directly to consumers. >> it's pretty fascinating, iger is in peak politician mode at the moment julia boorstin disney do not miss steve boorstin on closing bell overtime. >> ahead, the ceo of duo lingo ahead. the stock now up more than 100% so far this year we'll talk to the ceo next somebody would ask her something and she would just walk right past them. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything. call 1-800-miracle and schedule your free hearing evaluation today. i remember being on aau trips, high school games. my mom would always say, "you need to fuel the body and you need salt." i would always be the kid not cramping, ready to go. fast forward 20 years and i go from eating salt out of my palm to drinking lmnt. >>> for today's tech check, we're talking to one of the biggest earnings movers

impact on tech and media companies is the subject of today's "techcheck" segment with our own julia boorstin in los angeles. julia, light at the end of the tunnel >> light at the end of the tunnel because today the writers guild and amtpt are restarting official negotiations. these are the first official negotiations since the strike started back on may 2nd. both sides are feeling the pressure now that the strike has lasted longer than the 100-day writers guild strike that was 15 years ago. the wda writing to members yesterday, quote, our committee returns to the bargaining table ready to make a fair deal knowing the unified wga membership stands behind us and buoyed by the ongoing support of our union allies this strike has already cost the california economy an estimated $3 billion with more impact in atlanta and the other markets that have a big production base. the industry is seeing growing impact from the writers strike the emmys were delayed the broadcasters are bracing for a fall tv season with a derth of content and movie studios are considering moving more films from the fall to sp

julia boorstin. it's brilliant. >> brilliant. think about this, right? old us, 3 million americans went and saw the show and they paid through the nose for it. it's only going to be in theaters and release it on video and then as an album. you have think about the cadence of it, it's genius. and the kid's price, $13.13. you know why 13? a big swifty number. >> like the number, 1989 -- >> first album went gold in 13 weeks. >> 1989 -- you know what that refers to. i don't. i didn't know until five minutes ago. but now i know. i'm good now. >> her birth year. >> yeah. >> girl boss. you should get her on your pod, how she does it. >> okay. okay. we'll reach out to her. >> you don't have to, she's watching right now. come on. >> huge fan of the show. >> it's brilliant, i mean, to take something that's already been -- already happened, right, and to just -- >> at a time when there's new content coming to movie theaters. >> it's brilliant. that's the -- that is taylor's super power -- >> is she not standing with the writers and actors by doing this? >> oh. >> sh

julia boorstin >>> last chance to weigh in on our question of the day.he question of the moment are you tempted to buy nvidia before no, itonight's earnings report head to cnbcclosingbell. the results are after this break. >>> the results of our question of the day, are you tempted to buy nvidia before tonight's earnings report. the majority of you said nope. i'll just wait and see what happens. see what happens in overtime is there a score of the vote was it close we don't have one today. all right. you take my word for it. no is the answer there's the countdown to the results. fu minutes and 15 seconds. a ll rundown of everything you need to watch for when we take you inside the market zone next. ♪ it's raising capital to help companies change the world. ♪ opportunity is making the dream of home ownership a reality. ♪ ...and driving the world forward to a greener energy future. [applause] sometimes the only thing standing between you and opportunity is someone who can make the connection. at ice, we connect people to opportunity. from big cities, to sm

julia, thank you julia boorstin those espn assets looking really valuable, tim.ell, it's amazing how espn was seen as a catalyst possibly to disney stock, if it was a spin-off or what not it's amazing what's going on with mls and you think things are great for messi, how about david beckham and the move he made to move and take a leading ownership stake in this franchise, before people knew soccer was a sport in this country. i'm joking, but it's extraordinary. you have to give him a lot of credit for the influence he's made on the sport. >> looking at me about soccer? >> you always have things to say about soccer >> he says people -- in the '70s, when i was a young lad -- >> pele? >> cosmos, you couldn't get in the meadowlands. i can rattle off names with the best of them carlos alberto on the back line. >> sorry, mel. >> so -- sorry, that's my bad. i would say that if you think about what apple had to do to get access to this, and what it means for apple plus, and you think about the title they have, the shows, the movies, a lot of folks have just made the poin

