julia boorstin on what to expect from meta and kate rogers. cameron, was this the last move by the fed, the last hike? >> as you heard from powell, it is still very data dependent which means if we get a hot inflation print some time in the next couple of months, it may not be the last hike but if the current trajectory in inflation continues, then, yes, it is the last hike. we don't think that the fed wants to take a victory lap on inflation just yet as steve liesman talked a bit today they've been so burned by calling disinflation too soon which means this will remain a market that's hypersensitive to incoming inflation data and probably hypersensitive to good data coming in from a growth perspective, we could still be in this good news for the economy is bad news for markets. >> well, what happens now to the rally? the market certainly doesn't seem to be upset by what it heard today, either the bond market and the stock market might suggest that this was the last one >> yeah, and what we've seen this year the fed hasn't mattered for markets

julia boorstin out for us in the market zone.n back to mike santoli as we approach the two-minute warning. got the yield at 380 the long end of the curve. >> it is they've taken the pressure off here more important than the level is the fact that credit has come in to high yield spreads and are back where they were in february what a corrector -- what the credit market has a crystal ball or not, it shows there's not a lot of stress buildup in the system in the immediate moment this die vergence is showing a little on the legacy challenge ford, the disneys, paramount, warners, at&t today. >> brutal day. >> all of the 19th and 20th century businesses they're at a tough spot. they have to figure out the secular and the cyclical and therefore, $10 trillion of market cap in the nasdaq seems like a refuge. they're getting expensive. maybe they get overlogged. but for now, the mechanics are keeping the overall market supported. >> as long as you continue to have questions about those, for legacy businesses, you will have money go to the

despite that subscriber growth beat expectations but maybe not on enough for investors to love it julia boorstin is here to discussion. >> hi, tyler amazing to see subscriber growth in the quarter 6 million new subscribers versus roughly 2 million subscribers expected three times subscriber growth anticipated and looking at a stronger than expected subscriber growth third quarter. notable, revenue missed expectations, revenue guidance missed expectations. and accompanying those two facts, average revenue user not growing fast as expected actually in decline as more people find out lower cost services >> hmm so what -- in some, the changes in the fee structure are one thing, but am i hearing you sort of inferentially saying that the era when netflix was sort of the number one among one is no longer in other words, now it is, may still be number one but a lot more folks nipping at its heels? >> well, yes definitely more companies than five years ago netflix realized, rather have more subscribers and that each locked into a subscription even if a lower-cost subscription, ran that are haven't people

but pitch the parent for a little bit. >> let us check in with julia boorstin. she is out in los angeles with an actor. take it away. >> reporter: i am here outside paramount. in addition to being an actor danny has a lot of taco stores in los angeles. you came here to support the actors. tell us what your perspective is on the strike. >> were asking for everyone to be fair. everything has gone up. not our wages. we are all not tom cruise. we have to support our money. wilson, call me. >> your leaving a message for the governor. what is your message? >> call me. >> reporter: how concerned you about artificial intelligence as well as treating revenue? >> let me tell you something, i am worried about regular intelligence. that means they can use our image or are -- whatever. residuals are slowing down. wait, give us a piece of that pie too. right now, nobody is working. this affects a lot of people. this affects every restaurant around here. this affects every gardener around here. my gardener is at my house right now. >> reporter: are you concerned about a.i. eit

julia boorstin joins us with the latest on hollywood's several issues julia?well, tyler, i'm here outside of paramount studios in hollywood and no sign of progress towards compromise from the studios or the actors guild on issues, including payments from streaming services as well as the use of a.i. and now sources are telling me this strike will be measured not in terms of months -- not in terms of weeks but in terms of months. with the impact of the writers strike estimated at $4 billion by the milken institute if the strike lasts 30 to 60 days, it will cost more if it lasts longer all of this comes as paramount's "mission: impossible" grossed $80 million in the u.s. and canada in the first five days in theaters that's about $10 million less than some optimistic industry projections. not only was it $300 million budget inflated by covid cost but production of the sequel was shut down because of these strikes. and while all of the media giants will be impacted paramount may be under more pressure than larger rivals because it does not have the diversification

