procter & gamble for example.the news today. -- does thismpany slow growth put pressure on them for example, because it can grow faster because the overall gdp is not going faster. >> for a different reason. generally, when you're not getting top line, you're getting more productivity below the top line which means cutting back on investments. you want to be able to have that margin to reinvest in the business to get growth. but if you don't believe you have the underpinnings of growth than it is hard to make that decision. fundamentally i think it is quite difficult, the cycle we are in. companies of been nimble and figuring out how they will go about creating growth. some of the biggest companies are very local, where they are, they act locally. 22% of its sales in china, doubled over 10 years ago. general electric has 30,000 people in china. about wage difference, it is about manufacture and local markets. for a midsize company or smaller company doesn't have that resource, it is more difficult. david: ok you w

following up on a story about procter & gamble.rs in ohio we called it procter and god they were so important to local economy ther there. you think of activists investor going after smaller companies to have a bigger impact, going after procter & gamble does that mean there ist? >> well, that is a possibility, i will tell you his last couple of targets, i interviewed with procter & gamble. he is going after old school big asset companies with a lot of bureaucracy, trying to find places for them to trim down that old school that old school company size, p&g is a 1 87-year-old company, i don't think there are any schooled companies that are safe. gerri: they already have done a lot of cutting. they have cut many brands, i don't know. what would you tell procter & gamble investors should the they -- hold, buy, sell. >> very easy when a an activist investor gets a hole of the company, hang on to ta stock do, no trim down the stock, the -- trim down the company, and stock going up in the future is pretty good chance. >> thank you. >> t

the other was born in the 19th century, procter & gamble. we begin tonight with netflix and the earnings story that broke after the closing bell. millions more people than expected subscribed to the streaming service in the latest quarter. new shows helped attract those new viewers at a time when competition in original content is intensifying. here are the numbers. for the second quarter, netflix earned 15 cents a share. that was a penny below expectations, but revenue was more than 30% higher than a year ago, beating forecasts at rou roughly $2.8 bil and the stock took off as you see there. rising initially in after-hours trading, hitting a new all-time high easily. julia boorstin has more on netflix's quarter. >> reporter: netflix continues to grow subscribers faster than expected adding a total of 5.2 million new subscribers in the second quarter, 2 million more than the company projected. it looks like netflix is going to continue to exceed expectations. netflix projecting, a stronger than expected 4.4 million subscribers in the third q

in corporate news, procter & gamble becomes the latest corporate giant. nelson peltz is angling for a seat in the busy jumpstart. all of that is coming in the next two hours. we are 30 minutes into the trading day of the u.s., and we are not moving very far. is moving enough, catching up to the closing indices that set the records on friday. any gains for the s&p 500 or for may make a record close for today's session. we are in the summer to older us. -- the summer doldrums. if you are looking at global risk, we are seeing it fall to the lowest we have seen for some time. global riskp aversion macro index -- the red line here is the average we have seen over the last decade. so now we have seen this index fall so much that it has met the average from the prior decade. that risk aversion is at relatively low levels. but again, there are pockets of activities where we are seeing risk aversion today, to continuing risk aversion in financials. after the numbers that we got friday and citigroup and wells fargo that sent those stocks lower, they are continuing

next, procter & gamble, a us firm worth two —— 20 $3 billion. consumer goods, that most of us use.ntal changes to the company. michelle, what would they do if they we re michelle, what would they do if they were in charge? they say that they can bring about change at a much faster rate. this company‘s change at a much faster rate. this com pa ny‘s culture change at a much faster rate. this company‘s culture is at times resista nt to company‘s culture is at times resistant to doing things differently. this is why this activist investor, a billionaire known as nelson pelz is trying to force the board of procter & gamble to reva m p force the board of procter & gamble to revamp its business and he is pushing to try and get elected to the board of directors. whether or not this will succeed we will have to see, but the company has been struggling to increase sales. to give you context as to why this is coming about now. keep us posted. anotherfarm i want to talk about, netflix. how is that doing? this is the entertainment company reported earnings in the last few minutes. their reactio

