up next, papa john's problems.he ousted founder is sounding off on the pizza giant's ceo. >>> and toyota and uber linking up for a big money deal. how it may affect your next ride when "worldwide exchange" returns. can be relentless.is tremfya® is for adults with moderate to severe plaque psoriasis. i'm ready. with tremfya®, you can get clearer. and stay clearer. in fact, most patients who saw 90% clearer skin at 28 weeks stayed clearer through 48 weeks. tremfya® works better than humira® at providing clearer skin, and more patients were symptom free with tremfya®. tremfya® may lower your ability to fight infections and may increase your risk of infections. before treatment, your doctor should check you for infections and tuberculosis. tell your doctor if you have an infection or have symptoms such as: fever, sweats, chills, muscle aches or cough. before starting tremfya® tell your doctor if you plan to or have recently received a vaccine. ask your doctor about tremfya®. tremfya®. because you deserve to stay cleare

and papa john's pizza took a hit to their q two earnings with a drop in sales of six point one percent in december of two thousand and sixteen the company had a stock all time high of north of ninety dollars per share but since it has lost fifty percent of its value related to store sales growth while q two ended on june thirtieth since then there's been a public feud after the founder the major shareholder john gadar the papa john himself resigned as chairman of the board on july eleventh and admitted to using racial slurs during a conference call papa john still sits on the board and remains the largest shareholder in the company and it seems that the negative sales must be impacting the company as we'll see the third quarter hold for the troubled pizza chain coming up. and here to talk pizza is fred kaufman author about the farm how food stop being food fred thank you so much for being with us now this debacle that quite frankly we haven't covered it too much on the show the whole papa john's racial slur and everything but now that their numbers are really want to get to it their de

julie: up next, the hazards of papa john's pizza being all about papa john. and south bank's big bet on brand lists. julie: this is "bloomberg businessweek." ♪ ♪ julie: welcome to "bloomberg businessweek." i am julie hyman. taylor: i am taylor riggs. in this week's issue, we are traveling over to the pacific northwest. portland, oregon is looking to revamp its image. julie: from there to mexico. we will be talking about tequila and bacardi's interest on the patron brand. can they own it without diluting it? taylor: we are continuing our conversation on the ever important key man risk. julie: our reporter look at the example of papa john's and the ceo who was recently ousted after causing controversy. julie: some -- taylor: really some questions as to whether the company can survive without him. julie: here is susan. susan: he said to us, the company does better when i am there. in the past, he has left twice before. he has never gone too far. from what we understand and even what he wrote in his biography, he was keeping a very close eye on the people who rep

julie: up next, the hazards of papa john's pizza being all about papa john.nd south bank's big bet on brand lists. julie: this is "bloomberg businessweek." ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. ♪ julie: welcome to "bloomberg businessweek." i am julie hyman. taylor: i am taylor riggs. in this week's issue, we are traveling over to the pacific northwest. portland, oregon is looking to revamp its image. julie: from there to mexico. we will be talking about tequila and bacardi's interest on the patron brand. can they only two without diluting the? taylor: we are continuing our conversation on the ever importa

papa john's, we deliver to their homes. how could we get that information on our customers. we worked hard because we had different systems. we launched an app in 2012. all of this one-to-one information itches key for marketing. in our app has a .5 million customers. so we can tell what you do, how often you call him. what products you like. what products you don't like. that is absolutely powerful so i think that's the best example that technology will keep changing. the way i see the football team or soccer team, it's about content. the world is changing dramatically. streaming and over-the-top i think will become more important. then terrestrial cable, satellite tv. the whole revolution on sports betting that's about to happen in this country. i heard on a podcast the other day that that will become a $15 billion business very quickly. so, technology is exciting but it's probably the true challenger to all of us that run companies. >> nigel travis is the ceo and chairman of dunkin brands. he's the author of "the challenge culture: why the most successful organizationsrun

