netflix. netflix doesn't put movies in movie theaters for 65, 70 days and then try to put them on dtc, they use content directly into the streaming service to drive the new subscribers. and so you mentioned before or maybe julia that they raised price on netflix last year because they added more value. so if the bulk of content, the huge amount of content on netflix has allow ared them not just to drive subs but to dri pricing and that drives valuation. and i think for disney, we have to move from this being something that you charge essentially the average arpu is around $5. how do we get that to be a meaningful, meaning 7, 8, 9, 10, twechl doll 12 moves moving original filfilms, i thi that could drive the $15 plus. hopefully we'll get a sense on december 10 whether that is the direction they are going and how wedded they are to that see he gwenn shal release pattern >> and so rich, when you said before that now basically a centralized place within the walt disney company will decide where to put that content in order to drive the most value, how is value per seefed? you gain an x number of subs or say that gchlt number x number s creates value. how do you think they will navigate that? >> we did a study recently that showed that netflix rev

you know probably artificial intelligence in fact is already doing this with with netflix netflix not only are there recommendations powered by artificial intelligence but some of the program e some of the show development in creation is now being powered by data that they have about how you and i watch their shows and what what appeals to us and so i think it's kind of a matter of time before traditional television starts becoming so personalize it starts to suck our attention and in those sorts of ways i think traditional t.v. just isn't nearly as good. as social media is kind of stealing our attention. you mentioned before we started this interview about america being poly arise like never before and i said well the world is poller america here's the thing you also said the political consequences of social media are scary that the way this goes not could lead to a civil war but we once again i'm going to bring up the traditional media like fox news has been around so. 1906 and there was no facebook or you tube and the media was already paul arising the landscape because i think sty

ton of content on netflix anyone who says they have gone through netflix either has to find another hobby or is just lying. there is a ton there but i think the problem with the netflix is still one of the best companies on planet earth, they will continue to benefit from secular trends, but there is a lack of catalyst heading in to 2021 the release schedule will be lighter than normal and then what do we have to look forward to in the next 6 to 12 months because of the production delays you highlighted. and i think that there is probably other opportunities in the market and i think that is what will create problems in the stock in the near term is just lack of material kind of catalyst and then on top of it, really just kind of hopefully our lives returning to more of a normal environment and thankfully it seems like the vaccine headlines will continue to be more emerging, which dente trade. >> uk top scientists telling parliament that covid will probably become the annual flu that we'll have to live with so aside from the stories on cnbc.com right now by the way. that aside, nobody doubts net flinks netflix a great company, but they don't always make great stocks

netflix's heels. amazon with prime subscribers, and then there is a slew of wannabes that are filling the streamer gap, making it more difficult for netflix. what the real issue is is what are the consumer is going to do? they are going to hold onto netflixnd maybe one or two others, but there's going to be a significant amount these streamers are going to face and that is the unknown. who is going to survive, and how can you make a profit out of just dreaming? class that has been my strategy as well with netflix and hulu, which streaming services to keep. i want to move the conversation along and just hone in on what you are saying when it comes to turn. -- churn. asia seems to be coming back to more daily normal life and perhaps more in europe and so forth. >> closing down in europe and latin america, too. they are suffering a lot more shelter-in-place conditions than the and the u.s., and subscriber growth, as i said, is what seems to drive netflix share prices. it does not make that much difference to an investor if they are making a profit, but if they don't have content, and subscriberhave the base staying at home, sheltering in place, then it's going to be a very, very tough early 2021 for netflix. one radical idea that i think th

retailers feeling zeen netflix drops in earnings after mitting their mark >> netflix shares plummeting reporting its biggest earnings since it went public it was 19% short of expectations netflix all important was anticipated. looking ahead to next year, netflix is looking at tough comparisons. >> sorry hopeful ho a note -- the ceos saying in their letter to shareholders that they remain healthy and engagement per member household was up solidly. that was key that means they shouldn't see any downturn with a growing number of other players, including disney, net flicks has its video call and it starts in about an hour. >> julia has the latest. with that call getting under way in about an hour we are in the zone we have the stock reaction, shareholder letter is all we have to trade on one highlight to me, tim, was that they expected it. they talked about it before, that there was pull forward from the back half of the year. why are we so taken aback here >> because it is a growth story and priced to perfection i have been out there thinking that netflix was overpriced. i have largely been wrong for a long time. if you look at the year over year subs, they were 6.8 over a year t

netflix. b >> netflix was a disappointment, but by and large this has been a spectacular earning season let me show you some of the other winners besides netflixumbers overall. teradyne, tremendous numbers and nasdaq, tremendous trading going on, of course, in the last few months they've reported great numbers on top of that let me show you one problem. texas instruments, a company i follow, a real bell weather. earnings and revenues, huge beat for them q4 guidance above all the expectations automotive was strong, personal was strong here. here's the problem great numbers. look at this, the stock is not moving this has been a problem with a lot of these companies reporting great numbers, but the stocks aren't moving that much. and that's part of the issue here so we've got about, oh, 20% reported, 85% beating expectations by wide numbers, almost 17% but we're still not seeing a move up. and look at the s&p 500. it topped out august 12th, the day before earnings started and you see it's been going century nowhere. we need to get stronger moves on the upside on top of these great earnings reports, guys, back to you. >> still got a lot of numbers

