there are a lot of numbers of the stock who have come down but on their call, sara, kraft heinz said, know, we've developed a lot of knowledge after the heinz deal that allows us to be more confident. what assets can be turned around we know how to integrate faster with better understanding. the framework hasn't changed we like businesses that can travel key synergies we talked about this you talk to bankers and talk about campbell and kraft heinz, well, they crush a lot of tomatoes together is what somebody was saying. there's a lot of money that can be saved by crushing those. >> campbell's soup is not international. campbell's soup has brands i think it's fair to say. >> sure and integrating some massive acquisitions. >> yep. >> the previous ceo implemented. they have a story about how kraft heinz passed on pinnacle foods. just did not see it as a good strategic fit or a good value. remember conagra bought pinnacle foods. but it's another example of a company of brands that are in the center of the industry and that's not where you want to be in the grocery these days just as far a

kraft heinz and campbell are two of the worst in terms of numbers.rganic growth down 2% their forecast is for that to barely grow. that's the kind of industry we're in right now >> that said, they trade at a multiple that's the lowest other than perhaps post and one other company out there. >> smuckers not doing too hot. >> meantime, the president ramping up his attacks on google again today. social media companies and the media at large eamon javers joins us. >> take a look at this video the president released on twitter to millions of followers yesterday. it accuses google of being biased against him because the video says that the president -- the google folks teased ahead to president obama's state of the union addresses but did not tease ahead to president trump's state of the union addresses the problem for the president is that google did, in fact, tease ahead to president trump's state of the union address look at this screen grab in fact, they did tease live coverage of the president's state of the union address in 2018 google released a sta

rose the kraft heinz most in a year and a half at one point. food company reported quarterly sales and profits that topped estimates. there is any report that kraft heinz started for library talks with campbell soup's about a deal. bloomberg has learned kraft heinz has narrowed that list of bidders from $1 billion portfolios in the businesses it is selling. -- posted their biggest profit since 2011. rising food prices offset sales disruptions by truckers strikes. they also cited progress in cutting debt is the most -- that is your business flash update. next, chinang up steps into a the struggling yu -- aid the struggling yuna. an. this is bloomberg. ♪ amanda: this is bloomberg markets. shery: china is stepping in. the people's bank of china israel imposing a requirement that makes it more expensive to bet the yuan will weaken against the dollar. george lay. welcome we were speculating whether or not the trade tensions led to the pboc staying away from the -- this time it is not direct intervention. what is happening? george: overnight we had c

kraft heinz up 8.3%. they beat, rising stocks that are, speculation on the possibility of a deal with campbell's. company,his security down 13.8%, slashing their workforce. and the lackluster view weighing on shares and then stericycle down 13%, a medical company. their shares are lower as the full year vote -- view is below consensus estimate, investors not liking that. earlier this week, the nasdaq 100 down. you can see the volatility, then yesterday apple took off the $1 trillion market cap, now up 1%, the first in three weeks. it is interesting last week we have fallout from facebook. this week we have apple. if we were to include the fallout from last week we would be down, but we are looking at a gain. and you were talking about a haven. take a look at bonds, the yen and gold all rallying. the dow could go the way of the nasdaq, to the downside. some investors seeking haven assets. interesting, thank you. --caroline: interesting, thank you. europe is off to a good start. disappointment a . this is t

take a look at kraft heinz remember all the problem with all the consumer stocks, the margin we've seen, the pricing problem, the brand name erosion we've talked about, the commodity inflation, all of it was present in kraft heinz all of it was present in a lot of consumer names. yet something interesting has happened, the stocks have started to bounce. most of them, most of them bottomed out in may or june. and suddenly they've been rising recently kraft is probably 15%, 16%, 17% off of the lows we saw back in may. most of the consumer staple stocks have also bounced as well most of them in the last several weeks. on top of that i would say the consumer sector that has been straight down is probably up 10% at the bottom here i do want to point out something, some of the advances are fairly narrow. listen, it's really apple that's dragging everything. there's about 70 companies in the technology group, but only 20, 22 of them are really up on the week intel had a very good week, facebook had a good week but facebook is down a little bit, google is down. i would say there's still very bu

