there's over 80,000 items listed on amazon now between nike and converse, none of which nike sold tomazon i think amazon has to agree to get rid of unauthorized third party selling in order to allow nike to take control of the brand. if they don't, i think this test will be -- i don't think nike will be willing to go forward with it because a lot of the cool factor of what is exclusive to nike is because you can only buy a jordan shoe waiting in line or specifically i see this as a more moderate play to cover people who just -- that's where they shop i do not see the premium product going there at all i think it's potentially very, very good. but again, amazon rarely helps people build brands. they like to sell a lot of stuff. nike has to balance what they're doing carefully. >> sam, the market is showing some relief after the report what is your overall read on the quarter and guidance was the street bracing for something worse or was there something encouraging in there >> i think if you look at the international business, it was phenomenal domestic dizziness, it showed the futures

so they gain some at expense of nike for sure. but specifically in performance they have been doing a very good job. >> do you think that the investor fears of companies being amazons, foot locker is the biggest llagger for the swier quarter. >> that's a fair question. i think overall there's not a lot of great ideas in consumer right now as we know nike as a dominant brand in foot ware i think the risk of beating amazon is negligible there so we're less concerned on that front. overall with the valuation, nike is trading at low 20s multiple which is at a premium to the space but that's a discount to their historic averages so even though estimates are coming town you're seeing some multiple expansion. >> underarmour is near the top of the s&p does that make sense to you or was there anything that underarmour should be scared of in that report last night from nike >> there's some things we will be concerned on on underarmour specifically nike talked about being back in basketball that's as much as 40 to 50% of under armour's footw

nike surprises investors with better than expected results. as demands rose in key markets around the world. began and it changed pretty much everything about how we live our lives. those stories and more tonight on nig"nightly business report"r thursday, june 29th. >>> tech stocks take a tumble. the sector that has soared past all others this year came under renewed megacaps. weakness in technology butt a dumper on the rally if financial shares which were hire following the results of the stress test we told you about last night. today, the dow jones indus average fell 167 points to 21,287. it had been down more than 250 points midday. nasdaq drod dropped 90 and s&p 500 was off 21. although the pullback may look concerning, it may want be as bad as it appears. bob pisani explains. >> it was anything but a breezy summer day for the stock market. the dow plumets as much as 257 points before ending down 167 points. largely weighed down by apple. but for the moment, this sunt look so much like the start of a broad eer sell off as a healthy rotati

people reaching for nike, or no? >> yesterday they were aggressively selling puts in nike i went on with kelly on "closing bell" and we talked about that they were selling 14,000 of the 52 puts with the stock at 53 that is a big bet that the stock trades higher rather than going lower. >> what price did they get -- >> they sold those for 80 cents yesterday. >> not bad >> in essence, they would be buying at $51.20 if, indeed, the stock went down, which it didn't, so those vaporized i was short puts, long stock, short calls at the 55 strike, so i had to cover that today, mel, but i'm out of the stock for now. short-term, anyway and i do like jim, i would get back in if we see -- >> so now you're saving your best material for kelly evans. that's what's -- >> it was late in the day. the final half hour of trading, but when somebody makes a bet that specific, josh, as you know, they think they know something. >> you think scott's not watching will >> scott's on the beach somewhere. >> back to you, mel. >> thank you, josh

what a shame if nike would have turned tail for him now.: there have been combacks, ryan lochte, michael phelps, michael vick, i didn't think he'd ever come back from the thing with the dogs. and there are precedents for this. >> yes, it's good for nike to stick with him and they started with him and benefitted from the relationship. other sponsors want to stay on the sidelines and drop him, fine, nike with them gives tiger woods if he can come back the ability to come back. >> with tiger, he's been here before. >> nike would be within its rights to back away from tiger woods. if you live by celebrity, you die it. and it could mean no longer valuable. david: sabrina did i see you nodding on that. >> and nike is about living a healthy life style, and having drug and addiction a part of that, on the flip side, i actually think they made the right decision. when you're an athlete doesn't mean you don't trip and fall and their model is just do it. so hopefully he'll get back up again and that's a good image for the brand. david: we're a nation

