>>> in kansas city, missouri, i'm morgan brennan. in the american icon cross hairs of the bigger global trade debate. we look athe rough road for harley-davidson coming up on "nightly business report." >>> listen to this. a s figure salary in san francisco is now considered low me. that's according to new figures from the department of housing and urban the threshold to qualify for low income assistance for a family of four is now $117,000. the highest in the nation and in may the median homerice in the bay area hit a record $935,000. >>> lyft is beefing up to bitter competethe likes of uber. the ride hailing company has now rais $600 million in new money from investors and get this, that now value that's company at $15 billion. that is double the value from just a year ago. uber plans to go public sometime next year, but lyft's ideal plans are less certain right now. >>> harley-davidson has come under fire from presidentterump announcing plans to move some production overseas. one plant in kansas city is set to close this year with

morgan brennan is with us from a harley-davidson plant in kansas city a lot more from morgan later thisr. first up, though, this morning the trump white house announcing a pivot in its approach to restricting chinese investments in the united states our kayla tausche is in washington with all the details. hey, kayla. >> hey, carl the administration decided to forgo investment restrictions targeted specifically at c, which the president directed treasury to study in march but instead it will lean on an expansion of treasuries existing authority to review foreign transactions that may pose a national security risk there is bipartisan legislation moving to do just that and a version passed the house yesterday 400-2. the decision removes a tool the president and hardline advisors sought out in dealing with china and the treasure secretary argued on cnbc that unlike investment restrictions which would have taken time to craft and implement this approach creates more clarity. >> this doesn't create more uncertainty. again, we will publish regulations, we will provide clarity. we're clear that

morgan brennan has our cover story. ♪ >> reporter: it's 9:00 on a saturday night and we're riding alongith miami beach cod compliance on the lookout for illegal short-term rentals. >> what are you looking forward tonight? >> hopefully establish contact if its occupied and determine what is the violation. >> reporter: code compliance officers have seen it all. this officer, large, late-night parties in residential neighborhoods. scantily clad women and short-term rental complains. >> miami beach code clines. >> reporter: and unwitting tourists who say they unknowingly booked them in these areas. >> this is messed up. >> reporter: all captured on camera videos recorded over the past two years. >> hello >> reporter: some so blatant, what to do if someone asks told to lie saying they're a friend and don't mention they rent this place. >> you're not allows to rent this house for less than six months and one day. >> everybody needs to leave. >> this party needs to clear out. >> reporter: and a loud party in california, in the san francisco bay area, shots rang out [ gunshots ] guests seen on

i'm morgan brennan. >> and you don't underestimate here and face her either if she wins, she wins. and her business sense helped her land endorsement deals with reebok, monster energy drinks and metro pcs and even harley-davidson. that is our show for today i'm becky quick. thanks for joining us. next week it is not your typical summer camp, the woman teaching warren buffett method to a camp in the inner city. keep it right here "on the money" and have a great week and we'll see you next weekend >>> hey there. live at the nasdaq on this expiration friday. the guys are getting ready behind me. while they're doing that, this is coming up on the show. >> snap out of it! >> shares of snap did just that. rallying over 20% in the last month. if you missed the move, we have a way to get long from less than $1 >>> plus, micron shares have surged 20% this year but carter worth says there's something in the chart that suggests now might be the time to take profits.

. >> our morgan brennan is live in kansas city outside a harley plant. e company is set to be closing this year. good mor, morgan >> reporter: hey, sara good morning like it or not, harley-davidson has become a lightning rod in the global trade debate. stock down 6% this week. it's been a rough week for harley-davidson. you had first, the company saying it's going to have to move some production overseas of the motorcycles it makes that are destined for europe. the second biggest and fastest growing market because of the retaliatory tariffs. and president trump coming out slamming the company for the decisi decision, including thistweet. 800 people work here some of the operations will move to pennsylvania only 400 jobs will be added. harley wll yous story, is clo has nothing to do with the eu tariffs and it has nothing to do with the plan to build this new manufacturing facility in thailand the reason they're closing this is because of slumping sales most notedly in the u.s. which is the biggest market as baby boomers age and newer generations don't seem