>> first of all, thank you for the compliment but the second point of what procter & gamble is doing, the reality is they're cutting spending on just about every media owner that's digital. the problem that i'm pointing out is that when they're applying as much scrutiny as they are to facebook included every other major large brand will be doing the same most will continue to increase their spending but take view bability as one issue. very few are aware of how poor it is. when we talk about why that matters for facebook in particular for the 30% or so they're not allocating budgets to digital adverse tiegz atisin facebook in particular in terms of clicks. budgeting to digital advertising or tv or any other medium is based on a sheer allocation that's largely sentiment driven. that's how large marketers allocate their budgets you realize only 2% are being seen to be clear that's on a very low standard relative to television and you start to reassess your models a marketing mixed model or media mixed model it won't look as good your point i think is correct there. >> thank you very muc

for example, procter & gamble. they are in the news now.this slow growth put pressure on procter & gamble because if you cannot grow faster because overall gdp is not growing faster? inir: procter & gamble is the news for a different reason, i imagine. but more generally, i think we are not getting topline. you are getting more productivity below the top line, which means cutting back on investment. able to have that margin to reinvest in the business so you can get growth. but if you do not believe you have the underpinnings of growth, it is hard to make that decision. vonnie: that was blair effron, centerview partners partner and cofounder. the themecking with of political risk, it is time for bread is the -- exit talks take two. theclock is ticking towards march 2019 split. joining us from brussels with a look at the state of play is bloomberg european government reporter ian wishart. so we have heard a lot about progress, getting into the substance of the matter. how much of that happened today? ian: that's right. they have been demandi

procter & gamble faces a proxy fight for a board seat. a deeper look and trends and activist investing with morninging -- with morgan stanley. and k.k.r., private equity firm named for its founders, is preparing for a day when those leaders are no longer at the helm. an inside look at the company's succession plan. before we get to all of that, let's check in on the news. >> thank you. president trump continues to enjoy overwhelming support from the people who voted him in. but they're less enthused with his leadership on health care. that's according to the latest bloomberg market poll. 60% of respondents think it's unrealistic that a bill that lowers premiums and increases coverage will be passed in the next several years. health care also ranked as the most important issue facing the country. the second round of brexit talks began today in brussels. u.k. brexit secretary david davis is urging negotiators to push for progress on the rights of citizens living in each other's nations. the e.u. says that citizens' rights is one of three is

company that gave them the one point five million dollar windfall to go national with the theory procter and gamble the creators of such allowed processed food treats as chris go and one of the biggest donors to the american heart association century old p.r. push to demonize animal and alternative facts and the worst part is that the entire idea of the cholesterol from animal fat causes heart disease is based on the cherry picked data of the seven nations study a study that was done not by a cardiologist or a medical doctor it was done by john keats who held degrees in economics political science zoology and oceanography he concluded that saturated fats founded milk and meat have adverse effects. well unsaturated fats found in vegetable oils had beneficial effects which the american heart association pushed for decades and still does despite the fact that hundreds of studies actual studies have shown key's theory to be complete by well procter and gamble did was pay a nonprofit push their product is healthy and it worked according to the national institutes of health in the one nine hun

procter & gamble versus billionaire nelson peltz what it means for the stock you invest in.nd it's up almost 20% in the past month, up until 40% in the past three months, so is twitter back "power lunch" starts right now

procter & gamble has a market cap of over $200 billion.have underperformed their peers because of their insular culture. they have been talking with procter & gamble for some time. why did they decide to move? >> in july, there was a meeting where they presented their ideas for how this company could turn around and be a little faster and more responsive to the market changes. they suggested at that meeting that nelson peltz get a seat at the board and the company's directors decided that was not the avenue they wanted to go because they already had a plan in place for writing the ship. ting the ship. david is this a restructuring : situation? >> it is not a breakup and not a ceo change. it is very much acceleration of the plan. peltz does not believe that will have any impact whatsoever unless they have somebody there guiding it and pushing it through. >> a country moving to reduce financial risks and stimulate growth, some banks have lowered the rates they offered on wealth management products. >> the wealth management product part of th

