users who are used to using paypal will use paypal a lot. emily: there are a lead-off start ups going after the payments mark, but apple, visa and samsung want in market. how situated is paypal in that market? >> very well. the numbers reflect a very successful bills. for whatever reason, that is working on the front end, and people starting to recognize pay pass as a brand and a way to pay people. emily: thanks so much. james also joining us there on the phone. on earnings, at&t second quarter earnings report is in. revenues fall short due to subscriber losses in pay tv. they missed analysts expectations, bolstered by better than expected phone sales. at&t shares fell as much as 1.8% in late trading after the earnings report. coming up, we continue our week-long focus on food tech. we will hear from a c.e.o. that is out to prove that meat doesn't have to come from an animal next. this is bloomberg. emily: we are continuing our week-long series now on the multi-billion dollar food tech industry. they are aiming to disrupt the global meat ind

at paypal in california and 11:00 a.m. here on wall street and "squawk alley" is live. ♪ ♪ i'm thinking when you going to ring it, when you going to ring it ♪ i've been thinking about my doorbell, oh, well ♪ >>> good friday morning and thanks for joining us on "squawk alley." jon fortt and i here at post nine. carl making his way back from that cleveland. top story today, the 2016 election. hillary clinton expected to announce her vice presidential pick as early as today. nbc news reporting that virginia senator tim kaine has emerged as t leading contender. last night at the republican convention, gop nominee donald trump set the tone for the upcoming campaign against clinton. here's what he said. >> i have visited the laid off factory workers and the communities crushed by our horrible and unfair trade deals. these are the forgotten men and women of our country, and they are forgotten, but they're not going to be forgotten long. these are people who work hard but no longer have a voice. i am your voice. >> he makes the sa

that means the technologicalica or yeptsed square and paypal. i'm a fan of paypal.hink with square you wait until they get a better plan. >>> i'll see you after the break with usaa is awesome. homeowners insurance life insurance automobile insurance i spent 20 years active duty they still refer to me as "gunnery sergeant" when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and i'm a usaa member for life. usaa. we know what it means to serve. get an insurance quote and see why 92% of our members plan to stay for life. >>> it is time! it's time for the lightning round! and then lightning round's over. stewart in new jersey. >> caller: how are you today? >> i'm good, how are you? >> caller: pretty good. i want to thank you for that match.com recommendation. >> that is a good company. very fast-growing, very solid. how can i help? >> caller: yeah, how about what's going on with stamps.com? >> oh, my whole group, we took a look at this thing, this is the biggest battle grou

but there's something in it for paypal, too. they will get a cut of all the volume they send visa's way. but they also get access to millions of points of sale for visa contact list payments at brick and mortar merchants. that's something paypal has wanted for a long time. visa customers also get the ability to move money through paypal accounts from their visa accounts instantaneously. for now it looks like two companies that couldn't agree much have come together to make a deal that will hopefully be mutually beneficial. for "nightly business report," i'm kayla tauschy in new york. >>> another dow component travelers saw quarterly profits fall to their lowest level since 2012. the property, casualty insurer said catastrophes like the alberta wildfire rose while investments fell. higher catastrophe claim costs are expected to hurt earnings across the industry. shares of the dow component fell fractionally in today's session. >>> and now to a former dow component, general motors. shares of the automaker accelerated after the aut

this gives paypal access to the in-store environment.d, it allows us now to partner with visa and their issuers. that's a big deal. we are great allies together. they can give us a lot more customers. we can drive a lot more mobile and online volumes to them, and finally it gives us cost certainty. there's a lot of rhetoric going back and forth about visa and paypal becoming more enemies than friends. this takes away that. we are not collaborators in driving digital payments going forward. >> what about apple and samsung? you talk about that retail point of sale. if i've got an iphone and applepay capable, what will make me choose paypail maybe over an android it's ease why aring to neutral, but you know, when it comes to retail, a lot of apple's customers are the ones who are buying a lot of stuffs. >> it's interesting. the key to payments is that you magically need a two-side i had network to be successful. it's not enough to just have consumers. if you have merchants but not a lot of consumers, then consumers gets frustrated. what we

we also have numbers from starbucks and paypal. revenue $2.65t billion, second quarter payment volume was $86.2 billion. a little bit better than what analyst had been looking for. the company raising revenue forecast as well. it will lift the stock i about 6.5%. i will move on the starbucks that reported results, earnings earlier $.49 a share for the third quarter. that matches the consensus estimate. this is where it gets interesting because comparable --es went up four point excuse me, 4%. is lighter than what analysts were looking for. starbucks is still looking to maintain employer targets. it is not up rating or downgrading any of those views. 4.5%the stock is falling on those sales. america specifically up 4%. u.s., aially in the relatively weaker sales. are hyping their release, their performance in china. it is highlighted by the strong growth and record revenues and profits in china. 8% year-over-year. pushing those asian results because they probably disappointed globally and in the u.s.. scarlet: coming out the says cen

