asa gray apple thinks it is paying too much for qualcomm patents, and qualcomm once apple to pay up,the heart of the dispute. rishaad: you have the international trade commission. what can it do? >> it can't force apple to a up, but can stop iphones at the border. to the ipc of going is that the process takes up to courtshs, whereas in the it could be in legal wrangle's for years. haidi: what is apple's position on this? they have already filed an antitrust case. >> apple's position is similar to that of quite of few other players in the industry, which is that qualcomm is asking too much for the patents it controls that essentially underpin wireless technology today, so apple for instance has to pay phone, as every smart indeed every smartphone brand has to pay a patent royalty to qualcomm regardless of whether they use qualcomm's chips or not , so apple is saying this is unfair and they need to renegotiate a proper level for the rokita payments. this has been going on for a long time. i suppose what is really at stake is qualcomm's very business model, right? >> that's right. the m

so, whatst the impact if qualcomm wins on this?> well, this probably suspect going to begin to be heard until august and then it's going to take more than a year to be heard, so no impact on the impending iphone release that we expect to see in september. and plus, when these bans even do go into effect, they tend to be maybe less fireworks and more whiz bank poppers. we've seen scisco win a case against networks, but companies have some wiggle room to tweak their products and perhaps not be in violation of certain patents or settle before these rulings come down. saying that in the past ten years, it's om brought a case like this once before that was last year and it was settled before the itc made a determination, melissa >> all right, jon, thank you on the fight between qualcomm and apple. presumably, if this is going to take that long to hear and figure out, then that hold left on qualcomm's balance sheet with with revenues that it used to get from royalties from apple, which they said they're no longer going to pay, which they

the qualcomm royalties, qualcomm sued them. that is a dispute between apple and qualcomm.s like it will potentially be consolidated litigation between apple and all common. iphone makers are on the side but not necessarily directly involved. emily: how do you expect this to play out? >> i think it will resolve by direct licensing agreement. they will need to negotiate some type of deal. royalty rates are going down. at the same time, apple is asking for a lot in its legal case. qualcomm will likely see some kind of reduction. and at the same time, this will resolve hopefully soon. the end of the year is always popular. there is a bit more clarity in the legal claims. emily: thanks for breaking it down. the vision fund lent 100 $14 million investment in a startup that specializes in developing software having technology for robots. the startup is based in san diego. different types of commercial and consumer robots. the chairman and ceo said that it is developing truly groundbreaking technology. it is not the only investment announcement, they're also making a $200 million

you have that back stopping you. >> pete, do you own qualcomm >> i do not own qualcomm. >> okay. >> i own micron the stock, i own micron the calls i am not in qualcomm. >> good to see you. >> good to see you, man. >> let's give you one more point on micron. the xlk, the tech etf is up more than 7% in three months, micron is the best performer in the index one month later up on average more than 4% >>> ahead on "halftime" mario gabelli answers your questions tweet us use #askgabelli. the fate of o.j. simpson as his parole hearing is to start at the top of the hour. jane wells was on to cover the trial. now she's onto the next hour. >> scott, the o.j. machine just keeps rolling along. interest in the case is reignited. a lot of people making moneyon it can o.j. simpson that story when we come back where to get in... where to get out. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. >>> welcome back to the "halftime

tough to make a camera without looking at what qualcomm has already done.ntire device by licensing at the end level. >> even if they have the same features it's only a matter of the input from the manufacturing in terms of improving certain parts of that phone. >> they typically don't have the same features. also the value of that ip. the value of the fundamentals that made that industry exist sort of realized by the end price of the device. it made sense to me that you pay on that level. that's actually a two decade long standard of how the industry has been organized forever. >> why now why do you believe you're facing this from apple now. >> we had challenges to our licensing business before. i'm sure we'll have them in the future as well we haven't really heard a new argument this debate, but the difference is who is making it and i would say the length to which they're willing to go in order to put pressure on. >> do you expect you'll reach a settlement >> the history for us is that the rhetoric can can sometimes be quite, you know, quite aggressive bu

. >> when we come back, apple is trying to stop qualcomm from selling some of its ipads in the unitedtes? one of the most watched and increasingly heated legal battles and tesla shares slipping this week entering bear market territory and it was once a $3 billion company now one silicon valley darling is liquidating dow is up 56 the banks are pretty flat and f.a.n.g. is up better than 1%. back in a minute at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. >>> markets at this hour, dow is up 56. we're seeing pretty good action in technology. the peak of the prior bull market started forming exactly ten years ago. our senior markets commentator mike santoli is writi