call me at 1-800-743-cnbc, or tweet me the big story today is a proxy fight for a board seat at procter & gamble nelson pelt z wants a seat at the table because the stock has underperformed the cohort and the broader market for the life of me i don't understand why they won't let him in given how well companies tend to do once he's on the board. on the other hand, you have to wonder how much he can do to really make it work better still, my feeling is that procter and gamble is worth owning that's been my view. you have one more way to end the uglier it gets, the more shareholders can gain. i regard a make or break level, dow dipping 8 points today nasdaq advancing .03%. there's a slew of earnings that every important group i follow the results we get this week, i think, would determine where stocks are headed for the rest of the quarter we're certainly off to a good start with netflix, tonight reporting a huge subscriber number international subs exceed domestic users the good news sent the stocks soaring after hours. i think it might be good for the other fad names. a good sign. tomor

we both started our careers at procter & gamble. we are both big sports fans, although his antics are more famous. that is just the exposure you get when you're the owner of the los angeles clippers. many of you know i am an avid proponent of american civics. and arizona was the first state in the nation to pass the american civics act. that is where all of our high school seniors will have completed that test, so they will be able to pass the same exam that new citizens to our country pass so that they understand our system of government. i am thrilled when i see business leaders getting involved in public service. there are many people i grew up with in business that want to somehow be involved, and i always say there are other ways to affect change in this country other than running for office. that is why i am excited for all of us to hear about steve's new factstive called u.s.a from the man himself. i heard him interviewed two mornings ago and now we have them here in person. let's give a warm welcome to steve ballmer. >> [app

procter & gamble is much different.apprehension back in february i think, when he announced the stake was, listen, i'm sure it's going to work out in the long run but in the short run, go back and look at dupont, september of 2014, that was a $76 stock i think. briefly traded up to 80. within a month and a half, you're talking about a $50 stock, albeit because crude oil was getting crushed. if you follow the guys and girls in on 13-fs, gs, h, i, j, k, you have to be careful, it doesn't mean you're going have the instant gains you want. >>> still ahead, blue apron shares getting obliterated today on reports amazon is entering the meal kit delivery space. we'll tell you how much worse it could get. >>> we'll take a final look at netflix. the stock still up more than 10% in the after-hours session record high here much for "fast money" right after this you always pay your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perf

by trying is reportedly gearing up for a proxy fight against procter & gamble. writing that down straight ahead. so new touch screens... and biometrics. in 574 branches. all done by... yesterday. ♪ ♪ banks aren't just undergoing a face lift. they're undergoing a transformation. a data fueled, security driven shift in applications and customer experience. which is why comcast business delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. one laugh, and hello so i tried always discreet. i didn't think protection this thin could work. but the super absorbent core turns liquid to gel. snap! so it's out of sight... ...and out of mind. always discreet. for bladder leaks. lea: summertime tragedy in arizona. cheryl casone has the details. reporter: good morning, dagen. nine people dead including two children after a flash flood swept away a popular swimming hole in northeast arizona. a total of 14 people slept down the east verde river inside the national forests

if you go over the last quarter, procter & gamble they're trying to be able to reduce costs but when you look at the organic growth i think it's grooming you can see how unilever has done much better and there's a case to be made not really in nelson's page but about emerging growth it's been unilever sarah is on vacation and she's from cincinnati. the reason i mention that is not to be funny but there's an emphasis that perhaps proctor is not worldly enough. >> and or whether they have access to talent or enough of it as a result of where they are. no one wants to take a shot at ohio or cincinnati but that's been an argument what people are also questioning or want to understand here is why fight here if you're procter & gamble you have nelson peltz trying to expand the board and he wants to add him and keep fern he would be replacing by just increasing the size of the board. he's not saying he wants to break up the company he's not saying that he wants the ceo replaced this does come after what i am told are relatively friendly engagements that moved along so i have asked that ques

verizon and procter & gamble. the return of unlimited data helped verizon sales surge past estimates. meanwhile, cost cuts helped beat expectations at procter & gamble although sales were flat. investors liked the news out of both companies, in particular verizon was up more than 7%. >>> on wall street as a whole the nasdaq touched a record high before tech and a big reversal during the day. the dow managed another record close. the dow rose 89 points, nasdaq dropped 40 and the s&p 500 was off two. >> royal dutch sales said profits tripled while connick could he phillips were better than expected. earnings season so far has been fairly strong, bob pisani explains why the oil patch could, could be a threat to the stock rally. >> earning are humming along with gains of more than 10% now expected for the s&p 500 in the second quarter. there's one potential little fly in the oiptment out there, and that's big oil. exxon mobil, chevron and other big names will be reporting tomorrow. something unusual is happening. beca