netflix shares down. talk to us about the numbers. abigail: tale of two stories between netflix and snap. netflixown sharply, poised to make an even bigger drop as time goes on. investors not pleased that they missed third quarter subscriber estimates. they whisper number closer to five. fourth quarter guidance, also disappointing, 6 million new subscribers to be added versus the estimate of more than 6.5 million. it looks like there is some netflix fatigue. the first quarter was huge. they added nearly 16 million subscribers. maybe some investors got ahead of themselves with thinking they could put up big quarter after big quarter. as for snap, not so much, up more than 20%, poised to open at a record. atly active users came in $249 million, beating the estimate also for 19% growth. the potential for a record high for snap. netflix, it could be a very rough day tomorrow. emily: we will be digging into netflix a little bit later this hour. turning back to our top story of the day. the u.s. justice department launching a landmark antitrust suit against alphabet's google, accusing it of abusing its

netflix show. the first one was pop, right a pop original, yeah, a lot of us are watching pop. next one is a youtube show originally nobody got to know them until they were on netflix >> we regard -- look, i got the big screen the huge screen, right and the first thing, it sends know netflixflix is everything. it turns out i also have amazon prime on there holy cow that's how i found "the boys." you're right, there is netflix is synonymous with -- >> with television. >> with television. >> yeah. >> with television >> yeah. >> in how many years, carl how many years did it take to up end what david built >> not long, jim relative to the history of viewed content, they point out that disney plus, this is pivotal, is a -- is compleme complementary to netflix every additional service that comes out feeds the overall process of cord cutting, which eventually in their words leads to netflix. >> yeah. look, the market cap, anybody could -- i got a real question for you. why did i have to wait weeks to get directv for the football package if directv is not doing well why? >> i don't know the answer to that >> could it be because they're incompetent? >> maybe i don't know did you know i was about to do a story on directv maybe you did. >> no, i just had -- i had my bud buddy -- i l

how does that impact netflix, and not just netflix, but the other streaming services too >> well, i think that's another thing to really listen for on this earnings call because netflixed to catch hbo, which they did then they wanted to become the whole cable bundle which they have been, and now they're after becoming this huge movie industry power house, and while the movie theater industry has basically been closed down the and the major theoretical releases are delayed to the second half of nekd year, axt yo the studios have been selling their less than block buster movies to netflix. netflix has original movies coming out they have become the place to go to for new original movies now, and that's going to have further impact coming out of covid on movie theaters being able to reestablish themselves i think what movie theaters should do is begin to have some kind of broader relationship with netflix so that all the netflix original movies can have some broader theater opening for some short period of time because the legacy media companies are increaseingly going to be looking to their theoretica theoreticals -- thee >> tom, great to see you this morning, and we'l

he comes out -- >> wasn't it netflix >> netflix yeah, he got that one wrong. he's going to be right for, what, 48 hours, carl god love him he'll be right until monday, maybe tuesday in the wrong guy wins whoever the wrong guy is, i don't even know anymore. >> what does that mean >> well -- >> stockwise, you don't know anymore. >> i see i see. >> this politico piece last night arguing that elizabeth warren will lobby for treasury if biden wins, how should banks react to that. >> they already reacted. they go down every day elizabeth warren is not a big fan. i remember when i first met elizabeth warren, she had jamie dimon's -- his year ly epistole that he does and she didn't regard it as being the bible she is measured with the banks we put up there versus wells fargo. >> right >> wells fargo is not -- is not a stagecoach >> no. that's interesting story, i have no idea if she would be successful in that lobbying campaign we can talk more about this a week from now if and when we know who the winner is. >> she wanted to break -- >> not speculating who may take c

netflix reports tomorrow. discuss, mark mahaney. netflix has been a pandemic winter but last quarter did not quite meet expectations. what are you expecting this people areven that watching netflix, given that many of them were several months ago? mark: you are right that this will be a high bar quarter for netflix. it is widely perceived as being a covid winter. the question is how much more sustainable these trends. million subsor 2.5 for this september quarter. right now, all-time highs. , a number that is almost double the guide. we think if they do that and they guide constructively for the fourth quarter. the other question that people , it is listening for pricing. worldwide price increase. we will see if they can announce one in the u.s.. our guess is that it will be eight 2021 event. -- it will be a 2021 event. emily: some of the moves the competition is making, i am thinking about disney, the restructuring to give streaming more of a priority. what does that mean for netflix? mark: i think that netflix is highly insulated. survey work we have done shows that increasing numbers of consumers do not just want to buy one streaming service. 50% want to buy three or more. wh

netflix and snap with clely followed analyst rich greenfield that's next. "squawk box" coming right back >>> welcome back to "squawk box. netflix just reported its worst ever earnings miss investors not fans of the quarterly results. jool ye jewel gentlem julia boorstin is live was it netflixrtainly high and netflix shares, we see them plummeting on the biggest earnings miss since netflix went public. those earnings falling short knelt flicks it's always about that subscriber number it fell short of the company's already lowered expectations the company added 2.2 million subscribers in the quarter and guided the addition of fewer subscribers than anticipated that's not all looking ahead to next year, netflix warns of very tough comparisons. co-ceo reed hastings saying he's not concerned about competition. >> we compete so broadly, we compete for time against, you know, tiktok and youtube as well as hbo as well as fortnite, so really the limit for us is what's the quality of our service? how often -- how many nights -- when you say, oh, my god, i want to go to netflix and watch the next show. >> in contrast to netflix, snap shares soaring beating expectations across the board. snap's revenue growing 52%, more than double the growth rate that analysts projected with a surpri