julia boorstin has been listening in on the call what's the latest? >> reporter: well, as you mentioned, melissa, disney has adjusted earnings were a big beat, as the company has made progress with cost-cutting this is something that bob iger has been stressing on the call, saying that disney is on tract to exceed its initial goal of $5.5 billion in savings and improved direct to consumer operating income by $1 billion over three quarters. this particular quarter, streaming losses were far less than anticipated on the call just now, iger announcing that ad-supported disney+, 3.3 million subscribers, saying he's very optimistic about the long-term potential of advertising in these streaming services with that, iger announced they are expanding ad-supported disney+ more internationally, they are going to be launching a new combo of ad-free disney+ with an ad-free hulu in september for $20 and perhaps most important, they are hiking prices of the ad-free streamening app, in particular, disney+ is going to $14 from $11, hulu to $18 from $15. the ad-suppor

for the cnbc news update >>> that's right i'm julia boorstin here is your news update at this hour howiciary committee chairman jim joshd an issuing a subpoena to citibank. he wants to know whether the bank turned over to law enforcement any information about customer transactions in the days surrounding january 6th. a source familiar with the investigation says several other big banks voluntarily complied but citi did not hawaii's governor is vowing to protect landowners in maui from being victimized governor josh green saying he will announce moratorium tomorrow, one which would put a long-term ban on the sale of land that does not benefit local people he says he is going ahead despite the potential for legal challenges >>> a small team of tree experts working every day in lahaina to help save the 150-year-old banyan tree. the state's lead arborist says he sees good indications from the tree and will know more in three to six months. but he says ultimately is a tree is a tree and the focus should be on all the people of lahaina. tyler, back to you >> all right, julia. thank you very

hire again after elon musk cut the number of employees from around 8,000 to over 1,000 now our julia boorstinoins us now to discuss julia, i guess my question is, linda yaccarino went in there with her advertising backgrounds. has she captured the market already or too soon to say >> i mean, look. we don't have data on what's going going on in the organization the fact she shared close to break even indicates profit up and progress talked a lot how their working on things obviously big kearns with advertisers and what she laid out was a vision of, i would use her word here "freedom of speech, know free." loll not awful enable a free speech platform and create an environment that is very safe for brands. that's been a big priority for her, steve sounds like making progress and bringing more brands back on the platform, but mostly, to me, fascinating to see how this company will fit into a broader company with payments, video calls and going beyond just being a platform nor communication. >> what do we know about users and usage, julia i keep seeing tweets out there from opponents or critics of

conductor nbc important com f fomally sweater, and swooel, and that is, of course, the former twitter julia boorstin is here with that. hi, julia. >> hi, mike. new advertisers for brand spacing and expanding its partnership with integral ad science which is a third party that helps give his advertiser they will have a study so brands can be relaxed, standard and conservative preferences around content. they're also bolstering for appearing on users' timeliness it follows that hate speech and offensive content have increaseded on the platform since elon musk took over. musk and x sued the center for countering digital hate. they failed to take action against subscribers who post offensive content. now the question is whether the ceo needs to reassure and bring back advertisers after musk has repeatedly declared his commitment to unfettered free speech it is always about that background here. free speech versus removing hate speech. >> and giving advertisers more control over targeting ord or jens and thank you, julia, very much don't miss ex ceo lindy akarino. >>> let's get a check of top stocks to w

julia boorstin is with us with more hi, julia. >> hey, morgan, apple's ten-year $2.5 billion rights deal with major league soccer has been a huge win thanks in no part to lionel messi moving to inter miami. this weekend he scored helping his team beat the new york red bulls. the inter miami's team owner tweeted less than a month after messi joined that mls season subscribers had more than doubled. messi is an ambassador both for the league and for apple's tv plus season pass subscription. $39 a season for apple tv plus subscribers. now, he is invested in this deal he earns a share of mls season pass revenue not only could messi help attract and retain subscribers to apple tv plus, but apple is producing a new messi docuseries which could jump start a sports doc series tim cook saying in the earnings call saying, quote, we are beating our expectations in terms of subscribers and the fact that messi went to inter miami helped us out there a bit. on the heels of the mls season pass growth, wedbush is projecting the shoe that fits for apple is the golden espn assets, which potentially may be

