal promotions. so it's interesting t

julia boorstin following the trial from l.a. julia?: district court judge promised a ruling tuesday at 4:00 p.m. on the department of justice's suit to block at&t's acquisition of time warner. this follows six week trial an another six weeks of the judge's deliberation. analysts greg move fet saying that wall street says that at&t has an 80% chance of winning, though the outcome is still more of a coin flip and a lot says on what the judge says in the nuance of the verdict. if at&t wins with no conditions, that's a huge relief to take a and time warner ahead of their june 21st deadline to complete the deal. a win would prompt comcast to make its formal offer for fox's assets and it could kick off further consolidation in the media space. with an at&t win, also comes the possibility of a doj appeal and we'll have to see her a judge grants a stay to prevent the merger from going forward. that could cripple the company's commitment to the deal. a ruling against the merger would not only kill the $85 billion deal, it would also cast a paul

let's send it over to julia boorstin at cannes lions with a very special guest >> good morning.nes lion with snap ceo evan spiegel. full disclosure. nbc universal, cnbc's parent company, is an investor in snap. evan, thank you for joining us here today we really appreciate it. your first tv interview with your ipo over a year ago here you are at cannes the big question is, are you winning ad business from the kes of facebook this year? >> well, there's definitely a lot to go around, obviously, as people start transitioning dollars away from traditional mediums like television. the really important thing has been the way we've evolved the years.ss over the last three three years ago at cannes we announced full-screen vertical and people thought we were crazy. at the time everyone had postage stamp sized video. and that's how they were running ads all over mobile. vertical and now that's just become a dominant format all across mobile. and what we tried to do since then was start solving problems advertisers were having. gosh, advertising is really expensive on snapchat. it's hard

. >> julia boorstin has the latest including some of the fresh comments from the ceo, yule jul. >> that'sight. >> stephenson came on cnbc saying the system worked he explains how the company will benefit from the melting of content of distributions >> we are building out all new forms of distributions 5-g is coming. we actually believe that at the time premium video was a great place to invest and be and the tech companies are just demonstrating that to us we want to participate in this >> as for what's next, at&t will unveil a new time for historic time warner and the former ceo will stay on the advise through transition they say stephenson is facing with corporate cultures. >> and we'll run these businesses independently but there are things we need to do to create value together the advertising and as i mention of making sure where we are beginning to think about creating content that's curated or formatted for the mobile environment as well. >> tsteph -- headlines just crossing moments ago from bloomberg says that fox's board is meeting next week we reached out to fox for a comment an

guys, back over to you >> julia boorstin. thank you. michael graham, great to have you with us. >> thank you >> i don't know if you caught the last end of the notion of spiegel being willing to possibly in the future to give up control of the company, what do you think he means by that? >> well, i think it is pretty clear in the short term and immediate term he does not want to do that it is consistent with other big internet companies and google and facebook and it is a custom that has been established and more or less accepted by institutions these days that these large tech are going to be in founder's control i think he really like t to -- retain control snap for the time being i think he's trying to manage the company through a series of transition that are a little bit bumpy. one of the things that's true of his tenure is he's been true to a vision and has been able to keep the company moving more or less in the right direction. >> you put that diplomatically in terms of transition, where do you think the company is now in terms o

i'm carl quintanilla, post nine, along with julia boorstin, jon fortt.organ has the morning off big interview of the day, buffett and dimon speaking with our own becky quick and how it could lead companies to make poor decisions to satisfy shareholders >> you can change exposure by making a phone call, do some swaps and hundreds of millions of dollars revenue a lot of people cut marketing. that's one of the easiest things to cut. >> right. >> you can pay people left it's like airplane maintenance you can reduce airplane maintenance but it's a really bad idea. >> yeah. >> yeah. tell me if you're doing that any place. >> covered a lot of ground big op-ed in the journal about this corporate guidance theory they're putting out there. along with other comments about the economy, the consumer, the markets, the euro, trade and a lot more. >> so much there i really think this issue of short termism is something i hear a lot about on the west coast. bob iger doesn't provide quarterly guidance for disney. whenever we report the result compared to expectations, he

quintanilla, morgan brennan, jon fortt dick costolo, good to have you he was able to listen to julia boorstinrapping up her interview with snap chat ceo evan spiegel. >> isn't it uncanny how much evan and i look like each other? that jumped out at me while i was watching that. >> the thing that people need to understand about snap is irrespective, they have a ton of daily active users and that should drive more than enough inventory to be the growth driver when i look at the user they have and the current revenues they are if the programmattic advertising works, second price options and yield optimization, they've got a lot of revenue growth there, even before growing users. >> is that a bigger, broader vision thing spiegel talked about revamping android, for example. >> it's a good question. what we'll know in the next couple of quarters, the programmattic rm is ether they've got a technological issue with their platform that's not good enough in not allowing advertisers to spend what they want to spend or is it just that advertisers aren't used tot yet? and they're starting to put more mone