medical examiner down 1%, qualcomm down 2.5%.nging on right now to a 3% gain by the way, with today's gains, the information technology sector of the s&p 500 closed above it's march 2000 prior closing high there is yet another record for you. let's get over to qualcomm which we mentioned was trading 2.5% lower on it's earnings john ford just spoke to the ceo. >> i just got off the phone with a couple of his top deputies don't expect to hear a lot of new news or really any new news about the legal issues with apple on this call he said they don't have a lot new to share also confirmed that the miss on the guidance on eps was due to analysts trying to figure out the mix of business in this legal environment with apple they're providing qualcomm's providing some additional numbers that they hope will help the street to do that. also, we talked about nxp, that pending acquisition. he says he's confident that it's on track, not just on the regulatory front, but, you know, the shares tendered so far are about where they would expect. a

qualcomm outlook fourth-quarter to $.81.earnings $.75 qualcomm one of the chipmakers for apple,a supplierlot of questions about whether there will be commentary on this legal dispute between apple and qualcomm. legal claims that undermine the chipmakers attempt to force apple and other contract manufacturers to pay licensing fees. we will look for commentary on that in the conference call and earnings release. joe: some earnings from american of $1.47,2 eps revenue of $8.3 billion. we see the initial reaction is up 1.5% in after-hours trading. have analysts expectations, but the market liking what it is seeing initially. scarlet: we have a headline. marketake in whole foods jana. we will keep you posted on developments. joe: let's get some insight from oliver renick. the earnings are coming fast and heavy. we are still early days, but have we learned any trends we can discern? oliver: a few things. firstly, bank earnings, the read through on what will happen in terms of companies related to policy, and the fundamental core of banks and what has been happening with the trading. we will get

apple refused to pay license fees to qualcomm recently and that hit qualcomm stock. filing a complaint with the international trade commission, a suit for the southern district of california alleging that apple sin fringing six patents. they are going to ask the itc to bar the importation of certain iphones, not all iphones but certain iphones. the time frame on this, they expect it sometime in august and sometime next year to probably conclude, not to expect the iphone that we see launched at the end of this year i spoke earlier today with don rosenberg who is executive vice president and general counsel at qualcomm here's a quote from him on the screen talking about the patents that are at issue here he says qualcomm's inventions are at the heart of every iphone and extend well beyond modem technologies these patents specifically have to do with battery management, and -- and inside of iphones he says ipads 2 when i smoke to him and how to maintain performance while conserving the battery. apple has said, qualcomm, you have great modem technologies but you're charg

betty: the apple-qualcomm's back turned nastier.hey won a partial ban on iphones imported into the u.s. yvonne: violence or reps ahead of the g20 in hamburg. protesters tell leaders, welcome to hell. we have world coverage. some harsh words coming out of germany. in seoul, second quarter profits should be coming up. betty: we are watching the g20 meeting in hamburg. we have will have insights for washington and across asia, what to expect from those talks and that meeting between putin and trump. this is "daybreak asia," live from bloomberg's usn asian headquarters. i am betty liu in new york, just after 7:00 p.m. after 7:00is just a.m. here in hong kong. i am yvonne man. for markets, the stress has been in fixed income. hawkish talk has brought stocks lower. check out this bloomberg. you can see the tally what we saw overnight. classes sold off, in tandem, for the first time in 10 days. this is the s&p 500 etf and the treasury bond etf. last time we saw these moves was 2013. which has some wondering, is this the start of a taper ta

qualcomm as you mentioned, sinking after hours. fort monitoring the call at headquarters >> off the lows, but still looks rough and on the call, these licensing and legal issues of qualcomm's have been dominate ing the questions and the impact on analysts mod else how to figure out what to expect going to happen in the current quarter. trying to provide a little extra information on that, but analysts still have questions, not just about this dispute, but the dispute with another qualcomm trying to say hey, this is nothing new for us. by the way, we'll continue to be on pretty good terms with apple through this take a listen. >> we have a strong relationship with apple for many years and they have been a long standing and valued customer. we intend to continue to provide them with our industry leading products and technology as we always have and do our best to remain a good supplier to apple. even while this dispute continues. >> meanwhile, the company says the mxp acquisition remaps on track with four approvals achieved, also, so

even ifn it doesn't have one of qualcomm's chips.atest battle in a longer war between qualcomm and apple over patent infringement and whether apple should pay for qualcomm technology used in the iphone. this is after-hours trade. qualcomm getting a little boost in extended trading. julia: almost two dozen state are trying to increase consumer privacy protections after congress rolled back regulations. the move would prevent companies like verizon, at&t, and comcast from using subscriber data. this is just one example, it seems, of states deciding to go their own way when the government has repealed or rolled back earlier regulations. explain to us what is going on and how likely it is that the states decide to act unilaterally. quick states are moving ahead on several fronts. isadband privacy regulation one. we saw states reacting to the withdrawal from the paris a with pledges to go ahead with greenhouse gas reductions. we saw a california scoff at efforts to eliminate mileage improvements for cars. something is going on. in this pa