>>> disney definitely in focus with today's "techcheck" with a crackdown on password sharings julia boorstiny, julia >> well, carl, bob iger laid out a new plan to make streaming a key growth driver for disney and part of that streaming plan includes a new focus on ad-supported streaming iger saying disney plus's adds has 3.3 million subscribers. he also price hiked the ads-free version of hulu/disney plus to drive consumers to get the dual version. disney is raising prices to $14 from $11 and hulu to $18 from $15. while ad-supported disney plus and hulu plus, those prices will stay unchanged he's talking about cracking down on password sharing as yet another way to make money from streaming. iger saying they have the tools in place and a plan to drive out monetization of account sharing next year. he acknowledged he's taking a page from netflix and praised netflix's strategy. >> our streaming business is still actually very young. in fact, it's not even four years old. it launched in november of 2019. and we love to have the margins netflix has. they accomplished those margins over substant

earnings are in focus, showing progress in streaming, putting pressure on disney to deliver tomorrow julia boorstintreamers today for "techcheck." hey, julia >> hey, carl that's right paramount shares were higher now they're lower despite beating expectations and showing progress towards profitability of the media giant's streaming business now, paramount plus' losses declining from the prior quarter, coming in much lower than anticipated while streaming revenue beat expectations. there are a couple of key things here that position paramount for more streaming progress. the company hopes to increase its average revenue peruser by more than 20%. ceo says he sees potential in partnering with other media companies to bundle their streaming services he also said the strike will significantly boost free cash flow even more than anticipated. paramount's beat raises the bar for disney in the past year disney shares have underperforming netflix, comcast and warner bros. discovery. now for disney, they're facing some industry wide challenges in ad contraction, pressure to cut streaming costs as well as the

i'm carl quintanilla with julia boorstin and mike santoli. david and sara have the morning off.lls trying to find legs here, yields are making it difficult s&p down another 15, lot of data on tap today along with mega cap earnings after the bell. >> and we're 30 minutes into the trading session. here are three big movers we're watching qualcomm, one of the biggest laggards on the s&p this morning, the chipmaker under pressure on disappointing sales and guidance as they see a slower recovery across markets shares have under performed on the year they are down 10%. sales topping estimates that company did warn of potential weakness in 2024 when it comes to the consumer. those shares up 10%. and keep an eye on expedia, slumping after gross bookings came in below expectations for the quarter down about 13% right now. >> let's get some factory orders and ism services rick santelli has got it rick >> yes carl, there's surprises here factory orders for the month of june, these aren't final these are new reads on factory orders expected to be up 2.3% and it is up 2.3%. that is the best

new data pointing to paiftal moment in the streaming wars julia boorstin's got all the details. julia? >> melissa, this summer marks a key tipping point for the entertainment industry for the very first time, linear tv viewership fell below half of all tv usage in july that's according to a new report from nielsen so, that 23 billion viewing minutes number you referenced, that was viewing of suits on netflix and peacock and bluey on disney+. the success of decade-old "suits" speaks to netflix's ability to mine old content and turn it into a big new hit the unique strength of youtube and netflix as particularly notew noteworthy these two industry leaders combined for nearly as much viewing as total broadcast television they also accounted for 70% of streaming industry growth in the month. so, now the strength of streaming growth will be threatened by rising prices. it's what i'm calling stream-flation the top six will cost $87 this fall that's up from $73 a year ago. so, we'll have to see if consumers opt for lower cost ad-supported options or if they start to drop some of these s

