phil lebeau live in orlando, florida, with more hi, phil. >> reporter: it is coming back no doubt about that. there's always been muted optimism that things would take off. they're still working off the inventory that was built up during the recession of 2008 and next year they expect shipments

i'm pl lebeau. that story coming up on nightly business report. >>> onegindustry that's s in the economy right now, corporate jets. jet ct the business business is finally getting a lift after a decade of trying to clear out the problems csed by the great recession of the past decade. industryeaders recently met in orlando, florida. and that'sre w we find phil lebeau tonight. >> reporter: they are big, high-price and very much in demand. corporate jets from small ones ewselling for a million dollars to a big boy going for tens ofmillions. they are once again hot sell clearly the global economy is very strong right now, particularly the u.s. and business aviat tends to follow the economy. so this is a particularly good time that we're seeing t for aviation industry. >> after business jet sales losa altituecade ago, the recovery has been slose mainly bec lot of used planes held down demand for new ones. that's no longer the case. the the the 600 jet is atracking heavy interest. >> we have sales for th

phil lebeau on boeing and bob pisani looking at what could possibly calm the markets. begin with dom and get a check on the week's earnings so far. >> earnings season continues to be that positive theme that's developing that hasn't exactly translated into constructive market moves today's price action reinforces that feel a bit. it's something that jeffreys equity strategist steve desantis said 63% of large cap companies have beaten earnings estimates, 65% have beaten sales estimates, but only 48% have managed to beat both top and bottom lines now, the thesis he's talking about here about what's shaking the market is concern over whether last quarter, the second quarter, may have represented peak earnings growth still a little early to tell there. but data still has s&p 500 earnings growth at 22% for the quarter if all other reports come in as expected. we're also going to see top line revenue growth of 7.3% a couple of key hot spots to watch that have been in medium to longer term downtrends and certainly recent earnings catalysts this week, regional banks, especiall

elylan mui i can't is watching e beige book and phil lebeau and we also have dom chew mike, let's start with you >> yeah, the market is turning around the area of yesterday's lows it is making the dip buyers sweat a bit, buttants -- tantalizing the bears. leaving intact the idea that the market is oversold leadership groups have been munimun imun -- punished the reason i think people are starting to feel as if the market needs to rally very soon is usually you don't have the indexes sitting in this kind of vulnerable position. the lows are intra day average with a steep decline very oversold li solsold levels. and i do think that the problem with the defensive leadership that we have in the market coming into this weaker phase for stocks, it is reminding a lot of people of what more signature market tops might look like that is not a call, but it does seem as if time is getting short for this market to respond and get a good bounce. >> all right thanks very much and the market went lower following the beige book data. >> tariffs and a tight labor market were the two key themes out of th

as pl lebeau reports right now musk is now dropping that fight andgreeing to changes at his company. >> reporter: tesla's ceo elon musk has decided it is better to settle with the sec than to spend months in court and risk getting banned from being ceo of his auto company. instead he gives up being chairman for at least three years and the automaker has to addwo new independent directors. in addition musk and tesla will pay $20 mlion fines and the company must ensure there is oversight of musk's communications. that includes what he puts on twitter. so teslaill now be expected to keep musk's tweets in ch tk. >>nk that he may be tweeting as much. but what they are trying to do is to makeure that there is oversight of substanti tweets. >> reporter: with the sec investigatio over tesla and musk can focus on three key issues, first growing model 3 t deliveries meet loft eexpectations. second can tesla finally turn a profit as musk as promised. finally, will tesla need to raise more money as it expands eserations? analysts believe can clear those hurdles with musk remaining in charge of t

phil lebeau nigly business report, china. >> and another bright spot late today was have visa. the dow component topped earnings estimates thanks to i increa total purchases made by people using visa cards. the world's largest payment network said it benefitted from higher credit card and debit card spendings wel as job growth and lower taxes. and that sent the stock in initial after hours trading. >>> time to look now at some of today's upgrades andgr does. and we begin with morgan stanley upgraded to outperform from market perform at wells fargo. the analyst expects the bank to increase financial targets in january, price target $60, shares though fell along with the m broad areket today to $43.49. >>> lulu lon upgraded to buy from hold at can accord. the analyst cited the product development and international expansion. price target $160. nonetheless the stock fell 2% to 134.29. d young brands downgraded from hold to buy at stifle the analyst cited the recent strength. $ price targ. the stock dropped 2% to $87.06. >>> still mixed messages is the market saying one thing to in

phil lebeau tells us why the auto giants do it together instead of on their own. >> reporter: general motorshe world's second largest auto maker is joining force was honda. technically honda i investing just under $3 billion and taking a small ske in gm subsidiary cruise. ers will the auto m develop and build an autonomous vehicle. this is a partial image of what that vehicle might look like when it's finally sold around the world at some point i the future. >> what we are doing is designing a purpose built vehicle fully autonomous zploid in a shared network for theon transportaf passengers, transportation of other things. so we see a huge a opportunity and flexibility coming out of this. r: with practically every auto maker and many tech firms working on self-driving cars, why did honda approach gm about making a deal? mainly because cruis and its development of self-driving cars is viewed in the auto and tech industries as being at the forefront of putting autonomous vehicles on the road. way mow as fleet logged more miles and will be available fe thublic to use later this ar. but c