nike is the one.re in the sporting, the department stores, they're everywhere >> appreciate the time you guys own this name >> nobody's happy. >> if it sneaks below, i could stom it. this is a long-term play you know over the long-term like he admitted, nike's going to come over it it's just a matter of the time >> is there a case to be made for selling the stock today? >> i don't think so. if you're selling it, i don't think this goes below 48 >> just put the money somewhere else >> if you're a trader, definitely >> now, it's below 51. it's just a killer buy i don't think it stops on a dime earnings are coming up i think it's next week i don't feel like being a hero and guessing whether those earnings are going to be good or bad. it's the 29. >> i actually wholly disagree with the premise that it's more important to be concerned with the distribution of the products versus the demand. demand for the products is incredible that's not changed and you know, in a lot of way -- >> sales growth is slowing

suppose i told you you could 3.56r built nike or run a mile? phil: i will take nike. david: ok.hil: but i did pause. [laughter] in threeu letter years, and after which you went into the army, after year and the army, you served in the reserves for a number of years. you went to stanford. how did you pick stanford for a business goal? phil: it was and is a good school. i got admitted. david: there was a class on entrepreneurship? phil: the professor was a dynamic professor and inspirational professor, and he had me write a term paper and you were supposed to attach yourself to a small business in the bay area or make up a small business, and he said, make sure you write about something you know, so most of my classmates wrote about some electronics project, which was beyond me, but i remember my old track coach and i was one of the guinea pigs, so i was aware of the process, and it did not make sense to me at the time that running shoes should be made in germany to which were dominating world markets, so i said they should be made in japan and japan can do to german shoes with th

i'm a seller. >>> nike, call spread seller in earnings. >>> yes. up side calls make sense >>> looks like our time has expired. i'm melissa lee. thanks for watching. for more, check out "options action"s.cnbc.com. we'll see you monday >> announcer: the following is a paid presentation from worx. [ dramatic music plays ] nothing offends these members of the mount parnassus garden club like a neglected lawn. and they're here to do something about it. [ clicks ] their weapon of choice -- the all-new worx gt 2.0... the next-generation lithium-battery-powered two-in-one trimmer and edger that means business.

there's one dow stock that's setting up for the perfect catch up trade wooechl give you the name plus, nike's set to report earnings do you know which way the stock is going to go there are some interesting options trades that might shed some light break it town. and talk about hot in the last two week, carter predicteded the surgeat oracle and amgen and now, he's got an even bolder call to make the action begins right now. >> everything that is old suddenly new again two of the four horse men of the '90s are surging this year oracle and microsoft up double digit. it's well below its tech bubble levels nearly 10% lower meantime, intel is down on the year, but could any of these names actually play catch up to the rest let's get in the money right now. >> microsoft and oracle really outperforming. it's up this year. last week on that one, it got to new all time highs, but it's up 33% on the year. a name i want to talk a look at is cisco they're going to have an analyst meeting next week. that could be a catalyst followed by their q4 earnings that are going the fall on august 16th. cisco had a

if you're worried nike could run into hurdles, don't.e has a way to play the stock. >> we'll look at selling and call spread. you're going to get some sense of the sentiment i have on this, you sell call spreads generally speaking when you're neutral to bearish. one nice thing about calling call spread like options in general, you're raidsing the probability of profit of your trade. unlike selling calls naked which is something we don't necessarily advocate for people, when you sell a call spread you can do this whether or not you happen to own the stock. so, specifically the trade i'm looking at is i'm looking out to july, i wanted to basically target this level where it had fallen out of bed basically. you can sell the 53.5, 54.5 put spread and collect 35 cents for that we want to look what carter has to say about it technically but you're basically collecting 35% of the total maximum value dom just said the options market is implying a larger than average move but lately hasn't been moving that much and that's one of the reasons a sho

find out how did when "fast money" returns >>> more from nike's earnings. sessions >> we just got guidance for the full year 2018 from nike pretty much in line with estimates, so on the call, they are guiding for revenue growth in the mid to high single digit range. did talk b about gross margins and a possible modest contraction by as much as 50 basis points in the first half of the fiscal year, but they say that owes to fx head winds and didn't forsee that to take place for the entire 12 months for the fiscal year. back to you. >> thank you very much david. >> better than i thought 56, 57 take profits here. not going to go much hire. 56, 375-57 is really the thing that stalls out. >> i don't think you need to chase this, but it's a stock i'm very encouraged to hear their business is being managed through a process of secular change meanwhile, well run, innovation, it's all there >>> blue apron make iing a rathr bland debut on wall street today. the stock starting the day off sharply higher, but closing exactly add its ipo price of $10 a share. guy. >> lov