i'm carl quintanilla with julia boorstin this morning an earnings triple play draftking soars as it hikes its outlook. microchip down warning of international headwinds and striker gaining double digits. all three ceos with us. >>> today is all about a & a, apple and amazon on the back of earnings we'll have a breakdown. >>> nonfarm payrolls revised lower for the sixth straight month suggesting the slowdown may finally be here. is the fed finally getting what it wants >> first a check on the market the bulls with strong earnings from amazon. the dow near session highs, up nearly 200 points and a release in yields as they pull back from recent highs. >> interesting here. ten-year, we were talking about 24 hours ago at 4.2, today closer to 4.1, which is good news the wage growth in there was a touch hot, but you take into account the work week actually shrunk and the total payout was lower than expected. >> and our bob pisani was talking about this as a g goldilocks number. >> looking for inflation data in the coming days. meantime with payrolls missing expectations, the u.s. economy did ad

julia boorstin has been crunching the numbers of where consumers are still willing to shell out big bucksn't know, where they are cutting back as well. >> there is definitely fun-flation and definitely higher than the 3.2% cpi reported in july. resale tickets have seen the biggest sleep. average jumped 27% from 2022 and 95% from pre-pandemic levels according to see the geek. but thanks to the draw of taylor swift and beyonce, people are paying up and turning out in droves. 90 mlillion tickets sold would e a record. and while disney fans are feeling the pinch in single day park tickets, disney notes that that is just a 4.5% compound increase. that is in line with inflation. and they also note that the lowest ticket price for the least crowded days has stayed the same. now, shifting over to movies, their ticket prices have increased 4% from last year and 18% from pre-pandemic levels. while streaming is getting a lot more expensive. in the past year, all the major streaming services have raised their prices by between $1 and $3 a month. add free disney plus going to be increasing prices by 2

julia boorstin has that for us. >> thank you northwestern university tapped loretta lynch to lead anon into hazing, bullying and discrimination in its athletic program leading to the firing of head coach pat fitzgerald since then northwestern has been named in several more lawsuits over hazing. >>> federal safety regulators investigating reports some teslas are losing control of steering the national highway traffic safety administration opened the probe of tesla models 3 and ys after receiving a dozen complaints one owner said the steering wheel got struck, the car slid off the road and crashed into a tree. >>> incandescent light bulb has died starting today, the biden administration will only allow l.e.d. bulbs to be sold in the u.s. it will bring $3 billion in annual savings to utility bills. >>> up next, how to play apple ahead of results later in the week numerous firms hiked their price targets. >>> a downgrade for estee lauder helping businesses both large and small, communities and the people who live and work there grow and thrive. we're proud to call these places home too.

julia boorstin joins us.. >> amazon early talks with disney about working on streaming version of espn that company has in, works making minority stake. amazon and disney told us, no comment on this report. the idea here that amazon which has rights to nfl's "thursday night football" package to help espn grow subscriber growth inevitably launch information reporting that the streaming service could cost as much as between $20 ands $35 a month. this after disney's ceo bob iger told cnbc in july the company was looking for a strategic partner for espn and we have reported that espn has talked to the leagues, the nba, the nfl, the mlb and nhl about potentially being those partners. espn chief told me last month they are rested in partners that can "make the flagship product for compelling in terms of distribution, technology, marketing and content." amazon prime video has advantage of an already massive viewership base. ann amazon prime viewers, 157 million in the u.s. behind netflix with 172 million according t

i'm carl quintanilla with julia boorstin today expedia's chief peter kern will join us in a few moments. a krnks exclusive as that stock is getting flipped after earnings. >>> banana boat with results out and the ceo coming up. >>> morgan stanley's wealth management on reasons to get bearish quickly in this market. >>> stocks are extending yesterday's drop as the yields rise, the s&p and nasdaq are now on pace for their worst week since march. >> interesting action in bonds as the ten gets back to 4.2. weird. today we got decent productivity data, labor costs were okay, and then prices paid on the ism back to the highest levels since april. so the market's sussing out what is the inflation trend right now. >> watching that inflation trend and that commentary we got from warren buffett and his confidence in treasuries and the fact he's going to keep buying is just a question of which treasury >> right and then, of course, a slew of corporate results. we talked media last hour with warner bros. discovery all eyes are on apple and amazon and their commentary about the back drop. >> i think