of challenges that this business is already facing that is, quite frankly, very disruptive >> julia boorstin is joining us live from los angeles to talk about what this could mean, maybe for the stock. cranston was fired up, julia. >> he was fired up and i would say that his comments and iger's comments really illustrate how far apart the two sides really are. now, keep in mind that interview that bob iger did with our colleague, david faber, that was nearly two weeks ago now, and since then, which is when the actors' strike started, we have not seen the two sides come back to the negotiating table so from what i'm hearing, there's a lot of expectations here in hollywood that the strike could continue to drag on and one thing i have to point out, bryanian, as someone who follows this closely, when there were rumblings about what to expect, at the time people thought bob iger might be one to lead a compromise, and then after his comments and some of the reaction, now people may be disappointed that he's not the sort of conciliatory one and that the two sides really are still so far apart. >>

last september and wrapping up first season of "thursday night football e"on amazon joining us, julia boorstin with a "power lunch" exclusive interview with nfl commissioner roger goodell. welcome to you both. julia? >> thanks, kel pip commissioner goodell, thank you for joining us here in sun valley. >> thank you. >> we sat down here last year. the big question, where were you going to make a deal for "sunday ticket"? kelly mentioned, the deal went to alphabet and youtube, really a big shaft away from directv towards youtube. what are your expectations for the deal and for "sunday ticket" viewership now that you're be over there this fall >> i think firstly, for fans greater access for fans, a much broader universe we're thrilled with youtube tv and youtube and google that the technology, innovation, the desire to really use this to expand a number of platforms we think it's going about to trick product. we know it will be, and it is, it's a challenge when you're shifting platforms awareness. fans know where to get it and get them to make that move when no content up today won't be until sept

julia boorstin, it's not just u.s. and scan da box office.was big, global box office as well here. >> that's right. i have to say i'm going to update your numbers. the estimates for the weekend were originally $155 million for "barbie. they added $7 million because so many people came out to see the movie on a sunday night. this has been an unexpected and unusual phenomenon to have a double fee chaur this an estimated 200 million people bought tickets to see these two films as a double feature. certainly nothing that either film could have intended when they first conceived of these films years ago. really a confluence of a number of factors that shows interest 234 in getting back to theaters. you would hope there would be momentum behind this all the people saw trailers which means they might be encouraged to come back and go to the movies. >> how much did hollywood need this, julia? >> it needed it a lot. we look at the up summer box office period from may 1st to now. up until the past weekend the summer box office starting may 1st was down

julia boorstin has the details >> shares are up 144% year to date, bolstered by optimism today abouteads it's a new app that the social giant is getting ready to join out. threads was set to debut tomorrow, be you the countdown clock on threads says it's launching in just about an hour and 15 minutes threads is described as a tech space conversation app that appears to look a lot like twitter. it is designed to leverage instagram's popularity enabling users to quickly follow the same profiles they follow on instagram and to use their instagram handle to log in and create an account. analytics firm insider intelligence saying, quote, meta only needs roughly 1 in 4 instagram users to use threads monthly to make it as big as twitter. meta already has the scale, resources, and execution strategy to make that happen the launch of threads comes at a time when twitter is particularly vulnerable. on the heels of elon musk setting limits to the number of tweets people can read plus, there are questions about how many of twitter's users will opt into paying for the company's twitter blue subsc

mark douglas and julia boorstin. >>> that does it for us on the exchange today you can sign up for myon "power lunch," looking at the most oversold stocks in the s&p to see if they're fshlaing a buy signal jon fortt in for tyler today i'll join him on the other side of the break this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. >>> welcome to "power lunch" alongside kelly evans i'm jon fortt. coming up the nasdaq is about flat right now could be the fourth down day in a row or could break the negative streak. can tech stocks continue the rally as the fed is slowing the economy as a result. plus janet yellen wraps up her china trip with nothing productive is the prospects of more talks enough reason to be optimistic >> let's get a check on the markets where the dow is up 182, half a percent today, but th

