i'm deirdre bosa with jon fortt, carl quintanilla and julia boorstin cult capitalism, the key to a great company? from elon musk to tim cook, we will discuss, but, first, a news update, let's get to rahel solomon. >> good morning. here's what's happening at this hour new home sales increased in july after three months of declines median price of a new home is over $390,000, that's up more than 18% from a year ago. >>> best buy says that demand for work from home computer equipment will remain strong the retailer raising its annual sales forecast and posting strong q2 profits, best buy shares up more than 6% this morning. >>> cigna on the rise. the insurer will spend $2 billion on accelerated stock buyback plan shares still down 20% from their may highs, but the stock is positive on the year. >>> and mcdonald's announcing a slew of promotions including a new global chief marketing officer and some new heads of their international markets. the moves come a month after mcdonald's created the position of global chief customer to try to improve its digital and in person customer experience ca

carl quintanilla with jon fortt, deirdre bosa and julia boorstin. julia has warner bros.ir and ceo ann sarnoff in a moment. first, an update with dominic chu. >> here's what's happening at this hour. a small decline in jobless claims last week, but the 385,000 new applications for unemployment benefits is still high however, continuing claims fell to another pandemic era low. >>> the u.s. trade deficit jumped nearly 7% in june to more than $75 billion that's a new all time high, by the way. exports did rise slightly, but imports grew nine times as quickly. >>> and insurance giant cigna falling 13% in trading so far. its second quarter results topped forecasts the company doubled this year's expected profit impact from covid-19 cigna gave full year earnings guidance below analyst consensus estimates. >>> spirit airlines is canceling 400 more flights today, about half of its schedule this according to air travel tracking sight flight aware. spirit now in the fifth day of heavy flight disruptions that stranded customers across the country. they canceled around 1700 flights,

the company just keting under wa julia boorstin living in. >> 7.5% lower despite beating expectations on top and bottom line with record revenue growth and stronger third quarter guidance than analysts anticipated. what's weighing on the stock right now, you see it down over 7.5% low than expected active accounts growing to 55.1 million. added about 1 moin 5.5 million than the 2 million growth expected also a $1 billion hour decline in streaming hours in the quarter falling to 17.4 billion. that number also falling short of analysts projections. the company warning player gross margins turned negative in the quarter on tight components, supply costs and shipping constraints. warning also that that will continue into 2022. rokus ceo anthony wood weighing in on all the trends this afternoon. >> people are watching less tv than a year ago. even a quarter ago, because they're going out more things are opening up. if you look at where they're spending time watching tv, spending time streaming versus traditional tv even the roku hours, up 19%. look at the streaming platforms overall, total

julia boorstin joins now to break it down. julia? does indeed, jon calibrate launcheds obesity telehealth product last year june 2020. now raised nearly 1 $128 million total with tiger global and a fund leading this $100 million series b round and funder spun zimmerman joining the company's board. ceo isabelle kenyan says the company is on track fors 21 millionrevenue and members reported average 14% annual body weight loss in just the year of using the service. customers pay a monthly fee for an app and curriculum advising on lifestyle changes similar to what ww and noom offer. what makes cal brate different, includes one-on-one coaching and telehealth meetings with doctors who were prescribe weight-loss drugs and that's usually covered by insurance the pandemic has been a catalyst for growth as it's expanded entirely virtually. >> the potential is so much bigger right now, physical locations and consumer intent now because of covid right? before covid might not have been seeing a doctor on telemed and today you are focusing on unde

julia boorstin has details >> carl, the bureau of consumer protections acting director wrote a lettero mark zuckerberg telling him he is disappointed how the company conducted itself this battle started on tuesday when facebook disabled the account of researchers at the nyu ad observatory claiming they study political ads using unauthorized means collecting data from facebook in violation of our terms of service. we took these actions to stop unauthorized scraping and protect people's privacy in line with our privacy program under the ftc order. facebook saying the rchers designed a browser program to escape links and they collected data about facebook users who did not install this extension or consent to the collection of the data the ftc said had you honored your commitment we would have pointed out that it does not bar facebook from creating exceptions from good faith research in the public interest. nyu researchers deny wrongdoing and they were quote gratified for the ftc's communication that facebook is not required to shut down our work. we are eager to return to our work faceb