thank you very much, julia boorstin >>> still to come, we will get you ready for jackson hole next weektold me i wouldn't qualify for the erc tax refund, so i called innovation refunds. their team of independent tax attorneys will work with your cpa to determine if your company is eligible. [whip sound] take the first step to see if your small business qualifies. ♪ ♪ >>> big week of fed talk ahead what are investors watching out for out in jackson hole? here to discuss is our own steve liesman. steve, all cio of fed rated hermes and one of the biggest bulls on the street. let me begin with you, steve we did this yesterday, didn't we we had two steves on at the same time steve oth, welcome you are bullish. you say don't worry about the student loan repayment issue, it is not that big to begin with and consumer finances and debt loads are pretty good. >> yeah, i mean the consumer debt service is 2 points of gdp to the other i always say time is on the side of the bulls in the time we've been worrying about this, job growth has been 1.6 million people, wages have gone up, cola, security, i

joining us to break it all down is julia boorstin.-mo but interesting note. >> they do prefer t-mobile to verizon and at&t but they are upgrading both to a buy. i think what's interesting here is this commentary about a stabilizing competitive landscape. for so long, all of these telcos were in price wars. as one lowered the prices, the other felt pressure to as well. there was a lot of churn, a lot of movement of consumers between these different players. what this analyst note is saying now, because these price wars have stabilized, because there isn't as much movement going on, they are seeing lower levels of churn, which is obviously helpful to maintain that subscriber base for a longer period of time. another thing i want to point out is they talk about uncertainty around these -- the lead exposure and litigation. they say positive litigation outcome, so that would mean anything from minimal to just managed remediation of these above-ground lead pipes would mean that verizon and t-mobile could recover at least a third of the rece

standoff between the writers guild and studios as both sides head back to the table today je juli julia boorstinng the last strike started. and the statement says: all of this comes as the strike has already cost the california economy an estimated $3 billion. that's according to the professor of entertainment industry management at cal state northridge and there are other markets that have a big production base just this week the emmys announced they are delaying the show until january and the number of studios are considering delaying more releases from the fall to the spring because they won't have the benefit of actors to promote their film on wednesday bob iger struck a more conciliatory tone than last month. take a difference. >> i have deep respect for all of those responsible for the engine that drives this company and this industry. it is my further hope that we further find solutions to the issues that have kept us apart the over the last two months >> we'll see if that puts pressure on the screen actors guild. andrew >> so even if a deal gets struck, how long does it take just from a

moments, and oppenheimer is sharing to be top takeaways and we're watching two earnings releases, julia boorstinf pinterest and kate rodgers on what to expect from starbucks. lori, taking a pause in the market, very benign decline in the s&p. it seems like we're at a now-what moment, people have embraced the soft landing scenario pretty wholeheartedly at this point. it's time to ask, have people gotten overoptimistic? what does your work tell you >> thanks for having me on, as always i think if you looked at the results of the poll you highlighted earlier, it does point to a lot of enthusiasm in the market i agree with your earlier guests who said with the clients everyone is cranky and not feeling all that great when we look at the aaia data, which is more of the retail side, it looks like sentiment is getting extended it's not at the hold your nose and sell, but it's getting close to it. my work says there's a little more room, my valuation model tells us the bull case on the market is 4700 to 4800, but that is really at cross purposes with what we're seeing from the sentiment side so i think

julia boorstin here with the very latest on the grid lock in tinseltown hi, julia. >> well, tyler, there were hopes that the talks that were happening last week would yield progress, but now, here we are, we are back to grid lock now, last night, the wga met with the amptp's president, along with disney's bob iger, warner brothers discovery, universal, and netflix now, those talks did not go well, and then, the amptp we leased its latest proposal publicly effectively, appealing directly to the writers to put pressure on their leadership to accept the offer. now, the offer includes what the studios say is the highest wage increase in more than three decades, what they call landmark protections against a.i., as well as increased transparency about streaming data, which then can be used to figure out more fair compensation around streaming. the wga criticized the offer, writing to their members, quote, this wasn't a meeting to make a deal this was a meeting to get us to cave now, as picketing continues today, the question is whether both sides can reach a deal that restarts production in ti