it's not the only major report we're watching julia boorstin on netflix numbers out, as well mike santoli front and center, tesla, your thoughts >> the market is out on a perch when we're getting these numbers and it's the kind of stocks that have been mostly the recipients of the enthusiasm. so interesting test on how they'll be received and very interesting in a sense netfl netflix perceived to be a clean, fundamental story. the sell side only now migrating and how much do margins maybe go down and does it matter, frankly, because that stock sort of moves on its own fumes. >> their importance right now especially is what >> it's significant, i would say, to that class of stocks to be honest, i'm also looking at things like banks all of a sudden getting overbought even after they've had this nice rebound. so there's a lot of things that have been working together to keep this market calm and in this uptrend and extending this rally, and so we'll see if any of them fall away right here as i watch the volatility and it's again higher as the s&p goes up. so people are starting to wonder if

. >>> meantime, "techcheck" with julia boorstin starts right now. - [announcer] the following programent for the nuwave oxypure zero smart air purifier, sponsored by nuwave, llc. right now, in your home, you and your family are at risk of breathing in billions of tiny, dangerous particles and contaminants, tied to symptoms like allergies, sleep issues, trouble breathing, and chronic fatigue, and are linked to even more serious conditions, like asthma, heart disease, cancer, and even death. the epa warns that the air inside your home can be up to five times more contaminated than the air outside. in fact, studies show that even cooking one family dinner can expose you to contaminants equal to the most polluted city

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our julia boorstin with those details. julia? >>> that's right, frank.a is preparing to launch this new twitter alternative called threads, an offshoot of meta's instagram app. this new app set for release tomorrow is already in the app store with a countdown clock until its launch it's calling itself a text-based conversation app and threads appears to look a lot like twitter and will leverage popularity enabling users to quickly follow the same profiles on instagram and to use their pre-existing instagram handles the question for meta investors who seem bullish based on the gains today, is whether this new app can use instagram's reach to 2 billion plus users to quickly scale a new app to drive users and ad dollars through twitter and others if this works, this could create a new growth driver for the tech giant at a time when it's working to cut costs and is focusing on profitability. this past weekend elon musk set limits to tweets on top of concerns about content moderation as well as demand for new subscription twitter blue. it was news of this twi

musk is threatening legal action over the new social media platform the details from julia boorstin. julia? >> well, melissa, twitter's attorney wrote a letter to meta, threatening to sue, accusing it of stealing trade secrets to create a copy cat app of twitter in threads now, as the fast-growing threads from meta hit 30 million users overnight, there's no question it has drawn the attention of rival twitter. "twitter has serious concerns that meta has engaged in systematic, luflwill ufl, and ul misappropriation of twitter's trade secrets. accusing meta hiring twitter employees who had and still have access to twitter's trade secrets. andy stone responding on threats earlier, he posted a thread, saying, "no one on the threads engineering team is a former twitter employee that's just not a thing. i have reached out to twitter for comment and have not heard back yet and we have not gotten anymore detail on how meta expects to respond or plans to respond to this legal yquery. melissa? >> this is not a formal lawsuit, is it a formal anything at this point or is it just a, hey, be on noti

buy activision blizzard overcoming a major hurdle let's get to bobby kotick, sitting down with julia boorstinvalley for a first on cnbc exclusive. >> reporter: that's right, mike. we're so grateful to have bobby k optick we just got this ruling from the judge yesterday. a big move to clear the way before this deal to close. what is your response to the judge's rule yesterday >> i think the judge was very sensible, she was very deliberate, um, clearly understood the details of the case, the law, and made a judgment based on facts and law, and wasn't swayed by ideology. >> so this deal is still far from done, though. that was a big hurdle, but the ftc could still appeal before the deadline of friday night at midnight this appeal could come through anytime before then. they could request a stay on the deal what happens if the ftc does that >> i would be surprised if they waste taxpayer resources on something like that. the opinion was well written like i said, she's a very deliberate judge i can't imagine the ninth circuit would grant the stay you never know, but i would think it would be highly