visa and paypal announcing a new strategic partnership. p paypal is up 2% after the earnings.a announced a $5 billion repurchase agreement of stocks. that stock, though, down a third of a percent right now. kelly, i heard the piano and sounds like nordstrom's there in cleveland. what's going on? >> we had a couple of beautiful ballads. "let there be peace on earth." followed by for "for beautiful for spacious skies." if there's a third number, i think everyone is about to hear it. >> lucky us. >> everyone in cleveland waiting for donald trump to take the stage this evening. last night texas senator ted cruz and now official vice president nominee mike pence took to the stage to speak. it was a night filled with boos, chants and kisses from the donald. >> if you love our country and love your children as much as i know that you do, stand and speak and vote your conscience. vote for candidates up and down the ticket who you trust to defend your freedom and to be faithful to the constitution. >> you have nominated a man for president who never quits. who never backs down. a fight

paypal trading down this morning.k about why and facebook and twitter under pressure ahead of earnings next week. room to run? all that and more coming up on "squawk alley." ♪ bend me shape me, any wayou want me as long as you love me, it's alright shape the best sleep of your life. sleep number beds with sleepiq technology adjt an. the bed that moves you. on aa sleep number store. >>> good morning, it is 58:00 a.m. at paypal in california and 11:00 a.m. here on wall street and "squawk alley" is live. ♪ ♪ i'm thinking when you going to ring it, when you going to ring it ♪ i've been thinking about my doorbell, oh, well ♪ >>> good friday morning and thanks for joining us on "squawk alley." jon fortt and i here at post nine. carl making his way back from that cleveland. top story today, the 2016 election. hillary clinton expected to announce her vice presidential pick as early as today. nbc news reporting

also speaking, as ross mentioned, silicon valley billionaire and co founder of paypal, peter thiel. he is the first openly gay speak, at the republican national convention in 16 years. >> joining us now is political analyst brian sobel. what are you looking for from him? >> i'm looking for the kind of speech that takes him from being candidate to a presidential aspirapt. he has to lay -- aspirant. he has to lay out a plan that will bring along everyone, and maybe some democrats, what he's hoping for. >> in the last hour jerry fall well junior called trump the blue collar billionaire. he is going to promise the middle class that they will experience profound relief and taxes will be great simplified for everyone. can a billionaire like donald trump bea champion for the middle class? >> i think his case would be, frank, if anybody knows how to make business work for everybody, it would be donald trump. and if you're looking at something like cutting taxes and other things, and working on these middle-class issues, i think he can make the case, whether we believe it or not, that he can

shery: then in the options and said, our trade is paypal. the company will report earnings on thursday with the stock up about 9% this year. ♪ and wti crude has fallen below $40 a barrel after climbing above $50. we look at what is behind the pullback. this is bloomberg. ♪ vonnie: and the sun has come out there in midtown manhattan. bloomberg markets. i am vonnie quinn. shery: i am shery ahn -- time for the bloomberg business business flash. the justice department may try to prevent to takeover bids in the health insurance space according to a person familiar with the matter who says antitrust of issues are looking to file lawsuits to block anthem's takeover of rival health insurance -- insurer cigna. a final decision could come this weekend will be made by the end of this month. vonnie: european stocks fell from a three-week high lead by minors after rio tinto posted week iran or figures. -- iron ore figures. the worstle, is among performers in em currencies. bonds across europe also declined. shery: a brazilian judge has blocked nationwide

best asknown, i guess the godfather of the paypal mafia. he founded paypal in the late 1990's, they sold to ebay, he got very rich. of the key figures of silicon valley are tied very closely to peter thiel. the thing that is crazy about him, he is sort of on a different planet ideologically. your average tech person is a mix of libertarian and socially liberal. is a radical libertarian. which makes him a curious fit for donald trump and a curious fit insulin valley. -- in silicon valley. gay.id he was proud to be a lot of republicans came out with a statement shortly before saying the platform was the most it had never been and the fact that peter gets up there and says he is proud to be gay, that is super interesting. he also happens to be pro-marijuana. not the usual thing for a republican party convention speaker. have -- youting to start to see this crazy mismatch. himer media in 2007 out of -- outed him or published the fact that he was out to certain members of his inner circle and he went away quietly and years later, it was revealed