julia boorstin has the story. >>> call it entertain-flation or fun-flation but it's higher than in july. concert prices have seen the biggest leap. the resell price jumped 27% from last year, and up 95% from prepandemic levels according to seat geek. thanks to taylor swift and beyonce, people are still paying up and turning out in droves. live nation reporting that ticket sales are on tract to surge 20% to 90 million sold this year, that would be a record. while disney fans may feel pinched by a $30 increase in walt disneyworld single day ticket prices, disney notes that that's a 4.5% compound interest rate,line with inflation, their lowest ticket price has actually stayed the same since 2019. >>> shifting over to the movies, ticket prices have increased 4% and 18% from prepandemic levels. streaming is getting a lot more expensive. all of the major streaming services have raised prices by between $1 and $3 a month. so ad-free disney plus is increasing prices by 27% in october. a variety survey found a quarter of adults say they have already made changes to their entertainment subscripti

let's look at the advertising market both online and in stores julia boorstin looking at digital ads.lyssa here with details of a new plan walmart is rolling out. let's start with you, melissa. walmart has between online and its stores a huge, captive audience to advertise to >> they are ramping up their advertising business and that will change the way shoppers notice things in stores. think of places like self checkout screens or the overhead radio that plays in walmart will have 30-second spots that advertisers can buy and things that are also pretty popular with customers typically, sampling stations will be more prominent. walmart is trying to incorporate more qr codes that allows people to pick up more information about that product, like bag of chips or beverage. >> are they going to have video screens also in their stores >> yes. >> in other words, they are having their customer -- their clients, their merchandise sellers, they're charging them to advertise in their stores, right? >> exactly it's not exactly new if you think about it, every end of the aisle has always been an

. >> julia, thanks great to see you as always julia boorstin. >>> shares of discover financial sinking the ceo is stepping down immediately. now be a time to buy it on the dip? we will trade discover and other moves of the day and our famous three stock lunch. "power lunch" will be right back ♪i'm hearing different ways for me to screen for colon cancer.♪ ♪it's time to use my voice,♪ ♪i've got a choice, more than one answer.♪ ♪i sat down with my doc.♪ we had a talk. ♪knew just what to say.♪ ♪i asked for cologuard and did it my way.♪ cologuard is a one-of-a kind way to screen for colon cancer that's effective and non-invasive. it's for people 45 plus at average risk, not high risk. false positive and negative results may occur. ask your provider for cologuard. ♪i did it my way!♪ >>> it's time for today's three-stock lunch. first up, dr horton shares higher today in addition to other home builders after warren buffett's berkshire hathaway revealed its position in the stock, betting on the u.s. housing market dr horton up 40% last year was a nasty year for the home builders. today with ou

julia boorstin joins us now with the latest want to hear all the details of this one, julia, and whatan for the fall tv line-up or lack thereof. >> well, the ship has sailed for the fall teeb season we had expect lots of reality tv and sports rather than new scripted shows and now as picketing continues the question is whether resolution can come quick enough for production to restart in time for new shows to be ready by early next year and whether studios will be pushing big fall films such as "dune part 2" amid concerns that those films will suffer from the lack of promotion from actors, who are also out on strike here's the latest. last night the wga met with the amptp's president as well as disney ceo bob iger, warner brothers discovery's david zas-love, universal's donna langley and netflix's ted sar sarandos when those talks been go well the amptp released its latest proposal effectively pressuring were irz to put pressure on leadership to accept their offer. the studios say is the highest wage increase in more than three decades. quote, landmark protections against ai and incre

ju julia boorstin joins us to explain this dynamic duo. >> well, taylor swift's concert movie is launchinghis has sparked some chatter on x formerly twitter, about how this could potentially launch the next barbinheimer double feature phenomenon. swift's record breakinger eras tour will be available for fans at the movie theater for a lot less than the cost of her concert. tickets are priced at $19.89 for adults, get it, 1989, and all the major theater chains will run the movie for four weekends. they're going to be appealing to the 3 million fans that attended the u.s. leg of swift's tour and also to all the other fans who could not afford it to go or make it there. the box office, which is lagging pre-pandemic levels could use another cultural moment to sell tickets and get people into theaters, especially this fall. >> i saw, julia, that amc was having to set up a queue for people to even buy the presale movie tickets and that it was acting a little glitchy or having lag times or whatever. >> massive demand. >> i'm wondering if that helps ticket master and live nation when they're tryin