efforts to delay the ability to move forward this follows comments from activision-blizzard ceo to julia boorstinyesterday where he said he would be surprised by any appeal >> i can't imagine the ninth circuit would grant the stay you never know i would think it would be highly unlikely and wouldn't be productive >> looking at shares of microsoft and activision-blizzard of the microsoft is up and activision down >> pippa, thank you. >>> more coming up on "worldwide exchange," and what the word of the day is and we talk about the bob extension. >>> later in the show, we ask our expert panel if the fed has done enough. we have buoua sy hr still ahead when "worldwide exchange" returns. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. take the first step to see if your small business qualifies. with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or r

. >>> back in hollywood, julia boorstin caught up with danny trejo to get his take on a.i. streaming. melissa lee described it as one of the most colorful interviews to grace the cnbc air waves. we are back after this >> i'm worried about regular intelligence now that means they can use our image or our for whatever. you know what i mean now residuals have gone down wait a minute. give us a piece of that pie, too. i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business? take the first step to see if your small business qualifies for the erc. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. >>> >>> welcome back to "worldwide exchange

we have julia boorstin with more >> reporter: expectation force the debut of "barbie" from mattel andner bros. has continue to rise the film is expected to bring in $100 million from the domestic debut which is more than "oppenheimer." "barbie" is getting positive reviews from rotten tomatoes is generated to bring in returns on $145 million budget. the actors strike is underway and "barbie" has the advantage with the big stars promoted the film before the shutdown and pulled stars off red carpets this could be the beginning of the wave of films based on mattel toys. mattel has a dozen other films in development >>> morgan stanley saying we believe that ramping film supply with healthy demand can drive box office to pre-pandemic levels overnight warner bros. discovery should benefit along with mattel. mattel reports on the 26th and warner bros. on august 3rd frank. >> thanks to julia for that. this could be an exciting weekend for movie lovers >>> straight ahead, shopping hours for light sensitive and amc. it backtracks on special seat pricing. we will have more on the top trending sto

to our julia boorstin with more. julia?reporter: frank, disney shares are down nearly 2%, and the stock is now down over 9% over the past 12 months. while the latest film "indiana jones" has grossed some $154 million in its first week of release, it's still falling short of high expectations after the film reportedly cost nearly $300 million to produce plus an estimated $100 million more to market so now it appears this will be the first time since 2014 disney won't have a single movie that reaches $1 billion at the box office this stands in sharp contrast to 2022 just last year three of disney's releases topped the key mark now still disney does have the largest market share of box office this year, an estimated 37% followed by universal with 31%. we'll have to see how the haunted mansion performs ceo bob eyeiger is likely seein how to approach it going forward. >> let's trade disney. amy, over to you what's your take on what we're seeing with disney what's your take on the stock and the company overall? we're talking the

officially launching its threads app, a direct challenge to twitter, and its declining ad revenue julia boorstint. good morning, julia. >> reporter: good morning, courtney threads is off to a fast start leveraging instagram's reach to quickly on board users mark zuckerberg announcing 10 million downloads in its first seven hours, key bank increasing meta's price target to $335 on the heels of threads launch, saying it appears to address twitter's challenges and could represent several billion of dollars in ad revenue, meaning u.s. and international adoption. but key bank does warn we believe this will be an immaterial contributor near term as meta focuses on adoption over monetization with an overweight rating they are raising their earnings system on meta's core ad products. meanwhile wells fargo with an equal weight rating, sees a 3% level at maturity, pointing to uncertainty aren't eu data privacy regulation as the cause of threads delayed launch in eu countries and meta needs to balance revenue opportunity with the potential for incremental regulatory and privacy scrutiny. now twitter despit

julia boorstin has been at the conference hi, julia. >> reporter: the conference kicked off with a panelh treasury secretary larry summers and right now, investors dreesen and peter teal are on-stage and talking about a.i. in fact, a half-dozen ceos have told me that a.i. is top of mind with open a.i. sam altman set to speak on friday. he told me the next it ration of chatgpt will be better, smarter and faster with new capabilities when it comes to the economy, ceos tell me they are seeing a robust consumer, though the advertising market is lagging. take a listen. >> the market is still weak. weak, relative to recent history. but stable doesn't seem to be getting worse. the change in the economy, a stable weakness and seems to be the tuned. >> reporter: for the ceos here, there is also concern about a potential actors' strike that could be called as soon as tonight. bob iger is here looking to sell disney's hot-start india business of course, there is speculation about whether iger will name one or both about his executives as his eventual successor >> big interview with him tomorrow mor