. >>> coming up, papa john caused a scandal for papa john's. the pizza chain is bailing out franchisees hurt by the recent pr crisis. romans has the cnn money next. ...onlout 80% of your part b medicare costs. a medicare supplement insurance plan may help cover some of the rest. learn how an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company might be the right choice for you. a free decision guide is a great place to start. call today to request yours. so what makes an aarp medicare supplement plan unique? these are the only medicare supplement plans endorsed by aarp because they meet aarp's high standards of quality and service. you're also getting the great features that any medicare supplement plan provides. you may choose any doctor that accepts medicare patients. you can even visit a specialist. with this type of plan there are no networks or referrals needed. also, a medicare supplement plan... ...goes with you when you travel anywhere in the u.s. call today for a free guide. does your business internet

this is the new president and ceo papa john's.hile results have been challenged by recent events, we are committed to the strategic priorities they say. been blamingtly the nfl for declining sales. it has been a tough road. romaine: the sales were declining long before that of happening -- that was happening. and it is not is happening. you look at all of these fast pizza target companies, they have been struggling. scarlet: papa john's is down 4% in after-hours trading. live from new york, this is bloomberg. ♪ mark: i'm mark crumpton with first word news. trump's preferred congressional candidate and his chief legislative achievements are about to be tested in ohio in the season's final high-stakes special election. none of the states had a bigger race then kansas. for the second year in a row, california is battling the largest wildfire in history. the twin fire system north of san francisco has burned 75 homes and more than 440 square miles of forest lands. it is the largest of nearly 20 big fires burning in the state. they're

and papa john's pizza took a hit to their q two earnings with a drop in sales of six point one percent in december of two thousand and sixteen the company had a stock all time high of north of ninety dollars per share but since it has lost fifty percent of its value related to store sales growth while q two ended on june thirtieth since then there's been a public feud after the founder of the major shareholder john gaddar the papa john himself resigned as chairman of the board on july eleventh and admitted to using racial slurs during a conference call papa john still sits on the board and remains the largest shareholder in the company and it seems that the negative sales must be impacting the company as we'll see the third quarter.

. >>> papa john's is bailing out franchisees over the nightmare. y after john schnatter used a racial slur on the conference call. papa john's will offer assistance including cutting royalties and food prices and online fees. it helps to pay for marketing images. papa john's stopped using schnatter's image when he stepped down. >> the two companies. s -- tesla and papa john's so closely identify with the ceos. >>> and charges after a fatal shooting over a parking space. and prosecutors say why they see it differently. is the best way to keep in touch. or keep tabs on their "extra curricular" activities. he skipped orientation for the beach? he takes after me. you know it's true. oh yeah. join t-mobile and get an iphone for everyone in the family. buy an iphone 8, get an iphone 8, on us. only at t-mobile. gentle means everything to you and to us. so at johnson's, we improved everything. we used 50% fewer ingredients. took out dyes, parabens, phthalates and sulfates. beat the top safety standards in the world and added one handed pumps. gentle means p

jackie: tracee carrasco from sister network how papa johns is taking action to win you back.: papa johns still apologizing trying to distance themselves from john schnatter and apologizing and we expected better, we know you expected better, so did we, we are sorry, this is one of many apologizes that the company has issued following all of this scandal that has surrounded john schnatter, ceo of the company saying that leadership there has received training in a statement, he said, recently the papa johns leadership completed unconscious bias training will be rolling tout program across the company, leadership is also going to take a listening tour to franchises to kind of get feedback there from the owners to see what else they can do to make things right with customers. jackie: still summer especially in new york city with the heat wave we will have but it's fall dunkin doughnuts. tracee: it sure is, pumpkin flavored, everything will be back on menu at dunkin donuts, maple cream cheese spread and maple crisp donut and crÍficky topping. that sounds good. rob: 95-degree this

shares of disney in after-hours trading. >> papa john's reporting trade-ins? ales took a huge hit in the recent quarter and for the month of july at the company dealt with the resignation of founder and chairman john schneider, shares fell by 11%. the company says it will spend $50 million this year on advisers and consultants to remake an image and handled the aftermath of the departure pitcher is a papa john's followed by as much as 12% in after hours trading. yesterday down 24% year to date. cheryl: they cannot recover from those scandalous head. >> following the trend we've been seeing with social media companies reporting earnings. despite growth for the quarter, snap said revenue rose 44% from a year ago to $262 million. the company reported losses of $353 million which is lower compared to a year ago. shares of snap jumped almost 11% but quickly fell into negative territory after the company wouldn't give clear guidance unexpected user growth in the third quarter. plastic surgeons see a trend of people bringing in their own self is coming usually edited