>> kraft heinz was formed in 2015 at work shredded warren buffett and berkshire hathaway.each own 20% of kraft heinz. 3g is known for its cost-cutting, including big named brands by campbell soup. you will see they own 40% of the company. another big shareholder, dan loeb, pushing the family to make the sale. vonnie: thank you. caroline: coming up, following 34 minutess than from the end of trading. up across the board. every industry group pushing up higher. you name it, it is in the green. take a look at the fx market, dollar weakness, labor data coming out. on the flat side, euro against the pound. we are euro up to 10%. the bond market, we see a rally all but in italy will we so yields push higher. politicalce again tensions capture our attention, concerns about the government and the finance minister. more into that after the break. this is bloomberg. ♪ reporter: it is 11:00 in new york, 11:00 in hong kong. 30 minutes left in the trading day from europe. i am caroline hyde. paul: this is the european close on bloomberg markets. caroline: here are the top stories we ar

. >>> and kraft-heinz announced a new pizza venture with oprah winfrey.hey currently make refrigerated soups and side dishes. and oprah is a major shareholder in weight watchers i think the tagline is, o that's good that's the news at this hour back downtown to "squawk allall" >> my cyst who are -- sister who is gluten-free will be excited about this >> i didn't get the pizza box. it wasn't in stores yet. sorry. >> kraft-heinz has been one of the worst performing packaged foods in this business which is not showing sales growth and it's not giving them a boost today. >> you would think it would. >> oprah makes money when you are on your diet with weight watchers and then when you hit the pizza and fall off the wagon, she makes money, too. >> heshe's hedged completely. >> she's diversified. >> she knows what she's doing. sue herrera, thank you >>> now to don chu with the latest >> the markets are closing relatively mixed as investors monitor the trade talks kicking off between the u.s. and china in the coming days and weeks here the carmakers are taking a

management said all options are on the table stoking speculation of a full sale to a rival such as kraft heinzampbell soup is expected to discuss the result of the review later this month around the time it reports earnings. shares are higher in premarket trading. they have slumped about 20% in the past year. >>> david einhorn's green life capital taking a big hit last quarter. the fund lost nearly 5.5% in the second quarter in a letter to clients obtained by cnbc einhorn says green line's performance has been far worse than we could have imagined. the fund is down 18% year-to-date >> ouch. that is a big loss for david einhorn. i'm sure his investors are less than pleased we'll see you in a few minutes >>> your other big stock stories have to do with mining, food and music. rio tinto's profit rose 12% in the first half of the year that did miss forecasts. the company adding $1 billion t its stock buyback plan and raising its dividend by 15%. that stock down 4% right now >>> cheesecake factory disappointing investors. the second quarter earnings missing forecasts, but not because people didn't

>> berkshire wouldn't, partly because we own kraft heinz but it's hard to offer significant premium to a package to the company and have it make financial sense. the packaged goods makes high returns on tangible assets it has but it is a tougher business than it was ten years ago and the stocks are higher than they were ten years ago, so we back in the '80s were the largest shareholder of general foods i always liked brands and they're very good brands, but in terms of the battle of the retailers versus the brands and the willingness of people to change their habits probably has a higher propensity for that than 20 or 30 years ago, so branded goods, branded packaged goods are a very, very, very good business in terms of return an tangible assets but they're not a sensational business in terms of where you can be five or ten years from now. >> let me ask you about some news that berkshire made a little over a month ago. i'm not sure it received quite the attention that it should have you said that you were changing your views on buying back berkshire shares >> right >> for a long time,

the kraft heinz quarter they emphasized growth. >> they did.hey said they're going to return to organic growth you weren't here friday. >> wasn't that something >> it was surprising the stock did respond positively. >> yeah. because instead of a really pushy we have to do an acquisition, have to do an acquisition. they talked about how they're digitizing and the possibility second half of growth and immediately campbell's goes up. >> right and there was reports. we'll see. >> not much to report at this point. that process is ongoing, jim their bankers are working on it. their lawyer is working on it. to your point, i think the companies there's some who say some disarray. >> that acquisition -- >> schneider wack suggestiacqui. >> david does this that's the kiss of death. >> right you don't want to see that. >> opposite of affirmation. >> it was a big number and i knew what the cover was. it was so far below. you're like oh boy somebody was anxious. >> whoa! and that didn't pay off. >> before we move on to trade -- the new guy at pepsi do you kn

there is a new report kraft heinz has begun preliminary talks with campbell soup. bloomberg has learned, a list of bidders in the instance that it is selling. shares of shake shack dropped the most in two years. 's existing --in expansion has hurt foot traffic. 30 stores inrease the u.s.. in compensation will be across the board, with the exception of m&a bankers. the biggest increase will be in equity sales. they can buy you a burger at shake shack. that is your bloomberg business flash. scarlet: a lot of time left in the year. it is time for our stock of the hour. gopro. shares are soaring in on pace for the best one-day gain since 2014. abigail doolittle joins us with the details. expectations for gopro are all over the map. it is like a cap that has -- cap it has nine lives. in this case they put up a smaller loss than expected. the bigger pieces they are atecting, investors looking this. aggressive cost-cutting. the sales little better than expected. >> i thought gopro was gone. do you know people who have been buying gopro's? >> that is an interesting point.

