we've heard marc benioff and larry ellison trade barbs many times. in dire straits, as benioff seems to think it is? >> we are in a wonderful place. that was a long time ago. i've been with salesforce five years. i couldn't be more thrilled to be here, working with marc. i'm excited for the future of salesforce. emily: who is the competition? >> there is competition in every element. there is a different type of innovation that could enter our space. our category of crm continues to broaden. we see competition, but look at our results. we are the category leader in segment fastest-growing of enterprise software, growing at twice the rate of the market, taking share, operating at scale, growing at scale, executing at scale. at the end of the day, our job is to focus on our customers. we have over 30,000 employees. a wake up everything with a and their focus is on driving customer success. if they take -- they wake up every day with a focus on driving customer success. emily: what are the industry sectors we will see you target? >> financial services h

it has promoted keith block to run the company alongside cofounder marc benioff. he serves as vice-chairman and will remain a director. coming up, daily active users on the decline. are snap's best days behind it? we will discuss next. if you like bloomberg news, check us out on the radio. listen on the bloomberg app and in the u.s. on sirius xm. this is bloomberg. ♪ emily: on tuesday, snap posted quarterly revenue gains that show it can compete in the mobile app market dominated by facebook and google. the catch, snap reported its first ever decline in daily active users. that worried analysts who were looking for rapid growth, yet snap did win the approval of prince al-waleed bin talal, who has taken a big stake. has snap hit its peak, or is this a bump in the road? for more, we have an analyst who has a perform rating on the stock and our own david kirkpatrick. how substantial is this decline in users? >> it is not a great surprise. they warned us some changes they made to the app caused disruption. the question investors are asking is can they return to growth

and coo keith block to the co-ceo role giving him shared leadership with chairman and co-founder marc benioffk is largely focused on the operations of the company. >>> novo nordisk's second quarter earnings in line with forecasts. they say they won't raise prices in the u.s. the rest of this year shares are off 5%. >>> and hostess brands second quarter earnings beat estimates, revenues came up shy the maker of twinkies is cutting its earnings outlooks for the year citing inflationary pressures and lack of promotions >>> in other corporate news, amazon is launching curbside pickup at whole food stores. amazon can place orders by the prime now app, have them loaded this their car when they arrive. that service is available in sacramento and virginia beach with plans to launch in other cities later this year pick up in an hour is free with orders of $35 or more. >>> cigna is calling out carl icahn. icahn says the proposed merger with short sighted we'll hear much more about this from cigna's ceo, he will be here on "squawk on the street" today at 9:40 a.m. eastern time. a huge interview you will

he will work along side founder marc benioff. they will report to the company's board. of operations. benioff will lead technology, marketing, shareholder engagement and culture. they have known each other since 1986 when they both started in the tech industry with oracle. >>> concerns are being raised about smart phones invading people's privacy. there are reports that smart phones collect data in order to hear a trigger phrase such as okay, google or okay siri. apple says the iphones don't listen to users without their consent. they don't record sounds and customers have to explicitly approve the microphone recording device. i'm pam cook looking at your dollars and cents. >> thank you. >>> time is 7:55. the mendocino complex fire just keeps growing. impact it is having on the bay area's air quality. >>> in just ten minutes, we'll be joined live by london breed. the issue she continues to tackle as san francisco's brand new mayor. >>> as we look at the commute, things are getting a little bit more crowded on some freeways. this one looks pretty good. highway 92 on the

focused on the company's operations >> you know, the only ceo who tweets more than elon musk is marc beniofflysis. >> interesting less controversial tweeting though >>> now to the story that still has investors talking this morning. tesla ceo elon musk saying he's considering taking the company private. he confirmed his wish for a private tesla. and joining us right now, a look at the regulatory side, harvey pitt former s.e.c. we say hello to him this morning. harvey, good morning >> good morning. >> help us with this there's always the question of can you announce these things by twitter or not i'm not going there. what i want to know is when he said in the tweet itself that financing is secured, from a legal perspective, if you're at the s.e.c., what does that actually have to mean? >> it has to mean that he already has secured a line of credit that the contingencies with respect to any line of credit are not such to make it questionable whether or not he can actually obtain the financing that he has promised the world he already has secured. >> and separately, when he says in one of the o