phil lebeau has me on that for us. >> reporter: the next time you see the ground crew fueling up your plane before takeoff, remember this, that fuel isashe airfares are likely to move higher. historically airfares move up or down in tandem withet fuel, and now that it costs more to take off, airlines are likely to pass along those higher costs. admittedly, fares have been trending lower with e average domestic round trip ticket now costing $217, butav airlines been able to boost revenue by charging customers to change reservations, upgrade their seats and che. ba in fact, almost all of the major airlines have recently raised theost of checking your first bag from 25 to $30. that will help airlines offsetl higher f costs. as will theact there's a record number of people flying right now. demand is strong. historically airline stocks move higher ithe fall in anticipation of a busy holiday season. we'll see ifhat's the case this year when airlines start reporting earnings laterhis week. phil lebeau, "nightly business report," aicago. >> rising oil prices are pushing up the price of gasol

phil lebeau, nightly business report. chicago. >>> meanwhile tesla met and production goals when it comes to the model 3. the company said it delivered more than 55800 vehicles to customers in the third quarter. that is three times more than they delivered t previous quarter. but the stock fell after tesla warned of problems selling cars in china because of the new tariffs. >>> it's time to look at some of today's upgrades and twroun dwrads. general electric upgrated at rb the analyst citing the successful track record of the newteeo. the rep on the management change yesterday. the pris. target is $ separately s&p downgraded their credit rating a moody put it on review for psible downgrade. but shares rose to $12.32. chevron was added to the conviction bye list over at goldman sachs. the analyst says rks to the stock have been overstated. the price target is $142. the stock rose a fraction to 124.74. >> the same analystch at goldma downgraded congo to bye. the drieted the valuation at $81. the stock fell 2% to 78.28. >>>

phil lebeau has the details from chicago. mr. is a stock that is now at a 52-week low. let's see if they'll be able to bounce off of that and move a little higher in the few hours left of trading. when you look at the third quarter for jetblue, it's pretty simple here. those higher fuel costs were weighing on the stock. they did beat earnings expectations and they have indicated that fourth quarter booking trends are encouraging. but for jetblue this is a stock that's been under pressure for the last year largely because as you look at their margins they're being squeezed, their fourth quarter revenue per seat mile guidance up 1.4%. but the jet fuel cost continues to weigh on all the airline stocks take a look at jetblue and what it's done the last year, continues to move higher up 37% year over year for jetblue and this is one reason why you look at all of the airline stocks today and they are all under pressure they are bringing the dow transports lower whether it's united, american, delta, southwest, all of them under pressure

phil lebeau. nightly business report. alabama. >> it's time to look at some of the upgrades and county grades. hp downgraded to neutral from owe over-the-yaegt at jp morgan siting limited near teerm cattle despite despite the excellent execution. the price target is $29 falling about 4% to 25.34. millin downgraded to neutral from buy at. the analyst sees a less favorable regulatory environment that could impact margins. the price target is 37. the stock fell 2% to 35.29. >> pepsi downgraded to neutral from outperform at the analyst siting higher input costs and rising freight costs which could impact profitability. price target in our $107. that's down a fraction so 16.49. ealey lilly upgraded at bmo capital markets. the analyst cited the long-term growth prospect. price target raised to $130. that stock rose more than 1.5% today to 115.02. >> stale ahead, the jobs of future. >>> i'm kate rogers in queens, new york a on nightly business report tonight we tell you about the importance of aviation technicians and why the in

phil lebeau. nightly business report, chicago. > finally tonight not only are cars going high-tech but so are bank and it may mean robots will one day be a main stay at the local branch. leslie picker recently attended the money 2020 conference in las vegas. >> come talk to me. >> meet pepper. she is a robot created by softbank, a conseerj of sorts for the banking industry to help customers figure out tasks le depositing checks or opening accounts. the london based bank hsbc thinks pepper is a answer to servicio and next gener technology for the branches. >> it's incredible the feedback and we are learning this is history. no one has done this in a us bank branch. we are learning --ughsbc bro pepper to the money 2020 event in las vegas that gathers together hundreds in the financial technology industry to discus future of money. i decided to take pepper for a test ride to see she could do. pepper tell me about credit cards. >> whether you are looking for ashback promotions low introductory apr or

always great to see you. >> reporter: you, too. >> phil lebeau >>> up next, we are "on the money. whether you are driving to work or getting away for vacation, how about cashing in on that road trip? making a delivery that's already on your way. >>> and later, trying to pay off student debt and save for retirement at the same time? we'll help you crunch th numbers to best allocate your money. right now, though, let's take a look at how the stock market ended the week ♪ >>> if you are looking for a way to pick up a little extra cash without going out of your way, guess what, there's a company interested in your services. it's called roady, and the company crudsources deliveries all you have to do is have an app and a drier's license. joining us to explain how it works is mark gorland, the founder and ceo of roady mark, good to have you. >> thank you for having me. >> explain how this works, what the pricing setup is if somebody's going in a direction, they can pick up a load and deliver it, just based on what? >> it's essentially people that are already on the road heading in the r