i'm morgan brennan in arlington, virginia joining me exclusively is the ceo and chairman of raytheon,nedy. thanks for joining us today. >> thank you for having me on. >> news of the day, trade. when it comes to defense contracting, you're not necessarily selling weapons to china. but when you talk about something like steel or aluminum tariffs and the impact on our allies, how does that affect raytheon >> you're absolutely correct, we do not sell any products to china so we're not impacted by any of this tariff issues with china. the -- in terms of steel tariffs and aluminum tariffs, most of the steel and aluminum products we buy are from u.s. companies so we're not impacted by that either >> are you at all concerned that what seems to be flaring tensions with some of our allies, canada, europe, et cetera, that could impact demand for some of your products? >> the reason they are protecting our products is to protect their sovereignty. and we have the solutions to essentially solve that problem for them and so they come to us for the solutions irrespective of the tariff issues and oth

used to bring good things to life today it announces more details about its restructuring plan morgan brennanwith the new york stock exchange with that story. hi, morgan >> thanks, melissa well, spinoff the health care business, exit baker hughes, derisk ge capital, cut corporate's footprint. this is part of the long-term strategy unveiled by ceo and chairman john flannery today to turn around the struggling industrial company. >> ever since the pain my life savings is in the stock so i have the same sort of connection to the issue. the second thing is we've gone through a tough patch. we've faced into the issues. we're dealing with the issues. we have a plan we know where we want to go stay tuned if for ride here. >> how he plans to get there, health care becomes stand alone. that's the process that will take 12 to 18 months, going the exit baker hughes over the next two to three years remember, ge merged its oil and gas unit last year, similar deal under way at transportation right now as well. the results, a quote simpler stronger ge. one that is focused on aviation, power, renewable energ

morgan brennan joining us from the new york stock exchange. any interest at this point in general electric i understand you have had this conversation many times on this show as we have on many other shows this time is a little different because we have sort of what a road map would be for the new ge jim. >> so i'm going to thaw a little bit, but let me be clear i'm not buying it today. but it gets interesting. now you have to raise an eyebrow. the problem with today's news is it confuses balance sheet with income statement they're cleaning up the balance sheet a little bit there's still going to be questions, are there any surprises not withstanding what mr. flannery said, but the big question is what is the earnings power? that's the question all of us had on the desk. right now, people think it's going to earn a dollar a share that's been questioned from the st now as you're splitting it up and you have questions of what's allocated to what section, what it means is it's going to take a few quarters for the clarity to really come into the i

for "nightly business report," i'm morgan brennan at the new york stock exchange. >>> s i the worst over for the stock? it is the question that many long-timeshaer holdersinly want answered. with us now to talk about that is scott davis, ceo of the research firm melius research. welcome. >> thank yo pp o y beyo tur fir m. hashe beenre calling for a tll breakup of ge forsome time now. s good enough? >> i think it's what we're going to get. i mean, i think it's as best as we could have expecte given that a full breakup would have included the power business which i don't tndnk could s alone right now. it's not strong enough. aerospace great business that's left, health care business. it's going to be a good show. >> mr. flannery said ultimately our mission is better return, le cost, less bureaucracy and we're going to see a dramatic change. does this plan,o you think, achieve less bureaucracy and better returns? >> yes.we i mean, the a is yes, but you didn't have a choice. the company was so big, how do you take costs out and bureaucracy something? it is just so broad. think this gets it d

i'm carl quintanilla, morgan brennan, jon fortt dick costolo, good to have you he was able to listeno julia boorstin wrapping up her interview with snap chat ceo evan spiegel. >> isn't it uncanny how much evan and i look like each other? that jumped out at me while i was watching that. >> the thing that people need to understand about snap is irrespective, they have a ton of daily active users and that should drive more than enough inventory to be the growth driver when i look at the user they have and the current revenues they are if the programmattic advertising works, second price options and yield optimization, they've got a lot of revenue growth there, even before growing users. >> is that a bigger, broader vision thing spiegel talked about revamping android, for example. >> it's a good question. what we'll know in the next couple of quarters, the programmattic rm is ether they've got a technological issue with their platform that's not good enough in not allowing advertisers to spend what they want to spend or is it just that advertisers aren't used tot yet? and they're startin