netflix connected over the top hardware matter or does that matter more for roku because netflix has such deep penetration into over-the-top hardware anyway? >> yeah, roku is doing a terrific job, but there are plenty of other alternatives and we're seeing netflixeleasing a smart tv in this day and age if you didn't have netflix pre-installed it would almost be worthless it's such an important part of the selling process. so certainly roku remains very strong and important in the ecosystem, but netflix is more important. >> simon, you mentioned sports what's amazing to me is that we're a wash in sports all seasons have been commingled, basketball, baseball, hockey, you name it, football, and yet i would imagine your view is that the viewership at netflix has not been affected by what used to be the major draw on all visual media. >> i think if you go and look at each of the individual sporting leagues, you'll see their ratings are down year over year, so there's no doubt that when you don't have the sfpectators n the stands it takes away the event element and takes away a degree of excitement from the live sports and that's, i think, been impacting on the audiences and also you've seen with the nfl, you don't know necessarily if your team is pl

netflix. netflix is gunning direct to consumer movies. that's going to alter behavior the number 5 title on netflix is a movie called outpost, a war movie. there's a lot of movies coming out, just not in theaters. >> we're going to do a rich greenfield sequel, fast and furious two or something because we're out of time. i nominate you for a nobel for media coverage we got to go thank you, and do a sequel for us soon. i don't know if you want to release it incomparable design makes it beautiful. state of the art technology makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $359 a month for 36 months. experience amazing. at your lexus dealer. pandemic we'll see yousoon. >> thanks, joe h don't want toy pr we have a interview, and layoffs. "squawk box" will be right backy >>> stocks coming off a big monday to start the week the possibility of a stimulus deal fueling yesterday's gains what you need to watch in today's trading session is straight ahead. >>> president trump is back at the white house where he will continue to be treated for coronavirus. the latest on his health and his message to america is coming up. >>> an

netflix is saying they couldn't keep up the kind of momentum they saw in the banner first half do you think the competition is going to weigh on netflix, with disney plus and peacock entering the market. >> netflixirst mover into this space and created an unbelievable platform and obviously outinvested in the direct to consumer streaming market everyone they dealt with and competed with. obviously the arrival of disney and others is real, and serious. it feels to me netflix is almost computing more with youtube on a certain level in that we are super premium content but they want to be content for everyone around the world like youtube is whereas disney still feels very branded, and i think within its brand. but obviously, the most powerful brand in the history of content, potentially, is disney so that's very real for them on a competition level. i still look at, even with the renewed competition, the headstart netflix has not only in the united states but around the world. it's pretty impressive and extraordinary. and so i think obviously competition is arriving but the fact they already have 195 million people or whatever the exact number is subscribing is a giant number. >> interesting you c

netflix will have to do. to actually. because. internet service. is huge. content from netflix. has to be done in terms of course of. your. choice and i. really. did mention some of the challenges there what do you think a service like netflix has to do to attract more african viewers. one is that. a lot of people really have interest in watching that. platform because they're beginning to see. one of them are going to really increase. i don't know what it can really hope. something about. even if. people. like let's say thank you so much. to some of the other global business stories making news. britain's borrowing has its highest ever level as authorities spend billions of pounds to prop up the economy growth in the spring stold off their businesses closed and tax revenue dried up because of the pandemic public sector net debt is now over $100.00 under 3 percent of the new will economic books. hong kong airlines have a pacific is to slash a quarter of its workforce $8500.00 jobs are to go the bulk of them at the airlines hong kong based the company will also shocked and regional airline cathay dragon the aviation industry has suffered major losses because of the pandemic. e.u. countries have reached an agreement on agricu

netflix here >> i love netflix because of the potential. a lot of people talk about what's happening now this is a technology monster in the room artificial intelligence is going to eventually introduce in-content advertising and netflixry of that i will see triple digit growth for companies like netflix that have the distribution and brand loyalty. for that reason i got to own it. >> hey, mel. >> hey, guy. >> last night i had the remote control and apparently there's a microphone button that you push it down and tell the remote control what you want and so i pushed the button and said netflix and then i said, the crown. and it actually worked we watched this crown thing which i found be extraordinarily boring. >> i love "the crown". >> of course you do, of course you do it's a wonderful show. i learned a lot actually it's fascinating what went on, a lot of intrigue in early 50's. i don't think winston churchill is as nice a guy as history portrays him but i completely digre digress, you look at what netflix has done, over lay amazon and they're in union. i'm with cocoa be wear. >> you know the crown is fictional not a documentary in anyway in terms of what happened back then. dan, what's your take on netflix maybe ev

