and peloton raises $550 million ahead of a public offering.ow does a home fitness startup fit into the broader tech ipo market. but first, apple's milestone moment hitting one chilean dollar market cap. how big is too big? it will drag tech names out of funds that have held them for years. does tech have too much: u.s. equities? amazon outspent microsoft and facebook is not far behind apple. joining me now, our guest who covers -- and on the phone, toni covers apple and tesla. we will get to your exchange with elon musk in a moment. what i want to talk about this reclassification and what it means. walk us through how the s&p weighting will impact the tech names? guest: tech's 26% of the s&p 500 in terms of weighting. telecom is 2%. what s&p wants to do is create a broader communications category. and what that means is names like facebook and alphabet will slide out of the tech sector and into this communication center. you will have names like netflix that will also slide out of consumer discretionary and into the tech sector. there will be

we have our ipo reporter and olivia -- the story on peloton. to start with the broader market. how does this year compared to last year? excited aboutuper how this year compares. there have been 33 technology companies which includes internet companies, they have raised $11.5 billion through july. last year and all of 2017 we had billionnies raise 13 dollars. we have almost jumped over 2017 when it comes to new listings in like dropboxdeals are pushing that number up. spotify does not even come because you remember that was a direct listing. bigger year. the markets continue to be conducive for initial public offerings. and investors do seem to be paying out for most companies. sonos maybe the exception. is planning to eric go public. why did they need all this cash? >> the point alex brings up may be why peloton says it may be his last funding round. at a $4 billion valuation which is huge for this company that makes home fitness equipment. i think they feel they're profitable. they are going to lose quite a bit of money at the end of this yea

peloton. i was on the fence about changing from a manual to an electric toothbrush.aner teeth. she said, get the one inspired by dentists, with a round brush head. go pro with oral-b. oral-b's gentle rounded brush head removes more plaque along the gum line. for cleaner teeth and healthier gums. and unlike sonicare, oral-b is the first electric toothbrush brand accepted by the ada for its effectiveness and safety. what an amazing clean! i'll only use an oral-b! oral-b. brush like a pro. ♪ ♪ you make me feel you make me feel you make me feel ♪ ♪ like a natural woman >> that was ariana grande and the roots paying tribute to the queen of soul, aretha franklin. and endless tributes like celine dion calling her the most soulful, inspirational singer of our time." and the mother of whitney houston paid a heart-felt 50 bren, my soul rejoices that i was able to walk through her life." becoming an anthem for social movement, reverend jessy jackson calling her a love no bounds. >>> and tomorrow's day happens to be the 18th day of the eighth month of the year of 2018 and expect

then john foley of peloton keeps people streaming and spinning for hours.a new round of funding we'll speak to him in a little bit. "squawk box" will be right back. broke my personal record. aflac!? no-good break. gooood break. i'm so sorry we can't make your barbecue. i'm just sick about it. aflac!? different kind of sick. if i can't work after surgery, how am i gonna pay my rent? all these bills? aflac! oh, aflac! and they pay you cash in just one day. see how aflac helps cover everyday expenses at aflac.com. today, there are more sensors on our planet than people. we're putting ai into everything, and everything into the cloud. it's all so... smart. but how do you work with it? ask this farmer. he's using satellite data to help increase crop yields. that's smart for the food we eat. at this port, supply chains are becoming more transparent with blockchain. that's smart for millions of shipments. in this lab, researchers are working with watson to help them find new treatments. that's smart for medicine. at this bank, the world's most encrypted mainframe

peloton. i was on the fence about changing from a manual to an electric toothbrush.er teeth. she said, get the one inspired by dentists, with a round brush head. go pro with oral-b. oral-b's gentle rounded brush head removes more plaque along the gum line. for cleaner teeth and healthier gums. and unlike sonicare, oral-b is the first electric toothbrush brand accepted by the ada for its effectiveness and safety. what an amazing clean! i'll only use an oral-b! oral-b. brush like a pro. i serve in the general assembly and we work together across the aisle to get things done. what fred needed was a management team. not just to have a long-term strategy for quantity of life, buy also an active strat for quality of life. ctca gave me an opportunity to accomplish my goals and my dreams. learn more at cancercenter.com/philalphia appointments available now. >>> the hammer could be coming down today in college. >> the school board is set to go over all of the ents for football player's death and t head coach's future. >> a look at those details plus tracking a wet weekend. >>