paypal and silicon valley investor as well.ing opportunities a donald trump presidency could provide. race is beinghis honest about it, except donald trump. [applause] while it is fitting to talk about who we are, today it is even more important to remember where we came from. me, that is cleveland and the bright future it promised. asked us totrump make america great again, he is not suggesting a return to the past. he is wanting to lead us back to that right future. urge all fellow americans to stand up and vote for donald trump. [applause] >> thank you. thank you very much. thank you. [applause] ok.aad: that is peter thiel there, the , endorsingf paypal donald trump. we will hear from him in the next hour. coming up next, is piaget feeling the pinch? we will hear exclusively from its ceo. ♪ ♪ rishaad: we are looking at regional equities pulling back from eight month highs as the thepect of stimulus cools, regional benchmark down for only the second time in two weeks with the yen jumping the most in four weeks. governor kurod

he founded paypal in the late 90's, they sold to ebay, he got very rich. carol: elon musk was part of that. >> a lot of key members of silicon valley are tied to peter thiel. the thing that's crazy about him is he's on another planet ideologically for most of those people. your average tech person is a mix of socially liberal and a little libertarian, like a lot of business leaders. thiel is a radical libertarian, which makes him a curious fit for donald trump but also a curious fit in silicon valley. carol: what are some of his views? >> may be the most interesting thing from the past week was that he said he's proud to be gay. and of course, in the republican party, the log cabin republicans came out with a statement shortly before, saying the platform was the most anti-gay there had ever been, and the fact that peter thiel gets up there and says i'm proud to be gay, that is interesting. he also happens to be pro-marijuana. he has invested in a bunch of marijuana companies. met the usual thing for a report he -- republican party conventions eager. carol:

let's talk about who peter thiel is. >> he is known mostly for cofounding paypal. also known for being the first investor and facebook. those are his business credentials. massivew a pretty venture capitalist in silicon valley. amy: tell us what happened. how did he take down gawker. sam: he spent a lot of his money to secretly fund lawsuits that would be ruinous for any organization. even frivolous lawsuits cost money to defend and when you are facing multiple suits, it is a pretty failsafe way to destroy an organization. about hisou talk speech, the history y he madade, comimi out as gay at a republican national convention, the significance of this? sam: sure. his background ideologically is all over the place. he stated that democracy and freedom are incompatible. he has said that women should never have had the right to vote in the united states. he believes in the construction of man-made islands where the u.s.overnment t has no sovereignty and now he is a trump delegate. it is really a natural progression in the series of fringe, silly, radical ideas. i think

. >> peter thiel co-founder of paypal speaking at the republican national convention. he's the first openly gay speaker at the convention in more than a decade. we will be right back with more news. thank you so much. did you say honey? hey, try some? mmm that is tasty. is it real? of course... are you? nope animated you know i'm always looking for real honey for honey nut cheerios well you've come to the right place. great, mind if i have another taste? not at all mmm you're all right bud? never better i don't know if he likes that. yeah part of the complete breakfast >>> back to decision 2016. we want to show you some video. there he is, donald trump, arriving at the quicken loans arena with his wife melania just a few moments ago. trump giving a thumbs up as he walks in. this moments after he was endorsed by paypal co-founder from the bay area peter thiel. in less than an hour donald trump will take the stage and deliver the most important speech of his campaign to date. donald trump is stirring more controversy. he says he might not defend u.s. allies if they're at

. >>> paypal strikes a deal with visa. users of the mobile asp will be able to instantly withdraw money they receive through the payment service they link it to their visa debit cards and in return visa will make paypal part of the digital wallet program allowing it to be accepted when visa partners with stores and banks for mobile payments at the checkout. . >>> and verizon says there's a limit to unlimited. starting next month customers who still have unlimited data plans and regularly go over 100 gigabytes a month will be forced to switch to limited plan or get kicked off of the network. if you're streaming every "game of thrones" episode on your phone you could get a notice saying you're flagged as an extraordinary data user. they stopped offering it in 2011 but there are still a few people who got grandfathered in to old plans. >> i was one of those for a while. took it away. >> thank you very much, landon. >>> avid wine drinkers could soon see a shade of blue in their glass. something other that white or red. a blue

paypal and visa have ended -- paypal has been urging customers from linking accounts to visa cards. more data with visa for it in return, visa will offer certainty on the feasible charge paypal. shares of paypal rose as much as 7% on the news. pokemon go has come home. the smartphone game that has become all the rage in the u.s., australia, britain, and europe, is now available in japan. that is where the pokemon franchise began two decades ago, adding $20 billion to nintendo's market value in two weeks. that is your bloomberg business flash. mike: let's bring it back to the markets. we saw bad news in the u.k. for the market pmi numbers. we also saw good news in germany . we will get to market numbers in the u.s. later this morning. that, aieting follows member of the economic fraternity trigger morning, steve. the u.s. has been doing better, not only than the rest of the world, but better than people think the u.s. is doing. you look at the surprise indexes, and they have been moving up. the one exception is in manufacturing. is that going to come back? we did not see a huge move