i'm carl quintanilla with morgan brennan and jon fortt at the new yorkck exchange. >> we are lookingorward to the at&t/time warner decision. of course, all this news about the nuclear summit we'll deal with a lot of that. let's get straight to that historic meeting between president trump d noh korean leader kim jong-un, taking place overnight in singapore michelle caruso-cabrera is there and joins us with the latest developments michelle >> hey there, jon. the president said he will suspend the military exercises with the south korean military they happen every year as a signal and deterrence to the north koreans. it's pretty clear. we went back and listened to everything that the president said about the decision to suspend those military exercises. it's not clear he thinks it's a concession he just doesn't like how much they cost. >> we will be stopping the war games, which will save a tremendous amount of money we've done exercises for a long period of time, working with south korea. and we call them war games and tremendously expensive the amount of money that we spend on that i

i'm carl quintanilla with morgan brennan and jon fortt at post nine on "squawk alley. o, chairman amerituameritu emeritus good to have you. >> good to see you again morgan, it's a pleasure. >> halfway through the year, tech is a huge story as we close out the first half, netflix up over 100% as you know with names like twitter and trip adviser also leading the pack. john, i wonder if you had to put together a playbook, even conceptionally on tap for the second half, what would it look like >> if you look at the numbers for the first half of the year, i think there were close to a little bit over 100 ipos, 81 on the nasdaq as an example i think you're going to see about the same number in the second half of the year. it's a good year for ipos. you're starting to see the unicorns pick up speed the u.s. isn't as dominant as it was just four years ago. we used to have 61% of the unicorns we now have about 40 a number of companies, four of which i'm involved in already a unicorn or getting close the growth is amazing, carl, 50 to 100% a year i think the pipeline of good ipos

morgan brennan is live at the new york stock exchange with the details.siastic market reaction. >> yeah. sara, that's right ge is announcing a $3.25 billion sale of its distributed power business to take over firm advent international now covers ge power's yen bjenb and waukesha engines the deal, which is the latest in the broader strategy to divest at least $20 billion of assets by the end of next year, this is a move to shed non-core businesses as the struggling industrial tries to turn itself around this is the latest deal among the sales that have been struck under flannery so far. you've got industrial solutions for $2.6 billion, health care i.t. for about $1 billion and also that complex $11 billion merger of the transportation unit with wabtec through which ge will receive almost $3 billion in cash up front. still on the block, you've got lighting and current, which is the energy management business ge has also said in the past that some smaller aviation platforms are up for grabs as well and meantime, today, also marks ge's last day as a member of

i'm carl quintanilla, morgan brennan and jon fortt. story this hour, supreme court upending the nation's internet marketplace, ruling that states can collect state taxes for most online retailers. courtney reagan joins us. >> a big decision from the supreme court today, effectively reversing the pass precedent from the court, when it comes to collecting sales tax from consumers when purchases are made online. so south dakota asked the court to change its 1992 decision that, at the time, sellers don't have to collect sales tax from a buyer if the seller didn't have a physical presence in the state of purchase. this, of course, before e-commerce was a true reality and part of our everyday life. today the court has overturned that 1992 decision with justice kennedy writing the court's p v prevalence have changed the economy, justice clarence thomas saying he was wrong about his decision requiring physical presence 20 some years ago while chief justice roberts disagrees with today's decision. smaller businesses that were using that 1992 de