. >> qualcomm suing apple in it's escalating battle over patents how that could effect shipments of the iphone but first up the better than expected jump in june payrolls, 187,000 jobs in the private sector that unemployment rate tix up to 4-4 as more people enter the labor force average hourly earnings between 2, maybe that's the only complaint some people have why that would not be higher given the number. >> there's many opportunities for come plants. i look at that and i say this is one of the reasons why i remain more than i think many people want and i look at this and i say look if you get job growth that still gives the fed reason to do some normalization which can i want because that's good for the banks but i look at the categories, i find it's really interesting to see that health care that we know has been on fire still gets people but how rabbit the fact that restaurants, i thought people weren't going out anymore. this would indicate otherwise. mining, maybe some of these industries are never going to come back. >> goose egg >> yes and financial it's positive i would love

at qualcomm headquarters in san diego. "squawk alley" is live ♪

qualcomm, qualcomm is asking the international trade commission to stop imports of apple iphones andomm chips. qualcomm is claiming apple is infringing on several of its patents on wireless technology in those specific devices. a spokesman says qualcomm is seeking payment on innovation this that it didn't make. also this story this morning, relaunching the galaxy node 7, police in south korea today, it is to minimize eco-waste and salvage of unused node 7 parts. samsung recalled millions of node 7 found after some of them caught fire or exploded. the company could release the galaxy no date as early as next month. test labs new model 3 electric car could begin production today. elon musk says $35,000 vehicle passed all regulatory requirements for production two weeks ahead of schedule, the model free part of the strategy to boost production to 500,000. separately, tesla also says they plan to build the world at large is battery system in australia. the battery design to light up 30,000 homes if there is a blackout. the stock trading higher in the premarket, a little more than 11/2%.

. >> qualcomm, it will be interesting to see what they have to say about smartphone sales and profitability. >> and a cbo score and a senate vote on health care potentially next week, as well >> it's been nice having you >> fun trip down memory lane >> let's get over to brian sullivan and the half. >>> thank you, carl, kala, and john welcome to the "halftime report," everybody happy friday i'm brian sullivan in for scott wapner your top trade today do you buy the banks now or wait for a better opportunity with us for the hour, jim leventhal, josh brown, sirott seti, and also here, tom lee and finally, from lake joseph, canada, mr. wonderful, kevin o'leary, chair of oshares etf investments. somehow he brought a billboard to a lake. the sector is well off its lows but a rough session for jpmorgan, citigroup, and wells fargo. pnc and first republic also reporting this morning, guys it is a big bank day the overall market is up, sirott, the banks are down is this a buying opportunity for banks or wait, because they're going to go even lower >> i think wait a little bit they're great opportuniti

ibm and qualcomm, a 4% johnson and jouin and united health, a more than 2% move.on't know which direction this should shake out, but it's a wild week. >> some of the most we may never get a straight answer for the first question, but the second one is simple. so over to professor ko. >> it's not that tough to do what the options markets are expecting for the future price move you want to look at the weekly straddle want to make a quick look at -- we do the math, united by the 157.5 or $160. one of the thipgs about netflix is that you see all of these big gaps in here all these big price moves. all of that came -- the thing is, this time, maybe not so much last earn, we saw relatively muted moves. september, 160 call spread we can pay $9.15 to get long that calendar call spread a very cheap price i like the -- >> a stock like netflix. mike when you're playing for it not that sort of move, but you're bullish, you're really saying you know what, i think it's probably going to come in there's other ways to trade it in that scenario i think it makes deny n netflix. i'm

mark: as if imagination and apple was not enough, we also have a fight between qualcomm and apple.t infringement. adam: apple and imagination with a patent dispute, sort of like a minor league baseball game compared to this. this is a gigantic dispute between two very big companies. apple has filed an antitrust lawsuit against qualcomm, saying they are trying to monopolize the chip market and qualcomm is countersuing, now try to get apple phones blocked from being imported into the u.s. to use a line from the godfather to the to -- going mattresses." mark: what about the long-awaited apple iphone anniversary? adam: samsung business can be impressive. they make the chips, this grains, the phones -- screens, the phones, all working together using a quarter like this which was massive. mark: adam thank you. coming up on the european close, only in four minutes time. check it out. check out how the stocks are faring. i will leave you with the currency boards as we approach the european close. this is bloomberg. ♪ vonnie: "bloomberg markets." this is "bloomberg markets." the federal res