one of the areas we are not seeing it is sky works coming me,with earnings -- excuse paypal.aypal shares are down 7/10 of 1%, making an agreement with visa, ending a long standing dispute. sky works making comments, seemed to imply apple may be showing some weakening. revenue would be doing better than it is currently. hyman athat is julie our markets desk. courtney has more from our newsroom. courtney: presidential candidate hillary clinton will try to recapture the attention of voters after a week of the republican convention. she is expected to unveil her running mate. a person familiar with the plan said the announcement will be made by a text message to supporters. said totim kaine is have an era former president bill clinton. mention clinton in his acceptance speech. clinton legacy was death, destruction, terror, and weakness. donald: my opponent asks her supporters to recite a three word loyalty pledge. her." s, "i'm with i choose to recite a different pledge. my pledge reads, "i'm with you," the american people. courtney: trump's speech was one hour 17 minutes long. t

best as thewn godfather of the paypal mafia. founded paypal in the late 1990's.he key figures tosilicon valley are tied peter. the thing about him, he is sort of on another planet ideologically from those people. your average tech person is sort of a mix of socially liberal and libertarian like a lot of business leaders. libertarianadical makes him kind of the curious fit for donald trump but also just a curious fit in silicon valley. >> where some of his views? >> the most interesting thing from the past week, he said he is proud to be get a. , loge republican party cabin republicans controlled the statement shortly before saying the platform was the most anti-gay there had ever been and the fact that peter thiel gets up and says i'm proud to be getting, that is interesting -- proud to begin a, that is interesting. he is also pro-marijuana. not the usual thing for a republican party convention speaker. >> it is interesting to have someone -- >> you see this crazy mishmash of things he is known. himer media in 2007 out of or sort of published the fact that he was

he is a member of the paypal mafia, one of the founders.infected in -- he invested in spacex, bnb. vonnie: how will he be received by the crowd, the delegates? he is homosexual, the first gay to speak at the rnc. our sources tell us he will talk about being a gay american at the convention. it is a question on how he will be received. a lot of his interests and policies are not aligned with trump. he is a libertarian guy. he has libertarian views toward trade and immigration. a lot of those beliefs are sort of contrary to what trump has been talking about on the campaign trail. he is pro-immigration, pro-free trade. david: he is, like many denizens of silicon valley, interested in disruption. a number of people say you may be interested in supporting donald trump because of the disruptive nature of his campaign. ellen: he is into creative destruction. many people would say he believes in creative destruction when it comes to politics, too. he is a very competent chessplayer. some of his friends say this is almost the ultimate blowing up of

paypal will stop discouraging customers linking accounts to visa cards.return, be so will offer prices forn the customers. in most-watched news network the u.s., roger ailes will be resigning from the fox news channel after accusations of sexual harassment. rupert murdoch will be acting ceo of the new channels -- news channel. roger ailes created the fox news channel and made it an alternative to more liberal competitors. that is your bloomberg business flash. in other corporate news, we are keeping our eyes on shares of verizon, up by about 1.2%. the giant is said to be nearing a deal to buy yahoo! for nearly $5 billion. the latest from alex sherman who broke the story earlier this morning. congratulations. what is the price tag signifying? will verizon by everything yahoo! has? alex: we don't know about the real estate. verizon will not buy the intellectual property. over the course of the day in the weekend, but from where things are not, we hear the price tag is closer to $5 billion then or billion dollars. $4is in that -- than billion. it is in that

paypal for years had not recommended that its users use credit cards, rather linking directly to bank accounts. visa shares are higher on its earnings but there are concerns about the agreement effect on paypal earnings. david: yesterday we were talking about chipotle. vonnie: -- julie: and how terrible those chipotle numbers were. same-store sales down 23.6%. it's a huge drop. stock was lower earlier in the day. it looks like chiptopia is to thank for this. the ceo did make some encouraging comments on the call, saying sales trends were starting to improve and he gave some credit to this new loyalty program. asjust want to say chiptopia many times as possible. matt miller a proud member. those shares have turned around. vonnie: thank you so much. now let's get a check of the headlines on the bloomberg first word news. mark crumpton has more from our newsroom. mark: we begin with the latest details on that story developing out of germany. the public broadcaster said at least 6 people have been killed in a shooting at a mcdonald's restaurant at a mall in munich. police are hunting for

lauren: among speaker to highlight the closing night trump's daughter ivanka as well as paypal cofounder peter teal. check out key moments last night. >> as president my father will change labor laws that were put in place and he will focus on making quality child care affordable and accessible for all. [cheers and applause] >> i am proud to be gay, i am proud to be a republican, but most of all, i am proud to be an american. >> you can kiss your gun rights good bye if she ever finds her way into the white house. in foreign policy a clint oant presidency means forgetting our friends and enabling our enemies. >> donald trump is bold tenacious, courageous and even outspoken leader and he knows how to create jobs and successful businesses, he has bold ideas and he speaks truth to power. >> we have never such a genuine and loving family i truly believe donald trump is america blue-collar billionaire. >> i have seen him fight for his family, i have seen him fight for his employees, i have seen him fight for his company and now i'm seeing him fight for our country. >> now we are told that the