netflix for ua by at 491 per share? >> no, it doesn't make it a buy for me because i think there are better streaming stocks to buy. netflix is a great company, but i think disney for example streaming is under price compared to the rest of the company as compared to netflix are having a tremendous year with about 30 million subscribers added, most was frontloaded due to the pandemics that you had a small about this past quarter, 2.2 million or price increase mainly affects your upper tier, so you get hd to stream you need to pay $14 and four stream $14. they left the bottom base of loan at about $9. this is a good way for them to raise revenue they have raise revenue about five times since 2014. they do it about every 18 months and it will increase about 500 million to about a billion dollars of the bottom line. stuart: and you are still not buying it? >> i love netflix and i think it's a great company. their predictive software is what's so great. when you watch a movie or another movie then they give you suggestions to get you hooked. the software is the best. i just think there are better buys in the streaming market. stuart: you think disney is a better buying the streaming market? >> yes, absolutely. disney is about $220 million, same as netflix and

netflix saw as people were stuck at home in lockdown, has slowed. the streaming company says it added 2.2 million new paid subscribers globally in the quarter ending september, that was far below estimates and netflix shares were punished in after hours trade on wall street — down by some 6%. so where is the future growth for netflix netflix is seeing nabisco up that netflix is seeing nabisco up and up in the current times we are in but not so. yeah, and it is not wholly surprising that we are starting to see subscribers did not hit the expectations because they are facing a few things right now which we saw things open up. everybody is not a watching effo rts everybody is not a watching efforts and we saw things like live sports going back and those of some of netflix's actual big competitors and they need to see how that goes there going forward here. they think one interesting thing where you ask where is the future growth for netflix? i think the future growth is really going to be a globalfor growth is really going to be a global for them. growth is really going to be a globalfor them. you look at the numbers that came out, it is pretty fascinating that they had much stronger gains in overseas markets than in the us. for example there was about 180,000 additional us subscribers but that was far surpassed by t

netflix and disney. you see netflix still down after their disappointing quarter. , theiris riding high competition having a little bit of a tough time. so at&t having a very good day on a very strong quarter. down: netflix share still slightly after their earnings report. tesla shares up but not as high a some thought that would be after the blowout quarter they reported yesterday. what did you see their? abigail: it's interesting, tesla throng but not a huge move. letter at a couple of other newer tech stocks, snowflake really surging, there's a lot of bullish quantifying -- qualifying there. they're going to start tracking u.s. virus cases and investors like that. as for tesla, overshadowed by the stock we talked about yesterday. the invisible line maker, and you will love this, the stock itself up about 35%. zoom talking about -- the effect, people are seeing their teeth on their zoom calls and they want better teeth. tesla at the end of the day up upt .75%, at one point today 1%. but the stock up more than 400% on the year. not being punished because they did deliver some degree of perfection. speaking of perfection or some shade of it, let's take a look at alphabet. we been talking about the u.s. a

netflix's stock and i think that's about 20% upside. it's up 65% this year. so the word visor fate as the movie theaters don't open. it's good news for netflix good news for netflix okay, good enough. >>and let's talk about mcdonald's to because i same store sales. are up thanks to travis scott tell me about this. >>2 years gano travis scott was purple and quickly learned he was dating the kardashian and it's all about instagram he's got millions of them. so his favorite meal is some sort of big mac double cheese 04:00pm fries and sprite mcdonald's highlighted that for a whole month and actually had hamburger shortages. cows in america we're getting slaughtered because people wanted to have the travis scott meal mcdonald's. which is kind of they had a good quarter they had a better quarter this quarter than they did this time last year. so they've come out of covid they've got drive-thrus nursing sales increased amount of you can't yeah but in the united states didn't quite well the drivers of the secret sauce speak wondering, and now this month highlight in a meal from chain lavin or believe in who of raking i'm not sure to reggaeton is i hope he sings race, i w

but everything we've seen is that netflix is a leader in low churn, but netflix is already at 60 million subscribers in the u.s. we're wondering if you don't have netflixwhen are you going to get it? and reed hastings outlined a decade ago getting to 60 to 90 million subscribers in the u.s why that's significant is if we end up at the 60 million mark versus the 90, it has significant implications as to what your churn will reach in other regions. >> sure. it's fascinating i want to make sure that your preference in streaming, in general, is peloton. it's not mentioned as a streaming player but obviously these workout videos are a big part of its success and appeal let's go back to netflix and why that doesn't rank higher for you. is it because of penetration is it because of growth stalling out? do you see a landscape where people sign up for other content offerings now that they're prolivpr prolichlt ferating >> yes i look at a stock that's trading at a five-year high and look at a next 12-month growth outlook of mid to high teens, the lowest i've been in quite some time i think the market is already pricing in a large successful price increase, which

netflix is about $13. so you are getting twice the content for pretty much the same pricing. netflixf pricing power going down the line depthe of the breadth and of their content library. amanda: thank you for being with us, and that grass. still ahead, the future of work. salesforce has a new survey that gives a frontline view of where we may all be headed. withll talk about that tiffani bova of salesforce. this is bloomberg. ♪ omberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn in new york. alongside amanda lang in toronto. joseph stiglitz wants to rewrite the rules of the market economy. he joined bloomberg tv earlier today calling for more fiscal stimulus to keep u.s. businesses afloat and to prevent further wage inequality. >> there are certain sectors of the economy that are badly afflicted. they need assistance. for instance, i am and one of those committee education sent there -- sector, research sector. they will be vital to the country's future. we areet those weaken, going to have a weak economy now, but an even weaker economy in the future. >> one thing we've be