qualcomm is accusing apple of using chips from its competitors that infringe on its patent. qualcomm plains to have develop -- claims to have made the chip better so it doesn't drain the battery. intel started supplying chips to apple for some iphones beginning with the iphone 7. >>> happening today, tests have begun rolling out on the model 3 tesla car. its more affordable vehicle in this case is $34,000, cheaper than the previously tested model. >> i waited in line the morning of the reveal so i could be one of the first ones, and i can't wait to get it. >> reporter: ceo elon musk took to twitter to ensure that the model 3 passed all testing ahead of schedule. it expects to make all vehicles in august, 1500 in september and plans to make 20,000 a month in december. >>> now to a scary scene on a delta airlines flight thursday night. shortly after taking off from seattle, a first class passenger allegedly threatening a flight attend, forcing the plane going to beijing to turn back around. two people were injured as a result. miguel almaguer has the story. >> reporter: a delt

we'll hear more from qualcomm.hey have some apple issues. >> talk about what we'll see from energy. the numbers here are eye opening. but there's some context we need to understand. >> earnings last year for the energy sector was 75 cents this year $3.34. that's substantial growth. a lot of that is the rebound in oil prices this quarter year over year, oil prices, witti up about 5% on average. the first quarter was energy price prices bottomed at $26, now we're below $50 a barrel here. but that's really good for the energy sector. that's what they need to do well >> a strategy standpoint, there's been so much talk about the developments in washington, d.c. is there going to be healthcare reform is there tax reform? all of these things are swirling around is there any way you or corporate finance managers can budget or forecast around some of the economic benefits are corporations, are strategists building an expectation for a trump agenda >> the short answer is no, they're not. that's because of uncertainty, especi

then there's big tech names, ibm, qualcomm, ebay and you already mentioned microsoft. there could be an updated volatility when all of these names report netflix, for example, is a notoriously big earnings mover the options market is implying a more than 8% move in either direction for that stock that's a big move. ebay is another big one. traders are expecting that stock could move higher or lower by 6% ibm and qualcomm are implying a 4% advance or decline. johnson & johnson and unitedhealth are predicting a 2% move it's going to be a wild week >> thank you, bob. >>> some of the most frequent questions we get from our fans are, one, why doesn't carter have a twitter account that's always asked. two, how do you calculate implied moves? we may never get a straight answer for the first question, but the second one is actually quite simple let's send it over to professor co with the call to action. >> square root of 2 over pi. skip that. it's not hard to do the back of the napkin calculation you want to take a look at the weekly straddle. take a look at the call option an

apple says qualcomm is overcharging. >> and if you paid $5 to the faa to register your drone, you maye eligible for a refund. the u.s. court of appeals says requiring registration violates federal law. >> the faa is not allowed to make rules involving model aircraft. they must also delete any user information. >> you can shop for sneakers on instagram. >> with about 700,000 people using instagram every month, they're hoping to reach a group they're hoping to reach a group of younger forged out of bravery, sacrifice, and duty. from all corners of the country, a family for life. ♪ but whether they served in lands far away or communities close to home, some of these men and women may face difficult times or even crisis. but sometimes reaching out for help can be the most challenging and worthwhile mission of all. thankfully, friends, family, and communities are standing by their service members and veterans now more than ever. ♪ we're all in this together. when you recognize something isn't right, make the call to the veterans crisis line or military crisis line. during times of crisis,

facing a lawsuit from qualcomm over an alleged patent infringement. let's kick it off with samsung. behind the better results? anything to do with the battery lasting longer? >> i don't think that is the core issue. is the robust semiconductors business. in terms of the battery fiasco, it is a cloud hanging over samsung, but is -- it is one that is dissipating. there has always been built-in tension there. what you have seen yesterday in ,erms of qualcomm suing apple is actually just a chapter in a legal battle that stretches back months. the two have already filed lawsuits and countersuits in california courts. manus: this is bloomberg. ♪ ♪ manus: welcome back. it is "daybreak: europe." we will take a green printer from wherever it comes. the bond market shifted down yesterday along with global equities. u.s. one put 7% in value. we are seeing a small moment of what i would call shortcoming. let's get to the business flash. juliette: warren buffett berkshire hathaway energy unit has agreed to buy texas's largest energy transmission operator. the all caps offer -- all caps offer is

chip maker qualcomm accusing apple of infringing on six of its patents. international trade commission to bar apple from selling some iphones and ipads in the u.s. qualcomm says the patents have to do with extending a phone's battery life. the two companies have been at odds for the past several months after apple sued qualcomm for anticompetitive practices. >> ♪ >> 5:15 on this friday morning. looking outside, m, looks hot and hazy. 75 degrees right now. 5:15 the time. mike thomas, okay, give it to us straight, no chaser. >> yeah, a l a little bit of shower activity still moving through this morning. that's the low hanging clouds you see out there and that means humidity this time of year. reagan national yesterday .87-inches of rain but look at dulles 1.68. there was a record. bwi 1.54-inches of rain and all that heavy mess we had throughout the afternoon. again some record rains did fall across the region. we're well above where we were even through all of june, only 1.13-inches, third driest june on record. we've doubled our june amount of rain just t