julia boorstin joins us live >> i'm joined now by the ceo of i-heart media.is relevant for the conversation we are having today bob pittman is the fact that you sold aol to time warner and you know all about media m&a what is going to happen with this latest battle it look like a big classic bidding car. i think there are two things one is the bird in the hand worth a little more money? is disney farther along? i think what is clear is that fox has great assets disney and comcast have aspirations to continue to build their companies with new assets to get bigger and more diverse. >> what are the chances that deal is close to being approved. >> i am not a lawyer i would have no idea >> what do you think that the company that does not end up buying fox will end up buying? what is the next closestet. >> i don't know. but it's clear they both signal they want to get bigger and they have aspirations to get competitive in more fields and they both said we need more content assets in order to do that maybe we are shifting from focusing on platforms to back to focusi

julia boorstin here on set with us has more on that. >> that's right.acebook and four chinese clinics companies have data partnerships to give more access to facebook on their phones. huawei which has been flagged as a national security threat "the new york times" reporting that these deals are among the 60 partnerships with phone makers which provided access to users' private data for integration into their phones. facebook responding to this report that it controlled the integration with these chinese phone makers and approved the social experiences the company built with data and adding that a wind down with huawei by the end of the week. facebook's vp of mobile content saying, quote, we want to make clear that all the information from these integrations with huawei was stored on the device. not on huawei's servers. still this raises more questions. thune demanding facebook provide data about those partnerships. guys >> julie, clearly the share price effect of this is far less than it was a couple of months back when it was more fresh. but that said,

of course julia boorstin is also with us.d morning. >> part of your job is to monitor all this content given the news every single day whether it's the president tweeting or so many ceos we've been saying are tweeting about immigration and other things is there a way for twitter to monetize those tweets? >> you know, i think there is an opportunity for marketers to get next to the conversation that makes the most sense for them. you know, in addition to all the tweets happening, there's also a tremendous amount of conversation around the world cup. we're seeing that's a tremendous opportunity for marketers to connect with that conversation and also connect with brand content. every single goal in the world cup is actually going to be on twitter. so it really depends on the marketer and what they want to do and we give them the controls to actually direct their messages to the right audiences and the right content. >> of course there's so much information about the world cup. but what's so striking is the news is not just bein

consoles launching, content and competition will hit game -- with hit game fortnite in focus julia boorstin angeles live from the microsoft theater at e-3, after speaking with microsoft's head of gaming julia. >> morgan, that's right. new and exclusive content and easy access to that content was the focus of microsoft's big xbox announcements yesterday microsoft showcased 52 new games. 18 of which will be exclusive to xbox, also announcing it's buying five game studios microsoft's head of gaming phil spencer telling us about the growing importance of its game pass subscription service, $10 a month, to which it's adding new content and features >> what we're seeing today in gam pass is not only an expansion in subscribers but the people who subscribe play more games. it drives higher engagement. >> with epic games fortnite taking the gaming world by storm on both consoles and mobile devices he tells us thgame's success has been a win for microsoft >> fortnite has been a huge success for epic games it's great to see that we love when big hit games do very well on our platforms we're seeing th

we'll assess which areas of the market you can still make money in >>> i'm julia boorstin facebook saysdata with chinese phone makers. what that means for facebook and the users. >>> i'm leslie picker. how hedge fund management may ba health >>> and i'm kelly evans. a new report says % of housing markets are overvalued we've got the details coming up on "the closing bell."

. >>> i'm julia boorstin at the cannes festival. disney raising its offer but is the bidding war over? >>> i'm phil lebeau in south carolina where volvo is opening its first u.s. final assembly plant. those details coming up. >>> and i'm kelly evans. amc is out with its own movie subscription service the ceo will join us in a cnbc exclusive. "the closing bell" starts right now. ♪ >> i had forgotten about this song that was a good thing. >> it's good to be reminded. >> no, it's not. >> it's fun. it was terrible. >> this is actually the perfect song for this story. >> i don't know if we could super-impose rupert murdoch's picture on >> welcome to "the closing bell," everybody we'll get to all of these stories in a moment. fox is the big news today. we'll show you what's happening with the shares. but here's a check on the broader markets. the dow which we'll be talking a lot about today swinging more than 170 points. down about 47. i'm going to keep going. >> let's get right to that top story. julia boorstin on the latest for the figh

