paypal is pervasive. add to that 30 million merchant accounts and the two-sided network, it gets to be very powerful. romaine: i have to say, i didn't know that stat. given the apple dominance as a company in terms of the iphone user base, you would think it would have more. i'm curious, what makes paypal better. why would i use that over apple if i had iphone? julie: a lot of what has made paypal better is new services they have added. so, you are not just paying a friend or online. you can use the app for so many different things. mostly banking services. debit card, bill pay, crypto investing is a hot topic and he soon you can do investing as well. caroline: take us there. it was the previous record from paypal because of the initiative they had. i folded that into the fact that their old ceo is now at facebook and they had a big grand plan for the dm, their focus on the cryptocurrency narrative, with the pushback that we are getting from janet yellen on all of this. talk to us about this. julie: they

i think if i read correctly paypal was going to charge 3%.feration of payment processors why these fees aren't going the opposite way. why are businesses paying anything more than a couple tenths of a percent? >> yeah, that fee -- that's like the headline enough that only applies to 10% o merchants, which are very small. the main thing they are paying for is a payment guarantee the key thing paypal does is that if they authorize a payment through the paypal check-out button they guarantee payment to that merchant. and so if there's a charge back later or some fraud issue or something like that, the merchant is not liable for that. that is an essential service for small businesses who are very subject to concerns because online fraud in payments is about five times higher than it is in store. it also drives higher check-out conversion because many consumers are wary of entering their credit card or debit card credentials directly into a small merchant's website paypal has demonstrated that between the merchant guarantee and the conversion rate

meanwhile for paypal topping 400 million in the quarter. that was up 16% year-over-year, and finally, venmo, that made up about 58 billion of that payment volume with 58% growth year-over-year >> kate, i am shocked no mention of crypto from you >> i know, i've been waiting for it i turned the call off so i could hop on "fast money." we haven't heard anything about crypto yet there was nothing in the release, but that is definitely what i'm listening for on the call >> all right, kate, keep us posted thank you. >> kate rooney in san francisco on paypal. pete najarian, what did you think of this quarter? >> i think it was a pretty solid quarter. there were a couple of areas where they seemed a little weaker one of the problems i've had with paypal, this was a name i was in for quite a while, and then i got out because it seemed to me like it was really getting stretched. you know, when we look at a lot of these various tok stocks, we talk about are they stretched. what is the pe level now and what is the growth rate? the growth rate has slowe

the time to buy paypal, tomorrow midday greg in texas. >> thank you mr. cramer. >> no problem. >> i was hoping you could school me on my favorite stock, the top and the bottom and dropped 50 points yesterday bought a boatload two hours later, all the way back up and made a killing generac had some of the highest expectations and i was part of that problem i beat it into everybody's head and they beat it big number you know, you have to do better than what i wanted you have to do super better than what i wanted. we are in the height of earning season and that means you need to keep a close eye on target boosts much more "mad money the don't miss my exclusive with the ceo and agco is proving farming can flourish in this environment. rapid fire, tonight's edition of the lightning round. stay with cramer >> cramer's playbook is brought to you by -- if your money is working toward the same goals, why keep it in different places? sofi is a one-stop shop for your finances designed to work better together. spend with sofi and get cash back rewards that automatica

now, even though paypal and other payment processing platforms became aware of the issue and began to ban extremists from such platforms which is a great first step, these groups have persevered and maintained a strong online presence. so be on social media platforms, newtek like cryptocurrencies which are decentralize largely anonymous forms off digital mony have enabled terrorist to further expand and disguise the funding efforts. think about for many of us who are sort of in the 9/11 era, we all became familiar with after 9/11 except now the currency is virtual instead of being filtered through couriers. as these technologies become more and more widely used we've seen a number of incidents in the past year that highlight the need for s the federal governmet to understand these technologies, the degree to which they pose a threat, and their impact on terrorist financing. there's a number of examples from recent days or recent weeks. i'm sure you will all be talking about then that just as the fairies groups have changed after crackdowns from paypal come when law-enforcement begins

you own paypal, the qs roblox you own megacap, megagrowth. where is this space right now? have some of the kathy wood stocks come down enough that you feel comfortable adding to it at these levels >> so i -- we as a firm and myself personally initially invested in arkk in march of 2020 so call it luck, timing. it was in the 30s, right so we wanted to make an allocation there and so the reason why, and so fast forward today arkk is around 127 we reduced that in december of last year because the flows were just crazy we were talking about it every day. you definitely have seen a lot of the froth come out. but the reason why you own arkk is like the best ideas of, you know, the kathy wood ark ecosystem because i want to own shopify. i've wanted to own tesla i think crisper, are amazing companies. but the entry points are always so high. and they always seem like expensive stocks well, when you buy those arkk, you get shopify, spotify, crisper and vatea. all of those great names everyone talks about tess la, but you really get to own these truly strong secular growth companies

