he would presumably be joining reed hastings at the helm. he is currently the chief content officer. there was a great story just the other day about all of the money they have been spending to acquire these big budget type of movies that normally would be going to theaters this summer. it will be interesting to see the reaction. the options implied move, up-down move of about 12% up or down. we are starting to see some more numbers come in. caroline: i think it is the forward-looking really putting down with pressure. net change, 2.5 million increase. let's go out to abigail doolittle, who has some background. abigail: a big miss here relative to earnings. we see those shares plunging. the more important miss probably around subscriber ads. it beat the expected number, a little bit above $10 million. the whisper number was close to 10, even 12 million. this stock up nearly a double from the march low. they simply did not put it up even though they beat revenue slightly. again, earnings down and subscriber number for the second quarter missi

sure whattors are not the plan was for reed hastings going forward.f you look at the earnings call from yesterday, you got a promise from reed hastings saying he would be around for another decade. rbc capital says that's not a bonus to hear. and are running the content i know i have been watching "too hot to handle." so i think they will be all right. emily: we will have to swap netflix lists after the show. despite the light forecast, you did have some analysts upgrades -- jp morgan upgrading netflix to a straight high. what is the bull case given we are continuing to see this outbreak play out across the country and around the world? netflix has new frontiers for growth internationally. california just said all of our kids are only going back to school remotely. does that mean good things for netflix? i would agree. i think seeing a spike in these coronavirus cases, people being at home, they need entertainment. that's going to be one service they really go to. chance tos a good flex their pricing muscles and i think it's good news for investors lo

give us an idea of what sold this to reed hastings, if all of that was not enough?hael: reed hastings is one of the most innovative people. .e is a contrarian he always takes the opposite position. with one another on the board of charter schools for the last 15 years but we have also built a strong friendship. patty quinlan, his wife, and reed hastings, are committed to ending inequality in america. they believe education is the best lever. they have supported k-12. patty has been involved in criminal justice reform. they understand historically black colleges are making a big difference in the lives of their students. they can make an even bigger difference if they have the resources to help those students . morehousem to visit college last year. they decided to make an initial to morehouse, spellman, and others. they are already seeing the return on that investment. memphis alson in made a $40 million gift to at historically black college. vonnie: we will follow this as it goes along. get in touch with michael lomax to make your donation. the united negro college

their newlysaid named co-ceo has unofficially been working alongside reed hastings for years.is change much? >> it would seem not. it has been clear a long time sarandos was the king of ratings, and was likely to be the successor. in reality, it would seem as though reed hastings is still the superior partner, so to speak. os has been reporting to him for the past many years, so it would be unlikely there would be a disruption -- that. -- a disruption in that relationship. nejra: you have to leave it there. coming up, we will talk about the ecb. this is bloomberg. ♪ nejra: economics, finance, politics. this is "bloomberg surveillance ." global equities still heading for a weekly gain. we will get to the markets in a moment, but first let's get first word news with leigh-ann gerrans. hi, leigh-ann. leigh-ann: good morning, nejra. india has seen its coronavirus cases exceed one million, becoming the third country to cross that mark. in the u.s., infectious disease expert anthony fauci says many states reopened too quickly, this as florida and texas report a record number of coro

the group announces its chief content officer will join reed hastings as joint ceo.ust under an hour ago to the start of cash equities trading. with have a look at what is going on on futures market, a little bit of upside for european equity markets and u.s. markets for when we get to the u.s. trading day. ,eep an eye on nasdaq features quite robust, up around 7/10 of 1% despite after-hours negativity around netflix, contained to just a netflix story, not anything broader about the tech sector. we've had pleasing reports but they haven't always been accompanied. rising share prices is an interesting dynamic to discuss. getting some numbers from electrolux, recovering faster than predicted. the numbers look to be broadly in line with estimates. coming up, speaking to the ceo. the ceo will be joining us later on, jonas samuelson, shortly after 9:00 a.m. u.k. time. tune in for more details on that. let's move to the gmm and what we've got moving around in the hs equity -- asia equity session. that's indicative of what we've seen. the csi 300eakness, down after the much