phil lebeau with gm shares sharply higher as well but we'll begin with bob pisani. >> it's been a lousyctober but it's going out with a roar i want to show you the s&p 500, what's been happening the last few days we bottomed on monday and moved 118, 120 points since then the dow has moved 1,100 points since the bottom on monday the s&p is up 2.5% watch the beat and up groups when you see them bounce, that's when you start to see some stability, and we're getting it. since monday's close look at semi conductors up 6%. industrials up 4%. energy stocks up 4%. builders up 6% those are the beaten up sectors, outperforming good sign. metals and mining not really outperforming, that's the one underperformer faang stocks are up 2%, 3% so far this week. how about the month of november? are we going to get a better start to november? i think we'll see it we'll see pension fund rebalancing. we have oversold conditions i talked about buyback activity is on the rise. we saw estee lauder, ibm, maxim, nutrisystem all announcing buybacks the fourth quarter in the midterm elections has been up every tim

phil lebeau is in chicago.rapped up for us. >> reporter: the general feeling on wall street these will be pretty ugly numbers, the numbers coming out wednesday after the end of day trading take a look at shares of ford. morgan stanley cutting the company's rating to equal weight, price target moved down to $10 at the same time jpmorgan cut q3 by 36% a number of issues here when you look at slowing global production, china sales down 40%. it's european sales are softening. the company reports earnings next week. it will be significantly below expectations the profit warning is due to issues, the second for daimler take a look at the model 3 and the reason we're showing you the model 3 tesla ceo elon musk announcing on twitter they're going to introduce a lower priced version, what they're calling a mid-range version that will start at $45,000. when you look at shares of tesla, how can they increase production and increase deliveries and, oh, by the way, go back to when they introduced this in april of 2016. the

dom chu looking at the markets dow up 280 julia boorstin is here and phil lebeau from dallas, followingla and ford earnings meg terrell. >> carl, twitter shares are soaring 17% on top and bottom line, despite user growth falling short of expectations. the earnings of 21 cents a share are 7 cents better than wall street projections revenue of $758 million for advertising. looking at monthly active users, numbers fell more than expected, declining more than 9 million in the course of the quarter to 326 million. 4 million short of expectations. the company expects another mid single digits million decline in the fourth quarter, daily active users grew 9%. jack dorsey says both daily and monthly user numbers were impacted, but the company's focus on cleaning up spam and fake accounts, saying improving the health of the platform is their top priority, saying it is key for the long term growth of twitter. guys, back over to you. >> julia, thank you. let's get to phil lebeau, he is looking at tesla and ford earnings phil, both those stocks moving higher >> they're moving higher start with tesl

the auto stocks under pressure after what was an overall a strong september for sales phil lebeau hashe details from chicago. hey, phil. >> melissa, it was a strong september in terms of overall sales rate which is above 17 million. but compared to september of last year where there was the post hurricane harvey rebound in sales, everything looks down relatively speaking year over year look at major auto makers for september. only fiat chris letter posted positive honda, ford and toyota in comparison with a monster bubble september from last year as for general motors to be, it reported third quarter sales no longer does monthly sales. for the third quarter sales down 11.1%. the other piece of news getting attention today, the tesla and it's quarterly sales as well as production numbers. and on the production side that's probably getting more attention because it's not necessarily deliveries that everyone is focused on but the production, specifically of the model 3. it came in with production of more than 53,000, a little better than expected in terms of deliveries look at how they r

. >>> general motors results hitting the wire phil lebeau joins us now with more >> hey, joe.eat by a wide margin on the bottom line. in the third quarter general motors earned $1.87 a share well above the estimate of $1.25. now, there's about 30 cents of benefit including from a number of items including a lower tax rate but even if you strip that out, they beat the street at a buck 57 to a buck 25. revenue coming in at $35.8 billion. up 6.4%. much better than the analysts' expectation of $34.8 billion overall the company earned $3.2 billion in the quarter that's up 25%. big drivers, north america and china. in north america, earnings up 33%. $2.8 billion with the 10.2% profit margin. china had record equity income -- from a richer mix of vehicles and lower cost in that country. the rest of its international operations lost about $400 million. but gm financial contributed a half billion dollars in the quarter. in terms of guidance, the company is not changing its guidance for the remainder of this year. but it does expect to be near the top end of between $5.80 and $6.20 a sh

dominic chu with a look at market momentum and phil lebeau looking at the markets >> caught in the crossrs of growth concerns and continued political uncertainty in italy start with italy the european union has officially rejected the italian government budget proposal, telling rome to revise, resubmit plans due to excessive spending. europe response is hours after the italian president said there's quote no plan b when it comes to government deficit target you can see the italian benchmark is falling deeper in negative territory, bear market territory. ahead of the ecb meeting thursday, mario draghi, central bank governor will likely be pressed on impact of italy on central bank policy. keep an eye on the euro which has fallen 2% in the past month. taking a step back, looking at major indexes, german dax has fallen tech led the selloff plummeting more than 25% after it surprised with weak q4 guidance as it faces heightened competition. french firm atos dropping 20% after slashing its forecast, citing global market uncertainty. disappointing earnings out of europe as well morgan >> seema