julia boorstin has been listening in what's the latest? >> melissa, that stock bouncing around first shares were lower, then higher, now shares are down just fra fractionally, after pinterest beat across the board with a meaningful beat when it came to earnings but worldwide monthly active users were pretty much in line with expectations. just about a million and a half, ahead of the number analysts were looking for guidance for the third quarter revenue growth also pretty much in line. guidance in the high single digits that's in line with the nearly 8% growth that analysts anticipated. pi pinterest's ceo said after reducing expenses in the first quarter, in the second quarter, they identified further cost efficiencies, leading to operating expenses that were lower than what they guided to he stressed on the call the long-term potential of the partnership that they made with amazon, saying that they have many strong synergies and pleased with the pace of implementation so far. he noted the broader advertising market is seeing what he call

let's bring in julia boorstin for more. what's the catalyst?p about 3.5% on the heels of two bullish analyst notes that came out yesterday. ubs is upgrading to buy on what they call evidence improving advertiser return for brands. saying that the pinterest partnership will be bigger than they had originally expected. wells fargo with an overweight rating on the stock writing they see 340 million in revenues annually from the amazon ads partnership, and that that amazon deal will be more favorable to pinterest than everybody expected. they're also noting not just the upside potential of this particular deal with amazon but the potential for this taype of alliance to set the stage for future partnerships. tyler, over to you. >> thank you very much, julia. >>> this summer travelers have faced a lot of headaches with the numerous delays and cancellations resulting from severe weather. but one mode of transportation seeing a bump in ridership is the rails. amtrak says on the northeast corridor, summer ridership has consistently surpassed pre-pandemi

julia boorstin with that story this seems like good news. >> it does seem like good news a new study shows the ad market has fared far better than many feared it would this year. the global ad market is growing the at a 4.4% rate this year that is down from the 8.3% rate last year but it's far better than the 6.2% growth rate projected a year ago next year global ad spend is projected to continue its rebound and hit 8.2% growth. now, breaking this all down here, social media, such as meta and tiktok, that's the fastest growing, followed by retail media, such as companies like amazon and alibaba then there are ads in connected tv, a space that netflix, disney and warner bros., discovery are certainly betting on another key trend worth pointing out here, the five biggest ad companies -- alibaba, alphabet, bytedance and meta are consolidating control with over 50% of global ad spend this year and they're headed to about 52% next year. now, further evidence of bytedance's growing power, there's another study out today that finds tiktok's global downloads reached their highest level in th

and we're monitoring two earnings releases after the bell phil lebeau is watching lucid, and julia boorstin. the s&p 500 has gone nowhere in about three or four weeks. it did bump its head against the 4,600 level. you hear a lot of talk about seasonal weakness in august and sentiment got overheated where do you think that leaves us in terms of whether we're in store for a deeper pullback or maybe just a breather? >> i think we're definitely in the terms of breather territory. i agree with you we're seasonality, we're in a couple of challenging months as we get into september. however, i think it's important to take note of the levels that i see on the s&p 500 equal weight we are looking to overcome the first low or high of the downturn, and we need to overcome that level before we can have a new higher high i need to see the equal weight index be above consistently on a weekly basis i need consistent weekly closes. and i see we've failed to make that higher high as we came up to that level, but what i do see is even though we're failing to make higher highs, we're still making higher lows,

julia boorstin has more. >> well, melissa, disney's earnings come on the heels after this afternoon'sorts betting. i would say its biggest move yet into betting, with a partnership with penn entertainment. shares of penn spiking on this news and all of this comes as bob iger's under pressure to deliver cost-cutting amid an advertising construction, as well as writers and actors strikes he is exz%expecting to see a dee in streaming subscribers disney is expect to grow revenue to $22.5 billion, while earnings per share projected to decline by 11% to 97 cents per share now, another key number to watch here is losses at disney's direct to consumer division, projected at $759 million. this, after the company warned that operating losses would widen in that division by $100 million, compared to last quarter. deutsche bank, you just mentioned that report, they say its lower price target is, quote, primarily driven by lower advertising revenue and underperformance at the box office, and to a lesser expent, driven by lighter park attendance in orlando. plus, there are so many looming questions