>> it's down 17% year to date and it's popped 19% off the bottoms and it's a campbell's soup, kraft heinz story and that keeps investors on their heels and i think you can still trade it >> i'll tell you what, a lot of these food stocks which have been a function of consolidation and it's been a story for years when the market was very, very cheap and when rates were at almost zero and these guys were trading at multiples and i just don't really like the sector they're not growing the top line and having to rely on kraft to remake itself from a corporate structure perspective, it doesn't get me excited >> trading time, next year's earnings >> we were looking at the stocks and when rates were lower and we're looking at them 22 times and now we're looking at eps growth like mid-single digits and the sales growth trading at a market multiple, 17, 18 times. >> and the yield at 4% >> right so we have the ten-year at 3. >> so you'd fade it? >> i think the only bull case right now is the m and a >> tim seymour, coors was up 8%, kind of within the food sector >> the bear stocks two years ago were

you may remember last week a report surfacedaying that kraft heinz had started exploratory talks abouting campbell'soups. campbell closed at $41.35 off more than 2% today a suntrust is initiating coverage of online personal shopping service stitch fix. it's got a buy rating now. the firm says stitch fix is the leading pure play in the sector and should contie to outperform expectations. priceart set at $38. in a down day shares finished at $33.31 up about 5%. >>> tesla is reportedly lking for a wide pool of investors to back ceolo musk's plan to take it private. it would conntrate ownership among a few large stakeholders. >> well, elon musk has beco certainly a celebrity ceo who is closelis tied to company tesla, just like the late steve jobs was to apple and the beloved jack welch to ge, but is it a good thing for investors when the ceo becomes the brand? j.j. qanahan joins us. welcome. >> know you kp a close tab on what your customers buy month to month and sforth, and often tesla comes up as one of their top holdings. it's called betting the jockey when you want to buy the face of t

kraft heinz shares rose 8.5% to $64.48 while mpbell's soup cl>>bed to $42.76.wo investors are taking two after the publisher easily topped street targets after the bell thursday and the results were due to stronges s of grand theft auto online and mba 2k18 titles. shares of take two rose 1% to 23.41. sharo of go posted their best days in a year after the company posted better than expected results last night and gopro says it sees sales above estimas and it plans to launch thre new cheap cameras for the holiday this year. shares were up 18% almost to $7.05 a share. >>> discover fancial says its xef david helms will retire next year and reel be retired by the company's chief operating officer and he's been ceo for 14 years now and discover shares were up to $73.34 and perry ellis says it haecved a new bid for $28.90 a share and that works out to $444 million. that's up from the earlier offer of $28 which was rejected and the sweetened offer is another attempt by the privately held randa to up end perryellis' previously agreed-upon deal and that deal was worth $4

people from kraft heinz will be filmed as they ask residents to get rid of their mayonnaise and substitute miracle whip. >> what a genius marketing 'mll in. g olthe ma. mayo.thyo another az" >>> but first, keeping the cash. the battle over $400,000 one couple raised for a homeless veteran who made national headlines when he came to a woman's rescue. >>> and later the chaos at a beyonce concert as a fan rushes the stage. ur mornings were mader better things, than psoriatic arthritis. as you and your rheumatologist consider treatments, ask if xeljanz xr is right for you. xeljanz xr is a once daily pill for psoriatic arthritis. taken with methotrexate or similar medicines, it can reduce joint pain... ...swelling and significantly improve physical function. xeljanz xr can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections, lymphoma and other cancers have happened. don't start xeljanz xr if you have an infection. tears in the stomach or intestines, low blood cell counts and higher liver tests, and cholesterol levels have happened. your doctor sho

there is a report that kraft heinz is limiting talk about a deal.ta is preparing for challenges in the u.s. market that could be hit by a trade war. the japanese automaker is shopping -- for keeping costs in line. toyota reported quarterly profit that beat estimates. shed itsany sla prediction by 50,000 vehicles. tradern unidentified unable to cover losses. in one of the world #is cryptocurrency menus. the exchange was unable to cover it shortfalls. that is your bloomberg business flash. david: every month, we focus on the numbers of jobs created in the wages, but could we be missing other measurements of the body of those jobs? that is what the senior executive -- sounds like to many -- too many seniors -- stephanie flanders who has written for bloomberg? stephanie, i found this piece fascinating? u.n. around the country and found people of -- and now people left behind. >> it was supported by 20 of the biggest cities in the u.k. what i was struck by having these evidence sessions, everything was defined by mass unemployment. the solution was to el