procter & gamble versus billionaire nelson peltz what it means for the stock you invest in. and it's up almost 20% in the past month, up until 40% in the past three months, so is twitter back "power lunch" starts right now >>> welcome. i'm michelle carew sew cabrera. transports and the small caps, the russell 2,000 trading above record close right now check out the individual movers. coach, constellation brands among the names hitting new highs today even though constellation has pulled back. tyler. >> welcome, i'm tyler mathisen here's what's happening at this hour blue apron plunging 10% right now. reports that amazon may look to get into the prepared meal kit market more on this ahead and manufacturing in new york state growing for a second straight month in july, but it is at a much slower pace new orders and shipments both slipping just a bit. and celebrity chef bobby flay is planning to take his fast casual burger chain public. melissa? >> the trump administration is calling this week made in america week and today the white house is hosting a made in america showcase

michael procter allegedly murdered 41-year-old turkesa page.e told police he killed her and tossed her body in a dumpster t her body has yet to be found. procter is charged with first and second degree murder. >> another possible hurdle for president trump's travel ban. a federal judge in hawaii has filed a request to expand the list of family relationships needed by people seeking visas from six muslim majority nations. the judge wants to include grandparents grandchildren uncles and aunts. last month the supreme court exempted visa applicants from bona fide relationship with someone like a parent spouse or child. >> happening today, president trump and first lady melania trump will kick off their final day in paris. the couple will join french president emmanuel macron to celebrate bastille day. >> after a private meeting yesterday the two presidents faced questions from the press. it was mr. trump's first time publically addressing the controversy over his son. our melanie alnwick has the latest. mel. >> reporter: good morning, guys. we're l

thanks, julia. >>> procter & gamble is also just out with results.arnings at this point, at the company a couple of numbers. we'll use the adjusted number of 85 cents that would be above the 78-cent estimate the net number was 82 cents. sales, i don't know how this will play. sales basically flat because of some negative currency effects organic sales were up 2% in the period and then for -- this is the fourth quarter, so fiscal '17 is now done, so now we're seeing some comments from the company about next year, about fiscal '18 core earnings per share growth is seen at 5% to 7%, although gaap earnings per share down 26 to 28% for the first quarter it will be the lowest organic sales for fiscal '18 this is the first report since activist investor nelson peltz launched a proxy fight against the company. joining us now, john moller, cfo and a member of the cnbc global cfo council. so you had some currency headwinds in this case, john the dollar has been getting weaker why? >> as you said, we just finished our fiscal year so those were earlier in the fi

they have been talking with procter & gamble for some time. why did they decide to move?ting where they came in and presented ideas for how this company could turn around and be a little more responsive to the market changes. they suggested at that meeting that nelson get a seat at the board. the company directors decided that wasn't the avenue they wanted to go because they already had a plan in place. anchor: is this a restructure situation? breakup, andnot a not a ceo change. it is very much acceleration of the plan. ♪ china moving to reduce financial risks and stimulate growth. some banks are said to have been sold to lower rates on wealth management products. >> the wealth management products part of this push is particularly important. there were $4 trillion in total. there quite popular for retailers looking for a higher , much higher than you can get on other products. the banks like them because they are on alternative source for funding the money markets. the reason regulators are worried is because they are saying if you are paying yields that high, there is a

& gamble, trian's nelson peltz is seeking a board seat at procter. consumer giant has a bloated strukter and costs he's not looking to replace the ceo or any current board members. we'll hear from nelson peltz when he appears on "squawk on the street" at 9:45 a.m. eastern time bank of mark mel lon has a new executive chief officer. charles shark who was formerly the ceo at visa. he replaces the ceo who will remain as chairman through the end of the year. and watch for the latest numbers from netflix, after the closing bell, and now happening this afternoon. analysts predict netflix will report quarterly engs of 16 cents a share on revenue of nearly $2.8 billion. they'll also be keeping a close watch as they always do on subscriber growth. >>> a new report on the economy this morning suggesting some good news for workers. steve liesman joins us with the details. is this wage inflation finally starting to -- >> i don't call it wage inflation. i call it wage growth. we can talk about the difference a little bit later but that check with your raise might