peloton. dixie ultra plates? with two pounds of steak. in each hand. dixie ultra. stress tested so you can stress less at dinner. ♪ call on me brother ♪ when you need a hand ♪ lean on me, when you're not strong ♪ ♪ and i'll be your friend ♪ ♪ i'll help you carry on ♪ ♪ lean on me ♪ mmm... ♪ lean on me... ♪ mmm... ♪ lean on me. they work togetherf doing important stuff. the hitch? like you, your cells get hungry. feed them... with centrum micronutrients. restoring your awesome, daily. centrum. feed your cells. >>> y 0 e focus on getting your gut -- in shape, can't inspire people to be great when you haven't seen your -- in years. >> imagine that pile of -- and that pile of -- trippy red looks like. >> how does a have a small -- with no real talent whatsoever. >> aquafina has the voice of a 58-year-old divorce.ttorney. i kn >> dj khaled is my favorite. i can listen to that over and over again. >> and another one. >>> shaquille o'neale is getting his own line of backpacks. he's 7'1" he styled the time cks to depict shaq's with the lakers and portraying him as an anime

peloton. ♪ darling, darling, darling, darling, you are ♪ ♪ >> celebrities and fans pour out their welln. her hometown church in detroit will gather to pray for the queen of soul. preparation is underway for a vigil this morning at 5:00 a.m. at the new bethel baptist church. there the pastor of the church where franklin got her start and the community are expected to fill the pews as they wait for word on the singer's illness. >> actress jennifer hudson returned home to c school back pack giveaway. the event known as hatch day is in honor of her nephew julian who was a victim of gun violence at 7 years old. julian was fatally shot with hudson's mother and brother in 2018 in their chicago neighborhood. hudson and her sister julian's mother gave out school supplies and back packs to low income families. the event is part of the julian d. foundation and is held annually on his birthday. >> still ahead, southwest airlines grounding some emotional support animals. plus relentless rains drenched the northeast. when will those storm finally move out in so at johnson's, we improved everything.

peloton. stop fearing your alarm clock... with new*! zzzquil pure zzzs. a drug-free blend of botanicals with melatonin ...that supports your natural sleep cycle... ...so you can seize the morning. new! zzzquil pure zzzs. gentle means everything to you and to us. so at johnson's, we improved everything. we used 50% fewer ingredients. took out dyes, parabens, phthalates and sulfates. beat the top safety standards in the world and added one handed pumps. gentle means pure, gentle means safe, gentle means love. the new johnson's®. i love you, basement bathroom of solitude, but sometimes you stink. febreze air effects doesn't just mask, it cleans away odors. because the things you love can stink. >>> you guys ever watch shark week? >> the shark thriller "the meg" swam into first place this weekend, taking in over $44 million. this marks the biggest domestic opening for warner bros. this year. sliding into second place is "mission impossible" starring tom cruise with $20 million and "christopher robin" takes third with $12.4 million. >>> it is monday. we have a

peloton. stop fearing your alarm clock... with new*! zzzquil pure zzzs. a drug-free blend of botanicals with melatonin ...that supports your natural sleep cycle... ...so you can seize the morning. new! zzzquil pure zzzs. gentle means everything to you and to us. so at johnson's, we improved everything. we used 50% fewer ingredients. took out dyes, parabens, phthalates and sulfates. beat the top safety standards in the world and added one handed pumps. gentle means pure, gentle means safe, gentle means love. the new johnson's®. i love you, basement bathroom of solitude, but sometimes you stink. febreze air effects doesn't just mask, it cleans away odors. because the things you love can stink. ep> police officer caught on cameratedly punching a man has resigned from the force, excuse me. a bpd spokesperson confirld it. a bystander recorded the brawl saturday after the officers proached the man on the street. the baltimore police officer has not identified that officer but says he has been on the force for just over a year. and that the incident had esanlate

their daughter so today the crackdown continued to chief editor of one of the bill russian outlets peloton was detained altogether six persons are now in custody ok so i think it's fair to say this this was basically a sweep pierre of all of these journalists what do you make of the timing why now. nobody really knows why but there might be some beauty explanation if this wave of detentions doesn't make sense from criminal point of view because it may be just a you know you know normal feat it makes a lot of sense from a political point of view because next year there might be prescheduled presidential elections and look i think he's obviously preparing for them now he already did that all the media in belarus that somehow get financial backing from the state now have by law to keep talk to pick up topics given by the state so and by organizing the crackdown the calculation might be that the independent journalist will be made b.d. and as long as these cases open well we thank you so much for joining us to tell us about the situation there in belarus and also to remind everyone you know ou