. >> phil lebeau on autosales day. you may see some new products.are dealing with the florence impact and the comps from harvey last year. >> if you look at automation vers verses carmax. used cars are such a bargain verses new cars. i think it is hurting the industry >> it is not like the old days the old days you got one every four or five years and now you are not getting new ones the used ones are in such good shape. it is really hurting the market. >> we'll watch that and we'll get gm in a moment as phil says. let's get the opening bell here at the nyc s&p and cnbc at the realtime exchange big board is front door, a home service company spinning off from service master. really quick, jim, i am sewure o see research out of ipos making no money 83% of the first three quarters of the year. a higher percentage. one that's making money is down so badly today that's because they had alessening in the advance of number of people who used it the chinese ipos, well, we let them do anything in our ipo market there are tech company that grows so quickly t

phil lebeau in chicago what could this mean for tesla stock? let's recall some other ceos bought shock remember jamie dimon. february 2016. that stock raleddy more than 95% famdsly known as the dimon bottom don't forget about the steve wynn betting on his casino stock. this is something pete are refers to a lot. rallying more than 54% six months later could there be upside for tesla. >> not based on this like, i think the main point is yes he bought on every equity offering, even bought on convert ofrpgs think about it when the company issues new shares it's dilutive. he is trying to manage the dilution but the most important story we keep hearing rumors about is that this company is going to need to raise capital soon that's the issue how they do it and on what terms. ke buy whatever he wants the stock is not going up until we have a fix to a $2 billion capital hold in my opinion. >> or they bought a plot of land in shanghai to build a factory they have to raise money probably in the asian markets for a $2 billion facility there in asia, not e

phil lebeau has more on the story. >> melissa, this is a significant investment by honda as it trieso jump start efforts to develop autonomous drive vehicles here is the deal between honda and gm honda will invest 2.75 billion in the gm subsidiary cruise. including $750 million immediately in order to take a 5.7% stake in cruise and together honda and general motors and cruise will develop and build an autonomous vehicle. here is a teaser image they released today of what that vehicle might ultimately look like hard to make much out of that image there. by the way, it will be sold worldwide, though there hasn't been a taergt target date for the vehicle. this is the start uts a race between a number of auto makers and tech companies, many of them partnering up to develop and put self-driving vehicles out on the road you remember waymo start having the public use of its waymo self-driving minivans in limited capacity in the phoenix area by the end of the year. general motors says its self-driving vehicles developed by cruise should be ready for use by the end of next year. then in 2021

phil lebeau in chicago >>> ford shares down 30% how should you play the stock heading into earnings.rofessor coe is at the chart >> first and foremost, the implied move on earnings next week perhaps not surprisingly is above average. and what that also tells us is that options are expensive and finally, one of the other reasons i might look at a strategy like this i think to my eye, and we need carter's input, the stock looks a little bit oversold. he also, phil was just talking about in addition to the incredible weakness we have seen and this is only a one-year chart. he was talking about a period significantly longer he was talking about a potential dividend cut looking at the options markets, what we're seeing is there is an implied dividend cut of about 50% in the jan 2020 market let's look at the structure of the trade. when i was looking at this earlier today, you could sell the november 8th strike puts you could collect 20 cents for those and then buy the january eight strike puts. that's a net debit of 18 i was in there today i got a little bit at about 17 cents. the idea he

phil lebeau nightly business report, chicago. >>> and today the head of the dallas fed says he supports moving ahead gradualry and patiently with interest rates are rate increasing even though he says the inflationed pressuringiluild wng cabinet lynn says he cease dueling forces will keep it from spiking sharply. >> i don't believe inflation runs away with us. particularly with the tariffs and input costsil you see it build. but i personally think the more struct forces are not going away. if anything they intensify and have someec muting e on inflation. >> and mr. kaplan also said he is starting to see companies try to rse price the first time in a long time to counterthe rising input costs. >>> and the trade issue with china is a game changer for the global economy. so says the international monetary fund which is cutting its outlook for world economic growth to 3.7%. the organization says when the world's two top economies impose tariffs on each other everyone feels i the imf expects growth in the u.s. to slow toea 2.5% next growth in china could drop top 6.2%. >>> did you know that