wright thinks medication, procter & gamble before the opening bell.um, capital management of fox news contributor. good to see you. >> good morning, thank you beards in the christina very strong earnings. do you expect rising p&g and intel to continue with wall street? schema specifically like in intel, believe it or not 50% in the intel is basically flat. then research reported yesterday at more important than something like facebook, which i believe it's up six or seven bucks in the premarket and next is amazon and next week apple. that's the defining moments of the market right now. the other three vodka in the market. >> amazon comes tonight. we heard from the federal reserve yesterday. what sense do you get perhaps the next interest rate hike coming in the summer. what do you make of the paring down of the balance sheet of how the market will react? >> they will probably do one more, maybe two more, start backing away. keep in mind for $.5 trillion of bonds they have to back away from. the biggest story for me is what you heard last week and that

. >> key things to watch >> i will watch procter & gamble they have a fight with nelson peltz who wantst on the 11-member board. they're fighting it. >> you have ivan menezes of diageo coming up as well earnings aoss crthe board today. "squawk box" coming up next. or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. >>> stocks again, new highs as wall street's fear index, the vix, sets an all-time low following the fed decision >>> and it is actually the busiest day of earnings season we'll bring you results from comcast, verizon, procter&gamble and twitter. >>> and a second healthcare vote failed in the senate this is an actual repeal the ones that they voted on many times. this time seven senators did not -- republican senators didn't go along with it they're turning to plan "c." the so-called skinny repeal. we'll get a live report from washington it's thursday ju

we'll take you inside the proxy fight that is taking place at procter & gamble again, it is still thearrowest range for the dow in a few years, less than 30 points we're back in a minute you always pay your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance. >>> nelson peltz joined us on "squawk on the street" this morning in an interstrew talk about the proxy fight with probl procter & gamble back to recap what a 20 minute interview that was >> yeah. a lot to go over there of course, something unexpected here is the presence of a proxy fight at all mshgs would have thought after the ownership for quite a few months and their desire for a board seat that p & g would say, okay. he is not asking them to split up the company he's not asking the

yes, i started my career at procter & gamble but i am also almost a native of toledo, ohio and i grew up in north toledo, called detroit, michigan for some. and, i, too, am an ice cream guy. the governor may have started cold stone creamery but i am a good customer and i love ice cream. i am also a numbers guy. i would say when i retired from microsoft three years ago, one of the sources, what will i say, of energy that i missed was the numbers aspect. , myshortly after i retired wife, who has been running our philanthropic activities for years, very focused in on child welfare issues and now more broadly we are focused in on opportunities for children born in the u.s. who may not have any other shot at the american dream. it is a real issue. after i retired, i couldn't get too focused on that. she said, come on, let's get your brain and engaged on some of the issues of children. i said, come on, the governor really does this. supports the old, the government supports the is it really a role for us other than paying our taxes? you can doh uh, better than that. ultimately, i believe sh

yes, i started my career at procter & gamble but i am also almost a native of toledo, ohio and i grew up in north toledo, called detroit, michigan for some. and, i, too, am an ice cream guy. the governor may have started cold stone creamery but i am a good customer and i love ice cream. i am also a numbers guy. i would say when i retired from microsoft three years ago, one of the sources, what will i say, of energy that i missed was the numbers aspect. , myshortly after i retired wife, who has been running our philanthropic activities for years, very focused in on child welfare issues and now more broadly we are focused in on opportunities for children born in the u.s. who may not have any other shot at the american dream. it is a real issue. after i retired, i couldn't get too focused on that. she said, come on, let's get your brain and engaged on some of the issues of children. i said, come on, the governor really does this. supports the old, the government supports the is it really a role for us other than paying our taxes? you can doh uh, better than that. ultimately, i believe sh

and, you know, if folks don't like it, if procter & gamble don't like what's going on with the companyng about capitalism, sell the stock. you've got nothing to do with it anymore. so these activists should be applauded. it's exactly the best of what capitalism is about. liz: yeah, vote with your feet and your wallet, jonathan. thank you so much. love having you go on. >> great to be with you. liz: remember evergreen college? we brought this story to you. it's a school where an activist group planned a quote day of absence. just not going to school at all. they're asking white students to stand down. and everybody calling out the school. she says it's focusing so much on race. it's actually becoming more racist. we've got a student who agrees here to react after this. (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ringing) (audience cheering) whatever it takes, wherever i have to go...i'm beating this. breast cancer treatment is continuing to evolve. ctca is definitely on the cusp of those changes. we really focus on taking the time with each individual pa

