i'm kayla tausche in new york. >>> and now to intel which saw its profit drop but revenue rise as the company booked a big charge related to cost, cuts and restructuring. expectations were for 53 cents. revenue was about in line with estimates and up more than 2% from a year ago and the chief financial officer stacy smith says the second half of the year looks strong. >> we have insight into what we think some of the big cloud customers are going to buy. we have new products coming in to the data center that we think will give them some capabilities that they will buy a richer group of products for us. particularly in the cloud, as we go into the back half of the year, we can give us more than seas growth in q3 and q4. >>> underpinning the recent rally in stocks is a series of upside surprises ranging from the economy to earnings. so what was wall street expecting would happen this summer? and what is actually happening? steve liesman takes a look. >> reporter: on wall street, the old adage sell in may has given way to buy, buy, buy in july. many on the street or many at the beach are

for "nightly business report," i'm kayla tausche in new york. >> and now to that central bank move or lack of same. the bank of england in its first policy meeting since the brexit vote did not cut interest rates as many had expected. instead, it hinted at looser monetary policy next month. jeff cutmore has our report tonight fr >> reporter: so according to the notes of the minutes the majority of members on the committee decided that this was not the meeting to start cutting interest rates. in fact, only one member of the committee signaled they thought now we should get a $25 basis point cut, so we move forward to the august meeting. given that mr. carney and the committee have suggested there is not enough data yet for them to take clear action on monetary policy, we have ahead of us three weeks of speculation. the guidance has been very clear that we will have something in august if i read from the notes of the meeting in the absence of further worsening in the trade-off between supporting growth and returning inflation to target on a sustainable basis. most members of the committ

kayla tausche has more. >> jennifer started hearing certainly worrisome last year. >> we heard that student debt was an impediment to moving forward in life, whether it was buying their first home, getting married, for one person even dating. >> and fidelity put together help, getting $10,000. >> i had about $50,000 worth of debt. and he paid off more than his mortgage. >> 401(k) is really nice but i've accumulated a lot of student debt and this one is really important to me. >> there's currently more student loan debt than credit card debt in the u.s. this year's class owes more than $30,000 on average. for jop applicants, these benefit made be a deciding factory. >> if the salary is close to comparable, go with the company that's offering the help. you pay off that student loan debt. it's a differentiator. >> for now only 4% have this program. >> for the last five years we have been with this $1,300 a month, we have been paying off our past and now with the exextra money and ability to pay down sooner, we can tart start thinking about our future. >> these are formal programs to help chip

kayla tausche has more. >> reporter: paypal and visa are familiar foes in the payment industry, but today with a new deal, the two companies became frenemies. a new strategic partnership allows visa to capture more business from paypal customers. paypal saying it will no longer steer visa customers toward using a bank account and instead will try to encourage them to use visa, debit and credit card accounts. but there's something in it for paypal, too. they will get a cut of all the volume they send visa's way. but they also get access to millions of points of sale for visa contact list payments at brick and mortar merchants. that's something paypal has wanted for a long time. visa customers also get the ability to move money through paypal accounts from their visa accounts instantaneously. for now it looks like two companies that couldn't agree much have come together to make a deal that will hopefully be mutually beneficial. for "nightly business report," i'm kayla tauschy in new york. >>> another dow component travelers saw quarterly profits fall to their lowest level since 2012. the p

i'm joe kernen along with kayla tausche and scott wapner.es at this hour, improved up a little president up almost 30 points after a nine-day winning streak in the dow was snapped yesterday. rebounding a little up 27 on the dow. up 3.5 on the s&p. the nasdaq is indicated up 7. in studio sharing his thoughts -- he hasn't done that yet, but i'm talking about going forward -- i love that term. going forward, jason, you're going to be sharing your thoughts. >> if you're going to let me. >> that's why you're here. on the markets, the race for the white house. chief investment strategist at strategest. we'll hear from him. >> he was sharing some thoughts during the break. i know you don't want to jump the gun. he hasn't said anything they missed yet. >> that was accurate in the prompter. he's sharing his thoughts. the coolest thing about him is his name, right? it's always trenert. >> you're really building this up. >> let me manage your expectations. wow. we got a lot of material. >> i need to write down kayla tausche to say it backwards. what wo