no reed hastings says we are not going to do that, we're turning it off wow.hat a quarter ted sarados -- these people don't know who the hell jay hegue is. >> on sarandos they've already gotten in a sense succession dealt with, not that reed hastings is going anywhere, he indicated on the call he may be around for at least another decade. >> he's only 59, david. >> he is a young man he is a young man. >> thank you. >> you and i are in agreement on all those things at this point everybody is young. maybe warren buffett is getting a little old. >> top of his game. >> that's it everybody else is young in my opinion at this point. but sarandos will be there potentially as the successor when that day even comes if it is a decade from now, he is 55 years old which is very young by the way we should point out. guys, it was having to see some of the free cash flow that the company was able to generate as a result typically it's content spend in excess of their content expense, but now that's reversed because they are not spending as much on content because of the prod

portrayed in a local production but we really shouldn't be surprised because the co-founder of netflix reed hastings has previously said that his company is an entertainment company and that he's not he's not in the business of speaking truth to power like journalists do and netflix has limited content in other countries in india it has agreed not to show films or t.v. series that insult the national slagged or could outrage religions and just for balance let's also remember netflix is actually also limited content here in germany to the horror film not of the living dead is not available on netflix germany after a complaint from an office of used protection here so a reminder again that netflix is in business and will do what it can to stay in business the bottom line at the end all right jill dougherty our reporter bringing us the story thank you so much now people are arriving from abroad at germany's airports will be offered free coronavirus tests that decision by federal and state health ministers means that immediate testing will be available for those coming from corona hotspots people return

character depicted as being gay we shouldn't really be surprised though because the netflix co-founder reed hastings has previously said that he is in the entertainment business and it's not his job to speak truth to power we've seen this happen in other countries as well netflix india has signed an agreement to not screen content that would disrespect the national flag and actually let's be balanced here even netflix germany limits its content the film night of the living dead which is a zombie horror film is not on netflix germany following a complaint from a german office for child protection so what we see here is netflix is a business and it will do what it needs to to stay in business wherever it operates doubly reported jolt all right thank you for. your thoughts is here in germany offering free coronavirus testing to incoming travelers on the spot testing will be available for people arriving from comfort 19 hotspots people coming from a lower risk areas will also be able to test but at the bar if there's a way from the air force it's part of the country's bid to avoid a 2nd wave of infectio

character depicted as being gay we shouldn't really be surprised because the netflix co-founder reed hastings has previously said that he is in the entertainment business and it's not his job to speak truth to power we've seen this happen in other countries as well netflix india has signed an agreement to not screen content that would disrespect the national flag and actually let's be balanced here even netflix germany limits its content the film night of the living dead which is a zombie horror film is not on it's like germany following a complaint from a german office for child protection so what we see here is netflix is a business and it will do what it needs to to stay in business wherever it operates the reporter joe old all right thank you for. your sources here in germany offering free coronavirus testing to incoming travelers on the spot testing will be available for people arriving from confit 19 hotspots people coming from a low risk areas will also be able to test but it was away from the air force is part of the country's best to avoid a 2nd wave of infections. touched down in be

the group announced its chief content officer will join reed hastings as joint ceo. to the program, it is half past 6:00 in london. quick look at the futures market for you then, and we've got positive futures for europe, but not by much. u.s. futures looked. positive -- look positive. nasdaq futures look positive, despite reactions to netflix earnings. 113.85 is where we trade, downside in the dollar, downside in crude. raw materials back in april market. let's get -- a bull market. let's get to things that could move the market, brussels. eu leaders meet. at stake is a 750 billion euro package, backed by germany, to be funded by joint borrowing. tensions remain among member states, the netherlands leading countries calling for stricter conditions and smaller contributions. the market is hopeful it will seal an historic agreement, but negotiators are playing down the chances ahead of talks. let's get to a reporter. maria tadeo joins us. good morning. it is a marathon session but how likely is a deal by monday? maria: we just don't know. the official line is a deal b

he will be working along with reed hastings. delivered a disappointing subscriber forecast.ording to the financial times, it would prevent americans from using the video app. there's growing concern that tictoc's ability to gather data on americans is a huge security threat. that is the bloomberg business flash. nejra: thank you so much. the weekend head -- the week has been dominated by the virus and earnings. we look ahead to e.u. stimulus talks that could give european equities some direction. not getting any direction out of them right now. some optimism in futures. nasdaq futures, the 10-year flip, and the dollar heads to a third weekly loss. up, geraldine sundstrom will join us on the program, talking about building amid uncertainty. after five weeks of outperformance. this is bloomberg. ♪ 49... 50! i found you! good job. now i'm gonna stay here and you go hide. watch your favorites from anywhere in the house with the xfinity stream app. free with your xfinity service. now any room can be a tv room. stream live tv, on demand shows and movies even your dvr recordings. d