julia boorstin has more on hollywood's streaming strategy and the backlash julia?his is all part of a complicated battle over the future of film distribution. "jungle cruise" which cost an estimated $300 million to produce and to market, it grossed $34 million in the u.s. box office, plus $28 million overseas as all those markets feel pressure from the rising delta variant and it grossed $30 million in digital sales from disney plus. now, the question is how much those ticket sales were cannibalized by the film's availability at home, and how much that at home availability drove piracy move et nathan son warns this will all lead to a negative cycle, lower box office, leading to more digital distribution, that leading to more movies shifting to direct to consumer, which puts pressure on the box office again even with the streaming revenue, the film did fall short of pirates of the caribbean, which disney had hoped would be a model and would -- this will make it tougher for "jungle cruise" to reach profitability disney is focusing in on that $30 million streaming rev

i'm deirdre bosa with jon fortt and julia boorstin today getting crushed as growth continues to slow. why zoom's run may be over and traditional investors being put on hold. what to make of the latest meme names? later on, we're live outside the courthouse as jury selection begins in the elizabeth holmes trial. >> we're going to start with the work from home darling that hit a speed bump zoom down more than 15%. the stock having its second worst day ever, following results that beat estimates but saw overall growth slow. revenue up 54% year over year. great number, but a tough comp against last quarter's 191%. you heard that right it is concerning for investors this morning guidance for next quarter, lower growth the stock already cut in half in terms of where it was trading in october of last year and, yes, a work from home darling, but now it finds itself competing with titans like microsoft and salesforce, a number of well funded startups on the other julia, i think this is a story that we're seeing play out again and again. zoom, of course, competing with teams and others, they ta

i'm deirdre bosa with jon fortt and julia boorstin carl is off this week. today, amazon partners with affirm as the buy now, pay later craze continues. affirm shares up nearly 40% this morning. then fubo tv gets into gaming as streamers have to get creative to retain eyeballs later inside the app store, apple and google facing regulation in south korea and here at home the profits sent, how they share them under scrutiny. >> we're keeping close watch on tropical storm ida and we'll be live on the ground in new orleans this hour all as stocks move to the upside, fresh intraday highs this morning for the s&p and nasdaq >> and that is where we begin at tech stocks and the market mike santoli is looking at how much is left in the tachknk for this rally >> plenty on the nasdaq side of things, on a long-termer term basis, the nasdaq and s&p up 20% year to date go back a year ago, the big faang stocks were making a very climactic peek that led to a 10% correction not seeing the same kind of trajectory but that is interesting here is that the -- both the nasdaq com

salesforce is the big name on today's after the bell earnings calendar julia boorstin has a preview for the company hasn't missed estimates even once in at least five years we'll have to see if that streak continues for the dow component. the key number to watch is revenue growth it's projected at 21% to 6.2 buld and also, of course, watching revenue guidance. analysts expect 23% revenue growth in the third quarter. analysts will also be looking for updates on the integration of slack and upside from that deal which closed just last month. going into earnings, 79% of analysts have a buy or overweight rating on the stock the rest are holds no sells wilf >> julia, thanks for that. >>> we have just under two minutes left in the session. set for two record closes once again. mike, what are the intels telling you? >> solid but not as strong as the last couple of days in terms of market breadth. the new york stock exchange flit right there. roughly 60%. upside volume the last couple of days a lot of given and take. take a look on a day-to-day basis. the beta stocks, risky ones, now nosing ahe

i'm carl quintanilla with jon fortt, deirdre bosa and julia boorstin julia has the head of facebook mathbut first let's get a news update with rahel solomon. >> good morning. here is the latest from afghanistan. the pentagon now confirming two explosions outside the kabul airport. one at abbey gate and another at or near around the baron hotel the pentagon calling it a complex attack that resulted in a number of u.s. and civilian casualties >>> taliban sources telling nbc news the suicide attack killed 13 people including children u.s. intelligence officials say it appears at tacks were carried out by isis-k, an isis splinter group, an adversary of the taliban. >>> a kabul emergency hospital says there are 30 wounded from the airport explosion and six people died on the way to the hospital much more to come throughout the day. stay tuned for breaking news coverage of the latest developments from afghanistan. back to you, carl. >> rahel, thank you very much. >>> as we said earlier, faang stocks rallied over the last week as the nasdaq notched the 30th record close of the year. our next gu