. >> julia boorstin, the dow, let's check the dow.t is still on a record breaking streak with your hearing, if you start having a little trouble, you're concerned that it's going to cost you money. to this day i only paid what i had to pay for the device... when i go back everything is covered. there's so much you're missing by not having hearing aids. we'll find you a hearing aid that fits your lifestyle and budget at one of our over fifteen hundred locations. call miracle ear at 1-800-miracle and schedule your free, no obligation hearing evaluation today. this is your moment. critics declare oppenheimer is magnificent. the new york times calls it staggering. it's utterly enthralling and one of the best movies of the century. what if buildings could tell you how they could be more efficient? i'm listening. well, with ibm, you can use software to help you connect and analyze data— from hvacs to elevators to lights. what if we use ai-driven insights to pinpoint inefficiency? yep. and act on it. saving energy, money... ... and emissions

. >> julia boorstin, thanks for joining us major averages are higher. i'll see everybody on "closing bell overtime. >> good to be with you >> you too >> thanks for watching close cl. >>> i'm brian sullivan in for scott walker this make-or-break hour begins with a win streak that just won't quit the dow on track for its 11th higher day in a row. that is the longest substreak in six years, and we are closing in on the all-time record of 13 higher days in a row for the dow set all the way back in the halcion days of 1987 here's your scorecard. the most important hour of the trading day i'm told, the last, the dow up about 0.5%. small caps didn't do anything to begin the year but slowly starting to perk colate up. our "talk of the tape. you have the fed decision on wednesday. you have a very busy earnings season can anything -- should all the bears, if there's any left, should they go in to hibernation? let's ask anastasia amoroso, i-cap's manager. >> good to see you >> dow 11 days what's happened? i don't understand what changed from two weeks ago >> that'

let's get to julia boorstin with a special guest. >> that's right.oined by evan spiegel the ceo of snap. evan, thanks so much for talking to us today on the heels of these results. evan, the stock is down nearly 19% and as leslie just pointed out, this is the fifth quarter in a row where we've seen your earnings followed by a double digit percentage decline what's your message to investors? >> hi, julia thanks so much for having me it has been a challenging period of time for our business coming after five years of 50% year over year revenue growth on average, the ukraine war and rising inflation some of the app privacy changes have had a real impact on our business and as a result we've taken our business through a transition to try to reaccelerate our top line revenue growth and we've done it by focussing in this three core areas. one on our lower funnel direct response advertising business and seeing real progress there lower funnel spend has grown year over year, a record number of active advertisers up 20% year over year we've seen purchase rela

results from that company will justify the enormous rally in its shares, up 134% year-to-date julia boorstin is with us and she's looking ahead to those earnings julia? >> investors are hoping meta will accelerate its revenue growth the social giant is struggling with the same ad market weakness that has weighed on snap shares, but meta has the advantage of scale and new revenue drivers. analysts are expecting the company to grow its revenue 8% in the quarter, that's accelerated from 3% revenue growth in the prior quarter. meanwhile, thanks to cost-cutting, earnings are expected to grow by 18.5%. now, there are some other key issues to watch. threads. while the app had a record-breaking launch, investors want to know if the app had held on to its users and what the plan is to convert that usage into ad dollars. relea reelz are expected to be a tail wind and investors will be looking for more insight into how ai is improving ad targeting and measurement. bernstein pointing to youtube's 4.4% advertising growth, writing, quote, in the wake of google's solid earnings report last night, i think w