netflix down in the premarket by a little more than 5%. bazinet joins us now with citigroup. we will get to all of that any a moment. does netflix finally have competition in the streaming wars? are they finally not the only streamer on the block? jason: that is 100% true. the market is definitely heating up. we've got tubi and pluto and peacock and hbo max, so the market is definitely getting more crowded. i think you traditional media companies have woken up. jonathan: and some of those companies have reclaimed the content has well. we have seen this play out over a number of years. what is that look like at netflixment. jason: what does it look like in terms of content? jonathan: how they replace it, but it means for the amount of subs they might be losing. jason: netflix has sort of trained the market to react to better subscriber numbers, and those always require more and more spending. covid is itd during was sort of this jolt to the market because suddenly you are getting a lot of net adds without a lot of incremental content spending because production was shut down. almost as manyd subs in the -- subs as they had in 2019. into the company's credit, they told everyone we just pulled a bunch of demand forward, so it is going to be pretty soft. but that is actually what happened. the trick for netflix going forward from my perspective is the strategic question for the ceo on the board, how do we move from a model where we spend a bunch of money on content and get subs, but burn cash, to actually demonstrating that this is a good business? lisa: i think netflix has its next hit on hand with tr

netflix are falling today. the streaming service missed wall street estimates for subscribers. that renewed doubt about its ability to maintain growth. netflix had warned that the pandemic-driven subscriber boom

netflix will be derailed just because of this. >> yeah, an deirdre, we were talk about this the other day. they had monster growth in asia-pacific and there's -- no one expects netflix to keep up with the kind of bulge that it pulled forward during the pandemic it's just a question of how big the hangover is going to be. >> yeah. that's why i think perhaps there's too much focus on the subscriber numbers got to look at the long-term growth puck tour for netflixwhat i found most interesting about the results is that the cash burn is being stemmed. netflix is getting closer to profitability. hats some $8.4 billion in cash on its balance sheet at the end of the quarter and i have covered a lot and still do cover a lot of unprofitable companies so this is something i look for. i think that this leaves netflix's long-term trajectory or, you know, thesis in place. the fact that it's going to get there and that it will be able to produce content again yes, there are some, you know, pretty big competitors on the landscape. we talked about this last time, kelly, disney plus in particular which i think has, you know, longer lasting content but that profitability story i think is key here. >> and free cash flow that they are trying to be positive. quick last word on this, julia you were focused on the offerings. the company was quick to say we still have a full slate. >> yeah, absolutely. netflix has said that they were not only among very first to kee

netflix reported slow subscription growth in the third quarter. and earlier this moshgs netflix ended the free 30-day trial offer in the u.s. at the time, a rep said netflixt other marketing promotions. >>> mgm resorts is bringing back top entertainment acts to the strip. david copperfield, carrot top and the dance crew will be back. the president of mgm resorts says the move will help las vegas which has been hit hard by the pandemic performers and audience members must wear masks and social distancing will also be in place. the shows are set to return next month. tickets are already available on ticket master. ann marie? >> at least something is happening in vegas and we can breathe new life into that old saying. nothing's been happening in vegas. but you know what? as social distancing, wear that mask, and if people maintain those recommendations, vegas will be able to come back to life. >> right. exactly. i agree. >> dianne king-hall in new york, thank you. >>> up next, the newest edition at a boston zoo. an adorable baby gorilla is welcomed into the world. how cute. ♪ here's to the duers. to all the people who realize they can du more with less asthm

netflix. the company stopped offering the deal in the u.s. a spokesperson says netflix is looking at different marketing promotions to attract new customers. in august, the company rolled out the netflix watch free site which offers some top-rated movies and tv shows for free to stream without a membership. >>> on the "cbs money watch," a new timetable for relief, covid talks and another movie theater chain is hitting some hard times. naomi ruchim is in new york with those stories and more. naomi, good morning. >> anne-marie, good morning to you. stocks dipped yesterday after word a pair of front-runners developing coronavirus treatments announced their trials were put on pause over safety concerns. the dow dropped 157 points. the nasdaq fell 12 points, and the s&p 500 lost 22 points. lawmakers are slated to vote on a coronavirus relief bill next week. senate majority leader mitch mcconnell set up the date to teak take up the $500 billion economic aid bill. democrats already rejected similar legislation as they hold out for trillions in relief including help for the unemployed. at this point, it's unlikely both sides will reach an agreement before the upcoming election. >>> movie thea

netflix tends to hike two or three years. stuart: maybe because i watch a lot of netflix that it is running away with the streaming wars. stuart.susan: i would not fit necessarily if you look at disney+ signed up 60 million a ten month of operation that's a third of what netflixtflix has been around over a decade in order to get 160 million global subscribers, competition is catching up. stuart: netflix tough is better it's as simple as that. i'll make a judgment, why not. disney has a new cruise ship, and we think we know when it'll make its voyage. lauren: the newest and biggest cruise ship, the wish, and the summer of 2022, i saw the story and i was like when it be summer 2021 but we have to wait an extra year, i cannot believe it, they had a setback at the shipyard in germany, we don't know what the itinerary is yet but we know cruise ships, the very popular inexpensive and for the rest of the ships, they will not sail until at least decembet for the cdc, will they lift the no sale order which is a set to expire in halloween. stuart: only time will tell as they say. lauren: summer 2022. stuart: that is out there. lauren: so far away. stuart: critics are calling out savannah guthrie for debating the president last night instead of moderating the town hall,