julia boorstin has more on the number you need to watch for as we hear from media and streaming companiesen numbers to watch are growth and reach of new streaming platforms. that number is in focus because it's a sign of the media giant success pivoting to new digital models when roku reports this afternoon, investors will be watching total active accounts a measure of its reach that's projected to hit 2 million. viacom cbs which reports tomorrow morning faces questions about whether its streaming platforms are subscale now its ad-supported free service pluto is expected to add 5 million active users over the course of the court for a total of nearly 55 million paramount plus and showtime are expected to add 4.5 million subscribers for a total of 40.5 million subs and though lifting lockdowns raises the risk of slowing growth, we've seen positive signs from the media skwlints. hbo max raised its guidance for full-year subscriber numbers peacock reported 54 million sign-ups, including 24 million active accounts. and discovery has 18 million paying subscribers adding about a million just in

down on the die very generals in the recovery here to break down the headlines, michael santoli, julia boorstincome everybody. let's start with planet fitness. this is supposed to be a recovery story morgan stanley giving shares an overweight, $93 price target they're saying any growth concerns would only be a good entry point, talking about recent data pointing to a return to in-person fitness this is quite amazing. planet fitness number ships and usage are at about 90% of pre-covid levels a quarter of the gymsclosed during the pandemic. would this stock be a buy? >> look at the chart to begin with if we look at planet fitness within the overall sector industry, the recreation services, it's moved into a position on a relative rotation where it's starting to outperform the s&p 500 it's interesting technically we've been stuck below 85 for a long time and a breakthrough would be interesting. the general consensus is covid is here to stay. i think people are realizing a healthier lifestyle is the key to fighting disease. people are also maybe dreading another winter inside. maybe they're going t

multiple outlets showed they shelved their version because it painted can't in a better light julia boorstin and diving into some of those details this morning hi, julia. >> carl, just more tough questions for facebook about content and transparency and how it does all of these things. facebook released its second quarter report showing a softer side of the platform, the most shared post for those three months was a word puzzle but then friday the new york times reported that facebook had compiled a similar report about content shared in the first quarter. and the times alleged it had not released that report because of concerns that it would look bad. facebook refuted that that is why it didn't release the report, saying rather they didn't release it because of technical issues compiling their report they went on to release the report over the weekend and issued this statement, we considered making the report public earlier, but since we knew the attention it would garner exactly as we saw this week, there were fixes to the system we wanted to make now, the viral post in focus is an accurat

witherspoon is selling off a majority stake in her media business to a venture backed by blackstone julia boorstin spoke with her earlier about the deal and joins with us some highlights. hi, julia. >> i spoke with reese witherspoon and ceo sarah harden about the sale of their female-focused media company, for what sources tell me is $900 million. witherspoon saying selling to blackstone-backed company will enable them to sell their products, their series and tv shows, across platforms. >> we're just doubling down on our mission. now we have the ability to tell more stories, to hire more female filmmakers, to promote and lift up even more authors. i'm excited to get more involved in digital creators. and it is really -- it is fascinating to see how a company like this, that started just four years ago canreally resonate with audiences. >> a key advantage of the content model is they build direct connections with fans starting with books are published through reese's book club they develop those relationships with fans and develop the books into series and films and keep those relationships going u

julia boorstin is here with all the details. julia, what's the deal here?mon, it's another mega deal that speaks to the growing value of premium content particularly for streamers. now reese witherspoon's hello sunshine is selling to a new entertainment company that is backed by blackstone run by kevin mayer and tom staggs and backed by blackstone this female-focused company $900 million. a source close to the situation says they are buying out current investors including at&t reese witherspoon and hello sunshine ceo sarah harden will join the board of this new still unnamed company and will continue to run hello sunshine hello sunshine produces and sells female-driven content across platforms and has a strong record turning books into bestsellers and into hits such as "the morning show," "big little lies" and "little fires everywhere" on hulu. the price tag for the company speaks to the appeal of their female-focused content and the fact there just aren't that many independent studios left out there that can sell content across platforms as most studios ar

i'm carl quintanilla with jon fortt and deirdre bosa and julia boorstin a news update with rahel solomon. >> good morning, everyone. here is what is happening at this hour. new york city will require proof of vaccination for indoor activities applying to restaurants, bars, gyms, entertainment venues the new rules go into effect on august 16th. new york is the first major u.s. city to impose such restrictions >>> american automakers are bringing back mask mandates. the big three automakers and the united autoworkers union saying the wearing of masks will be required at all u.s. plants, offices and warehouses starting tomorrow >>> shares of clorox down 11%, worst daily loss in 20 years sales are disappointing and profits have fallen sharply from pandemic highs the company also says that manufacturing an logistic costs are rising. >>> and spirit airlines is canceling many flights again this morning nearly 300 flights, about 40% of spirit's schedule, so far today have been canceled the airline blaming weather and operational issues american airlines is facing similar issues it canceled 280 f