julia boorstin is here with all the details. julia? >> netflix shares down over 4% in after-hours trading the revenue miss comes despite it adding about triple the number of two subscribers as expected, about six million. the company also guiding to higher than expected subscriber additions in the same range going forward, mainly thanks to the roll-out of page sharing all this comes despite the trend of lower than expected revenue per user, which is on track to continue the company does seem bullish on new initiatives, writing, quote, we expect that our revenue growth will accelerate more substantially in q4 '23 as we further monetize account sharing between households and steadily grow our revenue they say they are confident that over time they can develop a multibillion incremental revenue stream from ads. now the strike was only mentioned once as netflix updated its 2023 free cash flow estimate from at least $3.5 billion to $5 billion for the year, reflecting lower cash content spend due to the wga and sag-aftra strikes. now netflix

julia boorstin brings us more on this first off, what does this mean in effect for not only the bidendministration but other leaders in government? >> well, look, this is not a final ruling, but it definitely indicates where the judge is going with this. and it's very complicate i mean in the entirety of my very long career of covering social media platforms, we've seen this growing effort to combat misinformation and particularly to combat manipulation around elections. and if you go back through the years you've seen meta formerly called facebook implement all these different ways they can help prevent the spread of misinformation and worked closely with not just the u.s. government but other governments around the world to make sure untruths were not being spread so the judge's concern is that if the biden administration were to communicate with social media platforms, that would be tantamount to censorship, and they want to avoid censorship, but i think there's a very important role to be played in terms of having a clear communication between government organizations and social m

we're headed back to sun valley, idaho, where julia boorstin is sitting down with a special guest. >> thank you so much, melissa. i'm joined now by reid hoffman, co-founder of linkedin many years ago, body member at microsoft, a founding partner at gray lock, and among many other things, a cofunder of inflection.ai, a big new startup in that space, in the a.i. space. i want to start off with a conversation here in sun valley. i've talked to so many ceos who say a.i. is at the center of every single conversation, but the future of their businesses my question for you is, is there a lot of fear about a.i. eliminating jobs or about driving efficiency what role do you see a.i. as playing in this new comeconomy? >> so, the way i frame a.i. is to think about it as the new industrial revolution. the cognitive industrial revolution the steam engines of the mind. and that by the way is both glorious and concerning. glorious, because all the productivity we have, the industrial revolution, the wealth, the prosperity, all the institutions, construction, transport, et cetera, all comes from th

. >>> let's go to julia boorstin now sitting down with joey levin. >> thank you so much, melissa.y, thank you for joining us kicking off the sun valley conference with this interview we really appreciate it. >> my wpleasure >> we know that a.i. is going to be a huge focus. we saw sam altman coming in. there's going to be panels your chair, has taken out agait a.i., saying it is bad for publishers talk to us about your perspective on a.i. and what it means for your business. >> yeah, there's lots of great things that are going to happen with a.i one of them is not a positive impact on journalism, at least now today, the way they're presenting information when you look at these interfaces, search was originally designed to find the best of the internet, and these llms or gai are designed to steal the best of the internet they have to make the ui work in a way that rewards content creators, rewards journalism, and rewards people who exist on the open internet. >> there's been some talk about the potential to be part of a coalition of publishers to fight this impact of a.i. and try to

julia boorstin has more on the advertising industry as we get more tweets from linda yaccarino. >> just pointing out the long-term established value of twitter. meanwhile, instagram chief said that right now they're not focused on monetizing threads until they get to scale. but the business model will be ads over the long run. i've been talking to some senior advertising industry executives this morning one senior source in the industry told me that his contacts in the ad industry are salivating he told me that he sees pent-up demand for alternatives to twitter, especially after elon musk limited how many tweets and ads users would be able to see just this past weekend i also spoke to the president and coo of maa global, a marketing trade association. he told me while he expects threads to be a long-term threat to twitter, that it's not a short-term threat because threads is not accepting advertising in the near term he said this gives linda yaccarino time to get her house in order over at twitter and also to get her owner, elon musk, reined in. that was the term he used. also pointing