netflix. what are you watching on netflix at the moment? -- we don'tbout have to publicly disclosed that.lk about ubs because had the results of the third quarter and it marks the start of a host of european banking majors coming to pass. we will hear from the ceo sergio ermotti. matt miller in berlin tracking the german side of the story. i'm tracking this with side -- the swiss side. in a momentnterview but the bottom line is he left something in the till for ralph hamers. a provision on dividend. good morning. matt: and he left a lawsuit for ralph hamers to deal with, 5 billion in fines. there's a lot there for hamers to do. i think what investors will be most concerned about and you were as well was the payout, manus. the second trench of the 2019 dividend is coming, they've got $1 billion toward its suspected 2021 dividend and they will pay out 1.5 billion for vivax next year.- buybacks next they are the first and you will probably see other banks follow. the other big story is the possibility of consolidation. el weber came out and said we are too busy to think about that right now.

netflix, these are our stars, netflix has taken the biggest hit about 4% to the downside but the sector has been hot in the whole economy and focus let's bring in alion economic advisor mohammed, i want to start with the president positive tested the effect on the market, there seems to be concern about his condition and the stimulus talks in washington and a lot of things to worry about, what do you think about. >> take you for having me, second everybody wishes the president and the first lady a quick recovery in terms of what it does, is simply increases uncertainty, it increases uncertainty with respect to the election, it increases -- >> i think he muted himself, if you can hear me i think you might muted yourself, we can put the tech sector and pull up the market, we are well off of session lows, the dow is down only 33, this is one of the days where the market could close in positive territory, i'm not sure about the nasdaq but we had the dow down in session lows, 433 points, this is pretty incredible, young this bounce back, i always say this even though i do the mornings, somehow we open a tally close and this is something i wanted to talk with him about, the fact that you have the hot stocks like netflix, apple, amazon and when investors get nervous and we start to worry about what the future holds in all of the news and i'll go through all the things that we are worried abo about, that will affect the market, mohammed i know you are back and thank you for staying with me, let's move on from the sector, finish your thought and i want to ask you about the jobs report. >> i apologize, let me say it's remarkable that the market is doing relatively well, the selloff is very contained given what we heard today, first the president trump sad news and we wish him in the first lady well and increases uncertainty in the employment report was disappointing and yet the market has taken a relatively well and i think that shows you the strength of liquidity. >> 7.9% unemployment rate and i know a lot of folks were thinking this morning we are celebrating that but that's pretty much where we were four years ago and were coming up on an election, how crucial is a decided election in your mind. >> le

netflix is getting love on the street for something subscribers hate they are saying that price hikes might be on the way. netflix shares down about 1% they already raised prices in canada and dropped their free trials for new members in october alone, four different firms have raised their price target on the stock. is that how netflixs the next phase an analyst yesterday was more skeptical about netflix. >> at some point down the road they have to exploit pricing power. remember when they tried to get tighter on shared pass words there was the story that they were underpricing the product, being lax about people getting in without paying because they wanted to expand the base. they probably feel they are indispensable to people who stream they are still cash flow negative i think the street would like the fact they test this out and see if they have more pricing power down the road and try to make the numbers work longer term i don't think they are nervous about turn down the road especially with hbo at a higher price point. >> yes, they could raise the prices there is more competition than ever, but it is still cheap. >> but do we think a fast growing high-tech knoll technoly company cares about profits? we talked about disney, how they are releasing more films on disney plus. i think the timing is raising eyebrow

netflix declined today. could it be a precursor of things to come? joe: it is finally happening. october 20, finally the great rotation. who knows? but one thing is clear. netflix had an absolute boom with a huge surge of people that didn't have anything to do, so they got netflix. that is slowing down. the stock is down. romaine: you joke about this being the day. the fact that you said it out loud, maybe it will be the day. but you take a look at this next chart and we have seen a little bit of that value trade catching up with the tech trade, the growth trade. that bottom line there, the vanguard etf. little bit of a catch up here. i guess the question is whether this is going to be a sustained rotation. joe: if today was the turning point, that was a serious comment. if not, it was a joke. in the meantime, want to bring in rob arnott. on do a lot of work different factors and when and why they work. lots of people wondering, when are we going to get a sustained turn? the category that we call value is historically the catalyst for rotation that lasts? the catalyst is always something that takes the vast majority of investors by surprise. otherwise it wouldn't be a catalyst. it is something of a parlor game to try to guess catalysts. we can do that. but it i

netflix and, you know, worth noting that streamers introduced in 2007 so it is 13 years. and netflix, obviously, innovated to deliver what you want to watch, when you want to watch it, where you want to watch it and continues to advance the offerings, making the product better, making the content better and leading the industry. >> jay, you know, netflixadvance and is clearly the leader in the streaming space. netflix shares up 1.5% today so not negatively impacted by disney's news. um wonderi i'm wondering if you think there could be impact on netflix if they put much more of the content that went on tv and theaters on to disney plus and invest further in espn plus and hulu >> as you might imagine, i've had the pleasure of working for him for 25 years including before netflix and i strongly agree with pretty much everything he said and in particular on this point i know the press likes to focus a lot on streaming wars and so if disney is offering better, does that negatively impact netflix or others? my view supportive is it's all about giving the consumer great value, greatselection, and what -- and there isment of things a consume kerr do in terms of alternative use of the time, screen time. they can play video games, develop tiktok videos, watch netflix and watch disney, perhaps cut the cord on their cable. and that's what it's al