. >> i just got off the phone with david take loshgs the c david taylor, ceo of procter & gamble theres a fight for a board seat on the company. something that p & g is against. here's what david taylor told me "i will continue to listen to nelson as i listen to all shareholders." i asked him given the track record and the experience in consumer companies yshgs not add him to the board here's the direct quote from david taylor he says, "there's noggin kremental that pelts has offered. i want to prevent anything from derailing the work we're doing we have a rigorous selection for board membership the fact that he has good advice doesn't mean we just add him to the board. i pressed him, why not taylor said, "what pelts tends to do is bring a number of folks with him manage ment would have to spend a lot of time briefing them to have a group come in to be a shadow management team to p & g is not what we need right now. taylor went on to sashgs "i respect respect peltz but we have to move on and we have the right plan and portfolio." taylor says that is being shown by the troults dresults

procter is charged with first and second degree murder. >> ♪ >> happening right now it is july 14th.t's bastille day i and president trump joining french president emmanuel macron as the country commemorates french independence. >> this is president trump's final day in faris. despite today's pomp and pageantry the president hasn't been able to leave controversies back at home. mel. >> reporter: this was an opportunity really for president trump to enjoy a morning in paris away from the troubles at home. the united states is a guest of honor at this year's bastille day celebration to commemorate 100 years since the u.s. entered world war i. american forces led the parade both in the air and on the ground. the two presidents stressed their country's long history as allies. even though questions about russia followed mr. trump to paris. mr. trump and mr. macron met privately thursday. they discussed trade, immigration and global security, still reporters expected the american president to finally speak in public about his son's meeting with a russian lawyer. president did nothing wrong

michael procter allegedly murdered 41-year-old turkesa page. he told police he killed her and tossed her body into a dumpster. her body is yet to be find. >> organizers of the women's march and partner groups mobilizing another demonstration. protest is that planned to march from the n are. a headquarters in fairfax to the department of justice in d.c. they're expected to march 18 miles to the district to arrive at the doj by noon tomorrow. the march is in response to a controversial nra ad which the women's march has called to be removed because of its strong language. >> prelanguage. >> the two presidents faced questi it was the president's first time addressing the controversy over his s melanie alnwick has the latest. >> reporter: festivities beginning to get under way. the two presidents and their wives sat down to dinner last night at the eiffel tower as friends they said stressing their country's long history as allies. trump did make a bit of news though. not just defending his son but also talking about climate change. >> we'll see wha

the new york times, and procter & gamble are other big names reporting earnings. past half $1 trillion and is set to unveil another increase in revenue. investors also want to hear any use on its recent move into the supermarket business with the ta keover of supermarket business with the takeover of whole foods. that was samira in the united states. richard hunter is head of research at wilson king investment management. ben was talking through some of the movements on the us markets and the currency markets, particularly the drop in the dollar. that was largely due to comments from janet yellin. where would you place your money on the possibility of a third rate hike this year? i think at the moment december is just about on the cards. one of the problems at the moment is the complete lack of inflation. there is nothing wrong with the economy in itself. there is a global recovery. i think investors know they will not hike rates too quickly. they will not want to derail the economic recovery in the states but possibly be more in just in which then mentioned which

. >> procter & gamble taking on activist investor nelson peltz and why the consumer products company is fighting back and whether it can be successful we'll get into that coming up. >> and why the health care bill remains uncertain. new reports say that tax reform will actually move much quicker. we have details on that coming up let's start though with the big week for earnings. we have black rock shares under pressure at this hour after that disappointing earnings report this morning leslie picker steps in with details on that. leslie. >> reporter: hey, bill, that's right. blackrock raked in $104 billion during the quarter to put that into perspective, its qt funds were stand alone they would be the 26th largest in the u.s however, 80% of that comes from money going into blackrock's ishares etfs and index funds the firm has been lowering fees on etfs to capture more share as well that's a big part of the story behind blackrock's financials during the quarter revenue and net income both increased, but they missed analyst estimates. blackrock reported earnings per share of $5.24 on a