i'm carl, jon fortt, and julia boorstin with us at post nine for the hour a lot going on joining us onet elevation partners co-founder and early facebook investor roger mcnamee. a loto get to with roger today. we will begin with facebook the social network under fire again after disclosing data sharing partnerships with at least four chinese firms including huawei a chinese mobile phone company u.s. intelligence officis have identified as a national security threat. actually, a lot of facebook headlines today. there's the huawei and data sharing, news on insta and video, deep dive on what'sapp and the riff between the founders and zuckerberg. the data sharing what does it mean to you, knowing where we've been on the story? >> as investors i think we have to take a couple issues away the first is that facebook's lack of transparency relative to its business practices is in conflict with the politics of being as big as they are and it's produced this drip, drip, drip of revelations for stuff going on for years aeir wo and honest about it is going to be a political problem for them and a

julia boorstin is here on set in new york with more on the inaugural closing the gap women in fnls surveyt are the results >> we teamed up with linkedin to survey 1,000 men and women women see a bigger gender gap than men see the gap does not seem to b closing anytime soon now, 37% of women and 56% of men think men and women are equally likely to become leaders and success does not make women more optimistic about opportunities in general female managers are only slightly more optimistic about the pace of change than women on average. the issue, respondents say men are simply promoted faster, less than half of women, about three quarters of men, say men and women are promoted at an equal rate our survey followed top u.s. banks reporting in march that women are paid about half as much as men in the banks of jpmorgan, morgan stanley, and bank of america. our results identified perceptions of a similar pay gap here in the u.s. 40% of women and three quarters of men agree men and women at the same level are paid the same so what will it take to close the gap? respondents say fixing corporate

julia boorstin has the latest from l.a. >> reporter: john thune just now saying he plans to ask facebookl information about the "new york times" report that user data was shared with 60 device makers, including apple, samsung and blackberry facebook gave device makers access to data on users and their friends. facebook is saying the data was simply shared to give users access to their facebook accounts facebook's vp of product partnerships saying, quote, contrary to claims by "the new york times," friends' information, like photos, was only accessible on devices when people made a decision to share their information with those friends. we are not aware of any abuse by these companies. "the new york times" attorney general, barbara underwood, saying news of these partnerships another reminder of unanswered questions regarding facebook's misuse of consumer data following the cambridge analytica scandal. this "new york times" report and the question it raises about whether facebook violated its commitment to protect user privacy again raises the threat of regulation and it comes amid anothe

you know it, cnbc parent company comcast launching a megabid for assets we want to go over to julia boorstinning, the all cash offer for fox assets is a 19% premium to disney's $52 billion deal for those same assets comcast looking to buy fox's movie studio, cable channel, putting afx, star and hulu and sky and it will enable them to better compete with the likes of netflix and amazon >> we firmly believe that the truly great media companies of the next century will be large, integrated entities across a large swath of the global entertainment industry we believe our proposed acquisition of fox would not only enhance our distribution and content, but would take to us global reach and additional growth in these businesses >> in its offer, comcast agreed to the same framework of divestitures as disney to ensure the deal goes through, including potentially selling the sports new yorker as for hulu, they say comcast will consider decreaseing its ownership stake from the 66% it has should the deal go through to 50% on a call yesterday, they stressed the value of hulu to compete with the streaming

julia boorstin is with us on how to combat the gender imbalance in silicon valley. >> silicon valley diversity. now a group is trying to change that by focusing on the source t power and the money there. we'll have that story after the break. hi, i'm joan lunden with a place for mom, the nation's largest senior-living referral service. for the past five years, i've spoken with hundreds of families and visited senior-care communities around the country. and i've got to tell you, today's senior-living communities are better than ever. these days, there are amazing amenities, like movie theaters, exercise rooms and swimming pools, public cafes, bars, and bistros, even pet-care services. and nobody understands your options like the advisers at a place for mom. these are local, expert advisers that will partner with you to find the perfect place and determine the right level of care, whether that's just a helping hand or full-time memory care. best of all, it's a free service. there is never any cost to you. senior living has never been better, and there's never been an easier way to get

at&t closing its $85 billion acquisition of time warner julia boorstin joins us with more after we heardrom at&t's ceo this morning >> that's right. ae at&t's ceo saying we got our day in court and the system works. stevenson coming on cnbc to talk about what the combined companies will look like as the telco giant. >> there are things to do where we create value together the advertising. the making sure that we're beginning to think about creating content that is curated and formatted for the mobile environment as well. and actually the creative talent within time warner is excited about that so the managerial challenges to make sure we don't create a clash, that we create a melding of these cultures and preserve what is really strong about each culture. >> the justice department could still appeal the decision, even after the completion of the deal stephenson says he's not concerned about government opposition but he does warn other media companies that his win doesn't necessarily mean that other deals are in the clear >> when you get into this process, the facts and circumstances abou