papa john got caught saying the n-word on a conference call and i was like, "what?!"ht? it was a conference call. you didn't get caught. you got heard. [ laughter ] [ cheers and applause ]n then wople got mad, he said he was -- and i am not ed kidding -- "foo use it." and i was like, "what!!" someone forced you to e n-word? you can't force someone to say the n-word. watch. hey, seth, say the n-word. >> seth: no! [ light laughter ] >> say it now! >> seth: no, and don't cut back to me anymore. [ laughter ] >> do it! >> seth: no! >> see? you can't make someone say it. i theard a cvs manager called the cops on a black lady for trying to use a coupon. and i was like, "what?" because they always treat me like a queen at cvs. and by that i mean they're always walking behind me. [ laughter ] the black people clap, and the white people got sad.ht [ la and applause ] then a raccoon climbed building. and i was like, "what -- are my nightmares doing coming to life?" and people were like, "isn't that cute?" and i was like, "what? the building? i guess for a building." and they wer

shares of papa john's up 10% today.ank of america and lazard as financial advisers to advise the company on the business and, quote, it's too premature to say that the board has authorize good further action what a saga this one has. >> we know the market cap is 1.4 billion. >> but my point is that when you have a company where most of it is the brand value papa john's is the value of the company and yet you have this weird thing. >> his name is on it >> it is the papa john's >> the 2,000 locations, obviously. you know, a lot of franchisees and they have reputational damage to deal with. >> they're not leaning back on the quality. >> they're not marketing the tomato sauce >> procter & gamble may soon be laughing out loud. >> is that lol >> yeah. the company reportedly applying millennial-friendly acronyms like lol and mbd and would this make you omg >> i always see stories like that and i say, can we do that >> this is an exploratory phase. they're looking to trademark it with soaps and detergents. unclear whether they'

don't think this is an investable company >> we have earnings on poppy john's >> this looking to be a pretty ugly second quarter for papa johnny john's analysts had been looking for 425.5 million. system wide north american comps are down 6%. the street had been looking for a drop around 4.9% comps had been down for two quarters since the founder and ceo made comments on a conference call. their new range from $2.05 and the stock is down around 5% and their conference call to the new ceo steve richy will be on the call and taking questions from analysts and now moving onto wendy's eps coming in at 14% adjusted. they beat on revenues 411 million versus estimates of 408 million. comps up 1.8%. the restaurant point out this is their 22 nd of positive comps and that stock isn't doing much right now, guys. back over to you >> kate, remind me the whole drama, the ousting of the cfo, all of the stuff you've bip coffering now, did any of that happen within the calendar quarter we're talking about here so that's not an excuse in theory for what are very bad numbers? >> that's right. this is for the quarter that ended june, that

so that's the one i think it pulls back >> isn't papa john's the end game >> in a note, they theorize that's possible. >> wendy's pick someone someone's going to buy them at 1.5 billion whatever the market cap is now this is a rebrand story that i would argue is even bigger than chipoltle. >> i'm intrigue bid the chipoltle side >> i've got the chicken. >> you agree on that chipoltle >> it's taken something that really wasn't -- and he's right. the place dlirgs and clean and fun and fast >> the menu changes, the markets that's about to come this is an adult management team just expensive my only problem with it. >> and a partnership withj -- you've made the exception for other stocks when to you make the exception for this one >> i'm just looking for a couple of bad days. maybe they have another bad headline safety issues. i would definitely consider it >> joe's point, got that with -- >> got me out of the stock >> then went right back up >> listen. i forgot >> this is a management. it was always management >> by the way, where -- >> chipoltle reminds me of panera >> the best performer

we're working our way through it we got through tesla and disney and papa johns this morning.'t touched on trade the u.s. is finalizing plans to impose 25% tariffs on $16 billion in chinese goods going to start on the 23rd of the month. this is the second under section 301. chinese have already announced plans to retaliate on things like u.s. coal, oil, cars, bikes, some medical products >> yeah. >> they do a lot of products for china. these are things that are beginning to hurt the chinese. obviously, showing they can take a lot of pain. today no articles about apple. does apple trade back up >> i don't know. >> it's incredible i mean, bikes yeah i've been trying to buy an american bike for ages i bought a brooklyn bike i don't know if it was made in brooklyn. >> interestingly china july trade data up 12.2. [ applause ] [ opening bell ] >> do we have a restraint on their ipos >> i don't know. listen, you know, i thought the nxp qualcomm decision or lack of decision would be a larger impediment than it seems to have been even in the broader market but certainly in the relation

perhaps a signed bill of softening conditions in the housing market >>> meantime shares of papa john'stoday after an upgrade long bow says the negative investors sentiment is now fully baked into the share price our word, not his. this comes as papa john's throws its franchisees a buffer >> it offered a program in the form of royaltiy reductions, food service pricing and online fees through 2018. this comes after the ceo admitted to using a racial slur in a conference collin may and the negative publicly has impacted the board as store sales fell in july remarketing and reimaging efforts consistent with the company's branding the president of the papa john's franchise association said in a statement we believe it is time for the founder to move on steve richy the ceo is pursuing the right initiative to re reinvigorate growth. pointing to a statement, saying i have little doubt the company's performance will continue to deteriorate under the current ceo and board of directors. the 10.5% sales decline in july they actually said it wasn't as bad as they were expecting >> so they were expe