. >>> qualcomm is asking u.s.rade regulators to ban iphone imports in a new lawsuit the company arguing that apple infringed on six patents that improve on iphone battery life qualcomm shares up fractionally. >>> wells fargo creating a new stake holders relationship group. it combines investor relations, corporate communications, government relations and public policy this is the latest of the several organizational changes at the lender following the sales scandal last roar. >>> shares of lg electronics slipping after second quarter profits are likely to miss after weakness in its mobile unit. >> still to come, the battle between apple and samsung is heating up why one of those two smartphone makers could make history. stay tuned, you're watching "worldwide exchange" on cnbc (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring) hey you've gotta see this. cno.n. alright, see you down there. mmm, fine. okay, what do we got? okay, watch this. do the thing we talked about. what do we say? it's going to

. >>> the patent fight between apple and qualcomm is getting hotter qualcomm will ask the international trade commission to bar selling iphones in america on the fact that the chips inside go against patents. >>> samsung expects the operating profit in the second quarter to be the highest in history. the south korean firm says a surge in price in semiconductors pushed earnings 72% higher from last year. arjun kharpal joins us now big question for you is this still a smartphone company or a semiconductor company? >> it's still very much a smartphone company, but what we've seen is a diversification of samsung's business over the past year and a half, they say they have seen activity in the semiconductor market the other day they said they would put $18 billion into the semiconductor sector the data center is growing massively because of the explosion of cloud computing, and what consumers are demanding now. music streaming, streaming video that requires huge amounts of data processing, that's where we're seeing growth. why samsung is seeing a lot of success in the semiconductors, coupled

. >> we are urging people not to tender, not to tender to the bid from qualcomm, because qualcomm shoulday more given the comparative stock is much higher let's go to ray in florida ray? >> caller: hey, jim, thanks for taking my call >> thank you >> caller: amaren corps, your opinion on that? >> i don't know why the stock had that big upward move and i have to do some work on it i just can't say it's fine i have to do more work let's go to steve in florida >> caller: hey, boo-yah, cramer. >> what's up >> caller: i'm doing just fine >> good. >> caller: i watch your show i loved it you are like god, basically. >> no, no, man i just work hard and sometimes things come out okay but thank you so much. what's up? >> caller: all right i have a question for you about marriott basically so far marriott has been doing all right >> it's been doing great >> caller: which one do you prefer, the marriott -- >> they're both so good, but i like marriott right now. wyndham has had a bigger move. i think you stay long in that one. bill in texas. bill >> caller: hey, boo-yah, jim cramer >> boo-yah, bill >>

. ♪ emily: qualcomm is heading up the california coast.ed in san diego, they are setting up shop in silicon valley, according to axiom. qualcomm will continue to focus on the core areas of interest by global and emerging technology in the auto and connected device sectors. the group has seen success in both areas in the past, including the exit of one of the portfolio company's startups cruise, which sold to gm for nearly $1 billion last year. much of the u.s. is gearing up for a long july 4 weekend, including airbnb. in a new report, the home rental company documents how it plans to fight price gouging and save consumers at least $27 million on what they would have spent on hotels over the holiday weekend. this comes off the heels of reports airbnb plans to launch a new tier for luxury rentals. joining us, chris lehane, head of global policy and former aide to president bill clinton. chris, great to have you back on the show. chris: always fun to be here, thank you. emily you say you are saving : consumers $27 million on hotels this weeke

companies will publish their results this week, including goldman sachs, bank of america, microsoft, qualcommay. netflix numbers were posted after the closing bell. for more on that let's bring in financial correspondent on moore street -- on wall street jens korte. we have earnings reports every quarter for this time the numbers seem to be particularly anticipated. why is that? jens: i mean, there has been so much talk in the past couple months about the so-called trump rally, all these election promises, the possibility of tech cuts or infrastructure spending were supposed to be the reasons for the huge rally that we saw on wall street. but actually one of the main drivers was that u.s. corporations are increasing their profits once again. we are looking at the fourth consecutive quarter with a big corporations in the u.s. will increase their profit revenue. that has been one of the main drivers for the recent rally. we are shy only a less -- a little less than 2% to reach 22,000 points for the dow jones. a lot depends on those earnings and the outlook if we can continue with the rally that

qualcomm is suing apple for patent infringement. chipmaker claims that apple infringes six patents, covering various aspects of mobile phone technology. an apple spokesman said the company has always been willing to pay a fair rate for technology used in its products and attempted to negotiate with paul, -- with qualcomm for years without success. guy: terra firma capital partners will begin talks to raise 3 billion euros for a buyout fund. a terra firma spokesman declined to comment, but we will put that to justin king when he joined the set 9:30 a.m. u.k. time. that is your bloomberg business flash. at least a dozen power plants in the united states have been targeted by hackers. russia, the chief suspect. let's go to stephen stapczynski for more. he joins us from tokyo. let's talk about what we know, what we don't know. did the attack have any impact? the attack had no impact, according to the sources bloomberg has spoken with. let's take a look at the nuclear aspect, which grabs that the most alarming part of the hacks. reactor,