julia boorstin joins us with the ceo of take two. >> thank you for joining us.e really appreciate it. now, melissa mentioned, fortnight, everyone is talking about it in your fourth quarter earnings you missed wall street estimates and you attributedt in part from competitions with the battle royale like fortnight. >> we guided up for the fourth quarter and didn't quite reach where we said but it was a wonderful year and we're proud of our results there is a competitive landscape. fortnite plays a part in it. other people's successes are good for the industry. we would le to corner the market on hits that's not realistic we think fortnite brings in younplayers, female gamers >> we saw electr arts make changes to its battlefield game intoes a battle royale are you going to make a change >> no, those mature titles are meant for 17 and above we have used battle royale before and we're open to any mode that appeals to consumers and entertains consumers i've said before, though, being derivative isn't the way you win in the entertainment business. you have to be innov

i'm carl, jon fortt, and julia boorstin with us at post nine for the hour a lot going on joining us oners co-founder and early facebook investor roger mcnamee. a lot to get to with roger today. we will begin with facebook the social network under fire again after disclosing data sharing partnerships with at least four chinese firms including huawei a chinese mobile phone com

financial services and here onset with more on closing the the gap, women in finance is our own julia boorstin so much for having me. our linkedin survey of finance professionals found both men and women see gaps in pay, promotions, and opportunity and women perceive the gaps to be bigger than their male counterparts do so what do they say are solutions to closing these gaps about a third of both men and women say an unsupportive or biased corporate culture is the biggest obstacle preventing women's advancement. while nearly 20% of women say the lack of female leadership is an issue and 14% of women say it's a lack of mentorship in the workplace that's the biggest issue. women and men both list the importance of a more flexible work schedule to foster a more inclusive environment for everyone and while it wasn't presented as one of the survey options, a number of women wrote in that equal pay is key to retaining female employees only 44% of the respondents say their companies support official initiatives while 23% say they don't know if their companies support any such programs. almost no one

julia boorstin knows what's going on here.he's here without sunglasses. >> squinting into the sun. here in cannes everyone is talking about facebook, which dominates a huge piece of the digital ad business and everyone is talking about what is next. facebook has a big beach setup behind me and they're pretty much owning up to their mistakes and talking about the changes the company is making. front and center are stations to do a privacy checkup to your account. we spoke to michael cason who said facebook is responding to demands. >> if brands have transparently they'll be comfortable if they don't, if there's more opacity around data sharing, we'll continue to see a true threat to that so-called duopoly. >> we also spoke to unilever's cmo who said his company stuck with facebook throughout the data scandal >> i'm satisfied with the progress they're making. we're not where we need to be yet. they know that, i know that, you know that. it's a big company it's making big changes. >> the broader issue of brand safety is the issue

julia boorstin joining us now. >> thank you so much we surveyed both men and women at financial institutionsluding banks, research firms, hedge funds and private equity and the results show women see a bigger gender gap on wall street than men do. in the workplace more women have seen gender discrimination and harassment at their companies than men 72% of women say they haven't witnessed it versus 84% of men and wait a minute are about four times as likely as men to believe women are excluded from after work activities. this translates to concerns about women's ability to break through the glass ceiling. 37% of women say men and women are equally likely to become leaders in their industry. that is compared to 56% of men who see equal potential for men and women to become leaders. so why is that nearly three quarters of men say men and women are promoted at an equal rate, but fewer than half of women say they have the same opportunities for promotion as male peers back in march big banks reported paying women about half as m and there is a similar gap here in the u.s 40% of women say they agr

boorstin has the details. explain this complicated story to us, julia >> "the new york times" reporting that facebook shared data devicemakers include i including sam zon asung and appe facebook saying the data was simply shared to give users access to their facebook accounts on these devices. facebook's vp of partnerships telling us contrary to the claims by "the new york times," friends' information like photos was only accessible on devices when people made a decision to share that information by friends. this report and the question it raises about whether facebook violated its commitment to -- it made to the ftc to protect user information. and it comes amid potential election manipulation. "the new york times" highlighting political ads masquerading as news stories aiming to influence the california congressional primary election, ads that ran at the beginning of april facebook responding that since then, it's rolled out changes requirg issue and political ads to be labeled into advertisers be authorized. it didn't start enforcing those changes until late may sara, back to you. >> a lot to dig in here. i'm