they're citing a negative effect from e bay no longer using paypal paypal did up the full year guidance8 billion total accounts for paypal to thing $400 million in the quarter. that's up 16%. the quick note on venmo the app had 58% growth year over year. the stock is down big here after hours. down 8% now. guys, back to you. >> yeah. a lot of surprises there kate, thank you. >>> up next on the show, the ceo of jetblue on how the cdc's new mask guidelines and rising covid cases across the country could impact his airline industry. >>> speaking of, transportation secretary pete buttigieg on the new bipartisan infrastructure deal ithn e senate we'll be right back on "closing bell." rush hour will never feel the same. experience, thrilling performance from our entire line of vehicles at the lexus golden opportunity sales event. lease the 2021 is 300 for $379 a month for 36 months. experience amazing. ♪all by yourself.♪ you look a little lost. i can't find my hotel. oh. oh! ♪♪ this is not normal. no. ♪♪ so? ♪♪ right? go with us and find millions of flexible options, all in our app. expedia.

. >>> bringing the vaccine to soccer fans at paypal park. the goal was to reach one of the hardest hit communities in the county. >> reporter: a sold out crowd at paypal park in san jose on wednesday night. 18,000 people attending the first international event since the state reopened. the match between club america and atlas fc more significant as the santa clara public health department was able toreach the hardest hit community. >> we have been struggling to get people vaccinated. we still have 40% of the population in the latino population that have not been vaccinated. ds of people here. >> reporter: according to the demographics dashboard they make up 50% of cases. but at paypal park convenience and the vaccine. >> i was just walking through, they told me if you get vaccinated we are going to give you tickets. i am like why not, i have been trying to get ccinfor aw was e, right time. >> an example of getting into a sport that e latin x. community, getting the people here and offering them the vaccine right next to the stadium. that is

paypal is one of the biggest online payment providers in the world.ne and increasingly most of us do most of our business online, going to use paypal but maybe not anymore appear paypal has announced a partnership with the anti-defamation league which is an arm of the democratic party to come through financial transactions and find what they are calling extremists. what is an extremist? to be totally clear it is an independent group but an arm of the democratic party who acts on behalf of the bi administration, this show is extremist and so are a lot of people who are not only mainstream but moderate but oppose the agenda of the democratic party. so there is that. at the same time, facebook, twitter, microsoft, youtube and a lot of big tech companies are working on a shared database of extremists. white supremacists and far right militias. nobody is for white supremacists and far right militias pier the question is, what is a white supremacist and a far right militia? they get to decide and that means they are shutting everyone down who criticizes the

paypal says intelligence gathered will be shared across the financial industry and with policy makers overtime pay is causing problems and goat herding. >> california passed an agriculture overtime law requiring goat and sheep herders be paid for 160 hour work weeks because they're on call 24 hours a day. the law only applies to companies with 26 or more employees. companies with 25 or fewer employees will also have to pay their goat herders more. goats and sheeps are often hired to graze weeds, reduce fire danger. the owners say it's less profitable with the overtime requirements and some are forced to sell off their business. >> a turf war at it's a new day. and it's coming afast. it could be the day your workforce do with comcast business you'll be ready... with the flexibility to control multiple wifi networks from anywhere. all on the network that can deliver gig speeds to the most businesses. every day in business is a big day. we'll keep you ready for what's next. get started with powerful internet and voice solution who could have known that the right food could help your new

how it will rival paypal and affirm. plus, arianna huffington continues to thrive. her wellness company gets a $750 million valuation after raising fresh funding. what is next for the company looking to minimize burnout? could nft's for the washington wizards be a slamdunk? owner ted leonsis think so. we will talk about whether he thinks crypto will be a big part of the future of professional sports. first, we will look at the market with our own kriti gupta. kriti: risk off day and it all has to do with a cpi report nearly double the amount. 0.5%, that is what economists were surveyed to really expect. once again, the inflation fears really strong, but it did not show up in tech sectors, cyclical sectors. we saw it dive right into treasuries as well. treasuries getting a little bit of a bid. yields coming down. the one notable exemption, those are going to be the new york faang index. it is flat on the section -- on the session. a lot of it has to do with the tech names, apple, microsoft, facebook, all in the green. the nasdaq golden dragon index, that is the index

some of those new state laws were set to take effect on july 1st the paypal. policy change now levels the playing field, allowing all college athletes to benefit financially from their name, image and likeness. instagram your youtube you think about kaitlyn ohashi, the great gymnast. she had over million viewers. anybody else with a million viewers made a lot of money off their youtube video, not caitlin. why because of the rules the new ncaa rules allow student athletes to use professional services as well, such as agents, tax advisors, marketing. consultants attorneys and brand managers. athletes that are on social media and could become really popular and then different