>> much more of qualcomm i think if this gets settled, will jump much higher than apple. >> ths thi they have to settle >> this is public airing of dirty laundry. >> southwest airlines, a lot of love >> whole sector looks great. i don't have any problem with southwe southwest. >> doc, syncronoss technologies may be talking about a sale. >> roughly mid-16s now this is a confirmation that they're at least considering that and i think in all likelihood, they will take it. >> all right, stifel has a buy rating on winnebago, which makes jim leventhal happy. farmer jim as a winnebago, too >> it does make me happy, scott. there's two things going on here one, the company is doing extremely well they bought a company a year ago that got them big-time into the towable space. that's been a home run but the second thing is, where we are in this economic cycle is just the perfect sweet spot for rvs. this is a highly, highly discretionary purchase but with wages picking up a little bit, and job growth picking up, baby boomers retiring, everything's going well for this stock. >> robby, your peeps over

the battery life of the iphone and as a result, get this, qualcomm wants trade regulators to do two ban sales of new iphones imported to the u.s. and also to halt the sale of some that are already here. this is more competition and rivalries in silicon valley playing out on the world stage right now obviously apple is contesting this. >> hm. okay. because i don't know what would happen if folks couldn't get the latest iphone when it came out. >> reporter: right. >> all right, let's talk about going on vacation. i'm actually going on vacation later this month and so a lot of my fellow americans. >> reporter: yay! >> yay! >> reporter: yay! yay! we're seeing record spending for vacations. americans will spends $101 billion this summer to just get out of here. if you look at the demographics that are spending money, millennials who are all about the experience not saving for retirement they'd rather save for the vacation they're actually spending the least about $1,300 per millennial whereas families and you're in this category, you are spending the most. you know, and it's probably bec

the two companies have been at odds for the past several months after apple sued qualcomm for anticompetitiver joining us. i'm maureen umeh. >> and i'm erin como. we have made it to the end of the week. it's been rainy, it's been humid. >> man. mike thomas, tell us what the day brings. it's already looking heavy out there. >> we do have good news in the future so it's not all gloom and doom. yes thick once again this morning. we have humidity and showers across the region. look at montgomery county through loudoun county and portions of fairfax county along i-66, are you dealing with a little bit of light rain shower activity this morning. little heavier farther out to the west along i-81 and watch as i loop it through. you can see that's generally heading in our direction. we'll keep an eye on these. could have some light rain showers for the morning commute. nothing like the heavy rain we had around the region early yesterday. here's a look the a your look ar futurecast. 3, 4, 5 o'clock lots of sunshine breaking out. we will heat things up to near 90 degrees this afternoon keeping the humid

market cap about $77 billion, right in between adobe and qualcomm -- adobe in yellow and qualcomm int.t my somewhere on here. i will toss it back to you guys and that of trying to find -- scarlet: we will figure it out later and you can bring it back later on. u.s. economic growth rebounded in the second quarter. data out showing gdp grew two point 6%, led by pickups in consumer and business equipment spending. what does this signal to the federal reserve? joining us as chief u.s. economist for bloomberg intelligence that says consumers have made america's gdp just good again. not great. not great. the elusive 3% threshold appears to remain elusive. i know yesterday there was late speculation among forecasters. that we could get a three handle on gdp. scarlet: why wasn't people were looking for faster gdp growth? there was ad that flurry of upgrades in terms of economists estimates are what second-quarter gdp would look like. it did not pan out. carl: one was inventory. it became apparent when we saw the latest round of housing data , we thought we would see weakness in residential i

next week, netflix, qualcomm, united health, johnson and johnen, just a that are reporting. are the banks sending the rest of the market a warning and is this about to look like selling season zm guy? >> i don't think so yet. jpmorgan's quarter wasn't great, but it wasn't a disaster if you're bearish in jpmorgan, it gave you ammo the reason why in my opinion, it didn't rally and didn't solve that hard is pause all along, we've talked about the metric to lock out with the banks. to me, it's priced a tangible boat jpmorgan, tangible book 53.5 dollar, so it's trading close to 1.8 times tangible book, which is where we thought the banks would top out. some other banks are not close citi being the biggest example, so, although jpmorgan was disappointing price action wise, i don't think you're going to sell the space >> i think it was good down 2.5%. the guidance for the back half of the year as far as loans were concerned wasn't great what's most important was the attitude out of jamie dimon. ewing four letter words on a family conference call like that >> i just thought it was i