. >> ebay because of that buyback and bullish earnings hitting a new high today after ebay and paypalit. it will be interesting to see paypal in the wake of ebay's reports and the ceo of qualcomm on the show a little bit later on. >> in just a few minutes, growth in china and work that qualcomm has done getting those chinese licensees to pay a lot of people thought wasn't going to happen, thought this was all falling apart now. apparently not. >> we will have an interesting conversation with him. we have news out of the auto sector, general motors for its next update and we go to phil live with the details. >> a lot of the chatter about tesla's master plan this morning, how much did we anticipate, did they tease what's in the master plan and what's truly new in this master plan! when you look at what they discussed yesterday during the blog post, this is generally, talking about adding solar city, why it makes sense to be part of tesla and autonomous vehicles, the push and car share fleet, that had been speculated eventually we want a car share fleet program. they talked about that ye

. >>> coming up is paypal founder, peter thiel, what the openly gay person thinks about the speech. >> we could hear hillary clinton's vice-presidential pick as early as tomorrow. >> stay on top for the white house race on abc7 news. laura anthony will join us live from quicken loans arena and she and reggie will be there for the democrats convention next week. watch for the days events on abc7 news and starts at 7 on abc7 news at 6:00. >> rallies across the bay area as protesterses call for an end to the violence. >> this is over oakland. there's also one in san francisco as well. the oakland police department, you can see protesterses there chaining themselves to the front door. lyanne joins us live. >> reporter: protesterses arrived this morning. you can see behind me the bulk of the demonstrators is just arriving now. oakland is one of many cities having a day of action. i've been told police on motorcycles are staged not far from here in case anything happens. this is sxaeexpected to be a p e peaceful rally. protesters chained themselves to the door for black lives matter. yester

>> i hope he let you in early on the whole paypal thing. >> no kidding. i said to peter thiel, how about letting me in on the paypal or tipping me off about facebook? he was an early investor. no such luck. >> a lot of thanks you get. well, bill, we love you, and thanks for being here. >> thank you. that matters more. thank you. >> straight ahead, we'll have a kelly file exclusive from behind the scenes at the rnc as cameras follow donald trump jr. backstage at a critical moment. and mark mckinnon brings us a front-row seat to the drama. >>> plus donald trump's speech slammed by president obama and hillary clinton. they say the remarks don't reflect the real america. governor mike huckabee says, not so much. robert zimmerman, guess how he feels. they're coming up. >> he offered a lot of fear and anger and resentment, but no solutions about anything that he even >>> serious fallout tonight after donald trump's historic acceptance speech last night in cleveland, and some leading democrats ripped what they call mr. trump's darkly negative message as one mean

mary fallin, the influential evangelical leader and president jerry falwell junior who cofounded paypal and rnc chairman working feverishly for a delicate revolt against donald trump and it looked like it worked because of course trump is set to accept the nomination to close at their convention in cleveland tonight. back to you in new york. lauren: peter, thank you very much. nicole: thanks, peter. enjoy your last day there. investors sharing sales was lower than expected growth. there is a look at the bed of the close yesterday at 3569. 3453. 3472. intel falling 3% overall second-quarter revenue rose to $13.5 billion. that didn't miss the forecast. intel's profit beat expert patient. they broaden in response to demand for personal computers. >> crocheters rallying about 6% right now in the premarket after the online retailer reported second-quarter revenue and raised its sales forecast for the year. ebay announced additional $2.5 billion stock buyback. nicole: tesla ceo elon musk and an expansion plan on that website. wants to broaden tesla to ask her suvs. as well as car sharing and

with the stock down, investors -- as for the second biggest point boost nabby behind microsoft, paypals are stronger. glenn green says, head of the second quarter of or next thursday, he thinks they could be on transaction revenue. he sees bullish transfer the near and medium-term. be the tech stock to rise through the end of the year. but again, we do have the nasdaq turning negative, flipping between small gains and losses. the biggest driver now a starbucks at 1.7% on a downgraded opr capital. frappuccino and food sales are probably likely to be weaker than extent -- than expected for the second quarter when they report next thursday along with paypal. it will be a big reporting day here at the nasdaq. vonnie: courtney has more from our new york newsroom. courtney: in a few minutes, david cameron will end his six-year run as later. he answered questions for the final time as prime minster. prime minister cameron: this morning, i had meetings with others. the diary for the rest of my day is remarkably like. [laughter] carney: cameron will submit his resignation. the queen will then a