i ended up working for some big companies, procter & gamble in cincinnati and division of pepsico pizza in wichita kansas for a few years and finally moved to the d.c. area to join a startup in 1983. that didn't work. it was a big failure but to the people i met and i started america online in 1985 but it really took a decade before anybody knew what we're doing. it was a struggle for will were the first in the internet company to go public. we had less than 200,000 customers after a decade. it is just an example sometimes revolutions happen in more evolutionary way. >> you just have to have perseverance. that was two in the first way. was also true in the second way. facebook and snapchat really were overnight successes. started in a dorm room a couple years later, they are big companies. then the third wave, some of the dynamics are so fundamental around healthcare and partnerships become more important and policy will become more important if you will need more perseverance. those three p's or not so important in the second way but are going to become very important again in the thir

looking for big companies, procter & gamble in cincinnati and division of pepsico out of wichita cancer a few years and finally moved to the d.c. area to join a startup in 1983. that didn't work. it was a big failure by two of the people i met started america online, aol in 1985. it really took a decade before anybody knew what we were doing. it was a struggle. we were the first internet company to go public. it was 1992. we had been at it for almost a decade. we had less than 200,000 customers after a decade. so it's just an example, sometimes revolutions happen more evolutionary ways. you have to have perseverance. that was true of the first wave, now suturing the second wave. services like facebook and snapchat were really overnight successes. i think in the third wave because some of the dynamics are so fundamental about healthcare and some of the sectors of partnerships become more informed and policy will become more important, you also need more perseverance. find the first wave, partnership, policy and perseverance were not so important segue but will become very important again

practice and-- procter & gamble the largest company to face a proxy fight.and what does it tell you about procter & gamble, keith? >> it makes me very suspicious. because activist investors tend to be out for one person, the activist investor, they're not for america, contrary to what people think. if he's not aligned with my interests, i'm concerned. stuart: he owns $3 billion worth of procter & gamble stock and figures he can make it a more profitable company, more expansive with him on the board. it doesn't look like the market agrees with that, virtually unchanged on p&g, but i've never seen a company that size taken on by an activist investor. it's a new era, keith? >> it is. look where we are as a market. more money is chasing quality stocks, so the stocks are getting bigger. this is the first out of the gate in the big boys' league. stuart: dare we call this a positive economic indicator? google searches on buying a first home are up. is that an economic indicator. ashley: 11% to 44%. searching is great. buying is a whole different animal. you could a

now, here's the p&g story, procter & gamble. struggling to grow sales. so what?ir up 2%, merely $2 a share, $91 a share. flat user growth at twitter, uh-oh. that's not good news. that stock is going to be down and down big. 10% at the opening bell. what would that be, 25 minutes from now. weaker profit, weaker sales at whirlpool and even worse, it cut its forecast for the future. it's down 5.8%. astrazeneca, drug company, down huge, if i can use that word, after its lung cancer drugs failed. it's going to be down 15%. biggest one-day drop ever for that drug stock. all right. that's the markets, that's money. i'm going to update you now on tax reform. fox business has learned that republican leadership is trying to hammer out details on a plan by tomorrow. jim rah nays city's with us, ohio republican and a member of the tax-writing committee. sir, i don't want to to get dog bogged down in -- bogged down in details. is there one item which everybody agrees on which is going to get passed in tax reform? >> well, stuart, thanks for having me on, and i do believe that

>> a lot of these names than others or the consumer companies , procter & gamble. are the companies with devices and services and consumers can't seem to it without. the valuations get pretty rich like i said earlier would likely be an event. there is no love lost between president trump and jeff bezos. maybe that's the only thing that can stop amazon. true to our life within microsoft. they very talked about the fact there will be some kind of reorganization of their sales force as they try to modernize it. what do you think we'll hear? any good news here? >> microsoft is kind of rage. this is a company morphing into a subscription service. 23 times growing at 10%. gerri: david nelson, thanks for the intel. appreciate it. lea: coming up in sports, colorado rockies blow away the padres. gerri: marilyn manson is that this something dream. the european central bank meets today. but what they say about the european economy? a live report from london. let's look a u.s. stock market futures ahead of the opening bell. green on board this morning. dow futures higher by 13