julia boorstin for us. thank you, appreciate it. >>> that does it for us today, everybody. tune into "chris jansing reports" every weekday at 1:00 to 3:00, our coverage continues right now with "katy tur reports." >>> good to be with you. i'm katy tur. donald trump's personal aide and valet was finally arraigned today after he finally secured a local lawyer. walt nauta pleaded not guilty to the charges related to alleged mishandling of classified documents, and on that specific subject we have news. as promised yesterday, more of the affidavit to search mar-a-lago was unsealed. in it, new details about what walt nauta did along with hints about what prosecutors knew and when they knew it. we'll explain that in a moment. we have updates in the other special counsel's investigation. jack smith issuing more subpoenas in the january 6th investigation. this time, focusing on arizona. so let's get to it. joining me now is nbc news investigative correspondent, tom winter and nbc news justice reporter, ryan reilly. let's start with the top. walt nauta, finally getting a lawyer. fin

julia boorstin for us. thank you, appreciate it. >>> that does it for us today, everybody.o 3:00, our coverage continues right now with "katy tur reports." >>> good to be with you. i'm katy tur. donald trump's personal aide and valet was finally arraigned today after he finally secured a local lawyer. walt nauta pleaded not guilty to the charges related to alleged mishandling of classified documents, and on that specific subject we have news. as promised yesterday, more of the affidavit to search mar-a-lago was unsealed. in it, new details about what walt nauta did along with hints about what prosecutors knew and when they knew it. we'll explain that in a

julia boorstin reporting there kristina partsinevelos, we turn our attention to fintech next week applelk some interesting companies reporting too, talk us to. >> a run up in a lot of fintech names at the moment on the notion there will be refinancing for student loans. let's talk about sofi. earnings are out next monday investigators expecting deposits and loan growth across the board. jpmorgan believes increasing in student loan refinancing might be an exaggerated benefit. secondly, they are worried about loan write-offs since they have been growing since last year lastly, treasury yields vin countriesed. sofi's fair value discount rate goes up resulting in an limited you adjustment the stock has doubled year to date it's up 106% paypal, the main how is competition. especially as apple pay game's market share, the closest rival is block, which operates payment processor square you can see the difference between paypal and block year to date paypal up, what, 3%, a little over 3%, versus block 25%. block's earnings out nicks wednesday. barclays is suggesting the lower hiring trends will

julia boorstin listening in and has the details. >> well, meta shares up 5% after beating expectations across the board. reporting 11% revenue growth that number is key, because analysts expected 8%, and last quarter, the revenue growth was just 3%. now, further this growth story, the company guided to better than axct expected accelerating revenue growth in the third quarter. i spoke to susan lee, who told mel that these results reflect solid execution across meta's family of apps, also better monthization of reels. the company did raise its 2023 expense guidance, due in part to a legal charge, but lee telling me in this year of efficiency, they've made very good progress on the company's cost structure, but there are a number of factors that will drive expenses higher in 2024 including higher infrastructure costs, growth and payroll expe exp expenses, as hthey hire technica roles, and the metaverse they are expecting losses increase due to ongoing product development efforts in augmented reality and virtual reality. we'll be listening for more on this from mark zuckerberg on the call

the fact you can plug in to the existing infrastructure of instagram gives an advantage here >> julia boorstinosed out the best half in 40 years. will the rally carry through for the rest of the year our next guest says there's growth potential even if there is a recession let's bring in joanne feeney with her best picks. why do you think there's growth potential? >> it's because the broader economy is constrained by fears of whether the consumer is going to suffer if there's a rise in unemployment these tech companies, particularly the ones that took off in the first half, the superseven as we call them from microsofts down to meta have taken off on longer-term drivers beyond any recession dynamics. the reason for that, we have the new generative a.i. creating possibilities for new apps but also we need the infrastructure, the data centers or chips that power them to enable the new apps that's real, tangible, growth happening for many years and investors are recognizing they can own these companies that are going to see significant sales in earnings growth for five or ten more years. >> given

