the pursuit of outperformance at pgim.oss multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> we have one heck of a lineup today at 4:00. mike mayo, lil' tony will weigh in on tech jason sunshine >> what a show >> what time is this >> 4:00 eastern. i'll see all you've there in three hours. stephanie lee, final trade >> occidental petroleum. it trades at 5.5 times earnings. 5.3 times ebitda and they're generating just last quarter alone, over $3 billion in free cash flow. and berkshire hathaway now has an 18.7% position in the company. zp >> i was waiting for you to get to the berkshire part of that story. >> i'll go with kadant, a small to mid-cap industrial, really well positioned, leading market share in all its end markets and a great m

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join the pursuit of outperformance at pgim. the investment management business of prudential. >>> snap reporting its second quarter results after the bell today. the company remember back in may slashed its outlook citing a weakening economy. shares took a dive on that niew. joining us is roheed kokarni the chart is pretty ugly if you look since last fall, october or so what do you do with it ahead of these results? >> we talk like the setup heading into the print was -- the street has already cut estimates, cut numbers for both 2q and 3q. some of the checks that we did seems to indicate that the ad market is slowing down but not falling off the cliff. if snap is facing specific issues, they probably are going to be more conservative. i think they could do an inline and bracket print and spark a relief rally so long as we don't see any evidence of engagement from tiktok hitting snap as such that's the black box right now but it feels to me that we are at a price where the stock price is -- >> so you are a buyer. they do often s

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join the pursuit of outperformance at pgim. the investment management business of prudential. >>> all right, welcome back. let's bring in our headliner, bmo's brian belski who joins us now. it's nice to see you again welcome back >> thanks for having us, great to be back here at the nasdaq. >> let's get your view first i don't know if you heard the prior segment and the conversation there, but let's get your view on the market here given the fact that we've had a nice little bounce from the lows again. >> shocker, we're aligned with farmer jim, and you know, something that -- >> told you. >> something that liz said is really the really instrument/mechanism of investing stocks, lead earnings, which lead the economy so stock market's already told you that we were in a bear market, maybe a recession, maybe not. we've said on air it's almost a moot point therefore we actually agree with mr. wilson at morgan stanley now the earnings period obviously you and i have been sparring about our earnings number at 245, i actually don't thin

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join the pursuit of outperformance at pgim. investment management business of prudential. >>> the s&p sector heat map today led by utilities a little bit of a defensive tone today, staples and real estate, got some round number resistance if you want to call it that, the dow at 32,000, maybe that is a level that is going to be battled over for the remainder of the day, 4000 on the s&p, obviously significant their. we will keep our eyes up there as well. bertha has headlights for us. >> good afternoon. here is our cbc news update, president biden's doctor releasing an update on his health causing bidens covid-19 symptoms are improving and he is continuing to take the antiviral and tylenol, his fever has dropped and he will continue to isolate. >>> senators patty and ron are launching an investigation into abusive facilities that house children with special needs, and mental health issues, as well as children from the foster care juvenile justice systems. senators sent letters to the heads of four of the largest companies, and th

the pursuit of outperformance at pgim.ink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> the slowdown was driven by, well, pick your poison joining me now to discuss this and what we can expect going forward, mark schafer. once a quarter, sometimes we miss a quarter with us are you surprised at how strong things were, given -- that wasn't all the things we can cite >> the first half, you strict out the spac business, that is 60% down from what we call traditional m&a. driven in large by tech and industrial, and the megadeal, 10 billion and up that's off the greater year in m&a history, which was 2021. >> 2021. so you look at valuations held, premiums are up. and people ask why why was it so good se secondly disruption has not g

join the pursuit of outperformance at pgim. investment management business of prudential. >>> we have talked about gasoline and the energy security crisis in europe. we will get further into j&j. netflix tonight, there is boeing news. lockheed, disney, the opening bell is coming up in 5 minutes. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. - in the last two years, we quadrupled our team and the pace we're growing, i couldn't keep up without ziprecruiter. they do the legwork and they get my job posting in front of the right candidates. i love invite to apply. i instantly see great candidates and i can invite them to apply. we have hired across all departments, engineering, marketing, hard