welcome to "squawk alley i'm carl quintanilla, morgan brennan is back along with jon fortt.ing to come off the worst levels of the session. s&p is holding 2700, which has a lot of people interested pharmacy a big story today as amazon buys pill pack and has a lot of these names on the run today, guys. >> we don't even know how much they spent and i don't think a lot of investors have necessarily dug into what sector of the market amazon is detecting. you scream amazon in a crowded theater of investors and people run. >> cvs and walgreens in terms of a percentage lower that they're trading today. i think it's interesting you get this news when you have the news from amazon announcing its last-mile delivery service when you're talking about something like online logistics for pharmaciy, that is part of the story. it's high margin, highly sophisticated business to pack all those pills and ship them out. >> crude is zeroing in on $74. >>> we have breaking news from the white house. eamon javers is in washington today. >> reporter: clarification from the state department on irani

. >>> good morning, i'm carl quintanilla along with morgan brennan and jon fortt. stocks are mixed with tech lagging today as the nasdaq son pace for its first weekly loss in five weeks. that, of course, as yesterday's scotus ruling continues to weigh down online retailers. suntrust, brent fills at jeffries on this friday morning. good morning, guy. >> good morning. >> good morning. >> investors looking for paths here because industrials, obviously, get iting buffeted by tariff worries and now you've got tech, oracle here, red hat there. are you seeing the number of options dwindle? >> look, i'll focus primarily on internet names i can tell you the trade worries are not as much of a problem for internet names regulation is more of a problem and, obviously, the supreme court decision yesterday could also be another concern that investors will have to deal with generally fundamentally this group continues to do extremely well channel checks would indicate whether you're talking about advertising or e-commerce trends, we'll continue the trends we saw throughout q1. we

i'm carl quintanilla with morgan brennan and mike santoli ceo of business insider and recode's executiveditor, kara swisher. shares of 20th century fox hitting all-time highs, comcast sets up a possible bidding war for the bulk of the company, offering $65 billion, 35 a share for those assets, which includes fox's movie studio, fx, net geo. it it does represent a 19% premium to disney's offer made in december. brian roberts talked about all of this on a conference call last night. >> when i think about fox, it's rupert murdoch, his family and what they've built, one of the world's great media and entertainment companies. their work as strong entrepreneurs and prudent acquirers bears significant similarities with comcast's own history. >> let's start with you, kara. how interesting is this setup here do you have a road map to where you think this ends? >> seems as if comcast is the big bid. it's a lot of money. i don't know if rupert murdoch comes with the deal. you get him when you come in it will be tough for disney to compete with it in terms of money and power to do it that said, rupe

i'm carl quintanilla with morgan brennan and jon fortt. straight to the top story, that is the summit with president trump and kim jong-un. discussions between the two are ongoing and have moved more quickly than expected. michelle caruso-cabrera is in singapore for us today and joins e again with the latest. hi, michelle. >> reporter: hi, carl. the hotel behind me is where kim jong-un, secretive leader of north korea went out sight-seeing asight-see i isight-seeing the largest glass, the tallest waterfall, rain forest dome, a wat waterfront park with futuristic installations, it's described. reuters reported as his motorcade came in yesterday when people took pictures, security guards, unclear if it was singaporean or north korean security guards, would actually take phones away from people and demand that they delete photos they very much tried to control the viewing of him now famous security guards jogging alongside of him that we've seen multiple times when he does ride in his motorcade. once again, appearing in front of the media the

morgan brennan has the morning off.y day today for the likes of apple and amazon we begin with the news of starbucks executive chairman howard schultz leaving the company, stepping down from his role andrew sat down with him this morning on ""squawk box"." he joins us once again to wrap that up. good morning, andrew. >> good morning, carl. it was a big day in seattle, howard schultz stepping down after his tenure after growing starbucks around the world the big question and issue is the speculation about what he's going to do next he has said that he will pursue, at least, exploring some form of public service, which has led to lots of questions as to whether he will run for president in 2020 he has said he did not make a decision yet but had a lot of views about public policy in this country take a listen. >> i've been engaged in a number of, i think, very important issues that are facing the country and trying to advance the cause of the national conversation about such things as iigration, as an example. let's just t