. >>> bringing the vaccine to soccer fans at paypal park. the goal was to reach one of the hardest hit communities in the county. >> reporter: a sold out crowd at paypal park in san jose on wednesday night. 18,000 people attending the first international event since the state reopened. the match between club america and atlas fc more significant as the santa clara public health department was able to reach the hardest hit community. >> we have been struggling to get people vaccinated. we still have 40% of the population in the latino population that have not been vaccinated. today we are seeing hundreds of people here. >> reporter: according to the demographics dashboard they make up 50% of cases. but at paypal park convenience and the vaccine. >> i was just walking through, they told me if you get vaccinated we are going to give you tickets. i am like why not, i have been trying to get vaccinated for awhile i was just busy working and i am at the right place, right time. >> an example of getting into a sport that is very poplar in the latin

, square, paypal is the leader in the digital wal et and venmo, paypal is the leader. look, that is the same as last year but the expansion versus peers is widening. i think what you're hearing from paypal, they have an aspiration of expanding that lead into other products and services, to leverage what they've created with consumers >> so, betsy, we're looking at a chart showing venmo is the most popular peer-to-peer app venmo and cash app are similar zell is different and is privately owned by a number of big banks. what does the popularity of zell say about big banks and the future of fintech? >> great question, frank to me, i think banks need to invest more in the architecture of zell, make it easy to use, simple and quick, lots of pictures people can read but they like pictures better. let's give them pictures i think that interoperability with other apps that you have is so critical and, frankly, one thing finteches have done better than the banks >> one other thing i noticed was crypto about two-thirds of your interns said they either hold crypto or have an inte

pay paul -- paypal and qualcomm on wednesday. plenty more still ahead.me minister of spain is with us. you don't want to miss it. this is bloomberg. emily: let's look at other headlines. china may ask companies that offer tutoring to go nonprofit. that could decimate the country's industry. the firms would no longer be allowed to raise capital or go public and those that have already listed may no longer be able to invest in or education firms. an ipo is india's biggest since march 2020. it is the first of a generation to tap the country's capital markets and has generated a frenzy among the local investment community. gm is recalling chevy volt vehicles for the second time in less than a year. after two vehicles that were repaired in a previous recall caught fire. the recall affects 69,000 cars that have batteries made by a south korean company. coming up next, my interview with the prime minister of spain. we will talk about his efforts to attract startups in tech to his country and about his meeting today with apple ceo tim cook. this is bloomberg. ♪

, start putting deposits with paypal instead of a physical bank making all payments paying bills likeonline users than almost any other platform. i love stock it's expensive but too bad it's always been expensive it probably always will be and i'm staying long. >> ask halftime is next. send in questions by video we'll play them on the air email us askhalftime@cnbc.com. (laughs) amazing! see it. want it. ten-x it. i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support. what happens when you make power your thing... above everything? you decide fast... is never fast enough. you put muscle over matter. and you make horsepower... a superpower. ♪ welcome to the brotherhood of muscle. (vo) conventional thinking doesn't disrupt the status quo. which is why t-mobile for business uses unconventional thinking to help your business realize new possibilities. only one 5g partner offers unmatched network, support, and value-without any tra

sunday, paypal park won't be for earthquake soccer. that stadium is going to host absolute best lacrosse players on earth. year three of the premier lacrosse league and its midseason classic all-star game. name a fast-growing team sport i america. you can't. 4:00 your time on national tv the best of the best of the eight team league. you know what? the idea of this league came closer than you think. the boss told me. >> actually conceived the idea in a small apartment in san francisco on pacific avenue in pacific heights. to now see it here, to have the privilege of being a paypal arena. we are just excited. >> 40 seconds of the boss mike grable isn't enough, there's a 15 1/2 minute sitdown interview that i did with him. it is oma instagram page. lacrosse is here to stay as a whole bunch of folks in the west coast out of high school signing division i deals >>> finally tonight, crime everywhere. masked bandits caught on camera thanks to jim. jim is a friend. if you are in san jose's willow glen area sentences video of six portly raccoo

>> i'm watching square i think that people painted the same brush as paypal and the square so you gottle bit more of an attractive entry price. we're seeing big applied vol estimate of premiums people are protecting this name. if we can learn more about how they are checking their ecosystems ory trading range is about 235 to 275 between now and thursday if you get it at the low range, it will be pretty asymmetric we will learn a lot strategically. i think this is a great name to own and hold >> brian kelly >> for me, i'd look at uber. what we've seen particularly in the transportation space is we've had this reopening, but have to do more than that they are doing delivery we are seeing on the private company level a lot of action in the grocery delivery area. a lot of companies getting bought out a lot of venture capital in there. i want to see how uber is going against that competition and how well they are doing against that competition. so i think that will be really interesting to see if they can expand their product lines >> steve >> via com they had a forced liquidation a couple