phil lebeau's got the details.e testimonial of the day, if you will, and it actually came yesterday afternoon of the day. the oracle analyst meeting, larry ellison was asked of the topic, he went onto say obviously tesla had a good day yesterday after posting a profit for the third quarter on wednesday afternoon. he says tesla has a lot of upside and as you take a look at shares of tesla, that upside continues today. this stock is up 30%, 30% this week now we just watched the larry ellison if you will where he talks about his believes in tesla of the second largest investment, his personal second largest investment in tesla. he mocks a number of critics as well as reporters questioning the smarts of elon musk. it is an entertaining minutes or two if you get a chance to watch the oracle analyst meeting with larry ellison, vocally and clearly makes it obvious that he's a big fan of elon musk and tesla. >> tesla is running out of time in terms of meeting the sec deadline to name its dependent directors and chairman >>

phil lebeau in ch chicago with the details. >> morgan stanley today put out a note adding to the concernst investors had that ford is adrift and has no direction in the future adam jonas, the the amount coming out with keep points. first of all he cut the company raid rating of ford down to equal weight from overweight cut the price target from $14 town to $10 and summed up the view about the lack of trarptty by ford saying we see limited progress limited progress regarding the company's restructuring plan remember, they cancelled an analyst meeting scheduled for september where the company was supposed to outline its plain plan for restructuring the business and investing in mobility solutions in the future since then it had little to say about when it might reschedule off meeting or what the restrurpg ultimately will be and as a result shares of ford continue to be under pressure. keep in mind there is also growing chatter amongst analysts about speculation the company could potentially either cut or eliminate the dividend at some point in the future as it looks to conserve cash and fin

our phil lebeau is higher. >> sara, this earnings beat comes down to gm's two largest markets. and the u.s. and the first of the u.s. is a pretty simple formula. here's how they did it you look at the average transaction price. up $800 per vehicle in the quarter. they are spending less to get you to buy down $500 per vehicle for incentives, and that means the profit per vehicle last quarter, up $605. the story in china is that this is a market. while it's starting to feel some pressure that general motors is doing pretty well in posted a record half billion dollar profit. here's the cfo of general motors >> we've had record cadillac sales in general and we're up 20% year over year, and as in an overall strong luxury market cadillac is dokesceptionly wein well as well. >> the company is now offering buyouts to 18,000 salaried workers here in north earning in they have about 50 no,000 of th. they haven't said what the target is or what they would like to take the buyout. this is an example of keeping costs in line as much as possible take a look at the major automakers when it co

phil lebeau taking a dive into boeing's results and seema 34 a mody's looking into hilton's results. let's begin with bob >> the important thing is we are seeing volatility and gyrations in the middle of the day sell programs, look at the s&p 500, sort of tooling along just a little below normal. below break even 11:00 sell program comes through. just a generic sell big etfs like the spy and iwm went on for a few minutes and stopped and the market sort of stopped and started to rally again but these have been coming through with regularity in the last two weeks and a lost people are trying to figure out when the bottom is. here's what's going on the markets have been looking through the earnings generally the earnings have been very good and the commentary for the fourth quarter has been very good but the market's not paying a lot of attention and stocks are not being rewarded for not only good earnings but decent commentary about the fourth quarter. because we're dealing with a lot of macro two principal issues china slowing and tariffs. two related issues and the fed hiking rates a

thank you and you can catch the plan at the lisbon film festival dock lebeau on the twenty seventh of october after the break what you going to do when the world's on fire from knife crime to grenfell to stop and search cattle we learned about institutional u.k. prejudice from the usa all the support that we have about doing going underground. you know world a big part of the movie lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the back and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. backs kaiser's financial survival bill they say money the balance the. budget is it this is a central plank support diagram is kind of problem right now so stop the bad. i've been saying the numbers mean something they matter the us has over one trillion dollars in debt more than ten white collar crimes happen each day. eighty five percent of global weal

very simple idea so it's wrong thank you and you can catch the plan at the lisbon film festival dock lebeau on the twenty seventh of october after the break what you going to do when the world's on fire from knife crime to grenfell to stop and search how do we learn about institutional u.k. prejudice from the usa all the support going up about to going underground. definitely on the deep dollar ization camp they are warning goal they're building a goal see play two d. dollar rise they are looking for the dollar. trade significantly and. welcome back to turn on the t.v. sets in any major nation and you'll likely see condemnation of trump's usa based on identity politics tension but if we ignore the breathless near liberals maybe we can hear that the rot set in long ago and londoners just like the people of louisiana depicted in a new documentary recognize may. stories of different life and death outcomes of the determined by class and color we went to the mayfair otel in london to talk to one of the stars of what you're going to do when the world's on fire judy hill to talk about where claus

phil lebeau is going to join us.rns with that and so much more every investor should ask questions. is our money in the right place? what am i really being charged? and is it eating into my returns? is my advisor a fiduciary? is he always a fiduciary? a good place to start is with an independent registered investment advisor. as fiduciaries, they live by a simple rule: always act in the best interests of their clients. that's why charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a