. >>> papa john saga continues today. papa john slamming the founder john schnatter by going off script at the conference call last fall. that sparked backlash on social media and schnatter stepped down. he was asked not to leave the company until earlier this year after using a racial slur on the conference call. since then, he publicly criticized his former company. >>> "early start" continues right now. >>> the president's legal team reportedly looking for help to handle possible impeachment proceedings. the chief white house counsel out the door next month. >>> controlled by the state since 1965. >> can you stop interrupting? >> insults flying as democrats square off for the first time in the new york governor's race. >>> a case of road rage. an uber driver with a gun and case of mistaken identity. how a man ended up dead and why police say it was justified. good morning. welcome to "early start." i'm dave briggs. >> i'm kaylee hartung in for christine romans. thanks for having me. it is 5:00 a.m. in the east. "the wa

and papa john's pizza took a hit to their q two earnings with a drop in sales of six point one percent in december of two thousand and sixteen the company had a stock all time high of north of ninety dollars per share but since it has lost fifty percent of its value related to store sales growth while q two ended on june thirtieth since then there's been a public feud after the founder of the major shareholder john gaddar the papa john himself resigned as chairman of the board on july eleventh and admitted to using racial slurs during a conference call papa john still sits on the board and remains the largest shareholder in the company and it seems that the negative sales must be impacting the company as we'll see the third quarter hold for the troubled pizza chain coming up. and here to talk pizza is fred kaufman author about the farm how food stop being food fred thank you so much for being with us now this debacle that quite frankly we haven't covered it too much on the show the whole papa john's racial slur and everything but now that their numbers are really want to get to it they

. >> more trouble for the pizza chain papa john's. and more from the world of wall street.ore. the do you rallied 122 points. the nasdaq adding 23. >>> and elon musk is considering taking his shares private. following the news, trading in teesla was stopped. >>> papa john's' sales has now dropped. the company says-of-blames its former ceo. >>> freddie mac is launching a new program offering cheaper financing to owner who can't afford increases. >>> the brady but much home has a new show and it was quite a bidding war. >> right? here is the story of a house named brady. the new owner of the brady bunch house is hgtv. last month, the home went on the market for the first time since 1973. handful of bid came in, including from lance bass but he was outbid. the final price has not been released. >> i'm with you michele on that. >> you didn't sing it. you just said the word. in just a few hours.. in san francisco.. jurors will begin deliberating in the case of chemical giant monsanto.. , bay >>> in just a few hours in san francisco, jurors will begin deliberating in the case of

visit att.com >>> welcome back shares of papa john's climbing higher offering franchisees a lifelinethe form of royaltiy rejunctions, food service pricing and online fees through 2018 this comes after the company's founder and former ceo admitted to using a racial slur on a conference call back in may causal him to then resign as chairman of the company's board. the negative publicity has impacted the brand as it fell more than 10.% in july this is all very important as the company is 80% franchised in north america. the president of the papa john's franchise association said in a statement we believe it is time for it founder to move on. steve richie, the new ceo is pursuing the right initiatives to reinvigorate growth and recognizes the importance of working together to move ahead successfully schnatter's representatives saying quote, i have little doubt the company's financial performance will continue to deteriorate understand the current ceo and board of directors. spoke to several franchise lawyers today who said this situation is very different as the founder is tied to some o

leadership and then purporting to investigate themselves after all of this transpired this morning, papa john'se back with this statement. john schnatter will do anything to distract attention from the harm caused by his inappropriate words. he continues to make reckless allegations in his attempt to regain control and serve his own interests. they are entirely without merit and we will vigorously defend against these baseless claims. the defense against baseless claims is again vigorously so we'll see what happens. >> this is the gift that keeps on giving. >> both sides both feel they have really clear arguments here. >> it all boils down to the dough. >> the dough dough >> the dough. >> or is it in the sauce >> it's all about the dough. all right, kate, thank you >>> now on to the bond market. rick santelli tracking the action for us at the cme good pizza in chicago too. hi, rick. >> hi. you know, it's an interesting day. we're down a couple basis points but we are up three on the week. you can see it on that one-week chart. a month to date of 10-year considering last trading day of august, w