like to thank our guests barbara these are the comments that are all around swell guy who likes qualcomm ali if you go to regis on twitter it's kaiser report until next time. welcome to the wonderful world of blood donation i come here every three weeks to get my transfusion to be specific i receive immunoglobulin my body gets and support is that i cannot produce itself around the world giving blood is seen as a. generosity. that's one of the side effects is that it. will put money on your car immediately. half of all plasma based drugs today come from private companies. as most. of you know. what are the risks of pay donation. there is proof that the frequency of pathologies is much higher paid. over two years old. and who runs the business. still exist. ricos treated as one. of. the islanders controlled by the us government and. even dependents. still many do wish to join the us. leave every day. with the country at a crossroads of the island is on the rise. the city of hamburg germany as police used tear gas and water cannons to disperse thousands of anti g twenty protest. time away f

like to thank our guests guillermo barbara these are the calmest and all around swell guy who likes qualcomm ali if you were it just on twitter it's kaiser report in til next time. i'm. going to the studio and. suddenly a shot. by then coffee for sure. by then is a shift the. not. going on. so it. can be no surprise was if you have the multiple injuries among can connect them to yourself you have the look of the show's real yammers on the phone to call home if you can because people feel so this is a. book in. my. home town of an. awful lot with. something. like. something. to hospitals look ma that. maybe maybe maybe all of that. still exist. rico's treated as one. hundred three cool. little can i knew a lot of. the island is controlled by the us government and some puerto ricans crave independence. either are. still many do wish to join the us hundreds more leave every day. with the country at a crossroads anger of the island is on the rise. to them is probably the first. president putin gives a revealing insight into his meeting with donald trump at the g. twenty saying the public doesn't

the phones, like apple and samsung, those who make the chips a go into the phones like intel and qualcomm. andy cintas accompanies the building of these networks that are going to bring us things like smart cities, ericsson, nokia, samsung. so all of that means that as we are the platform for the future, we also now representing companies and drones and even car companies. because what we do is we advocate for policies that will continue this amazing innovation that's in the wireless industry, and the investment that's going into this. we want policies that continue to instead the investment. so it's been a wonderful run and wireless is just at the beginning. one of the favorite things i do is i travel around the country and i visit our members. what they are doing is so exciting now and what they're going to do is also pretty amazing. so i just got back from the west coast. i visited one of our carriers have just bought a bunch of spectrum at a six outer megahertz auction, and that close two months ago. so barely yesterday -- 600 -- they had equipment and they're ready to roll up as soon

a handful of names like ibm, qualcomm, visa, ebayand you already mentioned microsoft.re could be an upstick in volatility when all these names report netflix is a notoriously big earnings mover the options are implying an 8% move in either direction tr that stock. ebay is another big one. traders are expecting that to move higher or lower by about 6% meanwhile, johnson & johnson and united health are both applying a more than 2% move. we don't know which direction this could shake out, but it's going to be a wild week. melissa, back to you >> some of the most frequent questions we get from fans, one, why doesn't carter have a twitter account? always asked and two, how do you calculate implied moves. the second one is quite simple, so let's send it to call to action >> we need the square root of 2 over pi. all right, that's the hard way to do it skip all that. it's actually not that tough to do a back of the napkin calculation for the future price moves. you want to look at the weekly straddle that means the call option and the put option that are close to the current s

apple says it has tried to negotiate with qualcomm for years without success.t has gone to japan's bond market. yen sold $1.5 billion of denominated that obama took advantage of falling fundraising costs in japanese demand for securities issued by well-known u.s. businesses. of unicredit says there are no more systematic issues for italian banks that is after the rescue of two banks and the -- banks in monte paschi. >> i think we have to put things in perspective. theou want to look at common racial used by investors, it might be 15 billion euros. it is a large amount. of the transaction of 17 billion think thenvestors, i market is in full supply. this issue will be resolved. taylor: that is your bloomberg business flash. francine: thank you. president trump is being urged by democrats and republicans to get tough with vladimir putin today in hamburg. yesterday, president trump it could be russia meddled into the election, but also said it could be others. we are back with christopher and julia. christopher, will we ever know what president putin president trum