coming up, nike searching. we will discuss how the athletic wear company is stepping up its failed game, next. this is bloomberg. ♪ >> the securities and exchange commission is scrutinizing how hedge funds and other managers handle quote, ipo shares. regulators are concerned that a select few are getting access to highly profitable trades. data shows that newly enlisted shares gain an average of 15% on the first day of trading. gm, ford, and fear chrysler are shortening summer breaks, or scrapping them altogether at plants as demands for suv's continues to soar. several car manufacturers are bracing for cuts in summertime shifts and outputs as manufacturers try to align supply with slumping demand for sedans and coups. those models lost 4 points and u.s. market share. is beenle of omaha proven right again, warren buffett's that on bank of america could pay off to that unit of $12 billion. buffett plans to execute --and ,uring the housing meltdown where berkshire hathaway invested in exchange for bank of america

i think nike -- i think nike has to bei think nike has quick or and fresher, but i don't think they necessarilyuldl believe that kanye not have gone to do this unless nike said, "go ahead." nike looks carefully of what is right for their brand. i think that as i said, i think they did not take quite a seriously some of the lifestyle stuff that was going on in a adidas. i think a lot of the concerns about nike are very backwards looking. i wish i had, 18 months ago, said this looks like trouble. but i think nike is so competitive, that such a good innovation pipeline as i said. i think a lot of this stock reaction at the moment is , six months ago, rather than six month from now. david: we have talked a lot about the changes. focusing on 12 largest cities around the world, saying a diverse and of their business is going to come from these cities. what does that say? they want to be an urban brand particularly? >> they're saying 80% of their growth is going to come from those cities, not 80% of their business. 80% of their growth is going to come from those major markets. no, and if you think abo

the announcement that i think helped nike a whole lot today. that they are going to be opening a store front on amazon, a digital store front. these are strategic deals. they speak to the challenges in retail and when you look at the store, we know this well that there is just way too many of them. they need to consolidate and close some of the underperforming stores some of the names have a lot of opportunities as it relates to the real estate market there's good real estate to monotize there, so they're cheap. we know the sentiment is really poor and there's probably some stuff to do there, that's why some of the names are bouncing right now. >> quick one on comparing basically boxed retailers to whether you're talk iing about nike or whole foods. it's a difference between brand as e tail versus you know, the other thing is that everybody talks about the fact that they have these great -- buyers market isn't it? so when i think about it, i'm not necessarily sure we had a big bounce in crude that doesn't mean that's over. >> we know when thing

nike fueling today, giving j. perform morgan cha is to a neutral rating >> we're sfwnl forward, this north american marketplace is just really in a consolidation mode and from a brick and mortar standpoint, we think nike may be the one that faces the most disruption the year-to-date we had over 4,000 store close years. everybody talks about who discloses the most from a branded perspective, our map is 8 to 39% of those close years have nike product in it. >> all right do you agree or disagree >> if i owned no nike, i'd probably get started on it it's gotten killed it was flat for the year it hasn't had a disastrous year. but nike has shown again and again they can remake their business and come back as an outstanding team, it's not crazy expensi expensive. >> ethink the earningsened the guidance are as bad as people expect it holds $50, i think the stock will go up i will say something, when you talk about the omni channel, these guy versus done a good job, i get their apps. >> but what i'm saying is it's actually

sara eisen takes a look at nike's plan to be more nimble. >> reporter: nike is cutting jobs, slashing 1400 positions, 2% of its global workforce, all part of a new strategy to focus on selling faster and more to consumers directly. also part of the plan, slimming down the number of product lines by 25%, and zeroing in on 12 key cities where more than 80% of sales growth is set to come from, including new york, london, shanghai, beijing, and l.a. the back story to all of this, nike's growth has slowed down lately. it's also getting crushed by a resurgent adidas, whose retro sneakers and kanye west products have been a big hit in the united states especially. nike is feeling pain from the broader weakness in retail right now. department stores are suffering. and nike feels the impact of heavy promotions and slower traffic. that's why the company's strategy had been and continues to be on selling directly to the consumer instead of foot locker and macy's, focusing on its own website, its digital presence, apps, and its stores. clearly consumers are changing habits, tastes, behavior, and