quarterly results from jpmorgan chase and followed by goldman sachs in the 7:00 hour later, ceos of paypal. a conversation you don't want to miss as we look to the s&p winners and losers and then we have dr. fauci in the 7:00 hour ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. i think you're going to like it here. umm, why is everyone... throwing things at me? look, as cfo it's my job to be ready for whatever's next. that's why i have my finance team, randomly hurl things at me. it's also why we use workday. it gives us insights, so we quickly pivot our strategy, people, planning, you name it. sorry, sir. i will aim straight at your next step. see that you do. would you like some coffee? workday. the finance, hr, and planning system for a changing world. ♪ >>> good morning check check out the futures right now. the dow looks like it would open down 35 points s&p 500 up marginally. nasdaq looking to open 50 p

paypal specifically sees as a responsible company a need to try to put an end to this.o stop it once and for all. andrew, it won't end there the goal is to share what we learn. we need a whole of society strategy if we're really going to put an end to extremism and hate. >> jonathan, you may know that i've long thought about using the financial systems to confront issues we're dealing with in society. any time anyone has raised the idea of using the financial system for the purposes you're describing, there's been huge financial blowback i'll give you an example there were a number of banks after the parkland shooting that decided they were going to effectively stop making loans and that became a huge political issue with several republicans saying they would make it very difficult for those companies, effectively in terms of how they were going to be regulated and the like so i'm curious about how you think about that they won't because there are people on the other side of the argument. >> that's a fair question. i admired your leadership and columns on the issue i th

you have companies like intuit and paypal has gotten into this area and tech-focused names and companiessiness in this case is the focus, so whoever would offer a small business checking or savings account to somebody looking to launch their own business but one of the things christina had mentioned is that a lot of people just don't have a business account they might use their personal checking or savings account which can result in a mess for taxes and things like payroll. so she was sort of saying this could be more of just green space in general for folks who don't have a bank account for their small business. >> thank you, kate rooney. >>> it's been almost six years since square debuted at $9 a share. the company has ballooned 1800%, now at a $110 billion market cap which is a third of its main competitor but paypal is up to $350 billion now that square is getting bank licenses and entering broader financial services, can they continue growing at breakneck paces. joining us is the managing director at mizuho you're likening investing in square today to investing in jpm way back when

we're now about halfway through facebook qualcomm, paypal, comcast, ford all in focus today. of course the robinhood ipo and futures have held onto gains even as q2 gdp is a miss facebook and ford and qualcomm and our parent comcast reporting results, renewed corporate covid restrictions also in focus >> plus, we're going to talk about fraud charges, u.s. prosecutors charging nikola founder trevor milton. >> you had a great interchange with him initially >> carl. >> and robinhood set to make its public debut valued at 32 billion after pricing toward the bottom of the range, and that's where we're going to begin, jim. a lot of discussion about going to the bottom because they want this to work perhaps >> exactly but what i want to be sure of is that goldman understands that vlad is trying to do the right thing by people, and i point that out because there are a lot of disparate groups that are in the stock that he's giving to people, and i don't think goldman's all that sensitive one bit to what vlad wants to do i think they're treating it as a traditional ipo. i think vlad is

. >> i think other competitors have a much bigger balance one i look at is paypal. own some personally. that is a blue chip financial with cash ready to deploy. it is offering and paypal can do it sitting in the public domain i thinks that one to watch as it looks to move into new ways. >> we had a new discussion of whether or not the legacy trading platforms are too stogy to steal or make those platforms cool again with a younger clientele. do they have no hope or could they make improvements to steel those? >> i don't think all hope is dead i think these legacy or more mature growth need to think extremely hard about partnering with next generation to those brands of the engagement whether schwab and e trade and financial and getting the younger talent for great user experience. >> we had early robinhood investors. a bear case today. thank you. have a good weekend. >> i love fintech, by the way. the last trading day of july another tough one for chinese tech that story is up next. stay with us age before beauty? why not both? visibly diminish wrinkled skin in... c

we like paypal. we like broadcom for broadly diversedfied technology company.to own banks for good inflation protection. charles: okay. joanne, fantastic talking to you about all these things. really appreciate it. we'll talk to you real soon. >> thank you, charles. >> hey, folks, i got a question for you. what do you think is the most important pressing issue in this country today? there is a poll that is really saying government by far more than anything. i've got larry kudlow on that next. also instead of showing up for work the for their constituents, texas democrats grabbed a whole bunch of beer and hopped on private plane all in attempt to usurp states rights. deneen borelli is here around she is a little fired up. we'll be right back. ♪ ♪ ♪ when technology is easier to use... ♪ barriers don't stand a chance. ♪ that's why we'll stop at nothing to deliver our technology as-a-service. ♪ the rule in business used to be, "location, location, location." to delivnow it's,chnology "network, network, network." so you need a network that's built right. verizon bus