we spent much of thursday and friday talking about the on and off nature phil lebeau has the details. >> reporter: andrew, watch shares of tesla today. if you that i can deal, that yet yetty much okay. shares expected pre-market and here's the settlement. there's a fine that tesla is paying he gives up the chairmanship for three years. he gives it up he cannot be re-elected for at least three years. two new independent directors will be appointed to the tesla board. both elon musk and tesla paying $20 million fines. this is the most interesting one. there will be oversight by a committee of elon musk communications we won't get as many twitter bombs overnight as we've seen the last couple of years there was an e-mail that he sent out. remember, the end of the weekend is when they had to say we could make x number of model 3s expected to be over 5,000. he said they're closed 20 profrtdbility. they needed one more big push. as you take a look at tesla, we will get the delivery numbers in the next couple of days. the expectation is that model 3 deliveries will be over 5,000 per week, ove

check our shares of general motors surging today phil lebeau has been following it and joins with us in the stock price is significant because we are looking at general motors shares having their first positive month since may and when you look at why it's easy to see why. they had a big earnings beat driven by two strengths for general motors north america isn't only the fact that they have a rich mix in terms of trucks and sufficient bsuvs but it was driven in part by strong prici pricing. in china, gm's largest market in terms of volume, got about a half million -- half billion dollars in equity benefit. the sales were down 15% but they are benefitting as they see record profits in part because cadillac is doing well and there is a stronger mix in china than they've seen in the past this is giving all auto stocks a boost today. general motors was up as much as 10% pre-market ford has moved higher. we have fiat chrysler earnings which were strong and then you have toyota so this is welcome relief for the auto sector and investors in the auto sect who have really had to endure rough

. >>> meantime, phil lebeau is in orlando at the nba showcase sitting down a special guest hey, phil.i'm joined by scott donnelly, the ceo of texttron, a huge day for you as texttron aviation your subsidiary and cessna launched a big deal with net jets, tell us about this deal because in the world of business aviation, this is a wopper, we don't see this very often. >> we've been working with net jet guys on latitude which has been a huge success for both companies. net jet has 75 latitudes in their fleet. we here in the process of building more aircraft. >> 325 airplanes. >> correct so the longitude deal is 175 we're extremely excited about doing that they'll turn their sales teams on shortly to drive that we would expect to make deliveries next year and introduce that aircraft into the fleet. this is an airplane we've been talking about for a while. we've done the concept design. net jet is fully engaged they're a huge operator in that class of airplanes so to have a partner that brings that experience from pilots, maintainers, crew, help us speck out, super exciting for us. >> what

as automakers hope to rebound in new vehicle sales, they face the challenge of higher rates phil lebeaun chicago with more on rising rates. >> the concern is that these rates will ultimately mean a higher interest rates for autoloans. take a look at the change in the monthly payments as well as autoloan interest rates going back to 2013 you can see that both have steadily moving higher the average monthly payment right now is about $525. there was a time you go over $500, it is tough to sell a vehicle but now that's the average. in terms of interest rate, we always hear people say i got to get that 0% loan 0% of the late has been declining down to 5.6% of loans that are written in september this year. au i think final rate last year was 17.23, something like that four straight year over 17 million, this is the best stretch ever for auto sales in the united states. yet when luke at generyou look motors and fiat chrysler, it is a little different there is nothing to write home about in the last year investors generally saying tell me when you have a plan when it come to monetizing autonom

mike santoli is here dom chu, brian sullivan with oil, phil lebeau on earnings watch.k market strategy with sam stovall of cfa. we'll start with dom chu and yesterday's selloff. the bulls try to reverse course. >> they made it a long way back. it was down 548 points at the lows as the day progressed yesterday, i remember sitting there either on the markets desk, on our news desk with "power lunch," everybody watching this move higher a lot of the concern was whether or not it would move off the lows they were very much not higher but off the lows the curious part about it was a lot of the volume we saw during the day was very front stacked during that selloff portion. and so traders look at things like volume weighted price it indicated that most of the selling pressure happened in the beginning. but if you are looking for places where people either found that deep value trade trying to buy off the lows or tried to cover some winning bets on the short side of things, it is places that have seen the most weakness so far. we looked at the s&p 500, looked at all the stock

revenue in that regard but on the cost side, that will be the big drag. >> phil, great stuff phil lebeaun we come back, the great rate debate. former fed reserve vice chair blinder will be with us. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. ♪ ♪ move to the enterprise-grade cloud that's built to handle all your apps. ♪ ♪ the ibm cloud. the cloud for smarter business. on the new sleep number 360 smart bed. it senses your movement and automatically adjusts to keep you both comfortable. and now, during our fall sale weekend special, the queen sleep number 360 c2 smart bed is only $899. plus, free home delivery. ends monday. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. >>> good morning, everyone, i'm sue herera, here's your cnbc news update at this hour north korea releasing footage of kim jong-un meeting with secretary of state mike pompeo pompeo saying he and kim have made signi