the nike stock is down about 8%.tors trying to assess the global overhaul, the changing of its business struck -- a structure to determine whether this would be enough to better compete against adidas and under armour. >> a response today. a massacre in the currency market. i like talking about it. i want to put a bit of perspective in it today overall. losing $16 billion in market caps. $100 billion in the week. i just want to give it a bit of perspective. bitcoin in the past five days. for those of you who care about the trade levels, we are here just about to touch the 38 stretch. >> more tech related technical analysis. its what -- forget the tech bubble in 1999. we find this many days, over 130 where the nasdaq was trading above its 50 day moving average with the recent selloff, we're getting close to the white line. it will be extraordinary watching it hang above the level . a sign of its momentum. the white line catches up fast and the actual number is a breakthrough that, i expect a lot of attention on that.

why don't we start with nike i love the company that's nike i shot clock shoe dog, the autobiography of the person who founded nike is unbelievable it's an unbelievable story how a little company from the great state of oregon took on all the big guys and through sheer grit and ingenuity won, it vanquished everyone in its path along the way a new competitor came up to compete on price, a price of endorsements, under armour that seemed to spend like amazon and take a share. somehow adidas came roaring back to life reincarnated with a stan smith shoe most people probably don't know smith was a legendary tennis player and the sneaker business became crowded and cutthroat nike was so well run it didn't matter its expansion in china was so flawless it kept chugging along. you know me i preach buying home work the home work in the last few quarters showed nike lost its edge in the united states. today, nike announced layoffs, something shocking when i saw the news on "squawk on the street" here what's the story the lean and mean nike was now neither? entire possible. the 2% reduction of st

, nike.> a sizable number of people. >> holy cow, nike. that is -- that's very interesting. i have been waiting for nike to take some action i didn't think it would take that action. nike does not like its stock stalled between 50 and 55 forever. mark parker -- he's kind of a belichick figure in the business everyone assumes that kevin plank is the hard charger, but parker is the wolf in sheep's clothing this is a very interesting announcement he won't stand for that stock price being where it is anymore. wow. nike. >> from the release, organizational streamlining will speed up the execution. >> those who remember -- read the best business book, "shoe dog" know that phil knight ran that company with seven misfits. i think parker has taken stock in saying we have too many people and that's -- china sells it very good. they have nike espn -- all the guys spent too much money on sports. >> yeah. >> i don't know about the payoff right now. i do know that i have never made a lot of money betting a

and fitness really began here, particularly in the 1960's and 1970's, and then with the creation of nike here, it became this mecca for people coming to both, and run here at the university, but also to be in this space, this place, and get a sense of why that is so important, what does that mean to be connected to a place that has such importance for fitness and running and health. so bill bowerman one of the most well-known track coaches here at the university of oregon, known here locally, but nationally and internationally, as well as very well known as someone who started people following jogging, running, and often well known as one of the founders of nike. bowerman came to the university of oregon to coach football in 1947, but then in 1949, he began coaching track and field and he got into that based on his previous experience as both a football coach, athletic coach, athletic director at a high school, so he was very much involved with a variety of different sports, but his love was really with track and field, so he began that in 1949 and continued until 1972 as the head of tra

nike is actually winning the game nike has been wing the game a long time.er armour was small, it could still get growth really hard now to achieve that with everybody making the product. i can be champion c-9 at target. acceptable product to work out in it is tough. >> is this a buying opportunity for them >> i am a fan of nike. great brands that own their space are things to own. i like ralph lauren for the same reason, coach for that same reason and i like nike better to find one coming back like coach or ralph, but nike owns that space. i don't think much likelihood somebody takes it away. >> late friday fwot word walmart was not interested in making a bid for whole foods. i wasn't surprised then again, didn't see other deals coming. >> i predicted they would end up with whole foods, not walmart. walmart will still fight the battle every day with amazon across the board, whether it is apparel or grocery walmart is getting better. doing more in fresh and organic, pushing that whole envelope. buy online, pickup, take it home amazon decided to be a real pla

let's look at nike. company has seen its revenue growth take a hit, slowing from the double digits advance we saw in 2015. nike's new strategic plan may not accelerate sales in the short-term. investors and analysts will be watching closely for nike's 2018 fiscal year outlook. nike is facing a resurgent adidas, which gained footing in. the u.s. when comparing the revenue growth of both companies -- which gained footing in the u.s. when comparing the growth of both companies, nike hold interestingly when it comes to margins -- hold an industry lead when it comes to margins. if more production is realized and speed to market is improved, it is not just revenue and margin that investors are concerned about here. nikes worldwide futures will be a key number to watch. those orders fell 1% in the first quarter, the first drop since 2009. 2%.s reducing headcount by the overhaul is an attempt to speed up development and refocus on key markets. this month, bloomberg reported amazon will begin selling nike shoes d