. >> in the meantime, netflix riding a seven hi day winning streak julia boorstin has a look at the strategy to flood the markets with the new films julia? >> netflix has 42 original movies debuts in the next four months, double the number of movies traditional studios would release. it's not necessarily strategic, but more the result of production delays due to the pained the crunch of original films showing some of the $17 billion netflix invests in content annually is now a test of the streamer's ability to deliver high quality at scale. these films are an opportunity to jump-start subscriber growth after that metric lagged the first half of the year the question is whether all this high-profile original content puts pressure on the other streamers, apple tv plus, hbomax, paramonth, peacock, these don't have near this number of films launching this fall also, it is worth noting there's also a backlog of big budget movies that will also hit theaters this fall many of the biggest releases like "top gun," "spider-man no way home" those have been delayed since last summer. >> looking forward

but the fundamentals donnell tell us much at this point media stocks rallies, and also from fox julia boorstin awful details. >> viacom, cbs and are you want. total streaming revenues from 92% as the company added better than expected 6.5 million streaming advertiser, and ad revenue more than doubled. the company also announcing a deal with "southpark." the company did not reveal fox nation subscieribers, and guggenheim upgraded fox shares to buy that bullish news on ads and streaming seemed to lift disney shares over 2% today, ahead of its earnings, which are due on thursday subscribers will be in focus guys, back over to you >> julia, thank you. >>> beyond meat with another very busy hours. kate rogers has a preview of that name. kate >> hey, sara, analysts are expecting a loss per share of 24 cents. the company two big forms of business will be in focus this quarter, retail expected to come in at food service at 38.2 million for the quarter. retail business made up about three quarters of the revenue in q1 restaurants and that form of business did see a slowdown. the ceo said last quarter i

i'm deirdre bosa with jon fortt and julia boorstin today getting crushed as growth continues to slow.

i'm deirdre bosa with jon fortt and julia boorstin carl is off this week. up nearly 40% this

a pop for wynn after hours >>> roku results also just out julia boorstin with those numbers. >> rokupite they beat on the top and bottom line. it's the reach of the company that's not growing as fast as expected active accounts at 55.1 million rather than the 55.7 million expected and streaming hours decreasing between the first and second quarter and coming in lower than expected. so a decrease of 1 billion hours from q1 to q2. that's the reason the stock is down over 7% when you look at the top and bottom line results, they did beat estimates earnings of 52 cents per share versus 13 estimated and revenues of $645 million surpassing the 618,000. also strong revenue guidance of 675 versus $646 million that's analyst consensus. they do took about in terms of guidance how varying rates of recovery from the pandemic continue to present an uncertain operating environment. so that, of course, weighing on the stock along with the slower than expected growth of active accounts sara >> julia, thanks so much >>> down about 6% or 7% after hours. don't miss our exclusive interview with roku's c

i'm carl quintanilla with jon fortt, deirdre bosa and julia boorstin a number of big funds cash out theirter yesterday's sudden rally we're going to go

about 65 almost up a dollar today >>> netflix is rolling out a huge lineup for movies in the fall julia boorstinars. i hope you'll give me a thumbs up or thumbs down on the movies or rate them somehow. >> joe, i vpt watched them yet this is what we'll be watching when we'll all more likely to be home this fall due to delta. that's what people are looking for now, what is going to happen with these movies? netflix announced a massive fall lineup, 42 original movies, ramping up its output. that number, 42, is more than double the movies that t traditional studios would release in one year. the sheer number of films is more than usual due to production delays amid a lighter release schedule the first half of the year and a test in netflix's ability to deliver high-quality, original content at scale it's also an opportunity to jump-start subscriber growth with big stars from michael keaton, to gal gadot, and idri elb among others other streaming services don't have anywhere near this number of original content launching this fall. questions of the impact of the delta variant we'll have to see if thi