kraft heinz is said to have list of bidders for portfolio and indian business is it is selling including drink. the tata group and consumer goods group topper india are among suitors selected for the second round of bidding. they are seeking $100 billion for the assets, more than 20 times earnings. haidi: they investigate the allegations of sexual harassment and trying to foster a safe workplace at cbs. they rejected claims of a corporate culture hostile to women after a string of complaints against ceo les moonves. it outside law firms are investigating him. he will remain ceo during the inquiry. ramy: mission accomplished for tom cruise. mission impossible leaving little box office for the second straight weekend. this one added $111 million to a worldwide total of 300 million dollars. anlo mr. billionaire had impressive second week, bringing in $6,500, but it was muted for christopher robin. when he and -- managed $30 billion in ticket sales. haidi: that is a most it, but yvonne and remy will be up next with daybreak asia. happy monday. yvonne: happy monday. it is all about china here

kraft heinz is up 9% 7%, j.m. smucker energy is the weakest.e is surging double digits today. capping off volatile few weeks for the stock. electronic art, activision, both stocks are now in correction territory. jim, you own electronic arts it's been a great year to date for all of this space. >> exactly even after these, i'm not going to call them correction, but these downturn, they're still up nicely on the year i think there's one thing that doesn't get too much press in sector into some of the revenues for these companies. i think that's why ea gave tepid guidance fortnight is owned by epic game gaims. after you factored that in, the demographics are good for this sector they may have gotten a little ahead of themselves, but i think they're fairly priced. i like ea the best, but i think all three are well poised from here >> i wonder if you know, specifically with ea, which is down 8.5% a month, those sports titles >> got really ahead of itself. >> you're getting into the prime time you're going to have new hockey season is not that far w

better-than-expected results raised prices in response to higher costs to make its products kraft heinze growth under development and marketing, shares sharply higher premarket. >> dish rallying ahead of the opening bell up 4%, earnings per share revenue topping expectations, and the cord is cut in favor of online video streaming. >> you have to get massage chair somewhere else brookstone filing for chapter 11 border patrols plans to closing all rage stores retailer watching declining foot traffic as more shop on line for gadgets brookstone owned by chinese conglomerate hopes to keep 35 airport stores openly. >> police in boven pulling over one-year-old for driving without with a licensed, test driving red toy mercedes a friend a police officer flashed his lights to pull him over fortunately he didn't need to talk out of a ticket, he was let go with a cuteness warning. >> adorable. >> very sweet thank you so much we are 12 minutes away from july jobs' report what you need to know ahead of this release markets higher into the number 27 points higher on dow industrials up 1 1 on the nasda

. -- best come across times the best, kraft heinz rallying.here's speculative that could be a deal between them and campbell's soup, so we see a rally for campbell soup as well. it is leading to other consumer staple needs. general mills and kellogg, some gains their. very quickly, a look at the dollar on an intraday basis because we will see after that the payrolls report that was a bit of a mess. basically neutral, a little bit of a debt for the bloomberg dollar index. on the week, the dollar is slightly higher. shery: coming up, larry kudlow has a message for china. don't underestimate president trump. we will talk trade and jobs with austan goolsbee, former chairman of the white house council of economic advisers, next. this is bloomberg. ♪ kevin: this is "bloomberg markets: balance of power." shery: let's get a check of the bloomberg first word news. here's mark crumpton. mark: china is poised to strike back at the u.s. on trade is the trump assertion goes ahead with plans to impose tariffs on another $200 billion of chinese products. bei

we are working with kraft heinz on miracle whip.tter is how much the backbone of driving sales at albertsons and walmart. i will say that maybe the with th oftention -- wid attention on twitter is not growing to the stock market's wants and needs, but the ways to maneuver in it and it's at three to over the last four years i have been critical and not excited about twitter question,but i, no have seen over the last six to 12 months seen a resurgence different from the trump effect in just how much attention is in the platform. when you have attention, you have the ultimate currency. it will be interesting to see what they do with their own tt. they were flirting with that space a year ago. i don't know how earnings are done or how much the street values things, but depth and maybe not width is not emerging. emily: in 2007 just before the financial crisis, one of them was a tech company, which is microsoft. is the market putting too many eggs in the tech basket? gary: i think about things in such long-term, like the thought of me und