peloton. >>> the u.s. economy added a lesser than expected 150,000 jobs last month, but there's one industry that cannot hire workers fast enough. our kate rogers in salt lake city with a look at the trucker shortage kate >> hey, sair wraush that's right. the u.s. trucking industry currently short around 51,000 drivers and struggling to attract women to the field so i caught up with one new truck driver who's a real rarity in this industry take a look. john shell jenkins is ready to hit the road the 21-year-old just got her commercial driver's license after three weeks of training with cr england which employs 6,500 drivers around the country. starting pay for new drivers begins around $40,000 a year but those are experience can make six figures >> the benefits are great, great pay and offers a lot of miles. and because i love to travel and i like money so i said trucking is going to be best for me. >> reporter: young women like jenkins is a rarity in a work force that's only about 6% female and facing a s

mirapolis and that's not all the mad megalomaniac watched the conflagration from his palace on the peloton you know merrily singing and playing his liar. in need of a scapegoat he blamed the fire on the christians who meet indiscriminately and mercilessly crucified. the apostle peter was also arrested and condemned to death by crucifixion on the vatican hill. so that his death would differ from that of jesus he asked his executioner to invert the cross on which he was nailed. christopher mancini's is a protestant theologian and church historian he's one of the world's leading scholars of early christian studies in nero's time the christians were a new and obscure jewish sect. chad. when narrating cost events historical writers always tend to simplify reality somewhat for i'm for hold over the king and the simplification of reality in nero's case turned him into a ruler who unleashed the persecution of christians out of pure criminal intent so there was no legal basis though naturally many of the incidents recorded as. christian persecution was nothing more than the result of legal proceedi

peloton. ♪ ♪ wake up early, o. ♪ slap on some cologne ♪ i'm 85 and i wanna go home ♪ ♪ just got a jobd in savannah ♪ ♪ i'm 85 and i wanna go home ♪ ♪ dropping sick beats, they call me dj nana ♪ ♪ 85 and i wanna go don't get mad. get e*trade, kiddo. >>> welcome back to the closing bell just a couple of minutes of trade. first the s&p chart. you can see pretty much flat towards tends of the day you can say it's encouraging how we built towards the highs of the day at the end but not much happening if we look at the four indices, you'll see that the dow is slightly lower, s&p flat nasdaq is the only one that's up by .2%, the russell is flat. let's look at the sector performance. there's some sector divergence energy towards the bottom. utilities also lower telco, financials, tech towards the top. tech is just about holding on to being in the top sector as we approach the close at 0.4% i'll bring in bob pisani fresh low today, low seen in about a year as you can see there. had recovered over the course of the last year but today we're at a fresh low of the last year down pretty sharply. >

peloton. stars perform their newest hits.lton, keith urban, chris stapleton, jason aldean, luke bryan and one of a kind rocking duets thomas rhett and kelsea ballerini host... let's get this started! cma fest tonight 8/7 central on abc. xfinity gives you more of the cma fest with an encore performance from old dominion right after the show. only with xfinity on demand. and watch it live on abc tonight 8/7 central. >>> a news alert china's commerce ministry says it will match u.s. tariffs on $16 billion in chinese goods china had announced it would match any new u.s. tariffs >>> disney shares are slightly lower this morning after the company reported earnings that fell short of expectations julia boorstin joins us now with more >> good morning to you, joe. after disney's revenue and earnings growth fell shy of expectations, the stock first dipped but then they shot into the green during the earnings call after bob iger reassured that cord cutting was slowing thanks to the tv bundles. saying they've seen improvement. right now

and peloton raises $550 million

peloton. >>> so check please is going to be about tesla, and one of the checks is that mr. off a box. he has grown $850 million richer according to our robert frank, just since he made the tweet about a little after noon today to the point of which the stock is halted there. $851 million richer because of the price increase tweet >> i'm stock on what the former commissioner said saying, look, he could be guilty of fraud if the facts aren't true that funding isn't secure i thought it was very interesting that mr. pitt laid out this is what the sec says. >> stocks have been halted almost an hour as we've discussed earlier in the show usually when see something incorrect or not true tesla tends to be very fast to respond. in this particular case haven't necessarily gotten a response yet. i just wonder whether musk got ahead of his team in terms of putting that news out there. >> and who does that remind you of, by the way, with twitter we're waiting for news pending we don't know exactly what that news is, but we should point out that none of the subsequent tweets from mr. mus

peloton. why did i want a crest 3d white smile? dinner date...meeting his parents dinner date.used crest. crest 3d white removes... ...95% of surface stains in just 3 days... ...for a whiter smile... that will win them over. crest. healthy, beautiful smiles for life. >>> it is time time for the "lightning round" then the "lightning round" is over are you ready, skee-daddy? greg in texas. greg >> caller: booyah to you i've owned this stock a couple years. i'm curious what i should do >> i think you should buy more i thought the chairman acquitted hisself very well when he was on i think fuel could be peaking. to jerry in texas. >> caller: hi, how are you today? ? good how about you? >> good, doing well. i'm calling about a dpe wicompah a cloud-based subscription company you were talking about mid-june, $38. zuora, inc >> when the stock got to mid-30s we said cha-ching cha-ching and we said when it goes back down you should be buying it and you should also be reading his back about the subscription economy and understand why we like sales force and apple service stream and zoro t