qualcomm, which was out with he numbers. that company forecasting that sales in its licensing division drop as much as 47% in the current quarter. will drag down revenue by 13%.ch as software those earnings beat estimates. areanies solid results likely not enough because of how it's done this year. expectations. he points out that second blower was slightly estimates. as we look at earnings and try to decipher whether ventilations are too high. going to buy stocks, what will you buy? take a look at the bloomberg here. got a chart comparing evaluations. here you have it. the s&p 500g at forward price earnings ratio here in white. which has been climbing. around 19. which is relatively high. the bondparing with equity earnings yield ratio. something some financial analyst look at to valuesout where bond versus stock. look like it is over valued. to putlooking at where your money, bonds versus stock. by this one measure, stocks not necessarily looking over value. vonnie: that is fascinating. that we have our attention focused o

yvonne: apple wins recruits in its patent battle with qualcomm.ia are joining the fight over fees. betty: bhp's new chairman flags changes to the board. ken mckenzie is on a global roadshow to reassure investors. yvonne: this is the second hour of "daybreak asia," live from bloomberg's headquarters. i'm yvonne man in hong kong. it is just after 8:00 a.m. betty: just after 8:00 p.m. in new york. i am betty liu. moments ago, we had trade numbers showing smaller than estimated surplus, ¥439 billion, the expectation was ¥488 billion. exports quite healthy of 9.7%. what was interesting was imports, that is why the surplus. came in lower. up 15.5%. ,s we heard from yasser cold that is another sign that domestic demand is increasing in japan and investors are missing the story. yvonne: seems like we have seen a similar case with domestic demand in china as well. moremport figures could be of a bright spot and we are seeing in the export side. to break down how this plays in, the u.s. in particular, a point of contention we see between u.s. and china, kin

. >>> it's a great way being a telco semi-conductor including qualcomm trying to buy it at 110. the deal isn't about to close any time soon and the deal is 15 cents. there's no way i think that qualcomm unless nxp disappoints when they report in august is going to be able to get that at 110 if hah stock stays there >> talked about a number of months ago and continue to speak about but it won't become a pertinent issue. >> why should that be 15. >> they need 80% to close the tender big holders here might be an issue. >> your points a good one. we would rather this be an independent company. it's simply about the market multiple they believe this company could demand. >> yeah, sky work solutions, these are all valued much more hi highly. >> the session is between now and facebook. >> we have facebook. i didn't sleep last night because it's ridiculous. >> we'll see you tonight mad money, big show. in the meantime when we come back more on the record highs for the markets. d-day for the fed with an announcement at 2:00 don't go away. hey gary, what are you doing? oh hey john, i'm co

the $93 billion softbank vision fund have backers like apple, qualcomm, andy -- and saudi arabian wealth fund. facebook might be the next target for european regulators. what is next as the eu continues to put on the pressure? we are live streaming on twitter. check us out weekdays at 5:00 p.m. in new york. this is bloomberg. ♪ caroline: the parent of google says a european commission antitrust fine will cut second-quarter profit by 2.7 billion dollars. it will charge of the full omar -- i'm out net income. they were fined last week for using their market dominance and shopping results. facebook could be the next target for european antitrust why stocks. examiningoffices whether facebook takes advantage of its popularity by pushing users into agreeing to terms and conditions they might not understand. york,g us for you new james and eileen, they cover facebook. others at their point of view. alastair, let's pick up things with you. has germany looking into them saying they are more bullying when it comes to certain things. alastair: this takes the google charts to a whole new territory i

let's move on to qualcomm and t-mobile. >> t-mobile a staggering number. case. they are making a run for their money against verizon and at&t. gerri: they have been buying their market share and spending a lot of dough. >> a lot of people i hang out with have been switching from verizon to t-mobile. >> i want to talk about morgan stanley and goldman sachs. there was an analyst out with contentious comments about leadership. >> morgan stanley had a good quarter at the expense of goldman. morgan stanley did well in. mick mull vai had a call out saying it was time for leadership. he went back a decade and showed top line and bottom line at goldman have not climbed higher in that time. >> this has been a period where they have done fabulous as well. >> there is a lot of those goldman sachs people in the white house. i want to talk about general levels on the market. we do keep setting records. most of people are happy but i'm anxious and nervous about what's to come. when you look at the balance of the year, in october people get anandd get antsy. >> a lot of

lawyers will be involved, as they tend to be with apple lately, as another supplier, qualcomm, and are entangled in a mess. caroline: a question to broaden this out. this is not something just affecting imagination technology in terms of its dependence on apple. many companies are very dependent on apple. are there other suppliers many are worrying about? >> apple and the iphone was this incredible success story. there were a lot of companies who got the components inside to do a very specific little thing. but those businesses got caught on the rocket ship and went like this. of course along with that, they're glued -- their business became more and more reliant on apple. if they decide a technology is core to what they want to do that they will build it out themselves. tips is something they have been doing -- chips is something they have been doing more internally because you're able to get more power out of it or you can fine-tune it specific to the function you want to do, weather with siri were augmented reality. as they try to do more of this mayheir own, suppliers mai no long