kraft heinz had a decent report. clorox had a decent report this week kellogg -- that's a 52-week high, $72 on kellogg so we bottomed a bit on the consumer staple names. another one i haven't talked about recently is the retail space and real estate investment trusts they had decent numbers overall. they're notably up this week they weren't all reporting today. last couple of days. that's been a real turn-around for that space not helping the stock market is oil. we can't get above $70 we've had supply concerns. it's been crummy for all the big oil names, anadarko, eog playing the selling on the trade fears did not work we are near new lows on volatility, and tech sentiment remains bullish. we have seen modest moves in some of these names, pharmaceuticals have done well, but tech remains the dominant story. the vix, we're at a new low for the year sitting below 12. back to you. >> all right, thank you very much. >>> a trade tantrum escalating yet again. china hitting back against president trump's latest tariff threa

oprah winfrey, kraft-heinz dot collaboration. 1/3 of the crust will be cauliflower. 300 calories, foure'll see oprah's pizza. we'll look, o, that's good, frozen pizza, liz. it's a roasted wedgie. it will cost $7. that is expanding with the soups and sides. she made over $400 million with weight watchers. we'll see if this is gold. back to you. liz: the whole crust is a slice of cauliflower. pepperoni in there, that there goes the whole benefit. typical. >> those are great videos. liz: millenials force to be reckoned with when it comes to the stock world. jpmorgan is launching a free brokerage platform. millenials don't expect to pay anything, let alone trading that has implications for exchange operators and banks. we have our next guest the ceo of halo investing an and co-founder of redbox. how would this be a real opportunity for millenials getting involved in investing. >> thank you, liz. great to be back. one thing you see, jpmorgan's move to make equity trading free or mostly free is long overdue and this has happened in the market already but what people don't realize out there i

advertising online a pioneer, that's 60 very much using facebook is part of that ad last friday kraft heinz, hardly known as a visionary when it comes to getting in touch with younger consumers made a point of telling people on its conference call that it's going digital in a big way again you know what that means it's facebook. it's unavoidable while expenses are going up and growth is decelerating, neither is heinous enough to scare away fresh buyers meaning people who weren't caught in the fresh sell-off, who don't have to forget because they weren't part of the fiasco. when ceo john legere announced he was going to merge with softbank on sprint, the stock sank like a stone. now days the justice department will allow the carriers to merge in order to create a viable 5g competitor to at&t and verizon they're willing to forgive the idea of the merger and forget that the commentary at the time was a resounding no can do some of this is the infectious way the ledger tells the tale, basically arguing neither will be able to withstand a real price war with at&t and verizon. some say it was so

we are working with kraft heinz on miracle whip.uns me how much twitter is the backbone of driving sales at albertsons and walmart. so i will say that maybe the width of attention on twitter is not growing to a stock market's wants and needs, but the depth of attention in the platform, and the ways to maneuver in it, and its ad products, over the last three to four years i have been quite critical and not excited about twitter publicly, but i, no question, have seen over the last six to 12 months a resurgence difference than let's say the trump effect in just how much attention is in the platform. and when you have attention, you have the ultimate currency. to me, it will be interesting to see what they do with their ott. i think they should play in that space. they were flirting with that a year or two ago. again, i don't know how earnings are done or how much the street values things, but i will say depth and maybe not width is emerging on twitter. emily: the top five companies by market cap are facebook, amazon, google, microsoft

with regard to campbell soup with the acquisition of kraft, heinz or general mills works you requirea buy or sell >> i never recommend stocks a takeover basis, i recommend on the fundamentals that stock is going to go lower. let's say i'm not on board with campbells. i do like pepsico on earnings basis. tony in south carolina, tony >> caller: hi, jim thank you. this is tony i just want to ask about shopify. they've just had their earnings report and beat everything by 50 to 60 plus%. now today down 20% why is that and where odo you see the stock going? because i can see 200 at the end of the year. >> i don't know about 200, but i thought the quarter was good i think there are a lot of people gunning for stock, saying nasty things about it that just aren't true. that much as i think shopify is okay, i've been a huge pepsi fan, and that's been the one to own other than amazon. calling all couch potatoes most of the stocks have given you huge gains and are still worth owning much more "mad money" ahead, including some other ideas about how to ride the stay at home wave and then my sit-d