this story does not seem to end but drama unfold with papa johns founder john he created a website save papa johns.com to air his grievances and in a letter posted there, two franchises he said company board asked hem to become executive chairman in june after he told members that current ceo steve richards richie needed to go according to snyder board agreed with him all of this allegedly unfolding before snyder resigned from role after it was discovered that he used a rational slur during a media training exercise. lauren: whab meat and missouri link those two for me. now first state to have a law that products food makers from using the word meat to refer to anything other than real animal flesh. this targets manufactures of so-called fake or nontraditional meat like products made from soy. violators of this law could be fined $1,000 and face a year of jail time. cheryl: that shows the pressure that is on beef industry because many are going plant base sod there you go. >> i haven't gone plant based. thank you tracee. thanks. a lot more coming up this morning the mystery grows about

the latest in the nasty food fight between papa johns and what john schnatter is saying his replacement new management it's a doozy power lunch back right after this big, bold promises like... it'll transform the human race! it's gonna solve unsolvable problems! it'll find life on mars! but here's the thing. you don't live on mars. you build wind turbines. supply car parts to thousands of cities. answer millions of customer calls a year. like this one: no, i didn't order this. it's terrifying. you run a real business with real roll-up-your-sleeves business needs. and that's why you work with watson. hello. so it can analyze weather data to help retailers increase foot traffic. assist thousands of online banking customers each week. and reduce delays for 25 million passengers. mahalo. watson isn't just the promise of ai. it's the real deal deep learning business ai. that knows your industry, protects your insights, and works with tools you already use. that's why it's the best ai for the job. tap one little bumper and up go your rates. and works with tools you already use. what good is y

and they are blaming papa john himself... last month, john schnatter admied to using the n-word on a conference call. schnatter apologized and resigned as the company's chairman soon after forbes published a story about the incident. but he still remains on the board, and owns 29-percent of the company's stock. (vicki) ahead at nine... the search for a missing little boy led police to a underground bunker... filled with eleven starving children.... the disturbing discovery officials uncovered today during their search. (grant) plus.. over a dozen wildfires are burning across california... tonight how one community is helping out those who have lost everything. (vicki) and up next... a music promoter shot and killed while driving on the bay bridge.... tonight - we will hear from his family - as police search for the gunman.... ♪ ♪ ♪ i put a spell on you ♪ yeah, because you're mine ♪ with chase atms serena can now grab cash on the go, all with the tap of her phone. ♪ stop the things you do no card? no problem. life, lived seren

also watch papa john's. >>> advocates say an automobile limit would raise taxes on drivers. >>> finally a new phone from samsung,he company will unveil the galaxy note 9 at its unpacked event on thsday. other products may be announced includes up dated tablets and watches. >>> president trump lashes out at anr nba snd midterm elections, they're getting closer. 's been anotherrazy week in politics. >> moderator ofs,meet the pr chuck todd, you have been talking a lot about kind of the pattern of these attacks, we're talking about lebron james and some other things, and how 's kind ofed into that. you think there's a pattern? >> ther s alwayspattern, the grievances increase, the anger, the angry ton increases whenever he feels under siege. his supporters will say he's frustrated by the mueller probe, the manafort trial. d his detractors say that erything's closing in and it is. the start of the paul manafort trial we see, especially over the weekend, they have been trng to dismiss the manafort trial as there's nothing to do with this, there's a bit of a cliffhanger in the manafort trial. h

want to note papa john's up on those reports.nk you. >>> elon musk has a plan to reduce traffic congestion in los angeles during dodgers games his boring company is proposing a tunnel to ferry fans to and from the stadium, called the dugout loop. joining us, dodgers chief financial officer, tucker cane good to speak with you >> good to be here, thanks >> you had an announcement recently but it is light on details when would you expect this to be built and given the fact it is 100% privately funded, are you going to contribute to that? >> the expectation right now is that we'll have approvals early next year and get started building the tunnel, hopefully have it opened by the end of 2019, in time for 2020 season, which is when the dodgers are hosting mlb all-star game. hopefully a great opportunity for our fans to take advantage of the new, innovative transportation option. and the tunnel at the moment is going to be fully financed by the boring company, something we're excited about, appreciative of the work being done by the bor

stay tuned you're watching "squawk box" on cnbc >>> papa john's is blaming papa john for a 10% dip inn july the outfit founder says the company is trying to deflect attention from the real source of the problem the stock is down more than 10%. kate rogers joining us now with more that's the guy, we call him papa john >> he is papa john good morning the pizza chain reporting a disappointing second quarter with misses on the top and bottom lines and a drop in north american same-store sales of 6.1% this comes as founder and former ceo john schnotter resigned from the board. while this quarter ended before the drama began, the negative publicity has affected sales in a meaningful way sales are down 10.5% in north america. guidance was also lowered significantly for the full-year. schnatter weighed in after the report crossed aing in a statement as i communicated to the board as early as december 2016 and several times in 2017 i'm concerned about the company's declining sales, financial performance and most importantly the direction the company is headed under the stewardship of steve ric