apple is getting in on the buy now and pay later trend, competing with incumbents like paypal and affirm. their cl will tell us how the competition stacks up. let's get a look at the markets. reporter: the first week of loss after three weeks and gains. you start to see a risk off day in markets when it comes to be stop markets. s&p 500 down three quarters of a percent. where did that money go? straight into treasury. yields coming in flat on the day but started much higher and ended up flat. it tells me that the bid for treasury is alive. it is in those semiconductor stocks. this is the two-year chart here. you have this big acceleration. you have this acceleration from the global chip shortage showing up in the stocks. you start to look at the right side of the chart, a little bit of stagnation. you did have news coming out that it could potentially look to acquire global foundries. a $30 billion company that may increase its mobile capacity. you start to see a slight pickup today. let's see, going into earnings next week if that stays put. emily: we will be all over that. thank you so

laura: to the point of your book the anti-defamation league working with paypal to try to stop fundinge groups are going to be. what does this say to conservative organizations or others that could be thrown into a list because they disagree on some basic issues, pick your poison on what issue. what does this tell us what direction we are going. >> this is the scariest thing, the perversion of neutral service providers, parlor kicked off by amazon web services and after january 6th you see it from paypal which is supposed to be a neutral service provider and the organization that is very probably to find in the content they are seeking to target, it doesn't just come from the government, not just people at the government level telling you what to do but the hijacking of institutions to ostracize you and push you outside the boundaries, the left is doing it every day. laura: everyone go by the book, the authoritarian moment is out tomorrow. president biden drops a stunning admission, raymond arroyo with seen and unseen next. look, this isn't my first rodeo and let me tell you something,

some of our strategic partners, people like visa and paypal that are investors in refund, for them itcknowledgment that this industry has strong potential for them and they want to build products in space. but they recognize that in order to get those products to market quickly, they will need to partner with some of the startups in the crypto industry to accelerate their product roadmaps. caroline: almost an introduction, to understand where they can be in the space. i am interested in the retail side of this, because for many, it is quite laborious to get into the crypto market, hard to negotiate and put your money to work. many want to see an etf. is that likely at the moment? spencer: very unclear in terms of the timeline. meantime, that is not really inhibiting any growth from retail investors in crypto assets. instead of going through the normal way and buying a a bitcoin etf, they are buying other products, or going directly to coinbase to access crypto products directly. there is additional work to be put in in terms of deciding which assets you want to get for long-term poten

he founded a company that eventually became paypal and made his first million when paypal was sold tooomberg business flash. i want to take a quick take on where the markets are because it is a massive week. cpi data coming up tomorrow, ppi wednesday, and we also have bank earnings. j.p. morgan and goldman sachs kicking off tomorrow morning. s&p 500 at 43.78 and the banks are leading the charge. rallying for percent on friday. in the bond market we go nowhere on the 10 year yield. just shy of 1.36% after a $38 billion 10 year option we got earlier today. investors not too pleased -- excuse me, not to upset about the supply takedown. amanda: one sign of life is over at msp. it will go public through the merger with lionheart. ceo john ruiz is with us. great to have you with us. let's start with what this brings to msp. as we know, you recover medicare, medicaid funds. what is the benefit of the public listing for you? john: the benefit is the public awareness number one. the government is losing billions and billions of dollars when health care costs are being shifted to it. in the wor

paypal has a similar offering.lding it into the iphone, a device where there is over one billion of them in the market and it will change the way people change things. thanks to all the loans from goldman sachs so i think this has long-term potential to shake up how people pay for items in stores and online and i think apple will pull this off in a seamless fashion and it will be exciting to see and i'm looking forward to giving it a try when this rolls out in the next year or so. haidi: mark gurman, our bloomberg tecra reporter. sure to tune into bloomberg radio to hear more from the news breakers. you can listen in via the app or bloombergradio.com. there is lots more ahead. stay with us. this is bloomberg. ♪ haidi: let's get you a quick check of the latest business flash headlines. a chinese asset management company has agreed to pay a bond. it has repaid the principal and interest of the bond on tuesday. the debt manager reached funding agreements with state-owned banks to ensure it can pay through the end of a

electronic currency would operate similarly to digital currencies like bitcoin, no payment service paypal, but the cb says the earliest we could launch is 2026. next, the army has been called in to protect businesses in south africa after several days of riots. over 1300 people have been arrested and at least 72 people have died in unrest. since the jailing of former president jacob's duma contempt of court violence and destruction on the streets of johannesburg, the economic capital of south africa. this shopkeeper is just one of thousands of petrified business owners caught up in the looting and vandalism now spreading across the country. the most wonderful woman follow what initially started as a protest against the incarceration of former president, jacob's duma, for contempt of court has mushroomed into nationwide unrest with the countries logistical supply chains fast becoming affected. fuel food and medicine shortages are now only days away. it started off as a political message to the government and it quickly erupted into riots and looting. and yes, we have a lot of poverty and p