jon fortt, kayla tausche, and me, and here at post 9 evernote founder phil liven. >>> our top story,hares of netflix are getting crushed, down about 14%. second quarter sales were you will, but the good news stop there. only 160,000 new customers signed up for the service in the u.s. in its most recent quarter, well short of the 500,000 estimate. and then the third quarter guidance came in well short of expectations. i'm guessing this does not get the yum-yum, as you like to say. >> yeah, no yum-yum here. there's a lot of headwinds for netflix on the pricing front. they added -- they're taking out some of the people being grandfathered, i guess that's resulting in less people renewing, but the good news is they're making more money with this higher pricing, even with the four-stream plan, they're still only $12 a monday, $3 less than hbo. what i like to look at with this business is obviously quarter to quarter, according to reed hastings on the earnings call. i look at, you know, how bingeable are these shows? i don't know if you've seen "stranger things" but this is amazing. if the

john ford, kayla tausche and refugee evangelist guy kawasaki. story of the day is a major deal. softbank agreeing to buy uk chip designer arm holdings for just over $32 billion in an all-cash deal. shares of arm surging on that news. this is the largest takeover of a british company since last month's brexit vote. and, dan, if we weren't already awash in global news, we'd be talking more about how this is potentially game changing. >> it's pretty

john ford, kayla tausche and refugee evangelist guy kawasaki.ur top story of the day is a major deal. softbank agreeing to buy uk chip designer arm holdings for just over $32 billion in an all-cash deal. shares of arm surging on that news. this is the largest takeover of a british company since last month's brexit vote. and, dan, if we weren't already awash in global news, we'd be talking more about how this is potentially game changing. >> it's pretty big. arm does not make chips the way intel does. they design them. and they are basically an intellectual property firm. as everything becomes a computer, they are really important. about 15 billion chips with arm designs shipped last year, up from about 6 billion in 2010. so lots of -- obviously the smartphone revolution has been huge for them. but everything is a computer now. so arm has really capitalized on that. >> about seven years ago, i went out to cambridge in the uk and did a feature for "fortune" magazine on arm. they were at a plateau period because smartphones hadn't really taken off.

i'm joe kernen along with andrew ross sorkin and kayla tausche. and kayla, i think the ford's out.to phil. >> a lot of earnings. colgate out as well. first let's talk about ford. phil lebeau joins us now with those results. >> kayla, this is a miss and what i would call a soft warning from ford. we'll explain that soft warning in a bit. earnings coming in below expectations earning 52 cents a share. they were expecting 60 cents a share. that's a pretext profit of $3 billion. revenue in line with what was expected. the total margin, the analysts were expecting ford to have a total operating margin of 8.2%. it came in at 7.7%. what was the problem in the second quarter for ford? look at the incentives in north america. it did make money in europe. it also reported a slight loss the first one in a long time in china. a loss of $8 million. and then when you look at that soft warning, this is what we're going to talk about here in just a little bit. ford saying its full year earnings estimate or its guidance prior to here is now at risk. they're not changing it. they're simply saying it

i'm andrew ross sorkin along with joe kernen and kayla tausche. futures at this hour are looking a little down after what's been pretty good couple of -- well, more than a week now. dow jones looks it will open up down eight points. the s&p 500 off about five points. >> futures are off their lows of the morning. part of that is because of earnings we have been seeing coming in. in the headlines, johnson & johnson earning 1.74 per share for the quarter. revenue also beat estimated when the company raised its full. we do have one economic report on the calendar. june housing starts out at 8:30 eastern time. new housing construction expected to be up 0.9%. and volkswagen is facing more legal trouble. three states are planning to unveil new lawsuits against the automaker today. they're said to involve accusations of environmental law violations and defrauding regulators. of course interesting to see the lawsuits follow potential settlements for volkswagen. but that story is far from over. >>> day one is over of the republican national convention. it's

i'm joe kernen along with andrew ross sorkin and kayla tausche. up almost 70 points. think eight straight up days for the dow. the s&p is indicating with an implied open of up eight points. kind of closing in on 2200 at this point. nasdaq called up 25. microsoft indicated higher a a positive report. kayla's going to mention that now. but also morgan stanley this morning which was pretty good which we will revisit. >> that's what i'm looking through right now. let's tell you about other headlines this morning. microsoft shares are reporting profit of 69 cents per share for the latest quarter. that's 11 cents better than estimates. encouraged by growth in microsoft's cloud business. revenue growth more than 100% there. we do have the weekly report on mortgage applications just out from the mortgage banking association. fell 1.3% last week. that follows the prior week in surge financing driven by ever lower mortgage rates. and morgan stanley just out with earnings. 75 cents per share for the second quarter. that beats estimates of 59 cents particularly strong performance