today nike -- or on amazon they were down. >> people get excited just as long as amazon is in it.probably makes sense for nike to do i would think everybody needs to back up and take a deep breath and not expect amazon to absolutely dominate everything every time >> why >> they're really good -- >> why not >> they are really good but not perfect. it's like the iphone people hyper ventilate and then went from it's amazing to not doing anything right. >> the directional trend is why footlocker is down 10% >> remember when amazon killed best buy >> that didn't happen. but can i tell you what, john? consumer staples companies have caught on to this idea and, in fact, this is a very important source of growth in a retail world, which has been lackluster p&g, for instance, saying it's growing the ecommerce business sales 30% this fiscal quarter, in a time where p&g's growth is nonexistent. and the reason why and they always talk about this on the conference calls is they have the tide page on amazon. the first result when you look at detergent is tide >> for every best buy there's a mac

and basically, nike is flat.king for huge outperformance i'm just thinking that they have a good quarter, and then the thing they didn't talk about last time when they talked about digital, they never mentioned amazon, this time i think amazon will be a big part of the call as to whether or not they have their own store on amazon after this >> stacey, it sounds from reports like they're going to be selling direct on amazon within a couple of weeks. what is that going to mean for the company? is that enough to give them another leg higher here? >> you know, nike right now has very small exposure to direct. it's only about 26% of the business so they're very much still beholding to that wholesale channel which we've heard so much about being in the mall the fact that they're going on amazon direct is a positive. they're able to get rid of all the third-party sellers and noise and promotions but while that's a positive here, it's also considered, you know, very mass distribution you have to watch out how the brand i

let's talk nike this morning. according to goldman sachs analyst nike could be close to beginning a direct relationship to sell products on amazon.com. citing channel checks. right now, nike does not sell directly on amazon. it does sell directly on zappo and through third parties, but this is sending down joseph retailers that sell nike shoes like foot locker and dick's sporting goods. section turn of oil prices, just to get perspective. we are seeing a bounce in the days session. 6.5% in the down by last six sessions. crude oil inventory drew down more than estimated. gasoline unexpectedly fell in terms of supply. crude inventories at the lowest level since february. nejra: queen elizabeth ii unveiled theresa may's brexit dominated agenda for the government marking the formal opening of parliament today. government's priority is to secure the best possible deal as the u.k. leaves the european union. nejra: prime minister may is taking questions from mp's right now. anna edwards joins us from westminster. what ar

nike already sells its shoes through department stores but nike has never let amazon sell its productsctly. >>> samsung and major league baseball are teaming up to present virtual video. over 20 v.r. videos are expected to be released this season. they'll include highlights of all-star convenience and division championships. some will include close-ups with players and unrivaled views of ball parke apchat has ball parks. >>> snapchat has released a new map feature. snap map shows where friends' snaps are being composed on a google-like map interface and lets them communication as snaps are being generated. >>> and actor george clooney is selling the tequila brand he helped found for up to $1 billion. they started four years ago. liquor giant diageo will pay $300 million up front and $300 million over the next several years if they reach milestones. he'll still be part of the casamigos brand. >> $1 billion. not too shabby. jill wagner at the new york stock exchange. thanks so much. >>> still ahead, marijuana use takes a u-turn. a new study that shows legalized pot leads to a rise in car

nike, of course, under pressure.did make announcements with regard to strategic positioning and changing the management around. that is not going to help in the short term. >> as we know, they are cutting 2% of the workforce, which is about 1500 employees. they are consolidating their .ivision, going from 6 to 4 all of that is a help to margins, but in the near term, the focus is all on top line. scarlet: nike has also been adidas, which has been doing really well with some of the old school sneakers. how do you see nike responding that -- responding to that? it is reducing some of its inventory as well, isn't it? >> it is. it is cutting back to focus on what works for them. i want to ask about the amazon in fact because we know nike has signed a deal with amazon as well to sell their products online. a really important part of the dry in the business going forward. >> absolutely. that's where people are shopping, on amazon, so nike can get control of its brand on amazon versus having it sold group third party vendor