let me go back to the big earnings situation procter & gamble, better organic sales, improvement in their 2017 outlook, that's up nicely, verizon, telecom's another big leader verizon had good numbers, positive report, big beat on the wireless net ads at&t has been strong as well the raytheon and all of the defense stocks have been on fire recently they had very good numbers driven by missiles and laser-guided bombs they're in the defense area. mastercard and verizon are both up 25%, very good reports overall for mastercard as well big oil is starting to report, royal dutch shell and conocophillips were better than expected the big story here, capital spending is dropping for conoco. i expect exxon and chevron will probably be telling us why is this happening, because oil is stuck below $50, everyone thought it would be $60 by now again, exxon, chevron, big story tomorrow finally, here we are, folks, we're just about at the halfway. let's not quibble, 48% on the s&p, earnings up 10.7%, earnings up 5%, that's why the markets continue to be up, earnings for the third quarter also still stro

procter & gamble, not much has changed. we will see how it ends up working out.tt management and paul singer are a couple of names that have been popping up with increasing frequency. elliott management is ramping up a retail targeted campaign to affect them. .hey launched this website elliott has been criticizing some practices, including its australia corporate structure and its investment in the u.s. shale industry. elliott initially came out with proposals in april after months of private talk that got them public. when a receding big picture in this world? we came up with a chart. but as this one way of looking at it here this is hedge fund research, which cracked the hedge fund industry. the hedge fund industry has been underperforming. of hedge global index fund research. then you have this activist fund index. obviously it has been outperforming quite handily. you don't always win them. take a look at energy. this is one where you had elliott management get involved, push for changes to the company. the holding was first revealed at the as of the end of l

more earnings on the way today including verizon, procter & gamble, and amazon.o helping stocks, the federal reserve is holding interest rates steady after fed chair janet yellen and company concluded the two-day meeting. the central bank will begin selling off its $4 trillion balance sheet soon. analysts think that means september. it left rates alone after three hikes since december. interest rates affect borrowing costs, raising rates for things like credit cards, auto, and student loans, and savings accounts. >>> facebook's news feed is running out of ad space. the company reported second-quarter results and revenue grew 45%. for any other company, that would be phenomenal. revenue up 45%, not facebook. sales have grown at least 50% the last five quarters because of mobile ads. its current ad space has peaked. it plans to make up the difference with higher prices and new slots in videos and its messaging apps. gee, i hope they can find more ways to fit ads in there for me. >> that is a tough bar to jump over for facebook and mark zuckerberg. >>> "early start"

cory: they could be a procter & gamble facility and you need to fly it from ohio to phoenix.e there is one unique particular record player stylus you need, and only one we have. it is in new york and it needs to go to san francisco. we will put that on a plane and instead of having to fly it to else, wee or somewhere can put it on our plane from the east coast directly to the san francisco hub and get it to you. you have much longer to order it instead of going point-to-point. cory: from a domestic capacity, when you get to 40 planes, where will that be in terms of how much of the stuff you are moving? david: we are not specifically stating what that breakdown is. around our different carriers. cory: is that how you think about it? asid: we think about it more customer demand. we start everything with the customer and work backwards. what portion of customer demand is best suited to go through the path we create for faster delivery and work backwards from that. cory: when you negotiate with the carriers, i'm not talking about financial negotiations but how they will service y

another quoted ware buffett that's cheaper than the other likes procter & gamble needless to say people bought facebook and netbooks because they loved the companies i always ask those who own the former, what do they think of instagram? just to be sure they know that facebook owns it and competes against it they always know and someone asked me how high broadcom could go? i felt like deferring my judgment to him. a father of a kid i know bought gaming stocks because the kid was wise to the work of eastport and had done some pohomework someone told me they researched herman miller. liked the consistency. another bought costco, that it's a good enough operator that it could co-exist with amazon i have to say i agree. people are beginning to wake up to the idea that owning the stocks of companies they love after doing some homework, not just index funds but in addition to them, turn out to be very lucrative. if that's the case, then that means some real fire power i mean genuine, billions and billions of dollars could come off the sidelines, which means we might have more room to run, eve