well, paypal cofounder and venture capitalist peter thiel became the first speaker ever to declare he is gay in a speech at the republican national convention on thursday. >> every american has a unique identity. i am proud to be gay. i am proud to be a republican. but most of all, i am proud to be an american. emily: later in the night, republican presidential nominee donald trump pledged to protect gay citizens after a nightclub shooting in orlando. the human rights campaign, which endorses democratic presidential candidate hillary clinton, said it was disappointed with both speeches. the group says thiel should have used the speech to push for equality and trump was using the orlando shooting for political gain. coming up, pandora's revenues fall short as listeners tune out. our interview with pandora donor founder and ceo tim westergren next. we are watching paypal dropping on concern about the cost implications of its new agreement with visa. shares closed down 6% from thursday. this is bloomberg. ♪ emily: now to our interview with pandora founder and ceo tim westergren. shares p

my fear, though, is if i wire money to wiki leaks or use paypal, i will end up on a governrnment was somewhere. or even worse, if at some point wiki leaks is formally decreed to be a terrorist organization i could be subjected to liabilili, criminal liability for materirially supporting a terrorist group. these are not people prone to weird conspiracies that you hear from occasionally. these are very sober, rational amamericans. the reason i found that strtrikg is because these were american citizens who were petrified of exercising their core first amendment constitutional right, which is what donating money to an organization or political causes. they were petrified they would be punished if they e exercisedd those rights. what made it more remarkable is wiki leaks was an organization, is still an organization thatt has never r been charged with little loan convicteted of any crime. yet here we are with all kinds of people voluntarily relinquishing their own rights at all fear the government would abuse its power and punish them for exercising the right the constitution guaranteed.

we are watching paypal dropping. on concern about the cost applications of its new agreement with visa. shares closed down 6% from thursday. this is bloomberg. ♪ interview withur pandora founder and ceo tim westergren catch shares plunged after pandora reported revenue that fell short of estimates. by the end of the day, up over 2%. it lost more than one million previous listeners but listener hours increased 7%. we got started by asking westergren how he make sense of these numbers. een westergren: we've b signally we expected to be flat for a while. really we are surrounded by the blut of -- glut of free on-demand services we cannot compete with yet. we are on our way to do that. but i think the growing engagement of the really positive signal for us. our core listener base listens more and more. hour amonga 24 threshold. that is a reflection of product improvements, our team has grown, more distribution. we feel really good about the core product and cannot wait to offer the more complete marketplace to compete. 4

>> i hope he let you in early on the whole paypal thing. >> no kidding. i said to peter thiel, how about letting me in on the paypal or tipping me off about facebook? he was an early investor. no such luck. >> a lot of thanks you get. well, bill, we love you, and thanks for being here. >> thank you. that matters more. thank you. >> straight ahead, we'll have a kelly file exclusive from behind the scenes at the rnc as cameras follow donald trump jr. backstage at a critical moment. and mark mckinnon brings us a front-row seat to the drama. >>> plus donald trump's speech slammed by president obama and hillary clinton. they say the remarks don't reflect the real america. governor mike huckabee says, not so much. robert zimmerman, guess how he feels. they're coming up. >> he offered a lot of fear and anger and resentment, but no solutions about anything that he even it takes a lot of work... to run this business. but i really love it. i'm on the move all day long... and sometimes, i just don't eat the way i should. so i drink boost® to get the nutrition that i

good news for ebay, after its spinoff of paypal last year.aypal has been a big road striper in ebay but it made some changes to its marketplace business and saw growth there, also in stubhub, ticket reselling business saw a big gain in revenue that helped out ebay, as well. let's go to the big board and see how we're doing. the dow is down about 20 points. nasdaq is up by 10. s&p moving higher by one point in the early going. kenny and michelle, back to you. >> thank you. >>> time now for a look at what's coming up later on "cbs this morning." charlie rose joins us now from new york. good morning. >> reporter: good morning, michelle. we're here on the convention floor where delegates booed ted cruz for not endorsing donald trump. but not on the floor where [ indiscernible ] but we'll talk with bob schieffer about the fallout plus eric trump and newt gingrich join us at the table the morning after their speeches. and ivanka trump is also here preparing to introduce her dad tonight. we look at how she and her husband are the power couple behind

shery: paypal? scarlet: ebay.re talking about the concert box office because ebay owns stub hub. that is one of the reasons ebay saw growth last quarter. it also sort of tried to migrate to being a marketplace for hard-to-find items. here is the one year since the split with paypal. let's take a look at what it is doing today. it seeing its biggest one-day increase in nine months and hit a record high. it not only beat in terms of the second order analyst but raised its revenue profit forecast with second-quarter revenue up percent. this seems to be reassuring to investors who were unsure about its growth trajectory after paypal. if you look at how the companies business divvies up, it's a mostly fixed price business. it is mostly new things being sold on ebay versus re-sold things that were the original source of his mess. taking a look at some of the other earnings winners today united rental shares are surging after the company's earnings beat estimates. improving rental rates. the maker of industrial products