i think nike must be a good win for them.olesalers take a look at it and maybe go on to the platform. >> when you go on the amazon you say there are a lot of things that nike is not selling. -- other retailers under pressure in the same way we saw the amazon bid for whole foods. i think every time you put in a new player, especially amazon into a market that is arctic see a lote, you will of pressure from the other retailers. i think what nike is good at is protecting the products. locker -- i- the think pressure more than the lower end and lower pricing points. i think they will be ok at least for the next couple of years. >> thank you so much. retailng of amazon, it's expansions does not seem to worry alibaba. to charlie is said rose just last night about whether or not amazon or -- and alibaba are comparable. >> amazon is a fantastic company, but they are e-commerce company. we are not e-commerce company. we help others to become e-commerce. speaking.s jack ma he says we are not trying to be amazon, we are trying to empowe

company. >> how much do you think about nike?are of them, have great respect for what they do. they don't fight fair. >> why don't they? >> big companies do what they do. they have more money. we run a commercial, we have one shot. commercial has to be great, has to hit. >> you have to tell me true or false, in the early days of under armour you used to send the head of nike, phil knight, a christmas card every year and say you will know our name. >> yeah, that's true. the people i was trying to recruit and get to come join the company, you know, i was pitting this as it is us versus them. and everybody else was like are you crazy, you're not on the radar. to me, we were always on the radar, always in the game. here we were always in that fight. >> you guys for the company for better part of a decade were growing rocket ship to the moon, double digit growth every year. then fourth quarter last year hit a little roadblock that scared wall street. what happened there? >> i think we found there's a bit of a shifting market that happ

sfl united airlines, i like it >> nike i'm a seller of the nike pop here i think it's going lower inton. it hurts you know >> talk b about health care, look at what nuance does and you tell me. there's a stock that's about to break out. >> thanks for wahitcng see you at make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica my job is not just to entertain you but to educate you and teach you. so call me at 1-800-743-cnbc or tweet me @jimcramer. we need to talk for a second about permanent warf

rated pg. >>> shares of nike soaring today.xpectations and confirmed that deal we had all been talking about with amazon where they will sell directly. this cited this direct to consumer business on sales growth they will sell a limited assortment of inventory directly on the e-commerce join's website. remember the footwear maker has avoided worksing with the company in the past. but the announcement came with the positive earnings and that's good for a 10% pop for nike stock. >> you know, the journalh a story a couple days ago that was fascinating. it talked about how nike made the decision years ago not to go on amazon. it didn't think it could handle good brands well enough. it tried in 2014 a partnership with the fuel band and it thought the results were unsatisfactory when you searched for it on amazon it showed up with a bunch of monetized fuel band looking things so they partnered with apple and here we are years later. it tells you about amazon and where it has come. >> amazon has now evolved enough nike could open thei

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that is helping nike but hurting some of the other outlet that sell nike product like dick's sportingoot locker. as we talk about the general retail theme all over this, we are thinking that amazon has changed the game when it comes to retail. if you want but those words into a chart that you can see, take a look at the terminal here. this is the five-year look of amazon versus the nightmare --nario that if everything is everything retail going on right now. the u.s., 48 square feet on average per person of retail in 22, and, in the u k, canada is 13. that shows there is a lot of right citing the u.s. the due in the brick-and-mortar things. david: taylor joining us with the market update. and coming up, five months after the inauguration, president trump's net worth has slipped to $2.9 billion. we will tell you why that happened next. this is bloomberg. ♪ ♪ scarlet: -- david: this is bloomberg markets: the trump economy. president trump's net worth has slipped to $2.9 billion according to bloomberg billionaires index. i click on that there, we get the. report. and silence after trump'

nike is getting closer to selling on amazon. another retailer should be worried with foot locker down 5% which one is it? >>> you've heard this story, this is unbelievable george clooney selling his tequila business for $1 billion. jeff cohen sitting here next to me he can't believe this. we have a special report on why tequila sales are so hot right now. >> it's only 700 million up front. >> oh, well, okay. >> the 300 -- that'll come down the road if they sit certain targets. >> this reminds me, griffin was known as a lounge singer, but he created jeopardy and -- >> which reminded when we watch it >> wheel of fortune. and he made -- that's where he made his money george clooney just made his big money in tequila here. >> we begin though with the big corporate shake-up of the day. uber ceo travis, in case you hadn't heard by now, is stepping down that adds to the list of vacant sis at the ride-hailing company. here's how he described his role back about two years ago >> i'll be the first to admit i'm not perfect and neither is t