robert tipp joins us, chief investment strategist at pgim.king at the clipping of coupon and gaining of total return through bond capital appreciation. any of the indices say -12%, -14%. i have a bond from a toothpaste company that is -28. can you call all clear, given the distractions of the ecb and everything else, that the price will go up and yield will stabilize or go down? robert: let's start with a long-term good news first and then we can move back to the action today, the boj ostrich situation. let's start with your question. five to 10 years from now, the world will be older than it was in 2019. we will be in a moderate growth low inflation environment. part b. when you look back, when are you ever going to see growth and inflation higher than it is now? wherever we are on interest rates over the next month will be a high watermark. it is tough to make the call. tom: is it a call of full faith and credit, investment-grade, or something more distressed? robert: we can see what is the government credit? full faith and credit, we see t

at pgim, the pursuit is on for outperformance.r with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. through projectup, comcast is committing $1 billion so millions more students can continue to get the tools they need to build a future of unlimited possibilities. >>> another day, another clippo company filing bankruptcy. this time under the circumstances celsius, filing for chapter 11 protection. our kate rooney has more kate >> hey, david. good morning this is the third major crypto company to file for bankruptc

the pursuit of outperformance at pgim.hink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. >> welcome back. american express dom chu is taking a look at that dom? >> leslie, on a day with markets moving to the upside we're up a hundred points on the dow and it's the notable outperformer the card services provider, bank card issuer topping analyst estimates on both earnings and revenues also raising, by the way, its full-year revenue forecast it was also the latest of the bigger financial players and banks and finance companies to indicate some resilience in the consumer spending picture despite some of the economic uncertainties that we've been tracking very closely in the last several months. in particular, amex says there was a st

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there is a gap of 2.5%, we heard that from michael collins of pgim earlier, and there is 3%?isa: 3.7% for an end of the year fed funds rate. tom: brean capital is at 4.5%. lisa: tim reidy at deutsche bank saying 10 year treasuries should be below 2%. talk about bifurcation. tom: there is where we are into the weekend. some of that tangential. let's say you are secretary yellen and you need a brief on e.m.. no one better to do that with an geoffrey yu, senior market strategist at bny yellen and he carries the heritage from jonathan anderson at ubs. i want to talk about the 20% depreciation off of the pandemic, and all of that is strong dollar. as i mentioned to mohamed el-erian earlier this week, jp morgan emfx is on a decade-long 48% decline. how fragile is jerome powell's bangkok? how fragile is his jakarta? geoffrey: all roads lead to beijing. there are no chinese tourists. it is still going to be a struggle. countries anticipating reopening , you cannot stand around an economy like that from service based into something more reliably contained. it is still going to be quit

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join the pursuit of outperformance at pgim.dential. >>> after a long delay, voting could get under way early next week on a bill to provide billions in support for the u.s. semi-conductor industry. that's according to multiple published reports. that would help american makers to be competitive. right now joining us is pat gelsinger, the ceo of intel. thanks for being here this morning. >> thanks, becky >> we've been talking a lot about the chips act this morning and where things stand it sounds like there could be a separate stand-alone vote just on this part of the bill, not wrapping up other things is that your understanding of things as well >> yeah, i think there are three pathways right now they have the skinny version of the competitive act. or third, they pull the two pieces out that are related to chips and just vote on those and clearly the second and third options have been getting a lot more mention in the last couple days, and we're starting to see, you know, both the house and senate leadership lining up behind on

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join the pursuit of outperformance at pgim.l. >>> welcome back to "squawk box. netflix shares are jumping the streaming company lost 970,000 subscribers in the second quarter, far less than the 2 million it had expected. it also said plans to unveil a lower cost ad-supported tier of service in 2023. now giving more of a timeline around it. and earnings of $20.30 revenue, we should say fell short. netflix warned of the strength in dollar's impact on the international revenue which makes up 60% of its top line joining us, former nbc cable president and cynthia littleton's here variety's coed t-editor in chief tom, i'm going to start with you. your take on these earnings. both concerning the value of netflix but also how you think it's going to change or not the conversation in hollywood, which seems to be whipsawed by what's happening in the streaming world and the costs associated with it >> well, good morning, andrew. i don't really think this was a defining quarter if you're a bull on netflix you have support here. if you are