ross, can we talk for a moment about peter thiel, the cofounder of paypal, a billionaire from here in the valley? what is the significance of him speaking? >> reporter: he's the first openly gay man to address the rnc since 2000. he was reluctant to come out of the closet but now that he is he's going to be taking the stage and speaking about gay issues. just recently, they changed the platform here to strengthen their stance is against gay marriage. peter thiel is going to tell them that we need to move away from arguing over these social issues, but this party really needs to focus more on things like the economy and terrorism, things that matter to everyone, and focus less on divisive things like social issues. that should be very interesting once he expresses his thoughts. he's been a friend of donald trump for quite some time. he is the billionaire from silicon valley, a venture capitalist. he's had an ongoing relationship with donald trump. so he sort of straddles the fence between the two words, between the liberal bay area people and the hi-fi nance wealthy community that dona

. >> happening now paypal cofounder and one of silicon valley's elite is one of the first openly gay speakers featured at an republican convention. >>> disney land is celebrating the 61st birthday. check out the festivities on facebook. we'll be back in two minutes. newetas n.. = xvi=onhe adlattptc >>> new details right now on the deadly attempted coup in turkey last week. 6,000 people, right now, are behind bars accused of being cospear or its. this weekend the elected president there, president erdogan had a funeral for his campaign manager among the 200 people who died. during that funeral, mourners demanded the death penalty for those responsible for the coup. the president said he's considering reinstating capital punishment, which was abolished in that country in 2014. >> history for the united methodist church after the promotion of a pastor in san francisco's live memorial. reverend karen oliveto is the first openly gay bishop. live cofounder the reverend cecil williams is calling it a major victory for humanity. the president of the united methodist council said it's raising

thiel made money as cofounder of payp paypal.will speak thursday night. >>> now, as for the markets this morning, yep, that's a bear and a bunny. this is a korean company called line. it's biggest tech ipo of the year. more than a billion dollars. the markets are higher this morning, line has not started trading yet. that's not abnormal. this follows the biggest tech ipo since last month's trilio. it was worth about $150 million. line raising a billion. >>> update to pokemon go, the san francisco based company that makes it says it's fixed the problem that allowed the game full access to your google account. g mail, pictures, even where you've been on google maps. the company continues to insist it never actually looked at the data and settings were a mistake. you remember that last sunday ceo elon musk said he would be revealing a top secret master plan for tesla and he would do it later this week. well, guess what, it's later this week. >> you want the plan. >> that's right. text me, you can tell me the top secret plan there, e

but basically, you will get cash for riding bart at off times through paypal.our other option if you decide to compute at off times is to spin a wheel for prizes like a game show. it's going to be tracked through your clipper card. this is a pilot program and you're probably wondering where the money is coming from. a lot of it is going to come from a federal grant some of it from san francisco's prop k sales tax. the rest about $400,000 in bart's operating fund. live in orinda, anne makevoc, kpix 5. >>> i'm dennis o'donnell.coming up, the giants could probably use a bucket of ice cold water dumped on their heads right about now. there is no margin of error for a team that's struggling to find runs. we'll show you that next. ,, ,, ♪ is the world truly ready for a vehicle that can drive itself? an autonomous-thinking automobile that protects those inside and outside. ready or not, the future is here. the all-new e-class. self-braking, self-correcting, self-parking. a mercedes-benz concept car that's already a reality. mercedes-benz. the best or nothing. walking

>> he is the cofounder of paypal and a board member at facebook. he said he does not agree with everything in the republican platform but that, fake culture wars such as disagreements over which bathroom to use, are a distraction from real problems such as the economy. >>> turning to the democrats, hillary clinton is expected to announce her vice presidential running mate either today or tomorrow. sources say virginia senator, tim kaine, is at the top of the list. those sources say a long time friend of the clinton, tom dosek, is also being considered. >>> the democratic national convention kicks off on monday in philadelphia. there will be speeches from first lady michelle obama and bernie sanders. tuesday speakers include bill clinton and a group of black women who lost children clashes with police are gun violence. president obama and vice president joe biden are the keynote speakers on wednesday. hillary clinton takes the stage on thursday. >>> we are following breaking news abroad. there is a massive search for an indian military transport pla