on target quarterly earnings next oprah cooks up a business venture details on collapsing with kraft heinzump tweeting this morning, saying this, it if anyone is looking for a good lawyer, i would stronglyly suggest that you don't retape the services of michael cohen. >> [laughter]. >> all right, twitter account get hacked? i don't know. >> talking about it all morning missing wall street nicole petallides new york stock exchange expecting a lower opening what is the buzz. >> good morning great to see you got that tweet i will turn back to you with j.p. morgan note s&p, don't care about ongoing mueller investigation manafort trial probably not brings to point of bull market 115, 3453 days what we have seen optimism traders i have spoken with maria say this bull market continues you cannot find a pessimist nor a bear around here in fact, saying that u.s. equities remain best risk adjusted game intown optimum. >> john at meridian echoing that no headlines pushed this market down, the same thing we have been getting headlines kraft heinz oprah winfrey collaborating, launching oh that is good

kraft heinz is one of the companies talked about as a potential buyer.to look at their track record, it is engaged in 18 campaign since 2010. 10 of which are still ongoing. this could take some time. we would expect nothing less. york, this is bloomberg. ♪ ♪ -- scarlet: this is "bloomberg markets." julie: puerto rico bonds are rising as much as 30% after the island reached a deal with some owners of its sales tax back securities. it is a significant milestone. for more, let's send it over to taylor riggs. taylor: joining me is bloomberg's amanda albright and are cheap covers puerto rico for us a bloomberg news. it is interesting, this deal is tentative. it is a preliminary agreement. what creditors have -- what have creditors found? amanda: last night, the island, it's in your insubordinate sales the bondolders and insurance companies released this restructuring proposal. it is tentative. in needs a vote from bondholders and it needs to be okayed by the judge overseeing the islands bankruptcy. a 93 percent recovery rate for senior bondholders and a 56% r

kraft heinz itself is up 7%. how does that grab you? >>> let's get to politics.plaints over maxine waters fund-raising activities. come on in peter flaherty chair of the national legal policy center. could you explain exactly what you allege she did wrong? >> good morning, stuart. certainly. we filed a complaint with the federal election commission alleging that maxine waters in her campaign committee violated the federal election campaign act by accepting a 35,000-dollars payment for her so-called slate mailer from the campaign of then candidate kamala harris in 2006. now -- stuart: hold on a second. hold on a second. i have to stop you there. a slate mailer. now was this something that maxine waters created, a slate mail letter? what is it? >> yes. she puts out these slate mailers. they're rare outside of california. she is the only member of congress who uses this device and she gets away with it because she sought and received a advisory opinion from the fec back in 2004. sort of carved out a loophole. we believe she exploited it in this case done so illegall

, continuing winfrey's efforts to add vegetables to beloved classics, according to manufacturer kraft heinz flavors. the suggested retail price is $6.99. each serving contains 280 to 330 calories and 3 to 5 grams of saturated fat. my husband works at facebook. should we hold the stock?tae (ácommercialá) every fire department every police department is part of a bigger picture. that bigger picture is statewide mutual aid. california years ago realized the need to work together. teamwork is important to protect the community, but we have to do it the right way. we have a working knowledge and we can reduce the impacts of a small disaster, but we need the help of experts. pg&e is an integral part of our emergency response team. they are the industry expert with utilities. whether it is a gas leak or a wire down, just having someone there that deals with this every day is pretty comforting. we each bring something to the table that is unique and that is a specialty. with all of us working together we can keep all these emergencies small. and the fact that we can bring it together and effectivel

love, all these rumors and chatter and reports of campbell's being looked at very hard by 3g and kraft heinzuggest that campbell is in for smaller fish to fry when it comes to a strategic review, whiches company is in the middle of in the fall, just spinning off some of the underperforming brands might be a good step, pup not the transformative that people are looking for. >> incrementalism, and part of that is the board is still, you know, the family has a little less than 40%, in control, big question of whether they're ready to look at all all-out sales. remember how it took -- it took decades for them to come around, and then finally a huge price that he later wrote off, because it took so much money to dislodge them. >> absolutely true one limit in the nvidia call, a bit of track talk between nvidia and tesla, and now vice versa. take a listen to this. >> i appreciate elon's comments about our company, and i also think tesla makes great cars i drive them very happily, and with respect to -- with respect to the next generation, it is the case when we first started working on autonomous v