phil lebeau, phil lebeau joins us now you got the triple intro good morning >> good morning, joe there here in vance, alabama, just outside of tuscaloosa is because mercedes-benz will be further expanding this plan. we'll talk about that in a little bit it has to do with electric vehicles in terms of production of suvs, this is one of the global centers for mercedes-benz. for all the talk about tariffs and whether or not fewer vehicles will be exported to china, estes, they're looking at strong demand. that's why they continue to crank out as many suvs as they build down here. you have the vehicle exports, about two-thirds of what they build here, about 300,000 this year, about two-thirds will be exported 80,000 to china. why is the worldwide sales of suvs continuing to grow? the demand is there. especially on the luxury front record worldwide sales for mercedes suvs. up 5.4%. and luxury suvs here in the united states, you guys, up 9% for the industry this year there is clearly demand on the higher end when it comes to suvs for alabama, this is an important facility because alabama n

time for the power run down of car stories with phil lebeau first up problems from ford. what are they? >> reporter: the biggest issue today is that you got a couple of noted analysts, analysts who are widely followed who are out saying look we're not really sure what to make of these guys and until we really know, stay clear of this stock. morgan stanley cut this stock to equal rate with price target moving down $10. jpmorgan cut its estimate by 36%. ford reports earnings on wednesday and, guys, if we have this chart to show you here, if you show ford versus general motors, versus toyota year-to-date, it's not a good chart. an ugly chart as a matter of fact look at ford by itself this is just the last three months people are waiting to see what happens when they not only report earnings but where is the restructuring plan >> i looked at my notethis morning and ford downgraded to equal weight they downgraded it it sounded good me weakness in the global car market daimler lowering its forecast. what's the problem >> reporter: the biggest issue what's going on in europe. th

musk sent out that was the first time phil lebeau remembered them doing that, being responsible to theirreholders >> well, that's positive progress people can learn and regfd is a real problem for public companies. >> bob, i have to get your take on ge. flannery out culp is in we got the noncash charge on the power business withdrawing the guidance, and then today moody's putting them on watch for a down grade. how do you view them >> one, ge is a battleship and 13 months to turn around a battleship seems like a very short period of time now we obviously don't know what went on with respect to the execution, so that's an outside looking comment. the other comment i make is i have a fundamental issue with board members stepping in as the permanent ceo. it really kind of perverts the role of the board member to provide advice and counsel to the ceo. what's remarkable to me, we talk about the 13 months the ex-ceo was in place, the new board members and lead independent directors were there for seven months for them in that seven-month period of time, seeing exactly what's going on and a boa

we'll keep talking about tech in the future, but right now let's have a conversation with leslie lebeau joining us from paris thanks for being with us i was talking to elizabeth about the tech sector, some regulatory challenges i want your view on that we heard from tech executives in brussels about regulatory environment here in europe versus the u.s do you think that that would challenge facebook's business model specifically >> good morning. it's true if you look at the f.a.n.g. name and specifically to the parent company of google they face issues with the european commission for the last couple of quarters we had more and more tougher regulation when it came to the views of the data, the implementation of gdpr, so i think it will be behind us the action will move more towards the u.s. as the politicians will see what they can do and follow what european commission did >> a lot of investors are trying to figure out where we are in the global economy cycle one thing they look to is corporate earnings we had a lot of tech sectors earnings what insight have you drawn from those numbers

mike santoli is on set with us dominic chu and drew mattis are watching the markets we have phil lebeaumui will talk about the china tariffs. let's start with yesterday's selloff. >> the dow dropping 608 points the dow and s&p 500 are negative for the year, the nasdaq is coming off its worst day since 2011 let's check out u.s. equity futures. things a

let's send it over to phil lebeau in chicago for all the details.hil. >> reporter: sara, this will be a $20 million purchase that elon musk will be making of shares of tesla the next time the open period comes up for him to purchase those shares. this was announced this morning, and people often say, well, how often is elon musk buying shares and how much of the company does he own he owns about 20% of tesla shares and he's been buying tesla stock on the open market with regularity. in fact, you don't have to go back far to find him buying 20 million right now, june, 24 million, about 10 million in march. these are all announced when he would be doing the purchases and march of last year another 25 million, and these are outright purchases on the open market, separate from when he's exercising stock options and stock grants that's one piece of news fortes [ laughter ] the other piece of news, the company announcing it's bought land in shanghai this is where the company will be building giga factory three, the third plant where they will not only do

phil lebeau has more on the strategy >> reporter: jon, that is having impact on mercedes, all of thesuvs exported to china, there's a bit of a softening there. they're expanding here in alabama. we are here because this is job one or beginning of production of the gle, their mid size suv been very successful for them. they're also announcing today they're adding 300 jobs as they build a battery plant not far from here. that battery plant will be supplying batteries for electric suvs they plan to start building here in 2020 >> for our operation and say for the future of this plant and especially for the state of alabama, it is a fantastic thing. this is the only battery plant we plan on building in the united states. and it will serve all our battery needs for this operation here >> the auto industry is increasingly saying sweet home alabama. look at the map. shows you how much auto production from top auto producing states there are alabama is a top five state in terms of production. 9% of vehicles built in the united states are built here in alabama. again, as you look at shares of