. >>> the founder of paypal will be the first openly gay speaker in six years t.ast was met with protests back in 2000 and a new zealand man quit his job to go play pokemon go full time. he's planning a cross-country trip to catch some pokemon. >>> tonight, a spokesman for the clue clux clan says the organization has seen a surge of e are cent police situations. that comes as the "san francisco chronicle" reports they have confirmation of racist flyers posted in san francisco are official clan material. the movement is bent on the kill lg white people. flyers began showing up earlier this week. >>> a 49ers will miss the first month of the season. aaron link will be forced to sit the first four games of the year for violate iing the league's substance abuse policy. the general manager says the team is disappointed, but respects the stigs. the 23-year-old tied for the team lead in sacks last year. >>> an investigation is underway for the cause of a two alarm fire that left a firefighter injured. this home was under construction so no one was inside. crews found the

the paypal co-founder brought the crowd to his feet when heç became the first speaker in party historyo say this. >> am proud to be gay. i am proud to be a republican, but most of all, i am proud to be an american! >> thiel drew a parallel between himself and trump saying both men are builders and trump is the best candidate to rebuild america. ♪ >> you just want that the to keep going, right? despite all the drama at the rnc, this 5-year-old from galloway township ultimately stole the show. you might remember 5-year-old joy jerkins. wait until you hear the rest of her performance ahead. >>> the family of a 49-year-old woman found beaten to death in her bedroom is urging the person who killed her to turn themselves in. the mother and grandmother was found dead in her bedroom yesterday in hunting park. her family gathered on north percy street. she was always volunteering at her church, the family tells us. >> if you were in need and it was something that you needed, she would do it. >> to grip some of the things mentally in your head that just happened to my mother-in-law, one can't sl

. >>> the founder of paypal is making history. peter teal is a trump supporter, and he's also openly gay. the first gay speaker at the rnc in more than a decade. jean elle is live in san francisco where people tuned in to hear his speech. jean, was it well received? >> reporter: well, members of the lbgtq community here in san francisco say they are skeptical. they say the republican party's actions speak a lot louder than words spoken tonight. >> as your president, i will do everything in my power to protect our lbgtq citizens from the violence and oppression of a hateful foreign ideology. >> reporter: donald trump vows to protect the lbgt community during his acceptance speech. minutes before, billionaire peter teal took the podium. >> of course, every american has a unique identity. i am proud to be gay. i am proud to be a republican. [ applause ] but most of all, i am proud to be an american. [ cheers and applause ] . >> reporter: he's the first gay republican to speak at the convention in more than a decade. >> now we are tol

he was introduced by his daughter, ivanka. >> please welcome the cofounder of paypal and first investor in facebook, entrepreneur peter t hiel. >> good evening. i build company spirit i support people building things. i'm not a politician. but neither is donald trump. he is a builder and it is time to rebuild america. [cheering] where i work in silicon valley, it is hard to see where america has gone wrong. my industry has made a lot of progress in computers, software and of course it has made a lot of money. but silicon valley is a small place. drive out to sacramento or even across the bridge to oakland and you will not see the same prosperity. that is just how small it is. across the country, wages are flat. americans get paid less today than 10 years ago. but health care and college tuition costs more every year. meanwhile, wall street bankers inflate bubbles in everything from government bonds hillary clinton speaking fees. [cheering] our economy is broken. if you are watching me right now, you understand this at her than any politician in washington dc. and you know this is not th

what do you think about setting up a student paypal account?> there are a lot of benefits, but i would suggest talk to your parents about that first. >> thanks so much. your advice certainly makes sense [cents] and, hopefully, lots of dollars, too. >> thank you. >> no question -- starting your own business takes lots of work. but it can be lots of fun and great for your college application. in fact, it might even help you pay for college. for "teen kids news," i'm eden. >> i'll tell you why some kids may be dancing their way into trouble. >> dance is a beautiful form of art, but make no mistake -- it takes as much training and physical effort as any sport. and as daniella reports, on the rise. >> i have a crack in my big toe from breaking that and never letting it heal. >> lindsey competes in irish dance. she's been to eight world championships. but she's also been to the doctor a lot. >> i have hip problems. my most recent injury was my upper quad. i had a sprain there. >> any aches or pains, anything new that showed up? >> her athletic traine

. >> so paypal, this is one i've talked about before. think they're really very well positioned for e-payments. the stock was down 7% on some news or basically not enough news about their visa deal. >> guy, wrap us up. >> great having you this week. >> i really enjoyed it. really enjoyed it. >> you'll have to find your way back to the desk possibly. >> listen to me, l 3 communications, put that thing on top of the white house. listen, valuation is a little bit rich, but i like this name. >> okay, guys, thank you very much. that does it for this team. you can catch more "fast money" monday at 5:00 eastern. options action, of course, right after this break. ♪ nature?ncer] ist a f or a sales eve? e summ of audi sales event is here. get up ta $500 bonusn le audi models >>> hello there, yes, i'm simon hobbs. you can see the guys are getting ready for the big show. while they're doing that, here is a look at what's coming up. >> yeah, that's what the charts say biotech is about to do. and we'll tell you the one stock traders think could lead t