. >> and it's been mismanaged and -- kraft heinz is not, not at that valuation. >> maybe they can ask elon musk. >> john augustine, what do you think? do you want to weigh in on the campbells situation in. >> they may be a private equity candidate, that they're buying some things 11 times, and it's a good candidate and maybe it goes behind the private equity curtain, gets fixed up, gets brought back out >> okay, guys, we're going to have to leave it there thank you for joining us for the first block. facebook has been under fire for the past few weeks the stock is down 14%, and nowtle may be taken over as the second largest website in the u.s. google is number one, facebook number two. who might overtake facebook as number two we'll be discussing that coming up here on "the closing bell." you might take something for your heart... or joints. but do you take something for your brain. with an ingredient originally discovered in jellyfish, prevagen has been shown in clinical trials to improve short-term memory. prevagen. healthier brain. better life. thanks, janet. it's welcomemy happy p

companies, the rotation has been so evident we have this amazing rotation into the let's call it the kraft heinzther day. the rotation back to the banks it's every day there's a new group that goes for a nice run makes it so it's heart to, you know, pin the tail on the bear. >> rolling bull instead of rolling bear >> rolling bear. people want to be bullish. i mean, there's a piece out every day that is good there's a piece out by goldman today on nvidia. there wasn't a single positive word but they said it was good that's strange the only stock that, really, took it on the chin, david, i looked at you -- newell. >> newell? >> newell. >> it's interesting you note that yesterday we did talk about it i think you did in your trading at the end of the show. >> it deteriorated more. >> interesting we were talking about cigna earlier with mr. icahn opposing the deal. carl icahn got three board members. they were opposed to each other as there was so much going on there. martin franklin getting in with star board and getting out with star board jeff smith in there, still. >> right. >> fighting with icah

ped food and coffee and snacking but people aren't buying it jm smuker, you hear how it may be kraft heinzeak. on the earnings alone, they weren't what i was looking for i was looking for a better quarter. the their snacks business is pretty good. >> i think we've got neilsen data out on the consumer product names. campbe campbell's also -- >> terrible. >> a quad weekend being the 18th for package food grouping, 6.9%. everybody is sort of taking a look at the specifics on them and i know with campbell it was pepperidge farm and soup. >> they paid a lot of money. and ulta is up. >> the entire bull market is ulta at one point dave laughed at me about ulta tractor supply has come back too. >> three or four years ago, used to do that all of time. >> i had people make fun of me for -- i don't give a darn what do we got on "mad money". >> the humanization of pets is a great story. if you check the labs, you see the lilly and stock was worth ten points and there he is, no price that people won't pay to make it so that their pets are happy. >> what does pet iq do >> they have supplements and help

kraft heinz has been seeking $1 billion for the assets, 20 times earnings.asing second-quarter results. we are looking for momentum. philip is with me now. what do investors have in mind today? >> the ongoing battle between cost and revenue. analysts are looking at a issure called jaws, which the increase in revenue versus increase in cost. we want that to stay positive. if there is a negative jaws, they get penalized in the stock market right away. if you look at the estimate for the second quarter, some analysts are looking at a mild positive jaws, which is revenue rising faster than cost. some say there might be a negative jaws. they are spending a lot in china, and the question is, is that going to have a multiplier effect on revenue? really quarter by quarter show evidence that is picking up, people will start questioning the plan. they have guided towards positive jaws for the full year, 6% increase in revenue versus 5% after the second quarter. investors will have a few -- a firmer view. haidi: what about the hong kong business? what are we looking fo

kraft heinz plans to overhaul its packaging designed to find greener alternatives.aking credit acrossise in spending nato states. mobiusspecial, mark warrants there is a real possibility of turkey imposing capital controls. john bolton warns there is nothing to negotiate until turkey releases a detained american pastor. find out more across all of bloombergs platforms. elon musk continues to release details about his plan to take tesla private. he says he is getting interest from goldman sachs and private equity firm gold lake. alex, are we any closer to understanding what happens to tesla next? >> i think the reality is no. he did not even quite say he is working with goldman and silverlight. it is still very unclear. the way he tweaks seems to be hedging on his part in terms of demonstrating what tesla is doing and what he aims to do with tesla. ngths toto great le demonstrate from saudi that he had the funding to take it private. but that demonstrated he did not have full support. a granular in fashion examined everything elon musk has said and tallies it with wh

oprah's business venture is pizzas she introduced a new line kraft heinz new pizzas >> the new thingweight watchers where you can eat whatever you want and freedom points i bet they fit into that >> you will get half a slice >> i forget exactly what it is >> there is like some freedom points where things that were there before and i bet money that there is a connection and it actually matches up i have not done the work yet but i will do a little research. >> i am going to do research about 901 this morning at the pizza truck outside. >> getting a little hungry >> i drove here and no time to eat. i don't care what they sell. >> they open at 9:01 >> i am borrowing money from melissa lee and i am going right there, right after the show is over >> trade war rages on. many countries in america is getting caught including a business that specializes in making beer kegs kate rogers is joining us now. the only u.s. maker of stainless steel in the country, good morning. >> reporter: good morning, the american keg company has been unexpectedly hard hit by the trump administrations on tariffs