we're going to get out to julia bore boorstin >> the stock getting a boost from the announcement of a$2.7 billion in debt the ceo kicking off the call with this news, noting that they have already paid off $9 billion in debt since that company's merger the strength in the quarter was in its free cash flow, which came in at $1.7 billion. that's nearly a billion dollars more than the year earlier quarter. it's also ahead of analyst projections of 886 million they expect to have that same free cash flow in the third quarter and it's adjusted ebidta did beat expectations. the company's revenues 10.36 billion fell short of expectations the direct to consumer subscriber number missed estimates and also fell nearly 2 million from the end of the first quarter amid the rebrand in combination with the streaming service into the new max streaming offer. on the up side, the loss to the streaming division were less than expected, 3 million nearly flat compared to expectations of nearly 300 million loss. the transition to max is reported to have gone exceedingly well and he noted early signs of str

i'm carl quintanilla with julia boorstin this morning an earnings triple play draftking soars as it hikes warning of international headwinds and striker gaining double digits. all three ceos with us. >>> today is all about a & a, apple and amazon on the back of earnings we'll have a breakdown. >>> nonfarm payrolls revised lower for the sixth straight month suggesting the slowdown may finally be here. is the fedin

. >>> i'm julia boorstin and here's your cnbc news update at this hour. anything to do with the plane crash that killed wagner mercenary leader yevgeny prigozhin. putin's spokesperson called the suggestion that russian president ordered an assassination a, quote, absolute lie. the new study reports the diabetes and weight loss drug wegovy produces the largest benefit seen for patients suffering from the most common form of heart failure. the study funded by novo nordisk and appears in today's "new england journal of medicine." warner brothers is pushing the release of dune part 2 from november to march. the studio says the delay is because the stars can't promote the movie during the actor's strike. the first installment came out in 2021 during the pandemic and made more than $400 million at the global box office. back over to you. >> julia, thank you very much. the market giving up the gains. the dow is negative by 4 points. s&p up 3. jackson hole, the fed chair speech moments ago talking about the possibility of further tightening. >> we are attentive t

julia boorstin joins us right now to break down the new investments, alliances, and possible pitfallss and start-ups and the tech giants are right now playing an outsized role in this especially generative ai space because of the cost of infrastructure and computing powers necessary for generative ai. for instance, staff at spotify don't have the scale to generate their own ai tools, so licensing open ai's chatgpt to run spotify's dj tool. and while open ai licensed and google licenses its generative ai technology, meta is challenging not only those tools, but that entire business model by giving away its open source lama 2 for free. it's expanding its partnership with microsoft by offering that tool through its azure platform. so microsoft and all of these other tech giants that provide ai infrastructure and tools are together investing billions of dollars into ai start-ups. chip giant nvidia that has backed dozens participating in a $270 million series "c" round for cohere, a $1.3 billion investment round in inflection zp ai along with a round into are upway, which creates generativ

today negotiators for major studios and wga are expected to meet in person julia boorstin joins us. i would say a tentative thaw because what's happening today is the negotiations don't start today. that's true meeting to discuss starting negotiations again. very much a preliminary step i think it's notable it's been 94 days as of yesterday. it will be 100 days as of august 9th. the last writers strike which was 15 years ago, that strike was 100 days i think there's a sense it's been three months, it's time for them to figure out if they can really start negotiating again i think a lot of the writers understand that it's time for them to get back to work they're eager to start getting paid again and then the studios understand they are going to see a big impact to their fall tv lineup and continues even longer and could see even more impact of the film lineup as well. >> i remember us talking even several months ago there was always an expectation maybe this all comes from -- it all worked itself out by labor day. in large part because, frankly, the studios didn't have that much of