, so you buy the atraditional bank, paypal.ade goes on like 50 times a week go out of the banks, traditional banks and into paypal. >> and to your point, the banks are not down sharply, so i don't want to make too much of it. and maybe in part they're down a bit because of the reduction in yield, ten-year hanging around 1.30, perhaps there's at least a thought that profitability of taking chinese companies public is not going to be there because that can be a nice business to have, and certainly we've seen that, but all the major banks are down fractionally right now. >> finally breaking out on that. it was kept down by the etfs upgrade by goldman yesterday was simply beautiful they probably understand, i think june was very good i know may was very strong i happen to like the company new corp. the best stel coel compan the world. integrated in terms of recycling. i heard the word that damns any stock. what is the word comes down like a duck, it's g supercycle remember the coal supercycle now we have the steel supersiep cycle.

. >>> and paypal boosting weekly crypto purchase five times to $100,000 paypal first started lettinger of 2020 and seen as a key step in the mainstream adoption of the asset class. >>> servicemax, backed by silver lake and ge and salesforce.com is merging with a special purpose acquisition or spac. the deal values servicemax at $1.4 billion check out the shares we are back after this >>> all right. welcome back t time for the three stock stories. moderna stock added to the 1s&p 50 on july 21st. shares of alcoa under pressure despite posting record profits on surging aluminum prices it saw its equity rise 0.9% on better than expected second quarter earnings topping estimates of $1.29 the company with $2.83 billion which was above forecast shares of american outdoor brands are sinking ahead of the opening bell profits did come in better than expectations the shares down 9% in the pre-market trade. >>> it has been two months since colonial pipeline was the victim of the ransomware attack and now hit with a class action lawsuit. the gas station pump ran dry for eight days eamon javers ha

to the point of your book, now you have the adl, the antidefamation league that are working with paypal to try to stop funding so-called hate groups. people think kkk, okay, it's no really defined what they hate groups are going to be. what does this say to conservative organizations or others that could just be throw into some list just because the disagree on some basic issues. i mean pick your poison on what issue. what does this tell us? what direction are we going in? >> this is the scariest thing happening right now it's the perversion of by the left, it was kicked off by amazon web services after january 6, and now you see it with paypal whic is supposed to be a neutral service provider, and now there saying okay, we're going to tea up with the adl which is a left-wing organization that is very broadly defined in the contents that they're seeking t target. it's not just people at the government level telling what t do, it's a hijacking of institutions in your life to ostracize you from your social security and it and then push you outside of the boundaries o normal everyday life.

we will get paypal earnings and facebook as well. keep an eye on facebook.d get google after the bell yesterday. the advertising demand numbers were good here. facebook is a slightly different story. the mix of what alphabet gets versus facebook is very different here. facebook's results expected to be about 50% growth on some of those main add numbers -- main ad numbers. also keep an eye about facebook's push into new businesses. that could be a key driver. paypal also coming out after the bell. we did get to see earnings last night. stocks also seeing deceleration, particularly with regards to some of that cross-border transaction. tom: thanks so much. we will see that this afternoon after the fed show. remain -- romaine joining us with a look at those equity markets. this is a joy for all of us at "bloomberg surveillance." he's been one of our hallmark guests through many years, going far back to the depths of bloomberg on the economy. we are thrilled to have him in the studio with us for the first time since this horrific natural disaster, john ryding of

the paypal subsidiary says it will roll out redesigned app where users will see payments made among friendsis is after buzz feed discovery of president biden's venmo in may. users will be able to adjust transaction privacy to public, private, or friends only. >>> still ahead, a big cat caught on camera. >> up close and personal. what makes this sighting so rare. >>> today on the drew barrymore show, let's make a deal host wayne brady is >>> today's tip of the day, a simple variety in the market, all sweet, juicy. when you cut them in half they look like a picture. they look beautiful. would you look at that? rewhite. rent d,y? seit ia ti when you te ntto make sure they have this beautiful co bring them home, on the counter not in the refrigerator. high sugar content means they will not store so long. these are wonderful and are also great in many desserts that call for plumbs. they're so sweet. i am tony tantillo, your fresh grocer. remember to eat fresh and stay healthy. >>> as covid cases creep back up, are more people willing to mask up in public? what we found out and what health offici

fans got a chance to get vaccinated at paypal park in san jose.rita county set up a clinic last night before the match betweeamica and atlas f.c. anyone who received a shot got free tickets to the game. the goal was to reach one of the hardest hit communities in the country. latinos make up 50% of cases in the county. >> this is an example of getting into a sport that is popular in the latinx community and getting the people here and offering them the vaccine right next to the stadium. it's awesome. >> last night's match was paypal park's first international event since the state reopen. >>> coming up, the seven things to know this morning. >> two words, signing bonus. the incentive up to grab. >>> a scary for situation for >>> we are coming up on 5:22 am. these are seven things to know. temperatures are 10 to 20 degrees warmer than yesterday. from 70 in san francisco to 97 in livermore. the hottest days are still ahead of us. >>> barreling at the east coast bringing rain and wind and the threat of tornadoes to the carolinas. one person died in fl

how it will rival paypal and affirm.