planning has been one of the russians investors have started to ask about the potential departure of reed hastingswhen you look at the announcement today, i think it definitely communicates that ted is going to be the guy to step in. he has been there from day one and as you alluded to, he is the architect of the original content strategy. he has a deep relationship in the hollywood community, very well regarded on wall street. i think this is a positive development. i also add that ted continues to keep his role as chief content officer, which is going to be crucial as they continue to expand and defend their content relationships. andy: i'm told that reid ted, this formalizes how they have been working together and they will be talking about this on the earnings call. we will be listening and. what is your take on these subscriber numbers? a light forecast for the third quarter. have they pulled forward some subscribers that may have come later in the year because people have been so dependent on netflix as they shelter in place? -- the pullw they forward the request going to be a factor. we saw

the move also comes after netflix's ceo reed hastings and his wife told me last month that they are committingome $120 million to the united negro college fund, moorehouse, and spellman. >>> thanks for being with me this hour. craig melvin here. andrea mitchell will start after a short break, "andrea mitchell reports." stick with us for her interview with new york senator kirsten gillibrand, right after this. ths guys! guys! check it out. safe drivers save 40%!!! safe drivers save 40%! safe drivers save 40%!!! that's safe drivers save 40%. it is, that's safe drivers save 40%. - he's right there. - it's him! he's here. he's right here. - hi! - hi. hey! - that's totally him. - it's him! that's totally the guy. safe drivers do save 40%. click or call for a quote today. robinwithout the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. throughout our history any time something bad has happened to us ...we've recovered. every time. we fall, we rise. we break, we rebu

reed hastings made a point he's not going anywhere in the next decade.ed serando continues in his critical role as chief content officer, wearing his deep relationship with hollywood will continue to come into play. maria: so we were just looking at the stock chart. it has done incredibly well. as you know, tuna. but the company yesterday said they're going to have weaker performance in the third quarter and the rest of the year. what should we take away from that? we're all in this shutdown and obviously netflix is one of the beneficiaries of that. but they're telling us, this incredible performance is not going to last. >> right. maria, there's no question that q3 guidance is a little spooky. we knew coming into this earnings that there was going to be some impact, the pull-forward of demand from the second half to the first half due to the acceleration that we saw in the first half, as yo you alluded t, primarily due to covid-19 lockdown. with that being said, i think there's a lot to be said about kind of the longer term. while the second half of thi

reed hastings noted the emphasis on content creation. >> got big plans to spend future billions in our movies, series, animation. we've got lots of places to put the money and we're definitely focused on creating franchises >> joining us now, rich greenfield managing partner at lightshed partners and one heck of a fortnite player. let you get back to that -- what what >> joe, i'll play with you any day. we'll play any day. >> that is a cool shot lightshed logo is cool how is 10 million? is 10 million good for the quarter that ended it was above the 7.5 people were expecting. >> look, netflix is all about the whisper and do they get to the whisper, what's the guidance remember, they reported last quarter and people panicked. the stock i think plunged down to 400 -- i think it was 420 after hours and look at where it is now it's at 480, 475, 490. i mean, the point is, you know, fast forward three months and the stock is over 10%, 15% higher so this stock has moved in step functions for years. it's been the most volatile stock i've ever covered in my career covering stocks what's the fund

the promoted a chief operating officer to work alongside the current ceo reed hastings. analysts say the high-profile bitcoin scam raises .hreats to the company shares plunged after hackers targeted several public figures and one person says this could lead to concerns about user and data safety. twitter says user passwords appear to be safe. haslinda: looking at the markets, asian stocks higher, led by tech. never mind it was tech stocks that let the benchmark slower in the u.s. benchmark lower in the u.s. we have the msci index up by 100%, emerging markets trading higher, goldman a big believer in em's. csi index, look at it go, up 1.6%. the shanghai slumping, selling off a reflection -- the massive run since march justified today, that sentiment is in a positive. we have the chinext up 2.7%. it is expanding its gains now even though some government act funds were seen as selling off. it is in a positive to china but rising faster than ever before, rsi hitting a record. market turnover jumped to the highest level on tuesday. this one is up 1%. bernstein, buying china m