. >>> papa john's down 18% in a month, the options show it's set. jon and pete pzza >> that's right. a stock that's been maligned and today, now, judge, they come in scrambling buying upside calls and they've been right as you can see stock's up $3.25 now they were buying it when the stock was up less than a dollar. so, which ones are they buying because that's always important. papa john's they're coming in buying october 45s giving themselves time to be right. i bought these calls as well on this rally if it gets up to another 50 centers or a buck i will sell a higher stripe against it >> hold on one second, joe has a comment on pizza >> it's for either jon or for pete are you also seeing the same type of activity in wendy's? because that's up 3% it's got an outside move today and there's obviously conversation about these two companies collaborating. >> i did not see >> i did not see any upside calls in wendy's, joe, but you're right about the movement in the underlying stock. >> there's the stock behind you. a nice move of about 3%. the other on

. >> we begin tonight with papa john's. the analyst says it can only get better from here, following the recent controveral departure of the founder. price target now $52, the stock rose more than 3% ditoday. was downgraded to sell from neral. the analysts cites the uncertainty due to the company's spectrum holdings which he says has gotten worse. the stock was down half a percent. >> acami was downgraded to neutral. increased competition will make revenue growth more difficult next year. the price target is $84. the stock is trading below that level at 72 even. doar tree was upgraded to overweight from neutral at atlantic equities. the analyst there cites an inflexion in sentiment. the stock rose fractionally to 92.97. >>> still ahead, how will harley-davidson handle being a target of the presi fnt? we'll sod out. >>> the natnal retail federation expects retail sales to be even stronger than first thought. spending is expected to climb at least 4 1/2% this year. the trade organization cites tax reform a other upbeat econom

. >>> papa john's will cut royalties and fees that it charges the franchisees.his comes days after same store sales fell more than 10% in july and the fallout of the founder papa john's stock is up about 2% right now. >>> roach says the breakthrough strategy to use zoe layer to treat severe food allergies. breakthrough status is a process designed to expedite the development and review of drugs. roche is off half a percent despite that news. >>> housing market check and wow what a pga championship. it is in the books there is sure to be a lot of talk about tiger woods today if you missed it, we'll show you the highlights stick around olay ultra moisture body wash gives skin the moisture it needs and keeps it there longer with lock-in moisture technology skin is petal smooth after all, a cleanser's just a cleanser unless it's olay. that's confident. but it's not kayak confident. kayak searches hundreds of travel and airline sites to find the best flight for me. so i'm more than confident. how's your family? kayak. search one and done. >>> welcome back an update o

papa john dpid that. says schnatter was ceo over until it was taken over.ay for electric scooters in santa monica what the city is dngoi and why other cities are paying attention to it. s... to find the best deal on the right hotel for you. tripadvisor. >>> on the matter. a announcement on the matter adidi roy on the scooter beat. adidi. >> it's a fun beat to be on. hey there. santa monica has been on the front lines since a few months ago. byrd and line dropped the devices on city streets without warning or permission. and today city officials will announce which two bike tai share companies and which skoorpt companies will be allowed to operate under a license when they have a pilot program that launching next month. 18 applications have been filed. earlier this month, both bird and lime launched a protest called a day without scooters. that after a city committee recommended uber and lyft as the top choices for the pilot program. now scooter users say they are easy and maneuver well and more affordable than a car or public transportation but there are cr