shares spiked in after-hours trading after the first quarterly profit in two years was posted fill lebeau >> reporter: a luhuge third quarter for tesla as the automaker reports a profit of $2.90 a share, most on wall street or at least the con sen us wi consensus was a loss of 19 cents a share. this is their first truly profitable quarter in a number of years this time around it's about the model 3. revenue because of increased production and sales of the model 3 up to 6.$6.82 billion. the expectation was for revenue at $6.33 billion tesla says it has enough money to pay off debt in the fourth quarter. there's no indication that tesla is indicating a capital raise which is one more reason why shares of tesla got a pop after these numbers were reported. if there's no capital raise and if tesla can find a way to sustain this profitability, maybe not quarter after quarter but can grow from here, that's one reason why shares of tesla have been moving higher after hours. >>> nokia's quarterly operating profits have fallen 27% from a year ago and the firm announced a new cost cutting program th

. >> thanks, phil lebeau in chicago. is it fair to say that you can't bet against elon musk?scinating that the stock went right back to the level. >> yeah. >> prior to the s.e.c. lawsuit what does that tell you? right back to the level and there's nothing more added for improved corporate governance, for monitoring of his tweets, for new chairman of the board. nothing. nothing in addition. >> but i could come back and say there's nothing in there for potential doj or class action suits or the fact that, you know, one of those tweets or one of those letters circulating internally said we're folk close to profitability bulls one thing, bears another and a company with an enormous amount of risk around it i applaud elon musk for find it in his being for going down a road he had to do. >> karen >> yeah. i think that if you're in the stock and believe elon, you have to have elon to be in the stock. i think this is more than a bit of a net positive. as tim said elon was either being disciplined in doing what he had to do or else you saw somebody else telling elon, this is what you

phil lebeau spoke with the president and has more. >> general motors like so many of the automakers is realizing, as is honda, you can't do it all by yourself. if there's a chance to partner up or get another investor, then it makes sense so for general motors and honda, here is the partnership. honda will invest $2.75 billion in gm's cruise holdings over the next dozen years, including $750 million right off the bat so it takes a 5.7% stake in gm's subsidiary the goal, developing and building an autonomous vehicle what might that vehicle look like well, gm and honda put out a teaser image this morning. you might look at this and say what is that is it a truck, is it a delivery van? it's a little unclear at this point, as is the release date for when we might see this on the road but they say this week when it's ultimately built, will be sold worldwide. >> what we're doing is getting a purpose-built vehicle that's fully autonomous that can be deployed in a shared network for the transportation of passengers, transportation of other things and so we see a huge amount of opportunity and

chekt out united and csx pmt phil lebeau in orlando on united seema mody on orlando and phil we start with you and united >> melissa, i think analysts like what they say see with you knowed earnings and i just got off the phone with andrew davis, the airline analyst from t row price. he said look this was a good quarter. in particular he thinks most analysts will be impressed with the farr quarter guidance opinion the guidance from the fourth quarter up three to five%. most analysts expected probably closer to 3% they will be impressed that they are expecting great are than 3%. he summarized everything by say looking, the strategy appears to be working the strategy of adding more flights, more seats from smaller cities to united hubs. that's driving greater revenue we are talking about united ceo oscar munoz tomorrow morning on squawk box at the ual headquarters in chicago, talking with oscar about the strategy working, the fourth quarter guidance where they go from here back to you. >>> thank you very much phil le be airline holder tim kick it off. >> united to me is probably the wea

i was assuaged a bit that phil lebeau said as long as consumer confidence is high we should put up good car numbers or vehicles. but the stocks fell apart today off that ppg preannouncement in situations like this portfolio managers here's what they do, and then they ask questions later. ford and gm hit new 52 week lows, not reassuring many saw their stocks get pummelled from dawn to dusk which means full circle back to the fed. if all of these industries are having issues, if ppg which we learned is a big position of the nelson partners, if they are to be believed is there's no reason not to, then what the heck is the fed doing with the autopilot nonsense how can the central bankers talk about the strength of the any without you know actually getting their hands dirty and talking to ceos across a host of different industries i can tell you these executives are plenty worried that the fed has stopped doing its own checks again, this is not a -- they know nothing -- moment like 11 years ago where the fed was dead wrong. they know nothing! about the economy. i had to shout it from the roo

phil lebeau in chicago breaking down number from ford and tesla. both stocks trading sharply higher in the after hours session i don't know where we want to start guy. >> you start with ford revenue third quarter revenue miss i don't know if that's a big deal the guide for the full year is good you have to ask does valuation start to mark matter starks stocks up 5.5% bulls say maybe we see a turn around adam jonas from morgan stanley might say something else i'm inclined to fade the movement forward but maybe this is a bottom. >> the problem was we hadn't heard from hackett what the restructuring plan and all of a sudden we have a better than expected quarter and raise that solves the problem. >> it doesn't solve the problem but people maybe the right reason maybe not we are past peak the sellers in autos. people considered the auto makers guilty until proven innocent on eps ford on a trilg 12 months is 5.7 times earning that's crazy cheap with a 7% dividend yield at some point the earnings matter but we are concerned about structural issues with t