i'm carl with morgan brennan and n fortat the new york stock exchange busy morning, obviously, on thet front and pretty soon on the interest rate front as we wait for the fed decision in a few hours. >> absolutely. tomorrow we get ecb as well. this week is going to continue to move forward with a lot of activity, even with the dow barely moving right now, ahead of that decision, up about 7int >> big talker of the day, big approval for at&t's time warner buy, shining a spotlight on other media acquisitions 20th century fox trading at a new high comcast expected to make an all cash offer for the same yasz sets that disney is interested disney three month high. the pending sprint/t-mobile merger, and verizon might buy, we're joined by walter isaacson, advisory partner and former chairman of cnn, and roger mcnamee with us on set, elevation partners co-founder and early facebook investor. what a day, we will begin walter, i guess, are you -- do you applaud judge leon's decision did you expect it this way >> i expected it this way because you and jon fortt both said it on the show a few tim

i'm carl quintanilla along with morgan brennan and john fort at post nine. gains for june are gone. dow son track for the lowest close since the beginning of may. let's get to bob pisani for a closer look. good morning, bob. >> good morning, guys. good news is that we're off the lows the bad news is not by much. s&p 500, 2717 was our low moments ago. we're off of that, but the problem is very simple take a look at the sectors here. not only are the usual names affected by the trade concerns -- i mean industrials and materials, transports, for example -- but a broader tech group is being affected. metals and mining, transports are classic industrials, materials. they're all affected by the trade names. semi conductors, probably the worse day in two or three months here all the big names are down three, four, even 5% in the case of advanced micro. momentum names, your classic faang names are all down roughly 2% facebook, google, amazon, other names in that group, apple all to the downside as well. then you have what i call faang plus names alibaba, nvidia, bai

falling yesterday amid those global trade tensions the ceo of raytheon, thomas kennedy, told our morgan brennanmorning that while his company remains isolated against the current trade and tariff threats they are concerned about one threat coming from kleichin. take a listen. >> a big concern for the united states and many countries throughout today, in fact, that china is actively trying to steal and take i.p. and it ties into the fabric of you are nation and innovation the patents that we create and taking those patents and those technologies and then creating products and solutions that create jobs in our country. it's a very important issue and it's an issue that must be addressed. >> is this the right way to address it >> i think the right way to address it is we've already -- the president has put out a memorandum on this relative to china and i think we need to, you know, stick to our guns relative to that and ensure that china comes in with the rest of the world in terms of protecting i.p. >> you mentioned patents you were in the oval office yesterday to sign the 10 millionth patent in

i'm carl with morgan brennan and n fortat the new york stoc

i'm carl quintanilla with morgan brennan and jon fortt. the top story, that is the summit with president trump and kim jong-un. discussions between th

i'm carl quintanilla with morgan brennan and david faber. at the stock exchange.q this time that is red on some negative news last night out of redhat. >>> our road map begins with paranoid declusions. that's what chinese media says the u.s. is suffering from >> opec reaching a deal this morning. we'll take you live to that meeting in vienna. >> and new eats at chipotle. unveiling a new menu lineup. a look at the company's new strategy straight ahead. >>> first up, the dow looking to avoid its first nine-day losing streak since the '70s as trade rhetoric does heat up. the china daily saying the u.s. is suffering from, quote, paranoid delusions joining us at post 9, pimco's portfolio manager tony, along with credit suisse chief u.s. equity strategist jonathan good morning where do you think we are in this whole discussion? are we watching a white house that's doubling down and is trying to gauge how much pain we sustain versus our trade rivals? >> i think the big question you have to ask is, are we really going to go into a massive trade war? the answer is no in a