that boosted profits but also some companies saying that they're going to boost prices included kraft heinzis a report that iranians are hoarding goal this comes as more sanctions will go into effect on the at midnight, but what is this about hoarding gold? >> inflation double digits going up, inflation double digits going up. the iranians believe that gold is store of value so the demand of gold bars and coins have tripled in iran year over year, they actually mined and minted excuse me 60 tons of gold in the second quarter in iran, so people are running to get gold bars in coins there as real has been cut in half. stuart: classic defense against inflation. ashley: telling fox news blocking the strait would be worst mistake. stuart: okay, iran sanctions reimposed tonight at midnight. ashley: yes, indeed. stuart: take a look at the headline why trumpism beats democratic socialism, the writer of the op-ed joins us now, frank berkeley, the author testify book, the republican workers party, interesting. frank, it seems to me that what you are saying is economic growth beats free stuff, trumpis

. >>> kraft heinz topping estimates with latest earnings and revenue. mprove by the end of the year. separately reporting that kraft has exploratory talks with campbells soup although kraft has not made an offer and is not likely to pay much of a premium for campbell then cbs reporting better than expected earnings and revenue after the close. but shares are trading lower this morning ceo les moonves did not address allegations of sexual misconduct against him during the company's earnings conference call we talked a lot about that this morning. and blizzard beating on the top and bottom lines the video game publisher did have revenue below consensus >>> coming up, help wanted trucks are the life blood of american commerce. what if all the big rigs were packed with goods from amazon and there was nobody to drive them kate rogers joins us with that story. >> we will tell you all about that labor shortage in the industry and what it takes to get new drivers on the road coming up after the break on "squawk. we all want to know about the new thing. you know,

kraft heinz isn't sure yet what kind of packaging could match in terms of convenience and still be recyclable can't find one, they will invent one not like what you saw with the paper straws tougher problem. >>> and a federal judge in seattle -- we talked about this before but it's still such a strange story. barring a promoter of 3d plastic guns from releasing the downloads. which had been available since friday were banned it would allow anyone with access to a 3d printer to self-produce a gun that would be undetectable by metal detecters and untraceable by law enforcement. this is a continuation of a long legal battle going back to 2012 when the company began posting blueprints online. they were then blocked from posting those. and literally within the last couple of months, the trump administration said actually we're not going to try to block this from taking place on first amendment grounds and second amendment grounds then a judge stepping in yesterday to say this doesn't make sense we should also say president trump tweeted out yesterday that he'd been in discussions with the nra, tha

kraft at other movers, heinz and campbell soup, last week, it had been up in a big way on rumors and speculation there could he a deal with campbell soup's giving some back. campbell soup's about flat. , on thehe biggest possibility that u.s. antitrust demand could threaten the 7.6%.y's deal down the maker of sharpie pens among many other items, put together a disappointing order. look at the intraday chart of the 10 year yield. until about 8:00, up slightly, which told us at that point, pulling back. now down to basis points, really giving some of the backdrop -- plus, we have ceo jamie dimon talking about the possibility of 5% investors, not seeing that now. tapping into the bloomberg, let's look at what that could appear like. a long chart of the 10 year yield in relation to the moving average. well short of 5%. what that means for the repricing of risk and of course, the effect on the economy. -- shiny in recent days, weighing on sentiments somewhat today. especially for one of the biggest banks, it is struggling to produce a significant revenue growth, with an effect on asian ma

heinz, got some synergy, but kraft, got more synergy.eone like that, it might fit neatly into a kellogg's or other business out there from the synergy standpoint. so hard for it these kind of companies to turn around? shouldn't they have been innovating like this for decades? mike: if it was easy, everybody would be doing it. they are smart people at these companies. the real challenge is twofold. the first is, these companies, at their heart, they have been all about mainstream and scale. today, there is a lot of interest in things that are much less processed and more unique, and more artisan all. -- artisanal. eir product doesn't quite fit that. : mike, really great to get your perspective. coming up, what is the continued growth of dollar stores tell is about the u.s. consumer? we will break that down next. this is bloomberg. ♪ alix: this is "bloomberg daybreak." i am alix steel. that risk on rally, records and the s&p and nasdaq, taking a pause this morning. european equities getting hit. down five point 4% despite the fact that som