. >> i was going to ask you about the other platforms which you with been bullish on, like paypal, fort on these platforms as well? >> yeah, absolutely. look, the tide goes vice versa they are a little bit more insulated. bitcoin is 8% of gross profit, 4% of gross profit zwroefr all, including their point of sale system for paypal that number is lower. of course, you know, when bitcoin revenues dwindle, that hurts everyone but i think it's the degree of reliance on a single source of revenue that's a little more muted for the other platforms. plus, i think that both cash app and paypal, we hosted the talk guys from their crypto initiative last week for a meeting, and they have some very far reaching long-term thoughts about blockchain which i think are really interesting sounds like they are thinking beyond any coins and they are thinking about how can they utilize blockchain to get people in the day for paypal. so i think the play there is a longer play beyond any specific coin >> dan, thanks so much for joining us tonight let's trade this let's tackle coinbase. james, what do you say

i'm looking at things like paypal and walmart which isn't a growth stock but it is doing growth thinkicrosoft, paying dividends or go out to make transformational acquisitions. that is what i'm looking at growth. charles: phil, you've been pretty adamant the last few times about the 10-year yield. you said it would go straight you. it is going straight down. are you sticking with value being overweight value and are you still sticking with the notion this 10-year yield will skyrocket at some point soon? >> i am. you want balance in the portfolio. you want some of the growth names. but not where we were. the reason the 10-year goes higher, you see a jolts number 9.2 million jobs available. almost a million people coming into the stock market and you see grocery stores hoarding food, expecting runaway inflation, oils at $80 a barrel, what tells me a lot of overseas buyers are buying our bonds because there is a limit to that. i think we'll reopen but maybe not asfa as we anticipated. we'll get there by the fall. for that reason there is opportunity to rotate to the great value names and

for example, crowd funding paypal has become a way to raise money. bitcoin has been the currency of choice for ransomware and terrorist actors. to put this in context according to the global project against hate, from 2005 to 2015, just about every extremist group featured a pay squn pal button on their website. even though processing platforms became aware of the issue, began to ban extremists, these groups have persevered and maintained a strong online presence. so beyond social media platforms, new tech like crypto currencies, which are decentralized, largely anonymous forms of digital money, have enabled terrorists to further expand and disguise funding efforts. think about for many of us who are sort of in the 9/11 era, after 9/11, expect now the currency is virtual instead of filtered through couriers. we have seen a number of incidents in the past year that highlight the need for the federal government to understand these technologies to the degree to which they pose a threat and their impact on terrorist financing. just as nefarious groups ha

>> i look at paypal, this company is dominating, 725 million users by 2025 they are in crypto now butt apple did if you're trying to compete against them right now you want yesterday it was where, arrival of paypal investing and jp morgan in 1851. i'm getting confused but 200 years ago, test have a great weekend, i appreciate you and i want to hand it over move it sideways,. >> i personally think they might take it for the weekend and run but maybe not. thank you so much. happy weekend to europe. record highs to red arrows, the dow accelerating losses heading into the close of final hour of trading 244-point that seven tenths of 8% so let's keep perspective, s&p and nasdaq hitting all-time highs at the beginning of the week so the question is

usuarios de paypal podrán comprar 100,000 dólares en bitcoin y otras adquisiciones digitales por semanaual suspende a una persona en el aire por unos cuantos segundos en comparación al chaleco de gasolina un paso importante para esta compañía que fue establecida en 2017. la pandemia obligó a un grupo de mujeres a abrir su propio negocio vamos con los detalles. >> ellas son mónica araceli y marlene, tres latinas que comparten una pasión por el ejercicio la comida saludable y que juntas decidieron emprender en medio de la pandemia. >> cuando lo rentamos estaba a nada. después de un año y varios percances y demoras lograron abrir su propio negocio, un restaurante casero en un vecindario con enfoque en comida nutritiva. hasta que llegó el covid-19 y todo el mundo se enfermó tenían el sistema inmune lógico muy bajo y me pregunté, si era una buena idea si todos nos cuidamos a lo mejor hubiéramos tenido un pequeño nivel de riesgo más mínimo. >> estas empresarias esperan que a través de este local puedan inspirar a otros miembros de la comunidad latina a vivir un tipo de vida más saludable. >>