. >> morgan brennan is covering it. >> i've spent some time in factories. >> yes i think the point davidctly right. we're talking about aviation, power, and how, you know, sort of implied in this they're breaking apart renewables and looking at the stand alone as part of this newer, simpler, stronger ge that seems to be the message this morning at's exactly right when you're talking about production and you talk about manufacturing, a lot of synergies between those two. note worthy when it comes to tension obligations and liabilities. a lot falls on the two divisions, as well part of the reason capital remains within that reimagined ge, they did say they're going to stream line that. in terms of health care and spinning it off. we have kpashls in the market. most recently siemans this is probably the most direct kpashl to that they did note in the call, i think it's wrapping up now, that about $18 billion in liabilities and pension obligations will transfer to the new stand alone health business. that's note worthy and the other thing that jumped out is the idea that flannery said aggres

morgan brennan has the morning off.ple and amazon we begin with the news of starbucks executive chairman howard schultz leaving the company, stepping down from his role andrew sat down with him this morning on ""squawk box"." he joins us once again to wrap that up. good morning, andrew. >> good morning, carl. it was a big day in

morgan stanley >> brennan: we'll be righted back with lot more "face the nation," so stay with us. maybe you could save energy by weaving your own shoes... out of flax. or simply adjust your thermostat. do your thing, with energy upgrade california. >> brennan: we are just over five months away from the mid term elections and today we are kicking off our battleground tracker poll with the cbs news director of elections and surveys, anthony salvanto. good to have you here. typically, party in control of the white house often loses some seats with these congressional races. democrats seem to be banking on a blue wave to retake control. is it that clear cut? >> it is not that clear cut. toss up. today the election wera democrats are poised to guarantees, you're right about theye out party, typically the out party does get some seats. we think they would get enough to just barely take the majority. we estimate they get 219 seats, it takes 218 to control the house. so it's that close. we think that as we go along we're going to see this go back and forth. we think that the house could c

in the cross hairs morgan brennan is live she joins us now >> that's right.ey-davidson stocks down 6% so far this week that's after the announcement that they would shift production due the tariffs there europe is the company's second biggest market then of course president trump taking to twitter afterwards to slam that decision now, among the tweets this one that came out, earlier this year harley-davidson said they would move their operations from kansas city to thailand. that was long before tariffs came out shows how unbalanced and unfair trade is but we will fix it now enter the factory that is behind me here in kansas city which harley said back in january it would close next year this facility employs 800 people it's only going to hire 400 new positions there. harley will telt you that this story, this closure has nothing to do with eu tariffs. and that this really has to do with the fact that sales are slumping parlarly here in the u.s. it would also tell you it's not connected to thailand. but all that being said, it is basically a 1-2-3 punch. the

morgan brennan joins us in chairs today with the story.aw a lot of tweeting, trending. >> yeah. >> the name maybe? the force be with you, space force. >> it's a very dynamic name for sure let me say, this is exciting i never sat in welcome to chairs >> we don't just invite anybody to chairs. >> at the national space council meeting president trump directing the pentagon to begin the process to establish a space force as the sixth branch of the u.s. armed forces. >> that's a big statement. we are going to have the air force and we are going to have the space force separate by equal. it will be something >> the president floated this idea since march but the ball is in motion. dana white saying the d.o.d.'s policy board is taking the issue up they say working with congress this will be a deliberate process with a great deal of input from multiple stakeholders that's the key here. the president can advise or direct the joint chiefs of staff to do this, to take this up. it will take congress to write the law and carve out funding. this will be

morgan brennan has more. >> what a morning it's been. take a look at shares of ge right now.5% pre-market on this news investors, wall street have been looking for this longer term plan, this longer term strategy to be unveiled for the last couple of months finally getting it this morning. a lot of headlines here. ge of the future ge says it's going to be aviation power and renewable energy business. it's going to spin that ge health care unit into a stand alone company over the next 12 to 18 months it expects to monetize 20%, distribute the remaining 80% of that health care to shareholders tax free it also is going to fully separate ge baker hughes over the next two to three years. that's exiting that stake it has had since that merger situation last year. now, in terms of the dividend and dividend plan because that's been another big focus, plans to maintain current quarterly dividend at that time, new ge health care board will decide that company's dividend policy also at that time the ge board is expecting to adjust the ge dividend with a target dividend policy that is in