peloton. year, i am sorry about that. [music playing] (vo) progress is in the pursuit.t month's lease payment on select models during summer of audi sales event. >>> hello, everyone. i'm sue herera here is the cnbc update larry nassar asking the judge rose marry aaquilina to recuse herself from the appeal of his sentence they claim the social media proves the judge can't be unby as the >>> nasa announcing the astronauts taking the first commercial trips into space. the crewed test flied using the spacex dragon vehicles and bogey vehicle are scheduled for 2019 >>> for the first time since 2011 we are on the brink of launching american astronauts on american rockets from american soil >>> and the new england patriots presenting tom brady with a cake to celebrate his 41st birthday in the shape of his number 12. fans on hand at training camp signing birthday greetings on a number 12 sign brady about to begin his 19th season in the nfl. happy birthday. >> is it chocolate or vanilla. >> probably a little bit of both. >> oh. >> i know. >> i want a slice. >> excellent. >> got i

to begin with, it will be the person who buys a peloton, who really cares a lot about personal fitnessrice point is higher to start off with. emily: it is $1300 and a scale is more like $20. cyan: televisions, when they first started out, they were $23,000 for flatscreen tv's. if you are a pioneer in the space and someone who is an early adopter, you are paying more, but eventually we can drive the price down the scale. emily: how does the technology work? cyan: it has sensors that do depth reading. so when you stand on the scale and put your arms up. have you tried it? emily: i have not. i will take one. cyan: i highly recommend it. i will try to hook you up with doing one. you basically stand on the pedestal and it turns around. afterwards, in about a minute you get what looks like a silver surfer image of yourself, a flattened out image, and you can see a 3-d model of yourself. emily: so talk to me about the potential here, the kinds of information this can give you and how it might change your life or how you live it? cyan: i think we are scale obsessed and obsessed with numbers th

outsize achievements, you never can tell but it's great insight from you, dave lyons, co-founder of pelotonineering at tesla. >>> the dow up 77. earlier today, this was the best day since june 7 you got to go back april 10 to see a day that dow was up 400 points. >> yeah, led higher with earnings on sysco and counterparts we'll see what the video says tonight. let's get to "half." >>> welcome to "the halftime report." i'm scott wapner our top trade this hour focus on the fundamentals a big bounce from stocks society on the back of strong earns from walmart and sysco, raises those issues whether those talks from turkey joining us now, joe brown,er is rat sethi, and jon and pete najarian josh, the dow's bft day since

peloton. ♪ >> bret: this is a fox news alert.ng the trump administration to restart in full the deferred action for childhood arrivals program, better known as daca. it is a political blow for the president who wants to phase out the obama era program. the judge denied is delaying implementation of this order until august 23rd to give the government time to appeal. but again, daca will have to be restarted according to this ruling. we'll see the fallout over that from the administration and coming hours and days. scientists are coming through boxes of remains delivered from north korea that are supposed to be from u.s. service members missing since the korean war. tonight, how experts are using various items to try to make those identifications. correspondent dan springer take a look. >> eager to provide answers to the many families who lost servicemen in the korean war whose remains are still missing, a team of scientists, historians, and archaeologists, wasted on time and examining the new remains just turned over by north kore

peloton.ifornia phones offers free specialized phones... like cordless phones, - (phone ringing) - big button, and volume-enhanced phones. get details on this state program. call or visit and accessoriesphones for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program call or visit ♪ >>> before the break, i caught you up to speed with the performance of the stay-at-home economy names, and for the most part they've been working very, very well. but this is a huge theme the idea that people, especially younger people prefer to stay at home staring at multiple screens rather than going out, it's here to stay. the thing is, given how much many of the original stay-at-home stocks have run, i want to find you some new ways to play this incredible long-term secular growth story so let's go to work. first off, there is food if you never go outside, you still need to eat. as i told you earlier, i still like grubhub and mccormic