netflix are falling today. the streaming service missed wall street estimates for subscribers. that renewed doubts about its . . ability to maintain growth netflix warned. -- about its ability to maintain growth. netflixarned that the subscriber boom from the pandemic would not last. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ is bloomberg. ♪ >> we need to focus on the role of market power in our economy. the low wages, the fact that at the bottom, low wages are the same as they were 65 years ago, adjusted for inflation. and most importantly, we need the aggregate demand going up so that the economy, so that the jobs are there for all americans, and that won't happen if we don't have that fiscal stimulus that janet was talking about yesterday. jonathan: what a tremendous line above guests over the last couple of days. joseph stiglitz, following on from former fed chair janet yellen. from london and new york this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. a quick snapshot of the price action for you. things have settled down at

that does include sports and news, but it is bigger than netflix's spend and it gives netflix the market its money right now. liz: baby yoda. i want to see more of baby yoda. lauren, thank you very much. >>> closing bell ringing in 28 minutes. look at the dow. now we are down just 85 points. nasdaq holding on to the green, up 43 points. >>> trouble at electric vehicle maker nikola, looking to flatten its recent losses following allegations of fraud and the resignation of the founder trevor milton. shares are up about 18% so far this month. but up next, we talk to the ceo of an electric vehicle battery startup that's reportedly going to supply the core battery tech for both prototypes of nikola's trucks. we will get you the ceo of romeo power when we come back. metastatic breast cancer is relentless, but i'm relentless too. because every day matters. and having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopausal status. and it's the only one of its kind you can take every day. v

netflix. everyone will be at home it will be colder. screens will be more prevalent than they are now. i see head room in terms of netflix growing their subscriber base many analysts think that maybe netflixas being conservative with regard to their projections for subscriber growth and a lot of the analysts are increasing estimates for new subscribers. i think personally i'll be watching a lot of netflix for a lot of my favorite shows and that will translate over to other consumers as well. >> certainly many of us. there's a "journal" piece talking about how tech accounts for 40% of the s&p, and that's actually a greater proportion than what we saw during the dotcom bubble peak i wonder if this concerns you particularly because your top pick s are in tech are stocks too dependent on the sector what happens if we see a pullback >> i think without question as marc andreessen said, software is eating the world. we're seeing the incorporation of technology not only in more of our consumer lives but in more of our business lives as well i think obviously the unfortunate side of the pandemic with regard to human life, a positive has been that it has accelerated a lot of the tailwinds that were

netflix, they go up or down, 4, 5, 6, maybe 7%. certainly numbers we'll see volatility in netflix. david: indeed. but they continue to drop like a stone in water down about 7% right now. ashley: they do. david: ashley, thank you very much. here is adam lashinsky, business insider columnist, gary kaltbaum, kaltbaum capital management. both fox news contributors. good to see you both. adam, why do you think they came up so short in subscribers? >> i think ashley put his finger on it. there are two reasons. they had an incredible pandemic so far. people sitting at home, binging on a lot of netflix shows. secondly, they do have a lot of competition. we're finally seeing everybody who netflix humiliated over the last few years getting their act together, anywhere from disney plus, the only thing truly shining at that company to hbo max is not doing freight but it is doing something. that takes away from netflix. david: i have hbo max, i have they have a great set of movies but i'm not sure what disney plus has. they have extra. gary, throw it out, they had this movie on netflix called, "cuties." a lot of people referred to it as child pornography. i haven't seen it, i can't attest to it pro or negative, do you think that cut into some of the subscribers? >> i read a few articles that some people were canceling but i don't think there was a ton just because of that. there is easily a combination of two things. adam and ashley nailed it. there is just so many different avenues now to get your fix of sitting on a couch on your you know what watching stuff. there is tremendous compet

netflix, they have to pivot their business faster. they are doing it incremental rather than going all in and taking the opportunity and seizing it >> should it want to be netflix? why? doesn't it need all of its elements to its portfolio that makes its contents attractive to subscribers who probably have a subscription to netflixoked at disney's studio revenues you could add disney studio and warner brother studio and netflix is generating more revenue and on its way to generating more profit than those two. so when you look at subscription on demand, when you look at the scale and economics that brings you, there is a far greater pot of gold on the other side moving to screaming than first we put it out in theaters, and then dvd and it ends up on hbo, screaming, whatever the window the reason i have my background today. i have simpsons, mickey mouse and moana behind me. these are the trending titles. there is no content on disney plus those three shows have been number one for almost the entire year for disney plus i think getting rid of windows and getting more movies, like "black widow," but they could also expand on the tv side as well >> what is the number? you quantified it at 3 billion what does disney need to spend to compete with netflix? what would get you excited in 2020 >> first of all, you have to

netflix? we'll explore and snaps, coattails, netflix wants 48 hours more, and disney battles california beforen markets this hour dom chu joins us

