out to a big tech company in a trade sale >> all right gentlemen, thank you for joining us today paul hollandnd professor jay ritter paul, please eat some delicious pastries for me on your european tour thank you. >> i'm way ahead of you. way ahead. >> okay. good, i'm glad to hear it. all right, well, new defense giant l3 harris technologies began trading this morning here at the new york stock exchange after completing its merger of equals over the weekend. this was 8 1/2 months in the making two industry heavyweights in aerospace and defense, you have bill brown, who took the helm as ceo and chairman of the combined companies. also chris cue baseick, who will operate as coo, at least for the first years before taking the helm as coo himself. they joined us exclusively earlier on "squawk on the street." here's kubasik >> for the first three years, we have pretty major focuses it number one, research and development. we have an industry leading position as far as investing in r&d. we'll spend a couple hundred milliontegrating the business this morning, we announced a $4 billion share repurcha

joining us this morning is paul holland, general partner at foundation capital and early netflix investor as well as our own julia boorstin paul, you're always good at explaining what they're up to, really, and defending them is that going to get harder, do you think, in the quarters to come >> well, it's -- it's, i guess, nice of you to identify and defend them from that perspective. i just simply try to, you know, identify the people, this very large trend that's happening around media and, you know, you're going to see with a company like a netflix that's a growth stock, you're going to go kind of quarter after quarter after quarter that they're going to do great and you're going to do some quarters that are going to be a bit of a speed bump or a divot. and apparently they just went through one of those but i lookat the existential trend, the secular trend i thought about this one, i was thinking about yesterday when i got the call from you guys really over the last 50 years, we've seen two kind of huge things impact the media market we've seen the internet and we've seen netflix and t

flirting with the red and the green, but the dow is down 58 when we come back, early netflix investor paul hollandalley" starts in a moment prevagen is the number one pharmacist recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. don't miss your gto experience our most advanced safety technology on a full line of vehicles. now, at the lexus golden opportunity sales event. lease the 2019 es 350 for $379 a month, for 36 months, and we'll make your first month's payment. experience amazing. - when i see obstacles, i create opportunities. (soft music) - when i see adversity, i find a way. - when i hear never, i say now. - [announcer] southern new hampshire university is education made to fit your goals with over 200 degree programs, flexible class schedules, and some of the lowest online tuition rates in the nation. (cheering) - so when i face barriers, i can break through. - [announcer] breakthrough at snhu.edu. >>> good morning it is 8:00 a.m. at netflix headquarters in los gatos, california it's 11:00 a.m. on wall stre