let's get to julia boorstin with the numbers and the reaction. >> it's been a roller coaster.e down 12% on lower than expected revenue along with lower than expected full-year revenue guidance the company's net loss also widened by more than double the year earlier loss. now, all of this comes after the stock initially spiked on better than expected user growth. it's highest second quarter additions in the company's history. spotify reported 550 million monthly active users, up 27% year over year and far ahead of the 529 million estimated and also ahead of its own forecast the company also reported 220 million paid subscribers, up 17% from a year ago. now, all of this comes after yesterday the company announced plans to increase premium subscription price by as much as 20%. ceo saying on the call that the price hikes won't impact revenue peruser in the third quarter very much, but they are expecting a more meaningful impact in the fourth quarter bernstein sales desk with a note saying the additional premium subscribers seems, quote, skimpy, writing, i'm guessing they are worri

i don't know if we have anything from the interview he did with julia boorstin right here.ou know, it's still somewhat unclear exactly what's going on in the uk in terms of, as i reported on tuesday, this small and discreet divestiture that microsoft, at least, offered potentially as a way to try to get the deal past the objections of regulators in the uk. that process itself has been so hard to fully understand, at least for those of us who aren't as familiar with it, i think and by the way, the cma hasn't been around that long. so, you know, they're still in front of the appeals, but that has been postponed now it's a tribunal, all of which is to say, jim, you know, there's still this expectation that you may see microsoft potentially try to close the deal very soon, either with the cma on board or with the prospect that it would be soon and therefore can sort of close it anyway, because they don't want to have to renegotiate with bobby koet cohen- kotick, which is going to cost them a lot more money. kotick with julia did not really discuss that part of it, but that's a

surpassing all expectations over the weekend with what has become a record breaking debut let's get to julia boorstinimplications here. >> absolutely. well it was an unlikely pairing of a bright pink comedic barbie and christopher nolan's drama piedmont, pie oppenheimer, the highest movie attendance and revenue we've seen since 2019. both films driving the weekend's box office up 22% from the same weekend last year. this weekend brings the summer box office period from down 7% to up 1% according to com score. this is the big win for warner brothers discovery and mattel. "barbie" grossed $155 million, more than heightened expectations that bolster's mattel's plans to produce more than a dozen more films based on the toys and delivers warner brothers the eighth biggest opening weekend ever "oppenheimer," universal is the sister company, that film grosds $80.5 million, a number considered far out of reach for an r-rated drama that runs three hours long both benefitted not just from rave audience and critic reviews but each other more than 200,000 people bought tickets to both of these movies for a doubl

. >>> as we enter the second half of the year, the media business is facing big challenges julia boorstinlooming and a worse than expected debut for disney's indiana jonas sequel, all the media companies are indeed facing big challenges in the second half of this year. first, there's the question of whether the screen actors guild does end up striking after friday night the guild and studios agreed to extend their deadline to the 12th there's also the question of how long the writers strike drags out. second, the box office after "indiana jones and the dial of destiny" debuted with a $60 million box office debut, that was shy of expectations, so now there are growing concerns that it will be very tough for the summer box office to rebound to pre-pandemic levels and third, there's the advertising market moffett nathan warning, "we are growing increasingly skeptical of improving tv advertising trends in the second half of 2023 especially for companies without sports heavy offerings." and finally, there's streaming the media giants are hoping new content bundles, along with ad-supported opti

julia boorstin joins us. >> i'm join by casey wasserman your group spans music, sports but you really you see the streaming business going and do you think we'll see all of the sport really just be direct to consumer and off of linear television >> you are certainly seeing the slow decline of linear cable and linear television and you're at the bottom of the cycle where you'll start to head in an area where there will be a rebundling people like to watch sports live as a media company, once you have those rights, no ones can have them and the audience is quite predictable. whether you rely on advertising or direct-to-consumer revenue, sports will sit at the tom of the chain. >> you represent about 15% of n nba players. >> the nba is the last big rights for some time i think the nba will have a significantly expanded rights deal the disintegration of the regional sports networks will provide more opportunity for its partners the deals don't end until the end of the '25 season. and for us as representing talent, they are gross revenue participants as revenues and value increase, athlete