. >>> on the "cbs moneywatch," amazon makes noise, and a deal with nike.snapchat unveils a new feature to find your friends. jill wagner is at the new york stock exchange with that and more. good morning, jill. >> good morning, meg. the price of oil dropped for a third straight day to its lowest level since last summer. oil prices have fallen more than 20% this year. >>> stocks on wall street finished mix yesterday. the dow fell 57 point, the s&p lost a point, and the nasdaq gained nearly 46 points. >>> nike trading was hire. the move helps nike control knock-offs and gives amazon a new source of revenue in the foot market. they already sell their shoes through department stores but nike has never let amazon sell its products directly. >>> samsung and major league baseball are teaming up to present vir tut video. they'll include highlights of all-star convenience and division championships. some will include close-ups with players and unrivaled views of ball parks. >>> snapchat has released a new map feature. snap map shows where friends' snaps are being c

it's a confirmation growth slowed down, and in slowing at nike, nike is not fast and adept of keeping consumer changes, styles, and habits. certainly, a toughest competitor, adidas, nike is down, but they are up 50% in the same period. >> specific or not the changes how well the likes of adidas - >> we're in america. >> you're a paying company -- >> look, they would never acknowledge that, but nike is fiercely competitive and by all accounts has been licing market share in north america with the biggest market it is still by far the market leader, but an acknowledgement two weeks to the today ahead of earnings, by the way, where some expect a rebound in business that things need to move faster, connect with the consumer more look, you guys talk about the retail pain all the time out there, and in malls, where they have foot lockers and department stores, heavy promotions, traffic declines, and that impacts nike it's been doing this for a while moving more to direct to consumer, but told not to pay attention to the future orders numbers which deteriorate a lot lately, but this is a new

plus, nike's nightmare over? the stock having its best day in almost three years is it too late to buy? and it's fourth of f july weekend and some of the most patriotic stocks are soaring much more after this tr did you know slow internet can actually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's up to 16 times faster than slow internet from the phone company. say hello to faster downloads with internet speeds up to 250 megabits per second. get fast internet and add phone and tv now for only $34.90 more per month. call today. comcast business. built for business. . >>> welcome back tesla fans giddy over a tweet by elon musk today about the highly anticipated model 3. hi, phil >> he certainly knows how to send out the teaser tweet and that's what he did this morning. he had been asked specifically by someone on twitter, hey, give us details about the final unveil of the model 3 and he tweeted out thus on sund

nike a big decliner laying off 2% of their global work force. the nasdaq down.sh -- something to watch. facebook half percent. amazon down 1.4% and snapchat touching literally $17, its exact ipo price snap something to watch. >>> also to watch the oil market closing for today. jackie >> hey brian, we sleighed a bit more today session low was 34.43. this is coming after hitting that seven-month low yesterday could there be more pain from here, yes. all the news of date out of opec, the ooe has been bearish they're saying a dip into the high 30s could be a possibility at this point even going into the summer technically look at 43 1/2 and then 42. the dollar has been a huge part of this trade it's going to be taking into account as factory broan brian. >> thank you jack. >>> policy meetings at the heart land to discuss for its future take it away meg >> mel thank you so much mike thank for being with us >> thanks meg great to be here >> you're meeting with investors here in the audience, what everyone wants to know is how do we continue the growth in boston and wh

earnings per share even beat highest estimates for nike co, so go nike.es ep s6 0 cents versus 50 cents. blowing it out of the water. revenue at 8.7 billion versus 8.63 billion. they did well geographically around the globe. people do want to know future orders for future. what would help is jordan running, jordan brand, one of the favorite parts going through this report, converse, good ol' converse which saw 2 billion in revenue. that was up 6%. there was a lot worries over the last year adidas and stan smith made a comeback, how that grabbed a little bit of market share. couple other quick points, amazon deal there are concerns about counterfeiters there. no word on nike on amazon deal to sell products there. something we're watching very closely is overall how they do going forward. so we'll watch for that as well. david: nicole petallides, thank you very much. melissa. melissa: less than four hours president trump's travel ban is going into effect. who is being prevented from entering the u.s.? walid phares is weighing in on that next. david: 10 year