. >>> papa johns wasupgraded to buy from neutral. the analyst saysof the salhe company makes sense, and the odds of an acquisition may be increasing. price target now, 52.50. the stock rose a fraction. >>> h teslas areot, but there that sector s in that may get even hotter. >>> toyota and uber will reportedly jointly develop driverless vehicles. according to the wall street journal, toyota will invest $500 million in the autonomous pact. uber had been looking for way to lower development costs involving one of its vehicles earlier this year. >> investo got their first chance today to react to news of sla, saying it plans to remain a publicly traded there is some concern, the shares fell more than 1%. the decision adds a briefh flirtation woing private. it does not mk an end to many legal and business questions. phil lebeau has more. >> the big corporate story that started w bh ag nearly three weeks ago, has ended with a whimper. elonmusk, who created a frenzy by saying he might take his company private and aluation topping $70 billio

papa john's said he recused himself from the process we reached out to papa john's and endeavor the stockht now. back to you. >> getting messy. >> one nasty fight for sure. >> he is not going without a fight. clearly. >> thank you for the latest on that. >>> coming up on "the closing bell" chances of a federal reserve rate hike and impact on banks. florida bankers association ceo alex sanchez will join us on that show. >>> meantime, "squawk alley" is next dow is up six points >>> good morning, it is 8:00 a.m. at apple headquarters in cupertino, 11:00 a.m. on wall street "squawk alley" is live ♪ what you want ♪ baby i got ♪ what you need ♪ do you know i got it ♪ all i'm asking is for a littl respect, come on, hey baby ♪ when you get home, mister. >>> good friday morning. welcome to "squawk alley." post 9 of the new york stock exchange markets are reflecting a couple of things. one is a friday before a long labor day weekend, also uncertainty behind the u.s. canada trade talks which continue even as we speak. >> tech is a winner today, has been all month we are watching specifically amazon

. >>> manwhile papa john's reports a key sales figure fell 10.5%. the company blames its founder. zza chain is trying to distance itself from john schnatter. he was forced out after a report last month revealed he used a racial epithet during a media training session. schnatter blamed the current leadership for the sales decline. >>> and reynolds wrap is looking for a chief grilling officer. it's a temporary job, but you get to spend two weeks traveling around the u.s. eating barbecue. the grilling chief and a guest will get a $10,000 stipend plus prepaid travel and lodging. the grilling officer's job will include grilling techniques and a dish to publish on its website. >> i'm sure they'll have no problem getting applications for that job. diane king hall at the new york stock exchange. thanks a lot, diane. >> all right. thank you. >>> still ahead, a champion on ice. we remember sam mikita who made history as a player on the chicago blackhawks. player on the chicago blackhawks. because there are options. like an "unjection™". xeljanz xr. a once-daily pill for adults with moderate

papa john sales down and not so yowsy rosy blamed it on john schneider qow touch this thing within apole? >> absolutely not, and things getting worse. it is partly about management and partly if the -- what's happened with the nl, the pushback from, you know, viewers who don't like what papa johns has said so nowhere are to go i think but down and not worth bottom picking down here. >> john sued the company right? >> so it has been -- litigation for a while now. >> like risk. yes. down it goes. the clothing retailer abercrombie and fitch going to let you pay with vinmo everybody else know what is it is. i'm not so sure. christina this is -- >> don't laugh. i downloaded it, i can sending you money in a few secondings. >> i can walk into that with my gizmo right here. if you're a millennial. with vinmo and flash this thing and i'll pay. >> not aing system but alabama beer abercrombie but trying to gear to millennial and judger generation and it is increasing they just launched in 2009. and it is making cashless transactions a lot easier. >> what's the difference between that and apple

rob, thanks for the time, good to see you >>> let's send it over to dom who's got a news alert on papa john'ster is telling cnbc in an interview that he does not have a lot of faith in of what's happening at papa john's or on the board also saying that he thought he told the board a few months ago that the ceo was quote, unquote drowning and needed help he also says franchisees don't believe in this leadership or this management team and i don't believe this board has the confidence to help steer this company in the right direction he does say, i'm a principal shareholder, i'm a founder and i'm a director, so i have lots of say on what's going on. go to cnbc, the full interview is on that site right now. >> after the bell this afternoon, cbs will report its earnings, certainly going to be focussing on the numbers themselves long time ceo leslie moonves last friday detailing accusations from at least six women of sexual misconduct on the part of mr. moonves, he has not been suspended, he has not been fired what has happened late yesterday is that the cbs has told us that they are investigating

david: let's talk about papa john.s a shift in the did -- heter says he wished he did not get put out. he wrote a letter. -- i built this company from the ground up and am still its largest shareholder. results demonstrate i know what works and what does not work for this company. that is john schneider -- john schnatter. >> this was a business that was already struggling. clearly there was a lot of drama there. it will be interesting to see if the price continues to go lower. this could be a private equity target. alix: with garlic sauce. david: thanks so much, jason kelly. coming up, really substantially, that is how much drug prices will drop according to president trump. we will look at how his next moves could affect companies such as cvs. alix: if you have the bloomberg terminal, you can check out tv and check out anything you may have missed. this is bloomberg. ♪ david: last night, president trump took a break from his vacation to meet with a group of ceos and he promised that next week is going to be a big