paypal is announcing users can purchase up to $100,000 worth a week and bitcoin is still down 40% from its highs, it's on the rebound this afternoon kim, i'll start with you because you're in the lame old traditional financing world. what's your big -- do you have a big thought on defi in this space that's gathering momentum? >> sure. i think everybody wants to have their cake and eat it too, right? but you're not going to have that i read some of the information provided by the company, and i can't quite get my head around it but essentially you know that they are going to be making money off of you doing transactions or at least leaving a deposit somewhere in your square or whatever this new thing is going to be called in the footprint. so, investor beware. nothing out there is free. and this certainly isn't a free transaction to you >> it's a good point, sara because if you look around, this is one of the things going on between crown base and strike right now. it's very reminiscent of the traditional space where this fee war in compression has already happened >> yeah, that's right

as it goes head to head with other financial products, against established players like square and paypal i've been on the board since 2016 the thing that's always astounded me about robinhood is that it just keeps growing and growing and growing and growing. you can see the numbers. clearly what they are doing is working. and it a very popular way to the access the financial markets i don't see any reason why that won't continue >> scott, finally we've been talking about risk factors all morning, regulations and all the rest, competition. but i wonder how you think about the possibility, hopefully nothing we would ever experience soon anyway -- but a large downdraft in either markets, market activity, the economy, household balance sheets where would those -- would those consumers that are in robinhood now would they just stop trading, go to more legacybrok ramblings to manage money? do you worry about that? >> well, you know, i worry about a lot of things in general because the future is uncertain. but what gives me confidence is that every year there seems to be some new source of grow

names like microstrategy, coinbase, paypal, visa would be in there, a little bit more traditional. bit farms is in there. as an example. and so we're sourcing -- heo we recognize the macropull and the growth in cryptocurrency specifically bitcoin and sourcing stacks in that sleeve, if you will, so we can take advantage of a long-term for our clients. >> that's interesting. good to talk to you anthony. thanks for coming on. >> good to be here thanks. >> that's anthony scaramucci sky bridge check out the mystery chart. a firm named in a top pick we tell you what it is whether ushtd add to it. we'll do that in the call of the day xtne only 6% of us retail businesses have a black owner. that needs to change. so, i did something. i created a black business accelerator at amazon. and now we have a program that's dedicated to making tomorrow a better day for black businesses. ♪ ♪ i am tiffany. and this is just the beginning. ♪ ♪ delicia: this is where all our recycling is sorted -- 1.2 million pounds every day, helping to make san francisco the greenest big city in america. but that's not

for example, over the past year paypal has invested $510 million towards equity inclusion and social justice causes. this includes $50 million in paypal empowerment grants that were distributed directly to approximately 1,400 black-owned businesses, many of which were also operated by black women. prudential made $10 million contribution to remove barriers to financial wellness in undeserved markets. duke energy deposited $5 million into octeus bank, a black-owned bank in south carolina. bank of america made more than $350 million in various investments across its primary focus area of health, jobs, affordable housing and small businesses. our member companies are also committed to increasing diversity inclusion in the workplaces from the top down. business roundtable announced a multi-year effort to reform their hiring and talent management practices and address inequities in employment practices. we know that there's a long way to go on this. these are just a few of the many examples of our member companies that have made good on their promises. one year of work cannot undo the cen

the paypal converged on chronology. what happened on that sunday in chronology? is it black all countries in am i live in a garage. what am i on at not? i am is jillian. i am living. i am muslin. i'm a mother. i'm a georgia. i'm a child. i'm old already one. this is a story of what it's like to be living and call a trailer at home. we are a strategy and, and this is our homeland is where we belong and this is what we have. i i use when i was a little kid, i remember like, you know, my needs that were shaking up and down just because like, you know, i don't know when i'm going to die. and the last, not only my brother, i lost my friend. i lost my neighbor too many people. i know too many people. i love me naughty itala and her husband call make doing the live in a civil war. between 975990 an estimated 150000 people killed in the fighting involving muslin and christian militias, backed by complex political align the 1000000 people are forced to flee their hon. mm. the extraneous christian, lebanese has powerful connections in politics, industry, and the law that t

we had a little bit of a taste of what square could report, mike, when we got paypal last night, which was not a good report what your take on the cnooc? what is your take on the trade here >> obviously we want to take a look at comps to get some sense of the numbers we will anticipate seeing. one of the reasons we look at earnings, it's a question we sometimes get. why do we even care? we don't necessarily happen what will happen a year out wereings tend to move stocks i think we should take a look at this earnings season and consider how they move stocks. when we've gotten good numbers, we haven't seen them take off. when we got disappointing numbers, maybe amazon will be an example there, we see punishment that gives us the sentiment. are they looking up or down. we have some sense at the counts they may not be great and some sense at looking at other stocks around earnings that you really have a high bar to get over to see a big upside move. even a marine disappointment could lead to a shellacking. so i rather like the trade structure. i understand why he is set up going into earni