thank you, meg >> nike is on the move, a new partnership with amazon.ue bbuying nike in the second half, that's next i put everything into my business. and i had all these points from my chase ink card. so i bought ingredients, utensils, even made custom donut cutters. wow! all with points. that's how i created the ripple: the doughnut in a doughnut in a doughnut. suddenly it's everywhere. i mean, it really took off. what will you create with your points? learn more about the ink business preferred card. what will you create with your points? the future isn't silver suits anit's right now.s, think about it. we can push buttons and make cars appear out of thin air. find love anywhere. he's cute. and buy things from, well, everywhere. how? because our phones have evolved. so isn't it time our networks did too? introducing america's largest, most reliable 4g lte combined with the most wifi hotspots. it's a new kind of network. xfinity mobile. >>> nike's soaring they made a deal with amazon to sell directly on the site. >> bob is join us right now from new

nike announced a partnership with instagram allowing consumers to buy nike products seamlessly through app. >>> this book is one-step closer -- facebook has successfully completed a second test of its drone. it flew for one hour and 46 minutes and landed without any trouble with the first drone crashed but this one had significant improvements. facebook plans to use the drone to beam internet signals to areas of the world not connected to the internet. >>> alejo is number one on the hottest towns and markets. dune rankings on where homes sell the fastest and according to them -- alejo -- it's one of the most affordable places to buy a the san francisco market ranked number two on the list -- vallejo, california -- in the bay area has a one-way shower -- car sharing. >>> similar to services like zipcar, renters can take the car to any designated location in oakland and berkeley and it's about $18 an hour or $85 a day. >>> millions of americans are addicted to celebrate the fourth of july from hotdogs to fireworks and those red white and blue shirts, jerry willis breaks down how much peo

nike is far and away the world's largest sports performance company.h do you think about nike? >> they don't fight fair. >> why not? >> big companies, they have got more money. when we run a commercial, we have one shot. >> true or false, in the early days of under armour you used to send the head of nike, a christmas card every year and say you will >> the people i was trying to recruit and i was hitting this, as it was us verses them. and everybody was like, are you crazy? you are not on the radar. but to me we were always on the radar and in the fight. >> you guys, for better part of a decade were growing rocket ship to the moon and double digit growth every year and in the fourth quarter last year you hit a little roadblock that scared wall street. what happened there? >> i think we found there was a shifting market that was happening in the marketplace where the obligation of brands is to make sure that first of all, freshness and newness, whoever makes the best product will win, and all these things were converging at one moment in time. >> plank

charlize theron wins everyone a pair of nikes.tt damon. but first it's game five of the nba finals on abc. ♪ [ cheers and applause ] hi guys. in the desert.be here. at the mall. on the mountain. at school. at the beach. the big easy. yeah yeah today i want to show you guys e next-gen chevy equinox. what do you think? that's pretty. pretty sexy. it looks aggressive. but not overbearing. it's not too big. not too small. seems like the perfect car for anybody. i would take it anywhere. she's a bad mama jama. (laughter) current qualified gm lessees can get this introductory lease on the all-new 2018 chevy equinox for around $249 a month. find new roads at your local chevy dealer. >>> game four. was everything it needed to be. >> let me get my money's worth, if i'm going to get some techs. ♪ well ♪ yeah yeah >> with their legacy at stake, the cavs were determined to defend the land, by any means necessary. >> james. pass to himself, and he throws it down! >> records were shattered. emotions grabbed control. and controversy fueled the m

charlize theron wins everyone a pair of nikes. damon. but first it's game five of the nba finals on abc. ♪ [ cheers and applause ] today, we spend a whole lot of time like this. so at citizens bank, we've created banking tools that fit how you're living today. from advanced atms... to online banking... to our award winning mobile app. and if you prefer face-to-face, we have that too. ask me, terry goggans, how our balance of technology and people can help you. ♪ askit's here. goggans, the first night your teenage daughter stays out way too late. but after three years of specialist cancer care, to guide her into remission, you couldn't be happier about it. aetna. you don't join us, we join you. >>> game four. was everything it needed to be. >> let me get my money's worth, if i'm going to get some techs. ♪ well ♪ yeah yeah >> with their legacy at stake, the cavs were determined to defend the land, by any means necessary. >> james. pass to himself, and he throws it down! >> records were shattered. emotions grabbed control. and contro