this is different than other former ceo issues because schnatter owns 30% of papa john's >>> in sportsrs is the nfl's highest paid player. the packers quarterback agreed to a four-year extension worth $134 million if he remains a top quarterback and the packers keep making the playoffs, that deal could be worth up to $180 million if you see a game on the line with him, it's amazing one guy, rodgers -- >> no other position in sport has that importance. plus so much money these teams have >> they do >> yeah. it's all front-loaded. tons of cash i will ask liesman if it will move the personal income numbers over the next couple of quarters >> big number. >> big number. >>> sparks were flying in new york last night at the democratic primary debate for new york's gubernatorial race. andrew cuomo low is facing a challenge from cynthia nixon the two candidates clashing on everything from new york city's embattled subway system to president trump. >> can you stop interrupting >> can you stop lying? >> as soon as you do >> new yorkers will cast their votes on september 13th. >> i know you are, b

. >> papa john's was upgraded to buy from hold to jefferies.nalyst there believes that the board may evaluate strategic alternatives for the compayo and what that mean, given the recent departure of its founder, the price target $58 and that stock rose a fraction to $42. today. >>> first solar was added to the focus list at j.p. morgan. the analyst says this is an attractive entry point for the best in-crass company as he put it. the price target $79. the shares ros 2% today to $53.38. still ahead, lowerd priealth care coverage, but does it come at a cost? ♪ ♪ ♪ ♪ ♪ >> investors were watchingsh es of apple today to see whether they would hit the $1il on mark in market valuation. it didn't happen, so here's where the three biggest publicly traded companies happen. apples in the lead. the market capitalization of 173 llion. amazon is a distant second followed by alphabet. >> the t hasury departmen proposed rules on how companies can bring home income sitting overseas. that income now amounts to more than $2.5 trillion. experts say this key step i

it comes on the heels of controversy surrounding papa john's founder john schnatter. he stepped down as chairman last month after it was revealed he used the n-word on a conference call. the company distanced itself from schnatter - removing his image from all company marketing materials. (vicki) a flock of birds hit a plane that took off from s-f-o... forcing it to make an emergency landing. kron 4's sara stinson has details of the scary situation from the airport. "for passengers on this singapore bound flight from sfo, the emergency landing was just the first inconvenience. what they didn't know after that was that they would be waiting in line for hours experiencing flight cancelation after flight cancelation.""waiting for the last eight hours and no one is clarifying a thing."the united flight was one hour in - when a flock of birds flew right into the nose of the boeing 787 dream liner.the pilot decided to turn the plane around to make sure the engine wasn't impacted by the birds. the plane circled for an hour dumping the fuel before safely making an emergency l

. >> also, papa john's going to cut royalties and the fees it charges franchisees in the u.s.a sales fell more than 10 poers in july amid the fallout over the exit of its founder. roche says the fda granted breakthrough therapy sat status to use an allergy drug to treat severe food allergies. u.s. equity futures at this hour are improving from the last time we checked down about 53 on sort of the angst about the turkish lira that's affecting local markets the s&p down 5 michelle has more on this. >> our top global story, in fact, turkey's currency crisis, the lira hitting a record low overnight. joining us is the chief currency status at mellon so if i understand correctly, the turkish central bank didn't officially raise interest rates in their announcement. they did something akin to a stealth tightening, right? is this why we've seen the lira stabilize? >> i think a little bit of that. i think the one thing you can absolutely say is that you've had -- from the central bank you've also had some kind of control as to the -- that can be done with turkish banks. >> is it enough

papa john's down about .2%. this is "bloomberg." ♪ . vonnie: 11:00 a.m. in new york and 11:00 p.m.ong. 30 minutes left in the trading day in europe. from new york, i am vonnie quinn and this is the european close on bloomberg markets. here are the top stories we are covering. indexes are fluctuating slightly higher as trade talks advance. technology shares are advancing. a fifth monthly high for the s&p 500. we will speak with omair sharif about president trump's threat for tariffs on $200 billion of chinese imports and how it could inflect -- affect inflation in the united states. --exclusive interview with 90 minutes left into the trading day in the united states. abigail doolittle is with us. >> small gains for major