netflix. julia boorstin has the details >> netflix shares are up about 3% after a report that u.s. subscribers will no longer have the option to test the service for free netflixment saying we are looking at different marketing promotions in the united states to attract new members and give them a great netflix experience it is a sign of confidence for them feeling that they don't have to give the service away even for a month. >> netflix and disney helping the communication services sector jump to the top of the market. >>> back and forth from law makers in washington surrounding stimulus talks ylan moi has what we know this hour. >> the first order of business when the senate returns to washington this week will now be to vote on a targeted covid relief package mitch mcconnell said the price tag will be $500 billion, and include an extension the payroll protection program, more money for schools, enhanced unemployment benefits. the senate will vote on this legislation before then turning to the nomination of amy coney barrett. shortly after mcconnell laid out this new skinny bill president trump called for exactly the opposite tweeting out stimulus g big or

netflix is currently trading on an uptick with covid numbers running up and restrictions being put back in place do you think netflix can make a push to all time highs again? >> mike? what do you tell matt. >> i don't know if it will result in new subs for netflixame volatility data, but yet there is no catalyst that's very odd. you would have to go out to february to buy your call options because that captures the next earnings. and then sell some november calls against it and keep doing it that's the way to do it. that's how to play netflix on bullish options. >> subscriber growth has slowed down if you saw the earnings announcement international subscribers down quite a bit. if you are looking for a longer term grind, mike's calendar makes a lot of sense >> i am no chartist, but that chart doesn't look that great. >> it is churning. high volatility, but range bound, and the risk here is that it breaks the downside from the range which it has been in >> not bad for first time out. >>> up next, the final call. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your inves

netflix, raising by a dollar on standard plan, two bucks on the premium plan. netflix spends billions of dollars on content. subscriber growth will likely slow in the future. netflixbump of users in the first half of the year but growth has slowed in the third quarter. >>> finally, on this friday, actress scarlett johansson and colin jost have tied the knot. word of their wedding came from an unexpected place, meals on wheels. the nonprofit group shared the news in an instagram post saying the couple's wedding wish is to help make a difference during this pandemic. they say people can celebrate the happy couple by donating to meals on wheels america. congratulations to them. >> yeah, and what a nice gesture to celebrate their wedding by helping other people. >>> don't forget to set your clocks back an hour saturday night. have a great weekend. thanks for joining us. i'm christine romans. >> and i'm laura jarrett. we'll see you at 4:00 a.m. on monday. "new day" is next. - i'm norm. - i'm szasz. [norm] and we live in columbia, missouri. we do consulting, but we also write. [szasz] we take care of ourselves constantly; it's important. we walk three to five times a we

netflix, which they reiterate buy, you bought the calls in netflix, pete what do you make of that >> there's really some aggressive buying going on in there, as a matter of fact, scott. just to the immediate term that you just pointed out, october 9th expishing. we see all kinds of buying to the upside we see it going up to the 550s i think it speaks for itself this is a global company we all know that and are they really -- everybody wants to always compare them to disney plus, right but the reality is, disney plus, when you look at the demographic, is quite a bit different than netflix i want people to understand, there are streaming and different areas of streaming as well and i think netflix, much more in the adult category of streaming. it's something that, obviously, their growth internationally is still something i always look to and i think that continues to be something that could be huge for them in the future while they probably get a little more stale here in the united states. >> good stuff. pete, thanks for that. speaking of, pete, he has unusual activity trades straight ahead. as we go to break, check out the s&p sector heat map. materials, discretionary, industrials leading the way where the s&p is up 43.3 ♪ ♪ ♪ "a good education takes you many different horizons" and that sticked to my mind. so, when $1 a day came out, i said, "why not"? why not just utilize that resource. and walmart made that path open for me. without the $1 a day program, i definitely don't think i'd be in school right now. each week for me in school is just an accomplishment. i fe

netflix. given the company reported some disappointing results last week. the stock plunged 525. stocks note that netflix has a strong support of 457 and it is down 4%. this is a weak chart throw in the fact that netflixs a thesis stock. it is the kind of thing people want to buy when they want to make it in the company let's take a look at microsoft it gave you an amazing quarter today. that makes me feel bullish as you see from the 50-day held the support. put it all together when covid cases spiked, you have to buy the faang names plus m they all found ways to benefit from the pandemic. we needed a gut check here the chart that's interpreted by katy stockton suggested that facebook, amazon, and apple and netflix and google and microsoft reported great numbers tonight are higher than yesterday's beat down reported average. so you have my blessing to buy a little bit before their report on thursday night. my travel trust owns them all. i am betting they'll be safe to buy and to even more weakness. think about how great that was to buy don't give up on these stocks. don't let people scare you out of them. stick with cramer. some things are good to know. like where to find the cheapest gas in town and

. >>> today netflix announced -- let me start over. today netflixnnounced the official debut date for their new series about a haw no music legend selena perez. the roll of selena will be played by walking dead star christian ceratos. the series is described as a coming of age story as the singer's life unfolds up to her tragic murder in 1995. the first part features six hour-long episodes. >>> sad news in the music world tonight. legendary guitarist eddie van halen has died. ♪ go ahead and jump ♪ >> van halen died at a hospital with his wife, son, and brother by his side. he had been battling throat cancer for quite some time. eddie van halen started van halen with his brother back in 1972. his son, wolfgang, shared a message on instagram, writing he was the best father i could ever ask for. eddie van halen was 65 years old. >>> coming up here, four-time champion is crowned in the wnba. and mark has a's, astros playoff baseball. it's all coming up next. ♪ ♪ i got it all from you ♪ i'm always pushing through ♪ i know we'll make it to the finish line