they are the most unpopular team in the peloton, for a number of reasons, success is one of them.a rs he would ever attempt to do in 21 years in 21 days, he has put wales and cycling on the map. bike sales are up in cardiff! but in addition what is brilliant, we are never going to win. the most important legacy for geraint thomas is not the fa ct legacy for geraint thomas is not the fact that there is a little kid who might win the tour de france himself, but if every little kid goes out on their bike, and mum, and dad, and we live in a cycle friendly country, that is the true legacy of the success. more from you in just a moment, geraint is on his way, we are counting down to the moment he comes round the corner, he will ride on the street behind me on his bike down st mary‘s streets in the heart of the capital, kate morgan is there with some possible future champions. yes! riders gathering. no more excited than these three young riders. down same area speak to the castle. hayden and max are joining us, hayden, tell me about the moment you found out you would write the first ever

peloton. here's what's on the menu, the unfriending trend. latest results from facebook and snap showing that less people are joining, and many are leaving. have we hit peak social media? >>> plus, is elon musk's desire to go private a sign that it's not worth being a public company and being under constant scrutiny we will speak with kev o'leary. >>> with the midterm elections just 90 days away we will look at how real election hacking is. "power lunch" starts right now >>> welcome, everybody to "power lunch. i'm tyler mathisen a mixed picture in the markets right now with the dow the only index lower. there is a low pressure system moving across the great lakes. i will be coming into the pennsylvania area lather to the. biggest gains, on pace for a seventh straight day of gains, that would be the russel down here technolo technology, financials the leaders, oil sinks 4%. stocks on the move match soaring on an earnings beat and strong guidance disney down as eps and revenue miss and the "new york times" lower after adding fewer paid digital

peloton. >>> welck we have a news alert on cigna. seema modi has the details. >> cigna has a proposed $54 million merger with express scripts calling out investor carl, kahn in the letter in which he urged shareholders for the merger it demonstrates an uninformed view of the marketplace and cigna's strategy mr. icahn appears to believe that a multi-year partnership with an existing pbm provider would be preferable to the announced transaction. there are a number of issues with this view the stocks, cigna and express scripts unchanged after hours. michelle >> all right thanks for that update, seema. >> coming up, we'll get the after-hours earnings movers including why match is shoring, have you seen it going by? big mover. don't move with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show you the lowest prices... so you can get the best deal on the right h

peloton. salads should look like this. crisp leaves of lettuce. freshly made dressing.desk. now delivering to home or office. panera. food as it should be. panera. ♪ life is measured in moments. securian financial offers solutions that give you the confidence to enjoy the here and now. oh, honey... so you can make every moment count. ♪ ...with fitness ...food ...and farxiga, the pill that starts with "f". farxiga, along with diet and exercise, helps lower a1c in adult with type 2 diabetes. it's one pill a day and although it's not a weight-loss drug, it may help you lose weight. do not take if allergic to farxiga. if you experience symptoms of a serious allergic reaction such as rash, swelling, difficulty breathing or swallowing, stop taking and seek medical help right away. do not take farxiga if you have severe kidney problems, are on dialysis, or have bladder cancer. tell your doctor right away if you have blood or red color in your urine or pain while you urinate. farxiga can cause serious side effects including dehydration, genital yeast infections in women and men

peloton. >>> coming up when we return, the zillow ceo joining us after the break.tegy next and where he thinks things are going. we're back in a moment ♪ >>> welcome back to "squawk box" this morning right here on cnbc. we're live at the nasdaq market site in times square shares of bausch health are rising the company beating estimates on both the top and bottom lines. we haven't talked about valeant in so long now they're renamed, we don't talk about it like that. they also raised their full year forecast stock up 3%. >>> hertz global lost 19% -- or 19 cents if it was 19%, we'd have problems per share for the latest quarter. smaller than what was expected that stock is up 4%. i always worried if i misspeak that the algos will somehow take that and do something. >> we're premarket should be safe >> you never know. >> less liquidity, i guess >> hertz said it saw growth across all of the business segments >>> disney issuing quarterly numbers after today's "closing bell." expected to see earnings jump. yesterday the stock hit its highest level since may of last year l

consumers are walking through plals to learn about new products new brands, learning about tesla pelotono walk into seniors to take products home that is a big learning with first efforts into retail, was that, about half our commerce are taking product out of the store because they want right then and there what we do listen to the customer try to work backwards omni channel the way customers are shopping. >> america seems obsessed with a good night's sleep how are you feeding into that are you going to have sleep pads in store locations what is key to that good sleep. >> part of our broader thesis sleep is the third pillar will wellness people need to know they need to be active exercise at health and a great night of sleep huge, no matter what is important will help you be more creative athletic folks starting to invest more and more into quality night of sleepy our mattresses sell well pillows sheets, birthdaying to get you a better night of sleep consumers more aware how that impacts them. >> you amended dreamerry in new york city what is that book a 45 minute nap for $25 in new yor