jon fortt, kayla tausche, and me, and here at post 9 evernote

. >> kayla tausche, thank you so much.hen we come back, a lot more on another record setting day for stocks on track for a third consecutive weekly gain. haven't done that in a couple of years and awaiting the press conference on herbalife, the federal trade commission saying the company has agreed to restructure and compensate consumers. we'll take a look at that event when it begins in a few moments. back after a break. ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a d

i'm carl quintanilla with simon hobbs, kayla tausche, mike santoli at the new york stock exchange.week with something for everyone, whether it's m&a, central banks, earnings, macro data, politics, we've got it covered with the s&p down just a touch to 21.68. >> our road map, starts with verizon. making it official, buying yahoo!'s core business for $4.8 billion. we'll hear from the former chief operating officers. >> a shakeup at the dnc as debbie wasserman schultz steps aside amid an e-mail scandal on the eve of the party's convention. we'll head to philadelphia for the latest. >> investors cheering after sprint reported earnings that beat the street. the stock up nearly 13% this morning, we'll sit down for an exclusive interview with sprint's coo ahead on cnbc. >> but we start today with the big deal of the morning, verizon announcing it is buying yahoo!'s core internet properties in a deal worth $4.8 billion. ceo marissa mayer just spoke with us about the deal. take a listen. >> overall when you look at what the company has achieved over its history, and where we are today, i co

our kayla tausche joins us with those details having listened to at least one conference call this morning>> yes, and the reason why we watch the banks is because they are bell weathers for economic activity. from john mccain we got a pleasant surprise for those who feared the worst amid a global slow down, a lot of uncertainty and volatility across the world but jpmorgan's consumer business is resilient. core loan growth 23%, deposits up 10%, credit card spending up 8% and that helps shares of visa, many of whose cards chase issues. the ceo told reporters that as the loan volumes go up, though, both on credit cards and auto loans they will be setting aside more in provisions for potential loan losses. on the corporate side, though, the oil and gas sector has, quote, somewhat stabilized, the $235 million set aside for losses there is due to one name the company said and lake said that these losses will continue to be idiosyncratic but more broadly investment banking suffering from that global uncertainty, revenue down 15% in investment banking, companies are borrowing less, doing fewer mer

kayla tausche is standing by on the floor of the stock exchange. >> the stock has been up close to 2% all day and it is really boding well for the rest of the banks as well, having a halo effect, not only on the other big money centers that still have to report, but also on visa, after positive data on credit card spending from the bank. that was just one data point among a slew of positive data about the consumer, which was very resilient this quarter. loan growth was strong, as rates are low, sfosts are up, and the banks are being slightly more cautious on credit. that was a very slight comment there. on the corporate side, not quite as rosy. lower fees, fewer mergers, and not as many ipos, despite the fact we had a big one today. trading was a bright spot. there was a spike around the time of that brexit vote at the end of the vote. cfo marianne lake says that trading activity will return to normal. she and ceo jamie dimon says the uncertainty around brexit isn't going anywhere anytime soon. take a listen. >> we will continue in every single country to serve our clients day in, day

i'm joe kernen along with kayla tausche and andrew ross sorkin.he futures at this hour, they are flat most and turned positive at least for the dow. the s&p indicated down over a point. the nasdaq indicated down four. and oil as we have referenced a couple of times already today is touching a three month low. if you go between 40 and 45, so does it go below 45 or above 45? unclear now. i think a three handle would maybe indicate to people there's some type of global growth problem again. and that could be bad for stocks. we'll see. >>> give you some earnings this morning. earnings of $1.82 per sure for united tech. also beating revenue street forecasts. reached the bottom of the guidance by 15 cents. it's now $6.45 to $6.60 per share. estimates are at $6.55. we also have verizon just reporting and crossing as we speak. i think i can pick that up. >> yeah. it's at 94 cents per share adjusted versus 92 cents estimated for this second quarter. we are seeing that consolidated was 17 cents in earnings per share. they did see 615,000 postpaid additions

. >>> we have breaking news from our kayla tausche.ting off the call. >> you have been reporting about jpmorgan second quarter earnings throughout the morning. but i want to share with you comments executives just made on a call moments ago. namely the comments about brexit and how it affects the bank. jamie dimon the ceo of jm morgan chase was hoarse on the call saying he just returned from a trip to europe. he stopped in london and said that the bank will continue to serve its clients like it did in 2008, 2009 during the financial crisis as the situation gets sorted out. the bank did see what marianne lake, the cfo, calls a small positive trading bump during the few days at the end of june. of course during and after that brexit vote. but she said that the third quarter could still see what is a seasonal slowdown that usually happens for wall street during the summer. she said that the preference for the bank would be to keep its european headquarters in london. that london should still remain a viable financial center but that it's